Posted on 07/21/2011 5:00:30 PM PDT by Nachum
For those haven't seen the evidence of Tuesday's blatant silver manipulation (which we expected beforehand here), where the cartel sold 250,000,000 paper ounces of silver (1/4th of Global world silver production) in 1 minute to smack down silver, prepare to have your eyes opened. 5 times the volume of all silver mined in the US annually was sold in 1 minute to knock silver below $40. We have said repeatedly to expect the cartel to become more and more like a caged animal as the silver manipulation end game nears.
(Excerpt) Read more at silverdoctors.blogspot.com ...
The list, ping
Let me know if you would like to be on or off the ping list
bttt
Jim Fiske & Jay Gould tried to corner Gold right after the Civil War and got creamed just like the Hunt Brothers in Silver in 1980.
You cannot control and corner such markets, these guys will be taught a very expensive lesson soon and then silver will start to move very fast.
Who is the cartel? What is their end game? Seems like they can flood all the silver they want but the dollar is still backed by nothing and there is still a finite amount of silver out there. And will that soften demand? I sort of doubt it. How many more times can “they” do this?
I do not believe it is a Hunt Bro’s type of scam. This is an attempt to drive the values lower to support the value of the dollar or the stock market.
The play is so large, that this is being done by some very large interests- like our gov’t. The actually value of silver is one quarter of all the silver mined in the world.
The public has lost faith in the Dollar and the Fed, the banks, foreign interests (the Euro) and big hedge fund pigs are pushing metals down to keep the currency high.
I don’t know much of markets, but something about the whole ‘paper metals’ market just doesn’t seem to ‘smell’ right.
They issue this paper based upon what? Is there actual metal sitting somewhere to back up the paper? Would anyone know if eventually there was more paper out there than there would be real ‘metal’ to back it up? It’s almost like a fiat currency, at least it seems to me.
The ‘Cartel’? - is the one issuing the paper silver on the COMEX. It is the COMEX itself, holding hands with the Fed, Goldman Sachs, and the banks.
Where is the SEC? Answer: playing us for suckers.
Silver Update 7/19/11 Caught in the act
http://www.youtube.com/watch?v=Y—jCrDOSjk&feature=player_embedded
Move very fast - up or down?
A quarter of annual production is nothing compared to total accumulated stocks and private holdings. Were these reversals of previous purchases or new contracts that will require future delivery? If the latter, they could lose a lot in a rebound.
Reminds me of the Pitman Act when about 250 million ounces of silver was sold to India in 1921 (in the form of melted Morgan dollars from U.S. Treasury vaults) to be replaced by new silver dollars in order to subsidize western miners.
But the Morgan dollars were 90% silver, while Indian rupees were then 91.7% silver.
What does this mean? “The actually value of silver is one quarter of all the silver mined in the world”.
It means that large interests are driving down the spot price of silver on the COMEX so that the dollar looks stronger.
Now, who do you think might want that to happen?
Is bulliondirect a legitimate place to purchase physical silver bullion for delivery?
Any licensed and insured dealer should be ok. Do a search for licensed dealers and then get some quotes. They may not be your best place. There are a lot of laws surrounding the sale of gold or silver from dealers.
Just my 2 cents.
Thank you.
Now, who do you think might want that to happen?
The ‘Cartel’? - is the one issuing the paper silver on the COMEX. It is the COMEX itself, holding hands with the Fed, Goldman Sachs, and the banks.
Oops...post# 8 has the answer :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.