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No physical metals left at LBMA or COMEX to back "paper" gold and silver?

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posted on Dec, 30 2010 @ 03:10 AM
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Great info, star & flag. Physical gold is in critical - shortages to meet investors delivery and the Comex dudes keep giving all sorts of excuses.

Gold is the most valuable thing on earth.. doctors, hospital equipments, scientists, spacecrafts, computer parts.




posted on Jan, 2 2011 @ 01:18 AM
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Every 100 paper gold/silver is dubiously tied to 1 physical gold/silver. Thanks to Andrew Maguire.

We now know JP Morgan is involved in multi-billion international fraud. The biggest financial fraud in human history. It will make Lehman scandal sound like a little boy misadventure.



posted on Jan, 2 2011 @ 01:43 AM
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Ah,that explains why the Chinese are cutting the export quota by 35% this Year...




China, which produces about 97 percent of the global supply of rare earth minerals, cut its export quotas by 35 percent for the first half of 2011 versus a year ago, saying it wanted to preserve ample reserves.


Source



posted on Jan, 2 2011 @ 08:04 AM
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Manipulation in precious metals has been officially highlighted by Ted Butler way back in 1989.

www.scribd.com...

21 years later, today, the financial terrorists are still business as usual despite whistleblowers coming forward.




edit on 1/2/2011 by wisdomnotemotion because: typo



posted on Jan, 2 2011 @ 04:49 PM
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its scary stuff. i have placed an order for 40 oz of silver a few days ago and awaiting their dilivery. i would buy more but thats all i can afford. i think people are catching on. silver has been climing at around 2% a day!



posted on Jan, 2 2011 @ 11:51 PM
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Originally posted by camaro68ss
its scary stuff. i have placed an order for 40 oz of silver a few days ago and awaiting their dilivery. i would buy more but thats all i can afford. i think people are catching on. silver has been climing at around 2% a day!



Silver is great investment right now due to its high yield up direction. I also own a few silver quantity. Yeah we can buy and sell among silver investors and friends.

However, the debate about owning silver among people is that silver is not in exchange demand on the street. Pawnshops here (at least in my country) accept gold ornaments but not silver. The mindset towards gold hasn't change for the overall history of mankind. The fact that masses prefer gold in difficult times.

Our grandparents keep saying "buy gold, buy gold" & "gold does not tarnish" - which are true.




edit on 1/3/2011 by wisdomnotemotion because: better remarks



posted on Jan, 3 2011 @ 05:56 PM
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reply to post by wisdomnotemotion
 


true, but silver is a higher conducter of electricity then gold and copper. silver is used in alot of mondern day tech supplys. ill just hold on to it and see what happens. when i get the money ill be on the gold train too.



posted on Jan, 3 2011 @ 09:16 PM
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Silver

The illustrious TF has been doing a yeoman's job for us, dissecting the coordinated Evil Empire [EE] raids. - Setting Your Watch

And on this afternoon's drubbing in access market. - Thieves and Criminals

To anyone underwater on a recent Silver purchase...not to worry...in short order, the physical market is going to stuff these bloated bozo's like a holiday turkey. It wasn't that long ago when criminal take-downs like today's could damage the market for weeks, if not longer...now we see intraday reversals....running corrections lasting hours, maybe a day or two. This is history in the making, with a"new world order" being established in the precious metals market.

So avast me hearties!

Oh, and try to buy the dips....ok ?

edit on 3-1-2011 by OBE1 because: Light Housekeeping



posted on Jan, 3 2011 @ 11:50 PM
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Originally posted by OBE1
Silver

The illustrious TF has been doing a yeoman's job for us, dissecting the coordinated Evil Empire [EE] raids. - Setting Your Watch

And on this afternoon's drubbing in access market. - Thieves and Criminals

To anyone underwater on a recent Silver purchase...not to worry...in short order, the physical market is going to stuff these bloated bozo's like a holiday turkey. It wasn't that long ago when criminal take-downs like today's could damage the market for weeks, if not longer...now we see intraday reversals....running corrections lasting hours, maybe a day or two. This is history in the making, with a"new world order" being established in the precious metals market.

So avast me hearties!

Oh, and try to buy the dips....ok ?

edit on 3-1-2011 by OBE1 because: Light Housekeeping



I strongly suggest you bring up your observations to GATA and also post them on many different forums including google groups.

I've been monitoring the gold & silver every day. There have been obvious precious metals suppression on daily basis. I'm spechless at how the CFTC and government allowing the fraud to continue.

