• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Correlation Desks Gone Apeshit: Announcement Gov't To Allow 13 Oil Firms To Restart GOM Drilling Whacks... Silver??!!

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Mon, 01/03/2011 - 15:28 | 844783 samseau
samseau's picture

Maybe JP Morg wants it to make look like they are correlated?

Mon, 01/03/2011 - 16:59 | 845065 Turd Ferguson
Turd Ferguson's picture

EXACTLY!!! I just posted this. Please read:

http://tfmetalsreport.blogspot.com/2011/01/thieves-and-criminals.html

Mon, 01/03/2011 - 17:09 | 845103 detersbb
detersbb's picture

Maybe the oil industry has hedged itself outside the oil industury kind of like JP Morgan may have hedged its silver exposure shorts against copper longs?  We know that different nations have hedged themelves against each other, why would/should different industires not do the same?  This would hedge bad parts of the economy/would support-against/by the good parts of the economy.

Mon, 01/03/2011 - 17:19 | 845118 Hephasteus
Hephasteus's picture

No copper kills JP Morgan. It almost killed them before but world war II saved them. Which is why we'll either see 9 dollar copper this year or world war III. Because that's how it works. They don't have gold they use palladium and platinum. They don't have palladium and platinum they use silver. They don't have silver they buy up copper to try to pay. It's just a progression of how broke they get from a real live "money" perspective.

 

 

Tue, 01/04/2011 - 02:13 | 845943 A Nanny Moose
A Nanny Moose's picture

They hedged all that with the Food Stamp distribution. It pays to be an early recipient of freshly minted Benny Bux

Mon, 01/03/2011 - 17:17 | 845119 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

All while the dollar stays rangebound.  Oh well, the EE is only setting themselves up.  Obviously they did no historical checks on what happened in the '60's and 70's when the US and England were manipulating precious metals.  Back then, the dumps spurred price increases only 6 months later.  With all they are doing now, it should only be a couple weeks until we break this range and move from $1420 to $1440.  I think the move above $1440 is the move the EE is scared of.  Imagine when sheeple hear gold is +$1500, what will they say?  Will they not realize what monie is then?

Mon, 01/03/2011 - 21:34 | 845549 thetruth
thetruth's picture

you don't think they know what happened in the 60s and 70s?

Mon, 01/03/2011 - 23:14 | 845705 Lord Koos
Lord Koos's picture

Even if this bites them on the ass this year, they have made billions in the meantime.

Tue, 01/04/2011 - 02:43 | 845962 delacroix
delacroix's picture

Mr. Turd  could the EE be using the after hours globex raids to sell short contracts to themselves, protecting themselves, from delivery, by preventing the wrong investors, from buying their shorts, and basically creating a price suppresion mechanism, for the cost of the exchange fees?

Mon, 01/03/2011 - 15:30 | 844788 TruthInSunshine
TruthInSunshine's picture

... and precious metals plunge. Just because silver extraction is so very closely tight to how deep underwater a given jack up can reach.

LMFAO! Insanity has arrived.

"May you live in interesting times."

Mon, 01/03/2011 - 15:42 | 844805 hedgeless_horseman
hedgeless_horseman's picture

Borders up 3% on the day!

Yes, the same Borders book store that can't pay suppliers.

"When a customer of that size (Boarders) calls you up and says you aren't getting a check, that's a piece of information you have to act on," said Jed Lyons, CEO of Rowman & Littlefield.

http://online.wsj.com/article/SB10001424052748703820904576058261990943614.html?mod=WSJ_hp_LEFTWhatsNewsCollection

 

Mon, 01/03/2011 - 15:44 | 844832 EscapeKey
EscapeKey's picture

You seem to be under the mistaken belief that fundamentals matter.

Mon, 01/03/2011 - 15:55 | 844867 topcallingtroll
topcallingtroll's picture

You are smart and also hot if you really are a girl. The troll likes smart hot girls but not smart guys pretending to be girls be cause that last incident wirh the troll was embarrassing and we wont talk about it.

Mon, 01/03/2011 - 16:11 | 844908 tmosley
tmosley's picture

I think that avatar is a picture of that Russian spy from last year.

