frizzers Posted December 11, 2010 Author Report Share Posted December 11, 2010 Az, how can he have opened the front door? Is this the countryside where you leave everything open? BTW I met Vince Thurkettle the other day. Have you heard of him? A treasure hunter. Finally, in this mish mash of a post, Mish on silver - http://globaleconomicanalysis.blogspot.com...end+Analysis%29 Link to comment Share on other sites More sharing options...
romans holiday Posted December 11, 2010 Report Share Posted December 11, 2010 I thought Steven Hochberg on FSN was a good listen on silver today. I agree with his point that silver has spiked up to a trend-line and should retrace a fair bit. Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 11, 2010 Report Share Posted December 11, 2010 Finally, in this mish mash of a post, Mish on silver - http://globaleconomicanalysis.blogspot.com...end+Analysis%29 There is no evidence to support the theory that JPM will be forced to cover silver futures no matter how high the price of silver goes. JPM did not have to cover shorts at $7, at $10, at $15, at $25, or at $30. JPM has been short silver futures for something like forever. If JPM has not been forced to cover yet, perhaps the reasonable conclusion is no price would force JPM to cover shorts. They have unlimited credit at the Fed, so why would they ever have to cover? It would just be another black hole on a beyond repair balance sheet. Link to comment Share on other sites More sharing options...
Icarus Posted December 11, 2010 Report Share Posted December 11, 2010 There is no evidence to support the theory that JPM will be forced to cover silver futures no matter how high the price of silver goes. People are asking for the silver so shorts must be covered. You might be suprised to learn that one of the functions of the comex is the exchange of commodities. Strange as it may seem comex contracts are not just gambling tokens. People who own contracts allowing them to buy silver at, say, 15 dollars per ounce might just be tempted to buy silver for 15 dollars per ounce. Radical stuff, I know. Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 11, 2010 Report Share Posted December 11, 2010 People are asking for the silver so shorts must be covered. You might be suprised to learn that one of the functions of the comex is the exchange of commodities. Strange as it may seem comex contracts are not just gambling tokens. People who own contracts allowing them to buy silver at, say, 15 dollars per ounce might just be tempted to buy silver for 15 dollars per ounce. Radical stuff, I know. Sure. Only, if people generally took delivery, we wouldn't have this discussion anyway. Don't get me wrong, I don't own any silver futures, only the physical commodity. But if you play the paper-shufflers' games, they might just screw you. Link to comment Share on other sites More sharing options...
azazel Posted December 11, 2010 Report Share Posted December 11, 2010 Az, how can he have opened the front door? Is this the countryside where you leave everything open? BTW I met Vince Thurkettle the other day. Have you heard of him? A treasure hunter. Finally, in this mish mash of a post, Mish on silver - http://globaleconomicanalysis.blogspot.com...end+Analysis%29 We just left the door unlocked on that occassion. Do you lock all the doors on your house when you are in? I remmeber you telling us about being burgled. At least the wife locked the bathroom door! I recon he has stolen another parcel with a small amount of silver in it. Im going to confront him about it and say that unless my post turns up, I will be going to the post office and the newspaper to report the intrussion. No, I have not heard of this Vince chap. I will look him up on google later. Link to comment Share on other sites More sharing options...
warpig Posted December 11, 2010 Report Share Posted December 11, 2010 It's almost as if that didn't happen... Link to comment Share on other sites More sharing options...
Errol Posted December 11, 2010 Report Share Posted December 11, 2010 http://www.silverkeiser.net/ Link to comment Share on other sites More sharing options...
electroweak Posted December 11, 2010 Report Share Posted December 11, 2010 In case you thought the CFTC were going to roll over and admit any silver manipulation.... (courtesy of HPC, for the record) Link to comment Share on other sites More sharing options...
jerpy Posted December 11, 2010 Report Share Posted December 11, 2010 My postman signs stuff for me to save me the hassel of going down the post office to get it later. Had a similar arrangement as i do live in the country, had to stop though as my postie got nosey and asked what was inside the parcels. The easy quick answer was computer discs and he didn't blink at this, but taking no more chances. Now vary my delivery/collection methods of G/S including alternating delivery address through family. Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 11, 2010 Report Share Posted December 11, 2010 In case you thought the CFTC were going to roll over and admit any silver manipulation.... (courtesy of HPC, for the record) There is some background to it here: http://www.neuralnetwriter.cylo42.com/node/3721 It really makes you wonder what is the truth. Link to comment Share on other sites More sharing options...
electroweak Posted December 12, 2010 Report Share Posted December 12, 2010 There is some background to it here: http://www.neuralnetwriter.cylo42.com/node/3721 It really makes you wonder what is the truth. Easier if you know the figures.... [bart Chilton, Dec 8th 2010] http://www.cftc.gov/PressRoom/SpeechesTest...chilton-35.html We saw very large concentrations of trader positions in 2008. That has continued. Since then, we saw one trader hold more than 20 percent of the crude oil market. Even earlier this year, one trader held over 40 percent of the silver market. Link to comment Share on other sites More sharing options...
Pixel8r Posted December 12, 2010 Report Share Posted December 12, 2010 Easier if you know the figures.... [bart Chilton, Dec 8th 2010] http://www.cftc.gov/PressRoom/SpeechesTest...chilton-35.html The actual figures are so hidden it seems no one can get to them. Here's a new article from Rob Kirby; Something's Wrong in the Silver Pit: But It's Much Bigger than J.P. Morgan By: Rob Kirby Conclusions: * The BIS tells us that total global outstanding “other precious metals” derivatives are 127 billion. * General market wisdom [gleaned from OCC Commercial Bank data] suggest that J.P. Morgan and HSBC are the two dominant players in silver [other precious metals] * Yet, the U.S. OCC tells us that J.P. Morgan and HSBC combined – make up 13.577 billion of the 127 billion BIS total [roughly 10 %]. * The U.S. OCC tells us that Morgan Stanley and B of A and Goldman have an additional combined 70 TRILLION in derivatives – at the Bank Holding Company level – but they give us NO HINT as to what portion of these totals consist of precious metals activity. We are left to assume that this is because the OCC is only mandated to regulate Commercial Banks – while Bank Holding Companies fall under the purview of the Federal Reserve. * Unless J.P. Morgan and HSBC are LYING to regulators as to the extent of their silver market activity – there are other MASSIVE players in the silver price suppression game. Who ever these ‘players’ are – metaphorically, they MUST BE BLEEDING FROM EVERY ORIFICE with silver’s parabolic run up in price over the past few months. * Most likely among American entities are MORGAN STANLEY, B of A and Goldman Sachs – since together they are operating a 70 Trillion derivative “BLACK BOX” about which we know LITTLE to NOTHING as it pertains to precious metals. * Any way you slice it – precious metals data reporting on the part of American regulators is atrocious. Simple MATHEMATICS tells us a gold / silver ratio at 48:1 is EXTREMELY contrived and REEKS of manipulation on the part of the Federal Reserve and the Banks they are charged with regulating. Link to comment Share on other sites More sharing options...
nobla Posted December 13, 2010 Report Share Posted December 13, 2010 Had a similar arrangement as i do live in the country, had to stop though as my postie got nosey and asked what was inside the parcels. The easy quick answer was computer discs and he didn't blink at this, but taking no more chances. Now vary my delivery/collection methods of G/S including alternating delivery address through family. I get all mine delivered to my work address Link to comment Share on other sites More sharing options...
electroweak Posted December 13, 2010 Report Share Posted December 13, 2010 Ready... ready... Link to comment Share on other sites More sharing options...
azazel Posted December 13, 2010 Report Share Posted December 13, 2010 I get all mine delivered to my work address It really bugs the hell out of me that I can no longer buy silver on ebay as the postman will steal it or I have to pay recorded delivery and monitor the parcels state of delivery. I would have to do a sting or investigation type work to catch him out. One of the parcels he stole was signed for and the record shows it was signed for. Fortunately, the losses are not too bad at about £50. Link to comment Share on other sites More sharing options...
frizzers Posted December 13, 2010 Author Report Share Posted December 13, 2010 Well, at least you found out now. And it only cost £50 or so BTW if you bought with a credit card and never had delivery then you shouldn't have to pay Link to comment Share on other sites More sharing options...
frizzers Posted December 13, 2010 Author Report Share Posted December 13, 2010 Why not get some old junk coins - pennies or something - paint them silver and send them to yourself so he nicks them. Then he'll get at least very embarrassed if he tries to sell them. Link to comment Share on other sites More sharing options...
