Silver

[samiam]

Here is a quote from the thread

"This is 1000 times greater than enron and makes enron look like shoplifting"

If half of what is being talked about is true this story would make a great james bond movie

What do you think stephendare

[samiam]

Here's another quote

"I couldn't agree with you more. You have left me speechless, lol. But yes this will probably be looked back at as the biggest event in financial history. All we have to do is sit back and wait. Could take a week, a month or a year or more, but the day is coming that this will end"

[samiam]

Looks like the story might be reported by the main street media soon

http://www.nypost.com/p/news/business/jpmorgan_chase_story_in_uk_DsMN4PnXFoQG5KdevIsQ7N

[finehoe]

http://www.huffingtonpost.com/janet-tavakoli/how-to-corner-the-gold-ma_b_518800.html
   
How to Corner the Gold Market

First, let your greed overcome all regard for the stability of the global market, and overcome your aversion to illegal activities. Stay away from people like me, and fly under the radar, because I'd like to see you thrown in jail. Most Washington officials, regulators, and Wall Street managers are probably safe to hang around, especially if you cut them in for a piece of the action or give them vague promises of a future lucrative job.

Pump up the gold story. Get your friends to tell retail investors to buy some gold every month. Get your buddies in the financial business to offer exchange traded gold funds (ETFs) that claim to buy physical gold. This will sound safe to retail investors, but in fact, the ETFs are very risky. This will serve your purpose when you are ready to start a panic. These particular ETFs will allow the "gold" to be commingled with the custodian's gold, and the custodian can lease out the gold. Moreover, the "gold" custodian can give it to a sub custodian that the manager doesn't know. The sub custodian can give it to yet another sub custodian unknown to the original custodian. The manager will never audit the gold, and the gold is not "allocated" to a particular investor. Since this is an "exchange traded" gold fund, investors will probably assume the gold is regulated by the Commodities Futures Trading Commission (CFTC), but it isn't. By the time investors wake up to the probability that there is very little actual gold backing their investment, your plan will be ready to execute.

Now you are ready to execute your plan.*

Step 1: Let everyone in the futures markets know you are buying gold, speculating in gold, and want to take physical delivery. It helps that China openly announced it wants to increase its gold reserves; the market isn't looking too hard at you. At first, act like you're naïve. Buy on margin and pyramid up by reinvesting your profits when you have them.

Step 2: Get the banks to let you finance your gold.

Step 3: Book up all of the space at gold refiners, so that no one else can do it. Buy as many gold mines as possible.

Step 4: Create credit derivatives contracts that give you the option to ask for your pay-off in gold.

Step 5: Pick the future month to make your big move. You will go long gold futures and demand physical delivery.

Step 6: Secretly and habitually start making some large early purchases in non-U.S. markets. That way, when the U.S. markets open, gold should follow the upward trend.

Step 7: The bullion banks and dealers that have over-hedged their physical gold with short positions will now be squeezed and have to make margin calls. Offer to cancel some of your forward contracts in exchange for early delivery of gold. This will temporarily relieve the bullion dealers' pain on their short positions, and give you control over even more of the gold supply.

Step 8: You and you friends have pinched off the gold supply and control most of the free gold supply having locked it up in your own vaults and warehouses. You are all long a lot of futures contracts, and you will all demand physical delivery. You now have the naked shorts exactly where you want them.

Step 9: Rely on bankruptcy and bailouts to get what you want. Normally, you would be afraid that you would never get paid, because your demands would bankrupt the naked shorts. But the naked shorts are likely to be unwary hedge funds or other sophisticated investors, and no one cares if you bankrupt them. Other naked shorts are likely to be the bullion banks, and they are all being bailed out by the Central Banks who will lend them what little gold they have left and then beg the IMF for whatever they have.

China is a wild card. If it is not part of your scheme and decides to lend its gold, it could dampen your profits or even upset your short squeeze. But China may not want to help out your victims. Why should they? If China buys enough gold mines and increases its reserves enough, it may be in its interest to befriend you. Your combined ownership will have made the futures markets irrelevant. Together you will not only have cornered the gold market, you will have cornered gold.

Note: This post was shortened and adopted from a longer article distributed by Tavakoli Structured Finance, "How to Corner the Gold Market," March 30, 2010.

* The Hunt brothers used a similar earlier strategy in an attempt to corner the silver market in 1979-80 as recounted by Stephen Fay in The Great Silver Bubble (Coronet, 1982).

[samiam]

finehoe

From what I have read on the subject that is what has been going on for 40 years plus but the purpose is not to make money from the metals them self but to reduce the faith in them as they want to hold the world to a dept based system. The "Friends" are not only JPM but all the world banks.  I think there pissed that someone might have thrown a wrench in the works. The biggest unknown with this scenario is the silver market as no one knows how much or how little is out there. There are quite a few people on the internet trying to figure it out but every web sight you go to shows a different amount. The U.S. stock pile ( That was the biggest in the world, We are now buying on the open market) is used up.

