silver price manipulation whistle blower assassination attempt

Silverbull

harryhound wrote: »

Any body got the history of how gold was fixed at 35 USD per oz?
You might well be right about silver in the long term BUT I would have hated to buy gold on the UK at say 40 USD/oz and then finding trading my gold made illegal.
(A friend of my late father got a nice promotion for sorting out the gold smuggling by the staff of BOAC - Better on a Camel if you are too young to remember).

Though we could argue that the huge growth in international travel will make re-introducing the suspended exchange control measures; perhaps we should stock up on opium - ever expanding world population of no hopers should produce an increasing demand.
[Seriously though we had a lot less trouble in UK, when heroin was on prescription.]

The advantage of physical silver bullion bought privately is that it is a private investment only you know about it.

If they do make holding gold and silver illegal again (yes they have done this) then I will be delighted.

Just think what price it will be then :0

I will happily sell most of it to the government and quickly buy lots and lots of houses in London. I will keep a bit for free market trading. I trust my silver bullion far more than any of the fiat currencies.

Hey Harry maybe your name should be Heroinbull, Im sticking with Silver bullion as my investment choice. I am a selfconfessed Silver junkie.

Silverbull

"By recognizing just how unusual is this joint silence you will come to appreciate the significance of the problem, as well the historic investment opportunity at hand. Not only are the public petitions to the CFTC about the silver manipulation unprecedented, the lack of a response is also unprecedented.


I believe that if you openly say something negative or incorrect about a big institution, you will hear from them. They would force you to correct your statement, especially if you said it repeatedly. Even in our new Internet-dominated environment, corporations have been known to aggressively seek out and silence anonymous critics who say damaging things. The silver manipulation is an ongoing criminal enterprise and I’m certainly not anonymous.

Forget the supply/demand fundamentals, the very small amount of silver remaining in the world versus the very large amount of money capable of buying it, and the allegations of manipulation. Instead, focus on the silence. Focus on the legitimate questions being asked about concentration and the lack of a valid response for almost two years. Focus on the thousands of public comments sent to the CFTC about position limits in silver and the resulting silence. Focus on how JPMorgan and the COMEX go silent even while they are accused of the most serious of all market crimes – manipulation."



http://news.silverseek.com/SilverSeek/1277129806.php


Its a good point he is making, why dont they even try and deny these serious allegations?

"The reason is simple – no one wants to be the one who sets off silver. They all know just how severe the silver manipulation problem has become. They think if they don’t say anything at all, they won’t be blamed for it. They are postponing dealing with a problem they know is going to reflect badly on them. Whoever speaks first loses. But the big concentrated short position in silver is not going away without price fireworks. If it could have been made to go away, it would have gone away by now. It would not have remained intact and grown more concentrated. If there was any other way, it would have happened, for no other reason than to silence the critics. It is this set-up that presents the investment opportunity of a lifetime.

Because this silver manipulation is a very rare manipulation to the downside in price, the way to take advantage of it is as simple as chewing gum. All you have to do is to buy as much silver as you can before the manipulation is terminated and the price explodes."

harryhound

When just about every other market includes special interest groups, trying to manipulate the price, why should silver be different?

Here we are in soft commodities:

[FONT=Times New Roman,Georgia,Times]Producers have made various attempts to iron out the market’s ups and downs. The International Pepper Community—which includes India, Indonesia and Brazil among its members—has tried for decades to form a producers’ cartel to boost prices, without any success. Price fixing by vanilla growers in Madagascar succeeded for a while, but then Uganda flooded the market with cheaper beans. Indonesia and Grenada, the top producers of nutmeg, managed to boost prices for a few years by limiting supply, but cheating quickly scuppered the arrangement. Quiet talks are underway between top cardamom producers in India and Guatemala, who produce nearly all the world’s output, to restrict supply; it may work for a while, but not for long. [/FONT] [FONT=Times New Roman,Georgia,Times]Every decade or so, an ambitious individual trader tries to do with money what the producers cannot do by agreement. To corner the pepper market would offer huge riches, and so people regularly have a go. Half a century ago, it was an Armenian; a decade ago, an American. Now it appears that a shadowy Indonesian tycoon may be making a play for at least the white pepper market. But history teaches that such grandiose efforts at monopoly face an uphill struggle. And though it may be possible to milk them for a while, the modern day economics of the trade ensure that they cannot last. The spice trade, once the stuff of legends, has become a market much like any other. And a taste of luxury beyond the dreams of almost every human in history is available to almost everyone, almost everywhere.
[/FONT]

Silverbull

CNBC finally covers the whistle blower on the silver price suppression. Many months after the event, but just to hear his name on main stream media is shocking.

They didnt cover his car getting rammed the day after, or the police helicopter chase and the sudden cover up.

http://jessescrossroadscafe.blogspot.com/2010/07/cnbc-europe-is-gold-bubble.html

He covers the difference between the paper and real physical metal well.

Silverbull

sabretoothtigger wrote: »

I'd say regulators are going to favour government policy basically, right or wrong. We have a general policy of loose money.

