On 6 July, the very day Andrew Maguire predicted a very large buy in the metals market, 50 MILLION ounces of silver were dumped on the market in one minute. Was this done to drive prices down so a large cover to buy was enabled? Who was behind this silver dump? Rob Kirby thinks it was done by the Exchange Stabilization Fund (ESF), under the Department of Treasury to prop up the dollar. The paragraph from the ESF website indicates that they can legally conduct such activities in the best interest of the US at the discretion of the Treasury Secretary.
"The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that "the Department of the Treasury has a stabilization fund …Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary …, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities."
https://www.treasury.gov/resource-center/international/ESF/Pages/esf-index.aspx
See youtube video interview with Rob Kirby:
