You are here
China still buying gold, Maguire says, and silver short squeeze is near
6:32p ET Saturday, August 10, 2024
Dear Friend of GATA and Gold:
In this week's episode of Kinesis Money's "Live from the Vault" program with Shane Morand, London metals trader Andrew Maguire says the People's Bank of China is continuing to purchase gold, contrary to media reports that construe the bank's failure to report gold purchases as meaning that no gold has been purchased. Maguire credits gold researcher Jan Nieuwenhuis, who writes at the Gainesville Coins internet site, for exposing the duplicity of the Chinese central bank.
Because silver is not covered by Basel III regulations, Maguire says, it is easier to short in the near term, but silver futures are about to experience a short squeeze because of purchases from India and China.
The U.S. Federal Reserve, Maguire says, is the only central bank that has not yet covered its short position in gold.
This week's "Live from the Vault" program can be viewed at YouTube here:
https://www.youtube.com/watch?v=yCAIU4qwpe0
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
... ADVERTISEMENT ...
The Gold Tree of Life in the popular 1-ounce format, along with the Gold Tree of Life 0.1-ounce and the Silver Tree of Life 1-ounce,
are now available from Tara Coins directly and from authorized distributors in the U.S. and worldwide
The Gold Tree of Life in the popular 1-ounce format, along with the Gold Tree of Life 0.1-ounce and the Silver Tree of Life 1-ounce, are now available from Tara Coins directly or from authorized distributors in the United States and worldwide.
The Gold and Silver Trees of Life are the first 99.99% Irish bullion rounds and are truly sovereign (non-legal tender) coins. They are beautiful and limited in mintage and supply, making them highly desirable as gifts, collectible coins, and -- most importantly -- as stores of value.
Tara Coins is a designer, wholesaler, and retailer of Irish bullion products, selling beautiful, collectible, store-of-value, 99.99% pure Irish silver and gold bullion.
GATA supporter Money Metals Exchange is now one of Tara Coins' leading distributors in the U.S. and is selling all the Gold and Silver Trees of Life coins for delivery or storage at its vault in Idaho.
For more information about Tara Coins' Gold and Silver Trees of Life, including minimum order sizes and premiums to purchase them, please contact us at info@taracoins.com or visit us at https://www.taracoins.com/.
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.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:
