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Maguire and Hemke discuss why price suppression via derivatives may end this year
9p ET Friday, February 4, 2022
Dear Friend of GATA and Gold:
Kinesis Money's "Live from the Vault" report this week consists of a discussion between London metals trader Andrew Maguire and the TF Metals Report's Craig Hemke in which they review the evidence that this might be the year when the derivatives-based system of suppressing gold and silver prices blows up.
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Hemke is sure that the Federal Reserve will chicken out of raising interest rates, as it has chickened out before.
Hemke also asserts that bitcoin has fallen in price because the cryptocurrency has been financialized as gold has been.
Maguire says the "Basel 3" regulations emanating from the Bank for International Settlements have pushed bullion banks into a slow but steady retreat from paper-trading gold and other commodities.
Maguire adds that bullion banks are buying physical gold along with central banks, and he envisions the BIS and the Federal Reserve taking contrary positions on gold, the BIS in favor, the Fed against.
Hemke and Maguire agree that only physical demand for gold can break the derivatives-based price-suppression system and that real metal should be the core of an investor's portfolio.
The discussion is 54 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=fQlRpd2GSfQ
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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