Andrew Maguire, a renowned expert on gold, said that the jig is up for the dollar. It’s time as a superior currency is over, but that’s great news for gold.
Maguire, who is CEO of Kinesis, will be rolling out a gold backed currency in the fall, in preparation for the eventuality he says is certain. Physical gold and silver will break free of price suppression and manipulation, and it will be caused by the fall of the dollar.
In an interview with USA Watchdog’s Greg Hunter, Maguire laid out what he thinks the gold market and the new Kinesis currency will look like.
Maguire says there will be actual precious metal backing up the new currency, Kenesis. Maguire says:
“The backup will be gram for gram. This is the interesting part about it. We all know that the paper markets (for gold) have leverage of 500 to 1. We actually think it is much closer to 1,000 to 1 when you account for all the derivatives. . . . Here’s the thing about Kinesis. We’re talking about a market that is at the margin. It’s so tight this physical/paper market is already at the margin. We are witnessing right now real competing physical demand, and that is forcing discipline on the paper market, and it raises the point where the lines cross. . . . What’s it going to do to the paper market? It’s going to raise the offer to sell immediately deliverable physical gold. . . . Kinesis is going to be a game changer.”
Maguire goes on to say that a price reset in gold and silver is inevitable. Even though he isn’t sure when it will happen, he says he suspects it will happen on a Friday.
We are very close to a price reset (in gold and silver). What is a price reset? It is no more than settling . . . close to a trillion dollars of derivatives that are underwater and unable to be delivered. It is going to be a simple paper market reset. I suggest it will likely happen on a Friday . . . and there will be a known default and a price adjustment for Monday morning. . . . You will be into a bid only market. There would not be any offers to sell gold. . . . I am not going to guess on a price. . . .I know of two investor groups that are buying physical gold because they know there is going to be a physical price reset.”
In closing, Maguire says, “The jig’s up for the American dollar. Obviously, it’s not going to be overnight, but it is happening. Gold has to appreciate in this environment.”
How many times have I heard this story! Trekker Out
Probably less times than me. But I know it will happen and I have been into metals for the last 22 years. Back in the Ted Butler days I spent shitloads of money on silver. 4-4.50 per oz. So I really have never lost a dime in fact I am pretty far ahead. The most I have ever paid (besides 10 bux an oz. years ago) Was just recently. Only because I needed a place to park some cash savings. I know I should keep it all in the bank and collect .oo1% interest but my toilet watching cat advised against it! 😛
I doubt it Genius! I still remember when my Ex thought I was crazy when I gave 15 cents a piece for some pre 65 dimes, and that’s been a while. But on the other hand I also lost my butt when I invest my Kids savings with the International Gold Bullion Exchange thinking someday they would make some money. I had to replace their savings. Trekker Out
Too many times,morons trying to be insightful. Not sure who Mark is, but an economics and financial guy he is not.
Sure do wish I had some gold besides a no-longer valid wedding ring I’ve got in a drawer somewhere around here. Have a bit of silver stashed. Don’t think either though will buy much if it all comes down. Have a bunch of ingots of lead and some makins’ for other items that might come in handy. I reckon that my extra cans of food, everyday stuff like soap and basic stuff will be worth one hell of a lot of precious metals. Maybe enough to be able to use that old ring again. Never know.
Paper money is going the way of the dinosaur. Even gold backed currency will be rejected. We will return to direct exchange of goods and services, digital dollars, and exchange of real gold and silver coins. It’s too late for gold backed currency. Nobody trusts anybody anymore.
Bob Moriarty has a different opinion.
Trump China and Russia all have the same goal. To dismantle the FED. You can audit them or they will JFK you. but if the money has to be backed by gold and not the petro dollar. that is the end of the FED. and the spending measure Trump just signed? It pays for the tribunials. If fact Trump can spend the money how he sees fit. Since its not a budget the provisions are simply recomendations and cannot be enforced. As long as Trump spends it on government operations and don’t steal it or give it away he has a free hand to build the wall and fix infrastructure.
I don’t own any gold, how much over spot price is charged for a one ounce gold coin on average?
Forget gold buy silver. It is wayyyy undervalued compared to gold. Gold is ok if you need a more compact store of wealth but silver will outperform it. Both the sites that advertise here have good deals.
A while back I loaned a family member a significant( significant to me) sum of money to get his business through tough times. Nobody pays net 30 anymore.
