Silver surge prompts conspiracy theorists - FT.com

[PatColo]

This 4/21 FT story is here (http://www.ft.com/cms/s/0/e67b2550-6bf3-11e0-b36e-00144feab49a.html#axzz1KDjJu1UD), found it ref'd in this story at goldseek, author attributed (sort of?!) to Mark O'Byrne of "GoldCore"- there is much more in the following article, other stories ref'd, but no mention of JP Morgan; could be a variation of disinfo, esp the overall useless FT article, isn't FT a rothschild rag? :

Silver Surges Over $46.25/oz as Rumours of a Short Squeeze and Cornering Market Gain Credence; Speculators Smell Blood (http://news.goldseek.com/GoldSeek/1303392419.php)

[keehah]

Seems spun to blame an 'illegal' large long or two pressuring the 'normal business' of 'Wall Street Banks.'

So they'll 'get that long' and silver will crash, or butter up for future sympathy for a bail out of the Wall Street Banks that were short silver.

The article never mentions concern about the US dollar bubble (or any western fiat) as a factor in the metals rise. ;D

[Ponce]

The keep on talking about the reason for the silver increase in price but not for the reason behind the reason or what initiated the whole thing... banks are going back to the PM standars......otherwise, why would they want silver? you cannot eat it........in order to make money you must follow the money.

[Uncle Salty]

They fail to mention the true conspiracy of the Treasury, The Fed, and Wall Street to suppress the price of silver and gold for the last 30 years and the fact that they can no longer do that and silver and gold are now correcting up to their true unsuppressed value.

What a stupid article. Total misdirection. Total hit piece.

They should be stabbed in the dick.

[PatColo]

agreed to all above, it's disinfo by omission & misdirection, "Mr. Nobody", perhaps a nameless shadowy billionaire or two, everything but the root. And yes, implied victimhood of the virtuous & fair system, by these shadowy bad actors... when all the "bad acting" is on FT & Co's part, the "source" of the "we're victims!" chutzpah-maneuvering; running cover for their bosses' global mega-racket of fiat created from nothing and loaned out at compounding interest... the Global Usury Empire (http://gold-silver.us/forum/general-discussion/the-zionist-elephant-in-the-room/msg2940/#msg2940).

[keehah]

Bob Chapman just after hour 2 of the Alex Jones today was commenting that JPM and HSBC needing about a 130 billion bailout from the US government to end their decade(s) of criminally manipulating the paper silver precious metals market .

And this would not be the first bailout of silver shorts, just moving the cost of deception towards the public.
http://www.marketwatch.com/Community/groups/small-silver-investor/topics/jp-morgans-silver-shorts-subtitle

Says this could happen around $58 and even with a bailout, the outrage in the public as it learns of the shenanigans, could kill the paper markets, or at least separate it in a big way from the physical markets.

There should then be another leap to $75-$80 for physical sales.

_____________
Edit- from the '892 days ago' article linked above:

I think the data in the COT and the Bank Participation Reports indicate that the U.S. Government may have bailed out the biggest COMEX silver short by arranging for a U.S. bank to take over their position. This coincides with JP Morgan’s takeover of Bear Stearns. In fact, it would not surprise me if the bailout was JP Morgan taking over Bear Stearns‘ short silver position, at the government‘s request. While this silver bailout (if it happened) was no doubt undertaken with financial system stability in mind, it has disturbing implications of legality and equity"

[Awoke]

silver and gold are now correcting up to their true unsuppressed value.



I think they have a long way to go yet....

[Serpo]

Bob Chapman just after hour 2 of the Alex Jones today was commenting that JPM and HSBC needing about a 130 billion bailout from the US government to end their decade(s) of criminally manipulating the paper silver precious metals market .

And this would not be the first bailout of silver shorts, just moving the cost of deception towards the public.
http://www.marketwatch.com/Community/groups/small-silver-investor/topics/jp-morgans-silver-shorts-subtitle

Says this could happen around $58 and even with a bailout, the outrage in the public as it learns of the shenanigans, could kill the paper markets, or at least separate it in a big way from the physical markets.

There should then be another leap to $75-$80 for physical sales.





From the article...

I’m sure the motive behind the illegal transfer of the silver short position was the mistaken assumption by Treasury that an explosion in the price of silver (and gold) would threaten overall financial stability. Well guess what - they succeeded in crushing the price of gold and silver, but to no avail, as financial stability has been shattered. ....what idiots



JP Morgan was not just an accommodative good corporate citizen in the illegal transfer of the manipulative silver (and gold) COMEX short position. In addition to undisclosed government guarantees against loss, JP Morgan was given free reign to liquidate the COMEX short position at their discretion, knowing full-well the regulators would look the other way, no matter what dirty tricks were necessary to cause the price to collapse. Nor was JP Morgan a neutral agent in the silver price collapse. Data from the Office of the Comptroller of the Currency (OCC) http://www.occ.gov/deriv/deriv.htm indicates that JP Morgan held a much larger Over The Counter (OTC) derivatives position in silver and gold than was transferred to them from Bear Stearns.

My analysis shows that Morgan has made many billions of dollars, perhaps tens of billions, from their downward engineering of silver and gold prices from their combined COMEX and OTC short positions. They have used that engineered price decline to buy back as many short positions as possible. If investors are wondering what caused the destruction of billions of dollars in gold and silver values, metal and share price alike, look no further than JP Morgan, and the government officials who enabled them......jerks


As bad as this is, it gets worse. The downward manipulation of the price of silver, initiated by the U.S. Treasury, undertaken by JP Morgan Chase and sanctioned and aided by the CFTC and the CME Group has proven so successful in destroying investment values that the low price of silver is now threatening to destroy tens of thousands of jobs of those who mine silver for a living, here in the US and throughout the world. Who do these people think they are that they can allow the artificial paper price to alter real supply/demand fundamentals? Those in charge of enforcing the law have enriched a few sleazy bankers who trade toxic paper derivatives at the expense of tens of thousands of innocent investors and now ordinary workers. This should make your blood boil...it does

[Horn]

There's enough scandal here to create silver as a controlled substance only available thru prescription. :o

[Ponce]

You must have your own "spy" system where you gather your own information and pass judgement as to what you want to do according to your findings........"Only a sheep will follow a sheep"... ;D

[cthulu]

Come on 2008! I need a few more white hairs. :lol

[Glass]

It is impossible to say if there is even a grain of truth in any of these tales. While some traders are taking them seriously, others believe the rise in prices is perfectly well explained by very strong, inelastic industrial demand plus extremely high retail demand in the US, India and China.


Comments like this crack me up. It's the usual "journalistic" mechanism. The "some people say" statement.
http://www.youtube.com/watch?v=NYA9ufivbDw

Translation: I made some shit up... called a lie.

People comprehend it as, Some people said it, so they must have and that guys on tv so it must be true.



One explanation for why the silver market is confusing to many bankers and traders may be that they typically deal with large investors and so see little of the flow to retail investors and industrial consumers.


This one nailed it. Yes they don't know what the physical market is doing because they don't deal in that market. They deal only in synthetics.

Personally if there was one country or "state" as they put it that I'd blame for the cornering of the silver market it would be Iceland. IT has to be them. Some people have said that you know.