BUY PHYSICAL SILVER to expose JP Morgan's Fraud...BANKERS OR US

[Letsbereal]

"The Official Silver Keiser Pre-Order Sales are Here While Supplies Last!"



http://www.silverkeiser.net/

[SavvyRonPaul]

I just bought mine! Can't wait to get it in mid-January, it's so cool!

[jerryweaver]

Found at Rumormillnews.  I am guessing JP Morgan is paying attention to Max Keiser and gang.

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=189680


BIX WEIR: US Banks (i.e. JP Morgan) Buy Back 22M oz of COMEX Silver in November

Posted By: watcher51445 <Send E-Mail>
Date: Saturday, 11-Dec-2010 04:11:11
US Banks (i.e. JP Morgan) Buy Back 22M oz of COMEX Silver in November

The CFTC just released the Bank Participation Report for December (Nov 2-Dec 7).

http://www.cftc.gov/dea/bank/deaDec10f.htm

The data shows a fairly large drop in Silver Short Futures in the US Bank Category where the huge JPM's short is reported. The US Bank Shorts dropped from 30,760 contracts to 26,332 contracts or just over 22M ounces. I guess we don't have to question why there was such an increase in Silver volatility lately!

Watch for this number to drops SUBSTANTIALLY before the CFTC implements it's position limits over the next few months.

Especially keep an eye on this number come early January 2011.

Let's see how low they can go without sending Silver to the MOON!

Bix

PO Box 10626, Oakland, CA 94610, USA

[feeditup]

I'm 15 ounces deep this month. Making up for some of them slackers

[Letsbereal]

CFTC Commissioner Bart Chilton Reveals "One Trader" Controls 40% Of Silver Market, As Silver Holdings Of SLV Hit All Time Record
11 December 2010, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/cftc-commissioner-bart-chilton-reveals-one-trader-controls-40-silver-market-silver-holdings-

Excerpt:

After we reported a week ago that JPMorgan was trying to corner the copper market, many noted this was not surprising, considering the bank's comparable approach in manipulating various other precious metal markets.

Naturally, we extrapolated that the main reason why the CFTC continues to refuse to delay implementation of position limits is precisely due to the JP Morgan's need to control commodity pricing precisely due to such manipulative trading practices:

"As for the CFTC, we now know why they are so intent on delaying the size limit discussion: after all, any regulation will be forward looking - better let JPM accumulate all commodities it can and distribute these via hidden channels to affiliated subs before the ever so busy Gary Gensler corrupt cronies decide to raise their finger on what is increasingly an ever more blatant market manipulation scheme.

At least in this case, JPM will push the price higher unlike what it is doing courtesy of its gold and silver manipulation.

However, the PM market (especially Asian accounts) will soon make sure Blythe Masters is looking for a job within 3 months as we predicted a few weeks ago."

The only problem with this story is that so far, is that unlike copper, JP Morgan's now legendary paper short in the silver market, long taken for granted by the "less than in mainstream" community, has been persistently ignored by the broader media due to the a lack of concrete evidence.

Hopefully that will now change: courtesy of a speech delivered by none other than the CFTC commissioner Bart Chilton, who continues to expose the CFTC and the banker cartel's illegal market manipulation practices, we now have proof that "one trader held over 40% of the silver market."

As this trader is either JP Morgan directly, or various Blythe Masters proxies, we can only hope that finally the broader outcry against JPM's ongoing attempt to suppress precious metal prices (insert Mike Krieger/Max Keiser "Crush JP Morgan" campaign here) will force the bank to finally unwind its shorts.

And if not, perhaps the market speculators will do it for them: as of Friday, the SLV ETF held an absolute record 10,941 tonnes of silver, an increase of 163 tonnes for the week.

What is even more amusing is that the Bart Chilton disclosure came during a speech blasting that other manipulative scourge of the market:

High Frequency Trading (it is helpful that over a year after Zero Hedge first recognized HFT as the biggest threat to market stability, subsequently confirmed by the flash crash, now the very CFTC is finally confirming we have been right all along).

In an ideal world, there would be an overhaul  to both position limit and HFT trading rules. Alas, we live in a world, in which the son of the heretofore biggest known ponzi, Bernie Madoff, has decided to take his own life on the two year anniversary of his father's ignominious collapse.

Surely, should the regulators confirm that our own markets are nothing but a massive ponzi, the suicides will be far more pervasive, as all those who "trade the tape" realize they have been following the crowd right over the cliff.

First, here is a snapshot of (alleged) silver holdings in the SLV ETF, which many believe is a direct and indirect attempt by Asian banks to force a massive short covering capitulation by JP Morgan.

And here is the full December 8 speech by Bart Chilton. Relevant sections have been highlighted (h/t Bill Murhpy and LeMetropole).

[Letsbereal]

'I like silver because it's the poor man's gold'
11 December 2010, (CommodityOnline)
http://www.commodityonline.com/news/I-like-silver-because-its-the-poor-mans-gold-34444-2-1.html

Excerpt:

The Gold Report: Stephen, could you please give us an overview of your fund and how you manage it?

Stephen Taylor: This fund is designed to focus on profitable niches wherever they may exist. Currently, we favor small-cap companies and emerging markets. We have a very broad investor mandate: our goal is to deliver absolute performance.

