http://www.silverdoctors.com/bill-m...m-silver-scandal-will-rival-libor/#more-12059 AltInvestors has released an EXPLOSIVE interview with GATA's Bill Murphy. Murphy has previously stated several of his best sources have advised him gold and silver will make massive bull moves in August, and will soon set new all-time highs. Murphy went a step further today stating that 'JP Morgan and their silver short positions is going to be a scandal rivaling the LIBOR manipulation scandal- it's so focused, LIBOR involves so many companies, this is JP MORGAN! They're in BIG TROUBLE, and when silver takes out $30 it's probably going to go to $40 or $50 and it could do it fairly quickly'. Murphy went on to say 'the Gold Cartel and JP Morgan are starting to lose control of their manipulation of these low prices. Morgan's position is going to be exposed, they don't have the metal to keep the prices down here!' Muphy continued: 'This thing is gonna blow up. Whether it's a Madoff or an Enron, you never know when the thing's gonna blow. I stated previously that in August the launch would start. The launch has started. There is going to be a JP Morgan silver scandal to rival LIBOR. They've been caught. There are whistle-blowers that are going to do a Madoff on them. This thing is going to explode, it's going to be sensational, and MEG[youtube]http://www.youtube.com/watch?v=[youtube]http://www.youtube.com/watch?v=[youtube]http://www.youtube.com/watch?v=[/youtube][/youtube][/youtube]http://www.youtube.com/watch?feature=player_embedded&v=RuwkztXa8qQ
Come on ... why the doom and gloom??? I reckon the paper market will hold for many years to come! We have many members on here who are making a killing on the paper market and they will continue to do so for many years to come...
I listened to this yesterday and thought immediately that if this was so, then the best thing Bill Murphy could do would be keep his trap shut. Instead, he's telling everyone including JPM that they have a problem before the there are any facts. If JPM are as cut-throat as he pictures them to be (Andrew McGuire car chase & accident) then is he doing anybody any favours telling people about it. There are plenty of reasons to be investing in Silver at the sub-$30 level, without carrying on about what someone told someone else they might do, who told someone who told Bill. Blood might be in the water and the sharks may be circling JPM, but who benefits from advertising the conjecture? Isn't it just gossip.? However, I note JPM stock dropped by around a $1 since this story came out and the silver price has surged higher.
Said it once and i'll say it again, he's a lunatic. He has only ever lied to make himself and his fake organisation seem valid.
Yeah, I think there's sensationalists on both sides and you have to take it all with a grain of salt. The only things I know for a certainty are is that no one can honestly predict the future of a rigged market except those who control it and that irrational markets can and will stay irrational a lot longer than people predict. When you're in the prediction game though, people look to you and judge your credibility based on your predictions. I don't think anyone has been 100% correct all the way along (but that's what happens when you're forced into a corner and told to put numbers on the table), but for my mind, I appreciate the track record of people like Peter Schiff and Gerald Celente over others. It's a very difficult situation to accurately judge, especially over the short term where the market rigging fundamentals know no bounds and have not changed and although I don't doubt long term the PM market bulls will most likely be correct, I completely anticipate many short sighted judgement calls and detractor rhetoric undermining those calls right until the eventual end game appears. I'd just take any prediction with a grain of salt here and make the decisions concerning your own financial well being based on your own assumptions and conclusions because ultimately, you are the one who has to live with the results. That said, I enjoy listening to the more excitable pundits like Bill Murphy, Max Keiser and Alex Jones as much as the more serious ones as well. It's all information at the end of the day and it's never a bad idea to get more information. Looney as some might appear to be, they do actually garner some decent advice. Just don't be so eager to follow some of the extreme guys off a cliff because they talk the talk. Everyone has an angle here...
Er, wasnt JP supposed to go bankrupt in 2010 when silver first crossed $30/oz? Didnt go bankrupt when silver went past $40/oz or when it passed $48/oz either.....
I don't quite get the strong reaction against Bill Murphy. At the very least, this is 'feel-good' news, and we're all in PMs for the long term anyway.
I can't reveal my sources but this time it's different... trust me... Permabulls have terrible memories to go with their very terrible investment strategies.
do not understate J.P Morgan ability, one of the founder of Federal Reserve was actually head of J.P Morgan Banker's Trust
Can someone please tell me how JP Morgan (which is basically the right and left hand of the US federal Reserve) and borrows as much as they need for free is ever going to be finished/bankrupt ? What is worrying is that there are so many people who appear to fall for this stuff time and again.
The name of the Game is called Bailout. But please understand some basic history about J.P Morgan first. J.P. Morgan was the hero dated back in 1907 , before the birth of the Fed. He is a capitalist. He has successfully stabilize the financial Panic of 1907, personally inject $30b to Moore and Schley in order to save Wall Street. Apart from finance side, he also found the l st Billion dollar company in the world back in 1901 - US Steel , his railway business has benefit the American society in many many many ways which should not be forgotten. In order to prevent similar panic as 1907. They need something to prevent liquidity crisis by having a elastic money supply. A system which can expand and contract the money supply to maintain a flexible financial systemresort and to act as the lender of last .- The Federal Reserve System. Loan is how bank makes money. The bigger the loan, the lower the risk. However if Big Bank is holding alot of bad loan, like for example JP Morgan has loan from other Big Banks like Goldman and Bank of America and it cannot pay them back, Goldman and Bank of America will provide more liquidity to J P Morgan, because the interest on the loan is how they make money. They cannot afford to let J P Morgan fail. In fact they might give him another loan on top.....until he cannot pay event the interest....(scary). However if you open a bank called upandaway Bank, Goldman and Bank of America will let you FAIL because your loan compare with J P Morgan is so little. (Sorry for offending ^^). Alternatively, if Goldman and Bank of America also do not have the liquidity,The Fed Step In as the lender of last resort by Bailout or Rescue or White Knight (you name it). The Bailout package is printed and taxed future generation in terms of inflation. Excessive bailout package is paid to top executives. This is how the system works. So J P Morgan and other big banks, under the current monetary system, will prosper more during the crisis.
It works like this. Banking mutli-billion dollar profits get kept by the owners/managers/elites. Multi-trillion dollar losses are transferred to the community via Government bailouts. Wish I had that kind of guarantee in the business I run
Simple the USG is going to be "finished/bankrupt" and since JPM is a GSE/GFE by association so will it
I hope you guys are right becuase I need more time to stack more. I've only got a little stack right now.
