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Water, Meet Blood - JP Morgan Admits To, Reduces Massive Silver Short Position, Proves Millions Of Conspiracy Theorists Correct
In the latest example that virtually every conspiracy theory is almost always inevitably proven to be fact, the Financial Times reports that JP Morgan, the firm targeted by thousands of "tin foil hat" wearing, conspiratorially-oriented "gold bugs", has cut back on its US silver futures. "JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal." And in what can only be considered an unprecedented victory for all those who have over the past year agitated to putting JP Morgan out of business, most recently spearheded by the likes of Mike Krieger and Max Keiser, by forcing a massive short squeeze on its commodities trading desk, we learn that "the decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said. The person added that the bank’s position in silver would from now on be “materially smaller” than in the past." Of course, the latter is pure and total bullshit: as Bart Chilton indicated over the weekend, it is JP Morgan who at one point or another (and possibly very recently) controlled as much as 40% of the silver market, via a massive short. Attempting to make others believe that this short could be covered without pushing the price of the silver metal to over $100/ounce is an indication of either how stupid JPM believes the general population to be, or just how desperate the firm is to end the ongoing short squeeze onslaught. Either way, we are confident that this first unprecedented confirmation that a) JPM is indeed massively short silver and b) that it is hurting bad, will merely redouble efforts to put the world's biggest financial company out of business. Lastly, this means that silver is about to really blast off as the push to really hurt JPM takes off in earnest.
From FT:
The US regulator, the Commodity Futures Trading Commission, announced in September 2008 that it was investigating complaints of misconduct in the silver market, although it did not name specific entities.
However, JPMorgan said in a statement: “It is absolutely incorrect to say or imply that the Nymex, CFTC or any other exchange or regulator has instructed or asked us to reduce our position.” The bank declined to comment on whether it had reduced its position in the silver market.
The price of silver has risen more than 70 per cent since mid-August to hit a 30-year high of $30.68 a troy ounce last week on the back of a surge in investor buying and a rebound in industrial silver consumption.
In two previous reviews of the silver market, the CFTC has dismissed claims of manipulation. Most analysts say there is little reason to believe the price of silver is being systematically manipulated.
But Bart Chilton, a CFTC commissioner, said in October that he believed there had been “fraudulent efforts” to “deviously control” the silver price. He did not name any party.
Publicly available data on individual traders’ positions are sketchy. In a speech last Wednesday, Mr Chilton said that “earlier this year, one trader held more than 40 per cent of the silver market”. He declined to identify the trader.
The CFTC’s Bank Participation Report shows that one or more US banks held a gross short silver futures position equal to 19.1 per cent of the total number of outstanding contracts in early December. In January the share was 30.2 per cent.
The CFTC only reports data for the US silver futures market, a small corner of the global derivatives market for the precious metal, which is centred in London and largely traded via private over-the-counter deals. The data also do not cover transactions in the physical market.
Analysts and traders said that JPMorgan’s large short positions on New York’s Comex exchange, a division of Nymex, were hedges for the bank’s long positions in physical silver and London’s over-the-counter market.
JPMorgan has invested nearly $3bn over the past two years in its commodities business led by Blythe Masters.
And while we revel in the knowledge that the short squeeze is causing massive pain for JPM, we are far more overjoyed that the days of Blythe Masters as head of JPM's commodities desk is coming to an end: any comparable massive admission of weakness by a trader is always and inevitably followed by some very high profile terminations.
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JPM is right now getting out of silver and moving into copper.
See the rise in copper happened almost at the same time as silver in August.
Welcome to the forum. I hope you have a thick flame resistant skin!
As to JPM and copper it's interesting. I read somewhere China was considering a tri-metallic currency regime. I wish I could remember where.
Here's a related article
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/516012...
From April 2009:
A 'Copper Standard' for the world's currency system?[snip]:
Nobu Su, head of Taiwan's TMT group, which ships commodities to China, said Beijing is trying to extricate itself from dollar dependency as fast as it can.
The next industrial revolution is going to be led by hybrid cars, and that needs copper. You can see the subtle way that China is moving into 30 or 40 countries with resources," he said.