Our investor base is a pretty sophisticated group that I met in the Chicago trading community when I worked as a floor trader in the late '80s and early '90s. Many of our investors have been sounding boards that we share ideas with and they understand our style. They're patient and tolerant of extra volatility. The fund is an exclusive, closed fund, but may reopen to new investors in early 2011.

We try to find those niches that are undiscovered at any given time. We can trade anything that moves, so to speak. Recently, we've been finding opportunities in the emerging markets and natural resource spaces.

I work as the portfolio manager of the fund and spend my time between Chicago, Los Angeles and on the road visiting companies. Bob Kirkland, who I brought in to be president of the firm, handles the back office and the administrative side of the company. We've known each other for over 20 years and he has held top jobs at several trading firms.

Research Analyst Christopher Kliner joined us from Deutsche Bank in the spring and is also based in our Chicago office. Steve Digilio heads up our research effort in the New York office, focusing mainly on financial firms. Jeff Maher, our chief operating officer, worked with me on the fund's launch; he now works directly with me on a variety of projects for the firm. Recently, we have been spending a lot of time in California on one of our large positions, Meruelo Maddux Properties (OTCBB:MMPIQ), which is the largest private landowner in downtown Los Angeles and is also in Chapter 11.

We bought this stock because we believed it had significant equity value even though the company filed for Chapter 11. We began aggressively buying it and became the second-largest shareholder in the company. Management's initial restructuring plan treated the minority shareholders terribly. We asked the court for an equity-holder committee, which was granted.

I'm told that occurs in only 2% of bankruptcy cases, but we were successful in persuading the court. I'm chairing that committee now. We have been able to negotiate substantially more for the minority shareholders, but it's taken a lot of our time.

TGR: Let's talk about your research methodology.

[Letsbereal]

India silver demand soars in face of pricey gold
11 December 2010, Mumbai (CommodityOnline)
http://www.commodityonline.com/news/India-silver-demand-soars-in-face-of-pricey-gold-34443-3-1.html

Excerpt:

As gold price surges to unaffordable price range, India, the world's No. 1 silver buyer, is on track to show sharply higher imports of the white metal near 30-year peaks.

India's silver demand averages 2,500 tonnes per year and the country, which produces around 7.3 million ounces a year (206.95 tonnes) according to the Silver Institute, could import 20 percent more this year or 1,200 tonnes, the Bombay Bullion Association (BBA) says.

"Certainly there has been an increased interest in silver, and it's drawing interest from people who cannot afford gold, even return-wise the metal has done well," said Haresh Acharya, head of the bullion desk at Ahmadabad-based gold wholesaler Parker Agrochem.

Silver prices globally and domestically are currently running near record highs -- partly hauled up by gains in gold, but the poorer cousin is performing more brilliantly.

Domestic silver prices on India's Multi Commodity Exchange are currently close to records at 43,899 rupees per ounce and the metal is offering better returns than gold.

"There is demand for silver as the sentiment in the market is that prices may go to 50,000 rupees or 60,000 rupees now," said Shekar Jog, partner at Sangli-based V.S. Bullion.

[Letsbereal]

Silver: Hottest commodity of next decade
11 December 2010, New York (CommodityOnline)
http://www.commodityonline.com/news/Silver-Hottest-commodity-of-next-decade-34439-3-1.html

Excerpt:

Silver is going to be the investor’s choice in coming years as the white metal continues to lure investments from individuals, corporate and bullion dealers around the world.

On Friday, Comex March silver futures were down 14.7 cents, or 0.5%, to $28.67 an ounce, although up from their $28.06 low.

According to an outlook on silver from the US-based CPM Group, silver bullion prices will continue to remain at historically high levels in the next 10 years.

The bullish outlook from CPM Group said: “Investors who view silver as a safe haven asset are expected to continue buying large amounts...over the next couple of years as uncertainty regarding global economic growth, financial market instability, and volatility in major currency markets persist.”

“Silver prices are [then] expected to weaken as these concerns recede later in the decade, sparking a decline in annual silver investment demand,” it said.

CPM Group point out that strong silver investment demand is now “the single most important factor in influencing” the silver price.

[Letsbereal]

How China will drive silver to $250
3 December 2010,  by Peter Krauth, Money Morning (Stock House)
http://www.stockhouse.com/Columnists/2010/March/12/How-China-will-drive-silver-to-$250

Excerpt:

Individual investors can make an impact on its price

Once upon a time, the Chinese government forbade ownership of all precious metals.

But now, the ban has been lifted. In fact, China just introduced silver bars for investment. And now, state-run China Central Television (CCTV) is running a campaign encouraging the population to invest in silver.

That means there are over a billion potential new silver investors hitting the market. This is especially significant when you consider the average savings rate in China is 30 to 40%.

But the flood of new Chinese silver investors isn't the only factor driving up silver prices. The increased use of silver in everything from solar cell technology to medicine is pushing up prices as well.

Read on to discover exactly why silver will make savvy investors rich in the year ahead.

Chinese demand for silver

Take a second to think how much of an impact this will have on the silver market - the sheer amount of people, and at such a high rate of savings.

Then you factor in Chinese demand for things silver is need to make - cell phones, computer, batteries, silverware and jewelry. China's silver consumption already accounts for 70% of the global total of industrial use, and its middle class isn't even close to reaching its spending potential.