I guess the criminals are all in it together.


edit on 1/3/2011 by wisdomnotemotion because: better remarks



posted on Jan, 4 2011 @ 08:13 AM
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I've just witnessed serious manipulation/suppression of precious metals few minutes ago.

Gold and silver prices fell at the same time.






Kitco stated predominant selling.




It makes no sense.



posted on Jan, 4 2011 @ 08:43 PM
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Buy the fishing lines (dips)...sell the rhino horns (tops).



Originally posted by wisdomnotemotion
I strongly suggest you bring up your observations to GATA and also post them on many different forums including google groups.


Hi WNE. I've been a GATA supporter for quite sometime now. A great [alternative] method for supporting the GATA cause short of making direct contributions, is by subscribing to Bill Murphy's "Le Metropole Cafe"....some of the best daily precious metals commentary on the web imo (member since 2003).



posted on Jan, 5 2011 @ 12:38 AM
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reply to post by wisdomnotemotion
 


It isn't manipulation. It is either the culmination of a lot of resting stop orders getting taken out or someone with a lot of money.

Regardless, 15 dollars in the GC contract after 2008-2009 is just noise. Do you call it manipulation as well when gold goes up 15 dollars in a matter of second/minutes?



posted on Jan, 5 2011 @ 01:00 AM
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reply to post by Dance4Life
 


You're correct in a sense. However, the main debate here is that those metal traders companies (notably JP Morgan) has not been truthful in the business with investors. The suppression of "paper" to physical gold/silver is 100:1.

When we talk about investors, we talk about mostly the middle class people who bleed their hard earn money to invest in so-called clean system. This is an abuse of trust and daylight robbery.


edit on 1/5/2011 by wisdomnotemotion because: missing words



posted on Jan, 5 2011 @ 08:50 AM
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Another gold and silver manipulation / suppression at LBMA and NYMEX.



Those financial terrorists are doing it again.



posted on Jan, 5 2011 @ 10:01 AM
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Originally posted by wisdomnotemotion

Another gold and silver manipulation / suppression at LBMA and NYMEX.



Those financial terrorists are doing it again.


Good observations and posts by all. My opinion is that we are seeing the effects of selling on the peaks and buying on the dips. Gold and silver peaked before year end and this is the sell off to reap profits by those in for short term gains. This is just fine and to be expected. Happens in stocks, not so much as in the past and is now moving more to metals/commodities. I'm a small time metals investor. I'm in it for SHTF security. And so my advice to myself is don't get caught without physical metal. G&S will rise again in short order. What we are seeing as umpteen times past is a pumping of the market by daytrading type activity. The only way money is made is through transactions. You buy, you sell, you pay fees and taxes. The banksters get paid going up and down. And so to sell, make sure you'll get a substantial payoff to compensate for the fees and taxes on not only this transaction but on the buy that will likely follow. I'm looking forward to adding to my pile in the coming days. Buying on the dip. It will take days for the current panic sell-off to settle. You can watch it on eBay. For instance, Silver Eagles were in the $33 - $40 range for a couple weeks on the latest climb. Not collectable issues of course, mere uncirculated bullion. I expect them to drop to $26 - $30 in a week's time. It will take that long for most of the current panic listings to run their course. And so for the time being, I stand pat. If metals crash, I could be out a few thousand. I don't put all of my eggs in any basket. If the dollar crashes and it has shown signs, my pitiful pile of metal will be worth more than rooms full of paper. Just my opinion and I don't think I'm alone here.

Here's a favorite writer on this subject from yesterday, Franklin Sanders. He posts to this "Goldprice" site every couple of days. As always, "caveat emptor".

Franklin Sanders, January 4th, 2011 post.

Goldprice home page, tracks both gold and silver throughout the day. See the graphics of today's (1/5/11) plunge. Even after hours:

Goldprice

Scroll about half way down the GP home page and you will find in the left hand column "Gold Price Commentary". That's where Sanders posts. I have no connection to this GP website or Sanders. I do not and have not purchased any metals through Sanders.



posted on Jan, 5 2011 @ 10:13 AM
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reply to post by wisdomnotemotion
 


Remember, this is all conjecture at best. I have looked at the reports (from another thread) where a user posted a link. It is impossible to tell actually by the way it is reported.

Not only that, but JPM is the custodian in SLV, so they can have a wide range of offsetting positions. It isn't exactly black and white and it is not that easy to comprehend if you are not familiar.

