Silver 12 Cents Away From Post Hunt Brothers Closing High

[stomy]

Now that we know that JPM had a statistically impossible 97% win track record in 2010, we can't help but drool in jealousy. However, we wouldn't be doing our journalistic duty if we didn't inquire just how much did JPM brush under the rug on their underwater gold and silver short exposure, and whether or not Blythe Masters' bank is even accounting under GAAP for the now documented price suppression scheme? After all, Blythe is the master brain behind such no margin "bearish exposure" products as CDS - it would be only logical that she discovered some way to make her massive paper silver short carried on the books at a minute fraction of gross notional exposure. Furthermore, it is no wonder that today Gary Gensler demanded a pound of flesh for his kickbacks to the banker lobby which allowed JPM to be grandfathered in with their huge short positions (claiming the CFTC would need to fire hundreds of worthless staffers if the corrupt agency's 2011 budget wasn't lifted, despite O'Malia's protest). We ask all this because despite all the unprecedented manipulation: the close banging, the paper shorts, the AM-PM session divergence, silver is now at $30.80, and is just 12 cents away from its post-Hunt Brothers record close, which was printed on New Year's Day at $30.92.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/von%20havenstein/SILV%202.14.jpg

Source: http://www.zerohedge.com/article/silver-12-cents-away-post-hunt-brothers-closing-high

[Chuck]

Thanks stomy. There might be a good chance that we'll see it back in the $50 range of the early 80s by the end of the year.

[mgray]

I have been in gold and silver since September of 2008. Pre-Lehman and have seen a nice run up. But yesterday's moves were really quite impressive.
The CFTC, which is the regulator here in the states of commodity trading, said yesterday that it would be raising margin requirements on silver and gold purchases.
And yet both precious metals had huge upside moves. Silver up 2.9%. There is something afoot.
The EU in order to save the euro said yesterday that it was considering a rate hike, which reversed a big move in the troubled currency.
The EU is in no shape to raise rates between now and 2013 simply because the troubled countries will sink further down the rabbit hole of debt service.
As the G20 meets and Bernanke says don't blame me for the revolutions in north Africa and the Persian and Arabian gulfs, silver and gold are zooming.
A true test of the PMs is when and if Bernanke begins hinting about QE3 being changed to buying troubled mortgage loans and paper from the banks.
Stock market will tank, Treasuries will rise, but what happens to PMs? That's my big quandary.

[eaglespirit]

...watchin' this barometer!!!

good thread and update, thanks!

[Northern Boy]

silver is going to drop in price soon

[mgray]

silver is going to drop in price soon

The global equity markets will drop in price soon. Eventually we will both be right, but what are you basing you prognostication on? Silver hit $34.05 in an intra-day high. There are tight supplies and futures market is in backwardation, both technical signs of a rising market.

[Northern Boy]

it will drop to between 26 / 27 before climbing again
gold may stumble a bit



http://www.youtube.com/watch?v=ehuWpA6Lzjk

[Lost Soul]

$34.25 right now.

[Murray]

Gold $2,300, Silver $150 and Looming Stock Market Crash
http://www.marketoracle.co.uk/Article26494.html

[eaglespirit]

http://www.kitco.com/market/

[Calz]

by *no means* an expert but I traded futures for several years.

it is really meaningless to chart any commodity (gold, silver or whatever) without the corresponding value of the dollar.

as an example that hits home ... GAS rises so much per gallon ... okay ... what did the value of the dollar do in the meanwhile ... pretty much the same %.

you think the middle east turmoil REALLY has an impact???

have a laugh my friends ... experience "the plan" and "welcome to the matrix".

many things happening that I have no clue or resource for.

will throw out a possibility ... nothing of value now will have value in the near future.

forgive me ... this would be a spiritual type response to a financial situation.

[eaglespirit]

... this would be a spiritual type response to a financial situation.

...and so it is ! ...coming very, very soon !

[Chuck]

Indeed, every man made material item will have zero value in the future. Our planet's garbage dumps, ruins and ancient tales of fantastic empires are testaments to that. And so it is concerning the American dollar.

The key for us mere mortals during transitionary periods is to survive and prosper during such changes. I am convinced that the dollar's position as world's reserve currency is being de-throned. The trillions of dollars being created out of thin air in recent years, the massive debt of both state and federal governments without any chance of paying it back (even if every american were taxed at 100%) are making it very unattractive for any foreign country to not only continue to buy dollars but to keep the dollar reserves they have. As a result, many are purchasing oil in non US dollars. The new arab regimes will likely sell their oil in the new currency system.