What's more, those aren't the only reasons analysts are predicting silver prices can reach as high as $100 this year and $250 by 2015.

[Letsbereal]

Seinfeld Silver Dollar
http://www.youtube.com/watch?v=PQx_T4xG98s

Seinfeld - George Costanza ponders about potential jobs
http://www.youtube.com/watch?v=2LCggmsCXk4

[mr anderson]

1 TROY OZ SILVER NEW WORLD ORDER

http://cgi.ebay.com.au/1-TROY-OZ-SILVER-NEW-WORLD-ORDER-/110621597273?pt=AU_Bullion&hash=item19c18f9e59

[Letsbereal]

David Morgan : Overdone silver to excel in 2011
13 December 2010, (CommodityOnline)
http://www.commodityonline.com/news/David-Morgan–Overdone-silver-to-excel-in-2011-34499-3-1.html

Excerpt:

Gold's record highs might steal all the headlines, but savvy investors know the real story lies in silver, where futures for December delivery topped $22/oz earlier this week—their highest levels in 30 years.

Why has silver risen so far so fast? For answers we turned to David Morgan, the founder of www.silver-investor.com and editor-in-chief of the monthly precious metals research guide, "The Morgan Report." As one of silver's most vocal bulls, Morgan has spent more than 30 years educating investors about this often-overlooked metal.

Recently HAI Editor Lara Crigger spoke with Morgan about the rise of "gold's poodle," including his stance on silver miners, the promise of green technologies and when we can expect a market correction.

[Letsbereal]

Indians dump gold for silver
13 December 2010, Mumbai (CommodityOnline)
http://www.commodityonline.com/news/Indians-dump-gold-for-silver-34488-3-1.html

Excerpt:

Even as India is showing ita might in gold imports, the country is also posting record silver imports this year.

According to reports, India has imported more silver this year as consumers normally fond of more expensive gold seek to lower cash outlays.

According to analysts, there has been an increased interest in silver, and it’s drawing interest from people who cannot afford gold, even return-wise the metal has done well.

India’s silver demand averages 2,500 tonne per year and the country, which produces around 7.3 million ounces a year (206.95 tonnes), could import 20% more this year or 1,200 tonne.

Around 50% of imports come from China while recycling makes up some of the supply of the metal. Silver is used in jewellery, coins and bars for investors, while industry uses the metal for products from light switches to cars.

Silver prices globally and domestically are currently running near record highs partly hauled up by gains in gold, but the poorer cousin is performing more brilliantly…..

[Letsbereal]

Gold, Silver transfers rise: LBMA
12 December 2010, by Allen Sykora of Kitco News (CommodityOnline)
http://www.commodityonline.com/news/Gold-Silver-transfers-rise-LBMA-34454-3-1.html

[Letsbereal]

The do not miss bullion interview of the day

SGT interviews Harvey Organ on $424 silver based on derivatives.

Part 1 – http://www.youtube.com/watch?v=xEIdYKUHAgQ

Part 2 – http://www.youtube.com/watch?v=1EQ69WDlvpQ

[Letsbereal]

Bid Bullion Releases 171,500 Ounces Of Silver "Max Keisers" In Ongoing Campaign To Destroy JPMorgan
9 December 2010, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/bid-bullion-releases-171500-ounces-silver-max-keisers-ongoing-campaign-destroy-jpmorgan



Anyone who thought Max Keiser would tire of his plan to destroy JPMorgan using a physical crunch may be disappointed. In fact, just the opposite. The outspoken critic of every fraud financial has, with the assistance of Bid Bullion, just launched a limited edition silver bullion named Silver Keiser. The total amount of new silver to be created will be 171,250 ounces. Furthermore, beside sharing his visage with one face of the currency of the JPM resistance, "Max Keiser has nothing to do with Bid Bullion and will not benefit in any way from the sales of the Silver Keisers. Max Keiser was quoted saying - "Bid Bullion has free use of my name and image for this. I have no personal stake, or any business relationship at all with Bid Bullion in the creation and distribution of these coins." Obviously, with numerous silver retailers out of inventory, this issue will likely sell out very quickly. In tangential thoughts we wonder what comes next: the US mint issues Gold-Plated Tungsten Assanges?

Full Silver Keiser press release:

Bid Bullion releases its limited edition silver bullion to commemorate Max Keiser and his efforts in increasing the prices of silver.

Bidbullion.com, a new penny auction selling precious metals at pennies on the dollar, has released a limited edition silver bullion by the name of the Silver Keiser.

This move couldn’t have been taken at a better time. On November 11th, 2010, Max Keiser, a finance critic and former stockbroker, told the listeners of the Alex Jones show that they should start “Google Bombing” the term “Crash JP Morgan, Buy Silver” to increase the rankings of pages that aimed at exposing the obvious short in the paper silver market.

Keiser and Jones’ underground campaign was met with a worldwide success, and went viral. As a result, the value of silver increased more than 8% in value thus far and continues to rise. According to Keiser, people’s efforts should only cease when silver is finally sold for its true value, which is $500 per physical ounce.

With such a historical event unraveling before the whole world, Bid Bullion decided to release the limited edition Silver Keiser. Jeremey Hillsdon, Bid Bullion’s co?founder said, “We wanted to help capture the moment by commemorating Keiser's life's achievements thus far, by creating a piece of history.” Aside from thanking Keiser for his efforts, the Keiser Silver will help remove 171,250 ounces of physical silver from the global markets and place them in people’s reach.

