SFBayArea
Bronze Member
- Aug 28, 2009
- 2,256
- 31
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- White's MXT
Very Excellent article on silver manipulation
http://opinionator.blogs.nytimes.com/2011/03/02/a-conspiracy-with-a-silver-lining/?hp
Based on the article.. silver has more room to run if JP Morgan and HSBC are forced to cover their remaining short positions. I've read about the silver manipulation and investigations into it and this article has the most detail in terms of how the silver market has been repressed for so long. The report claims that they've only gotten rid of 30% of their short positions. If they were forced to cover all of them, silver would be up to $50-60/oz range which is the natural range since gold/silver had always been at a natural 1 to 15 ratio. I'm not selling my CRH finds until we get to that range.
Politics and bribery aside, if those companies are found guilty of manipulation, they could be bankrupt based on the amount they have in short positions. I don't know whether to buy more silver or short JP Morgan/HSBC stock. However, who knows what could happen when major banks are under fire for their stupid mistakes. Perhaps our government lack the guts to truely punish them fearing these "too big to fail" banks could go under. It's like how Madoff got away with so much for so long. The SEC had no guts to question him and took him at his word.
http://opinionator.blogs.nytimes.com/2011/03/02/a-conspiracy-with-a-silver-lining/?hp
Based on the article.. silver has more room to run if JP Morgan and HSBC are forced to cover their remaining short positions. I've read about the silver manipulation and investigations into it and this article has the most detail in terms of how the silver market has been repressed for so long. The report claims that they've only gotten rid of 30% of their short positions. If they were forced to cover all of them, silver would be up to $50-60/oz range which is the natural range since gold/silver had always been at a natural 1 to 15 ratio. I'm not selling my CRH finds until we get to that range.
Politics and bribery aside, if those companies are found guilty of manipulation, they could be bankrupt based on the amount they have in short positions. I don't know whether to buy more silver or short JP Morgan/HSBC stock. However, who knows what could happen when major banks are under fire for their stupid mistakes. Perhaps our government lack the guts to truely punish them fearing these "too big to fail" banks could go under. It's like how Madoff got away with so much for so long. The SEC had no guts to question him and took him at his word.
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