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My theory...
By Stephen Kirkland and Tara Lachapelle - Nov 13, 2010 8:14 AM CT
Stocks slid, extending the biggest weekly slump in three months for U.S. benchmark indexes, and commodities tumbled amid speculation China will lift interest rates. Irish and Portuguese bonds rose as Group of 20 officials said they’re working on ways to resolve the debt crisis.
The Standard & Poor’s 500 Index fell 1.2 percent to 1,199.21 at 4 p.m. in New York after the Shanghai Composite Index sank the most since August 2009. The Thomson Reuters/ Jefferies CRB commodities index fell the most in 18 months as oil and copper lost more than 3 percent. Irish 10-year notes rose for first time in 14 days. Treasuries fell, with two-year yields increasing the most in six months, amid reduced demand for safety from bond investors.
November 12th, 2010
Author: Jeff Taylor
It is now reaching the general consciousness that it is those with the money that control our destinies. Where once many believed that our betters who order our lives reside in Westminster, the realisation that those with the power are more likely to inhabit the City’s Gherkin building is dawning on us.
Some of those people are now heading the largest and arguably most successful institutions in the world, the banks. Everyone now wants to get in on the action of money shuffling. And as they do the more of a monster it becomes until every move some of them make shakes the markets. And then the temptation to use that might turns into corporate policy.
On the 27th October two traders, Brian Beatty and Peter Laskaris, filed lawsuits against both JP Morgan and HSBC accusing them of manipulating the price of silver by “amassing enormous short positions”. The lawsuits being brought at the US district Court, Southern District of New York, which are also seeking to gain a class action status, allege that “… between in or about March 2008 and continuing through the present, Defendants have combined, conspired and agreed to restrain trade in, fix, and manipulate prices of silver futures and options contracts traded in this District on the COMEX division of the NYMEX. Defendants thereby have violated Section 1 of the Sherman Act, 15 U.S.C ¶1. Also during the Class Period, individual Defendants have intentionally acted to manipulate prices of COMEX silver futures and options contracts. Such conduct violates Section 9(a) of the Commodity Exchange Act, 7 U.S.C. ¶13b.”
The following day the National Inflation Association (NIA) assessed that JP Morgan are so short on silver and that the silver market is so tight that “…. silver prices could literally rise to $50 per ounce overnight. NIA estimates that $50 per ounce silver would mean approximately $4 billion in losses to JP Morgan”
Read more: http://www.economicvoice.com/max-ke...h-jp-morgan-buy-silver/50014046#ixzz157gc06e6
Posted on November 12, 2010 by rockingjude
PlanetEarthAwakens01 | November 11, 2010
YES WE CAN kill JP Morgan and end it’s scourge upon humanity, all we need to do is work together and get as many people as possible to buy 1 ounce of silver. This will bring the silver CTF scheme to it’s knees, when people realise there is only 100th of the silver in existence compared to the underlying physical there will be hell to pay. If we’re lucky we may see banker blood running in the streets.
hehe thanks electronicmaster, i gotta work out how to put in youtube vids.
November 12, 2010 – Comments (14) | RELATED TICKERS: JPM
GW with the post here:
http://www.washingtonsblog.com/2010/11/crash-jp-morgan-buy-silver-show-too-big.html
Leading economists and financial experts say that our economy cannot recover until the too big to fails are broken up. See this and this. The giant banks have been sucking money out of the real economy and making us all poorer. But the government is refusing to even rein in the mega-banks, let alone break them up.
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