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Author Topic: Buy Silver - Crash JP Morgan  (Read 2326 times)
Lexington
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November 12, 2010, 10:09:44 PM
 #1

This is only indirectly related to bitcoins

http://maxkeiser.com/2010/11/12/crash-jp-morgan-buy-silver-america-says-max-keiser/

It would be nice to see a criminal bank go down.  That is the kind of thing that opens the door in peoples minds to looking for alternate forms of currency.
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November 13, 2010, 09:47:39 AM
 #2

Alex Jones didn't seem too enthusiastic about the plan. I would be cool if they actually pulled it off.
ribuck
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November 13, 2010, 11:40:51 AM
 #3

The video is somewhat light on content. How big are JP Morgan's upcoming settlements? By what date does JP Morgan need silver? How high does the price need to rise before JP Morgan's short-selling activities fall apart?

After all, it's not really about how many people buy silver, it's about how high the price is forced.
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November 14, 2010, 07:24:06 PM
 #4

The video is somewhat light on content. How big are JP Morgan's upcoming settlements? By what date does JP Morgan need silver? How high does the price need to rise before JP Morgan's short-selling activities fall apart?

After all, it's not really about how many people buy silver, it's about how high the price is forced.

The main issue here is in terms of how much in naked shorting has JP Morgan put themselves "out there" in terms of silver contracts.  If in theory they have "sold" more silver than physically exists in the world (which is sort of what is implied in this video but not explicitly stated), then having a whole bunch of people purchasing a substantial fraction of the world's silver supply and simply "sitting on it" where J.P. Morgan can't buy it is going to put them into a position where the contracts are going to be called and they will be unable to deliver.

More substantially, when they do start to go about buying the silver that is left in the world markets (you can't get that to zero, no matter how hard you try) is going to skyrocket and put their short positions in a terrible position whey they would run out of cash in a hurry.

The real key is the amount of silver that they have sold.  If it is a relatively small amount, it really is no big deal.  If it is a sizable fraction of the world supply, they could get screwed over in a hurry.  The price points really would be irrelevant or the dates.  Any extended date or any "call price" is just a matter of time before the whole scheme falls apart.  Individuals buying silver (such as is suggested in the video) would tend to sit on those coins long enough (a few months to close to a year or perhaps more, on average) that it would be enough to get past the tipping point where this bank would be in a world of hurt.

That is the real problem here, that silver is a real tangible medium and not something which can be created out of nothing.  If this bank has been playing games with the silver market, they deserve to be burned.

Certainly the global supply of silver is at least in the realm of something which can be manipulated like this, as has been evidenced with the Hunt Brothers from a couple of decades ago.  The difference here is that if this guy is correct, JP Morgan could go down in a big way.... likely to be saved by the Fed, which is the sad part of the whole thing.  At some point the electronic creation of cash has got to end, but Ben Bernanke is getting almost too comfortable at buying up stuff with Federal Reserve funds.  If you are an American, you should read that as an across the board tax on each American too, as the value of the dollar will drop as a result.

Other than looking at the price chart for silver over the course of a year, is there any proof that any of this is true?

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Lexington
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November 14, 2010, 08:28:21 PM
 #5

Alex Jones didn't seem too enthusiastic about the plan. I would be cool if they actually pulled it off.

I was surprised that he was not more enthusiastic.  Normally, he seems like he is all about bringing down the powers that be.
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