Goldman breaks with anti-gold cabal as physical vanquishes derivatives, Maguire tells Arcadia Economics


7:32p ET Wednesday, August 5, 2020

Dear Friend of GATA and Gold:

Investment bank and "vampire squid" Goldman Sachs has broken with the cabal of gold price-suppressing investment banks and central banks and is maneuvering with other central banks so that physical demand for the monetary metals overwhelms the derivatives that have been holding them down.

That's what London metals trader and Kinesis Money founder Andrew Maguire tells Chris Marcus of Arcadia Economics in the first of a two-part interview this week.

... Dispatch continues below ...


Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

Maguire says his firm cannot obtain prompt delivery for thousand-ounce silver bars "in size" in Europe and instead must pay cash in advance for deliveries not scheduled until January or later next year.

As the physical market overruns the paper market, Maguire says, governments will be forced to revalue the monetary metals, and the Bank of England and UK Treasury are preparing for such a revaluation.

Maguire says his firm's recent purchase of silver bars through JPMorganChase was accompanied by a bar list in which no serial numbers matched those of the bars delivered.

Whereupon interviewer Marcus pointedly exclaims: "These guys are custodians of SLV" -- the big silver exchange-traded fund.

Given JPMorganChase's long record of financial misconduct, it's not hard to imagine SLV's purported silver inventory being used for purposes contrary to the interests of the fund's investors.

Part 1 of the Arcadia Economics interview with Maguire is a half-hour long and can be viewed at YouTube here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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