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Is JP Morgan Shifting Its Silver And Gold Shorts To Non-US Domiciled, And Thus Unregulatable, Banks?
Going through recent bullion bank shorting information, Adrian Douglas has stumbled across a nugget that may explain the sudden willingness of JPM to admit to the FT, via proxies as obviously the bank would never expose itself to even remote market manipulation claims, that it has collapsed its silver short. The reason: even as US bank silver (and gold) shorts by US banks have been gradually declining, those positions established by non-US bank, and thus entities not under the CFTC's control, have seen their silver shorts surge, increasing by orders of magnitude over the past several months. Is there a stealthy transfer of precious metals market manipulation taking place, one that exonerates the domestic, and therefore regulatable, suspects, while making foreign banks carry the burden of suppressing silver and gold prices? The reason: hand over the silver shorts to entities that would not be subject to the CFTC's upcoming size limit rules. Per Douglas: "The sudden and massive increase in their short positions in both
metals is conspicuous when compared with historical trading patterns.
The fact that it occurs at a time when the US banks that are mega-short
appear to be covering makes it doubly intriguing. It looks like a
strategy to shift suppression and manipulation of the market to banks
that are not under the direct supervision of the CFTC. Will these non-US
banks be expecting to receive an exemption to position limits where US
banks might not be successful?" We hope to get an answer to all these questions soon - Douglas has sent out the following letter to the only honest man at the CFTC, Bart Chilton, which explains Douglas' findings, and demands an inquiry into just who these foreign banks are that are suddenly shorting silver and gold on the margin at alarming rates.
Letter To CFTC Commissioner Chilton On Trends In Bullion Bank Gold and Silver Short Positions
TO: Bart Chilton, Commissioner of the CFTC
From: Adrian Douglas, Director of GATA
Date: Dec 13, 2010
I would like to bring to your attention some very disturbing trends in the BPR before your meeting on December 16th regarding position limits.
In figure 1 below I have charted the silver short position of the US banks (blue line) and the non-US banks (green line and right hand scale) and all reporting banks, US + Non US (red line)
Figure 1
Looking at the trend of the US Bank silver short position it shows that it peaked at the end of 2009 and has been on a declining trend as shown by the blue arrow. At the same time the short position of non-US banks has been declining as shown by the dashed green arrow. But look what has happened since July 2010. There has been a massive increase in the short position of non-US banks. It has increased almost 1000% from 614 contracts in July to 6,329 contracts in December (delta + 5,715). This increase is so large it has more than offset the decline in the short position of the US banks over the same period which has reduced from 31,803 contracts to 26,332 contracts (delta -5,471 contracts). The combined US and Non-US bank short position is shown by the red line and this is now on an increasing trend as shown by the red arrow.
Which non-US bank(s) has increased its short position in silver so massively? What is that entity’s relationship to the US Bank mega-shorts, JPMorgan and HSBC? I know you can’t answer those questions publicly but these are questions the CFTC should be looking into. It looks suspiciously like the US Bank silver short position is being shifted to a bank or banks that are out of the jurisdiction of the CFTC. To further add to my suspicions the Financial Times has out-of-the-blue published an article that declares that JPMorgan is reducing its silver short position on the Comex.
http://www.ft.com/cms/s/0/7d699ca4-06ea-11e0-8c29-00144feabdc0.html#axzz1834JpsKS
That is impeccable timing don’t you think? And this newspaper has never once mentioned that JPMorgan Chase even holds a massive short position in silver but now confidently declares it is reducing it!
But the irrational exuberance of non-US Banks to suddenly massively short precious metals is not limited to the silver market. They have felt a similar compunction with respect to gold also.
