And after that testimony there comes this very shortly afterward
in which Jefferey Christian of the CPM Group confirmed that gold
is leveraged around 100:1 at a Commodities Futures Trade Commission (CFTC) Hearing on March 26, 2010.
This means that there are around 100 claims for each ounce of gold in existence and so not enough gold
to be delivered to everyone who has been promised paper gold.
Had to freak people out that thought they owned physical metal
with the purchase of those contracts
And people began demanding delivery of their metals. Which
when delivery time came means the seller either went onto the
open market to buy it or offered the customer a premium for
taking cash which being around 30-40% or more.
That has Gotta hurt the bottom line.
My thinking is once people learned of these incidents is when the
price for physical metal began to separate from paper metal
somewhat until you get to the point where we are today
and you have an 2 unprecedented events in my eyes occur.
1.
APMEX sends an e-mail out stating that they are willing to
buy Silver at $3.00
over spot price to me that is the price of physical silver versus spot being
paper metal
all I can say is wow to that
When a player such as
APMEX is having a hard time filling orders
the metal is getting seriously hard to find in quantity.
2. Ben Bernacke The Chairman of the FED for the first time
is pressured to give a press conference to reassure the people
that everything is just fine. That alone scared the $#%@ out of me.
Reminds of of just before the crash of 08 when the hearings on the
hill were going on and we were hearing basically the same thing.
Now it is actually a press conference Holy Moly it must be getting
out of control in those hallowed halls of the Federal Reserve.
Now those big short players are starting to get squeezed because
they try like crazy to get the price to drop and panic silver buyers
to dump their silver in a panic driving it down lower and
it does not work when we all now what they are trying to do
And the world now just takes it as an opportunity to
buy on the dip.
Short sellers are now screaming that there is a Buy Side
Conspiracy to crash the short market
http://seekingalpha.com/article/265...r-conspiracyWhen the whole world is now onto their DECADES LONG price suppression
scheme and every one just keeps buying. And will keep buying
until Silver finally finds it's own natural price.
Which in my opinion is much higher than where it is now.
First Page
Posted 04/28/2011 2:32 pm
