GATA’s Bill Murphy whose London source last month predicted that ‘gold and silver will go nuts in August‘ stated Sunday that JP Morgan still is having a massive problem with their naked short silver position, and that last week saw such a heavy covering of shorts in Chicago and New York that an imminent explosion in the price of gold and silver ‘could see a 100% increase in 90 days!‘.
Is the long-awaited next stage of the gold and silver bull markets and a massive short-squeeze finally at hand? Bill Murphy believes so.
From Bill Murphy:
I have spoken before about my contact on the Board of Trade who trades mainly the metals and is in touch with New York minute by minute. He has been saying for several weeks that the metals would have one more big drop (1525-1550) before they really took off. Today he changed his mind. They saw heavy covering of shorts in Chicago and New York. This should show in next week’s COT. They see an explosion of huge proportions and are adding four more floor traders as they see August as a record month for them. He closed by saying “We could see a 100% increase in 90 days.” Tie this in with other things that we have read and heard. Golden regards
Peter
If what Peter sends us pans out anywhere close to what he has been told, this Mini-Midas is more than well worth the read. What fascinates me is that this new input confirms what my other three sources have been saying. Now we wait to see how this plays out in the three weeks of trading left ahead in August.
In addition, as you well know by now, it has come to my attention from all of my original contacts that JP Morgan has a big problem with their silver short position and that this problem will reveal itself in a public way in the near future…
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Yay!
But not holding my breath.
Read poop like this all the time.
Spot on brother 4 oz ……time will tell …..but like you “Not holding my breath”
4oz….I know what you are saying. However, it does appear that the perfect storm for surging precious metal prices is at hand. Personally, I would be very surprised if we don’t see significantly higher prices by year end. I have been all in for several years. So, I just add to my position and enjoy each day. No worries.
I agree ‘Dog, perfect storm is a great way to describe it. Never in history has there been such a moment for REAL money, (the metals). Paper is more easily printed, than metals are mined. Metals are finite, fiat currencies are not. Add to this that the economic condition in the entire modern world currently is failing and so their currencies. In this time of fake money and NO money, all the wind socks are up on gold… and silver especially. Now if silver simply returns back to it’s historical ratio to gold, that alone would put us over $100 an ounce but factor in the possibility of the 100% in 90 day theory, and ya, I would call that the perfect storm. Every cloud has a silver lining remember….
Hi-ho Silver…….away!
yeah this time seems different, but fundamentals don’t matter until there is no supply
10-4 4 Oz But there are some things rumbling off the radar like some of the metal trading firms hiring more people to handle volume, supply chain issues with silver and gold, shortages maybe?, that might coalesce into a big run up We are due for it. The Casey curve which outlines 48-50 month cycle of PM price cycles might be a good indicator of some action within the next 4 month time period. Summer is a bad time for price action in PMs. The up cycle could yield silver close to triple digits. Who knows for gold. Different dynamics there. All I want is a narrowing of the GTSR if nothing else. 20 to 1 would be sweet.
” 20 to 1 would be sweet.”
Truer words never spoken, sir. Thinking about it, it seems like the high ratio is maintained on purpose. As otherwise, it would allow all of us pesky silver bugs to flip our silver and grab a large amount of gold prior to the implosion.
Silver prices can’t stay down forever with declining ore grades and increasing energy costs. I just keep adding to my stash every few weeks.
I think the true price breakout (priceless) in silver will occur during late stage collapse/total collapse of the financial system and onwards. Discussing the price of silver in dollars is useful for educating folks who have yet to buy in only. The future purchasing power potential of silver and gold are simply too great for people to wrap their minds around at this time. Post collapse and assuming some semblance of society returns someday, people who had the foresight and resolve to see through the fog of gov’t propaganda today will be considered the new aristocracy in the future.
Timeforsomefun
so tired of hearing about a future MAD MAX aftermath.Wont happen.Power and wealth will be reallocated in a huge way.holders of metal will be rewarded handsomely for their patience and foresight.We wont have a post apocalyptic Planet of the Apes scenario.At least I hope not.
Keep stacking.The time draws very near.
flynn~
I don’t believe there will be a mad max scenario, but the aftermath of the coming financial collapse may seem like it for a while. Yet, the truth is whatever arises from the collapse of this paradigm will look nothing like life does today. It’s the Central Bank’s propaganda that scares everyone into believing life as we know ends if they go out of business. Life as we know it will end, but we’re not returning to the cave man days any time soon – at least I sincerely hope we don’t.
In any case, I happen to live in a city that ranked 16th poorest in the nation a couple years ago. When I look around my city and see who the average inhabitants are, I know for sure it will be a killing field when the money stops.
im a silver believer but sick and tired of murphy an others that are seller silver promoters with the same ol silver is about to take off routine
day after week after month etc…put it to sleep, as people have heard the little boy who cried wolf story from their mommies….enough already! yeah the mad max stories are old too, i agree. does anyone know a blog by someone that is not getting paid by either a silver bullion dealer or mining companies that has any real information regarding silver? id like to sign up LOL!
Another great source recently announced that we’d get QE3 dumped in our laps over the weekend. Did not happen.
One days, one of these sources will be right. And it may well be coincidence by then.I am all in, and thinking about buying my very last ounces, or gambling on a leveraged long position. If true, a 90 day doubling would be awesome. As long as there is no system crash… If silver/gold rally alone, the system should stay upright long enough to cash in, and physical out.