This is not good news for America. If a new system of world reserve currency takes place over night, the value of the dollar gets eroded immediately. American reliance on cheap oil (cheap gasoline) relative to the rest of the world, changes instantly. Massive inflation is imminent.

I recommend to buy food, buy heirloom seeds and if you can, buy silver! It will have larger proportional returns than gold. Historically gold/silver ratio is 16:1. At todays price of gold of $1415/oz, historically should make the price of silver to be at $88/oz. At gold $2,000/oz, (which many are predicting for short term), makes silver at $125/oz! (today it sells for $34/oz)

I trust that if a new financial system is initiated, that it is created with integrity, honor and prosperity in the long run for every soul on this planet. I pray that any potential chaos of short term pain during transition is minimized. Perhaps owning a little silver and gold may make the transition easier.

[eaglespirit]

http://www.kitco.com/market/


^^^up^^^swing!!!

[sleepydumpling]

I bought silver 1 ounce coins back in 2004/2005 i followed my intuition plus is was well undervalued.
I would have bought gold but could not afford it .
There is a book called extraordinary popular delusions and the madness of crowds by Charles McKay
written in 1852.
the first few chapters go on about the south sea bubble, the Mississippi scheme and tulip mania and it is
a good read. it made me realize how little human nature has changed concerning finance.
IMHO precious metals have a lot further to go yet even though there will be pull backs
also when a pull back in price occurs in metals , i take that as a chance to buy some more.
i would not have thought they are in a bubble yet, that normally happens when the vast majority gets in on it
like the dot com boom and housing. Plus massive manipulation by banksters
this is just my opinion on it and just thought i would share it
have a great day everyone

[eaglespirit]

http://www.kitco.com/market/

the barometer is speaking to us

http://cdn.explainthatstuff.com/torricellianbarometer.gif

[Chuck]

Silver "Scorched Earth" and The END of Market Manipulation
by Bix Weir

http://www.roadtoroota.com/public/525.cfm

On March 11, 2009, which turned out to be the bottom of the last financial meltdown, I wrote an article exposing a plan by the US monetary authorities to fake the recovery of our economic system in order to reverse the continued downward spiral of our markets...

Operation Confidence Con

http://www.roadtoroota.com/public/149.cfm

After listening to the "puppeteers" talk about how the rebound was sustained and how we had "turned the corner" I came to the conclusion that they were going to pump the markets with everything they had using computer market rigging programs. A few days later I wrote another article explaining that THIS officially sanctioned manipulation would be much larger and much longer than those in the past:

The Geithner Plan = Sustained Manipulation

http://www.roadtoroota.com/public/150.cfm

Was it luck that I called the EXACT bottom of the crash and ever sense the "free markets" have been on a rip-roaring orgy? No. It wasn't luck. I just listened to what was being said by those who HAVE total and complete control of our markets.

To understand how difficult it was for me to predict that the markets would rise up from the ashes you must understand that I had been one of those screaming from the top of my lungs that the sky was falling... for YEARS! Publishing these two articles hurt more than I can even tell you but the signs were OBVIOUS in retrospect.

That was then....this is NOW! We are about to hit the TWO YEAR ANNIVERSARY of this US sanctioned market manipulation but...

NOW THE SIGNS ARE POINTING TO THE END OF MARKET MANIPULATION!

The way I see it, the banking cabal and friends were given TWO FULL YEARS to work their way out of this mess before the official manipulation spigots would be turned off for good. EVERYTHING I follow is lining up perfectly for the final destruction of our global monetary system in the next few months...and THIS TIME there is no escape for the banking cabal!

If I had a checklist of things necessary to "finish the job" of taking down the global banking powers that was started in 2008 it would be the following:

1) End the manipulation of the gold and silver markets by taking possession of the physical metal thus destroying the paper metal Ponzi schemes.

2) Crash the stock market and blame it again on the greed of the Banksters.

3) Raise the prices of everything necessary to live in order to increase the anger towards the philosophy of printing money at will.

4) Refuse to fund the ongoing budget deficit (or paying the interest) thus crashing the US Dollar.

5) Continue to condone the payout of huge bankster bonuses to raise the hatred towards the Wall Street criminals.

6) Introduce state and local government austerity measures so WE THE PEOPLE will rise up and fight together.

7) Turn the population against "saving the system" the next time there is a banking collapse.

That has been my "Road Map" for a while now and many of the above are already beginning to take place.

So what are the Bad Guys doing to counteract this take down?

IT ALL COMES DOWN TO SILVER...

Are The Silver Manipulators Playing The "Too Big To Fail" Card?

