It will be a long and twisted path in the silver and gold fields from where we are to where the bankers want to take us for still another fleecing. Hopefully, we can avoid the snare traps the Bilderbergers set for us.
First I want to highlight the recent attack and counterattack on the New York based COMEX metals exchange. Jim Willie said he believes JP Morgan ordered Goldman Sachs and Jon Corzine to take down MF Global because they feared the COMEX would collapse due to a shortage of silver bullion. The MF Global bankruptcy receiver took money from segregated accounts at subsidiaries but gave 1.2 billion dollars to Morgan for unsecured loans. They took money away from the people who had cash and wanted to take delivery of silver and gold bullion.
Jim Willie also says that the bankers on Wall Street and in Europe will be just flat out stealing money from your accounts and pensions. Governments in Europe have been taking money out of private pensions and giving it to Bilderberg owned banks. That is why the Senate and the House legalized warrantless arrest without judicial review. They need to shut you up when the fraud gets exponentially worse than it is now.
Bix Weir is a gold bug but has issued a call to investors to sell their gold and buy silver to break the manipulation of the bullion markets. Silver is a much smaller market and will be easier to break. Ten tons of gold is inconsequential but that could buy 500 tons of silver which could break the COMEX when combined with the other big buyers.
John Embry of Sprott Asset Management launched two attacks on the COMEX. First he filed with the Canadian government to buy 1.5 billion dollars in silver. The last time he did this he sent silver from $18 to over $30. More recently he asked large silver miners to store silver rather than to sell silver and hold cash. It is clear he wants to break the COMEX. If silver is withheld from the market by the miners, then a concerted demand for delivery of silver bullion will in my opinion push the price well past $50 an ounce. This will break the COMEX and the LBMA (London Bullion Market Association.) There is a lot a paper silver and gold out there. The fraud on Wall Street and the City of London is beyond the ability of a normal person to comprehend.
A surge in physical silver purchases will also break the ETFs GLD and SLV which use paper derivatives to simulate the spot price of silver and gold. A deep analysis of SLV reveals that their operating costs are covered from the sale of silver bullion.
I want to present some facts investors need to know.
UBS and Morgan Stanley have been sued for selling paper silver and representing it as bullion to customers even charging them storage for silver bars that never existed.
The COMEX trades paper silver on some days as much as the total amount of physical silver that is mined every year.
James Turk of Gold Money has said that half of the new money invested in bullion goes into silver and the other half into gold. For every ounce of gold mined only ten ounces of silver is mined. But silver has industrial uses that gold does not have. The above ground supply of silver has diminished 93% in the past 40 years. But the ratio of the price of gold to silver is 50 to 1. If gold and silver break free of the current manipulation, the price of silver should rise anywhere from 50 to 100% faster than gold.
Central banks have NO physical Silver to assist in the manipulation of the Silver market but they still have a lot of physical Gold (although much less than they claim).
The Italian government has been taken over by Bilderbergers and Goldman Sachs operatives. They just recently have been leasing out Italian and Spanish gold. As you know, leased gold is not bullion and can be sold five times in order to drive down prices. That is why gold has been going down of late.
When To Sell Silver And Gold
I see no near term sell signals as I do not advise anyone to trade gold and silver daily. Bullion should be held until a gold standard is set up. Walter Burien at http://www.CAFR1.com has a paper called ‘The Fifty Year Plan’ which is similar to an essay I wrote: A Fractional Reserve Gold Standard: The Next Big Fraud.
If a gold standard does come into existence, gold will have to at least double in price to make it work. That is when you need to sell. What you should buy is yet to be determined.
I do not personally favor a gold standard. But I have suggested that Russia, China, Venezuela and Iran open a network of oil bourses where all purchases are to be made in gold, rubles or yuan. The Chinese would have to revalue their currency upwards and fix it to the ruble. I wrote that essay as a strategic move to stop WW III.
I would prefer a debt free currency like the Greenback and a ban on fractional reserve banking.
My regular readers know that I do not expect the New York or the European Bilderberg banks to go bankrupt. They will be bailed out by Ben Bernanke. The money supply will grow so fast that I expect hyperinflation within 16 months. I define hyperinflation for an international reserve currency like the dollar as beginning at 25%. I do not expect the dollar to collapse until after the 2012 American elections. I think Bernanke will paper the world between now and then.
As I said yesterday, I expect prices to go so high that for a lot of Europeans and Americans food will only be a distant memory.
I should warn you that I am led to believe that the Bilderberg crowd or at least a faction within it wants the COMEX and the LBMA to fail right along with the dollar, the pound and the euro. Running house prices up and down by selling fraudulent mortgages ruins tens of millions of families but it gives bankers more power. Just as running stock prices up and down has done. Or running your national currency down to zero value. Running gold and silver up and down is just one more swindle.
Bilderbergers enjoy inflicting pain and ruin on the common folk as much as they do stealing their money.
Warning: There is a lot of money out there yet to be stolen so don’t expect a collapse next week. And there is a lot of money to be made for the bankers if markets swing wildly between highs and lows.
CAUTION: I am not a financial adviser. I an not qualified to give you advice. And I do not know your situation. Please consult a professional.
Author’s Note: You can read my take on the looming hyperinflation “QE 30 IS A Fix Not A Policy”
You can read my article on a gold backed fixed rate currency exchange linked to oil bourses “Subduing Zionist Expansionism With Gold Backed Oil Bourses” here:
You can find my essay “A Fractional Reserve Gold Standard: The Next Big Fraud” here: