Don't get me wrong, I am buying pms, and as much as I can. But to 'cheer' the manipulationIi think is rather naive and selfish. What if it wasnt manipulated? Granted, it wouldn't have given us the opportunity that we have now. but what about the other effects 'those that are unseen'. If the market wasn't manipulated we could have been on a hard money standard for some time and the world would be far better and equal who knows? The Iraq war may never have occured, all those riots in Eygpt probably wouldnt have happened. To cheer for something that has arguably been a crucial element in perpetuating the fiat money fraud and delusion over the last 20 years, I think is just plain wrong. And you touched on my point anyway, the reason you are cheering is because you can see it ending (we all can) fairly soon, in our lifetime where we can take advantage of our foresight today. I am sure there are a few people who never got the opportunity to so that. So should we cheer for the manipulators? I say laugh at them for still trying, get the metal while it is available, but certainly not cheer them, for if you are you are simply on their side in suppressing prices and detrimenting society. I know you are a very passionate person Auspm and I respect that, but now and again it doesn't hurt to think about someone elses position other than your own. We have all heard how hard things have been for you and I honestly congratulate you for what you have achieved. With that said, appreciate that there is still others that are worse off than yourself, those that are too ill informed, too poor etc that this fiat system has betrayed. You are in the fortunate position of having enough intelligence to recognise the system for what it is, others are not so lucky. And also inversely people that have stacked for years and are now terminally ill or on the death bed, that never had a chance to realise their foresight. Cheering for a fraudlent market perpetuates this. If I could end it tomorrow I would, well aware that i would lose time to acquire more.
I honestly don't care if the sheeple are getting taken to the abattoir in the modern world because that's what they honestly want in the end. Watching the market manipulators going for broke keeping a lid on spot is a giggle for my mind and absolutely worth cheering. I know in the long run their efforts amount to trying to bail water on a sinking titanic and it's a delight to see an opportunity that works in our favour for once, instead of against it. This isn't an opportunity to any one market or group of people either. Almost anyone (even the unemployed) can buy silver with free money now if they so choose to do so. Why on earth would I care about any of them if they choose not to? Intelligence isn't born of luck, but by the rational mind and for my 2 cents I have absolutely no compulsion to 'save' the idiots from themselves in this world. We lament the state of decay in the world whilst propping up the fools who implement it as the status quo. You can't have it both ways euphoria. Either we breed a rationale of contempt for the unthinking mind to get the world back on track, or we indulge our laziness and play the fiddle whilst Rome burns.
Commercial bank shorts on silver have dropped massively from approx 200 million at the end of 2009 to close to 95 million now. While I don't think the banks will get out unscathed, so far they have done wonders at reducing their position without any real injury.
I dont think there will be any collapse of the paper market, right now the profits are in the paper market and theres no real threat of high net worth investors suddenly deciding to get physical delivery of metals. In regards to SLV and GLD i was under the impression they where leveraged products anyway so they don't need to have 100% physical backing. If lots of customer demanded delivery they can just go into the market themself(possibly at a loss or gain) and get physical delivery for their customers.
China is starting to raid in on the GLD and SLV. There is a process where you can accumulate physical using those 2 ETFs. I believe end game will also be GLD and SLV unable to deliver. http://kingworldnews.com/kingworldn...ct_Massive_Chinese_Gold_Buying_Using_GLD.html
The fact you pay the level of tax that you do implies you're already getting screwed over far more than any play in the COMEX ever will have. The debtor market that's run rife across the world for the last 20 years has done more damage defrauding you of your wealth than the COMEX manipulation EVER will. You have ALREADY been had mate and it wasn't a few silver market manipulators who did the damage. It was more likely your IP investing neighbour or your local bank or the Bogan ranga and crew in Canberra who screwed you and will continue to screw you as long as they can for every cent you have. How much in flood levy will you pay this year? How much will the COMEX silver beat down take from your pocket? You need to check your premises! An idealised world would certainly have no fraud in it what so ever, but since we're not living on Candy Mountain and have to make do with the shit sandwich we're forced to bite day in and day out, the small amount of relief we can get from one of the only remaining markets where the value of our labour can be realised, appreciated and protected for the long term gets the thumbs up from me. At least with Silver and gold being pushed down you have the opportunity to protect your wealth and realise your devalued labour at a future time. If Silver and Gold represented real market prices based on supply and demand today, you probably couldn't afford it! So don't be so quick to bite the hand that feeds you. Ethical considerations are no longer relevent in this age and in a world filled to the brim with fraud, looters and thieves, the COMEX manipulation today is quite frankly the only option left to save your collective ethical arses. They've created a window of opportunity for those who are not blind, offered you a hand when you're neck deep in liquid shit and about to go under. You can dislike them all you want, but only a fool slaps that hand away to die in pride. So yeah, I cheer the market manipulators loudly. Sheer folly it might be in the long run, but today, any enemy of my enemy is my friend and in a world of crims, there's far bigger fish to fry than the COMEX. I'll take what I can get thanks. GoldSeek - Mike Maloney on Metal Market Manipulation http://www.youtube.com/watch?v=cbK8CrDPjJs Listen ppls!!!