Beijing may yet buy gold as well, although it has not done so yet. The gold share of reserves has fallen to 1pc, far below the historic norm in Asia. But if a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a "Copper Standard" as a "Gold Standard".
The question is:
Is JPM fronting China, blocking China, gouging a monopoly or all of the above?
Addendum: From a macro perspective this doesn't look like inflation in China so much as it is a large scale and long term conversion of USD holdings by stealth into the securing of primary resource base metals both in physical pools in China and in mine interests elsewhere to vertically integrate ownership and price control (hence profit control) of all the elements of manufactured goods produced by this country.
The world reserve currency is shaping up to be the finished manufactured product increasingly owned by China through its stake in its control of the raw and finished components before it is ever sold to the end user.
The iCrap as currency.
I have been wondering: Could a huge stock market crash help JPM cover their short silver position in that people could heavily sell PMs and buy stocks at very low prices? and...Would TPTB engineer such a stock market crash to help JPM? Just a thought. The fiat situation may keep a lot of people from selling their PMs for any reason.
Don't swallow your mexi-jumping beans yet. These slithering reptiles had plenty o' time to get ready and have their delegates prepared. Expect large numbers of proxy new shorts to move in soon.
So, Blythe? Who's "scared sh*tless" now? What goes around comes around. Instant Karma, baby!
The FT story by Jack Farchy is a verbatim recitation of GATA. Blythe is now "scared sh*tless" herself, hah! Instant Karma, baby!
Boo-ya-kaaa!!!
“materially smaller” than in the past."
translates to:
"we've just un-un-doubled our short position."
May the childhood rhyme prove true: Cheaters never prosper.
JPM will have to use shell companies to do the work, now.
Or they get Goldman's Sacks to do it for them...or another company, while JP Morgan helps them out with something they want to cheat at...
The Goldman Sach would never do this job, they are way above it. Shell corps can not finance this; the silver short was one of if not the biggest farce ever perped on humanity. Watch how fast the FIAT syatem fails now!
What if you gave the shell corp. the money somehow? I want to be a believer, I do. If Ben is in this, he can just make it come into existence, anywhere he wants. Perhaps I am being childish, but I have no idea what would prevent him from doing it.
Give them.......dollars?
This news is the sun on the vamps face. Shorting silver was THE ONLY THING HOLDING THE DOLLAR UP. The dollar is done. Move to dxy 78 tomorrow, 77 by Wednesday, and by Friday the bottom falls out. DXY 66 within weeks. The game is over.
It's like a game changer from Rock Paper Scissors to Glock Paper Scissors? Kill your customers so you don't have to deliver. Let's get world war 3 started. I grow tired of the endless stupidity.
hehe.
Quick Wizard of Oz, pull the lever that says "Euro zone panic" so as to depress the EUR and boost DXY. Get the Mainstream Media to the printing presses, quickly!
Tomorrow's headlines read: "Panic on the Streets of London, Panic on the Streets of Birmingham, Panic on the Streets of Carlysle, Dublin, Dundee and Versaille"
Couldn't happen to a nicer bunch of Socialists! :>D
This is just like how we are forced to watch modern reruns of films from yesteryear.....Spiderman, Superman, etc. No creativity by today's commodity brainiacs....just dust off the same old " necessity " cons. Hunt Brothers worked the silver scam decades ago......behind the oil, coffee and sugar shortage scams. Enron had the electricity futures squeeze. This is like the chain letter that turns up every 10 or so years, only now more frequently. Lapsed memory falls for the play every time and gets Wankered at the top. Beware.
What looks to be a H&S top on the $USD daily chart may make short-term move even more interesting.
silver to $25.00 by the end of the yr. they have to put.
We will never see $25 an ounce for silver again in US Dollars in our lifetimes.
Perhaps in 2013's new RentenDollar.
Ein volk.
Ein reich.
Ein Chairman.
Bernanke uber alles!
I guess I was junked by ... a lurking Nazi with a chip on his shoulder?
(For those literal-minded persons junking my post above, it WAS made in jest!)
I'm sure you have. Been junked by the same when calling out their BS.
Me thinks maybe Leo called the site DBA to let him write multiple junks agains you.
