Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

 Source: Zero Hedge

Recently, whistleblower Andrew Maguire gained substantial notoriety among LBMA circles after disclosing what could be an epic cabal of commodity price manipulation, and was subsequently involved in what could be classified as an attempted hit-and-run. In a first media appearance, Andrew is interviewed in this exclusive with Eric King of King World News, where he is joined by GATA director Adrian Douglas, who also made ripples at the recent CFTC hearing in which he used the words of former Goldman analyst Jeffrey Christian against him in proving that the gold market is nothing but one big Ponzi, in which a run to deliverables would result in 99% unsecured claims (a 1 in 100 dilution).

As Eric King summarizes:

Andrew Maguire, independent metals trader turned whistleblower is in the center of a storm for exposing what could be the largest fraud in history involving countries, banks and government leaders. Adrian Douglas Board of Director from GATA, the man who Andrew reached out to also joins in this interview where they discuss a fraud so extraordinary and so unimaginable that it is the kind of thing that hollywood thrillers are made of. In this interview they also discuss the CFTC sponsored meeting on metals which was an unmitigated disaster because it additionally exposed the fraud on a grander scale. Thanks to GATA, Adrian and everyone else involved in helping to make this exclusive King World News interview possible.

Click here for full interview

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty

 

Source: Zero Hedge

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says "What shocked me was how little gold and silver they actually had." Lenny describes exactly how much (or little as the case may be) silver was available - roughly 60,000 ounces. As for gold - 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: "The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."

Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.

It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.