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Silver Whistleblower Interview on King World News

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  • Wed, Mar 31, 2010 - 12:21am

    #10
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    Re: Silver Whistleblower Interview on King World News

 For me it’s a confluence of factors,

1) it’s useful, if I drop a .999 pure coin in a container of water (or milk) it kills bacteria.. the milk stays fresher.. (hence the “wishing well” superstition — like: “I wish… i don’t get dysentry”)

2) It’s depleting.. Peak oil + peak minerals + disposing of reserves.. = Peak silver production.

3) It’s historical money..  if you look at the words… “dollar” and “sterling” .. you’re looking at a definition in terms of silver..

4) It kills werewolves…never met a lycanthrope personally.. but hey you can never be too careful.. :o)

 ( if the colloidal silver ppl are right, it kills a lot of other nasties too.. )

5) It’s well below it’s all time high… if David Morgan’s graph is right.. WELL below.. and I’m big on history.

6) it does well in both of Dickens’ “tale of two cities” scenarios.. “it was the best of times, it was the worst of times..”

 7) It’s magic must be very powerful … if the wicked witch wants to control them so badly..

 http://www.youtube.com/watch?v=TP_wx0qrKu0

 

  • Wed, Mar 31, 2010 - 12:58am

    #12
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    Re: Silver Whistleblower Interview on King World News

What’s the short-term fix and how can we position ourselves to profit from the fix and the ultimate recogning?  Simply acquire and hold physical silver?

We all know that the powers that be will simply kick the can down the road a bit, rather than allow a total collapse (i.e. “this is a national security issue”).  If “no regulator can stop it” as they state in the interview, what is the timeline.

By the way, the 100:1 ratio was a “for example”.   They don’t really say how bad the leverage is.

Edit:  They do say definitively that the ratio is 100:1 towards the end of the interview.

  • Wed, Mar 31, 2010 - 01:27am

    #13
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    Re: Silver Whistleblower Interview on King World News

I was surprised that there was no mention of the hit & run. My impression was that the interview was done after the incident, but perhaps not.

The 100:1 stuff is based entirely on Jeff Christian’s comments in the CFTC hearing and IMHO is taken somewhat out of context. But net net, it still makes the important point that there’s a big disconnect between paper and physical.

Erik

 

  • Wed, Mar 31, 2010 - 01:42am

    #14
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    Re: Silver Whistleblower Interview on King World News

[quote=Erik T.]

I was surprised that there was no mention of the hit & run. My impression was that the interview was done after the incident, but perhaps not.[/quote]

My impression was the same, but I was curious rather than surprised. IMO Andrew requested that it not be discussed. The other driver has been apprehended and in due course a court date will occur. Whether we will learn more remains to be seen.

  • Wed, Mar 31, 2010 - 02:14am

    #15
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    Re: Silver Whistleblower Interview on King World News

A couple more articles on the subject:

CFTC Commissioners Gone Wild

http://seekingalpha.com/article/196324-cftc-commissioners-gone-wild

Fun With the CFTC

http://seekingalpha.com/article/196158-fun-with-the-cftc

  • Wed, Mar 31, 2010 - 02:26am

    #16
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    Re: Silver Whistleblower Interview on King World News

Interesting that none of this information has moved the market for gold and silver (yet)

any thoughts on how soon we may see some impact to the spot price for gold and silver. (if any)?

 

Ken

 

  • Wed, Mar 31, 2010 - 02:58am

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    Re: Silver Whistleblower Interview on King World News

the spot price of “physical” ™… ( as defined by.. )  no idea..

 the true value.. is what it is.. scorned or adored.. it is what it is..  cf: I am, what I am…

 what’s the spot price of plato1965 ? unknowable… not for sale..

 If we truly understood real vs perceived  values as a function of time.. , investing would be easy…

 

 

 

  • Wed, Mar 31, 2010 - 03:59am

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    Re: Silver Whistleblower Interview on King World News

zeroenergy21 – thanks for the great dig from King World News.  I thoroughly enjoyed the interview and immediately suspected that prices would rise.

Ken C wrote: 

Interesting that none of this information has moved the market for gold and silver (yet)

any thoughts on how soon we may see some impact to the spot price for gold and silver. (if any)?

Great questions…as I write this, silver is flat and gold is slightly down…what gives?  One would think that the heavy hitters must be all over this and rushing for the remaining physical.   What’s up with the MSM not covering this story? 

In the interview there was mention that “cash settlements” could be offered in lieu of delivery.  Is extortion happening behind the scenes?

Many of our fine CM contributors have questioned the 100:1 ratio…subtle but a powerful point.  

Thank you Chris Martenson, many of us followed your lead, we’re heavy in PMs and it continues to pay off.

Larry 

  • Wed, Mar 31, 2010 - 04:59am

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    Re: Silver Whistleblower Interview on King World News

Failure to deliver has been reported to have already occurred on the LBMA last September.

http://news.goldseek.com/GoldSeek/1255111200.php

  • Wed, Mar 31, 2010 - 05:34am

    #20
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    Re: Silver Whistleblower Interview on King World News

Notice the names involved in the failure:

[quote]The unexpected immediate demand for substantial tonnage of gold bullion created utter panic in at least two banks who were counterparties to this trade – J.P. Morgan Chase and Deutsche Bank – because they simply did not posses the gold bullion which they had sold short [an illegal act which in trading parlance is referred to as a “naked short”]. [/quote]

and notice that there was reportedly a problem with the metal itself:

[quote]Earlier this week, no less than two Central Banks became involved in effecting the physical settlement of this situation.  One of these Central Banks was British [that would be the Bank of England] – and reportedly, even they were only capable of providing less than pure, non-compliant gold bars that did not meet good delivery standards stipulated by the LBMA.  Like it or not, this is a testament to lack of physical gold available, folks.[/quote]  (wonder if perhaps some of those bars had a little something besides Au underneath their golden skin…)

I think I remember this being discussed here at the time… and wasn’t there another set of posts in the past few weeks about an institution that was modifying the terms of its agreement with clients – saying that cash settlement was an option if physical metal was unavailable? and then they said that no, no, we didn’t mean to imply that we would ever have any problems delivering the physical element…

While the tungsten story seems a bit out there, in the context of a market where people simply claim to have gold and sell paper vouchers on it into the market (but keep “it” ‘safely stored’ in their secure vaults) such a product might be very handy in a panic market where checking and tracking standards might not be quite optimal…

Say Larry – is everyone here stuck on heavy metal? what about good ole rock and roll?

Seriously, if this situation began to get out of hand maybe a decision would be made once again to make holding gold illegal…

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