LOL, that thought occurred to me as well!
I'm surprised he didn't make a post to remind me, and the rest of us, that the corporations and elites "own us", and that of course, "There's not a damn thing you can do about it". That smug and venal coward really gets my goat.
@ akak,
I leave ZH for 3 hours to read and have dinner (while on vacation in PERU ferchrissakes), and look what happens! I miss this big story breaking. Do I ahve to stay here 24/7 ???
Still this is wonderful news for Peru, looks like a LOT more capital will be coming in. And more bearings to be sold.
...
Yo, JPM, esp. YOU JonNadler! Get that price of silver back down to $24.00 or thereabouts so I can pick up some more on the cheap when I get back!
DoChen, I hope you're having a great time down there! Be sure to have a Pisco sour for me, and some of that great Lima ceviche! And if you make it up to Cuzco on this trip, some aji de gallina and of course, CUY! My favorite!
Check these out:
http://www.coin-rare.com/12-oz-silver-bars.aspx
Suweeet! ONE TROY POUND!
OMG, is that fucking funny! I'm buying some of those.
Yup, very fitting. Picked one up a few weeks ago. Quadrillion is the new trillion, though...
stop defending yourself against some "raciss" charge that you are INFERRING someone is making.
Look, everyone just stop fearing the label, stop using the label, move on.
Trav,
Did I ever tell you I think you're a PM loving joo-nigga-spic?! : )
Best Regards,
Hook, Line, and Sphincter (I'm a wigger, descended from a chigger and a spigger)
You mean in 2013's new Judefetzen?
...you might see it if it flashes and your blinking eye moves at the speed of light...you also might see it in the paper price on its way down to zero as the reality-physical price runs the victory lap around the globe with gold and platinum giving "high-fives" at the finish line.
Freegold, bitchez
+ $1385
or should I say + $55,000?
If the universe is indeed curved, then given a powerful-enough telescope, you should be able to see the back of your own head! :>D
I do like that positive curved universe theme, it would nicely explain a universe that exists in the ever-present moment, where time and space are but constructs imagined for our convenience.
Every conspiracy theory is eventually proven correct? LMAO!!! Like the one where we never landed on the moon? What a freakin joke.
Why prove a conspiracy as correct... when one can simply view it as self-evident..
Mankinds repeated trips to the moon since then obviously proves that conspiracy false.
Yeah, its pretty hard to fake the laser reflector that is on the moon's surface. It is used by observatories to measure the earth-moon distance as it increases slowly due to orbital mechanics.
Reference:
http://en.wikipedia.org/wiki/Lunar_Laser_Ranging_experiment
Hey Einstein...
You know the Soviets placed mirror reflectors for laser measurement and brought back lunar rock samples robotically without ever setting foot on the moon?
Jeesh, there are no reflectors on the moon, cause if there were, we couldn't hit them anyway ... the whole surface of the moon is a "reflector".
Reflectors on the moon, gawd, it takes a laser beam 1.4 seconds to reach the moon, which the moon btw, has traveled 34,000km during that 1.4 seconds. Yet, even if some 19 year old undergraduate did manage to hit a supposed "reflector", the return trip takes another 1.4 seconds, by which time the Earth has left the area altogether.
In other news, the GPS system confirms that the Earth is expanding at exactly the same rate as the Moon is receding.
Links available on request.
Yeah I'll take those links.
http://ray.tomes.biz/expand.html
http://www.youtube.com/watch?v=N7e39D-tVag
Using your argument, no one could shoot a duck in flight, yet it happens all the time. Check your premises.
Rabbit season!
A better analogy would be shooting at a duck in flight 10,000 miles away, with a 22 rifle, and if you did manage to to hit the moving target, (remember, you're moving also), the bullet would then have to bounce back and return to the barrel of your rifle, which by know has moved even further ... such is the nature of bouncing laser beams off of reflectors on the moon.
"such is the nature of bouncing laser beams off of reflectors on the moon."
They have been doing it for over 3 decades m-o-r-o-n...
yeah the moon is absolutely RIPPING across the sky when you look at it. Don't blink, you might miss it
- mean orbital velocity of Moon is 1.023 km/s.
