Silver 12 Cents Away From Post Hunt Brothers Closing High

Tyler Durden's picture

Now that we know that JPM had a statistically impossible 97% win track record in 2010, we can't help but drool in jealousy. However, we wouldn't be doing our journalistic duty if we didn't inquire just how much did JPM brush under the rug on their underwater gold and silver short exposure, and whether or not Blythe Masters' bank is even accounting under GAAP for the now documented price suppression scheme? After all, Blythe is the master brain behind such no margin "bearish exposure" products as CDS - it would be only logical that she discovered some way to make her massive paper silver short carried on the books at a minute fraction of gross notional exposure. Furthermore, it is no wonder that today Gary Gensler demanded a pound of flesh for his kickbacks to the banker lobby which allowed JPM to be grandfathered in with their huge short positions (claiming the CFTC would need to fire hundreds of worthless staffers if the corrupt agency's 2011 budget wasn't lifted, despite O'Malia's protest). We ask all this because despite all the unprecedented manipulation: the close banging, the paper shorts, the AM-PM session divergence, silver is now at $30.80, and is just 12 cents away from its post-Hunt Brothers record close, which was printed on New Year's Day at $30.92.

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Judge Judy Scheinlok's picture

I LOVE SILVER!! AND I'M NOT TALKING ABOUT THE PAPER SILVER. TIME TO BUY SOME MORE, THE GAME IS JUST BEGINNING.

Ragnarok's picture

I love the ability to type in both Upper and Lower case.

quasimodo's picture

PLUS one :-)

Methinks the judge needs some lady meds

Judge Judy Scheinlok's picture

METHINKS YOU NEED TO REWRITE YOUR PARSING ALGORYTHMS TO INCLUDE PEOPLE WHO YELL ALL DAY LONG !?!

h3m1ngw4y's picture

nobody likes screamers. such bad manners

Cathartes Aura's picture

'tis the interwebs, which is populated with G.I.R.L.s - guys in real life - lots of new trolls signed up in the last two weeks, heavy on the one-liners. . . feed 'em & weep.

Confuchius's picture

Rag

We gotta remember who we're dealing with here...

To find lower case requires an IQ out of the single digits!

dearth vader's picture

A case for casual treatment?

Fíréan's picture

Ignore the pithy remarks, many here are more concerned with the presentation of the message than the content and hence, as in life, never get it .

Small caps large caps, who cares, please continue posting interesting content and comment. I'm reading.

Lets_Eat_Ben's picture

Is it just me, or does anyone else find that wicked, old harpy Blythe Masters as fuckable as she is culpable???

bankrupt JPM buy silver's picture

I ate a maple today for shits and gigs...seriously

 

www.silvergoldsilver.blogspot.com

Cash_is_Trash's picture

Arriba arriba arriba la plata PUTAS!

I pray for Mexico to re-introduce silver coinage, silver standard mis amigos gringos.

flaunt's picture

Silver Open Interest just ballooned from 142,520 yesterday to 147,465 today.

The all important March 2011 silver contract, which should be rolling over to future months,
actually GAINED from 61,237 to 61,720 contracts today.

http://jessescrossroadscafe.blogspot.com/2011/02/just-when-i-thought-i-w...

EscapeKey's picture

This is getting interesting...

william the bastard's picture

Was there a split somewhere along the way?

During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980.

2 Hunts Fined And Banned From TradesBy KURT EICHENWALD
Published: December 21, 1989

http://www.nytimes.com/1989/12/21/business/2-hunts-fined-and-banned-from-trades.html

 

Bay of Pigs's picture

Very old news. Means exactly nothing today. 

Judge Judy Scheinlok's picture

As an aside, there may be a hedge fund 'raid' on the Yen coming. Or perhaps word of official action has leaked. I am not sure what a 'watershed event' implies here.
"In an important development, The Gartman Letter – which not only has an excellent nose for major currency trends but which is also very well informed – declared a “Watershed” event for the yen, and increased its yen short positions, including adding another yen/gold “unit”. "

I Am The Unknown Comic's picture

THANK YOU SO MUCH FOR NOT TYPING IN ALL CAPS THIS TIME BECAUSE IT REALLY IS UNPLEASING TO THE EYE.  I'M GLAD YOU ARE A PART OF ZH FIGHT CLUB AND SEE THAT YOU WILL NO LONGER NEED TO SHOUT YOUR COMMENTS IN ALL CAPS BECAUSE YOU ARE SMART ENOUGH TO GET YOUR POINT ACROSS IN NORMAL PUNCTUATION!!!!!!  WELCOME AND PLEASE KEEP BRINGING IT ON!!!!

Judge Judy Scheinlok's picture

OH THANK YOU FOR SUCH WARM WELCOME. THE ABOVE POST WAS ACTUALLY A QUOTE FROM JESSIE, BUT THANK YOU JUST THE SAME AS THERE ARE FEW GENTELMEN HERE ON THIS WEBSITE.

 

JUDGE JUDY HAS RULED IN YOUR FAVOR!!!!

beastie's picture

For those who want to know a little more about the supposed Hedge fund raid on the comex do a search on the yahoo boards for Wynter_Benton, Turds blog comment section

and

http://screwtapefiles.blogspot.com/

for a summary

oddjob's picture

GARTMAN?...get real.Ignore anything he says,its no more than white noise no matter the message.

Hearst's picture

The Silver market is tighter than a bull's ass in fly season..

Instant Karma's picture

I'm guessing that's tight, having had no direct contact with bulls in or out of fly season.

Sophist Economicus's picture

I think I can, I think I can....

Hephasteus's picture

Let silver tell you the story about the little engine that could.

http://www.youtube.com/watch?v=W2n5BSslNgA

Blank Reg's picture

Thanx. Now I'll have nightmares all night.

SilverIsKing's picture

TWO NICKELS & TWO PENNIES BITCHEZ!

homersimpson's picture

"Silver is the root of all evil.."

Framed quote hanging on Blythe's wall..

Windemup's picture

No. It's "THE LOVE OF" silver is the root of all evil.

Pool Shark's picture

No. It's "THE LACK OF" silver is the root of all evil.

StychoKiller's picture

I understand that APMEX sold at least 50 10Toz Silver bars yesterday -- or so a little bird told me.

trav7777's picture

'grats to anyone who BTFDd and went balls deep in FM SLW calls

SWRichmond's picture

What a great stock.  I bought some but didn't load up; I should've loaded up.  I DID load up on HL.

Turd Ferguson's picture

Admittedly shameless self-promotion but I "produced" this two weeks ago. The predictions contained have turned out pretty well.

http://www.youtube.com/watch?v=RBGqtOKmWHo

GoinFawr's picture

Sir B: ...Well?

Peasants:Well we did do the nose...

SirB: The nose?

Peasants: ...and the hat; but she's a witch! Burn 'er!

http://www.youtube.com/watch?v=zrzMhU_4m-g

tellsometruth's picture

nice turd... pretty close to 31 today...