Yes, she was both smart and hot.

Mon, 01/03/2011 - 16:15 | 844921 Sudden Debt
Sudden Debt's picture

And I am a hand puppet who works in the Kermit the Frog show by day and deals Ice by night...

Mon, 01/03/2011 - 17:12 | 845114 gravitas
gravitas's picture

... and the domo kun also does god's dirty work on the side.

http://www.flickr.com/photos/9898651@N04/1582978156/

Mon, 01/03/2011 - 16:14 | 844910 EscapeKey
EscapeKey's picture

I swear to fucking god I gotta change my avatar. I'm not a chick, it's incompetent, but hot Russian spy, Anna Chapman.

Mon, 01/03/2011 - 16:17 | 844926 Terminus C
Terminus C's picture

So what you are saying is... you are a hot, female russian spy...

Way cool, do you get conjugal visits?

/s

Mon, 01/03/2011 - 16:33 | 844983 oklaboy
oklaboy's picture

hell I.m just havinfun watchin yall

Mon, 01/03/2011 - 16:36 | 844997 knukles
knukles's picture

How 'bout an incompetent conjugal visit?

Mon, 01/03/2011 - 16:38 | 845004 knukles
knukles's picture

Then again that's sorta like box'in yer goofie, isn't it?

Mon, 01/03/2011 - 19:34 | 845399 Don Birnam
Don Birnam's picture

A Moscow mademoiselle from deep in the heart of the KGB! Vodka martinis all around!

Mon, 01/03/2011 - 16:14 | 844912 Dr. No
Dr. No's picture

She is a confirmed Russian spy. But I deny any rumors she is actively being recruited by Spectre.

Mon, 01/03/2011 - 16:16 | 844919 Fish Gone Bad
Fish Gone Bad's picture

+1

Mon, 01/03/2011 - 16:38 | 844999 swissinv
swissinv's picture

well remembering you great technical analysis about the upcoming USD/CHF increase when QE2 was lauched;) (as a little reminder we are now at 0.9335) maybe time to Escape from the bollinger band to real fundamentals - or do you want to explain you're bullishness on silver on manipulated price charts???

Mon, 01/03/2011 - 17:10 | 845100 detersbb
detersbb's picture

Maybe the oil industry has hedged itself outside the oil industury kind of like JP Morgan may have hedged its silver exposure shorts against copper longs?  We know that different nations have hedged themelves against each other, why would/should different industires not do the same?  This would hedge bad parts of the economy/would support-against/by the good parts of the economy.

Mon, 01/03/2011 - 21:30 | 845538 strannick
strannick's picture

Maybe we'll hear they discovered the biggest silver deposit ever while drilling for oil. Like that Afghan gold deposit in the news for 10 minutes.

Mon, 01/03/2011 - 23:38 | 845759 TruthInSunshine
TruthInSunshine's picture

They're drilling holes to China, to get some rare earth.

Mon, 01/03/2011 - 15:30 | 844791 Greater Fool
Greater Fool's picture

Betas must be preserved. It's a service they provide their clients.

Mon, 01/03/2011 - 15:31 | 844793 Cleanclog
Cleanclog's picture

No risk, VIX now below 17 at 16.9.

Medicated manipulation continues unabated into 2011.

Mon, 01/03/2011 - 15:31 | 844794 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Nothing makes logical sense anymore in this 'market' and that's the way the powers that be want it. Because logic = truth, and truth is the enemy of the powers that be. Truth is what they say it is.

Order out of Chaos.

Mon, 01/03/2011 - 15:33 | 844795 Eternal Student
Eternal Student's picture

Yessss! I was figuring that they'd do something like this during this week. Next up is Blythe and her evil flying monkey brigade to follow up with a serious exploit tomorrow or Wednesday. Goodness knows they needed some help here, as they have been getting clobbered lately.

Drive that price down, oh Wicked Witch of the East Coast. I was waiting, and now I'm going to be buying!

I love these fire sales!

Mon, 01/03/2011 - 15:40 | 844823 Grifter
Grifter's picture

A whack down to $25 or so would be nice.  I'd Andy Samberg if a move to $20 happened.

