There’s been quite a bit of talk about Andrew Maguire these past 24 hours. I’ve received a handful of emails asking me for my opinion so I thought I would make a public response.
If you’re wondering what all the fuss is about, this all started Thursday when Jeffrey Christian of the CPM Group, who was speaking at the Silver Summit in Spokane, Washington, concluded his presentation with some “revelations” about Maguire’s personal life and background- claiming Maguire is “a fraud”. 
Jeffrey Christian has had a bug up his rear for quite some time now regarding GATA, Bill Murphy and Andrew Maguire. I wonder why?
Could it be related to his company’s “expertise in financial engineering that utilizes derivatives…“?
It certainly appears that Jeffrey and his company have a vested interest in maintaining the current, leveraged, fractional reserve derivative system. I mean, it says so right there on the CPM Group’s home page.


2oz Freedom Girl(2)

Submitted by Turd Ferguson, TFMetalsReport:

The story was then picked up by Kitco:

Rather amazingly, just a little over an hour later, the story was picked up and repeated verbatim by Forbes:

Hmmmm. What, if anything, do we make of this?

Beats me but I do think some context is required. Below is a link to Jeffrey’s company website:

There you’ll find all sorts of interesting tidbits such as Jeffrey’s scowling visage:

Also included is a bio that prominently mentions: “(Jeffrey) has advised many of the world’s largest corporations and institutional investors on managing their commodities price and market exposures, as well as providing advisory services to the World Bank, United Nations, International Monetary Fund, and numerous governments.”

Not sure that’s the type of endorsement most here would value but apparently Jeffrey thinks it’s important. Additionally, this is worth noting, right on the homepage:

“CPM Group is known for its research and analysis of the metals markets, its overall economic analysis of commodities markets, and its expertise in financial engineering, using derivatives to structure optimized positions for commercial hedgers, and for institutional and high net worth individual investors.”

So…in my humble interpretation…it certainly appears that Jeffrey and his company have a vested interest in maintaining the current, leveraged, fractional reserve derivative system. I mean, it says so right there on their home page, does it not?

Anyway, Jeffrey has had a bug up his rear for quite some time now regarding GATA, Bill Murphy and Andrew Maguire. Again, I wonder why? Just speculating here but could it be related to his company’s “expertise in financial engineering that utilizes derivatives…”? GATA has worked for years to end the blatant corruption of the manipulated paper (derivative) metals markets. If GATA was ultimately successful in ending paper metal derivative manipulation, would The CPM Group need to come up with a new business plan? Again, hmmmm.

Which brings us to my friend, Andrew. It’s been almost four years but do you recall just whom and which organization brought Andrew to the forefront at the CFTC “hearing”? Oh yah…it was GATA! How about that?

And now here is something to be seized upon. Early in the clip above, Bill Murphy states “Mr. Maguire, formerly of Goldman Sachs, is a metals trader in London…” It is this supposed Goldman Sachs lineage that Jeffrey is claiming to be false. Apparently, by extension, if Andrew didn’t actually work for Goldman Sachs, then everything else he has claimed or demonstrated must then be false, up to and including the JPM whistleblowers.

First of all, regarding Goldman Sachs, I challenge anyone reading this to scour the internet and find one, single incidence of Andrew Maguire stating that he worked for Goldman Sachs. This initial claim by Bill Murphy has been repeated and reported over and over but, as far as I know, never stated by Andrew. I suppose he could have refuted it somewhere along the way but, as I know from personal experience, once you start down the path of refuting everything that gets said about you on the internet, it leaves little time for anything else.

In the end, I guess I’m confused about what this has to do with anything, anyway. Is Jeffrey claiming that unless you’ve worked for Goldman Sachs like him, you are not qualified to offer an expert opinion on the metals? If that’s the case, how come this site is so successful? I’ve been a stockbroker, a mutual fund wholesaler and a failed internet entrepreneur. Does that make all of my CoT, BPR, Comex and chart analysis worthless? Apparently not. And what about Andy? All of his trades are documented on the Coghlan Capital site and the only complaint I ever heard from anyone in “Turd’s Army” was that the hours were too early for the average, U.S.-based trader. If the guy consistently makes money and, as you can see on the TFMR homepage, Andy is up considerably since April of 2012, why would a Goldman Sachs background matter?


Look….Andy’s been awful busy lately. We haven’t even spoken for over a month. By email exchange, though, I know he was very frustrated by the sudden ending of the 5-year CFTC silver investigation and he’s been working behind the scenes to get the two JPM whistleblowers a fair hearing. Knowing this, the timing and scurrilous nature of Kitco’s and Forbes’ reporting seems rather convenient.

