Silver Update

Posted: November 18, 2010 in Current Events, Silver

I wanted to give everyone an update on silver.  Now that silver broke through key resistant levels expect higher volatility.  We are witnessing a tug of war between large physical buyers and paper shorts.  Paper shorts like JP Morgan are scrambling, their suppression fraud is now in the open.  Silver vigilantes like Eric Sprott are fed up with this fraud and demanding delivery on their silver purchases.  The bullion banks are using the same strategy they have always used, which is naked short selling, the problem is every time they knock down the price large physical buyers are happy to purchase at a discount.  The bullion banks are doing themselves no favors by knocking down the price.  I expect shorts will continue to cover and prices will propel higher, the physical demand is too strong.

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