http://messages.finance.yahoo.com/S...073&tid=385775&mid=385775&tof=15&frt=2#385775 http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_J/forumview?bn=10073 There's a war going on in the silver trading pits between Blythe Masters (head of commodities at JP Morgue) and the traders she fired last year. See links above to find out the day to day action. Silver may go up to $40/ounce or more if the traders she fired win the game. ================================================== Wynter_Benton - Silver Question 7-Feb-11 11:29 pm I've been an avid reader of your posts, and I'm curious to see whether I'm understanding you (and the March situation) correctly. ~~~ It all started with the delivery month of Dec. 2010. In Nov. 2010, the OI was around 40,000 contracts up against around 50 million ounces (50,000 contracts equiv.) in the COMEX. ~ 5,400 contracts stood for delivery and ~ 1,800 received silver while the remaining ~3,600 settled for cash at a premium of 10% to 30%. Prior to the notice day in November, it became clear that certain counterparties were willing to settle for cash premiums in order not to deliver on the physical. This caused an increase in the amount of activity in the paper markets that drove the price of silver up into the end of the year as different groups scrambled to get in on this deal. The reason that COMEX didn't just deliver the entire 5,400 contracts standing for delivery is because they didn't want to put themselves in a position where they would be forced to reach out into the market to replenish inventories. After all, it took a well known PM asset manager about 10 weeks to fill an order of 15 million ounces (or 3,000 contracts equiv.) so one can only imagine how long it would take to replenish 27 million ounces quickly? And it'd likely be quite expensive. Now that we've got a March OI of 65,000+ and only 40 million ounces (8,000 contract equiv.) in the inventory, there's the possibility that the COMEX will run out of registered inventory if a similar ratio to Dec. 2010 (1/8) stand for delivery in March. So a large chunk of those groups that have the financing available to stand for delivery will likely be paid another cash premium to go away. Since the tactic worked so well in last quarter when the threat was much smaller, it's likely that the repeat performance will cause enough activity to push up the price of silver again going into March. (If I remember correctly, you said it would likely go above $40 an ounce.)
LOL yahoo message boards enough said. Why do people always look for these little conspiracies within the silver market?
Because when you uncover the stinking load that represents the modern system, anything that seeks to undermine it looks plausable. Unfortunately, there's as much crap in the conspiracy circles as there is in the 'official' ones. Sifting through to find the odd nugget of truth can be hazardous to your mental well being at times.
Long term, unless someone has a mother load of a stockpile that they are not telling anything about silver does not needs conspiracies to be a good investment + it's shiny
It's no longer a conspiracy. Look at the March OI. If I was a hedge fund trader I wouldn't mind getting in a few months 20% free money on my 1 billion dollar investment.
More clarification on what is happening in the silver market for March delivery. Stay tuned. I wonder if a default by JP Morgue will trigger massive derivatives behind some of these contracts, if they fail to deliver? I'm sure they've hedged their shorts elsewhere. Oops. http://runredhot.com/?p=1665 ------------- Rumor: Blythe Rigging MAR SI Contract Published on January 16, 2011 by Joe No Comments Following rumor first found on Yahoo Message Boards, circulated across kitco. Blythe is senior trader at JPM, "Morgue" is JP Morgan. Blythe, This is what I am hearing from your former traders (who made "very interesting career decisions"). Well it seem that they are on to a new scheme to corner the Comex and drive the price of silver up $10 to $15 dollars in a matter of weeks. The strategy is as follows. We know that Comex only has 105 million ounces of silver of which only 50 million ounces are availabe for delivery. (I personally don't believe the Comex numbers are anywhere near that high, but that is neither here nor there for now.) Well, all it would take is 10,000 contracts on the Comex to buy up all the "available silver" at the Comex and 20,000 contracts to deplete it completely. The current front month March OI is north of 78,000. Watch the OI closely. Blythe's former traders are advising major hedgefunds and billioniare investors to buy up as many contracts as possible as March 1 approaches and deposit the cash needed to stand for delivery for the month of March. The purpose is not necessarily to bust the Comex but to force the Comex to pay a premium (some as much as 30 percent) for cash settlement. Think about it. If a group of hedgefund gets together and bankroll $1 billion, they can buy more than 30 million ounces of silver. Of course, the contract sellers like The Morgue cant deliver the silver so a cash settlement is the only recourse. So what's wrong with $200 million in profit on a $1 billion investment that takes less than 4 weeks total? Guess what Blythe? Your former traders are advising everyone they know to put on this trade come the first week of February. Is this what happened in the Decemeber contracts? Is this why silver went from $22 on September 30 to $29 by December 1? How much do you think silver will spike in February as we approach March 1? The traders think silver will be north of $45. Heck it went over $9 as we approached December and everyone who got a pay off in terms of a premium cash settlement will be back for more. And they are all gonna be bringing friends to partake in the bounty. Your former traders are telling everyone who would listen that all they need to do is purchase a huge amount of March contracts near the end of February and stand for delivery and they will all make 20 percent in a matter of days. Is this what you are hearing Blythe? If so, shouldnt you let the price of silver move up so that you can get some physical to deliver before March 1? Either way You're going home in a body bag, do-da, do-da
I found it interesting that: * Blythe Masters is head of global commodities at JP Morgan, alleged to be manipulating the price of silver * Blythe Masters invented the Credit Default Swap (!) * Blythe Masters is leading the push for carbon derivatives She has been busy!
Well sorta ho hum last night . Tonights shenanigans might be interesting thou . Mar 1. To Turd or not to Turd ; either way im not detoured.
http://silvergoldsilver.blogspot.com/2011/02/paging-blythe-ummm-someone-is-here-to.html Paging Blythe, ummm someone is here to pick up 21,000,000 oz of silver, paging Blythe Just got in from the streets and off the phone, seems like the pre lims check out, but will not know the options expiry activity. This my friends is a massively large problem for the COMEX. London LBMA is confirmed dry, just got off the phone with a contact thats been in the biz since 74. 21,000,000 oz's. Im not sure you can just print that. Oh right, and the Canadian Mint is having trouble finding it too, right, Blythe good luck. More to come later...MORTALLY WOUNDED and on LIFE SUPPORT. Keep your heads up, the beast is BLEEDING OUT. Thank me at any time
Yes mates, do more research on JP Morgan and Blythe Masters! The center of PM price manipulation has moved from London to New York and Chicago. She is a mean one.
