In the MUST READ article below, silver expert Ted Butler makes the case that JPMorgan has stockpiled over HALF A BILLION ounces of physical silver…the biggest silver haul in history:
Gold and silver are spiking today as the dollar rolls over, with gold up $25 to $1220, and silver up over .60 to $17.25.
Both metals appear to be on the verge of a breakout…
Silver bullion remains one of the most undervalued commodities and store of value assets in the world today and therefore one of the greatest opportunities.
Indeed, we view the opportunity in silver bullion today as very much like that seen in the period from 2003 to 2006.
Then, silver traded below $10 per ounce prior to sharp gains during and after the financial crisis which saw silver surge to $20 prior to a sharp correction and then surge to nearly $50 per ounce in April 2011.
They did not need to trip Speculator gold shorts but they need the mix to be just right in silver so they could crash it.
Since that crash they have built silver back up and I believe they are getting ready to use silver to crash gold again.
As gold follows silver, gold will reach new lows.
There is an unwarranted assumption that market prices are always right, and represent “fair value”.
In the case of commodities, particularly metals, this is not necessarily true, because regulated financial markets make it too easy for government agencies and large banks to game the system:
Evil always tends to be its own worst enemy! Little did JP Morgan realize when they carried that price slam out in 2011, that their actions would unleash forces within the silver market that couldn’t be stopped or reversed…
Will it come later today??
Is JPM accumulating physical silver because the END GAME is on the doorstep…or simply stockpiling a hoard to suppress the white metal yet again from higher prices?
The Dragon Bleeds Gold.
Make no mistake, the ghost of Chavez is HOWLING over this one…
The now well known manipulation whistle-blower Andrew Maguire sat down with Sprott Money for a wide reaching interview including his thoughts on the banking system, as well as the play-by-play inside story of how the CFTC handled & responded to an insiders allegations of major commodities market manipulation by a mega TBTF bank.
Maguire also offered his current take on the state of the Western financial system:
Bottom line, any one of this daisy chain of banks exposed to this quadrillion of derivative bets, if they default, then they all go down. And this whole paper experiment goes down in the history books for students to study. The countries that have gold assets will be the dominant world powers in the future.
Maguire’s full MUST WATCH interview is below:
With gold & silver taken to the woodshed once again while China was closed, Harvey Organ joined us for an explosive 100th Episode of Metals & Markets, discussing:
- Metals Smash All About Options Expiration With China Closed On Holiday!
- 3 Separate MASSIVE Derivatives Messes Could Each Send the System to SMITHEREENS!
- Why Hypo Bank’s derivatives could take down the entire system
- Greece On the Brink Of Default- the $5 Trillion End Game is Unfolding!
- Harvey Reveals the Signal to Watch For That Will Indicate Gold is Going Through the Roof!
The SD Weekly Metals & Markets With The Doc, Eric Dubin, & Harvey Organ is Below:
Keeping our Eyes on the Prize:
I remember very well, where I was on this day, 4 years ago. I was flying high throughout the entire month of April. I’d just started a new job, but on May 1st, 2011, like many of you, I was glued to the computer screen all day long, with a gut-wrenching feeling in the pit of my stomach. Because, 4 years ago today…..Blythe Masters and Jamie Dimon, along with various agents of the US government, began a carpet bombing of silver that lasted nearly a whole business week. Instead of having a pathetic pity party today though, I’m going to do something veeeeeery different!
I’m going to give you a “Silver SitRep” in the struggle we’re in, from a bird’s eye view. I want to draw attention to what you and I are up against, in order to acquire our silver. What we face in getting our silver, is getting more difficult by the day. By the way, I’m not talking about the banks making it more difficult, but other, very different factors. You see, I’m convinced we’re closer than ever to the end of Bretton Woods II, and the Great Reset, and I say that because of silver. Silver is my main barometer.
Their Own Words Condemn Them
Today we take aim at the ongoing market-rigging of gold and silver, by the world’s central banks. For yet another world-banking head’s words have been recently discovered, about this crime in progress, and his thoughts are quite revealing.
We’ll find out:
What he had to say about gold rigging…
Why he thought it was necessary…
And what he thought about gold’s last bull market price rise.
The silver market is broken and has been broken for a long, long time.
It is silver derivatives and computer trading models introduced in the 1970’s that really started to distort the market value and it has never been more distorted than it is today.
Hundreds of Billions of silver derivative ounces are transacted by the bullion banks every year to steer and control the price of silver. This volume of silver trading dwarfs the tiny physical silver market that only provides a few hundred million ounces of physical silver to the market annually for investors to buy.
Those of us who know this to be true have tried to position ourselves such that the wide ranging price dynamic would not effect the position we took to take advantage of the inevitable price spike that must happen AFTER price manipulation ends… Because we knew the price riggers could place the price of silver derivatives at $0/oz or $1M/oz with a click of a mouse it was the only way to ride out the manipulation.
So that’s what we have done and now we sit and await the END of this manipulation. We all knew it would be chaotic and produce very extreme pricing swings (as we are seeing now with sub $20 silver) but we knew it must end.
That is were we are now: