This is something that I feel needs consideration, it's my summary over the silver market for the next two weeks. Silver at Fridays close was $37 dollars an oz. On may 1st of this year it reached around $48 then dropped to the low 30's over a 4 day period. The reason why it dropped was because of price manipulation, they effectively dropped a paper bomb on the market, several thousand contracts were dumped causing the price to plunge 13% percent in the space of 15 minutes That's a fact you can read the details in this report.
http://www.bullionmark.com.au/gold-...per-Monopoly-Over-Silver-Price-Discovery.html
What I feel will happen is that all the fear about defaults will be quelled due to the talk of more bail outs for Greece and the American dept ceiling will be quelled by the fact that they have sorted it out by adding more loans and there for making their interest payment demands, this will cause people to get out of the safe haven of precious metals and cause the prices to drop and since it is in the banks best interest to keep the price of silver as low as possible I can see them dropping another paper bomb on the silver market to crash it below the 30 dollar floor but this won't happen till after the second of august. So from now till then silver will creep up and then crash, which will be the time to buy bullion not paper silver.
China has had a silver economy for the last six thousand years, it's only since 1935 that they were forced off it by the Americans. China at the moment has just added a new precious metal exchange that is set to challenge the comex. The Chinese government has been buying the stuff at a great rate of knots and has instructed it's people to buy silver and gold and have also set up gold bullion savings banks. Silver as a monetary system is imbedded in the DNA of the Chinese people. Think about all those peasant coins stuffed under the mattress all across China.
The best thing for Greece to do is to default and leave the EU and kick out the banks and take on the model that the Icelandic government has adopted which by the way is the way they were before they were raped and pillaged by the bankters. Since then they are on the way to recovery with manageable debt them and are back on track as being the most developed country in the world, with a people friendly banking system and government.
The next week is a confidence trick, because the only thing that backs our monetary system is confidence and once that's gone the gig is up! On our way to a gold standard, maybe. Maybe that's what they wanted all along, a gold standard won't help us if all the banks hold the gold but what will help us is a gold/silver standard.
What your watching now is the legal theft of Greece's gold 110 tonnes by securitizing there countries assets as part of the deal in the new bail out, but that's small bickies compared to the real target of Italy's Gold 2400 tonnes!
My question is, is this a fair summation as to what's going on?
Thankyou.
http://www.bullionmark.com.au/gold-...per-Monopoly-Over-Silver-Price-Discovery.html
What I feel will happen is that all the fear about defaults will be quelled due to the talk of more bail outs for Greece and the American dept ceiling will be quelled by the fact that they have sorted it out by adding more loans and there for making their interest payment demands, this will cause people to get out of the safe haven of precious metals and cause the prices to drop and since it is in the banks best interest to keep the price of silver as low as possible I can see them dropping another paper bomb on the silver market to crash it below the 30 dollar floor but this won't happen till after the second of august. So from now till then silver will creep up and then crash, which will be the time to buy bullion not paper silver.
China has had a silver economy for the last six thousand years, it's only since 1935 that they were forced off it by the Americans. China at the moment has just added a new precious metal exchange that is set to challenge the comex. The Chinese government has been buying the stuff at a great rate of knots and has instructed it's people to buy silver and gold and have also set up gold bullion savings banks. Silver as a monetary system is imbedded in the DNA of the Chinese people. Think about all those peasant coins stuffed under the mattress all across China.
The best thing for Greece to do is to default and leave the EU and kick out the banks and take on the model that the Icelandic government has adopted which by the way is the way they were before they were raped and pillaged by the bankters. Since then they are on the way to recovery with manageable debt them and are back on track as being the most developed country in the world, with a people friendly banking system and government.
The next week is a confidence trick, because the only thing that backs our monetary system is confidence and once that's gone the gig is up! On our way to a gold standard, maybe. Maybe that's what they wanted all along, a gold standard won't help us if all the banks hold the gold but what will help us is a gold/silver standard.
What your watching now is the legal theft of Greece's gold 110 tonnes by securitizing there countries assets as part of the deal in the new bail out, but that's small bickies compared to the real target of Italy's Gold 2400 tonnes!
My question is, is this a fair summation as to what's going on?
Thankyou.
PMs could sky rocket! But I am sure an agreement will be reached in the next couple of days.
