Sunday, December 5, 2010

Ready to launch?

Yesterday I posted this Cartoon Bear explanation of the JP Morgan Silver Manipulation saga...

The video, as you discover at the end of the cartoon, was put together by the website Silvergoldsilver. Viewers are invited to visit the website to make purchases of physical silver if they found the video persuasive.

Well... the video has gone viral and caught the imagination of a lot of people.

And many of those people seem to have been converted. So much so that as of yesterday the company is not taking any orders and is sold out of all products. The company will not be accepting any new orders until December 6 (see their website).

This is only part of the intense interest building for the opening of markets on Monday.

November saw the start of an intense Internet campaign by Mike Krieger and Max Keiser to attack and destroy JP Morgan (the design you see posted at the top of this post is the logo for their campaign). The central component of the campaign is: if every person buys an ounce of silver JP Morgan and its massive synthetic silver short position will have no choice but to cover and face unprecedented margin calls. This could possibly lead to an end for JP Morgan.

By no coincidence, during the month of November the US mint sold a record amount of silver American Eagle coins.

Last Thursday the Krieger/Keiser campaign went mainstream with this article in the Guardian newspaper.

Silver is up 50% since August and as of Friday was once again flirting with the all important $30 dollar level.

This level is significant as outlined in Paul Brodsky’s presentation and comments delivered to the BCA Fall Investment Conference in New York on October 25, 2010.

Brodsky, and his partner Lee Quaintance, spent over twenty years as bond traders, running government and credit trading desks for one of the world’s largest banks and on the buy-side running fixed income investment funds prior to opening a macro fund.

Brodsky speculates that silver will hit resistance levels of $30, then $64 before going onto $140 an ounce in the very near future.

The events of the last month are culminating this week in what many observers expect will be a very wild week for both silver and gold.

I know I will be watching with keen interest.

Let's see what happens.



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1 comment:

  1. A good deal of your materials seem to be inspired by ZeroHedge. Do you think not mentioning them is OK? Cheers.