Buried over at CNBC, had to find it by searching under "silver", but the story itself is explosive and neatly highlights what the current deal is.
It isn´t even listed in the commodities section, and that alone says it all. Buy metal before this timebomb explodes. It is going to happen.
Silver Short Squeeze Could Be Imminent
FORT LEE, N.J., April 3, 2010 /PRNewswire via COMTEX/ -- The National Inflation Association today issued a silver update to its inflation.us...
members: On December 11th, 2009 NIA declared silver the best investment for the next decade. In our December 11th article, we said that it wasn't a
coincidence that the very day Bear Stearns failed was the same day silver reached its multi-decade high of over $21 per ounce. We went on to say,
"The reason why we believe the Federal Reserve was so eager to orchestrate a bailout of Bear Stearns, is because Bear Stearns was on the verge of
being forced to cover their silver short position." JP Morgan took over the concentrated short position in silver from Bear Stearns and gained
complete control over the paper price of silver. Within weeks, JP Morgan was able to manipulate the price of silver down to below $9 per ounce.
NIA believes they were able to drive the price of silver down through "naked short selling," selling paper silver that is unbacked by physical
On February 5th, we witnessed another sharp decline in silver prices, which NIA described on February 7th as being "just a temporary wash out, before
a huge surge in silver prices later in 2010." Since then, silver prices have rebounded by 18%. The temporary wash out that occurred on February 5th
was predicted by independent metals trader Andrew Maguire, who came out this week exposing the fraud that is taking place in the paper silver
On February 3rd, Andrew Maguire wrote Eliud Ramirez, a senior investigator for the CFTC's Enforcement Division, giving him the "heads up" for a
"manipulative event" signaled for February 5th. He warned the CFTC that JP Morgan was about to manipulate down the price of silver after the release
of non-farm payroll data on February 5th. Andrew said that the takedown would happen regardless of if employment was better or worse than expected and
the price of silver would be flushed to below $15 per ounce. During the next couple of days, silver was crushed from $16.17 per ounce down to a low of
$14.62 per ounce.
Despite all of the evidence given by Andrew Maguire to the CFTC of gold and silver manipulation, Andrew wasn't allowed to speak at last week's CFTC
hearing on limiting gold and silver positions held by banks like JP Morgan. Bill Murphy of the Gold Anti-Trust Action Committee (GATA) was allowed to
speak (within a five-minute time constraint) and present some of Andrew Maguire's evidence, but right when his presentation began there was a
technical failure of the live television broadcast, which was mysteriously fixed as soon as he was done speaking. Bill Murphy was scheduled for
several mainstream media television interviews after the CFTC hearings, but they were all abruptly cancelled at once.
A couple of days after the CFTC meeting, Andrew Maguire and his wife were involved in a bizarre hit-and-run car accident in London where a second car
coming out of a side street struck their vehicle, which resulted in a police chase using helicopters and patrol cars before the suspect was nabbed.
Andrew and his wife were released from the hospital with minor injuries. (NIA does not believe in conspiracy theories but when you consider that this
is a potential multi-trillion dollar fraud that could bring down the world's financial system, it really makes you think.) The silver market provides
a window into what is happening in the gold market.
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