- mean orbital velocity of Earth is about 29.783 km/s
- mean orbital velocity of Sun is about 250 km/s
"Jeesh, there are no reflectors on the moon, cause if there were, we couldn't hit them anyway ."
Wrong EInstein...
"The Laser Ranging Retroreflector experiment was deployed on Apollo 11, 14, and 15. It consists of a series of corner-cube reflectors, which are a special type of mirror with the property of always reflecting an incoming light beam back in the direction it came from. A similar device was also included on the Soviet Union's Lunakhod 2 spacecraft."
"These reflectors can be illuminated by laser beams aimed through large telescopes on Earth. The reflected laser beam is also observed with the telescope, providing a measurement of the round-trip distance between Earth and the Moon. This is the only Apollo experiment that is still returning data from the Moon."
"Since 1985, these observations have been made using a dedicated 30-inch telescope. Additional measurements have been made by observatories in Hawaii, California, France, Australia, and Germany."
You fuckers are ignorant...
The Moon travels 34,000km in 1.4 seconds? Relative to what Einstein?
andromeda
What if everyone is correct. What if the first few were faked then the last ones were real. You know "fake it till you make it".
Could be that the apollo program was shut down because it finally suceeded.
Hephasteus -“What if everyone is correct…”
You are right to a degree. Some of the Apollo footage and film the public was allowed to see were possibly done in studio, as well as at the world’s largest sound stage set up at Norton AFB outside of Los Angeles, and, therefore were hoaxed. All Apollo photographic data was subject to censorship through the airbrushing and doctoring the original prints of the film principally in Building 8 at the Johnson Space Center or by a substitution created staging the event as mentioned above. Because of the total News Black-Out and revolutionary nature of what really went on some people get sucked into the “Fake Apollo” scenario which is a secondary Psych-Op to keep people (at least the thinking ones) quarrelling with one another. We were lied to. The truth about the Moon is much different than what we have been told.
Hephasteus -Could be that the apollo program was shut down because it finally suceeded.
Beyond people’s wildest dreams.
I know Neil Armstrong.
What a shame these great explorers have to live out the rest of their lives essentially gagged from sharing with the rest of humanity the incredible discoveries that were made.
The rule (as I understand it) is that they are allowed to discuss what they really saw and experienced amongst themselves, and with other high level NASA people and scientists but are forbidden from making any public disclosure. The information they carry with them is mind blowing.
And, what IF your father faked his orgasm and YOU don't really exist? :>D
Isn't that what happened to Johnny Bravo?
Why is that a joke? I think it's plausible considering all the other lies the government has conjured up. Anything on the moon could have been placed there remotely. Including footprints...
So, you're just proposing that a moon-capable robot with foot-print impression treads just trundled about the surface, stopping only to erect a fake lunar lander and set up a laser reflector?
That's like a science fiction television series resorting to time-travel as a plot device when they've exhausted all other options.
"So, you're just proposing that a moon-capable robot with foot-print impression treads just trundled about the surface, stopping only to erect a fake lunar lander and set up a laser reflector?"
Yeah, pretty much. That is, if the footprints are even there (which we haven't established as proof). Setting up a laser reflector would be trivial for a robotic machine. Presenting it as definitive evidence leaves me to question your reasoning and/or gullibility.
Guess you'll just have to get up there and check for us! :>D BTW, who's gonna believe YOU, then?
Let's do the Time Plot again.
It's just a jump off your desk!
and a step to the reich
Wow,
You guys amaze me. You've stumbled on the next greatest conspiracy behind the silver suppression. OK, now let me make your head explode, they are connected! And many more with them. 1948 = key date.
Here's a few trails off the V intersection of that rabbit hole:
http://nasascam.bravehost.com/
http://www.youtube.com/watch?v=vMn2K-TDIL0
The silver (and gold) manipulation was never in question for those who have had eyes to see it. I find it sad so many intelligent people have felt the need to ridicule and deride those who knew this was happening all along. Ted Butler, GATA, Embry, and Turk, were there ten years ago. Lately we have Organ, Kieser and now ZH's own Turd Ferguson who also deserve credit in bringing this issue to light.
