Andrew Maguire expose not what you think

Part of Andrew's statment was: I have never said I worked for Goldman Sachs. The commodity trading firm J. Aron, for which I briefly worked, was taken over by Goldman Sachs and I suspect that this is how people have wrongly concluded that I worked at Goldman Sachs. With regard to my tenure at J. Aron, this was a very short-term junior position 41 years ago, coinciding with my first emigration to Canada, and I do not attribute any of my trading experience or skill set to the firm.

My full-time institutional banking career started in Canada in 1972 at Associates Capital International, a division of Gulf and Western, prior to its acquisition by Citigroup, where I fulfilled numerous senior management roles in both Canada and later in the UK, specializing in derivatives trading. I left ACI in 1982 to become an independent trader specializing in the precious metals markets while pursuing several other business opportunities.::

This imo could read as J. Aron was in Canada as Jeff states.

However then Andrew goes on to say that 41 years ago in 1972 his banking career started in Canada.

So only one question really, Where did Andrew work with J. Aron?

Its possible Andrew did not word it perfectly and should be given an opportunity to clear up that one question before being labeled a liar.

Welcome to the forum Jeff we look forward to your insight to the paper gold dumping.

 

Perhaps Mr. Christian could give us an in depth analysis of the (9?) CME silver margin increases (ending in 2 increases in a single announcement as the price was tanking in May 2011 to "finish the job") in the several months before (and after) the May 1, 2011 attack on the price (based on nothing but the distraction of the bin Laden raid).

I've got the popcorn warmed and ready Jeff... nothing like popcorn and a good fairy tail on a cold evening!

 

http://www.financialsensearchive.com/editorials/townsend/2010/0419.html

 

Bron,

You might find the article interesting that I linked in my post just above this one. For me, it is just another nail in the coffin for AM.

I never understood why they kept pointing to the 100-1 as proof of anything. Most people are aware that the almost all commodity contracts are closed by cash settlement. But then, why interfere with a good conspiracy theory?

 

I suppose Andie's accurate predictions of price takedowns is somehow explained away by all this?

:lol:

bunch of chumps ...

 

I find it really funny that we are supposed to take Jeff seriously. After all he is a really busy guy who has real things to do, like log onto a website that he has never contributed to before, to make derogatory statements about a fellow in the bullion trade. Then he rushes back to the real world of real work. Who is this guy kidding. If Andrew has lied and been dishonest its for the likes of honest knight Jeff our bullion dealer to save the world from shonky other bullion dealers like Andrew. The source is the ex-wife !! Sound like a cast iron case. All those who have been swindled out of their hard earned cash by Andrew step up to the plate - we are all waiting ? (Looks pretty quiet)

"In life, it is usually those who have least to offer who make their name by targeting others rather than making any original contribution of their own". (my personal quote).

 

First, a definitional issue: Andrew Maguire is not a bullion trader, and never has been one. That is clear. Stop referring to him as one.

Second, an explanation: Yes, I am a busy person. I tend to work about 18 hours a day seven days a week. So, I don't sit around scratching myself and spending time on chat rooms. However, given the circumstances I decided one evening this week, I think it was Tuesday, to not do my homework and instead scan the good and the bad internets, as George II said, to see what traffic was out there. I responded on a few sites, including this one. So, the mysterious appearance of me on this site reflects the fact that I do not spend my time on such sites and the current circumstances. Bron Sucheski can attest to this: The only other time I have 'wasted' or spent time in such a forum was when Chris Martinson bent over backwards to show his ignorance about my '100:1' comment, which led to an actually very fruitful set of discussions over a weekend with Victor the Cleaner and Bron Sucheski joining me to provide a wonderful overview of fractional banking, the origins of currency (and precious metals) real price depreciation through interest, and other issues.

Third, a bit of background. I was sitting at my computer at 5:15 p.m. one Sunday a couple of weeks ago, kicking myself for having squandered another weekend working instead of gardening, playing. guitars, exercising, or hanging out with my wife, when I received an email from Maguire's first wife. She had heard him malign me on King World News recently, and heard me challenge him, GATA, and the financing source behind them to credentialize Maguire. She was fed up because he had treated her and their children dreadfully since he left them in 2005, and before that, and now was moving to cut his children out of his life completely. She asked if I was still interested in knowing his background, assuring me that he never worked as a bullion trader. I said I was. She provided background information. We checked it out and everything she said was true, and nothing he said was true.

