Schilke, there are so many that are dazzled by Harvard-Speak that they believe that simply because the language is obfuscative that the premise MUST BE CORRECT. We thusly swallowed HOPE & CHANGE for this in 2008. Now we are truly listening and still nothing meaningful or comprehensive emmanates from these mouths. This would be laughable if it weren't sadly pathetic and merely an epethet to our nations'former glory and democracy. Drivel has allowed the elites of Washington to not only drain the coffers which once were abundant, of this generation but deny any whisper of hope for the next. Even the GREATEST GENERATION has no qualms about the burden that has been placed on it's grandchildren. Greatness is now reserved for those that lie in repose as those remaining should be marching in walkers and riding wheelchairs in the streets of Washington in protest. Ask them, they'll tell you it's true or affix a glassy stare and deny the reality of the situation that stares them and all of us in the face. I wonder if these protesters would so be labeled as 'radical', or misguided, or even as 'tea-baggers'. Not knuckling under earns contempt from the elite while the disaffected now storm the polling places on election day, replacing one set of rapacious fools with another. How can I lose on my silver investments?
Moriarty on gold321 left these thoughts:
"It was a fascinating book because I think everyone familiar with the time would intuitively understand that printing too much money was the basic cause of the hyperinflation that destroyed Germany and built the foundation for Hitler and World War II.
We are doing the same exact thing today but we call it “Quantitative Easing.” Strange term for printing money but I suppose if you confuse enough people with misleading language, you can get away with anything. It’s nothing more than printing money and the most accurate term for it would be counterfeiting.
The financial world as we know it is in a slow motion crash that few Americans recognize. If you want to see the near future, watch the riots in Italy, Greece and England, soon coming your way. The US is so far beyond bankrupt that anyone who can count understands it even if they ignore it.
Dr. Laurence Kotlikoff, professor of Economics at Boston University estimates the current real debt of the Federal government at $202 trillion dollars. That’s on an economy of $14 trillion. The Fed is doing everything possible to print money so we can pay the debt off in cheaper dollars but we know how that works out in the end, hyperinflation and collapse of the economy. The government is already prepared for civil disorder. It’s going to get ugly."
Schilk, SBurns, Carl, et.al., I'm convinced that the majority of the clowns in the Congress and the Senate are far more culpable than, those they control (business, corporations and unions)via their corrupt legislation the peddling of sweetheart exceptions to them for political gain. We've got them by the short-hairs as long as we don't accept their currency and rely on their judgment, veracity and legislative intent. I worry for my country and the freedoms and liberty that my fore-bearers have worked so hard to acheive and maintain. What worries me most is the lethargy of the average American citizen that so desperately believes that there truly is a 'free lunch' waiting for them if only they cast their votes for a political party.. every political party.. as the corruption has spread throughout the seat of government. My mother's father told what his own father had said to him as a boy, "THE STENCH OF THE DEAD FISH SMELLS FROM THE HEAD AND WORKS IT'S WAY DOWN". We continue to see the wisdom of this warning and caution.
Carl, "the "tin foil hat" group will never admit that the misunderstood the market dynamics totally, but instead will blame the bankers for their losses."
DCP sez: It ain't the TinFoil folks that I worry about, it's the Katrina Folks that begin the loot'n and shoot'n once they run out of beer and KFC.. 'cause these are Entitlement Days and if you're Entitled, what is yours BELONGS TO THESE and you don't get between a dog and his bone.. even if you think it still belongs to you. jmho Things are not always going to be like they were when you were a kid... All of us have put the lions in charge of the lambs. Don't doubt me. Look at what Congress is doing this week. Aren't you proud? Me neither! Washington Post AP poll issued today: "87% dissapprove of the job that congress is doing" Tea Party Crowd won't have a say, it's all too late. Wolves are loose and ravenous. Oil is closing in on $100/barrel and nobody talks about why that is... when half the world is in depression...
Prices keep rising and yet, "officially" THERE IS NO INFLATION. Could it be that "Liars figure and figures lie?" Truth..? Yeah, it's the things you can see with your own eyes and grasp with your own hands. Times are still easy.. wait 'til they get interesting.
"In the latest example that virtually every conspiracy theory is almost always inevitably proven to be fact..."
As for why JPM would be reducing their positions, I would presume that they are adjusting their portfolio in the face of expected position limits. If you are saying that that proves they had large positions, I don't think anyone ever disputed that. The only question was whether their positions were "naked" or not.
The fact that none of the "tin foil hat" predictions have come to pass doesn't prove that none will ever happen, of course. We could still have a delivery default. We could still see some investment bank report a loss on silver trading. I don't think we will, but I continue to watch with curiousity.
In the meantime, I continue to predict that we will have an epic bubble, followed by a crash, with silver prices falling back to the $18 range. I also predict that when that happens, the "tin foil hat" group will never admit that the misunderstood the market dynamics totally, but instead will blame the bankers for their losses. The lesson here is that being right for the wrong reason may eventually catch up with you and cause you to make a wrong decision at a critical time.
JPM abused the system and even if not intentional attempted to corner the marker. I suspect a lot of the recent run up was as a result of the bad position the jpm got into with such a massive short position and the world knew.
In the latest example that virtually every conspiracy theory is almost always inevitably proven to be fact, the Financial Times reports that JP Morgan, the firm targeted by thousands of "tin foil hat" wearing, conspiratorially-oriented "gold bugs", has cut back on its US silver futures. "JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal."
Mish thinks Max Keiser is wrong and JP Morgan will not be forced to cover their short positions.
It is wise to look at many opinions, especially in a market that seems committed to do the most harm to the most people:
Max says JP Morgan has been naked shorting silver
In normal shorting, what ever is shorted must be borrowed and then sold as the short sale is executed. In naked shorting, the borrow never takes place and the sale is executed as if it was...pure fraud which the SEC gives a wink and nod.
Good Luck to All
I gave you an "Excellent" rating for digging up this article. It simply supports my argument that TOO BIG TO FAIL is the guiding principal of this Administration. JPM won't get hurt. JPM Can't get hurt. AGAIN, it is YOU the TAXPAYER who needs to get out the jar of Vaseline.. ONE MORE TIME! Enjoy.