Bid Bullion has created 25,000 units in 1/10, ¼, ½, 1 ounce and 5 ounce rounds. Each of these has the picture of Max Keiser engraved into its fine, flawless surface, and has the quotes "Global Insurrection Against Corporate Occupation" and also "Crash Banksters, Buy Silver". In addition, each bullion will be marked with its related weight, the dates 2010/2011, and .999 Fine Silver to add more value for silver investors and collectors.

However, investors should keep in mind that Max Keiser has nothing to do with Bid Bullion and will not benefit in any way from the sales of the Silver Keisers. Max Keiser was quoted saying - "Bid Bullion has free use of my name and image for this.  I have no personal stake, or any business relationship at all with Bid Bullion in the creation and distribution of these coins.

The collective success we will all enjoy when the fiat money spinners and in particular JP Morgan are put out of business is good enough for me."

The Silver Keisers are currently being made at Northwest Territorial Mint, which is one of the most recognized and the largest private mint worldwide. The bullion will be available for delivery by the first week of January. Buyers interested in finding out more about the Silver Keiser bullion should place their orders in advance as these bullion are expected to sell out quickly due to early pre?order inquiries by bullion dealers and investors alike. For more information on the Silver Keiser, please visit www.SilverKeiser.com

For more information regarding Keiser’s “Crash JP Morgan, Buy Silver” campaign, please visit his website at: www.MaxKeiser.com.

[birther truther tenther]

http://www.silverkeiser.net/

WOW!

They are actually really fairly priced.  The 5 oz ROUNDS only have a $2 premium!!!

[agentbluescreen]

In tangential thoughts we wonder what comes next: the US mint issues Gold-Plated Tungsten Assanges?


For more information regarding Keiser’s “Crash JP Morgan, Buy Silver” campaign, please visit his website at: www.MaxKeiser.com.

I'd never buy a valueless commemorative coin that celebrates an anti-condom crusader, but a nice gold plated tungsten Bernanke would be prominently displayed and treasured greatly, by me.

As long as it doesn't have that phony, disgusting, FBI "Justice Will Prevail" bulls%it on the back

[Letsbereal]

JPMorgan cuts back on US silver futures
13 December 2010, by Jack Farchy in London and Gregory Meyer in New York (The Financial Times)
http://www.ft.com/cms/s/0/7d699ca4-06ea-11e0-8c29-00144feabdc0.html

Excerpt:

JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.

The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said.

The person added that the bank’s position in silver would from now on be “materially smaller” than in the past.

----

The price of silver has risen more than 70% since mid-August to hit a 30-year high of $30.68 a troy ounce last week on the back of a surge in investor buying and a rebound in industrial silver consumption.

----

Bart Chilton, a CFTC commissioner, said in October that he believed there had been “fraudulent efforts” to “deviously control” the silver price. He did not name any party.

Publicly available data on individual traders’ positions are sketchy. In a speech last Wednesday, Mr Chilton said that “earlier this year, one trader held more than 40% of the silver market”. He declined to identify the trader.

The CFTC’s Bank Participation Report shows that one or more US banks held a gross short silver futures position equal to 19.1% of the total number of outstanding contracts in early December.

In January the share was 30.2%.

----

Analysts and traders said that JPMorgan’s large short positions on New York’s Comex exchange, a division of Nymex, were hedges for the bank’s long positions in physical silver and London’s over-the-counter market.

JPMorgan has invested nearly $3bn over the past two years in its commodities business led by Blythe Masters.

[Letsbereal]

Silver is about to really blast off as the push to really hurt JPM takes off in earnest.
13 December 2010, by zh (InvestmentWatch)
http://investmentwatchblog.com/silver-is-about-to-really-blast-off-as-the-push-to-really-hurt-jpm-takes-off-in-earnest/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Investmentwatch+%28InvestmentWatch%29

Excerpt:

In the latest example that virtually every conspiracy theory is almost always inevitably proven to be fact, the Financial Times reports that JP Morgan, the firm targeted by thousands of “tin foil hat” wearing, conspiratorially-oriented “gold bugs”, has cut back on its US silver futures.

“JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.”

And in what can only be considered an unprecedented victory for all those who have over the past year agitated to putting JP Morgan out of business, most recently spearheded by the likes of Mike Krieger and Max Keiser, by forcing a massive short squeeze on its commodities trading desk, we learn that:

“the decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said.”

[Letsbereal]

MAJOR Silver Bullion Dealer admits: SHORTAGES and RATIONING!
http://www.youtube.com/watch?v=ukjOZq2INOM

[UK Lyn]

A Major Debunking attempt by Mish Shedlock....

My comments:  He doesn't address the reason (imho) for JPM suppressing silver.  They have been doing so effectively as a proxy for the governments of the USA/UK and the fiat system generally. They have known fiat money is toast, and have wanted to keep the masses away from real money for decades in advance.  If fiat dies, so does the fake debt and the massive controls over us.  No more unlimited printer cash to start wars and geo-politico-engineering campaigns any more.  So they had to suppress silver and keep it as one of the the archaic, 'industrial only' barbaric relics, probably even more so than gold itself..

So take Mish Shedlock's article with this in mind, he has been so disingenuous ignoring the above elephant in the room, as to constitute naked debunking in my opinion.

=========================================


Still More Hype Regarding Silver; Just the Math Ma'am



Hype regarding silver continues to go viral, and the Financial Times unexpectedly adds to that hype. The Financial Times reports JPMorgan cuts back on US silver futures

    JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.

    The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said. The person added that the bank’s position in silver would from now on be “materially smaller” than in the past.

A person "familiar with the matter" from where? JPMorgan, some hedge fund, who?

    JPMorgan said in a statement: “It is absolutely incorrect to say or imply that the Nymex, CFTC or any other exchange or regulator has instructed or asked us to reduce our position.” The bank declined to comment on whether it had reduced its position in the silver market.

On the basis of the above statement, I highly doubt the "person familiar with the matter" is from JPMorgan or if the statement alleging JPMorgan has reduced its short position is even true.

Just the Math Ma'am

It might help if people understood the math. In the futures world, for every long there is a short. A very important corollary is: If speculators do not want to close out their futures contracts, nothing but a rule change by the CFTC can force them.

In this case, (given speculators are net long) it is up to those longs to close their positions or take delivery. Otherwise, open interest (the number of open futures contracts) cannot drop.

For example, if JPM bought futures to close its short position (unless it was buying those futures from a willing seller already on the long side), open interest would not drop, and the silver conspiracy buffs would still bitch about the massive number of shorts (while hypocritically ignoring the equally massive number of longs)

Simple Questions

If JPM is hurting as the silver bulls claim, pray tell why does it not show up somewhere? Where is the proof JP Morgan is naked short silver?

To be fair, I do wish JPMorgan would comment on this. Why don't they?

Regardless, I happen to believe JPMorgan is not net short silver to any significant degree. They have various means of hedging including the simple provision of buying SLV or obtaining physical storage somewhere. Yes, I understand that SLV is "paper silver" but so are futures contracts.

The key question is: if JPMorgan is naked short and has been for years as conspiracy theorists claim, why didn't JPMorgan blow up long ago?

In an effort to be completely fair, let's ignore the obvious implications of that last question and assume the conspiracy theorists are correct. That leads to the next extremely important question.

How Should The CFTC React?

Since silver conspiracy advocates have all gathered round the campfire singing the praises of CFTC Commissioner Bart Chilton, there is a very simple solution.

Let's let Chilton specify the number of contracts it is OK for JPM to be short. It should be a reasonable number, certainly far less than the amount of silver in the world.

Let's also state that in any solution imposed by the CFTC, that speculators should have a limited influence on price in comparison to actual consumers of the metal (industrial users, jewelry, coin makers, etc). Thus, the CFTC would (and should) rule in accordance with the above sentence in the event of a serious market disruption (or in this case, to prevent a serious market disruption).

Having done that, we would then need a method to shrink open interest to the point specified by Chilton, in a manner that would either be market neutral or would give favoritism to producers and consumers of silver, not speculators (should one side need to be given preference).

The Hunt Solution

The easiest way for the CFTC to accomplish the silver conspiracy advocates' goal of eliminating the massive short position of JPM would be to up the margin maintenance on silver futures and not let anyone buy any more futures until open interest shrinks sufficiently.

Ring a bell? It should. If not, please consider Hunt's Attempt to Corner the Silver Market and how the story ended.

I am not proposing that solution, I am merely warning silver conspiracy advocates including Ted Butler and GATA that they better be careful about what they are asking.

In my opinion, if controls are placed, those controls WILL be on the long side (which of course will affect the short side) and everyone screaming for controls will get what they ask – forced long liquidation via inability to buy futures, only sell them.

Where Exactly Is The Conspiracy?

That speculators rally everyone hoping to produce a short squeeze that would destroy JPMorgan is itself a massive conspiracy, albeit a legal one. Moreover, the fact that huge numbers of co-conspirators accuse others of conspiracy is really quite humorous!

As a side note, most conspiracies are right out in the open, plain and easy for everyone to see (just as the conspiracy to sink JPMorgan is). The only difference between Hunt and what's happening today is the number of participants.

Does it matter though?

As I said in Viral Nonsense About Silver I highly doubt JPMorgan cares which way the price of silver goes. Otherwise, JPMorgan would have blown up long ago.

Many claim that JPMorgan's concentrated short in and of itself is manipulative. However, if JPMorgan is hedged, then it does not care which way the price goes. By extension, the price-suppression theory goes straight into the ashcan.

If JPMorgan does care to any great degree, then not only is JPMorgan in trouble, but so are speculators who will get hit in any solution imposed by the CFTC. Add that to the growing pile of ironies.

Capitulation Nonsense

The fact that gold and silver is going up does not prove that JPM is capitulating. Nor would declining open interest. Anyone who claims otherwise does not know how markets work or worse yet, ignores how markets work for the sake of openly promoting hype.

Assuming as I do that JPMorgan is hedged, there is no logical reason for JPMorgan to want to conspire to suppress the price of silver and gold. Quite frankly, the idea is completely potty.

If someone can prove JPMorgan is not hedged and is indeed getting killed in these markets, I reserve the right to change my opinion.

Ironies Stack Up

Properly hedged, JPMorgan would be just as likely to have an opportunity to gain by pushing the price higher rather than lower! If you are counting, that is the third big irony in these price-suppression claims.