Exactly. I watched Gold Rush 21 a year and a half ago and it was quite evident what was going on. I knew the price was going up but then it became very evident that it was a no lose situation. Once I figured out that the Fed wasn't going to deflate the economy to put people out of business again then it was an easy call. I was following the gold/silver ratio three years ago and it was obvious to me that silver was going to have its day. Then the JP Morgan silver story broke and suddenly it all make sense. I bought a very long SLV option a year ago and I made 150% profit and I could have made much more if I would of had any understanding of the instrument that I was using. I understood the fundamentals but had no idea how to maximize profit. I feel like I'm standing under a waterfall with a small bucket trying to catch profits. Sure its super easy profit but I always feel like so much is slipping away from me. I really don't know that much but I've watched documentaries and read articles. I feel like making only 20% profit in a year right now is a joke. I think that informed people should be making at least 50% profit even with limited understanding of the actual financial instruments. Thats just my $0.02.
I second that. I'm a chump programmer with banking exp, but never got involved as it wasn't my bag.
Since Turd, I've been buying physical.
I'm grateful for the work he puts in to his posts!
http://www.youtube.com/watch?v=ZOo6aHSY8hU&NR=1
http://www.youtube.com/watch?v=0IhAFLmVT3w
Wow that is GREAT. I've never seen or heard about that. Thanks!
Why would any SANE person try and take on a former test pilot (even an older one)?
Anyone with an open mind can see that the moon landing is a hoax. If you care to you should watch these videos:
http://www.dailymotion.com/brotherjohnf
oh jfc, wtf is this site loaded with moonbats??
Seriously dude? The entire NASA / Military industrial complex has been implanted with secrecy chips, no one ever spills the beans. You may wish to get your chip checked, the stupid chip, the one the little green men implanted. This is nearly as stupid as the 911 crackpots..
Mankind went to the moon??? Nobody told me that!
What do you math whizzes think about how much they could have covered since the margin hike? Legit question, no baiting here.
Naw, no conspiracy here. They are just selling positions on behalf of clients, natch.
"Into the flood again" said Alice
"Say it ain't so" said Weezer
So, the fun is finally here... can we expect Silver to shoot to the moon.
We are winning... keep pledging at http://standfordelivery.com
Not necessarily. You need to read between the lines here. Plus another little report which was published over the weekend said that JPM was offloading their silver short positions to the next tier, HSBC and BofA, IIRC. And getting others more involved.
So I read this as a shell game. They're going to try and blow up all of the Banks, again.
I've forgotten where I read the report. Might've been on Harvey's blog, or Turds.
I'm waiting for Blythe Masters to weigh in....
PM Trinity going vert in Asia.
Blythe can retire now.
Did she drop some ashes on her shoulder, or is that just your run of the mill malignant melanoma?
is that just your run of the mill malignant melanoma?
Nope.
It has hairs coming out of it.
Don't tell me you blew up this picture so you could get a better look.
oh shit...you caught him (her?...even more yuk)........ don't tell anybody
Looks like a conspiracy theory magellon on him, to me.
So it's another head?! hehe
A virgin birth! The miracle of Christmas! Immaculate!
How else could she conceive?
Lil' Sis we call that.
It's NOT A TUMAH
Not exactly vertical - just back close to the intraday highs. Anyway, its generally better to see weakness in the overseas markets, thats usually when the NY traders will jack the price up first thing in the morning (North American morning). If Asia or London bids up the price, NY will usually sell it right back down.
Plat and gold were, and silver is being scalped on this news. Better run tell dat!
Aldous, what now? Gold breaking resistence! Silver wants more! Platinum going up!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Impressive move for sure, probably based on this news. Don't get me wrong, I'm bullish on PMs short, medium and long term. I just don't put a lot of stock in price moves that happen outside NY trading hours, because as far as I can tell they still set the price. If this holds and carries through into London and NY, then great, but its a pretty reliable pattern in PMs that if they gap up in the morning, they get sold down through the day.
Excuse this newbie. What is the symbol for Trinity? How can I find it? Do you have a link? Thanks in advance.
