rumor: A Major Sovereign Nation Central Bank is accumulating silver as reserve asset

[Large Sarge]

just a rumor at this point.....



http://silverdoctors.blogspot.com/2011/08/wynter-benton-central-bank-annoucement.html


Wynter Benton: Central Bank Annoucement on Accumulating Silver as a Reserve Asset Imminent!
While the silver community is divided as to the legitimacy of the Wynter Benton group (ex-JP Morgan traders fired by Blythe in July of 2010 looking to now destroy JPM using their own naked silver shorts), the latest Wynter Benton message posted today is such a dramatic game changer if true, that we felt we must post it.

The Wynter Benton group alleges that a major sovereign central bank has been accumulating physical silver as a reserve asset and will soon publicly announce this fact.

Confirmation of the remonetization of silver by CENTRAL BANKS could well thrust a final dagger into the heart of the cartel.

If true, The Doc's $70 silver target for the end of 2011 may well end up being humorously low.

Perhaps this explains silver's nearly $2.50 jump today to $41.27?




Silver will soon be a reserve asset for a sovereign central bank


The Leader wishes to inform his readers that a sovereign central bank will soon announce that it is accumulating silver as a reserve asset.

Also he is advising those who have participated so successfully in the latest gold run to shift their entire focus to the silver market.

As to Jes Staley, The Leader will give his reply at the appropriate moment.

You're going home in a body bag, do da, do da.....
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_J/threadview?bn=10073&tid=402940&mid=402940
Posted by The Doc at 3:42 PM Email This
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[DMac]

7 page thread on kitco talking about this,

https://www.kitcomm.com/showthread.php?t=90894&page=7

I caught an interesting pic there:
http://i108.photobucket.com/albums/n5/Stormdancer_photos/SilverInstituteSupplyandDemand2010.png

[Large Sarge]

its HUGE NEWS if its true.

it essentially "remonetizes" silver in the eyes of the world....

and central banks, with their printing presses, have deep pockets to buy that stuff

[DMac]

China or Mexico.

Remember the rumor that China had a massive silver short, as a method to accumulate more?

Could be.

Mexico has a huge amount of silver so they are also a possibility.

[Large Sarge]

maybe its someone who got burned with tungsten gold bars, deciding to play in a different sand box.....?

[mamboni]

China or Mexico.

Remember the rumor that China had a massive silver short, as a method to accumulate more?

Could be.

Mexico has a huge amount of silver so they are also a possibility.

Yep, Mexico or China most likely. But silver is a poor choice for monetization IMHO: it is far to scarce and price-volatile to provide a stable backing. Gold is far superior to silver in this regard.

[Large Sarge]

What is more price stable, a pile of FIAT dollars or a pile of silver bullion?

comparing apples to oranges....

[ximmy]

Yep, Mexico or China most likely. But silver is a poor choice for monetization IMHO: it is far to scarce and price-volatile to provide a stable backing. Gold is far superior to silver in this regard.


Why can't you use both?

[Large Sarge]

remember the article on pakalert, a few days ago

"china's secret financial weapon"

could it be this?

[mamboni]

Why can't you use both?

Silver is an industrial commodity and it's total per capita reserves are a small fraction of what they were 100 years ago. It's price fluctuates as a function of supply and demand and deficits. A silver coin of the realm would get horded the second the open market price exceeded the melt value. I recall certain members of GIM criticizing von Nothaus for the "excessive" segnorage on his Liberty [silver] dollars. Now, those same coins are worth more than twice their face value! The advantage of gold over silver vis-a-vis backing of currency is that the stores of gold are far larger than silver and are extremely stable, increasing only 1-2% per annum. The same cannot be said for silver.

[Large Sarge]

hugo salinas price solved that partially, he wanted to monetize silver, and it would stay at the highest price to date (since introduction to the economy), his theory is, that this would in part thwart greshams law....

causing the now more face valuable silver to circulate (at least it would on big dips)

[Large Sarge]

so how long until the central bank comes out?

early next week?

let the bernanke speech settle in maybe?

[Cebu_4_2]

so how long until the central bank comes out?

early next week?

let the bernanke speech settle in maybe?

Hurricane Irene...

[Serpo]

My bet its Mexico..........

[Plastic]

Both gold and silver could easily circulate as long as no face value was stamped on them, in the information age the value of the coins could be updated by the minute.

[JohnQPublic]

Both gold and silver could easily circulate as long as no face value was stamped on them, in the information age the value of the coins could be updated by the minute.

Two units of money- silver ozt. and gold gram. At 35:1 they are about equal.

[Serpo]

Central banks dont have any silver in the vaults only gold.This is a major reason they dont like silver..........now silver is worth more than gold was when it was 35$.
This may come back to haunt these banks.

[osoab]

Central banks dont have any silver in the vaults only gold.This is a major reason they dont like silver..........now silver is worth more than gold was when it was 35$.
This may come back to haunt these banks.


India has found a few small hoards in the last year or so.

Who knows what is held off balance sheet or what have been spoils of illegitimate wars?



Do they show the silver when this happens? You know registered good delivery bars. I'll hold all judgment until this happens.

The end of the post was odd by Benton.


As to Jes Staley, The Leader will give his reply at the appropriate moment.

You're going home in a body bag, do da, do da.....

Their post on Aug 7 had the same exact same line at the end.

The Jes Staley name also popped up in the Aug 7 post too.

Anyone guessing at any code behind the posts?