How The CBOT, Comex And CFTC Coordinated To Break The Last Silver Price Surge

Tyler Durden's picture

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efiniti's picture

Breasts!  They're Fucking D's!!

Captain Benny's picture

Anyone that thinks that the big spot price drops in silver are scaring away us buyers may want to think twice and consult some real cold hard #s.  Besides all the first-hand reports of people talking with dealers that say sales are picking up and at all time highs, here is some info collected from APMEX:

This isn't anything like the January dip, the market is accelerating... BTFD and watch it roar.

APMEX is moving 100 oz bars like they're candy.  The only bar they have in any kind of quantity is the JM bars and those they could be sold out within a week.  Take delivery.  The Memorial day sale arrived a little early... :)

Transformer's picture

Hey, I'm on my high horse now.

So what the fuck is APMEX doing selling their bars so cheap that they run out of them in short order? 

OH, I forgot, it's that federal law that says that metals must be sold at Comex prices, I forgot!!!  sarc/off

APMEX is in the position, where they could be the pricesetters.  After all, read the name!! It says, "America Precious Metals Exchange"!!!! 

BOY!! are they ever missing out on an opportunity.  They could be setting their price based on Supply and Demand.  AND, they are so big, they just might become the price authority that every one else refers to.  Local dealers could be pricing their silver at "APMEX + $1.50" or whatever.  You go into your local store and the guy behind the counter says, "well, let me see I'll check the APMEX"


traderjoe's picture

Yes, please, save us from ourselves!

Or leave.

I'll choose the 2nd. Thanks.

tmosley's picture

As long as they are able to get supply, they are free to have whatever prices they like.

As the spot price continues to fall, they will find themselves unable to bring in supply, and will be forced to raise their premiums more and more.  This is already happening.  Eventually, they will realize that the premiums are greater than the spot price, and will stop taking spot into consideration.

There is no reason to expect this to be an instantaneous process.  It could take months or years, or it could happen in weeks.  It depends on how outrageous the CME continues to act over the coming days.

Transformer's picture

The CME has perpetrated a vast fraud.  The pinnacle of which was this past week, when everyone, and I mean everyone, who trades/buys/sells silver knew they were manipulating.  Throughout history, fraudulent activity cannot continue when all the players know the fraud.  I think this will happen very quickly, probably just in a matter of a couple weeks.  We, here, are at ground zero on this (Zero Hedge).  Thousands and thousands of people read this stuff.  You will see the change building momentum over the next days and weeks. 

And you know what?  I think the turning point was that CFTC hearing in March of a year ago.  The truth was stated by the GATA guys, and then that idiot,  that complete numbskull, Jeffery Christian testified and backed up the GATA guys.  That was it.  What a stroke of luck that the Evil Empire sent that boob to testify for them. 

SRSrocco's picture

Captain that chart for all orders...or just BUY?

sabra1's picture

i forbid my six year old son from reading ZH because of your avatar!

i-dog's picture

Do you also lock him in a cupboard so that he doesn't see any cleavage out in the street?

Diogenes's picture

Your bottle fed six year old son I presume?

tarsubil's picture

Oh, I get it. People want to put their "junk" in that.

clymer's picture

They bought time, but will not succeed in any permanent result unless Bennie pulls a Volker and raises rates to many many percentage points highr than is possible without worse consequences.


Silver is going to 100, then 500. Might take 18 months or 60.. Doesn't matter.


Learn it. Know it. Live it.


(and ignore robo's dramatic and fawning caricature of his feared slave master, mr. rich banker below)

Transformer's picture

But, their time is up.  I think this is it, the end, of the Comex Silver Scam.  A scam can only continue when people don't understand what's happening.  They were so blatant in their manipulation on Sunday nite, and then continued blatantly all week, that only a total idiot could go on believing the lie.  So now, the industry starts to set their own physical price.  Market segments have been able to set the physical price for their products for thousands of years.  It's actually pretty easy.

