Large Sarge
10th September 2013, 04:45 PM
ALERT: Secret Silver Hedging By US Mint EXPOSED and HSBC potentially Defaulting on COMEX Silver Deliveries!
Bix Weir
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Wow! I have been jumping up and down for years that the US Mint is in bed with the silver market riggers and now we finally have PROOF! Mike Maloney & Christian Garcia expose the US Mint as "hedging" their silver flow through entities that are rigging the silver market!! In this case HSBC. This hedging position also coincides with the introduction of SLV which further clouds the mess!!
Now that it was admitted that the US Mint hedges through HSBC the questions can be asked. Like why is the largest silver purchaser in the world trying to control the price of silver when their only mandate is to supply silver Eagles "in quantities sufficient to meet demand"? Is HSBC living up to it's obligations in those hedges when the US Mint is unable to source physical silver at times of high demand?! What good is a silver hedge if you can't call for delivery when you need the metal which apparently the US Mint cannot do? Has HSBC's relationship with the US Mint been replaced by another large silver rigger like JP Morgan or Citibank with their newly aquired $9B silver derivative position?
It is clear the the US Mint is knee deep in with the silver market riggers which flies directly in the face of US Law: 31USC5112(e) which was introduced by Barney Frank way back in 1987 in order to get silver into the hands of the American population. The FACT that the Mint continually runs out of silver inventory even though they are legally obligated to go into the market and outbid any other bidders is a blatant disregard for the law as I wrote here:
The US Mint Must Pay More for Silver...by law!
http://www.roadtoroota.com/public/536.cfm
But now we learn that the Mint is buying/hedging COMEX Silver contracts through HSBC when an order is placed to lock in the price but they are still not getting the physical metal when it is needed...thus SUPPRESSING THE REAL FAIR MARKET VALUE OF SILVER!
The US Mint is required by LAW to buy REAL silver for the Silver Eagle Program "in quantities sufficient to meet demand" and should NOT be assisting in the manipulation of the silver price by playing in the futures and options markets.
On top of all that the US Mint has clearly NOT been straight forward with this silver hedging arrangement and it stinks of cover-up.
Stay tuned as this debacle unfolds.
May the Road you choose be the Right Road.
Bix Weir
www.RoadtoRoota.com
Bix Weir
Printer-Friendly Format
Wow! I have been jumping up and down for years that the US Mint is in bed with the silver market riggers and now we finally have PROOF! Mike Maloney & Christian Garcia expose the US Mint as "hedging" their silver flow through entities that are rigging the silver market!! In this case HSBC. This hedging position also coincides with the introduction of SLV which further clouds the mess!!
Now that it was admitted that the US Mint hedges through HSBC the questions can be asked. Like why is the largest silver purchaser in the world trying to control the price of silver when their only mandate is to supply silver Eagles "in quantities sufficient to meet demand"? Is HSBC living up to it's obligations in those hedges when the US Mint is unable to source physical silver at times of high demand?! What good is a silver hedge if you can't call for delivery when you need the metal which apparently the US Mint cannot do? Has HSBC's relationship with the US Mint been replaced by another large silver rigger like JP Morgan or Citibank with their newly aquired $9B silver derivative position?
It is clear the the US Mint is knee deep in with the silver market riggers which flies directly in the face of US Law: 31USC5112(e) which was introduced by Barney Frank way back in 1987 in order to get silver into the hands of the American population. The FACT that the Mint continually runs out of silver inventory even though they are legally obligated to go into the market and outbid any other bidders is a blatant disregard for the law as I wrote here:
The US Mint Must Pay More for Silver...by law!
http://www.roadtoroota.com/public/536.cfm
But now we learn that the Mint is buying/hedging COMEX Silver contracts through HSBC when an order is placed to lock in the price but they are still not getting the physical metal when it is needed...thus SUPPRESSING THE REAL FAIR MARKET VALUE OF SILVER!
The US Mint is required by LAW to buy REAL silver for the Silver Eagle Program "in quantities sufficient to meet demand" and should NOT be assisting in the manipulation of the silver price by playing in the futures and options markets.
On top of all that the US Mint has clearly NOT been straight forward with this silver hedging arrangement and it stinks of cover-up.
Stay tuned as this debacle unfolds.
May the Road you choose be the Right Road.
Bix Weir
www.RoadtoRoota.com