As the old saying goes he who owns the gold (and silver) makes the rules

[samiam]

Here is an audio update

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/31_GATA_files/GATA%203%3A31%3A2010.mp3

One thing that was said that I find interesting was that all the major U.S. media was scheduled for interviews but they all canceled but Russia didn't. Kind of makes me say Hmmmm

[samiam]

I kind of agree with this statement

Some guy a mid-level executive type guy, a middling illuminati errand boy if you will, decides he's gonna send a message to Maguire or outright kill him. Sends out the assassin who does his thing (could have intentionally been non-lethal to send a message). As soon as operator level PTB get wind their junior employee has made this huge mistake they go into overdrive. Killing the story in the media everywhere they can, getting interviews cancelled and doing Denial of Service attacks etc. They now have Easter weekend to figure out how to character assassinate Maguire.

[samiam]

since this story first came out the price of silver has went from $16.60 an OZ, 03/26/2010 to $17.95 an OZ today at 2230

this is from the kitco forum

This is an oldie but goodie from Jim Willie May 09. "Hitmen cometh" This is basically the scenario that Maguire is predicting.

http://www.silverbearcafe.com/private/05.09/hitmen.html

Tremendous disruptions are coming. Price discontinuities are coming. Price chart patterns might be rendered useless soon. Last week, the case for a grand Paradigm Shift was made, covering many elements in order to paint a mosaic. Taken in isolation, any one point is important in its own right, but not enough to convince of a structural change. Taken in entirety, the many points create a full picture that is more easily recognized. The ruinous events of the Wall Street banks last September and October surely served as an extreme event loaded with profound disruption. The Chinese have proceeded with a transition to yuan-based domestic banking, with an installation of yuan swap facilities around the world, with an ASEAN regional fund again supplied by yuan for flexible purposes, with permission granted to two Hong Kong banks to sell yuan-based bonds, with an admitted rise in significant gold bullion reserves, and with continued verbal battles over legitimacy of the USDollar as the global reserve currency. These Chinese initiatives in recent weeks, occurring rapidly, are serving as a collective extreme event with the potential for profound disruption. A gold-backed yuan currency would surely cause massive disruption in a climax merger of events. The barter system set up between Russia and Europe will bypass the US $-based settlement system, as will the barter system set up between Russia and China . The avoidance of contract settlement in USDollars would result in extreme disruption to the global banking system. The creditor nations are plotting to organize and launch alternative currencies, maybe to fortify existing currencies (like the euro or yuan or ruble) with a gold component, maybe also with a crude oil component. A challenge to the USDollar by asset-backed currencies would result in extreme disruption to the global banking system. The hidden nitroglycerine to the disruptions is the Russian military, and any pledges of support for nations attempted to force systemic changes. These are just some important examples of change agents.

All Paradigm Shifts result in extreme disruption. That is the essence of Paradigm Shifts. The entire table changes, like its shape, its seats, its location, even who sits at the table, and in particular who sits at the head of the table. Big disruptions are to come from the COMEX pit of corruption, the central nexus for controlling illicitly the price structure for gold, the USDollar, and the USTreasury Bonds. The COMEX in all likelihood is the weakest link in the US-UK chain of corrupted financial markets. For many months my view has been that gold fights the political battles, while silver gathers more than its share of rewards and spoils. Gold has a long history of experience fighting grand battles. It can be placed in dungeons, but not for more than a couple decades. The rot in financial systems without golden foundations forces gold to the surface!

The Hitmen Cometh
It has come to my attention that several private parties have accepted contract assignments to neuter the COMEX and London Metals Exchange, to render ruin to its gold market. That bears repeating from the rooftops. MUTLIPLE HIRED HITMEN HAVE ASSIGNMENTS TO KILL THE COMEX GOLD MARKET. That is the lynchpin to control the USDollar, the USTreasurys, and the corrupt mechanisms used by the New York and London syndicates. Their clear criminal behavior is beyond the reach of law enforcement, but they are not beyond the reach of hitmen. The USDollar has been in violation of the US Constitution since 1971, perpetuated by a renegade series of administrations. The global creditors for the USTreasury Bonds are so angry at the past suffered losses, the prospect of deep future losses, and the corruption laced throughout the US financial system, that they have hired third parties to kill off the US$-gold platforms, to destroy the burdensome banking ballast dominated by protected entrenched fraud experts, to lay waste to the vehicles used by the US-UK bond trafficking syndicate totally saturated with corruption, dishonesty, and collusion, replete with greed, totally absent conscience. They have systemically been dismantling the COMEX pillars and levers over the last several months, quietly and without fanfare, surely without publicity. If gold investors knew of their actions, they would become much bolder. Some want the bankers in their gunsights not to be warned. They await their fate with the Financial Grim Reaper. Their executions will be as swift as brutal.