Silver is going up, way up, when priced in dollars.  But the dollar is depreciating so quickly, that the actual reality, is that silver is going up some, the dollar is going down.  If you want to know how much silver is really going up, that's in the gold/silver ratio.  Want to know how much the dollar is really going down?  that's the gold price, not the USDX.

Tail Dogging The Wag's picture

let's get physical, physical...

Hushups's picture

Well at least you have the courage to admit that you're a coward.


Meanwhile the story of the 80's and the story of today seems to diverge from each other at the end point. In one story everyone is selling their silver, in the other story everyone bought everything they could.


**Spoiler Alert**


King Kong dies.



buck4free's picture

Absolutely. Ben Davies alluded to this a few days ago when he was making his top-call on an interview on KWN. He said that even he had overlooked the amount of physical demand by small investors that had been spurred to action largely via the internet.

This is a bottom-up dynamic completely different from the cornering in Hunt's day.

King Kong can wrestle Godzilla, but he has no effective weapon against a global swarm of African Killer Bees.

Caviar Emptor's picture

Exactly. The internet has a lot to do with it. For one thing it created a wave. A big one (no tsunami metaphors tonight, sorry). It's not just about the ego of a single person or firm. For another thing, the internet has allowed access to information that the public was previously kept away from. The truth shall set you free. Finally, the internet allowed individuals to draw their own conclusions on economic data. The data is what pushed buying in precious metals. And it's going to continue as wave after wave of new entrants keep coming, learning and deciding for themselves that the only way to protect earnings, savings and wealth from the programmed and ordained decline in the value of currency is through PMs. 

fockewulf190's picture

Uncle Gorilla is going to find out quite soon what kind of damage a silver bullet can do from a SLA rifle.

tmosley's picture

More like thousands upon thousands.

I envision the scene as something like this.  The kid complaining at the end is Robotrader.

Of course, in our case, ALL the bullets are silver.

FIAT_FixItAgainTony's picture

amen ! 

and with stabs in both achilles heel's with silver knives along with repeated raps to the head with giant silver shields covered in real shiny blinding silver spikes.


"where?  behind the rabbit?"

"i'm warning you..."

Transformer's picture

Right on.  We are the killer bees.  We do not need slick New York con men in $2000 suits telling us what the price of silver is.  We have so much more power.  They have just mounted the biggest assault they can possibly do. And what?  All the dealers are sold out?  Producers, distributors, dealers,   WAKE UP!!!

Dejean Splicer's picture

One (1) 2011 American Silver Eagle Coin 1oz

Just ended. May 06, 2011 19:41:14 PDT

8 bids, winner $44.51.

FIAT_FixItAgainTony's picture

ahhhh.  another verification the paper silver price is not reality !

"Sweat not the alleged market corrections for they are as a fart is to the wind."

FIAT_FixItAgainTony's picture

glad i picked up 7 2011 ase's when they were 32.25 each with shipping!

Transformer's picture

Yeah, and let those City Slicker con artists fart all they want.  Supply and demand rules.  Fuck the COMEX.

mrgneiss's picture

It's okay GZG, you can let it all out here, there is no Ynot2K looking over your shoulder.

Stormdancer's picture

rofl!  Good to see you too mrgneiss :)

mrgneiss's picture

Great to see you as well Storm, keep up the good work!

Rick64's picture

 Well at least you have the courage to admit that you're a coward.

 Would you face George Saint-Pierre in a UFC match?

i-dog's picture

Irrelevant. This is asymetric warfare ... they have the printing presses and politicians, we have the internet and superior numbers (growing numbers, as people are awakened).

Transformer's picture

Exactly!!  We don't need con men in $2000 suits to tell us the price of silver.  We have more silver than they do.  As far as physical is concerned, they are a very small part of the market, a couple million ounces every other month.  The mint sells more silver than they do.  We buy way more physical, probably 10 times as much as they sell.  What in God's name do we need them for?  Let them sell paper to whatever fools want to buy it.

