Silver Update: Force Majeure

BrotherJohnF discusses silver’s technicals and whether a force majeure default by the COMEX is imminent in the wake of the Kennecott mine collapse and Barrick’s Pascua Lama shutdown in his latest Silver Update: Force Majeure

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  1. Right now police are chasing Cop killer at MTI.  Two guys They stole a car toughing explosives out the windows. rolled the car. Looks to be the terrorist Marathon Bombers
    Scanner site

  2. Just watched CBC’s secret world of gold.
    Nothing new to anyone here, but the people I watched it with were spellbound. Could be a catalyst for even more buying. Just like Mcquire and Murphy at the CFTC hearing in March 2010 spiked gold over $1000, this could be a rallying cry.

    • Buy what, where?
      Should people get into futures contracts? Other paper option? If we all dive into Sprott Silver, he’ll need to refuse clients soon also.

      The prices will go up when someone buys more longs in the futures market when no-one feels like selling. I am not holding my breath.

  3.   Number 1 I’m very pro pm’s in the long run but the evil gov’t cartel /  pro fiat elite are to strong now. So my prediction is no default  yet but a sideways move for 1 to 3 months then a crash down to around 17.50 silver to fleece  the new weak hands just now entering the market. 2 months  should give enough time for the straggelers to buy.  I see non -western central banks as the only hope to break the western munipulations. Of- course this  will mean a commodiites grab disquised as a war by the west doing gods work of course. Right now china russia and the eastern C.B.’s don’t mind the price discount . They’ll play along till I feel the $17.50 range , then they’ll ponce in. The indian-givers of the west must also realize this but their arrogance and greed will get in the way of their logic.

  4. If a force majeure is declared at the comex maybe Dimon will just say that there was a boating accident with a delivery that no one could have predicted.   That would be sweet. 

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