The fourth irony, assuming that JPMorgan could and did suppress the price of something below its natural value, is that everyone should be happy, not bitching about the opportunity to buy something of value at a cheap price!

Not Defending JPMorgan

Please note that I am not defending JPMorgan per se. I do not care for the bank, and I certainly do not believe in too big to fail.

Would it surprise me in the least if JPMorgan took short-term opportunities to profit in both directions? Of course not. There is certainly no huge reason to think JPMorgan is an angel. Indeed, I am quite sure they are not an angel. Nor is Goldman Sachs, Citigroup, or any of the other market makers.

The key point however, is the silliness of the idea that JPMorgan or anyone else can suppress the price of anything over the long haul, decades in fact. The price-suppression for decades idea is not just silly, it's outright loony.

Again, I am not defending JPMorgan. I simply point out how the process must mathematically work and who will get hit if the CFTC does step in to rectify a market dislocation or to prevent one as the conspiracy advocates ask.

Be Careful of What You Wish

This is a definite case of "You better be careful of what you wish. You just might get it."

In distinct contrast to those openly seeking to halt alleged price suppression of silver and gold, my opinion is "As an owner of precious metals, if this is what price suppression does, let's have more of it, not beg the CFTC for a smackdown".

Disclosure

As a deflationist who believes Gold is Money (see Misconceptions about Gold for a discussion), I am long both silver and gold and have been for years. Moreover, I agree with Ted Butler and others who recommend that people take physical delivery when possible.

In that regard, I believe GoldMoney is a very good way, if not the best way, to own physical gold and silver. However, I am obliged to point out that I have a relationship with them.

Anyone interested in a discussion about ways to own physical gold and silver can email me via the "contact button" on the upper left of my blog.

Gold as a Deflation Hedge

Gold fares well in deflation and times of currency stress. Gold does poorly in times of ordinary inflation as evidenced by its collapse from 850 to 250 over the course of 20 years, with inflation every step of the way.

That gold is soaring in all currencies is certainly a sign of fiat-stress, not just the US dollar stress specifically.
 

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

[Letsbereal]

“JPMorgan has invested nearly $3bn over the past two years in its commodities business led by Blythe Masters.” FT says. So JP Morgan bought $1.5bn of copper that means:

JP MORGAN PUT HALF OF IT’S ENTIRE COMMODITIES POSITION IN COPPER !!!? That get’s you thinking, what’s happening here?


From: JPMorgan cuts back on US silver futures
http://forum.prisonplanet.com/index.php?topic=191915.msg1158310#msg1158310

[Letsbereal]

JP Morgan Bought $1.5bn of Copper “three times the size” needed for ETF
8 December 2010, by Emma Dunkley (IfaOnline.UK)
http://www.ifaonline.co.uk/etfm/news/1930931/copper-purchase-three-times-size-etf

[Letsbereal]

Shocking NIA Interview with Bill Murphy
http://www.youtube.com/watch?v=K-92A2rYoB0

[Letsbereal]

What The Silver Vigilantes Understand That You Probably Don’t (Arithmetic, Human Nature and other Stuff)
15 December 2010, by Mark McHugh (Across The Street)
http://acrossthestreetnet.wordpress.com/2010/12/15/what-the-silver-vigilantes-understand-that-you-probably-dont-arithmetic-human-nature-and/

Excerpt:

Sorry about the insulting headline, but every last shred of evidence I can find suggests that the most people remain utterly clueless about silver, despite the efforts of the silver vigilantes, led by Max Keiser and Mike Kreiger. Their brilliantly simple plan (go get some physical silver) promises to topple the criminally insane fraud that has become US economy. It doesn’t require politicians or regulators to lift a finger either, you simply take advantage of what is undoubtedly an artificially low price. I can completely understand anyone who is skeptical of that last statement; I’m sure you’ve been burned before, but that doesn’t mean you should stop seeking truth.  

Part 1. A little math.

I’m not sure when performing basic arithmetic made you a conspiracy theorist, but here we are.

The 2009 World’s population was about 6.8 Billion. According to the Silver Institute, total silver supply in 2009 was 889 million ounces. That means there was .13 ounces of silver produced for every human being on the planet.

That looks like this:

Yep, your fair share of Worldwide silver production is a little less than the silver content of two pre-1965 dimes. That’s all. A bargain at about four bucks when you consider the amazing properties of this element. FYI: World oil production per capita is 190 gallons.

This….

…represents more than ten years of  worldwide silver mining production divided by 2009 population. Less than $35, and hell of lot easier to transport than 7,600 quarts of Quaker State. Please note that so-called “World production” includes government sales and scrap. Government sales and “scrap” have accounted for more than 25% of “World Silver Production” from 2000 to 2009. I’m not sure I believe that one out of every four ounces of silver gets recycled, but understand that without that bonus production, demand exceeds supply by 37%.

Part 2. Who needs silver?

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Part 3. People lie…..

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Part 4. A little more math.

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Part 5. Other things you should know.

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Part 6. So what’s silver worth.

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(END)

[Letsbereal]

Buzz Word 2 – from Lindsey Willams on Silver:
http://forum.prisonplanet.com/index.php?topic=195346.msg1159234#msg1159234

“Comex Silver Exchange have only $107 miljoen ounces on hand but have gave out obligations in Silver paper to the amount of $720 miljoen ounces of Silver.”

