World renowned precious metals expert Andrew Maguire says pay attention to the new rule that goes into effect at the end of March that will allow gold to become fully valued and monetized as a tier 1 asset for banks around the world. Maguire explains, “Basel III is coming into effect in less than two weeks from now, and it will effectively remonetize physical gold. Of course, that is a big deal. While the synthetic players shuffle chips in this siloed CME casino, the insider bullion banks are positioning for higher gold prices. That is it right there. Bottom line is what are the big boys doing?”
So, is it safe to say central banks and big banks are going long gold? Maguire says, “They’re all going long gold. Why is that? It is because they are already allocating gold for their own house accounts. . . . The minute the global physical markets see unallocated positions are being mark to market at a certain price, the physical market will explode. There will be a gap higher, and the offer to sell physical will rise to a point where someone is actually willing to sell it. . . . I think you are going to see in a few days that it will suit the bullion banks to have a higher price than a lower price. . . . At some point, they are going to want a higher price, and we all know why. There are trillions of dollars of derivatives and unbacked zero value intrinsic assets out there in the market place, and someone has to settle this stuff. It is not going to be settled without a much higher gold price.”
Maguire goes on to say, “Look at platinum, it’s a vertical rise. What is that? That is a physically driven short squeeze. People look at it and say it must be speculation. It’s not speculation. It was a massive short position just like in silver and just like in gold, but more so in silver. What we are seeing is a relentless drive to cover. We are going to see a similar situation (in gold and silver). What is that price? You are already seeing that with the LBMA projecting $1,530 per ounce in gold for this year. . . . It amazes me that people are not seeing this massive tectonic event. It’s going to be a shock, but I think it is part of a central plan move to revalue gold. It has to.”
Maguire says watch silver for an extreme spike to the upside. Maguire says, “Silver is going to break out. I think $50 per ounce is a joke. I think it’s going to be substantially higher than that. It’s not going to be a question of how you can run into resistance with silver. It’s going to be how much physical is available. It’s going to be a heck of a lot higher when you start to have a run on the price.”
Join Greg Hunter as he goes One-on-One with precious metals expert Andrew Maguire.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.