A Heretic: Why Was Warren Buffet Forced to Dump 129 Million Oz of Silver?

Warren Buffet bought about 129 million oz of silver at $3.50 to $4 an ounce around 2002-2003.   JPM helped him with this purchase. He was forced to dishoard at around $6 an ounce and by 2007 silver was up to $17.
This forced sale was demanded because he found that he made the same mistake as the Hunts.  Buffet believed silver was a good investment return because of its demand and supply factors and was cheap at $4 an ounce.

The US government made it clear that buying 129 MOZ of AG was the equivalent of being a heretic to the Catholic church.

 

By AGXIIK:

The Chinese have great appreciation for silver and gold having seen their huge hoards of same stolen by the Brits twice, Japanese and the US once.   Even as the 1980 PM price crescendo ended with a 90% drop in price, we’ve just experienced a similar effect during the 2000 to 2011 period.  Silver was around $4 an ounce.  

Buffet bought about 129,000,000 ounces at $3.50 to $4 an ounce around 2002-2003.   JPM helped him with this purchase. He was forced to dishoard at around $6 an ounce and by 2007 silver was up to $17.

This forced sale was demanded because he found that he made the same mistake as the Hunts. He thought it was a good investment return because of its demand and supply factors and was cheap at $4 an ounce. The US government made it clear that buying 129 MOZ of AG was the equivalent of being a heretic to the Catholic church.

His billions could be excommunicated with a mouse click should the government and banks decide that his heresy moved into the realm of Mortal Sin. He was made to bow to the Order, save AIG in order to save his monetary soul.
Soon after he was welcomed back into the fold, a reformed sinner.

 

The Lehman crash went on to smash silver price to $8 but that price decline was already under way via Fed and JPM manipulation because the banking system was going TU. Buffet lost on his forced sale because his hoard could have made a difference in the market value and it’s stabilizing effect in the markets. Buffet did not take on debt to buy his silver and could have bought more if permitted. Silver and gold’s price rise after that time period yelled “Financial crisis on the horizon”  With premiums, silver sold for $10 an ounce at the bottom. The natural reaction to financial crisis was the public’s buying with both hands.

Within 30 months silver raced up 500% to $49 as a direct result of the fear factor set in motion by the banking crisis, QE and people’s concerns that their stocks and real estate, hammered from 2007-2010, were due more suffering from some of the same effects as they did from 1975 to 1980.  

The powers that be are terrified that precious metals will once again call them out for the criminal manipulation class that they are, as was just confessed by DBank.

I believe we are on the verge of another set of banking, debt, stock and bond market, real estate and currency crises that will  precipitate a race upwards in the price of gold and silver that will be epic in scale.  $50 for an ounce of AG seems a low estimate but I’ll stay on the conservative side of the price ranges.

That said, I plan to buy at least 2,000, hopefully even 4,000 ounces of silver, in the next 4 months.

There’s a lot of FIAT in the couch cushions.  For pure selfish reasons I hope silver stays under $20.

Kraken SDBullion