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 Replies: 31 / Views: 3,580 |
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Pillar of the Community
United States
1126 Posts |
The argument on whether the Government has been involved in price manipulation of Silver is a fore gone conclusion now. If the Government would manipulate it in a coin shortage do you not thing they would do it for something as important as maintaining the U.S. Dollar value? Just Asking. Below is a quote from Lyndon Baines Johnson in July 1965 Threatening people that were hoarding silver coins. "If anybody has any idea of hoarding our silver coins. Let me say this. The Treasury has a lot of silver on hand. It can and will be used to keep the price of silver in line with the value of our current silver coins. There will be no profit in holding them out of circulation for the value of their silver content" Read the entire article named "Don't Hoard Your Silver President Says of Coins" http://news.google.com/newspapers?i...silver&hl=en |
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Pillar of the Community
United States
2424 Posts |
i read that last week! amazing isn't it?
now I want to go back and read old newspapers to see what else they were saying
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Pillar of the Community
United States
830 Posts |
Makes me wonder if the current president would try to manipulate the price of gold by selling Fort Knox gold, if its still there.
They did sell off all the silver stock pile.
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Pillar of the Community
United States
667 Posts |
Edited by mkfarm
07/31/2011 12:00 pm
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Pillar of the Community
United States
1150 Posts |
The government can only manipulate the price downward for a short period of time. Eventually everything will come out in the wash and prices will rise.
And as I said last week when I read about LBJs comments; So...LBJ thought hoarding silver coins was bad, but Vietnam was a good idea?
It just goes to show how truly wise politicians really are.
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Pillar of the Community
 United States
1126 Posts |
Mkfarm,
Great link thank you for that.
It will go a long way in helping people that were not
around or aware of why the Silver was removed from
our coinage.
The Only point I was making in starting this thread was
that a sitting President in a public news paper made the
threat to suppress the price of silver with Government
stocks of silver.
It wasn't just a flashy head line, it was a quote
from the leader of the free world at the time.
In response to a threat of a shortage of coinage
across the country. And what his actions would be
to attack that threat.
Just wanted to clarify my original post
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Pillar of the Community
United States
4008 Posts |
I don't think that anyone here believes that plots, counter-plots, and general skulduggery have gone out of favor in human activities. If something can be manipulated for a gain or a profit, it will be manipulated. Such is the human condition.
It is clear from a lot of evidence posted to the Internet that the silver market has been subjected to any number of manipulations and that the government of the US does not seem the slightest bit interested in investigating it. Instead, they spend their time and our money investigating the oil companies over and over. They have yet to find ANY collusion among the oil companies in spite of all of their investigating. I guess that such things are where one finds them. In any case, if one does not look, one does not find.
A cynic would probably say that if one does not wish to be investigated by congress, then one should "play ball" and grease the wheels from time to time. Money, of course, being the best grease there is for such activities. Even if a "donor" does become the subject of the investigation, a few people in the right places can always steer the investigation into harmless areas. That's how their team "plays ball".
As to the mechanics of silver manipulation, it does not seem to be all that difficult to do. The world silver market is relatively small, so is prone to being moved by very large amounts of money on both the long and short sides. Add to that, the emergence of so much "paper" silver these days. Although there are any number of estimates of the amount of this paper silver in play, they all seem to be in the area of 100 to 1. So, for every oz. of REAL silver out there to be bought, traded, or sold, there are about 100 ozs. of paper silver in the market. Makes one wonder what will happen if more than 1% of the paper silver traders demand physical delivery, doesn't it? Doing that would essentially be like pulling a bottom card from a house of cards.
I've read a number of the prospectuses (prospecti?) for the silver ETFs. Most claim that it is possible to take physical delivery of the silver. Some do not allow physical delivery and state that all contracts will be settled in cash equivalent to the number of contracts traded and the silver price per contract at the time of the trade. Reading the fine print, however, shows that in most cases, physical delivery is limited to VERY large shareholders. If you want to take delivery of 500,000 oz., for example, you can withdraw that from your account at any time. If you have less than that, then you cannot take physical delivery. This seems to be the general case, although the specific wording and amounts for every prospectus are somewhat different.
