I felt I must step away from the SEC Championship game to post this link. Not only is it one of the funniest things I have seen in a long time ("JP Morgue"), it is also 100% accurate, IMHO. Please take seven minutes to watch this. You will not regret it!
http://www.youtube.com/watch?v=Gl47z2g2EvI&feature=player_embedded
Turd don,t know if you,ve seen this its on the Daily Telegraph website.Interesting thing is that for years China has been stock piling huge amounts of Copper,don,t know how they are going to feel about being squeezed,also if they start to release stockpiles onto the market they could take down JPM theoretically,so sure will be an interesting week.
ReplyDeleteJ.P.Morgan purchase £1 Billion of Copper on LME,50 - 80% of Copper reserves held yesterday.So totally in the crap,trying to corner the Copper market to counterbalance ? See the Telegraph website for story.
BIG STORY
---------
American investment bank bought up more than half the copper on the London Metal Exchange, pushing the spot price to its highest level since the financial crisis in October 2008.
THEY ARE IN SO MUCH TROUBLE THEY ARE TRYING TO CORNER THE COPPER MARKET TO TRY AND GET OUT OF IT.
My question is this: it's of course possible to see what sort of price action has gone on. But, how is it possible to determine who has been responsible for it? I.e., how id the original source of this information know that recent bids in copper were placed by JPM?
ReplyDeleteThe source is not dicslosed but if you go to the Daily telegraph you can read the full article on-line.Also include the following from "Harveys Organ" which I find very interesting with regards JP Morgans supposed shortage of 3.3 billion ounces of Silver which is becoming more imminnent.Will be a very interesting week,
ReplyDeleteBefore proceeding, many have asked me how many oz of gold and silver are really short. That is the 64 million dollar question but I will try and give you an approximate answer. In silver, Ted Butler believes that the total short position by the bankers is 3 billion oz. The comex for sure is 500 million oz short, but we must also include the silver deposits written by the bankers for many unsuspecting investors. This must be about 1 billion oz and then we have the OTC market between the bankers and this is estimated to be around 1.5 billion oz.
Butler estimates that we have no more than 300 million oz of silver left on the planet. With the price of 29.00 dollars the total market price of this silver is 8.7 billion dollars. With a shortfall of 3 billion oz, and a cost base of say 7.00 dollars to the bankers, we multiply 22.00 dollars (the loss) which will give us 66 billion usa dollars lost. The leverage in the marketplace is 66 divided by 8.7 billion or 7.5 to one. However much of the silver is in private hands and not in the dealers hands. Jeff Christian of CPM metals estimates that the leverage that the bankers use with silver in their possession is 100: 1. Now you can see the danger the bankers are in as each silver oz is withdrawn by customers. The bubble of shorts is so big that it cannot be covered.
Further as people take possession of more physical that 100/1 becomes 500/1,then 1000/1,then 5000/1,etc,the price shoots up and JPM will find it more and more impossible to cover their losses.
ReplyDeletejust thinking out aloud;
ReplyDeleteIf by procuring just HALF the metal owing, the cartel tripled the price, then the cash settlement of the other half would be a bigger cost than settling in cash in entirety, at the original price.
Following that logic further, any physical silver in their possession could be used to flash crash the price for subsequent buyers, at a time when the appropriate market price for cash settlement was being determined.
Although this wouldn't reduce their ounces liability, it would pummel their liability cost per ounce.
We can expect all kinds of chicanery going forward.
I totally agree,from here anything could happen,we are lookig ultimately at the survival of the entire system.To view objectively we must begin to understand this is becoming a whole new ball game in which anything that has no intrinsic value is becoming generally worthless to varying degree,s,the entire system is becoming unstable and once the herd mentality takes full effect anything could happen as the elites lifestyles,power and wealth become affected.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI've read many posts throughout the internet that this video is:
ReplyDelete1) half-truths at best
2) deceiving
3) advertising
4) inaccurate
Let me just say, for all you Turd followers out there, new and old, I LOVE THIS VIDEO! I wish I had made it. That the producer thanked and dedicated it to Harvey Organ makes it all the better.
My investing success and the success of this site will live and die with the "theory" proposed in this video. I believe it to be nearly 100% accurate.
More later today. TF
And this video has been viewed 2x more. Jamie Dimon may be hedging w/Copper at this point, but IDK if it'll help him sleep better at night. A few more grey hairs, yeah, just a few more *lol* http://www.youtube.com/watch?v=pItsaMSmcPQ&feature=related
ReplyDeleteDear Turd Ferguson
ReplyDeleteMy Hero. Thank you very much for informing us. The public is waking up.And you helped a lot.
Truly appreciate you.
Frankly, tho i own a little silver i would as soon have none if we could just have honesty and equal justice for all.