Kilham Posted December 13, 2010 Report Share Posted December 13, 2010 It really bugs the hell out of me that I can no longer buy silver on ebay as the postman will steal it or I have to pay recorded delivery and monitor the parcels state of delivery. I would have to do a sting or investigation type work to catch him out. One of the parcels he stole was signed for and the record shows it was signed for. Fortunately, the losses are not too bad at about £50. Your main concern should be the possibility that somebody with criminal tendencies knows you have a quantity of physical silver and probably gold. Link to comment Share on other sites More sharing options...
TW11 Posted December 14, 2010 Report Share Posted December 14, 2010 What do you reckon to this then, guys? JP Morgan admits defeat Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 14, 2010 Report Share Posted December 14, 2010 How have different investments fared since 2004? http://gold.approximity.com/since1999/Infl...on_GBP_LOG.html http://gold.approximity.com/since1999/Infl...on_GBP_LOG.html SILVER - a success story! Link to comment Share on other sites More sharing options...
warpig Posted December 14, 2010 Report Share Posted December 14, 2010 JPMorgan cuts back on US silver futures JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal. The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said. The person added that the bank’s position in silver would from now on be “materially smaller” than in the past. Link to comment Share on other sites More sharing options...
electroweak Posted December 14, 2010 Report Share Posted December 14, 2010 JPMorgan cuts back on US silver futures Said entirely to reduce the price of silver (to help them close their shorts), just like the previous two increases in margins from the COMEX.. Link to comment Share on other sites More sharing options...
Pixel8r Posted December 14, 2010 Report Share Posted December 14, 2010 There is no way that JPM have actually cleared their shorts, I suspect all they have actually done is shift future shorts to OTC derivatives. Why is there no way? Because the price hasn't moved to $100+, if they had really closed a short which was 40% of the futures market the price would have gone a lot higher. This is just a smoke screen to try and get the CFTC of their back. At least they have now admitted that they have a very large silver short. Link to comment Share on other sites More sharing options...
Pixel8r Posted December 15, 2010 Report Share Posted December 15, 2010 Keep in mind that ther's also a "third way" here; maintain your core position in gold/ silver, and over and above this trade the volatility between silver and the US dollar. Why bother? Because you will be able to increase the value of your dollar "hedge" to match the increasing value of your core bullion position. This makes sense for two reasons: 1] You think the dollar is the second or third best form of liquidity [as in Exter's triangle]. 2] You entertain the possibility of being completely deluded [or the market being completely and utterly manipulated]... and then the dollar position is a pure and outright hedge. PS "out at 17.90" only relates to my smaller trading/ hedging position. Sound-bites.... devoid of context... and all that. That said, still looking for sub 17.90. It would take some structural crisis I reckon... something coming out of Europe next year perhaps... like Germany leaving the Euro. Going heavily into the double leveraged silver ETF [AGQ] could serve nicely to rebalance my cash "portfolio" as silver maybe then went to 50 over the next couple of years. Why not keep it even simpler and just trade the volatility in silver via swapping between the metals. Leave fiat out of the equation as we are in a fiat currency crisis, you are just adding another level of risk. You say that the dollar is the second or third best form of liquidity [as in Exter's triangle], which means that it is below the precious metals. With a service like goldmoney you can easily swap between metals and grow the amount of your physical metal. Silver doesn't appear on Exter's pyramid but I think it should be included with gold in the bottom. Silver has actually been used as money for more time than gold through history. Gold is the money of kings, Silver is the money of gentlemen & Federal reserve notes are the money of slaves. Swapping silver for dollars at $17.90 was the wrong move, it would be bigger of you to actually admit it rather than keep defending your dollar "hedge". Link to comment Share on other sites More sharing options...
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