This is the reality of the situation. I rarely like to "church" things up just because. Most of what you are reading on these topics is 100% opinion. Actually, all of it is. Just remember that.



posted on Jan, 5 2011 @ 02:40 PM
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i think its people taking profets on the metals and getting back into the stocks. yeah what a great idea! get into stocks when the feds are pumping money into the market. people are fixing to lose big



posted on Jan, 5 2011 @ 03:31 PM
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Folks who deny the reality of officially sanctioned price rigging, either weren't paying attention to Gold 9 years ago, or maybe they were simply too young to be involved the markets. Otherwise, they might be familiar with details of the anti-trust lawsuit filed against Barrick Gold Corp and it's bullion banker JP Morgan, by Blanchard & Co in 2002.

Ultimately the defendants avoided a messy disclosure process by settling out of court for an undisclosed amount, but not before Barrick admitted in dismissal filings that it was engaging in [illegal] hedging activities as an agent of the central banks.


Barrick submitted a motion arguing that in borrowing gold and selling it into the market, the company was acting as the agent of central banks and carrying out their policies in the gold market and thus should share their immunity from lawsuits. Full Text


GATA: Blanchard & Co.'s Gold Price-Fixing Lawsuit Against Barrick and Morgan Chase


And as the case proceeded into 2003...low and behold....


Interview with Bill Murphy of GATA: Everything is Exposed

Bill Murphy: Barrick Gold was into the gold price suppression scheme up to their eyeballs and GATA was all over their case from the get-go. We believe Blanchard & Co's out of court settlement against Barrick and JP Morgan Chase (following the suit by GATA's Reg Howe) was a huge victory for Blanchard and the GATA camp. Note what happened in late 2003. One day Barrick Chairman Peter Munk was extolling their massive hedge program and the next day he did a 180-degree reversal (HUH?) ... AND, Barrick's CEO flew to New Orleans the next day where the case was being tried ... unable to make a scheduled presentation in London.

Reuters

UPDATE - Barrick changes policy, drops gold hedging
Friday November 21, 8:19 am ET
By Veronica Brown

LONDON, Nov 21 (Reuters) - Barrick Gold Corp stunned bullion markets on Friday by saying it was changing its hedging policy, and is no longer committed to selling the metal on forward markets as it is now cash rich....
As Canada's biggest gold producer, Barrick is the world's second-largest gold miner by market value and one of the largest bullion producers.

ABOUT-TURN FROM PREVIOUS POSITION
On Thursday, Munk had extolled the virtues of hedging by Barrick, which has one of the largest gold hedgebooks in the industry...Full Text



What's this about JPM possibly hedging their Silver shorts with derivatives written against the metal held in SLV ? JPM is the "custodian" for the Silver ETF...that means they're the warehouse guy. The Silver is owned by the "trust". JPM can't legally encumber Silver it doesn't own, and even if it dared, SLV holds in the neighborhood of 350 million oz, while JPM's short position is estimated to be as high as 3.3 billion oz.

Fugetaboutit.



posted on Jan, 5 2011 @ 03:56 PM
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reply to post by OBE1
 


3.3 billion ounces short, huh? Who's speculation would that happen to be besides silver resellers?

By the way, has GATA ever won any case(s) it has pursued in the past? I don't believe it has. Also, it isn't like the Gold Anti Trust Committee doesn't have any bias. I'm not saying this whole thing isn't possible in some form, but from the data I have seen it isn't even remotely close.

If you look at the CFTC reporting there is absolutely no way to make the calculation one bank, large investor, single entity etcetera is long / short these figures.

If you really do believe this is the case save the CFTC reporting to an excel spreadsheet and please do the calculations and show us. I would be more than interested to see how you come about these figures without speculating.
edit on 5-1-2011 by Dance4Life because: (no reason given)



posted on Jan, 6 2011 @ 02:41 AM
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Given that this is a JPM related thread, someone posting under the name of wynter_bent started a curious thread on the Yahoo JP Morgan board tonight (Jan 5)....

New Year Strategy from Blythe's Former Traders

On another note....


If you really do believe this is the case save the CFTC reporting to an excel spreadsheet...


Scrutinizing the COT data, and/or the OCC's latest quarterly on bank trading and derivatives activities will only shed light on a fraction of the story. FYI....JPM is an authorized market maker in the much larger, LBMA OTC Market. In fact, they're the biggest bull in the china shop (hint)...or should I say bear ? So, anyone interested in parsing bank held, net notional short positions in Silver will need to reference the latest BIS OTC derivatives statistics (semiannual report).

Enlightening mission should you choose to accept it.



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