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BIS gold swaps reflect U.S. move to knock the price and protect dollar, Maguire says
9:24p ET Friday, March 10, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells this week's "Live from the Vault" program from Kinesis Money that the recent 100-tonne increase in gold swaps undertaken by the Bank for International Settlements was a dumping of gold by the United States to protect the dollar.
But Maguire adds that such dumps are being aggressively used by central banks to add to their gold reserves. Metal is leaving the preserve of the London Bullion Market Association for safekeeping away from the clutches of the price suppressors, Maguire says.
He expects a big change in the gold and currency markets in April.
The program is 42 minutes long and can be seen at YouTube here:
https://www.youtube.com/watch?v=2inKxSXz0Z4
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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