I mentioned my plans to bring this up at the Silver Summit to someone else, who pointed me to the 2002 Mineweb article about Murphy's permanent ban from trading futures and options due to apparently trading against his clients. In that article Murphy blamed an unnamed bank for following the law and reporting suspicious trades to the CFTC, saying if he ever could he would seek revenge against that bank. So I added that to my speech.

Why does Maguire's background matter? For two reasons. First, his integrity. Let's be honest, he lied about his background, and still is. He never worked for Aron, and he does not have decades of experience as a bullion trader. Second, GATA, King World News, Max Keiser, and the financing source behind them have made a big deal, hung everything, on the idea that Maguire was a seasoned bank bullion trader, an insider, who knew what he was talking about. Now that it is clear that he never was, and one must assume they knew he was a fraud from early on in 2010 (they are not that stupid), they and he now are saying that it does not matter that he was never a bullion trader, that one does not need to be a seasoned bullion trader or banker to know what he says. But yet the very value of him to his handlers was that he presumably was a seasoned bullion trader, and he is not!

In my speech, which Mineweb covered excellently and got right, I started by saying, "How many times does someone have to lie to you before you stop believing him?" Butler, GATA, Maguire, have been assuring us since the late 1980s, the early 2000s and 2010 respectively that the 'naked short position' is about to blow up in JP Morgan's face, yet it has not. Actually, when Butler started his lies he blamed Drexel. (You can see his letter to then attorney general Dick Thornburgh on CPM's website from the late 1980s.) When Drexel went under he changed and said it was Merrill. When Merrill got out of the bullion business he said it was Morgan. Murphy assured us on Kitco in August 2012 that impeccable sources assured him that JP Morgan's short position would blow up on it in September 2012. Some fools are still waiting. Others remember something their mothers told them about 'Fool me once, shame on you. Fool me dozens of times and shame on me."

Someone in the blogosphere is a video I did in 2008, posted on Kitco the day that Lehman died, about how these conspiracy theories are a distraction that costs investors a lot of money. Those investors who took CPM Group's advice, based on real fundamental research and real experience in the markets, sold their silver on the first trading day of May 2011, or bought puts against their silver holdings. Those investors who took our advice on gold sold in late 2011 or early 2013. Those investors who believe the lies are down sharply. That's a painful, costly distraction.

In terms of the reasons behind the increases in margins, look for a video of me on CNBC or the one on Bloomberg TV from May 2011, when I explained this in a way that led directors at CME to ask why it cannot defend itself so eloquently and succinctly.

For those wondering about the large volumes of sales in short periods of time this month, we did a study on that. There have been six 10-minute intervals with above normal volumes in October. Three were an amalgam of algorithmic selling from hundreds if not thousands of individual trading entities. And three were amalgams of algorithmic buying by hundreds if not thousands of individual trading entities. These entities are trading both sides of the market, and always have. That's how they make money. You should learn about them from legitimate sources that know what is going on in all financial markets. The volume aberrations in precious metals are matched by similar trading patterns across other commodities and financial markets. The fact that the heaving trading goes both ways immediately proves that anyone thinking this is an effort to suppress gold prices is clearly misspoken. The fact that the same trading patterns occur across markets immediately proves it is not even limited to gold. Goldbugs are aurocentric in their thinking. They should spend less time with their theories and more time studying.

Sorry if I don't spend my time in your neighborhood, but I just don't.

Hope this helps.

 

I have rarely read a more arrogant, self-centered and self-obsessed rant. Believe it or not metalstruthseeker, some of us on this site actually do work for a living doing real things. I am so pleased you exercise and work 18 hours a day. It truly means a lot to me and all the other members of our site.

Now after spreading gossip from an disgruntled ex-spouse about Andrew, you now turn this rant into a personal attack on Chris Martinson and Bill Murphy, nicely done.

