The only thing that should be discussed on this board, a this time, is the fact commercial banks shorted 6700 contracts for silver(5000 ouunces per contract)and silver went down $2 the next day. This was done the week before settlement of COMEX options.
Anyone holding SLW, was just robbed! I wonder how many shares of SLW were shorted by the banks, the same day, since the effect of shorting silver and SLW would be obvious.
Be Mad! Complain the the CTFC,SEC,and the DoJ. You were just a victim of a criminal enterprise. What's worse, all these agencies already know we were robbed, and refuse to act!!!
This from Jim Willie, echoing what I said. So obvious....
If the Commodity Trading Futures Commission truly wished to do their job, and identify manipulation in the precious metals market, they need only to open their eyes and monitor the Big Four trades in this current week when futures options expired for gold. The gold cartel illicitly pushed down the gold price so that options expire worthless. Notice the cartel kept the gold price below the critical $1200 waterline until Tuesday afternoon. Poof, a heap of options go worthless, and whoosh, the gold price moves over $1200 in the wake of the criminal event. Some analysts actually made sneid comments like the gold traders "had it coming to them" or some such. So if a band of Florida retirees goes to Vegas on a field trip, eager to double their money at the casino tables, do they also have it coming to them to be victimized? The Florida Suckers face crooked blackjack tables and altered roulette wheels, and their greedy grubby plans are rightfully stripped by corrupt operators? Never should greedy gold traders who expect monumental mammoth monstrous monetary inflation to push gold toward $1300 per ounce, be considered cannon fodder. The CFTC is just another Goldman Sachs office, obedient to their masters on Wall Street and the USDept Treasury. Referring to options expiration day of Tuesday May 25th, Jesse of the Cafe Americain said "Gold traded all day below 1200, at times rising to within fifty cents of the key strike price of 1200 where a large concentration of call options were clustered. Well, since the call options at 1200 have expired worthless, why bother using the energy to continue to suppress the price?" The games, tactics, and devices to suppress illicitly the gold price are fully out in the open. One must wonder if the CFTC officials are asleep. We know Larry Summers is asleep on the job
"To say that they are just buying US Treasuries yielding a few % is not really true."
That is correct...and I didn't say they were just buying Treasuries. They are mostly buying Treasuries when it comes to their lending activities. Consumer credit has collapsed and corporate credit is tight especially for small business. This is a credit collapse. The preferred borrower is the Treasury. Everyone else is SOL.
Their speculative activities occur at another desk except for the monies lent to hedge funds, which is a far smaller amount than 2 years ago as well.
"At some point it will be a stampede into assets, with J6P the last to find out."
Well I won't tell J6P if you don't.
Yes, we were robbed. But The CTFC, SEC, and the congress are not going to do anything about it. The banks run the country and they pay off those in Washington that take care of them. The market is rigged and we are at it's mercy. We can't do anything to stop thise who have the power to manipulate it. My approcah is to short this market using bear ETFs, puts, and taking short positions in selected stocks. Once the DJA has fallen several thousand points, it will be time to pick up SLW dirt cheap. How can we expect SLW to do well at this time in a rigged market? SS
Rigged or not, SLW and silver will soar in this decade.
Madoff ran a Ponzi Scheme, until it crumbled. The same is starting to happen to the commercial banks and their "paper metal". Just hang in, and you will be rewarded.
Perhaps the discussion should first define what it is you argue about. Define manipulation in commodities. Manipulation to me is the movement of commodity prices outside of the supply / demand / storage / hedging dictates of PRODUCTION. Additionally, investment vehicles like ETF's seem to constitute a investment rather than production demand and should be considered legitimate. Are there individuals or groups that cause commodity prices to move outside of this boundary?
For one to argue manipulation does not exist, is to ignore what happened on the LME with nickel default in 2006, is to ignore what happened with the Enron energy trading desk (revealed through the tape recordings that CBS obtained explaining how they manipulated energy), it is to ignore to ignore what goldman sachs did with the GS commodity index in 2006 reducing the gasoline weight from something like 10% to 1% forcing billions in forced sales linked to the index funds, all while they shorted to profit...etc.
Whether one conducts a trade through current legal processes or not, should not excuse the fact that manipulation has occured. Goldmans' process with the gas contracts was legal but was it manipulation, yes because they stood to gain an unfair advantage in commodity prices having nothing to do with production and which I lost 2% on..lol.
I day trade/ swing trade for a living. I don't fight the tape. I watch the market makers and whenever they take positions that don' seem to be justified by fundamentals, i don't ask questions, I just follow because I've learned the hard way, the move the market in the direction they want the market to move, period.
"The only thing that should be discussed on this board"
Who made you the chief of the board. This board has no chief. YDM posts the most I think, so he is the Postleader(hehe)
Anyway, get real with this rinky-dink problem you speak of....Far greater threats: