In one of the main claims in the ongoing class action suit against JP Morgan Chase alleging price manipulation of silver, the suit alleges that JPM made over 25 massive FAKE TRADES using Saxo Bank during sparse Globex evening hours prior to major silver raids for the express purpose of TELEGRAPHING AN IMPENDING SILVER SMASH TO THEIR BUDDIES!

As it is allegedly JPMorgan’s SOP to telegraph major impending raids in the metals to other bullion banks using FAKE TRADES during thin trading, could this have been the real reason for the flash crash glitch in the gold and silver charts last week DURING SPARSE GLOBEX HOURS which saw gold flash crash from $1750 to $1715, and silver from $34.20 to $32.80?
Gold has already traded to and below the target of the chart glitch.  Will silver continue to be smashed to the glitch target of $3180??


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Notice that gold has met the level of both of last week’s Globex flash crashes:  From $1750 to $1715:


And from $1730 to $1699:


Silver has not yet reached the target of the flash crash glitch at $31.80.  Will we see further weakness until the level is achieved?


After consolidating overnight throughout the Asian and London session, gold and silver are currently being dumped again on Wednesday’s COMEX open.

Silver down to $32.80, only one dollar from the flash crash target of $31.80:


Gold to $1695, the flash crash glitch target of $1699 having been achieved and surpassed:


While we were ridiculed by many in the gold and silver community for even bringing attention to the glitches (which we stated at the time appeared to in fact be a glitch), in view of the circumstantial evidence along with the cartel history of telegraphing impending price raids, it might behoove gold and silver investors to at least take notice the next time an extreme flash crash glitch appears on the gold and silver charts.

    • As you can see, PB, this is now a nation of men and not of laws.  For proof, I offer this very silver market action where WHAT is done is superseded by WHO is doing it.  If you are “connected”, you can do virtually any damned thing you want.  Corzine did.  The BIG NYC banks do too.  Title this chapter as “The Return of the Robber Barons”.  🙁

    • That’s true! That bank is JP Morgan and they hold 28% of all silver including the physical silver also in the silver market. The reason why JP Morgan isn’t stopped by the CFTC is because the justice is in favor of the banks instead of the others.

  1. I dont know what to quite make of it…..I have been hearing rumours that the Dark Forces are going to smash silver and gold big time (I suspect to lower prices than in spring 2012) to force out weak hands.
    If this is the objective, the smash will have to be great.
    If you have bought on margin, watch out ! Dont get wiped out.
    After this, is the expected run-up to explosively rising silver prices.
    I got spooked, and sold 2000 oz of paper, I bought on margin. I cant have that be a millstone around my neck.Already went through that in early 2012. Met the margin calls, but I was getting scared.

    • But the Dark Forces did smash gold’s price for 1500$ per ounce and silver’s price for 26$ per ounce, I think. It’s a good thing that you have gotten rid of your paper silver because paper is created out of thin air and they might not be backed by the actual physical metal.

  2. I am prepararing for a (for me) major purchase of likely 100% silver. Hoping silver to stay put until I secure the fiat for it. Looking to hedge myself for early price explosions when I have the currency to do just that.
    It would be TOTALLY AWESOME if somehow I can make my purchase under $30 levels. A few months ago, I would have accepted $35-40 immediately. Am I getting lucky with my timing? I did call this year’s bottoms on the dot, and loaded up all I could. then bought loose junk coins under spot most of the way up.

    • XC Skater:  One of the things you might want to look at , to bring in some cash, is to look at small option bets on AGQ, a 2x silver ETF.
      Im setting up a series of small rolling bets.
      Knowing that, silver is going to rise explosively (but we dont know when) , consider:
      When silver is at 35 , AGQ is around $60.00
      When silver is 37 to 37.5 , AGQ is around $75 to $85.
      When silver peaked in 2011 to $48, AGQ was $190 !
      A $60.00 call option for Jan 2013 expiry, can be had cheap.(I believe right now, less than $1.00.
      Then, if silver was to go to $37.00 -37.5 , and AGQ goes to , say $75.00, you can pocket a $15.00 gain, your risk was , say $1.00.
      Im doing my rolling bets in my TFSA, so gains are tax free.
      As I see it, Im playing with loaded dice. I know that silver is going to rise explosively, buy I dont know when.
      Never bet the farm, and for many, dont ever bet at all.
      Just some ideas for y’all to consider !

    • I know right! I miss the days when we could buy some physical silver for 27$ per ounce. On summer 2012, I had the chance to buy some silver bars from one of my local coin shop for 28$ per ounce when silver was at 27$ per ounce! That’s 1$ over spot! But I only bought one because I didn’t have enough cash. 🙁

  3. I believe some of the longs are often hedge funds and others that are in collusion with the Morgue and other bullion banks. Also the Chinese are probably part of this too. They are playing both sides to get metal cheap and proffit as well. If you were trying to buy up every ounce of supply available price is important. they could well be one of the Morgue’s clients, who knows.

    • As far as that goes, RRG, The Morgue could well be both long and short via a repeating series of short high, long low bets.  Their naked shorting is controlling the market so price jumps and dips are not a surprise to them.  They are milking the cow AND making hamburger.  Problem with doing that is that sooner or later, one runs out of cow.

    • The silver manipulation investigation’s results will never be released in my opinion because it might affect a lot of silver buyers financially. I think the CFTC has already abandoned their investigation.

  4. There are recently too many “glitches” but it makes me wonder if they actually are or not because there is also the cartel who keeps lowering gold and silver’s prices with their paper but they are now failing a lot more than before. Perhaps maybe the glitches are signs of the cartel losing its power over the markets.

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