Figure 2
Figure 2 shows the gold short position of the US banks (blue line) and the non-US banks (green line and right hand scale) and all reporting banks, US + Non US (red line). The blue arrow indicates that the US bank gold short position appears to have peaked in July 2010 and has declined from 161,378 contracts to 135,602 contracts (delta -25,776 contracts). However, we see that non-US banks after having been gradually reducing their short position from March 2009 suddenly in July 2010 aggressively increased their short position by more than 200% from 16,798 contracts to 53,120 contracts (delta +36,322). This more than offset by 40% the reduction in the short position of the US banks. As a consequence the short position of all reporting banks (US and Non-US) is now on an increasing trend as indicated by the red arrow.
Again I urge the CFTC to investigate which non-US bank(s) has increased its short position in gold so massively? What is that entity’s relationship to the US Bank mega-shorts, JPMorgan and HSBC?
A review of historical data indicates that non-US banks have not been major participants in the precious metals markets and have generally held fairly balanced positions between short and long holdings. The sudden and massive increase in their short positions in both metals is conspicuous when compared with historical trading patterns. The fact that it occurs at a time when the US banks that are mega-short appear to be covering makes it doubly intriguing. It looks like a strategy to shift suppression and manipulation of the market to banks that are not under the direct supervision of the CFTC. Will these non-US banks be expecting to receive an exemption to position limits where US banks might not be successful?
I consider that these trading patterns warrant investigation by the CFTC.
Best regards,
Adrian Douglas
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Seems to work well for the chosen variety.....
!! thanks for saying that !! .......... that's what makes my blood boil. personally, i will gladly suffer or do without, but, I'M FIGHTING FOR THE INNOCENTS ! Our elderly, our children & grandchildren .......... if we do not go into revolution it's all over for ALL of US !! ....
The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. Thomas Jefferson
Our Country was build on its constitution and last time I checked this guy's signature was on it.. Now we pass bills to bypass the senate, create Czars that bybass the Congress and re-write the Constitution in any way that fits our Corporate interests. We have been HYJACKED...So either listen to your founding father or what Bloomberg has to say. RIP Thomas Jefferson, how you knew it would end this way was truely innovative thinking for the time.
Did you read about Cheney getting off the hook in Nigeria for $250m?
It's funny now....but I've been asking myself the question, how can real change for the better be enacted (or at least a much better chance at it than what's going on currently) and the answer is owning physical PMs.
Simple.
It's TPTB's, Courtney Cox to Kurt Cobain - they've loved PMs for millenia but the debt herion addiction and Courtney are slowly drawing the shotgun under their chin.
We're living through future stories we tell to the grand kids.
Courtney Love :)
Courtney Cox would definitely make me self-inflict a GSW.
great research and conclusion, a very interesting question to ask.
Tell a big enough lie, often enough and it becomes true.
Goebbels School of Information Management 101.
Sorry, but the Emperor's hairy, pimply @ss is showing!
It is becoming more and more clear that BANKS ARE THE ENEMY! Period. These freaks and azzholes will mortgage their future and their grandmothers for a freaking dime, and then whine about "losing it all" on their own stupid fucking risk.
The Banks need to be bombed. Simple as that. Take them out. Just the BIg Five and throw in AIG and GS.
That is the main problem of our Country. The Banks expect a bailout at the expense of the next generation and a half. FOR ANYONE to think that is OK, is moronic. FOr anyone to stand by and allow is just chicken shit. To think that my post is "violent and mentally unbalanced, just think of the world being allowed to grow under this corrupt financial cabal.
The banks and financial "insitiutions" as they are now, have to go. They need to be torn down and redone.
Otherwise, let JPM, CITI, GS, and AIG fend for themselves and live at the mercy of whatever dictator that allows their presence in their country. Bet the dictator would chop off their stupid heads for another $200 million bonus. I just bet the dictator would allow that to happen! No more of our soldiers to "protect" these interests, as they are not in alignment with the "Government" which is "WE THE PEOPLE".
JPM wants to go to a different country so be it, but they no longer need our p[rotection them. If they get it by corrupt politicians, blow up the JPM banks.
Sooner or later you idiots need to get this in your heads:
IT IS EITHER THEM OR US!!!
""The issue which has swept down the centuries
and which will have to be fought sooner or later
is the people versus the banks."