Last Friday the CFTC released their monthly Bank Participation Report (BPR) which revealed a startling statistic. After 3 months of desperately trying to cover their gigantic short position the US Banks that control the price of silver decided to go back to their reckless shorting routine...BY A HUGE AMOUNT! Here's the numbers and the link to the CFTC BPR postings:

http://www.cftc.gov/MarketReports/BankParticipationReports/index.htm

11/2/10 = 30,760

12/7/10 = 26,332

1/4/11 = 22,658

2/1/11 = 19,706

Over the last 3 months it really looked like they were trying to close out their gigantic short position before the Position Limit Rule goes into effect on March 28, 2011. That was until the latest BPR was posted. Just look at the increase in the US Bank silver short position...

3/1/11 = 25,586

IT GREW BY 5,880 CONTRACTS OR CLOSE TO 30M OUNCES!

That is a STUNNING amount of new shorts added during the month of February when the price of silver actually managed to RISE 25%. It is important to understand that IF these new shorts were not placed on COMEX silver then THE PRICE WOULD HAVE EXPLODED TO OVER $50 OR EVEN $100 PER OUNCE!

This was clearly a short designed to keep a lid on the price of silver.

Here's why I think this happened:

- The CFTC is FINALLY getting serious about enforcing the commodity laws and the US Banks know it.

- Although the US Banks tried to close out their 150M ounce short position THEY COULD NOT DO IT IN TIME.

- Once they saw that they couldn't sucker any more sellers they had to crank up their shorts to stop the price of silver from going parabolic.

- Now they are TRAPPED with NO WAY to cover their short position before the 28th DEADLINE so...

THEY HAVE DECIDED ON A "SCORCHED EARTH" SILVER SHORTING STRATEGY BY INCREASING THE SIZE OF THEIR SHORT SO MUCH THAT THEY BECOME...TOO BIG TO FAIL IN THE SILVER MARKET!

It is a way to protect themselves from the inevitable default in the COMEX silver market. Clearly a skyrocketing silver price would destroy the US Bank short position. "Too Big To Fail" will have to come into play in both the implementation of position limits as well as potentially deflecting the BLAME onto the CFTC and Dodd-Frank Law for TOO MUCH REGULATION.

They could even try to BLAME the destruction of the global monetary system on those "greedy silver bugs" who only care about themselves!

These US Banks know the silver manipulation game is over as the rest of the investment world has finally come to the understanding that there IS manipulation in the silver markets. On Wall Street when there is blood in the water you can bet the sharks will circle and a feeding frenzy will soon begin.

Although I've never been a fan of this saying we're about to witness why...

"GREED IS GOOD!"

I think the US Bank COMEX short will continue to grow such that they will have such a large and dangerous short position in silver that they will either beg for a "Get Out of Jail Free" card or TAKE THE ENTIRE SYSTEM DOWN WITH THEM.

BE PREPARED!

IMPORTANT: I'm not saying that silver investors are out of the woods when it comes to silver market manipulation BUT we are very near a dramatic END GAME for silver manipulation. "THEY" can still place the price of silver anywhere they want and until the computer rigging programs are turned off be prepared for ANYTHING. I have no doubt they have more High Frequency Trading rig jobs left up their sleeves BUT if you are on the sidelines with physical silver, out of their reach, you will be more than fine.

This is important...

STAY OUT OF THE ELECTRONIC/PAPER SILVER MARKET WITH PHYSICAL SILVER IN YOUR POSSESSION ONLY!

Everything else will get washed out with the tide when the silver market manipulation blows up.

My advice to EVERYONE is that you should count your wealth in OUNCES not in fiat dollars.

Stay safe...NOW IS THE TIME.

May the Road you choose be the Right Road.

Bix Weir

www.RoadtoRoota.com

[eaglespirit]

http://www.kitco.com/LFgif/ag3650nyb.gif

http://www.kitco.com/LFgif/au3650nyb.gif


Life as We know it...CHANGE Indicators!


http://www.kitco.com/images/live/nysilverw.gif

[eaglespirit]

HIGHER Highs!
http://www.kitco.com/images/live/nysilver.gif

[Lost Soul]

$40.64 as of this post. I still expect silver to hit $50 this year.

[DawgBone]

The problem with buying precious metals is if we have a really world-changing event, a sack of rice will be more valuable than a bar of gold.

[Arrowwind]

I expect silver will go way higher in the next two years than $50

[Lost Soul]

$41.20 as of 4:04 a.m., NYT.

[Lost Soul]

$43.05 as of close on Friday, April 15, 2011.

[eaglespirit]

Silver goin' to 44

Gold goin' to 1500

[AuCo]

I expect silver will go way higher in the next two years than $50

What makes you say that, Arrowwind?

