Gold selling likely comes from BIS at behest of U.S., Maguire tells King World News
4:28p ET Thursday, December 20, 2012
Dear Friend of GATA and Gold:
In the second installment of his interview with King World News today, London metals trader and silver market whistleblower Andrew Maguire says the recent overwhelming selling in gold is likely coming out of the Bank for International Settlements at the behest of the U.S. government, not, as some rumors would have it, out of hedge fund managers like John Paulson. The seller, Maguire says, is "not somebody seeking the best price."
That the BIS trades in gold and gold derivatives on behalf of its member central banks is a matter of public record, verifiable in the BIS' annual reports, other BIS documents, and press profiles over the years, such as are cited here:
But GATA will pay a thousand ever-depreciating dollars to anyone who can find a mainstream financial journalist who will bother to telephone the BIS, ask for an account of what it has been doing in the gold market this month, and report the bank's answer -- or, rather, its snickering refusal to answer.
An excerpt from the new installment of Maguire's interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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