New Chinese exchange will destroy gold and silver shorts, whistleblower Maguire predicts

Silver market manipulation whistleblower Andrew Maguire, whose complaint was brought to the U.S. Commodity Futures Trading Commission’s hearing on the gold and silver markets a year ago March, tells King World News that the new Pan Asia Gold Exchange will create demand that will destroy the gold and silver shorts.

Maguire says: “By creating the first rolling spot contract, Chinese bank customers will for the first time have ease of access to 10-ounce gold contracts in renminbi directly from their bank accounts and with the click of a mouse. … If just 1 percent of their customers bought a single 10-ounce contract, that would equate to 1,000 tons of physical gold being drawn down.”