Originally Posted by
1970 silver art
That is true gundriller. While IMO they are gradually losing control over gold and silver, The manipulators can still basically do what they want with the gold and silver markets. If the manipulators want to bring the prices down by a lot, then they can probably do so with their naked short selling. As long as JPM and others can still naked short sell gold and silver, then both of those metals will still be held hostage by these organizations. They will lose complete control eventually IMO but the only problem is that I do not know when eventually will come. The long term negative fundamentals of the dollar and the long term negative fundamentals of the financial state of the U.S. Gov't (i.e. massive Federal deficits and rapidly increasing national debt) will eventually overwhelm the manipulators and gold and silver will break free and start to go way up while the U.S. dollar will continue to go down.
I still don't understand why no-one calls the bluff. As it was described in the original webcast with Andrew Maguire & Adrian Douglas, the other side of the trade that the market manipulators are playing is a guaranteed money-maker - until JPMorgan defaults, if JPMorgan is unable to back their short positions with physical.
They way they talk of it in the webcast ("billions, trillions"), it sounds like you would need $100 billion to $500 billion to take the other side (long silver & gold, short dollars) of the JP Morgan trade (short silver & gold, long dollars).
With new investment vehicles like the Sprott Physical Trusts, it seems like more investors are learning to demand physical.
And from Harvey Organ's blog, it sounds like Comex' bullsh*t is beginning to break under its weight.
I guess when it does break, I will be surprised that it took so long.
Perhaps there have been similar instances in the past.
I guess all those central bank gold sales, which are basically bank bail-outs (as well as an opportunity for the Chosen Ones to load up on gold cheap), of the past, including the bail-out of LTCM (who had a 400 ton naked short gold position), are examples. The bank with the short has a problem, and then the central bank bails them out with some cheap gold.
But that only works for so long. As far as I can tell, the central banks are running out of gold to bail crooks out with.