Let's see...housing has been soft and getting softer, durable goods orders have been down, retail sales have been soft, new car sales (domestic origin in particular) have been soft, and unemployment has been on the rise. Yep that's the recipe for strong GDP growth, Maybe if we factored in the 12 to 16% inflation rate not spoken of in mixed company that GDP growth rate would make even more sense. I don't know about you, but I haven't been getting an excessive number of haircuts, but I did buy some new jeans.
You don't think they would just make crap up and put it out there to just make us all feel better, do you?
I'm keeping a running thread on this particular Butler theme here:
And two new silver charts for your entertainment this week:
The Nightmare - http://omencity.com/forum/viewtopic.php?t=1586
The 550 - http://omencity.com/forum/viewtopic.php?t=1592
boy I smell 4 big friggin' RATS that I can't wait to see having to poop their Shorts
or maybe they will "shart" their shorts which is just as stinky...I have been praying for this to finally be revealed..I suggest reading the last Ted Butler and doing the suggested emails to all of these companies to let them know we
know what they are doing....also it would be wise to call SEC CBOT CFTC et al and any mining companies and of course SLW management to let them know of this and suggest that if they put some presure on the SEC and the rest we could see the price of silver to be at the price level that the metal deserves to be at...Amen...pass the silver bullets
Here's my letter. Trust me, if everyone does their part this will have a larger impact than many believe possible....take the time to write your letter. I also wrote one to COMEX and CFTC.
Date: Wed, 22 Aug 2007 14:00:36 -0700 (PDT)
Subject: ScotiaMocatta VaR earnings statement discrepancy?
Dear Mr. Richard Waugh, CEO
Your institution along with your leadership has functioned with the highest of integrity for years. With this in mind, I would like to know if Scotibank is propertly reporting it's risk profile in the silver market? According to your Value at Risk (VaR) on your earnings statements, it appears that your company indicates between 1 and 2 million dollars a day for Scotiabank's entire commodity exposure. Please be mindful that if a significant short position in silver is held by your institution that this statement would be substantially more than this reported amount. In fact, if a large short position is held, it's possible that this amount is wrong by several hundred percent which woudn't be a small issue.
I appreciate your time and attention in this matter and am sure that under your leadership that this will be resolved as either something that is either inaccurate or something that needs to be addressed as soon as possible.
Thank you for your time in this matter.