The HITMEN have been hired, with highly lucrative contracts and wide berth in methods to be put to use. Their assigned task is to castrate the levered family jewels from some of the major players who illegally keep the gold price and silver price artificially low. The targeted victims know their awaited fate, and are presently defecating in their skivvies. A short list of banks facing the firing squad is already known, details for Hat Trick Letter members. Some detailed speculation will be devoted to the June HTL reports, since too controversial. This will be an evolving story, with new chapters soon written. The executions will be sudden. The missing US-UK levers will be immediate. Since last autumn, the global powers have aligned against Wall Street, even if the central bankers have supported it. If one wants to destroy a building, then weaken its pillars, cut a few support beams, then rush in a crowd of people, and wait for a turbulent storm. In the case of the COMEX, the wicked players will crowd the corrupted building. They will sink into ruin and then oblivion. They might become objects of mockery when they make noises from prison. If lucky, they will join Ken Lay from Enron fame in a remote Caribbean island where other favored operators live a secluded life, but a life nonetheless, complete with plenty of sunshine, fresh air, beaches, bikinis, and sailboats, but no intrusive cameras. Please, do not disturb the quasi-dead!

The financial cartel dominated by the United States and United Kingdom is soon to suffer some serious blows. The list of their financial crimes is as magnificent as it is long. Its list of victims is as prominent as it is long. The harbored resentment is great by many global players. They waited patiently for the Obama Admin to install a new group, but the old group remains due to a revolving door from the same smoky club, dominated by Goldman Sachs once more. Their influence, if not bribery, of the USCongress is in continuation, sufficient for unwanted obsequious approval. The regulatory agencies are from the same encrusted chambers replete with stench. The Coup dââ,¬â,,¢Etat of the USGovt financial offices has not changed with Obama, who sounds like a refreshing leader but who is actually a marionette under control by those who selected him, favored him with publicity, then enabled his election. Nothing has changed except the rhetoric of change and the pace on the path to bankruptcy for a few icon firms like General Motors and Chrysler, if not the desperate cries from the 50 states suffering from insolvency. More prominent failures will follow, since nothing has been remedied. The channeled funds directed to Wall Street firms continue unabated. The bread crumbs to Main Street and the people continue unabated. Even the war continues unabated. Forget not that Marie Antoinette once said ââ,¬Å"Let them eat cakeââ,¬Â before the French Revolution and the Storming of the Bastille. Today, the Bastille is the entire USEconomy where insolvent Americans are stuck.

Some might wonder what was the turning point that resulted in hired hitmen to be under contract against certain US financial markets. Some might say the failures of Lehman Brothers, American Intl Group, and Fannie Mae. Not so! In my opinion, it was the invasion in the South Osettia region of Georgia in August 2008. The events around Georgia , with the United States Military deeply involved, along with a certain tiny mischievous ally nation, lit a fuse that set off a chain of events. In time, events led to orders given by high level powers, for the US fraud kings on Wall Street to swallow the medicine no later than first thing Monday morning on September 15th. When the Jackass inquired as to the nature of the urgency leading into that understood stated deadline date, no answer was given. The guess of the Bank For Intl Settlements was submitted by me, and it was confirmed. Other sources, the USTreasury Bond creditors, also applied the pressure, it was told. Rumor was thick that death threats had been delivered to certain Wall Street executives, such as Paulson. Thus the pressure passed on to the USCongress for passage of T.A.R.P. funds. The disbursement of those funds have not been made public partly because Wall Street (read Goldman Sachs) does not want the US people to be aware of payoffs for bond fraud under death threats. Also, the Congressional Inspector has cited a few dozen recommendations for criminal fraud investigations of the same T.A.R.P. funds. The US financial sector has become a den of vipers, no longer the bastion of gentlemen, but rather of syndicate bosses..........................read the rest at the above link

[samiam]

The market are so hidden from the public its hard to figure anything out. If this Maguire fellow turns out to be genuine I think we are in for a big change.

speaking of the gold market you might find this interesting

http://www.youtube.com/watch?v=CBJfWkENhr4

[chipwich]

I know this is an old thread, but just wanted to bring up that silver and gold seem to be doing very well in our world of sustained quantitative easing.  Silver is closing in on $21/ once, gold is at $1,290 and may reach $1,300 this month.

I fully expect silver to meet my prior full year target of at least $22/ oz (as posted last December).  I don't see it going much higher than the low $20s this year as the recovery seems to be sustaining itself and further QE seems like it will be introduced in smaller increments.  Expect gold and silver to stabilize over the next 2-3 months.  If we maintain at least 2% GDP growth, then precious metals probably will not move much.  Should GDP growth drop below 2% (sustained), then expect gold to reach towards $1,500/once and silver towards the $25-$28 range /ounce.

[CS Foltz]

Good take chipwich............I think your right! Where oh where are the "Hunt Brothers" when you need them?

[samiam]

I have been looking for information on the posts i did earlier in this thread but it seems to have been down played.

[kathy Jackson]

Silver is one of the most misunderstood investments in the world..........BUY SILVER    NOW!

[Dog Walker]

Too late!  Upside potential is a lot less now than it was two years ago.

[kathy Jackson]

Dog walker......."they" said that in 03, 04, 05. 06, 07, 08, 09, 10, 11.
So buy real estate.....then.