Lord Acton... 1834 - 1902
Keeping them alive is at the core of what is stunting the growth of the economy. (I would add BAC/Merrill Lynch). We gotta keep stuffing them with cheap money and keeping rates low and money loose is feeding global inflation. Meanwhile, the US domestic economy outside the banks is deflating.
+10
In the last six months 6 chase banks have surfaced in my town. They even took over the local burger joint that use to be the local teen hang out.. Now it is a bank>>>Fuck you JPM, it will only last as long as the free money from Ben rolls in. It wont be long until I see people lined up protesting in front of your new piece of shit branch!
i got it a long time ago...
"now what u wanna do
i got mine 9, the Uzi and my mother fuckin' 22"...
been telling ya'll they only understand that which they inflict on the masses...violence....
GIN & JUICE .... biatch!
+10
No... they will mortgage YOUR grandmother's future for a dime.
Also, you call for war... lead on. Start poppin some of these guys, i'd bet others will follow. There is a whole lot of the "somebody should do something about this" attitude around here.
As much as I love this site, it is NOT "fight club", but rather "bitch club." The government doesn't care about this site because we don't DO anything, we just vent our anger here. You can bet if there was any development of organized violence against the state on this site we'd all get shut down and "investigated" (in Guantanamo) really quickly.
You may be right that we need to use violence to change the system (in fact I think that you are), but that violence would need to be organized, determined and relentless in the face of devestating losses. No one here is prepared to accept the losses that would be accrued through armed rebellion, yet. The state is a devastatingly powerful death making machine, I don't think that North American society would accept the kind of losses the Soviet army absorbed in the war with the Nazis. This is what we would face. Are you prepared to give up everything you hold dear for a "cause"? TPTB are betting you are not...
You words are strong, how strong is your gut?
Addendum, I do not claim to be the person that will sacrifice everything to change society (for I know that my sacrifice will change little atm), but I also do not call on others to do that which I would not for that is the ultimate cowardice. I do not rule out that I would join the fight but atm I do not have the resources, organized following or capability to "start the fight". So I wait.
What, you can't print out a few stickers and put them up in your travels? Graffitti a bathroom? Smear a few banker's door handles with dogshit?
You fuckin' Pussy.
You are calling me a pussy? Why don't you share what you have "done"?
Everyman was calling for war, incase you missed his point. But he was calling out all of us to do something, without doing anything himself.
Again, you should reread my post, particularly the last paragraph.
To "Terminus C"
I was not "Calling for war" you asshole, so stop redefining what I posted, it is pretty clear except for idiots like you. Are you a banker, work for Rep. Weiner's office? I was also not "calling on you" to do the dirty work". You miss the fucking point you mental midget.
You have to "start thinking" differently. That is what my posts are about. Sorry to think a little far above your level, maybe you should go back to the short bus and put on your helmet. It alarmed me when I had the "awakening" in all this financial shit. To see this market reduced to a manipulated casino and the "free market" closed to the American Investor. People need to think differently and defend themselves and their way of life. If YOU were an animal and a wolf came, you would end up as fecal matter. I chose not to amount to shit, that is not my goal, to be consumed and digested. Americ needs to learn to stand up again, and idiots like you scream "for God's sake sit back cown and shut up> Go fuck yourslef you mewling little puss.
If anybody needs to re-read anything it is YOU , butthead.
PEOPLE START THINKING AND DEFEND YOURSELVES!!!!
ad hominem much?
Hmmm, pardon me for thinking that "the banks need to be bombed" isn't a call for war... Apparently I "can't read."
I understood his post. Stop making trouble.
How am I making trouble?
Go do something then, lets see it on the headlines tomorrow big guy.
Perhaps you should read my post again, particularly the last paragraph.
Addendum to the post and to the responses so far.
I find it amusing that people have a hard time facing the hard truth about themselves. This site is about seeking the truth, yet juvenile group think pervades many of the posters here.
Everyman calls us idiots and cowards for not "getting it through our heads" that bankers are fucking us over and sputters some lame ass "it's us or them" cliche without any real logical proposal for action. He gets all sorts of support for his emotional and frustrated outburst.
I point out some logical issues surrounding his "call for battle" and I get called a pussy and get junked. The amusing part is you call me a pussy for not doing anything, which I quite clearly address in my post AND you, who call me a pussy, also do not DO anything... but somehow you are not the "pussy".
There are "320,000,000 of my fellow countrymen", and there are only 10,000,000 of them at best. The math is on our side, and the time for revolution is in about 6-12 months.
Yachts are a pretty big target. I bet one could hit that pretty easy.
You miss the point, oh arrogant pontificating one. The idea is to start the thought, let it marinade, let it ferment and foment. The "movement" will find itself, and a leader will emerge,hopefully not the "strong man" of a Hitler, but a real leader with America in his heart. The feral criminals in the hallowed halls of congress and Wall and Broad will pay a horrible price. Their time is limited.
Would this be "insurrection"? Not by any measure. "We the People" have been ignored b congress in favor of Wall Street.
Violence IS the last resort, but make it known it is an option, and not a desirable one at that. VOTING obviously does not work anymore. Letting these assholes have it in a Town Hall does not do it either. What the hell does it take for these assholes to "GET IT"????
Stand up in your town hall meeting with YOUR elected representative, and let them know exactly where you are and where you expect them to be. They need to know, and they need to start making the right choices, or they need to get out of office voluntarily, and if not, by force. Our country simply cannot afford these assholes in charge in congress or Wall Street.
Nobody will be suprised to wake up and find out that GS, or BAC or WFC, or CITI has been bombed, NOBODY WILL BE SUPRISED!!! What is surprising with the foreclosure/bailout/MBS crap that somebody on Wall and Broad has not been killed or bombed yet. THAT is the "suprise". Why would anyone think that the behavior of bankers/financials/securities/FEDRES is acceptable????? Why would anyone NOT be incensed about these crooked and corrupt activities that go unpunished????
And you post your tripe?
It just takes an idea, and that idea needs to grow. We will take America back.
I don't think you read my response properly. It was not made in arrogance, as I quite clearly claimed that I was not going to go and "pop" a banker. You cannot honestly look at your post and tell me with a straight face that you are not calling on others to do what you will not.
I also do what you are doing and spread the message of the problem, however, I do not tell others that they are cowards and idiots if they do not go and commit violence on said bankers as you have done in this anonymous space.
There may be a time when violence is what is needed, again, my post quite clearly agreed with you here, but you essentially asked others to start this shit when you clearly had no intention of doing it yourself.
My "tripe" was merely a logical analysis of your post. If it struck a nerve then perhaps it hit close to home.
LOGICAL??? I don't think so. Agenda driven? Clearly, and stupid as well. Simpleton comes to mind. Troll is what your post scream. Apparently MY post struck YOUR nerve and you can't handle the truth.
I did no such think asking "other to do" the violence, and you are an asshole for stating that. Go fuck yourself.
So what you are saying is...
You should just keep calling me names rather than actually arguing my points?
Here's an idea for action, non violent, easy done, sure to throw a spanner in the works!
While I openly laughed at the naive calls for a 'bank run' on Dec 7, the idea is solid, it just had the wrong target.
Arrange some thousands of people to demand redemption at the most nefarious bank of all, that 'paper mill' on the Potomac, the Federal Reserve. The US dollar is the obligation of the Federal Reserve Bank.
Make it meet its obligation.
Mass non violent resistance utilizing social networks is my hope.
That is my hope as well. IT takes the idea though that TPTB are wrong and it needs to be fixed and I am going to help anyway I can.
Thus "The Resistance" is born.
This is a good idea. I am already in the process of taking my assets "out of the system". Savings in PM's and other "useful" commodities. Minimal usage of banking and spreading the word.
As I said before, I am all for sticking it to the system..
Look for some power hungry politician to try to position him/herself in front of any movement. Look at the Tea Party outcome. Politicians tried to jump in front of the angst and the turmoil but didn't want to really get their hands dirty. The final result will be a group of folks without power (they won't be appointed to any good positions) and no means to effect changes. We can be pretty sure that the root of the new power will not be found in front of a microphone on the Washington Mall.
As much as I love this site, it is NOT "fight club", but rather "bitch club." The government doesn't care about this site because we don't DO anything, we just vent our anger here.
If it wasn't for people like us then where would anybody go to find the truth?
I hear you Terminus I don't know who flipped the instant douchebaggery switch. Even when you are on the same side some people get over emotional and swing at anything that moves.
What I have been thinking. +1
Violence is just plain stupid and it's what they want. Don't give it to them. Silver is the arrow that slays the dragon, the bullet that kills the werewolf, the stake in the heart of the vampire. Stop talking all this rubbish about violence and give a few kids a silver coin this year. Then tell them they can't sell it until it's worth a bicycle. Don't be a moron, we've almost won.
I think many of us are getting older. We don't have much "Fight Club" left in us. I myself am looking at retiring soon, and I hope I have SS to add to my PM's to survive in peace till my time comes. I think "Fear of Jail" is strong too.
SO what are you going to do about it?
Can not buy silver. All sold out. If they say not sold out they are lying. Have been waiting for 1 oz for a few weeks. Do not buy from APMEX = liars cunts.
I never had any problems. Did you pay by personal check? If so, they hold that for a couple of weeks to limit exposure to fraud (like check kiting).
Otherwise, did you order something they had in stock, or something that wouldn't arrive until later? You should never do the latter, as you take on more risk that way, as APMEX's suppliers might default.
"1 oz Silver .999 Round minted by the Sunshine Mint. please allow 5 business days prior to shipment
Bank Wire Price:$30.51" Try Gainsville Coin....the above quote is from them. http://www.gainesvillecoins.com/ I have no connection with Gainsville Coin other than being a customer.
I just received some from them today. Took two weeks. Gainesville coins is much faster. I probably won't buy from apmex again.
http://www.nwtmint.com/
They sell small enough for the little guy...one or two ounces if you want, or in the bigger lots. It seems the majority of sellers have a backlog at the moment (thank the Gaga crowd as they work over JPM), but I've had great satisfaction from NWT in the past and they ship pretty reasonable.
Placed an order for 100oz NWT bar in early October. Just got it yesterday. 2 1/2 months.
I like NWT Mint. But I always visit in person. They have silver and gold in stock at their showroom. Lay down cash and walk out with metal.
Postal delivery takes a lot longer, though you do get to choose the exact PM product you want, which you can't always do at the showroom.
If you're buying 1 oz., go to your local coin shop.
If you can afford the 10 oz. minimum, buy direct from a mine: http://www.store.firstmajestic.com/products.aspx?cat=4 Markups/Premiums are lower than APMEX.
I received delivery in 5 days.
The minimum for bullion rounds is a full roll (20 oz), although you can order single 10 oz bars. However, shipping is delayed by 3 weeks due to high demand. You'll be lucky to get any product before a month. I had this problem when placing an order with the NWT (who also mints FM's products, by the way)....back in 2007. Even using a bank wire payment resulted in 43 days before I received my order. This happened while NWT claimed one week delivery through bank wire purchase.
Read the fine print disclaimers at these sites folks. Not saying they aren't good organizations, just exercise due diligence.
Duplicate post resulting from a transmogrificational singularity event in the time-space continuum. Apparently the Ilodium D-36 Space Modulator experienced a bit of hyperelastic resonance within the plasmaton transfer conduits.
You ain't trying hard enough. There are dozens of sources you should be buying from so that the flow is continuous even if sporadic from a given source.
The mandate of the FED is to offshore all of our wealth and destroy the middle class so that certain members of the cartel can come in later and scoop up all the goodies for pennies on the dollar. The first step was removeing trillions in home equity. Ever stop and think why MERS was founded in 1998 long before sub prime became the flavor of the month? It was all planned. The next step is the implosion of the markets. That's coming. Before 2012. They suppress the PMs until then so that King Dollar looks to be the safest and the MSM spews the party line. When the market tanks, only the cartel will have the money to buy PMs, everyone esle wil be scrambling for bread and ammo. Brilliant.
Likely to coincide with food and energy shortages.
Food is power, just ask Monsanto.
Ive already got lots of food and ammo so guess I can spend my time poppin bankster elites in the dome, takin their silver and gold.
Well, now I am short food and water purification devices.
But I DO have PMs and guns & ammo! Will I be the first martyr? I hope my daughter does not receive that news...
Or maybe fcuk it, just go to Peru as merehuman tells me.
We each have differing sitiuations. i will remain in the USA even tho as a german i have a great out. But i promised to stay with a friend till she died and will do so. Am 60 now so there is no future in it to be running. But if i had family as Rolling Bearing does i would surely leave a place of discord and danger.
Protection of self and family is the first requirement of any sane individual.
If you must have an attachment, let it be family, love and truth.
Rolling Bearing i wish you godspeed and would say to any of you, no matter how patriotic you may have felt, serious life decisions must be based on intelligence rather than emotion. lets pick a fight we can win.
"When the market tanks, only the cartel will have the money to buy PMs, everyone esle wil be scrambling for bread and ammo."
By 2012 the cartel 'money' will be useless for purchase of PMs.
They might have purchased at ~ $250 and then set up the rest of your scenario, which is certainly not beyond them.
APMEX owes me a 1oz gold bar... They told me it would take a week, its been two weeks.
Did ya "pay" with a personal check? Then wait your turn!
Wouldn't that be the grand check mate - offloading the short position back on the very folks who are buying the silver physical.
A bunch of this POMO is being deployed to short metals. if they cant keep PM's down its over for a bunch of banks, full desperation mode.
Theyre even deploying the media in this 'Phhhfmphhhh gold and silver sucks you should sell it unless youre a dork' campaign, its disgusting.
Well thanks Blythe, keep it down so I can funnel more of these blown-out FRN's for silver and gold, thanks.
Well, we all know what to do now, right?!. . .
Buy more mothafukkin' silver!!!
The premise is a bit off here. I can assure you the CFTC is unlikely to grant hedge status i.e not subject to spec position limits, to a foreign bank over a US bank. If those charts are of CComex positions, all it means is that the overall short has increased but the make up of the short is changing.
Wouldn't it be great if when you when you clicked on the donate button at the top of this page, one option would be: SKU: ZHSILVER -no. of ounces______ add to cart?
Any possibility that the non-US Banks are just being reassigned the short positions that JPM acted as their agent in securing the original short?
yes but a pretty expensive proposition to stick an intermediary into not only existed "shifted" positions but also in increase in size. I have never seen a manipulation of any size be pulled off. If it were to be attempted you would not add more players to the scheme.
.
To be honest, I benefit from JPM's silver manipulation. I am young and have very little savings. I am buying silver every month. The fact that silver is artificially low right now is a good thing for me, personally. The market is more powerful than any manipulator and will eventually move closer to its true value.
Heeeyyyyyooooo.....first post @ Zerohedge. The other day when FOFOA pasted his slam on silver it made me think WTF. His theory was that silver was not money. And, that only gold could preserve multi-generational wealth. I have been thinking about it quite a bit since then.
Gold was a gift of one of the three Magi. But, Thirty pieces of silver was the price for which Judas Iscariot betrayed Jesus.
Now, with so many uses from Marshall amplifiers to burn cream the above ground supply has been depleted . It seems that above ground silver is rarer than above ground gold.
People will say "The historic ratio is like sixteen ounces of silver to one ounce of gold." Would that ratio depend on the amount of precious metals in the ground?
Silver and gold in bullion form are not in the ground. You can own it and keep it out of the tax me to death system. Try that with anything else. How about your real estate? Nope, they can take that from you if you do not pay your taxes.
