As I predicted earlier today when Silver was busting out, look for a sharp reversal at some point By: Max Keiser

Posted: November 19, 2010 in Current Events, Silver

Keiser has been all over JP Morgan’s fraud.  We could see some fireworks in silver today.  You can bet any paper push down will be met with strong physical buying.  The JP Morgan silver fraud is over.  Whether JP is punished this month or 12 months from now is irrelevant.  If you are sick and tired of our fraudulent financial system fight back and buy physical silver.  JP Morgan is a big time player and many believe directly connected to the Federal Reserve.  If JP Morgan goes down it will put these scum bags in serious trouble. 

MK: As we see with this chart, the JPM Silver manipulators are selling lots of naked contracts right now jamming the Silver price down – trying like hell to get a sub-$25 print at the close today – an option expiration month (thus avoided having to re-hedge their books on the roll using A LOT of cash – plus the possibility of having to disclose some realized/unrealized losses on their upcoming 10-Q). My understanding is the Silver vigilantes – pumped up with confidence after Andrew Maquire’s recent CFTC testimony blowing the whistle on JPM and HSBC – have spring loaded a major assault for later today. If successful, the Silver vigilantes buying power could take out a whole lot of stops all the way through $30. Personally, I believe the probability of this is pretty good. If the Silver vigilantes are going to be successful they have to step up to the plate today and crush JPM. If not, then all the talk we hear coming out of Sprott and other places is mostly hot air, which is not to say that a failure today would put the kabosh on the ‘Crash JP Morgan Buy Silver’ campaign. Far from it. It just means that we’ll have to be a little more patient. For anyone interesting in speeding things up and putting JPM six feet under – buy some ounces of physical. Every ounce off the market puts another Silver nail in JPM’s coffin

 

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Comments
  1. Hoser says:

    Bought more bullion from APMEX. 1100 Oz’s total. Suck on that Blythe……

    Hoser

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