The ability of the big boys to take physical silver delivery looks a whole lot to me like a safety valve that the JP Morgans of the world will use if ever the paper silver market comes completely unraveled. The big boys will cart off all of their silver bullion, while the little boys will probably be left standing there with that "deer in the headlights" look on their faces and empty hands.
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Pillar of the Community
United States
597 Posts |
but it doent always work obama released half of our oil reserves and it didnt slow the cost of gas. I think the market will continue to love precious metals.
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Pillar of the Community
United States
667 Posts |
I knew you didn't Stewart,I'm sorry if I came over that way. I was in a hurry and didn't mean it to read the that way. Though the thinking behind the drop of silver coins is a little more clear with the link.
Edited by mkfarm
07/31/2011 4:12 pm
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Pillar of the Community
United States
3670 Posts |
Bottom line, if things get bad enough, the gov will come get what ever they need, gold, silver, or whatever. They did it before, just gives them the "o.k.", if they need to again, not they need an o.k.....
Maybe we all should bury it in the worst case situation like the James gang did, and place hidden markers, lol. Man, they have unearthed some amazing gold an silver coins in mason jars, that him and his gang stashed away in hopes of re-starting the civil war....
Edited by Silverhawk74
07/31/2011 3:43 pm
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Valued Member
United States
59 Posts |
always do the opposite of what the gov't says
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Valued Member
United States
397 Posts |
On that same page it talks about problems with low amounts of coins due to hoarding.
As it notes, there were around 6 billion silver coins in circulation at that time, you can't help but wonder where they went....
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Pillar of the Community
United States
830 Posts |
Quote:
As it notes, there were around 6 billion silver coins in circulation at that time, you can't help but wonder where they went.... I think I have my fair share.  |
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Pillar of the Community
United States
1285 Posts |
Quote:
Add to that, the emergence of so much "paper" silver these days. Although there are any number of estimates of the amount of this paper silver in play, they all seem to be in the area of 100 to 1. Is that an absolute or net number (100 to 1)? Also can you site the source? Quote:
obama released half of our oil reserves and it didnt slow the cost of gas NO..double check your source. They released the oil because of what's going in with the "Brent crude oil" market and has nothing to do with "West Texas intermediate crude oil" which is what gasoline is priced off of here in the states..... |
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Pillar of the Community
United States
1126 Posts |
"Is that an absolute or net number (100 to 1)? Also can you site the source?" I am not sure if it is an absolute number or a net number or even limited to 100 to 1 could be 1000 to 1 My bet would be that the number will fluctuate with what ever is most advantageous to those manipulating. With a base of 100 to 1, That is what we have proof of. Source: Jefferey Cristian of CPM Group in video taped testimony testifying in front of the CFTC The Wheels start coming of the cart about the 3:38 point in the tape It is not a long video 5:08. It is worth it to watch the whole thing. He points Specifically to the Silver Market.at 4:06 I had to replay it a few times when I first heard it, Could not believe what I was hearing. This is now a quite famous or infamous depending on which side of the camp you are on. Considered Jeffery Christians 100 to 1 Blunder http://www.youtube.com/watch?v=0NAL0C6BO-4Edited by stewart
08/01/2011 09:19 am
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Pillar of the Community
United States
4008 Posts |
Quote:
Maybe we all should bury it in the worst case situation like the James gang did, and place hidden markers, lol. - Silverhawk Never work, Hawk. The NSA and NRO have probably already got you on hi-res sat cam and GPS, so they know exactly where your stash is buried! Quote:
always do the opposite of what the gov't says - 97guns Does that include when they say, "Pay your taxes"? Quote:
s that an absolute or net number (100 to 1)? Also can you site the source? - Ceylon62 My thought is that it is merely a guesstimate. If you do a Google search for: 'paper to physical silver ratio', you will see many web site references that discuss this. Some of them are touting a 500:1 ratio. I don't know that it is that extreme, though. I doubt that it is at this time. Still, it is not unusual for paper investment volumes to be many times what the actual underlying physical commodity available for purchase can be. This is why a lot of these investments do not allow settling the contracts in physical delivery but only in currency equivalent to the value of the commodity contracts. Stewart posted the URL for the Jeffrey Christian testimony video clip. I had seen this clip before and that is where I got the approximately 100 to 1 ratio. Thanks for posting that URL, Stewart.  |
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Replies: 31 / Views: 3,580 |
Posted 07/31/2011 07:29 am