What if you file a bankruptcy? Will TPTB know if you own silver? Not if you are smart about it.
Tyranny is the most profitable business in the world. Silver is the bullet that kills it.
JPM can manipulate the markets all they want. They can sell their crap to their LLC owned by their S-Corp owned by their LP. But, in the end they are still trying to control the market. Because if they can't...........It will take more than 30 pieces of silver to fix the problem.
IMHO that historical ratio is just that . No reason why it should hold now or in the future , price manipulation or not . It's not a law of physics . Unmanipulated price should be a result of supply and demand , whatever that now is for silver and gold .
RBS Sempra
India's Toilet Shortage
http://www.bloomberg.com/news/2010-12-21/india-s-toilet-shortage-costs-more-than-50-billion-world-bank-study-says.html
Tyler, could you please issue a postion statement on owning SLV instead of physical silver. Some people can do both, and some people can only buy SLV for several reasons (e.g. their local shops are out of silver, or they have their investment money tied in an IRA). So, if a person can not buy physical, can they still make an impact by buying SLV? Some posting here and/or elsewhere argue that SLV doesn't really hold physical 1 for 1. Some argue SLV can theoretically issue millions of new shares and put off taking delivery indefinitely, taking advantage of dips. Others say SLV may also be shorting to manipulate the stock price. Others claim there is actually a glut of silver in the refineries. I think I have heard it all, and the shorts have definitely pulled out the big guns in the MSM, causing longs to pull out their guns too. So, I don't actually know what is the truth about buying SLV. Could you please have somebody do a piece on it? Theoretically, those who have IRA's could go 100% into SLV on any given day or span of days....like 12/29 for example....and I'm sure many ZH readers would like to know if that would have a contributing, counterproductive, or no effect on Max Keiser's campaign to buy physical silver.
Stay away from SLV . JP Morgue is the custodian of SLV for starters . There are also serious questions about the physical behind SLV :
http://seekingalpha.com/article/236304-grave-warnings-to-precious-metal-investors?source=hp_mostpopular
A trustworthy alternative is Eric Sprott's PSLV
Thank you Gigliola Cinquetti. This is another good link and represents exactly what I am talking about. Again, Tyler, could you please have somebody write up a position statement. Hey, what if a) selling SLV positions or b) shorting SLV, was helpful to Max Keiser's campaign? I simply do not know if playing SLV can help, hurt or have no effect....and if it can have an effect, then how should it be played? Thanks.
I would not presume to speak for the Tylers, but it's not likely you'll get a "position" piece at Zero Hedge. Your situation is unlike anyone else's so the moves you make must be unique. A "position" would indicate a one-size-fits-all and invite invective on a mass scale. Don't waste your precious time waiting for someone to guide you -- study and reflect on your needs.
THE POLICE STATE
Govt 'creating vast domestic snooping machine'
http://www.breitbart.com/article.php?id=CNG.35fe9afbf5c0253f885080ba82e9784c.781&show_article=1
Monitoring America
http://projects.washingtonpost.com/top-secret-america/articles/monitoring-america/?hpid=topnews
Trash collectors to serve as eyes and ears in the street for police
http://www.msnbc.msn.com/id/40707906
"environmental justice"
Napolitano Says DHS to Begin Battling Climate Change as Homeland Security Issue
http://cnsnews.com/news/article/napolitano-says-dhs-begin-battling-clima
The problem with the vast snooping machine. Is that it uses such fine products as Microsoft Windows and Oracle Database. LOL
They aren't fucked. They are Amazon fucked.
Off topic?
I note this is the first time in the past couple of years that both Tulving and AMPEX have SOLD OUT of silver 1,000 ounce COMEX delivery bars.
Nice timing, they just had a 6.3 mag EQ in Kerman Province, Iran.
The World's 2nd Largest Copper Mine at Sarchashmeh is located here...
you all know that if Ben was here you would all line up and kiss him on the lips for saving the Republic!
