Silver is going along for the GOLD raid ride. GLD is the target.
JPM the bank is not exposed by their(proxy) silver short exposure at this point. It's the FED that is exposed, and the FED could care less.
The one big flaw in the so called paper logic was the belief by many that not much physical backed the paper.
Well JPM has some physical that backs SLV, but the bank backing GLD truly has lots and lots of physical backing GLD.
The cartel is aided by a hand full of big banks, in the manipulation of gold prices and GLD, where by they can swap shares for GOLD because they easily meet the $14M requirement (something in this range).
NET NET, they are buying physical by steeling GLD backed supply at the distorted low paper exchange prices.
Then the gold makes it way to Central banks is the thought.
It sounds like the world is preparing for a gold backed new currency. There is nothing to prevent them from continuing the raids and price manipulation to where stackers begin to see huge drops in the price of their physical and eventually give up their metal as well. Although that will not be needed by the central banks.
Cash looks to be the renewed king short term...I think holding junior miners will get risky if this persists.
Source: kingworld news...
Gainesville coins has only 7 of 45 generic silver bars even available, the rest is out of stock. And the ones you can order won't even ship to them until 5/31/13.
Even worse is the "name brand" silver bars; only six available out of approx. 70 items.
Lots of people buying physical, not many selling the real stuff.
Rumors flying around about China becoming the New World currency and having that backed by gold. These are all theories it seems and at best it is all a matter of time. The masters of the universe don't divulge their secrets as easy as some conspiracy theorists and/or gold bugs would think... All I can do is watch the chart for AU/AG, hold onto what I got and buy more of everything when I can. Sucks to be me sometimes...Vampires they are!
I hear you. It also sucks to be so called "in the know" these days...I just hope what ever the plan is, they take a crack at a coordinated, peaceful migration, versus the old plans of needing to create catastrophe just to win the will of the people. The sheeple don't need war, they had them at "hello"...
I believe in the NIKE plan:
Just DO IT...
Thanks for article!!
Anyone in this field of playing the Market for the past decade can tell you this has been done many times before. The smart person will now take advantage and buy real physical gold and silver.
Believe me when I say there is NO anxiety when price falls if you are holding the real deal. If you have paper or mining stocks, that's a real level of anxiety when the PM's get hit.
Silver and Gold are on a Black Friday type sale right now. China and India (and Russians) are grabbing this stuff up and so should the average US/Canadian citizen.
Big leap to go from buying paper (equities) to physical......I know, I've been there. BUT, once you start and build up a physical portfolio it's just a great sense of relief and satisfaction.
Not saying to trade the miners, but someday it will all come down to the amount of physical that you hold whether you and your children are debt slaves or are free.