Andrew Maguire: Gold and Silver to Skyrocket
Trader Scott’s Market Blog
February 26, 2017
Andrew Maguire is out once again with his claims about the gold manipulation. “The whistleblowerwho blew the gold and silver markets wide open in 2010 now says gold and silver will skyrocket in 2017….The Death Knell Of Central Bank Gold Manipulation ….Andrew Maguire: “Here we are again at 100/1 (leverage in the paper gold market with commercials) short, as we were when we first spoke back in 2010. But this time there is no Eddie George to come up with a Bank of England sale of 400 tonnes of physical gold. There is no (substantial amount of) physical gold available at this price to swamp the (physical) market. So now we have a physical market that is in control, and this time there is no physical to back it (the short positions) up.”
The interview, of course, was mainly about manipulation. And Mr. Maguire seems like a nice gentleman, but once again Andrew, with all of the manipulation, how in the world did gold rally almost 8x in 12 years. These manipulators areobviously the most incompetent ones ever. If the so-called manipulation is true, then the old master manipulators like the great Jesse Livermore, would be totally mocking these modern day bumbling losers. They are apparently a bunch of Inspector Clouseaus. Why won’t one of the gold permabulls (sanely) explain to me how gold had that massive rally even with all of the manipulation.
So then Andrew started talking about the commercial signal failure(CSF) and reset happening within the next 90 days. Oh boy. If it’s true that’s fine, with my gold position. But it’s not going to happen, and we have been down the CSF road before. These CSF pronouncements crop up after a rally, “because” the “bullion banks, etc.” are supposedly about to have their short positions blown out. The last time Mr. Maguire was pontificating about a CSF was in July, pretty much right into the highs. Not a great time to be getting people bullish about gold, for any reason, stupid or not. Last July the weak hands had gotten themselves into a big pickleand were way out of whack, with their bullishness and gold to the moon fantasies. That isn’t the same situation today. But these stupid pronouncements are not at all helpful, whether it be CSF, Comex default, yuan SDR, US elections – these things are never a reason to buy. In fact, it doesn’t even matter what the “news” is, true or fantasy. When a market has had a big run, the weak hands are all dreaming of the wild “price targets”, the permabulls are super confident, and any “news” is supposedly bullish, then it’s never a good time to buy. But it’scertainly a great time for the market gurus to sell their subscriptions.
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.