"...if you can keep it..." We are keeping it!
Obama is now channeling... Reagan??? Unreal!
2011 is going to be great! Bi-partisanship for the... better! I think so :)
The era of Bush and Neo-Conservatism is behind us! Peace, Prosperity and Transparency. No more endless war and wealth stripping!
Help me ___ Obi-Wan (Ben), your our only hope. He delivered. Ben is the savior!
http://bit.ly/gAMRFm
Gentlemen, my models are showing that we are nearing a 12 sigma event, earthquake like. I don´t make these calls often. Maybe once every -8-9 years. I am amazed by the stupidity and ignorance of stock mutual fund managers in the US. Pushing stock prices higher is at this point harakiri.
Ok, Ok, Ok, must my hole in the garden point to the East?
Thanks for your insight. Timing?
Anybody have an educated opinion on the SIVR ETF ? It's supposed to track the silver price closely (seems to do that ) . And they claim it's physical . You can buy options on it (not possible for PSLV ) . "Minor" detail : custodian is HSBC.
Mining stocks anybody ? Silver Wheaton (SLW) ? Silvercorp Metals ?
silver is poised for its biggest PLUNGE in history!
The only plunge happening is the average IQ here when you log in
After the longest rise in history I'd say your call is a no-brainer. But maybe not!
So you're saying 5 lbs of coffee is going back to 5 lbs instead of 2 1/2 lbs?
Interesting that so many people say their local shops and even some large dealers are sold out. The mint that I purchase silver from has plenty and at great prices. I can get 100oz. JM bars for just $0.90 above spot. If you buy 500oz. or more it's drops to just $0.75 above spot. Silver rounds are $1-$1.30 above spot. The website says allow 6-8 weeks for delivery but I can walk into their store and get it anytime.
it's "interesting" that you do not mention your "mint" by name. hording?
Actually, I am a little worried about mentioning it for fear it could cause shortages thus making it difficult for me to get it easily.
I think a Bloomberg reporter said it best, back in 2008.
“There are no more markets, just manipulations”.
Best quote of the decade. Unfortunately, it gets more true every day.
Could someone remind me what JPs get out of suppressing Silver?
Silver is the detonation charge for gold really revaluing the world's currencies and debt. If silver truly went to its free market price, then gold would follow it to maintain its relative price relationship. And that would ignite a conflagration in world bond interest rates...instant emolation of the banking system.
Does that mean that all the bankers are suddenly going to become Emos?
That would be cool --- and somehow, oddly appropriate.
Does that mean that all the bankers are suddenly going to become Emos?
That would be cool --- and somehow, oddly appropriate.
Could these be shell accounts or shell companies that are designed to fail and default after JPM gets clear? Maybe they were only created by JPM as an exit plan to offload losing shorts they could not cover any other way in a foreign country?
bad banks for their shorts? Maybe
How long can JPM depress the silver price? As a long-time PM investor, in one sense I hope for continued price manipulation so that my positions can be enhanced. On the other hand, it would be satisfying to see a few of responsible parties hung by their thumbs.
It really is about the financial tier believing that they own the world. The 'god', Mammon, accepting the Satanic invitation that Christ refused: all of the world and its kingdoms will belong to you, if you bow down and worship me.
Best to just find a good way to ease out of the system and live on your own terms, rather than depend upon that system to be your bread and butter, IMO.
It will all fall down.
Where? City of London, That's Where
This is information that would never come out if:
Without The Internet
The Bernank would have shifted his suppression of gold and silver scheme to his partner in crime (and share holder in the FRBNY)...
Mervyn King at the Bank of England to be deployed by the City of London banking bitchez...
The FT and toilet paper of record NY Times would never have reported or printed a thing...
I wonder what JPM's auditor would say in their audit report. who is that, by the way?
I understand. They transfer the short positions to european commercial banks, so let the europe tax payers pay for it.
the major central bankers have an agreement to back each other out in cases of emergency. so the financial diseases in europe eventually spread to the u.s. and vice versa.