He wanted to pay me back in silver, but I had him pay me in dollars, since he could exchange silver easier than I can. He had a hard time converting the silver into dollars so he was late paying me back.
I got paid (he is the only family member I will loan money to), but if you have a tough time exchanging silver for dollars in Idaho, think what it will be like if SHTF and UPS/USPS/FedEx aren’t working.
Most all coin shops, pawn shops will give you 90% of face. I have NEVER seen a pawn or coin shop not buying. You can get more than spot on ebay and right at spot on craigslist. Your relative some kinda potato head or something?
He is dealing with Mormons and J3ws. He held out for the highest price.
You probably have never done much business in Idaho, they are brutal.
As for potatoes, he is definitely in the business.
Oh I grew up in Idaho. I know all about those potato heads. And you are spot on, mormons and chewwies are some cheap bastards lol. His best bet is ebay, you can get a really good price even doing a 24 hour auction. The bummer is the 10% cut but you will still outdo the pawn shop price. Demand immediate payment too. Ebay is great especially for those who live in the sticks….
So I guess you know about Rock Chucks, playing basketball in cowboy boots, and livestock gate protocol.
In Twin falls I know how that rock was put at the high school. I assume it is still there.
Were it not for my rule to live within 50 miles of an ocean I’d be in Idaho near the snake river.
Happy Easter or Passover to all.
Know exactly what you are talking about- grew up in Idaho Falls, went to school in Moscow, lived in boise and twin falls and now Orofino- and no- I am not a mormon
yes and no
take $10000 buy silver=500 silver eagles -$1450 over spot
10 k worth gold-$ maybe $300 over spot
i have both but gold is a lot cheaper & easier to lamb out with..
Try APMEX (www.apmex.com), which is based in Oklahoma City. They have been great to work with–low price over spot, solid delivery process and a wide variety of coins and bars (gold, silver, platinum and more).
Looks like 20 bux over spot for the RMI 1oz. bars.
aljamo, try the starter pack from JM bullion. Spot price and free shipping. Very nice coins and packaging too! 🙂
Thank you Genius for the replies.
I like to buy from https://www.providentmetals.com/. They are as competitive as I’ve found and very dependable. If you are just starting I agree with Steve, owning some pre 1966 silver coins is a good place to start along with some silver eagles. Work your way up to a some 10oz silver bars (Provident bars are fine…don’t waste money on the big brands). For gold buy PAMP bars instead of the Eagles, you will save money with lower premiums. You can start with some 10 gram and work your up to 1 oz. After you have a core of the above you can splurge on some eagles. I’ve been buying since 1980 and use to actually be a wholesaler at one time.
I can get ya gold at spot.
I agree with Genius. Silver has a lot more upside. I like to purchase bags of pre-1966 US silver coins. They could possibly be used as a medium of exchange in the future. My gold coins are not for SHTF survival, but for the hopeful rebuilding afterwards.
Have I got a special deal for you! Rolls of 1965 quarters for only $100. Buy more than 10 rolls I’ll do them for $90 each.
Ha ha ha, I will beat that price! 🙂
Also look at yard sales for cheap sterling silver items. .925 fine should say .925 on it or sterling. I have bought solid silver (be very aware of plated) silverware for half what the melt value was. Also talk to some of the “will buy gold and silver” peeps as I knew one that sold me junk silver coins for melt (saved him shipping to the refinery) and we both made out.
Actually mint state 1965 quarters are not cheap being the first non silver US quarter.
Of course the price of gold & silver will go up if the dollar crashes! But, if you price it in dollars…you’re right back where you started! LOL! It’s like getting a 20% raise but the cost of living goes up 20%! You don’t make any gains. It’s all smoke & mirrors. You only come out ahead if the value of the dollar holds firm AND the price of gold & silver goes up.
A while back, uncle Intel told me that all of the money printed and all of the money lost by the US government, went into buying real gold and silver. The USA has more than anyone, tens of trillions of dollars worth. They are only waiting on China and company to try to sink the dollar. But uncle clearly drinks a bit.
Just another Gold TVevangelist.
Been coming to this site for 6 years now…give or take…the Jig has been up since then. Same thing with nuclear war, the economy collapsing, running out of oil, taking our guns, NWO, blah blah blah. The latest is HUGE gov conspiracies to murder thousands of US citizens to push a agenda and there is fuzzy video proof…..or my favorite…false flag.
There is an EVERYTHING reset coming. Already here.
Slow, agonizing burn. All the way to the bottom.