[Arrowwind]

Just my hunch... when you consider at the Hunt fiasco back in the early 80's and review what happened there..... we are in a much larger fiasco now.... with the populations around the world starting to stash like never before.....

Not until sometime after the world currency is established, I think, or this total collapse of US economy that some are predicting, will we possilby start to see the metals go down.

I personally don't think we will see a collapse of US economy as predicted,, but a world currency, probably.

[Arrowwind]

The problem with buying precious metals is if we have a really world-changing event, a sack of rice will be more valuable than a bar of gold.

this is true, but since we don't really know what is going to happen, like always it is best to diversify... buy your rice first and make sure you can feed yourself... if you have more assets to try to figure out what to do with then look at diversification. Land, water, gold, silver, livestock, could even be something as simple as firewood, depending on where you live and the needs of the community.

[AuCo]

Just my hunch... when you consider at the Hunt fiasco back in the early 80's and review what happened there..... we are in a much larger fiasco now.... with the populations around the world starting to stash like never before.....

Not until sometime after the world currency is established, I think, or this total collapse of US economy that some are predicting, will we possilby start to see the metals go down.

I personally don't think we will see a collapse of US economy as predicted,, but a world currency, probably.

I was thinking the new world currency is to replace the dollar. If the dollar goes, so does the US economy. I thought this is be design, without configuring in other non-human interferences.

[Arrowwind]

[
I was thinking the new world currency is to replace the dollar. If the dollar goes, so does the US economy. I thought this is be design, without configuring in other non-human interferences.

So what happened in Europe when they started the Euro? did they dry up and blow away?

[AuCo]

[
I was thinking the new world currency is to replace the dollar. If the dollar goes, so does the US economy. I thought this is be design, without configuring in other non-human interferences.

So what happened in Europe when they started the Euro? did they dry up and blow away?


Well, you have a good point there. However, the euro did not replace any dominant currency, one of status like the dollar. Let's hope it a soft landing.;)

[eaglespirit]

WOW...Silver and Gold "jumped" this morning....
we gonna be hittin' and caressin' a boiling point that is hotter than...hot...I mean HIGHER HOT!!!
CH>>>CHJ>>>CH>>>CHANGES^^^^^^UP^^^UP^^^AND AWAY to a New Glorious Mother Earth : )

Sooooooo Coooooool!!!

[toothpick]

Silver should correct itself anytime now. Be careful.

[Arrowwind]

[
I was thinking the new world currency is to replace the dollar. If the dollar goes, so does the US economy. I thought this is be design, without configuring in other non-human interferences.

So what happened in Europe when they started the Euro? did they dry up and blow away?


Well, you have a good point there. However, the euro did not replace any dominant currency, one of status like the dollar. Let's hope it a soft landing.;)

My understanding was that the Chinese Yen was already the predominant currency of trade in some parts of the world. The change is already happening... There just is no way we will be able to keep up as the financial leader next to China, and emerging India..but this does not mean that we will fall to prehistoric levels of survival.

[eaglespirit]

Silver should correct itself anytime now. Be careful.



Good Morning Toothpick...

I watch these metals for 'spiritual' reasons....the higher they go the closer we are to the melting of control!!!

[AuCo]

[
I was thinking the new world currency is to replace the dollar. If the dollar goes, so does the US economy. I thought this is be design, without configuring in other non-human interferences.

So what happened in Europe when they started the Euro? did they dry up and blow away?


Well, you have a good point there. However, the euro did not replace any dominant currency, one of status like the dollar. Let's hope it a soft landing.;)

My understanding was that the Chinese Yen was already the predominant currency of trade in some parts of the world. The change is already happening... There just is no way we will be able to keep up as the financial leader next to China, and emerging India..but this does not mean that we will fall to prehistoric levels of survival.

I have the feeling whoever are running the show do not want America to take on China alone. Without the crash/burn and renew process it will take a long time to implement the one-world government, not when there is still nation/state mentality, especially China. With China being allowed to grow and America going into decline, nations that are within reach of China will try to fend for themselves, thus drawn into a show-down with her. If you let China have her way, she will be the NWO. Yikes!

This maybe going off topic, old news but I thought might still be relevant:
http://www.worldtribune.com/worldtribune/WTARC/2009/lev0770_09_25.asp
also on rense:
http://www.rense.com/general85/China%27sPlanToConquer.htm

[Arrowwind]

Interesting articles on China... perhaps they want to come here and sit in Fukashima's fumes?

[Kano]

Silver should correct itself anytime now. Be careful.

Think so?

What do you think the timeframe is on that?

Correct itself to what price point?