Maguire - Ludicrous Gold Drop Predictions Being Made To Convince Producers to Hedge

``[Banks getting producers to hedge their gold output] has had some success in the $1,300s, and the mid-$1,200s.  But with some miners having sold forward production through 2014 it's become far too stretched.  These same bullion banks, and China, are taking the long side of these forward sales, and they are going to profit immensely... But with most producers at or below the cost of production now, this window is closing. Most producers will not be able to convince investors to lock-in prices below the cost of production. What this means is mine supply is going to be reduced dramatically. This is the perfect storm brewing.''