Silver & Gold gonna explode in price says the elite.

[agentbluescreen]

ok.  Well now that we've all got a couple pounds of the stuff, let's hope he wasn't wrong. The thing I don't like about silver is it's tempting to give it away to your friends and their kids when you forget their birthdays.  

[Letsbereal]

Is the "Crash JP Morgan - Buy Silver" Campaign Actually Working?
http://www.youtube.com/watch?v=uewMulqkR7Y

[Letsbereal]

Moody’s ‘Threat’ Sends Gold, Silver Reeling
16 December 2010, by Rick Ackerman (Rick's Picks)
http://www.rickackerman.com/2010/12/moodys-threat-spooks-dollar-bears/

Excerpt:

Bullion prices seem likely to remain under pressure for the rest of the year now that Moody’s has trained its water hose on…Spain!  Yesterday, the ratings firm dithered its way into the headlines with a threat to downgrade Iberian debt.  Presumably, this was done at the behest of Geithner, Bernanke & Friends.  Regardless of who ordered the hit, it sufficed to touch off yet another headless-chicken scramble into the alleged “safety” of  the U.S. dollar. The timing of this conspiratorial boost to the buck suggests that the Plunge Protection Team is getting better at its job with each passing month. By our runes, the dollar was poised for a breakdown. Lo, just as the selloff begun on Monday was starting to snowball, the dollar whipped around and began a steep rally that was still in force at yesterday’s close.  If we’d stage-managed the turn ourselves using Hidden Pivots to time the announcement, we could not have picked a more opportune spot for Moody’s and its masters to spring a trap on dollar shorts.

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Dealing Off the Bottom

From a technical standpoint the Dollar Index, currently trading around 80.24, will become an odds-on bet to hit a minimum 82.23 by year’s end if it can blow past a “Hidden Pivot” resistance at 80.57 today or tomorrow.  But the target will become a virtual lock-up as far as we’re concerned if the Dollar Index closes above 80.57 for two consecutive days. That would equate to a rally of about 2.5%, and it would surely put some weight on gold and silver quotes. However, bullion investors should have become used to playing in a rigged game by now, especially when Europe’s problems are the distraction used to allow the likes of Moody’s to deal from the bottom of the deck. Such shenanigans may slow the rise of gold and silver for a short while, but if you look at where they were trading a year ago, or two years, or three years, or a decade, it becomes clear that market forces are prevailing over political muscle.

Source: Market Oracle

[Letsbereal]

I think silver & gold manipulators take advantage of the thin market right now to supress it down to the year’s end cause they know that a new year’s rally is coming when all the traders are back!

[Letsbereal]

Buzz Word 2 – from Lindsey Williams on Silver:
http://forum.prisonplanet.com/index.php?topic=195346.msg1159234#msg1159234

“Comex Silver Exchange have only $107 miljoen ounces on hand but have gave out obligations in Silver paper to the amount of $720 miljoen ounces of Silver.”

Silver & Gold gonna explode in price says the elite.

Lindsey Williams is not talki'n BS cause here it says:

"Comex silver inventory from Sep 2010 to today actually dropped by 3.5 million ounces of silver and is standing at 107.2 million ounces of silver."

From: Can Comex Deliver Silver And Gold in Dec 2010
30 November 2010, (AgAupm)
http://agaupm.com/can-comex-deliver-silver-and-gold-in-dec-2010/

Excerpt:

How much silver and gold are in fact waiting for a physical delivery in Dec 2010?

If no owner of Dec 2010 Silver Futures change his mind and don’t settle contracts for cash by the end of Dec 2010, then 17,208 contracts have to be delivered.

As a comparison, in last delivery month for silver in Sep 2010, this figure on a day before First Notice Day on Aug 30th 2010, was 3,002 contracts.

Since each contract is for 5,000 ounces of silver this means that Comex dealers should deliver by the end of Dec 2010 exactly 86.04 million ounces of PHYSICAL silver (compared to 2,519 contracts = 12.595 million ounces of silver delivered in Sep 2010).

So, in Dec 2010 almost 600% more silver (compared to Sep 2010), should be delivered by Comex dealers to buyers of silver futures.

And next delivery month for silver Mar 2011, has currently open interest for potential delivery of another 350 million ounces of silver.

As long as their’s enough physical silver, this shouldn’t be a problem BUT this is a problem since Comex silver inventory from Sep 2010 to today actually dropped by 3.5 million ounces of silver and is standing at 107.2 million ounces of silver.

Comex inventory of ready available silver in this same time actually dropped by 6 million ounces of silver and is currently standing at 48.4 million ounces of silver.

Now, talk about pain for Comex dealers, having ready to deliver 48.4 million ounces of silver and obligation to deliver 86.04 million ounces by the end of Dec 2010.

And how to deliver in Mar 2010 silver if buyers also refuse to accept cash, when current numbers for deliveries in Mar 2011 stand at 350 million ounces of silver?!?

In gold, things also don’t look nice.

Comex dealers should deliver by the end of Dec 2010 around 5.9 million ounces of gold but their gold inventory is at 11.45 million ounces and actually ready to deliver gold only at 2.6 million ounces of gold.