Yes I know, neither will happen.  A guy can dream however...

Mon, 01/03/2011 - 16:29 | 844963 Hearst
Hearst's picture

My thoughts exactly.  Just got sent a new Citi card with 0% APR for 18 months.  If Silver drops to $25 I'm loading up.  Fuck the surcharges incurred by paying with plastic.  I'll take the physical.  If this corrupt economic system is still standing this time next year I'll deal with that then.

Mon, 01/03/2011 - 21:38 | 845556 thetruth
thetruth's picture

I think I got the same card in the mail.  What is the credit limit on that?  Got another one from Citi with General Motors rewards.  That's even better

Tue, 01/04/2011 - 00:07 | 845806 Hearst
Hearst's picture

Only $8700,,or just about enough to buy half a green box of eagles.  It's not to uncommon to get 12 Mo 0% APR, but 18% is rare (for me).  If Silver dips I may contact them to try and get a larger limit.  Never got a GM one...

Mon, 01/03/2011 - 16:32 | 844987 destraht
destraht's picture

Don't scare me like that.

Mon, 01/03/2011 - 15:32 | 844796 EscapeKey
EscapeKey's picture

What are the odds of a decision not going the way of the big corporation?

How can you trade on this near certainty?

Mon, 01/03/2011 - 15:33 | 844801 TruthInSunshine
TruthInSunshine's picture

Why would anyone want to take on the risk of trading this unless they're on schedule for meetings with Obama, Geithner, Bernanke, Sacks & Co.?

Mon, 01/03/2011 - 15:35 | 844808 Spalding_Smailes
Spalding_Smailes's picture

Buy semiconductors. SPRD,MIPS ... 

 

Mon, 01/03/2011 - 15:32 | 844797 Ferg .
Ferg .'s picture

Well that worked out beautifully . Shorted WTI crude futures at $92.50 a barrell earlier .

Mon, 01/03/2011 - 15:33 | 844803 Internet Tough Guy
Internet Tough Guy's picture

They have been smacking the metals all day. Any excuse will do.

Mon, 01/03/2011 - 15:33 | 844804 The Disappointed
The Disappointed's picture

Not much of a 'whack' to the price of silver, IMHO.

If 30 cents are as much as 'they' can manage anymore, then the end game is truly upon us.

Mon, 01/03/2011 - 15:37 | 844813 Freddie
Freddie's picture

The JP Morgue and The Ben Benank with Blythe will keep trying to whack silver. 

Mon, 01/03/2011 - 15:51 | 844850 Sudden Debt
Sudden Debt's picture

This might well be their last smokescreen opportunity to try to get the price down.

And the more they try to supress it, the more it jumps back and the worse it gets for them.

Also there seem to be involved many more banks involved in the shorting escapade and the total silver bet is now growing to nearly 317 billion dollars. Enough to sink all these banks involved.

So I think we might expect some nasty rumors to try to get it down if this one fails.

Mon, 01/03/2011 - 16:11 | 844907 The Disappointed
The Disappointed's picture

And now I read that bazillionaire Carlos Slim is going to buy (some/all) of Fresnillo....

Maybe that is the reason a takedown was needed today.

Mon, 01/03/2011 - 17:07 | 845095 Oso
Oso's picture

this rumour first appeared summer time.  While it seems logical, nothing has happened yet, so dont get too excited yet.  The majority shareholder is one of the other richest dudes in Mexico.

Mon, 01/03/2011 - 16:54 | 845050 Drag Racer
Drag Racer's picture

\\ BREAKING NEWS //

Top scientists and enviromental experts have found a direct link between silver and global warming. All silver must be ............... sorry, we are experiencing technical difficulties due to net nuetrality.

Mon, 01/03/2011 - 15:34 | 844806 CrashisOptimistic
CrashisOptimistic's picture

Do you realize that from the moment a GOM drill operation starts until the first drop of oil flows is 5+ years?  It will take an extra year to reserve the equipment, now off the coast of Ghana.  

Expect more meaningless announcements because the one thing they are not is stupid.  They know oil is everything.  If it takes off, wars start.

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