Perhaps you should spend more time on this site you may learn something.....humility

 

the metal found is not silver but iron

 

Well Jeff I picked the 12th April price smash and that was pure manipulation to suppress gold price.
I can say that with 100% confidence. The rest is history

Ps, my names not AM and I used to stock supermarket shelves 30 years ago [ and I can prove it ]

Give Andie a break and cut the crap! I mean you really want us to believe you don't scratch yourself? Those comments are a bit below the belt. :lol:

 

I thought it was thoughtful, well written, and very truthful.
Especially this bit:

 

What about the other 80% which basically hangs shit on others.


I can only come to the conclusion that it is personal.

If Jeff is so busy in his job and confident of the service he provides his clients, why go out of his way to discredit somebody else ?
Even if Andrew is lying about his past and is saying stuff that Jeff thinks is completely wrong. So what ?

Jeff can't possibly be concerned that us poor gold bugs and forum users are being misled.
He makes it obvious what he thinks of us.

 

Sorry if I offended some of your sensibilities. I should have added that the sort of comments in response to more fully explain why I did what I did is another good reason I do not spend time in chat rooms.

Re 12 April, the selling that started that sell off came from more than 1,000 distinct entities trading on the Comex in about two minutes. When I mentioned this statistical fact to someone, the response was "so the powers that be have more than a 1,000 agents working for them." That is silly, and gives lie to the 'smack down' comments. The data simply do not support that theory. Also, the fact that the periods of heavy trading occur both on the buy side as well as the sell side.

You can question my motives all you want. I started with my first comment by saying I really just want to clean the pollution out of the market. And, part of that is that I do care about people making informed investment decisions and money in gold and silver.

I make my living selling advisory services to investors and others. Net physical silver investment demand is off 43% from 170 MM oz in 2012 to 97.5 MM oz in 2013. Net physical gold investment demand is off 32% from 48.5 MM oz in 2012 to 29.4 MM oz in 2013. Many investors have left the gold and silver markets in disgust. Some have been buying at the highs, spurred on by spurious investment theses, outrageous comments about Chinese gold demand being 82 MM oz and such, and promises that gold and silver would spike to astronomical levels due to hyperinflation that has not arrived, financial collapses in Europe and the United States that have not materialized, and the imminent explosion of non-existent naked short positions at various banks. Those investors have been burned by the polluters in these markets, the scam artists, the bad traders, and the outright liars. They will not be back for years, if ever. They will not be buying gold and silver, and they will not be buying my services. So, I have a personal stake and motive in trying to reduce the BS in the market. These distractions hurt us all.

Jeff

 

^ Any chance of uploading a pic of you smiling holding up a card saying [ Hello Silver Stackers ]

So we really know its you?

 

Sounds more like bullsh1t baffles brains to me :lol:

 

This does it for me :lol:

You guys can believe what you want, but my bullsh1t detector serves me well

 

metalstruthseekering, you have interloped into a stackers' forum. Many of us here do not buy silver as an investment. We do it as a hedge against inflation, in particular USD v AUD, an alternative to fiat, a means of keeping wealth outside of the banking system, and for some, they like silver.

Others can provide a dozen more reasons of the top off their heads to stack silver. If what you say is 100% correct, so what? Most of us here are in for the long haul, we have jobs, property, superannuation, other investments, we do not need to turn a dollar on silver, most swap and trade in order to create a stack that better reflects their wants.

So thank you for your comments, but I feel they would be better directed to your clients who can't seem to reach their own conclusions. We here made up our own minds a long time ago.

 

Yippe I have the model 3000 and it was off the charts 2 days ago

 

The problem is not the spruikers, Jeff. There are spruikers in every market.
Are you going to go after all those promoting the buying of stocks at the top of a bull run right now ?
There are certainly plenty to choose from.

The investors didn't get burnt by promoters - they got burnt by huge market volatility.
A large part of that arises from the futures market itself.
The algo and high frequency trading that increases volatility but adds nothing to the market.
Why aren't you campaigning to get rid of those elements from the metals markets ?