I feel fortunate to consider Andrew Maguire my friend. He is a good and decent gentleman who, like me, has found himself thrust into the limelight, fighting against the central bankers, the bullion bankers and their abettor media. Though we’ve never met in person, I can assure you that he is an accomplished trader, wise to the ways of the international metals markets. He has a wealth of knowledge and experience, which he has unselfishly shared with me and all of us here at TFMR, in order to increase our understanding of the markets. At great personal expense, he continues to forge ahead in his quest to end the price suppression scheme that has bankrupted companies and brought great harm to their workers, particularly in underdeveloped nations. For his effort, he is subject to all sorts of personal attacks, yesterday being just the latest example.

He has my friendship and support. He should have yours, too.



By subscribing to Turd Ferguson’s premium service, “Turd’s Vault,” you’ll get extra, value-added content that you won’t find anywhere else on the Internet. Members receive Turd’s insightful chart analysis, frequent podcasts covering market news, weekly podcasts with special guests, plus other helpful information, all available on a dashboard only available to gold members.

  1. It’s common knowledge with a number of recent examples that with this Administration whistleblowers are unjustly vilified.
    Link is to one recent example as to what happened to the whistleblowers in the DOJ’s Fast and Furious gun running scandal when Obama’s Justice Dept was caught red-handed running weapons into Mexico in an effort to undermine the Second Amendment.

    • And look what happened to Valerie Plame when her husband, Joseph Wilson discovered that Iraq hadn’t purchased uranium and therefore did not have any weapons of mass destruction and destroyed any rationale for President Cheney to invade Iraq. 

  2. Now that the cat is out of the bag regarding just who Christian represents (not that it was ever really a secret), maybe Kerry Lutz will think twice before inviting this nauseating shill back on his program.
    When the cartel resort to such obvious and limp-wristed smear campaigns, it reeks of pathetic desperation and predictability. I’m afraid this one has already backfired.

  3. Turd is just as awful as Christian. Why the hell would I pay for a premium service of a Johnny-come-lately and his band of wagon chasers that have nothing better to say than ‘first’.
    Maguire on the other hand is articulate and insightful and does not hide behind a hat and sunglasses.

  4. I listen to Andrew Maguire; and who is this Jeffrey guy?  A hack or a shill for the establishment NWO elite?  Should we expect him to say anything less about the watchmen exposing the corruption of those whose asses he kisses?

  5. It’s a shame dueling was outlawed quite some time ago for I can definitely see it making a comeback with the likes of slanderous, hide behind the law, slack jawed, no account, braggarts. Oh yea,that’s right…the laws to criminalize dueling were established by those very same slack jaws so they wouldn’t get their ass handed to them on a platter. Shame really that there are so few people left who would be able to defend their own honor and who have abrogated even that to the “law” . It’s nice to still be able to dream…at least for now.

    • “Shame really that there are so few people left who would be able to defend their own honor and who have abrogated even that to the “law” .”
      We can all be sure that the elites have purchased all the law they need.
      Agree on the dueling part.  Society was FAR more polite, well mannered, and reserved during the days when dueling was not only legal but encouraged.  People with run-away mouths got what they deserved, those whose honor was impugned got relief, and those who deserved to live happily ever after, did so.

  6. Who is the real fraud?  What, is this a trick question?  lol
    Every time I see a pic of Jeff Christian, I marvel at the inconsistency between his last name and his apparent activities.  The first description of him that comes to mind is… weasel.

    • “anyone with all their faculties and an iq over room temperature can see jeffy boy is someone you wouldn’t leave your kids with. my bet is he is a compromised sexual predator who is doing this in lieu of jail.”
      I don’t think you’d even leave your pets with this guy. He really gives you the creeps.

  7. What do we know of either of these guys, apart from what is put out in the media?  I mean, does anyone here know either of them, or know anyone that knows either of them? No, because they are both part of an inner circle, that we are not part of. Christian is painted as the evil guy who is covering up for the status quo, and ‘letting slip’ the nugget that paper gold is leveraged 100 to 1 or whatever of the underlying physical. And, Maguire, is painted as a good whistleblower who is revealing truth for the good of humanity; he is famous for saying ‘we are totally out of physical’ and all the gold is going ‘west to east, west to east’ and China is buying humongous amounts of gold so that there is none left in the USA, plus he is now high profile, appearing on ‘Max Keiser’ and other places, saying the same things all the time. He is typical of ALL those on KWN, who say we are about to take off, but we never actually do, to date. So, what is so great about Andrew Maguire? He implies that we have a free market and are getting near to the tipping point, but he sure doesn’t say what we all know by now .. that is that the plug will be pulled when TPTB have decided to pull it.
    Sounds very much to me that they are BOTH preparing us for collapse of paper gold and for the rise of China as the new shining star, without admitting to the realities of the situation.