Next delivery month for gold is Feb 2011 and currently open interest is at 31.6 million ounces of gold.

Just having to deliver this much gold and silver should cause price of gold and silver go up – without forcing regulatory institutions like CFTC to finally do their work and force this manipulators to cover their paper short positions in gold and silver.

Have you maybe also checked number of silver and gold that will be delivered on Dec 1st 2010?

Comex dealers will deliver on Dec 1st 2010 over 500,000 ounces of gold (around 10% of amount required to deliver in Dec 2010) BUT only 280,000 ounces (around 0.3%).

Around 60% of this first delivery of physical silver will go to…

…what a shocker JP Morgan – a bank that owns more than 40% of all paper silver shorts AND that also lose over $3 billion every time price of silver goes up by $1.

All this info are freely available – you just need to use a bit of your brains to analyze this info and come to logical conclusions for predicting where all this leads.

Ahhh, can’t stress enough importance of holding PHYSICAL silver and gold in current times.

[Letsbereal]

Silver News Explodes; JP Morgan Admits Guilt! - (JP Morgan admits they are short silver!)
15 December 2010, by Jason Hommel (Silver Stock Report)
http://silverstockreport.com/2010/jp-morgan-silver-short.html

Excerpt:

JP Morgan admits guilt, admits being short silver, admits to wanting to buy back silver to cover their short positions, to appease guys like us on the internet! This is astounding!

It appears to me that the righteous are gutting the evil, and that only a few handful have the most powerful people in the world on the ropes, as if Bible Prophecy were being fulfilled here:

Leviticus 26:8 NIV: Five of you will chase a hundred, and a hundred of you will chase ten thousand, and your enemies will fall by the sword before you.

But getting back to JP Morgan on the run, we've seen this kind of corporate behavior before. It took years after the time that Barrick Gold first admitted they wanted to cover their short gold position, and until when they finally covered their gold shorts -- but they never really covered, they simply sold their short position back to the bankers like JP Morgan.  

Similarly, it could be years, if not decades, for JP Morgan to unwind their silver shorts, and this is no exaggeration. True, JP Morgan can cover by giving paper money settlements, or settle some via SLV shares, or close out positions by not buying silver, but if they do, their clients who wish to be long silver, will then likely start scrambling for physical silver, which should start to happen anyway, just on this news announcement.  

The main points that many commentators and news journalists continue to ignore, is that the silver does not just trade on COMEX, it trades much more in London, "over the counter", where nobody can take delivery without paying a 17.5% Value Added Tax, which prevents nearly everyone from taking delivery! What a scam! No news commentators seem to acknowledge this VAT London silver tax yet. http://en.wikipedia.org/wiki/Silver_as_an_investment#Taxation

The London LBMA market is a part of the BIS report from the Bank of International Settlements, which mentions a total notional value of "over the counter" "other precious metals" as $127 billion.  No major news outlet has even acknowledged or analyzed the BIS report yet.  It's right here: http://www.bis.org/statistics/otcder/dt21c22a.pdf

We charge a mere 4 to 6.5% over spot: 4% over spot for US 90% silver coinage, and 6.5% over spot for 1 oz. newly manufactured rounds!  

WE SELL SILVER FOR DELIVERY ABOUT 10% CHEAPER THAN JP MORGAN IN LONDON!  WHERE IS THE BILLIONS OF DOLLARS TRYING TO BUY SILVER FROM US?

AND WE SELL IT FOR IMMEDIATE DELIVERY WITH NO EXTRA CHARGE TO ANYWHERE IN THE USA!

[Letsbereal]

Gold-dispensing ATM Debuts in South Florida
17 December 2010, (Associated Press)
http://www.youtube.com/watch?v=gzb4uQZ9kyc

Now a mall in super luxe Boca Raton, Florida, is the first in the U.S. to have a gold dispensing machine. (Dec. 17)

[Letsbereal]

HARVEY ORGAN : Criminal Bankers VS Silver & Gold Vigilantes - PART 1
http://www.youtube.com/watch?v=B7eRwW34j1g

HARVEY ORGAN : Hyperinflation, Backwardation & 1 To 1 Silver To Gold
http://www.youtube.com/watch?v=fJPbwnW1z6Y

[Letsbereal]

A Ton Of Silver Bullion Coins And Bars
http://www.youtube.com/watch?v=5Pjg6un1yVA

[Letsbereal]

John Embry: Gold, silver could go ballistic by year-end
19 December 2010, by John Embry (Investors Digest of Canada) 
PDF http://www.sprott.com/Docs/InvestorsDigest/2010/MPLID_112610_pg401Emb.pdf

Source: http://www.gata.org/node/9435

[Letsbereal]

NEWSFLASH!! UK Daily Mail says 'Buy silver bullion for your kids for Xmas!' Yes!
http://www.youtube.com/watch?v=lgGqq2VpRgc

Toys? Savings will give you much more to play with
18 December 2010, by Stephen Womack (Daily Mail)
http://www.dailymail.co.uk/money/article-1339820/Toys-Savings-play-with.html

[Letsbereal]

Physical Silver Shortages?
http://www.youtube.com/watch?v=Q4LtwPzBH5E

[mr anderson]

Physical Silver Shortages?
http://www.youtube.com/watch?v=Q4LtwPzBH5E

Local chap 

Hopefully in the future we can get an interview