You are here
London-New York axis losing control of pricing for real metal, Maguire and Kientz say
5:45p ET Saturday, July 9, 2022
Dear Friend of GATA and Gold:
This week's Kinesis Money "Live from the Vault" program is a discussion with London Metals trader Andrew Maguire and Robert Kientz of GoldSilverPros about the control of gold and silver prices by four major U.S. banks using an ever-growing volume of derivatives. Maguire and Kientz agree that the banks are at existential risk if the market ever moves against them but, disappointingly, don't acknowledge the possibility that the banks are not trading for their own accounts but for governments and particularly the U.S. government and thus not really at existential risk at all..
... Dispatch continues below ...
... ADVERTISEMENT ...
USA Gold: Coins and Bullion Since 1973
USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
Maguire and Kientz say that the price-setting mechanisms of the London Bullion Market Association and the New York Commodities Exchange are increasingly avoided by traders seeking to acquire real metal rather than paper claims on gold and a new, physical gold market is taking shape in other locations.
Kientz warns against holding gold at the Perth Mint, which, he reiterates, does not have possession of all the metal it owes customers.
The interview is an hour long and can be seen at YouTube here:
https://www.youtube.com/watch?v=Y32_E5Uk9qQ&t=1706s
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
https://neworleansconference.com/
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
