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Bob On Silver and Gold Manipulation Bookmark

 Gold and Silver Manipulation.

We told you it's been happening for years, now it's been "blown wide open" at the CFTC hearings. 

We wonder what will happen?!

 

NOTE> on April  12 Even the NY Post picked up the story. This is the first time something along the lines

 Gold and Silver Manipulation.

We told you it's been happening for years, now it's been "blown wide open" at the CFTC hearings. 

We wonder what will happen?!

 

NOTE> on April  12 Even the NY Post picked up the story. This is the first time something along the lines of "main stream" media has even touched this. 

Here's the link:

 

http://www.nypost.com/p/news/business/metal_are_in_the_pits_2arTlGNbMK7mb1uJeVHb0O

 

 

Many of our readers have forwarded articles about the recent CFTC panel review concerning allegations that the silver market has been manipulated. I have remained a bit quiet on it for several reasons, one of which is that in some small ways I helped provide evidence of this very manipulation. I won't get into that, but for today's discussion let's just focus on the "macro".

I got into personal investing BECAUSE of the metals market. If you read my bio, you see that I started life as a jeweler. All my young life I was mesmerized by gold, silver, diamonds, sapphires, etc. and went to a trade school to learn watchmaking, clock making, jewelry design, and repair. It was when I opened a few jewelry stores that I started to smell a rat when it came to gold and silver prices. Every time I'd go to buy goods for my stores, the prices would be different, but no one could explain to me just why. So, I decided I'd research it on my own and see what really makes the metals market tick. Well, what happened from there is the basis of why I retired from the Jewelry industry and moved into personal investing.

See, there was a problem. The "official" numbers didn't add up to what was taking place. The deeper I looked, the more bizarre things I'd find. For instance there would be lists of physical gold/silver at the exchanges, but even after huge sales, the numbers supposedly held, wouldn't change. How can that be? Then, when I'd look to the commodities exchanges I'd see trading that simply didn't make sense. The more and more I explored, the more and more I found what could only be considered "fraud".

Well, since our first newsletters went out in 1995 to some investment clubs, we've been harping on the manipulation of the metals markets. Interestingly however, all that was just a warm up for the outright outrageous fraud that's been stepped up since about 2000. Although there are position 'limits" and supposedly an overseeing arm of the commodities market, a handful of very powerful banks have been allowed to naked short the silver market in volumes that are just insane. How could it be possible for 4 banks to be short so many contracts that it exceeds the amount of silver bullion on earth??

The first thing people would ask me is "why are they so desperate to control the precious metal market?" Well the answer is really quite basic. Gold and silver are "MONEY". The junk you have in your wallet isn't money. You think it is, but it's not. It's a piece of paper with ink on it. It's only worth what Uncle Sam says it's worth and they can make more of it any time they wish. Does that sound like a sound monetary unit?? Something they can create at will, which debases all the others in circulation? Please. Yet the bottom line is that if gold and silver are allowed to trade where they "should", it would be like a stake in the heart of the central bankers. See, the Central bankers HATE gold and silver. It competes with their worthless paper currency, and therefore they have to beat it down at all costs. If silver and gold are allowed to soar to their true values, it shows the population that the fake money is really worthless junk. The worst thing that could possibly happen to a fiat bogus currency is for people to shun it in favor of gold and silver.

That's why the real heavy duty manipulations started at the 2000 era. When their bank induced NASDAQ bubble burst, they knew there'd be recessions coming and they would have to inflate the currency. They knew all the way back in 2000 that we'd be going to war in the Middle east ( yes it was planned that far back) and that they'd need to create credit and housing bubbles to keep the people thinking that their nation was still solvent. But they knew that if they pulled all that crap, a "lot" of people around the world would look to the safety of gold and silver to hedge the falling value of the dollar. So they had to devise ways to keep it down.

They used a lot of nefarious schemes to pull it off. They did forward leases, they did swaps, they played with inventory numbers. But the single most powerful thing they did was let Lehmans, Bear, and especially JPM to naked short the market with zillions of contracts. When added together, all the manipulations worked to a big extent. Granted gold was still the single biggest bull market seen in the past ten years, and went from 255 dollars the ounce to  1200, but it would have been 2000 by  now if not for the manipulation. Silver should be 40 dollars the ounce right now and moving higher.

So, what happened is that a lot of concerned citizens such as the folks at GATA and individual metal traders around the world have lodged complaint after complaint about this outright manipulation. I have personally sent dozens of emails, asking how positions can be so big when there can't be that much physical to back it up. Then, in Jan/February , a London metals trader literally called the CFTC and told them AHEAD of time what the silver market was going to do, and how the big bankers were going to drive the price down ahead of expiration. Well, there it was. The calls and the emails were recorded and guess what?? Silver was beaten down on the EXACT day the trader said it would.  Finally the CFTC allowed a panel meeting to take place concering all this. But even though it was broadcast "live", when a very damning testimony was being spoke, there was a "technical glitch" and that part couldn't be transmitted. Amazing eh?