Major network going to cover the story! Will they talk about the assassination attempt?

http://www.youtube.com/watch?v=LZnPqlQF3pU&playnext_from=TL&videos=WbBCrZWW8XI&feature=recentu

It may be covered by a major network for a special/piece, but the question is if it will continue to be buried due to JPM's money and influence (will the special air at 3am). I'm liking these developments but I'm not going to get my hopes too high until I see some major action to follow the hype. It's a wait and see I guess. : /

Llubrevlis

vJP Morgan holds a massive short position in silver, some of which it is said to have inherited as a concentrated speculative position from Bear Stearns. Retreats from such overextended positions are never easy, and therefore never straightforward. Having such a position can be very profitable in the short term since it gives one remarkable control over the paper price of a commodity, paricularly if the regulators are willing to turn a blind eye to certain trading practices

If it is indeed reducing its oversized short positions, JP Morgan will undoubtedly attempt to 'smack the price' on occasion even as it covers, to prevent the specs and hedge funds from taking too much leash to the long side. This will help to prevent them from provoking a disorderly rout and, God forbid, a 'short squeeze.' In these managed markets, the major players tend to respect each other's turf, so one has to wonder who might take them on.

The 'deadline' if any that they might face is prospective position limits to be imposed and more transparent reporting required by the CFTC. Given the past history, it is most likely that JPM will not be overly inconvenienced by them in the short term. Ted has always been the optimist with regard to regulatory reform and willingness to 'do the right thing.' I also believe this will happen, but slowly. Still, it does seem as though the darkest hour is always before the dawn, and the last few weeks have been disheartening for the metals bulls, as demonstrated in the sentiment indicators.

Let's see what happens in the market and take our cues from that.

http://www.marketoracle.co.uk/Article21556.html

Llubrevlis

Known Above Ground Silver Holdings
Form Ounces
Silver ETF SLV 295,313,780
US Eagles Minted 240,418,077
COMEX Warehouses 114,102,049
Estimated Private Bullion (non eagles or maples) 120,000,000
Central Fund of Canada 75,209,103
LBMA Estimated stocks 75,000,000
Canadian Maples Minted 21,303,000
Silver ETF ZKB - SWISS 7,397,885
BMG Bullion Fund 5,033,609
Total 953,777,503
Click charts below to enlarge


There is nearly twice as much gold as there is silver in the form of investment grade above ground bullion and coins, and that ignores that fact that 52 percent of the worlds gold is kept in jewelry. While there is an 953 million ounces of above ground silver, there is an estimated 1,803 million ounces of above ground gold in bullion form.

It is important to note a few structural differences in the holdings of gold and silver as well. Approximately half of the above ground gold bullion is held by governments. There are no known silver reserves held by governments. While governments have historically sold their gold to finance their budgets and keep the gold price contained there is no similar readily available entity that could sell silver bullion. Precious metals investors often hold onto their precious metals for time periods measured in years, decades, and lifetimes. Most private investors will not sell their bullion for a 10 percent or possibly even a 100 percent gain. Therefore, even if there are nearly 1 billion ounces of silver in existence, the question remains on how much of that is actually for sale at anywhere near today's prices.

http://seekingalpha.com/article/215450-where-is-the-silver

MrEnglish

Andrew Maguire of London blew the whistle on JP Morgan Chase's very likely profound manipulation of the silver market to the CFTC. As financial government watchdog agencies are wont to do these days, they did their best to sweep it all under the carpet. How the SEC handled Bernie Madoff's ponzi scheme is a prime example of this. This matter is not a ponzi scheme but it is a the largest scam ever going into the trillions of dollars territory. But back to Maguire who was quite determined to clean up the business of commodities trading. He goes public with powerful compelling evidence of JP Morgan Chase's manipulation of the silver market. This happens on a Kingsworld radio show. The next day someone tries to kill him by ramming a car into Maguire's car. Maguire and his wife who was also in the car are hurt pretty bad but survive. After this in their infinite wisdom the commodities watchdog the CFTC decides to have a meeting with most of the key players in commodities trading but exclude Maguire from attending. At this meeting a secret is revealed that could easily tear apart the fabric of our barely functional financial system. The secret is that for every 100 ounces of gold and for every 100 ounces of silver traded on paper there is only one actual ounce of gold and one actual once of silver to back up these trades. Given that yearly there is trillions of gold and silver traded on paper this is the literally biggest scam in the history of scams. Now the guy who let this cat out of the bag didn't think it was a big deal using the logic that as long as the buyer was paid the value of his purchase at the time he wants to sell it doesn't matter if his purchase was backed up by an actual commodity. This cavalier attitude does seem to reflect the mind set of people working in our financial system that everything is smoke and mirrors except the money being exchanged.

It is quite possible and even probable that someone with enough financial resources and the will to do it could turn our financial system upside down and make an enormous profit from it.


http://www.huffingtonpost.com/tom-pappalardo/gold-silver-trading-bigge_b_706594.html

MrEnglish

I wonder if those who said there was no silver manipulation will change their minds now?

The 2 year investigation of the silver manipulation has now said yes there is a price suppression.

"From here on, those who refer to GATA and its supporters as 'the tin-foil hat' crowd are only making fools out of themselves and revealing themselves to be mere hacks of the bullion bank crowd."

You can find Norcini's commentary at JSMineSet.com here:

http://gata.org/node/9215

DiggerUK

MrEnglish wrote: »

.......The 2 year investigation of the silver manipulation has now said yes there is a price suppression........

Like hell they have, they haven't even published their conclusions.
Why make these stories up?