With massive selling once again in the gold and silver markets, Andrew Maguire told Kingworldnews.com the reason for the recent takedown in gold and silver was because of an imminent LBMA default :
“Gold and silver only have this type of selling when there are extreme shortages of the physical metal. I am totally aware that before this takedown occurred there was an imminent LBMA default.
We had already seen COMEX inventories plunging. In 90 days COMEX inventories saw an incredible decline. So immediately available physical gold was disappearing.
Entities went to the LBMA and said, ‘We don’t trust anybody anymore. We want our physical metal.’ They were told they would be cash settled instead by a bullion bank.
This is why this smash has been orchestrated because of the run that has been taking place on physical metal. So Western governments had to do this because of an imminent run on the unallocated LBMA system. The LBMA bullion banks had become so mismatched at one point on their trading positions vs real world demand that they had to orchestrate this smash.
So there is a run on physical gold that is taking place and the Ponzi scheme the West is running is being threatened because of it.”
This global migration toward physical gold and silver is threatening a little more each day to trigger the explosion of the COMEX and LBMA markets. A single delivery default on these markets would make the price of gold rocket. The situation for the long term is untenable on these markets. The physical gold to cover delivery requests from contract holders is simply not there, it does not exist.
This whole fiasco in gold and silver is predicated on two factors: We have a financial and economic situation in the Western world to which there is absolutely no palatable solution, despite all of the garbage you are reading in the mainstream media.
Thus our so-called leaders who are faced with this conundrum are reduced to market manipulation, falsifying economic statistics, and printing whatever money is required to keep the system afloat…
This unfortunate reality must be kept from the public, and gold and silver as the canaries in the coal mine must be viciously suppressed.