  8. I sure hope MacGuire is on OUR side! I just heard another disturbing interview given by Max Keiser. His latest interview of a guy from Norway left me sick to say the least. All this bit-coin nonsense is actually just encouraging a CASHLESS ELECTRONIC CURRENCY, which is becoming OBVIOUS that this is the solution the PTB are going to hand us in the very near future. I like my debit card, but Never want to see a system with only electronic currency….And why do they think this is any different from a fiat system?
    Think about these Key elements:

    -They have the NSA and other surveillance agencies to watch dog over everyone’s accounts and online dealings and maybe their were even more nefarious agendas regarding the inception of such a surveillance system…

    -They obviously have been using these last several years to set the banking system up for the coming electronic system (Catherine Austin Fitts said 2008 was a coup de tat)….

    -They will be able to tax you any amount they want because they won’t have to fight to get the money from you but simply click a button and take it from your account….

    -The NSA will decide is anti-American and close all of their bank accounts and confiscate the money (example of what will happen to dissidents)..

    -Combined with Obamacare and Monsanto GMOs and we are looking at the biggest Authoritarian system the world has ever known…

    -Electronic Currency is just another FIAT system, but even worse with its ability to simply TAKE your entire contents of your account..

    -Is Max Keiser on the Banking Cartel’s side afterall? Why is he supporting Electronic currency?


    • A lesson from Mary is important, get yourself self reliant.  Getting further out of dodge before all hell breaks loose is nice too.  I have just moved and am happy to be on 2 acres in a more rural location (closest big city 2.5 hours away), however i was miles from lake erie before… not bad to be near a lot of fresh water. I still am holding out for a nice retreat on lake huron in the thumb of Michigan. Rural and all kinds of fresh water.

    • “And why do they think this is any different from a fiat system?”
      I don’t think that they think it is any different from a fiat system except that it is MUCH easier to manipulate and therefore to rob.  They can do it in the dead of night, by computer, from any location, and without them leaving any paper trail whatsoever.  It is all about control and tightening their noose around our necks.  THAT is why they want an electronic-only money system.  Being better for us citizens isn’t even on their radar.  Of course, they will try to sell the idea that this is more efficient, fights crime, etc, blah blah blah.  Don’t believe a word of that nonsense.  This is ALL about control and we are the ones they want to control, not criminals.
      My question is, what happens if there is a solar EMP that knocks out all the computers that store all this electronic money information?  Are we all instantly broke, or what?  Surely, they would not do anything so intelligent as having any paper records as backups?  Those of us who are experienced computer users know that electronic data is fragile and not difficult to lose or corrupt. Imagine losing your life savings because some computer somewhere barfed.  Not my idea of a good time.
      Finally, it is the inherent value of gold and silver that makes them recognized as things of value by every human culture that has discovered these metals.  Gold and silver have been the underpinnings of personal liberty and freedom for millennia.   They are REAL wealth.  The further from reality that wealth becomes, the less inherent value it has and the more easily it is stolen or destroyed.

    • Cindy, all you say is true. I listen to Max every now and then. Max is not a fool but standing in a long line of other financial journalists that mostly talk to hear their heads rattle. No doubt that he and Stacey jump on anything they can find to make the show now going into 500 episodes, but all in all he means well. Bit Coin is certainly no threat and it takes Fiat Money to buy it. Close down the internet and Bit coin goes nowhere As for Bit Coin Cindy, I would not own anything regarding money that I could not hold in my hand!

  9. I’ve had a subscription to Andrew’s service for over a year. I just emailed their customer service and got a reply within a few hours..  Not sure why more don’t just do the same and have their answer instead of all this back and forth. Solid guy in my opinion.
    Pasted below:
    I appreciate your concern in relation to the recent Kitco interview and the aspersions cast over Andrew and his background but can assure you that in talking with Andrew he has confirmed to me that the interview represents a horribly negative spin on reality. It is no secret that Jeffry Christian and Andrew have been adversaries for some time and so one does have to take that into account when looking at the motivation behind it.
    Andrew’s institutional background emanates from time he spent working at both J Aron & Company and subsequently with Gulf & Western’s Associates Capital division prior to its acquisition by Citigroup. Since then he has been an independent trader, specializing in Gold and Silver. I have known Andrew for several years and can say without hesitation that he is a straight arrow, honest and loyal. Based upon both what Andrew himself has supplied and due diligence performed upon his background I am comfortable that Andrew is precisely as he presents himself, a long time veteran of the markets with both institutional and independent experience.
    His skills and knowledge have never comes into question and despite the fact he worked at these companies 30-40 years ago what is far more relevant is his more recent experience. Of this I don’t see any doubt or question.
    A final thought. It strikes me that the inability to shoot down the message has morphed into an attempt instead to shoot down the messenger…
    Best Regards,

  10. Does anyone else remember Christian’s damage control interview after his inadvertent admission the paper gold market was leveraged 100:1?
    He was seated at his desk in his cubicle and shortly after the tape rolls his cube lights go out and Jeff flails his arms in frustration; saying ; “the sensor doesn’t detect a human present in the room”.
    What more do we need to know?

Leave a Reply