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A recent article by Max Keiser, in The Guardian exposed JP Morgan's positions in silver, claiming that the bank is acting as an agent of the Federal Reserve, holding down the price of silver, to buoy confidence in the US dollar. “A lower silver price helps keep the relative appeal of the U.S. dollar and other fiat currencies high. By selling massive amounts of paper silver in the futures market, JPM has been able to suppress the price of the precious metal,” reported Scott Rubin for The San Francisco Chronicle.
JP Morgan also holds massive short positions in silver, according to the Article in The Guardian, upwards of 3.3bn ounces. The company is under investigation over silver price manipulation after whistleblowers alerted the CFTC in November 2009. If the price of silver remains high, or goes higher still, JP Morgan stands to lose a lot of money. It all is a self-fulfilling prophecy of sorts, if investors lose confidence in the US dollar and buy more silver, JP Morgan will lose on their short position, causing investors to lose even more confidence in the US dollar, causing them to buy more silver.
On my show, Keiser Report, I recently invited Michael Krieger, a regular contributor of Zero Hedge (the WikiLeaks of finance). We posited that if 5% of the world's population each bought a one-ounce coin of silver, JP Morgan would be forced to cover their shorts – an estimated $1.5tn liability – against their market capital of $150bn, and the company would therefore go bankrupt. A few days later, I suggested on the Alex Jones show that he launch a "Google bomb" with the key phrase "crash jp morgan buy silver".
Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.
Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver on a wholesale level is drying up. The most important indicator is the price itself – holding just under a 30-year high. With each uptick JP Morgan gets closer to going bust or requiring a bailout.
Originally posted by 1BornPatriot
reply to post by mayabong
bitcoin is what > ? its not metal, and its a measure of value thats totally invisible and it trades in fiat currency and you cant spend it freely - metals trade the same as oil as food as bitcoin.... so whats the difference it goes up and down like everything else - it just has nothing behind it exect some process time that has already been expended. I've been around the block - and Metal is Money always has been always will be... over 5000 yrs of history to back that up...edit on 24-6-2012 by 1BornPatriot because: (no reason given)
Originally posted by mayabong
And in that 5000 years has man ever been free from the clutches of moneychangers or governments...... Noedit on 24-6-2012 by mayabong because: (no reason given)
Originally posted by 1BornPatriot
reply to post by 00nunya00
I think its BS if you ask me -- its bits and bytes of zero value once expended. its a number that has no value other than a fiat one, your trading one fiat system you dont control for another fiat system you dont control.
smelling the coffee yet >?
Originally posted by 00nunya00
You want a plan of action to bring the bankers down? Buy physical silver. You want to bring down the fiat economy and expose the fraudulent ponzi scheme? Buy physical silver.
We posited that if 5% of the world's population each bought a one-ounce coin of silver, JP Morgan would be forced to cover their shorts – an estimated $1.5tn liability – against their market capital of $150bn, and the company would therefore go bankrupt.
Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.
[Note: I am nothing more than a well-researched stay-at-home mom, and hold far more rice and beans than silver. I'm just sick of waiting for the hammer to fall and want to get on with it.]
Originally posted by rbnhd76
Why in the wide world of sports would you deliberately try and crash something THAT WE ARE GONNA WIND UP PAYING FOR?