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Max Keiser's Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His "Silver Squeeze" Thoughts
As Zero Hedge readers know, the reason why the US mint sold a record amount of silver American Eagle coins in November is unlikely a coincidence, and very possibly an indication that the recently disclosed plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP Morgan is working: to wit, if every person buys an ounce of silver, JP Morgan and its massive synthetic silver short position, will have no choice by the cover, face unprecedented margin calls, and possible lead to an end for the New York Fed's favorite bank. Today, Keiser goes mainstream, detailing his thoughts in The Guardian, which courtesy of its massive circulation is sure to reach far more readers to whom this idea is new. To keep a track of how well this plan is working, we suggest readers check in with the US mint, which frequently updates the amount of silver American Eagles sold on its website (link). The full Guardian article is below.
Want JP Morgan to crash? Buy silver, published in The Guardian
The campaign to buy silver and force JP Morgan into bankruptcy could work, because of the liabilities accrued by its short-selling
For decades, the world's banking system has been on a fiat currency
standard that has led to banks that are "too big to fail". They have
overreached their remit of providing loans and have leeched into the
political system, using our money to change the political agenda in ways
that boost bank management's compensation over the interests of their
depositors.
Over the past 11 years, the Gata (Gold Anti-Trust Action) committee has worked to reveal
the silver/gold price suppression scheme; thanks to whistleblower
Andrew Maguire in London, an investigation has been opened. As part of
the ongoing exposé, it has now become clear
that JP Morgan is sitting on what is estimated to be 3.3bn ounce
"short" position in silver (which they have sold short, meaning they
don't own it to begin with) in an attempt to keep the price artificially
low in order to keep the relative appeal of the dollar and other fiat currencies high. The potential liability for JP Morgan has been an open secret for a few years.
On my show, Keiser Report, I recently invited Michael Krieger, a regular contributor of Zero Hedge
(the WikiLeaks of finance). We posited that if 5% of the world's
population each bought a one-ounce coin of silver, JP Morgan would be
forced to cover their shorts – an estimated $1.5tn liability – against
their market capital of $150bn, and the company would therefore go
bankrupt. A few days later, I suggested on the Alex Jones show that he
launch a "Google bomb" with the key phrase "crash jp morgan buy silver".
Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.
Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver
on a wholesale level is drying up. The most important indicator is the
price itself – holding just under a 30-year high. With each uptick JP
Morgan gets closer to going bust or requiring a bailout.
Here's
how the campaign works: wealth tied to a fiat currency is easily
overwhelmed by wealth tied to silver and gold. And the world is waking
up to the fact that they have the ability, without government assistance
or other interference, to create a new precious metals-based backed
currency system by simply converting their fiat paper into real money.
This
campaign has 100% chance of working; it falls into the category of a
self-fulfilling prophecy. As more individuals buy silver and gold, all
attempts to replenish the system with more paper money will only cause
the purchasing power of the silver and gold to increase – thus prompting
more people to buy more. Any attempts to bail out JP Morgan would have
the same effect. If the US Fed was to flood the system with bailout
money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management),
more inflation will ensue and the price of silver and gold will rise
more, triggering more purchases. A virtuous circle is born.
If
anyone is interested in helping to crash JP Morgan, buy silver. In the
end, it's about transferring wealth back to the people from where it
came.
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Quantitative Squeezing?
Here are some other heroes in the fight:
http://www.youtube.com/watch?v=pItsaMSmcPQ
http://www.youtube.com/watch?v=0gQytWGF6A8
http://www.youtube.com/watch?v=9AofEj2na5I
Fuck em. I feel like Dan Aykroyd in Trading Places. I posted my Public Service Announcement at the link.http://thecivillibertarian.blogspot.com/2010/12/divine-wind-kamikaze.htm...
How is Max any different from Julian Assange? All talk sounds like opening up a can of PBR to me.
People just don't get the numbers, so they don't understand. Say you had a billion dollars to invest, how much silver could you buy? 30-40 million ounces? Good luck taking delivery of anything but a piece of paper. The numbers are just too small. With the tiny amount of silver that is left, the price has to rise ten fold from here just for there to be enough for some of the bigger players to even GET IN THE GAME! Get it? At 300 bucks an ounce, silver will just be getting started.
"At 300 bucks an ounce, silver will just be getting started."
Hmmm. Not so sure. Though $100 is certain and $200 is likely.
http://www.gold-eagle.com/editorials_08/souleles112610.html
WHY SILVER WILL NOT GO TO $500 BUT WILL ALWAYS BUY YOU LUNCH
Peter Souleles B. Com. LLB.
26 November 2010
some online sources... in no particular order... http://www.onlygold.com http://suissegoldcorp.com http://www.store.firstmajestic.com http://www.certifiedmint.com http://www.paradisemint.com http://www.directcoin.com http://www.silvertrading.net http://apmex.com http://www.golddealer.com http://www.ajpm.com http://www.mjpm.com http://www.scpm.com http://www.tulving.com http://www.allamericangold.com http://www.coloradogold.com http://www.bulliondirect.com http://www.goldmasterscoins.com http://discountsilverclub.com http://www.amark.com http://www.nwtmintbullion.com http://www.ccsilver.com http://seattlepi.nwsource.com http://www.wexfordcoin.com http://www.goldsilverbullion.com http://www.goldfingercoin.com http://www.milesfranklin.com http://www.gainesvillecoins.com http://www.amergold.com
This is as lame as Cantona trying to drop the banks and as little chance of working. Nice idea but there's no way you'll outfox the the elite bankers.
The bankers have just about outfoxed themselves.
Took delivery today of 45 Silver one ounce Maple Leafs.
what did you pay an ounce and when?
Karl denninger explained why this will not work in one of his recent Blogtalk radio shows.
Well, if Karl Denninger says it won't work, then that is positively the last word on the subject, isn't it? LOL!
I am still waiting for Karl to even figure out what money is, and is not --- he still seems to think that houses, stocks and indeed ANY asset constitutes "money". Nifty theory, Karl, too bad that all evidence, all of history, and logic itself refute that cute little notion of yours.
Actually, anything that can be bartered for something else, in the purest sense, is money.
Whether it can be bartered for more or less of that which is desired is irrelevant as to whether it is or isn't money.
Just because people are conditioned to think of fiat paper as money, while others have been taught to think of precious metals as money, doesn't mean that money is a broad concept, and that fundamentally, something of value that can be exchanged for other things of value doesn't or shouldn't be considered a form of money.
Max Keiser vs. JP Morgan Silver Manipulation
http://www.silvergoldsilver.com/
great video