You don't seem to be such a newb... I am guessing LH was referring to gold, silver & platinum, not a specific security.
She's changed quite alot since I last saw a photo of her.
Butt ugly either way.
Double butt hefer ugly...
Engagement ring on right hand? Little turd on her shoulder and french nails. She voted for Barry, has a suitcase of sex toys and likes little winkys.
Robo stop... losing lunch...<earp>...
I have always found Blythe a sexy little thing , maybe its just me although looking at Robotraders image of her visage - maybe she has left herself go.
When the men here have knocked her appearance, I have been surprised. She is an attractive woman. And an evil witch, deriving an evil brew in dark pools.
Blythe you sexy thing you.
Hey, you're making fun of my girl! Yes, I'm going to be the first here to lead a rousing cheer of:
Go, Blythe! Go, Blythe! Go, Blythe!
I love that babe. Every time silver starts going up, she pounds it down again so that I can buy more, cheaply. This is the closest to a bankers' bailout that John Q. Public can get.
So hit it down, again, babe. I want to get some more!
On a serious note, it somehow has never occurred to these rocket scientists that they are managing to transfer tons of silver to China at firesale prices. And let the Chinese trade in their T-Bill I.O.U.'s for PM. And allow the Chinese the cheapest, and most cost effective way to blow up the U.S. if they manage to blow up the shorts. All of which is to China's serious advantage.
How much of a bonus is Blythe getting this year for doing this?
Oh, there are plenty more layers here to speculate on...
Assuming JPM=.gov what if the admin/Fed is ALLOWING the Chinese to quietly swap out of USD/IOU to whatever extent is possible, in return for some consideration.
OR
JPM is picking up extra commish/vig from the buyers of size in exchange for an 'orderly retreat', allowing the buyers to maximize physical accumulation at lower prices.
But even if neither, I would dare venture that the FT piece is a (small) piece of telegraphing that TPTB have decided the USD has come to the end of its long and fruitful career, and thus is planning to retire to spend more time with family.
Good points. JPM giving Chinal lots of rope to hang JPM somewhere down the road at a time of China's choosing.
Now, get this. King World News reported on this very same thing (albeit as a rumor) the very next day!
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/12/14_K...
Either I'm good, and this is happening; or KWN just ripped my conjecture off and published it. I give it 50/50, either way.
The FIAT shellgame is over, folks.
Buy silver.
I know some people get it, but I am surprised at the amount that do not. The silver shorts are the only thing...THE ONLY FUCKING THING....that are supporting the dollar. The dollar is supported by nothing else other than the shorted PM, because it is PM that is in direct compittition with FIAT. If you ask me, it is not much of a matchup, but who am I to say?
Often agree with you LH but real estate, or more specifically inflated RE prices and the maintenance of such, are also keeping the dollar alive. If the losses were taken and marked to market RE would be in a freefall instead of a slow roll downhill. Trillions in RE compared to billions in PMs.
Real Estate is dead in the water. This will be the worst winter ever for real estate. All equity will be lost in a matter of months. ALL EQUITY.........
Just because people like Beyonce doesn't mean she can sing. For real, girl can only hit one octive. Same as the FIAT system. Housing is being supported on hoodwinked grammys and tungsten oscars. Game Over.
Couldn't care less though... she is tooooo hot! Outstanding silver call MLH... congrats!
Did you know...
The price of 1oz of silver in 1790 was $1.29... 1966: $1.29
Based on average hourly labour rates, 1 USD would be worth $1090 today
Conclusion... we have a long way to go... buy silver... crush the bankers!
I smell blood. JPM you're gonna need a bigger boat.
http://www.youtube.com/watch?v=8gciFoEbOA8
The only way this happens is that the TPTB pull the pin on the dollar. I do believe that when the dollar hits the can-it is going to be very quick, with spontaneously increasing momentum. It may have been a slo-mo wreck thus far--but when the dollar goes, it will go quick IMO.
No!
The pin has been pulled. Shorting silver was the ONLY THING SUPPOTING THE DOLLAR.
So are you saying that the contrarian move right now it to put on new silver paper shorts for big gains with little pains?