Gday mate, Thanks for the link. Very informative. Although much of what he mentions is easily extrapolated from readily available data I find his way of writing nice and simple for those that might not be fully tuned in with financial instruments; Even if some things by necessity are a bit simplified. I've been a reader of this site for only a few weeks, and have been meaning to sign up but ended up doing so just to mention that the comments on the link you provided are also worth reading. There is even input from one of the sources himself "bron" who starts with: "There would be many within the Mint who would be amused at you categorising me as a "mainstream" view. I understand you are using my explanations as representative of the mainstream view but I would like readers to be clear that my personal view is different. To clarify this, some comments on your piece." Needless to say he then goes on to put his perspective on the piece. Good stuff. As a side note - and somewhat of an introduction - I initially started with Gold some years back but was forced to sell due to a period of unemployment. I am now into Silver for two reasons. 1.\ I believe it will have a larger upside than gold on a percentage basis and 2.\ I'm back at Uni studying Aeronautical Engineering so money is as tight as a 'nuns whatsit' at this stage. Am jealous of those with a big stash already hehe - I'm in the school of thought hoping silver stays low for a bit longer until us 'underlings' get a bit of a chance to catch up . Great group of people here btw. Cheers, Trav
Rather than be screwed and wait for a day far in the future to be paid my dues; I'd rather the system collapses asap so that every cent now and into the future is valued higher immediately. I'd rather live in a fair, free and non fraudulent world right now, than accept the status quo. Not being able to buy silver and gold cheaply is not good a reason imo.
I agree that greed drives the world, but it's not what's breaking it. Corruption, manipulation, rigged markets and theft are what's breaking it. The foundation of greed as a principle unto itself actually isn't evil. The desire to gain shouldn't be viewed as bad in my world, it acts as a driving force for excellence, achievement and hard work. We confuse a lot of what we think of as greed as bad when we combine it with the way wealth is achieved in the modern spectrum. It's a very important point of clarity that needs to be made for the rest of the point to fall into place with any meaningful context. For my rational mind, Money is the root of all that is good. But it's a question of context. As I had already mentioned, the COMEX manipulation is on a very limited timeline now. It won't be some paper hack exposing the market that will bring it undone (ala Andrew MacGuire), but exhaustion of the physical. Industry demand won't stop because the COMEX offers to pay out a premium on contracts instead of ponying up the silver. The market WILL demand delivery and when they can't get it, that's game over. Like I said before, we had 10 billion + out there in 2000 and now we have less than 1 billion. Just how much longer do you think this will go on, realistically? I don't want to get to bogged down on a tangent discussing ethics because your brand of ethics and mine are completely different. When you talk to me about charity and national pride days I honestly get a cold shiver up my spine and a very bitter taste in my mouth and without going into another long Objectivist spiel on ethics, rationale and values, let's just say such concepts to me are not viewed in the same way as the establishment would deem acceptable. I think the concepts related to the market manipulation need to be viewed with context in mind of people's values. My experience in waking up to the system (as I've mentioned a number of times before) didn't just end with learning the fallacy of the fiat ponzi, but has since gone much further than this, effectively reshaping myself from the ground up and whilst it's creating me to be something of a social lepper around these parts of late, I must say I have never felt happier and more satisfied with myself in my life. The only thing that could make me happier right now is being very rich and completely self sufficient of the system.
March contracts have been the key since December at the Commodity Exchange - Comex. If enough big money wants to demand their physical and cough of the cash then they can probably force a premium out of the Comex to settle in cash rather than physical. For years the Comex, JP, HSBC have been using their financial power to profit from the Comex - but now if big money is going to target the Comex and essentially "extort" it then, well, sparks will fly and in this situation, the holder of the biggest wad of cash wins....standby......
In this world corrupt heads don't roll - they get golden handshakes and pats on the back. such is life.
Greed is good i'm still not actully convinced all the drops in silver/gold are manipulation like some comentators have claimed. Some of the commentators out there seem to be almost grasping at straws like claiming because there are not many trades on 2015 futures that must mean people are taking delivery.
I have been watching the PMs futures market since 1982... and... To see this "Near Zero Contango in Comex Silver Futures" is NOT normal... but an indication that indeed physical supplies are SHORT and demand is VERY high to take delivery in the current month. To the best of my knowledge this has NOT happened in silver futures since the silver ishares ETF's were started... 2006. I am sure that the Comex silver futures has NEVER seen a Zero Contango... or anything even close. This is history setting. manipulation = GREED for the big players. I hope it back fires... but they will probable get bailed out. We can't stop the manipulation, but we (the stackers) are the WELL informed and can take advantage of it. I don't think I will ever see this type of opportunity in my life time. This is like having the opportunity to invest with Bill Gates or Apple back in 1978 for just pennies per share. Or even Google just a few years ago.
I do believe silver/gold are good inflation hedges at the moment. The main manipulator is the u.s fed who keeps printing 100 billion each month which is why we saw the spike up in DOW/SPI and gold/silver this month(the second spike was proberbly likely due to China's rate hike).
Yes... tangible assets of PMs are the BEST protection in this weak market... why else would entire governments buy large amounts of the PMs. Take a look back in the mid to late 80's when several countries in the middle east purchased many million... billion? dollars of Gold. This is happening now but it's not as transparent because of all of the "clatter" in the market today. I think this type of news is suppressed to keep people from panic. Not sure where you live... but for us here in the USA, the current administration... for the most part has suppressed the BAD news from us. The normal population has NO idea how bad the USA economy is. But us stackers KNOW and we need to make the most of it by stacking DEEP. Yes the fed has the printing press going nonstop, but this is not EXACTLY why the market spiked. There are many factors that pushed the DOW past 12k... like the growing number of NEW investors entering the market (baby boomers), all the new firms pushing ETFs (massive advertising), the rally in the gold and silver over the last 6 months (many new gold highs in 2010, & 85% rise in silver)... and YES... entire governments like China pushing their people to BUY gold and silver. GIANT bubble? in this weak market.