Bagbalm's picture

Federal Reserve Notes were more desirable then.

Transformer's picture

Yep, you got it.  The Hunts almost had it.  If they would have just focused on real silver and backed off the Comex when the Comex started making noise, they could have pulled it off.  They already had a huge stash of silver.  Bunker had issues with "the northeast establishment" and didn't act rationally as a result.  Only, dig this.


The $2000 suits are just about out of silver and now can only sell paper to each other, and whatever fools think they can beat them at their game.



Rynak's picture

Updated list of probably paid trolls:

grand supercycle
texas gunslinger
alcoholic native american
Paper CRUSHer
mogul rider
red barron


Expect the following messages:

- "You are impotent and defeated, better give up now, you cannot win!"

- "Holy shit, do not buy now! Please, do not buy!"

- As usual lots of copy-paste spamming

topcallingtroll's picture

Actually I have documented last thursday to buy ZSL at 13.69

I documented this morning to buy AGQ at the open and sell after a quick bounce.

I not only loved silver this morning. I loved it enough to go double silver!

I am not silver's enemy.
I am silver's fair weather friend.

Rynak's picture

Sorry, seems like you got catched in the crossfire in a thread a few days ago, i try to be careful before including someone, usually waiting for 4-8 consistent posts in a row... but with the flood of shit in recent days, i'm not free of mistakes.

bothsidesnow's picture

Look at you, you post as akak and rynak, pussy.

tmosley's picture

I think you are thinking of yourself there, Gold 36000.

topcallingtroll's picture

Thats cool!

I do like to troll you guys every once in a while, but all in good fun!

After all we all hate the banking oligopoly. We got something in common.

bothsidesnow's picture

Go and read my posts I'm long physical. I began to recommend shorting paper before the top to raise capital for additional physical purchase.

Once the likes of akak and TMosely started bashing me I decided to play the childish game with them.

Now I can buy more physical with my paper profit when it drops to 28-30 which is where I entered.

Some times you have to be a friend of paper.

Rynak's picture

Thanks for openly admitting it yourself.

(your motives change nothing about the consequences of what you're doing. I don't dislike you for your investments - i couldn't care less about them - i dislike you because you are intentionally lowering the quality of threads for your own amusement (or wealth, whatever))

Oh, and by the way, in your above post, you say

"Now I can buy more physical with my paper profit when it drops to 28-30 which is where I entered."

But then later down in this thread, just a few minutes later, you wrote:

"Silver will be going to 9 again. Then it will be time to buy."


You're just making numbers up randomly, fuckhead. You have zero credibility, troll.

Dangertime's picture

I'm a paid troll because I bought puts for two weeks and on up to the top and sold them two days later for a 100% gain.

You people have serious issues.


tmosley's picture

And claimed to have bought at the absolute low and sold at the absolute high and didn't know basic price action that any silver owner would have known and claimed that he didn't have to pay capital gains taxes and refused to tell us all where this magical fairy kingdom with no capital gains taxes exists.

I think you are the one with issues, newfriend.

bothsidesnow's picture

More drivel about coordinated efforts, conspiracies, blah, blah. Conspiracies of paid trolls. You are delusional.

We are headed for deflation and possibly depression. Pump and dump. Pump and dump wave get's bigger until everything implodes. Time for the dump.

I'm not sure your physical will buy you anything in a deflationary environment. Perhaps you will be able to make a solar panel out of it. Some very good DIY sites on constructing solar panels. LOL

This message paid for by the Federal Reserve, COMEX, CBOT, TPTB and not endorsed by the Pimple (Precious Metal Sheeple). LMFAO


Muir's picture



ignore him BTFDS!!


bothsidesnow's picture

Looks like at least one person agrees with me ;)

EscapeKey's picture

Which of your alter ego's would that be?

Hephasteus's picture

It's just tragically funny to watch.