I don't get it and would appreciate an expansion of your statement. I've read that there are lots of things supporting the dollar; oil trade in USD, military, suppressed PMs, etc..
I fail to see how $100.00 silver would kill the dollar. Especially when the masses could give a shit less about the price of PMs. Are you implying that skyrocketing PM prices would cause a loss of faith in USDs, thus resulting in a panic/crash?
Oil trades for dollars. Military depens on dollars. The dollar is the weakness of the system. If people understood that they would get out of dollars. What will you hold as currencie other than dollars? No FIAT is a choice, it is all decrepid. You will hold real monie, you will hold silver/gold.
The suppression of silver hid the fact that it is functioning monie. The dollar trades VS. silver. The dollar trades VS. gold. Silver price up, dollar down. Dollar down, oil up. Then the storm really starts.
People haven't ever watched water go down a toilet before?
Nope - they control by law (by force) what is money. Sorry. Silver in payment is barter and it will have the bookkeeping done in dollars, by law.
(My first post on ZH, been addicted to the site for weeks now!)
I agree LH but the crazy thing is, even recently the dollar would gain and gold and silver gained along with it, usually silver in the lead % wise.
Typically the charts are directly inverse, but this time the fiat currency crises is global with the US being the reserve. Chinese citizens can buy gold now. It doesn't matter if the US is having a "good week" or Europe's debt is "not so bad" or China doesn't have "stagflation" or any of that falderall.
Investors around the globe are realizing the coming crises in its entirety and putting their purchasing power where they know it will remain -- and in fact (most likely) be greatly increased at the same time.
This is a smart move I think. I don't think the manipulation is over just yet by any means, but yesteray this was all bullshit on the contrarian.
I can't wait for intraday tomorrow.
</opinion>
Welcome!
hey LH, are you a Bill Catton Jr fan?
I read Overshoot a while back, shitstorm definitely on the way.
3 junks?
You haven't a clue where you are!!!!!!!!!!!!!
Fuck I got a blog now, check it out, it will make you "monie" or silver, whatever you desire....it will give you insight in the least. Life is your choice, get some.
Latyrx - Storm Warning - Quannum Spectrum:http://www.youtube.com/watch?v=gkJNKFAG3kI
My little pony, rainbows and latyrx? It's too much jimiJon. Unjunk for you.
Who the heck junked you? You are a frickin' genius!
Blythe?
Robo?
The Bernank?
Beuller?
http://www.youtube.com/watch?v=f4zyjLyBp64
Position limits will solve most of the mystery. True transparency will resolve the problem. Until then, I will trust JPM to be JPM- criminals.
Yuck yuck yuck.
The CFTC has had 35+ years to put position limits on Gold and Silver. They haven't done it, and probably will conjure some excuse as to why it can't happen now. If it does happen, you can bet that JP Morgan, among others, will have an exception so they can ignore limits. The CFTC is OWNED BY THE BANKS. OWNED.
Yep.
Ok I'm going to do my part. I can't afford a comex contract but I can buy into slv or another fund. Give me an opinion and explain why.
A Big ole Dick like you should know, physical or nothing. It is the physical squeeze you want.
Right you are. Can't get over these ms or us operators who want in and out at much better than rabbit frequency. The physical squeeze.
I guess they don't quite know the lay of the land.
I trade like a rabbit and fuck like one too. That's why they call me Junior.
With or without pelt. Snares sure are ancient.
Is this a conversation about Assange now?
I don't think so. The Assange will happen upon us.
Pelt = condom
Snare = trap
I was punning. Apologies.
hey BigDick! (I'm gonna hate myself for this)....just buy AGQ = 2x rate of change in price..... let us know how it turns out-see what kinda trader you really are....panic sell on the drop? buy the dips? or what?
Dick-less, The AGQ is for real men. The SLV is for weinies. Real men charge ahead even if they are scared s..tless. I'm up over 120% on the AGQ this year. I've made enough to put on that addition I've been dreaming about for years. Am I scared? Ya, you betcha! But the safest thing is having control over the metal itself and not relying on the "financial system" monkey buisness boys to keep their word. Maybe I should take a little profit to use for the plans and let the rest ride?
my name is junior