Friday, February 11, 2011

Two Boise Silver Dealers Go All In, Banker Manipulation Continues

Yesterday, I went shopping for 10 oz. silver bars. I habitually lurk around three joints on Overland, Rose Hill, and State. Two out of three of these dealers were out of silver in virtually all large sizes. Gone.

The third one may be out as well. I just didn't get there in time to find out.

The Rose Hill guy told me that he wasn't even going to order any more silver. His premium over spot price was getting ridiculously high. I have never seen this kind of supply demand disruption with essentially no corresponding rise in price. http://www.zerohedge.com/article/silver-bullion-backwardation-suggests-supply-stress

Somebody has repealed the laws of supply and demand. Fucking banks are manipulating the paper price with enormous leverage. They are probably using Bernank's counterfeit money to do so. (permanent open market operations, 7-9 billion flooding in today alone)

How do we know it is the banks? Please read this question and answer that I snipped from the comments over at Harvey Organ's joint.



Harvey, You commonly point to heavy selling pressure as being due to a raid by the bankers. How do you know that the bankers are doing the selling and not hedge funds, small speculators or other non-banking interests. Thanks!
Anonymous said...
love your blog... must read every night.. can the fed trade their t bonds for land or resources when we can't pay there interest??
Harvey Organ said...
we know its the bankers by the COT released tomorrow. it shows how many short positions the bankers added or reduced. the suppliers of the non backed paper is certainly not the mining companies as they have stopped hedging. that leaves 3 groups: 1. large speculators that can be long or short 2 large commerials. those near the physical metal generally go long as they sense the shortage of metal. those commercials that are always short like JPM and HSBC always supply the paperm and are subject to the criminal class action lawsuit. and the third group are the small speculators and they are not much of a force. the hedge funds are generally long and they fit into the large speculator category. all the best Harvey **Today, I am going to buy more silver somewhere. I'll tell you how crazy I am. I am thinking about contacting a few well connected friends of mine and go into a little paper silver and stand for physical delivery. If offered some enormous cash premium at settlement, I would refuse.  Deliver the goods. I have a feeling that they cannot stretch this rubber band forever without it snapping. The backlash is going to sting like hell. But wtf, it's all funny money to them anyway.

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