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More "Source" Input On Coming Precious Metals Price Explosions
Bill Murphy
Chairman Gold Anti-Trust Action Committee
August 12 - Gold $1619.70 – Silver $28.06
More "Source" Input On Coming Precious Metals Price Explosions
Over the past month+ I have been pounding the table that based on information from three extremely informed sources the prices of gold and silver would begin their launches to much higher prices in August … a launch that would lead to all-time highs in both precious metals and well beyond.
The reason for this Mini-Midas is that I just received some new input, which supports what my original sources have been telling us for some time. It is from someone I have known for a long while and is of the same caliber as my other sources in terms of reliability. When you have traded commodities and stocks as long as I have, and get to be my age, it is fairly easy to sort that all out … and what to run with.
Here it is … short, sweet, and maybe VERY important:
August 10, 2012
The METALS
I have spoken before about my contact on the Board of Trade who trades mainly the metals and is in touch with New York minute by minute. He has been saying for several weeks that the metals would have one more big drop (1525-1550) before they really took off. Today he changed his mind. They saw heavy covering of shorts in Chicago and New York. This should show in next week’s COT. They see an explosion of huge proportions and are adding four more floor traders as they see August as a record month for them. He closed by saying "We could see a 100% increase in 90 days." Tie this in with other things that we have read and heard. Golden regards
Peter
If what Peter sends us pans out anywhere close to what he has been told, this Mini-Midas is more than well worth the read. What fascinates me is that this new input confirms what my other three sources have been saying. Now we wait to see how this plays out in the three weeks of trading left ahead in August.
In addition, as you well know by now, it has come to my attention from all of my original contacts that JP Morgan has a big problem with their silver short position and that this problem will reveal itself in a public way in the near future…
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There will be nothing close to a 100% move in gold in the next 3 months. To even speculate about it is preposterous.
My latest thoughts here:
http://wp.me/p2CT0a-2N
I think election + 1 week equals time of max stress and potential for market to return from "preposterous".
your latest thoughts are printed right here in Zero Hedge for everyone to see and junk. No need to follow up on the spam.
Indeed. The only thing that could drive prices that far that fast would be a systemic breakdown of some sort, a la Rollover.
100% in SILVER I might, MIGHT be able to see, as that has at least happened before. 100% in gold implies 2-300% in silver, which hasn't happened before to my knowledge.
JP Morgan will need a bailout to survive. They'll get it too.
A bailout that will allow them to continue their shorts... or, alternatively, pass the torch to someone else.
I'm really not sure why the TReserve even bothers to keep hatchet men around (e.g. the morgue) for plausible deniability when no one trusts any of them...
You're harshing my buzz, dude.
Can't a 100% move occur right after a 50% decrease?
The more things change, the more they stay the same!
or is it...
The more things change, the more you have to do laundry?
Hook Line and Sphincter (!)J
But Blythe looked us all in the eye and promised us that JPM doesn't manipulate metals prices. It would be wrong, she said.
"Here it is … short, sweet, and maybe VERY important:"
I'll see your 'maybe', and raise you a 'bullshit supposed insider knowledge'.
Tylers, why do you post these useless nose pickings? It contains NOTHING of use, other than riling up the PM crowd.
Yea, but if Blythe looked you in the eyes and started "manipulating" you under the table would you still tell her she is wrong?
A moral man would say so before... A immoral man would wait until after to say so.
This, in a nut shell, explains where are markets are at today. Until character, morals, trust, honesty, fairness can be returned into these markets we'll never trust a broken market.
All the govt. has to do is require that taxes and other payments be in precious metals. So long to your nest egg. There's no escaping the empire this time.
can't even fathom the way your mind is working on this on
Good - it's not just me.
IF she had stated that it would be "unprofitable," there might be cause to believe her sincerity...
Wasn't that Blythe Danner who said that?
If PM's made this kind of move, the beginning of the end would be near...and, it's not. The neo-cons love that fuck stick Ryan, they'll end it when he is in office, if he doesn't have a heart attack first.
Ryan may be the only Congress critter who knows how to count. Backwards especially.
Not really at all....
If things unwind a bit faster than many otherwise anticipate (viz the general consensus on these pages) then what we'll all be facing is a coordinated downturn in the US Europe and China accelerating. To date the central banks have seemingly (to this author) played an interestingly uniform game of withholding further stimulus as things have just not become "bad enough, yet"...
Yet... as in uniformly, deeper, what would be more welcome by the metals that a coordinated global ease (US, EU, China, et al) particularly in an effort to stave off increasing dis-inflationary pressure... their worst nightmare.. further down the rabbit hole, deeper into the liquidity trap.
Last time they did this, gold managed to take off from Q4-08 through Q2-11. The last big move when the price was not actively suppressed as there was a desire to demonstrate some sense of "inflationary" pressures. Remember, late 08 was when Ben et al went public with the need to prevent deflation in several select public pronouncements.
Add that to the coiling actions taken over since mid-2011....
Maybe, maybe, maybe, the next leg everybody would like to see .
Been along hard slog.
(fingers crossed, slapping self for jinxing it, muttering, maybe a bowl of Hagen Das would help...)
Judging from the replies, here, if gold price does rocket, there will be as many miss the move as last time!
Many who are not commenting on this forum went "all-in" long ago, are growing their stacks as funds allow, and now are keeping their eyes on the horizon and have given up talking about the future price of PMs with those who won't listen to logic.
Excuse me while I dance the jig...
Whoa... NEVER dance the jig BEFORE its time. But, definitely get ready though.
Can someone please explain how JPM could have 'problems with their silver shorts' when silver is at 28 (57% down from last year's high)?
Tia
Edit: well come on 'junker', explain it then, or are you just happy to accept anything that's being said without any critical judgement?
I'm the other junker: it depends how many shorts they have. I'm thinking: a few.
"a few"
That still doesn't explain how JPM could be in big trouble with their shorts after the price moved 57% in their direction!
I guess no-one can explain that so let's just believe anything that's posted by 'someone who reckons the price of silver/gold is going up'.
Not ZH ethos, by a long way.