Bill Murphy’s London Source: “Silver & Gold Will GO NUTS in August!”
Our friend Sean from SGTreport.com has released a breaking report with GATA’s Bill Murphy regarding the story we broke earlier Thursday on JP Morgan having extreme difficulties extricating themselves from their massive naked short silver position- which we speculated could be related to the impending resolution of the CFTC’s investigation of silver manipulation.
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“one of the wealthiest men in Europe”
”‘SILVER AND GOLD WILL GO NUTS STARTING AUGUST! BIG, BIG gold and silver moves are coming this August”
hmm. Upwards or downwards? A shakeout?
I bet a shake-out first. Kind of expected it already, but in stead we seem to have gotten a period of minimal volatility.
I doubt there will be much fysical to be had during the shake-out I am afraid. At which levels (of volatility) will wholesalers just shut dealers down, and we’ll see premiums going up at the same rate as prices drop? I am tempted to consider the paper game again. Be ready with some shorts, and then try and be quick enough after the spike down to go back up.
Shaking out fysical owners will be much harder than shaking out some paper longs. A spike of a few hours should do the trick. I doubt I’ll even get the news in time to trade on it. So, I’ll just keep stacking best I know how.
Interesting, i seem to recall pastor lindsay williams stating some mnths ago that the inside information he gets from a source inside the globalist circles claims that they want silver up to 75 dollars by the end of this year.
perhaps they are going to use jpm as a sacraficial goat, they seem to like eating thier own as much as screwing everyone else, guess we’ll find out soon enough.
silverwulf: can you find the source? if “they” want that i can see no other reason than to kill JPM.
I would be very careful with the paper. I’m currently trying to get out of my paper position for good without getting killed. If the silver manipulation is starting to hit the presses like we’re are seeing signs of – then a shakeout could be veeeeery difficult to perform. Once the sharks smell the blood in the water I would not want to be caught on the wrong side of the trade.
There was a recent article that spoke about the Fed and the government willingness to shut down money market accounts, forcing the money market firms to refuse disbursals if there is a perceived ‘run’ on these accounts
Even with the pathetic returns of 1/10 of 1 BPS, a run could force the money market firm to sell assets. Most of these funds are invested in the short term paper of firms such as domestic and international banks. Selling that paper would absolutely assure a loss since the RUN on the money markets invested in the paper of these risky banks are the same weak banks who would see a simutaneous run on their own banking deposits, such as is going on in Europe today. Many of the banks who’s paper shows up in the MMAs are some of the most illiquid banks with the worst rating.
This would create a contagion that crushes the money market value of accounts. None of those accounts are insured by the FDIC. I could imagine these supposedly liquid investments end up not just breaking the $1.00 barrier but losing double digit percentages of value as the money market managers try to liquidate, furthering the run. And due to the run, you won’t be able to access your funds. It happened in 2010 It is even more likely to happen today.
Bill Murphy’s word is gold (no pun intended). He could get fed misinformation though. Can’t wait to see how this plays out.
I will believe the CFTC will do something when I see it. They haven’t even implemented position limits set forth in Dodd Frank that were mandated by law for January 1, 2011. Despite the fact that they actively police position limits in other commodities. They have watched blatant silver manipulation for years and done nothing. The only way they will do anything is if the Morgue decides to go long.
Croc- you are right. The CFTC is in the business of customer relations. That is why they occasionally bust some minor players, to toss us a little red meat from time to time. As far as going after the owners, well, don’t hold your breath.
Srry widget, i was listening to alex jones interviewing lindsay williams some mnths ago on his radio show when he stated them wanting it going to 75 dollars by year end, pastor williams will only refer to his source by a letter such as mr x, however he has been bang on with oil prices and other stuff from these globalist insider sources in the past, so all i can suggest is to look him up on the net or keep an eye out for him at infowars, he’s pretty long winded and really beats about the bush which i don’t like, but if the intel is good i’ll always listen.
I dont recall his site and just tune in when he’s a guest on aj’s radio broacasts, i do the same with a no. of other guests alex has whom i dont like to miss if i can help it, DAMN i really miss bob chapman on fridays (R.I.P bob).
@conax. I would be shocked to see the CFTC do something meaningful. You are right, if you look at their website they are always crowing about busting some minor league player. The Morgue is conspicuously absent.
http://www.cftc.gov/PressRoom/PressReleases/EnforcementPressReleases/index.htm
Tom Fyler is the new Mister X who passes confidential insider information about the elite plans to Pastor Lindsey Williams , here are some key points : there is not going to be a financial collapse during April May and June because the elite want to create a massive wave of debt involving every nation on the earth and every individual , to the extent that it is so great that when they finally allow the financial collapse to take place all countries will be on their knees financially that they will have no other choice but to accept the New World Order new currency , do not pay attention to the stock market what will determine the financial collapse is the implosion of the derivatives bubble
silverwulf:
ah. So lindsey williams probably said silver was going higher by it’s own means then, not that his elite friends where gonna send it there? That makes more sense. I’m very familiar with the pastor’s predictions over the last couple of years. I’m a bit split about his predictions, but perhaps since I’ve only managed to place my bets on the ones that didn’t come true. A bit put off by the fact that he said he’d come on monthly on the AJ show during 2012 because it would be such an eventful year (but I’ve only heard him on once since then). A bit put off that he charges so much DVDs with vital information while being a pastor. Nevertheless I listen to anything he has to say and try to digest it in light of other news/sources. http://www.silverdoctors.com/forums/topic/lindsey-williams-prediction-about-to-come-true/
As much as, I respect Bill Murphy, Jim Sinclair, David Morgan, Eric Sprott, Gerald Celente (does not give financial advice), Jim Rodgers and a cast of other individuals. I will still have to wait and see? It will happen when it happens. No disrespect to them.