So, where was the main stream media?? Here was a small panel blowing the lid off one of the worlds biggest frauds. This isn't Enron or Worldcom, we're talking so many hundreds of billions, it's literally one of the all time frauds in history, and I'd bet you didn't see it on your news. I didn't hear CNBC say a word about it. I didn't see CNN or anyone else carry it. Isn't that interesting? Want to hear something else interesting? The whistle blower from London was hit by a "run away" car a few weeks later, the driver arrested and not another word about who  he is, or why he rammed the whistleblower. Coincidence, or a warning shot from the criminal bankers that showing the world their little sandbox isn't good for your health????

Of course the criminal bankers defended their actions, saying they are all just hedges against the cash markets and there is no phony business going on. Please. What a crock of crap that is. Listen folks, the US produces about 40 million ounces of silver a year. The US mint has seen such demand for their recently re released one ounce coins that production is using up literally EVERY ounce of the stuff. Yet there's tremendous demand for it from aerospace, medical devices, medicine, solar, electronics, etc etc and yet despite all that demand, despite literal physical shortages of the stuff, the price doesn't explode. All because a handful of powerful banking cartels have been allowed to cap it with millions of illegal contracts.

The big question is ...what happens now? The cat is indeed out of the bag. They have been exposed as being the very crooks they are. Now will the administration step in and make the changes, and set things right? Will they enforce position limits, and never let any 4 institutions literally "corner' the market? That's the 64 million dollar question folks.

It's my guess that "something" has to happen, and what ever that something is, will let silver move higher. I don't think we'll ever drive the rats out of the market, but it wouldn't take much enforcement to really make a big difference and silver could push up and over it's old highs rapidly. Although I'm not a huge fan of the metal ETF's because frankly I don't believe for a moment that they have the actual metal they say they have, I wouldn't be against a small position in something like the SLV for some quick action. I also like the silver aggregator SLW a lot and think it's destined to be much much higher.

So there it is friends. We've told you all for 15 years that gold and silver have been manipulated, capped, and frauded. Now the proof is there, the cats out of the bag. It will be very interesting to see what they're going to do about it.

Here's a letter that one of our Dear Readers has sent to Fox news, in hopes of getting this some more coverage. Please read it, it's very well done.


Dear Sirs,
 
     Why is no one at Fox news or Fox Business News reporting on the CFTC and its March 25th meeting where Andrew Maguire's testimony (information) revealing JP Morgan's massive price fixing in the precious metals markets was exposed?  Actually it wasn't exposed to the CFTC at this meeting, they were forewarned of this market manipulation/crime on numerous occasions previous to the event which then occurred precisely as predicted.  In other words they were forewarned of a crime and chose to do nothing to prevent it, rather like reporting a rape to which you have been given advance knowledge of its time and place and the known  perpetrator and discovering the police couldn't be bothered even with proof in advance.    
 
      Is Fox now being grouped with other 'mainstream media corps' like MSNBC, CNN etc. as being bought and paid for by the powers that be in government and Wall Street?  When one mega-bank can take short positions equal to nearly 25% of an entire market (silver), repeatedly, to drive down prices, people begin to wonder if all markets aren't as fixed as these.  If these naked short positions ever have to be covered by the physical metal they legally represent (as they should) the resulting financial crisis will dwarf the sub-prime mortgage crisis of 2008 and 2009.  Bernie Madoff is a piker compared to the guilty parties here.  It was further reported by Jeff Christian of CPM Group a  'Bullion Bank Apologist' that the paper instruments traded are only backed by real metal at the rate of 100 to 1 putting a real fraction in fractional reserve.  In other words the OTC market along with the LBMA  (both secret and unregulated) are gambling at incredible odds and with nearly nothing behind their trades.  When a federal commission allows and by their inaction encourages this fraud we can look forward to a coming crisis of unimaginable proportions.  The sub-prime debacle will be dwarfed.  
 
     What people need to do is stop trading paper which most investors believe is real gold, silver or platinum  and instead demand delivery of any long positions they hold.  This house of cards  would  collapse in a New York Minute.  I suppose the taxpayers then will be called upon to bail out the banks again..............if they can.
 
     I find it  interesting  (saddening ) that Fox News can't be bothered to report items like this.  I can understand the left-wing media, but not Fox too!
 
John B.
Kirkland, IL









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