Jim Sinclair wrote it could happen during “this weekend”, and used it as a totally misleading headline when really he was saying it could happen any given weekend. I called it out as misleading and being sensationalistic writing here on SD.
I’d love for this all to be true, but really don’t see how “JP Morgan still is having a massive problem with their naked short silver position” when the price is not going higher (and they have unlimited credit lines).
It seems as if the unofficial rumors (no evidence, just hearsay) get more and more sensational along with more and more discouraging price action. I’m not saying the rumors are false, but the cartel is certainly successful in making the market think so, and as long as they can do that I don’t see why they would be panicking over their position, unless they are being forced by someone to get rid of them.
This is like the former President Bush with operation Surge in Iraq! The Surge didn’t do sh*t either and more and more solders where killed. So when this supposed move in precious metals happens in August. I will be one of the first to comment on a job well done. However, if you have a contact (confidential informant) on The Board of Trade, why tell the whole world. Now those who read this or have their proxies read this. They know they have a mole and or the are just feeding you (Mr. Murphy) disinformation!
Only time will tell!
It’s been calm to long.
Any minute now I’m expectin all hell to break lose.
Surely whilst the paper markets are trading at 100 to 1 the price is still completely out of whack. I believe people will have to loose trust in the paper system for the price to rise significantly.
After all, paper promises are not rare (ie comex contracts etc). However if it falls apart, people will realize how truly precious and rare silver really is without billions of paper ounces floating around.
That’s my only concern with the whole comex default theory. If the cartel knows the paper market is coming to an end soon then why would they dump all their physical holdings in order to save the paper? If somebody has a good explanation I’m very eager to hear it.
With silver I can see how a market crash would kill industrial demand and allow them to buy back silver relatively cheap. But what about the gold?
Blah, Blah, Blah, Blah……………
living in the back of my greenhouse in about 150 square feet to stash has been humbling but cutting the heart of jp morgans naked short 1 oz. of physical silver at a time gives me the utmost pleasure. to watch the bloodsuckers crash and burn. i might no longer be called a jr. stacker as a puppy running with the big dogs!!! may the lord send me a chase credit card!!crazy like a fox the one and only bucketburialsilvervigilante
In August. In the next 90 days. In the near future. We’ll see. I can’t help but think that any “Insider” leaking future JPM direction would be getting a pink slip. So I can only think the info was planted to draw in a few more suckers for another takedown. All I go by is how TPTB have planned the financial meltdown, and it’s progression. Gold and Silver’s turn are coming, but not yet. It will be the last safe place to have your wealth before the new digital money is forced upon the people.
GATA does not sell gold or silver, and they don’t really care if the prices of gold and silver go up or not (ie, their goal is not to increase demand for gold or silver with the intent of driving up prices). From what I gather, GATA’s primary goal is to expose and to try to end the ongoing manipulation and suppression of ‘spot’ prices for gold and silver, in order to promote real free markets in gold and silver. It just so happens that, with heavy-handed manipulation removed, the real free-market prices of gold and silver would be multiples higher than what they are now. But as an organization GATA, does not profit from the buying or selling of precious metals. What they are trying to do is to expose the truth so that more people can see what’s really going on with the deceptive, corrupt, and counterfeit monetary system we call ‘fiat money’.
Just a quick FYI Me and my BOB are buying two 20 cu ft upright freezers. Cheap too—about 4 oz of silver each. With the drought, high feed costs, fuel costs rising and lack of water a lot of farmers are selling their stocks on the cheap—to costly to feed them. The meat prices will drop so stock up if you can. It might be prudent to stock beef, pork and chicken. The senior member of our BOB has 5 deer tags so venison will be on the table by November.
God I hope he is right!! Even though I am not selling my stack for years . . . . I would feel better if the paper price were not so ridiculous. We know that silver is 20% or less of its true value. At least they could let it go to $60 for heaven’s sake!
Hype Hype Hype, and more Hype, Silver and gold i think we all agree will eventually account for the massive fiat printing that has been going on for the last 4 years but dont expect it to be a get rich quick scheme. Stacking physical is a long term trade with potentially massive up sides so just keep adding to your positions and enjoy the ride, if it skyrockets tomorrow then we are all rich, but if it skyrockets in 5 years then we are all richer, which ever way it rolls its all stackalicious.
Thanks to headlines like this one I started buying silver a few years back. I’ve been buying monthly ever since but not paying attention to these kind of headlines anymore. Hype, this is all it is. We all know which direction the silver price will go long term. We can see that the game is heating up as the days pass, that’s for sure. Putting time frames on the end of the game is nothing but a guess.
Forget about “Silver $1000 tomorrow morning” headlines but keep accumulating silver ounces.
2 OZ. per week, every week, every month all year long (+ more when the opportunity offers). Great price on the freezers AGX). Freeze, can, dehydrate, salt/smoke cure foods, have a few farm animals, fresh water supply, plenty of meds. and ammo along with the like minds and I could give a rats butt about the constant headlines of “when the price rise will come”. If, at the end of August, the price rises to $100.00, I’m sure everyone will be happy. To me, it’s just ounces. Silverholic said it just right – ” forget about $1,000.00 silver” and keep stacking.
Just keep getting ready in ways other than PM’s. Keep stacking but make plans to live life in ways you won’t have to start the depletion of your stack.