Cyprus gold defaultWhistle-blower and gold trader Andrew Maguire was on the latest Keiser Report, discussing last week’s gold and silver cartel take-down with Max Keiser.  Maguire, who CPM Group’s Jeffrey Christian once claimed was a figment of Bill Murphy’s imagination, states that a gold default is underway & states that The straw that broke the camel’s back was the Cyprus issue.

On physical gold vs. paper promised Maguire stated:
If you think you are a holder of bullion, and you happen to turn up and ask for that bullion and you’re told, I’m sorry, we don’t have that bullion, you will have to take cash instead.   Technically, that’s a default.  If you read through the LBMA’s fine print, technically you can be settled for cash, however, that’s not what most people think. 
You’ve either got something in your hand that you can klunk, or it’s paper.  I don’t trust the latter. 

Maguire’s full interview on the gold default underway is below:

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  1. Great interview. With respect to silver price, I dearly hope we have a strong morning, and in the afternoon we have a few shorts shit their pants at the prospect of going into the weekend on an up turn, causing a face melting short squeeze to end the week.
    They tried to give silver a good ass whooping through the night.

    • Dirt… I was browsing the web this morning and dropped by the Texas Precious Metals web site.  I don’t know how these folks rate as far as sales volumes go but I was struck by the following comment on their site:

      “2013 American Silver Eagle Monster Box (SEALED)

      Texas Precious Metals is rated, 145 Reviews, link

      4/26/2013 | by Answers

      NOTICE: For an update on inventory levels, please read here.



      That’s pretty impressive!  4 minutes?  Yikes!!


  2. 85 Billion a month will buy you a lot of friends. JPM is connected to an endless funnel of FED cash…by the front by the back and by the side door. Market Makers…make the rules to suit themselves. Look for a raft of changes that will squeeze the little guy and benefit the ” morgue”

    • Let history be our guide on this.  I recall a fellow named “Vlad the Impaler”, who could certainly come up with something suitable for this scum.

      Note: Never ever mess with a guy whose middle name is “the”. lol

  3. “If you think you are a holder of bullion, and you happen to turn up and ask for that bullion and you’re told, I’m sorry, we don’t have that bullion, you will have to take cash instead.   Technically, that’s a default.  If you read through the LBMA’s fine print, technically you can be settled for cash, however, that’s not what most people think.”
    This seems a confusing and irrational statement.  The LBMA “fine print” IS part of the contract that should be read BEFORE signing or otherwise initiating the contract.  If the terms aren’t good or can’t be understood DO NOT SIGN IT!  If it says that they have the option to settle in either precious metal OR cash and they choose cash, it is perfectly legitimate and not a bit “technical”.
    As to “what most people think”, well, at one time most people thought that the Earth was flat.  Them thinking that did not make it so.

    • @Ed
      “If you read through the LBMA’s fine print, technically you can be settled for cash…”

      Hmm, well that’s fair! Ashes to ashes, dust to dust. And… paper to paper! Since LBMA had paper at 100 to 1, you should get paper in return at 100/1…

      Well, as Maguire said to Max, “…if you can’t hold it in your hand and ‘clunk’ it, then it’s just paper!” So…

      If a COMEX or an LBMA falls in the Forest and No One hears a ‘clunk’…
      …Does that make a Default?
      … or just a paper settlement?

      Yeah, tongue-in-cheek. The reality is that, as people wake up, paper is fast becoming less and less acceptable as a substitute for the stuff that goes ‘clunk’ in your hand… “Default” or “Cash settlement” it’s all semantics… doesn’t matter what you want to call it, the result is “GAME OVER!!!”

  4. Mammoth
    I don’t know what Muslims have ever done to you, but I’ve known quite a few, and they have always been respectful to me. I’m a believer in the God of the Bible, and you sure won’t win many over by personally insulting them. I’ve found most of them to understand the Laws upon which most of the world runs which is the Uniform Commercial Code. And they object to that, as well as do I. These people are big believers in Real Money, and don’t want their countries to be forced into the foolish paper system that runs the world. They are not Chem Trailing there own people, or poisoning there food and water supplies.
    After Nixon took us off the Gold standard, they had to find something to back the Dollar, so they brain stormed and came up with OPEC, that was actually the Bankers Idea! So now the Dollar became the Petro Dollar! Saudi Arabia and others in return for the deal, bought a lot of US Bonds that backed our Dollar with the Profits thus making a Strong Dollar and forced all countries to purchase Oil threw the Dollar.  When this fraud blows up, and there countries are stripped of all their natural resources, they will have nothing of value to show for it, and these people understand this while a Corporation known as AKA the United States Spread Corporate Democracy around the world, setting up Central Banks and the Uniform Commercial Code in the wake of everywhere they go. Plus Stealing the Precious metals and making them Slaves of the World Bankers.

    • Sorry to burst your bubble, but Islam is a Satanic death cult that requires all infidels to either convert, die or become slaves.  You do know that Muslims are allowed to lie to infidels, do you not?

    • @Realrepublic
      I’m sorry but I think you misread Mammoth’s Quote: those filthy muslim terrorists I know Mammoth and I don’t believe he’s talking about all Muslims in general but the terrorists. I also agree there are many, many good Muslims.

  5. Islam means Submission. Submission to who or whom? To Allah. HaAllah in Aramaic means The personification of evil and cursing. The choice is yours Ha Allah or Yahushua HaMoshiach. War or Peace, Death or Life, Hate or Love, Shariah Law or the Judeo/Christian model of civil law. You are in a epic struggle and even if you are neutral, you are in between these two forces. Ever heard of Collateral damage?
    The precious metals are also in a war with the crooks of this world. Those without any protection (metals, food, shelter) are also collateral damage in this war.

  6. The Cypriot confiscation is very complicated and judging from Jim Willie’s most recent hat trick letter there are so many different aspects of this that gold and silver price suppressions are a small factor, maybe not even on the radar of that event. 
     Cyprus is significant in itself since it is, was and will be an attempt to injury Russians, take funds from Russia and make it clear that Russian must keep hands off Cyprus and its trillions of CU ft of natural gas. Russia did not help save Cypris as the price was $50 billion and they don’t have that much sitting around
     By hitting Cyprus the Nazi troika missed the mark, did not hit Russia with  much force but angered Putin who will be back with some very serious consequences—Like shutting off the gas to Europe in the middle of the winter.  Russia wants Greece in its orbit for its gas as is working hard to obtain rights to the Cyprus deep water naval ports as well as a greater conduit from turkey, thought turkish Cyprus, to Greece, the portal for oil and gas shipments to Europe.  This heavy handed actions of the Troika reprise the Russian and European conflicts that go back 90 years.  Israel nat gas is being developed by Russian firms and the eastern Med is something that Russian wants, as do they want the Iranian and SYrian conduits for more trillions in nat gas.  Cyprus was a nice way to smack Russia, hit the Russian Orthodox Church for 100 million Euros, offend the KGB.  That blast will not go unpunished.
    But gold was not really a siginificant objective to Cyprus.  It was collateral damage to China’s shot at B of J and the need to sht down the COMEX default and gold runs in the western banks

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