The Wynter Benton group alleges that a major sovereign central bank has been accumulating physical silver as a reserve asset and will soon publicly announce this fact.
Confirmation of the remonetization of silver by CENTRAL BANKS could well thrust a final dagger into the heart of the cartel.
If true, The Doc's $70 silver target for the end of 2011 may well end up being humorously low.
Perhaps this explains silver's nearly $2.50 jump today to $41.27, and perhaps this could also explain why China went from exporting 100 million oz of silver /year in 2007 to IMPORTING 100 million oz in 2010?
The Leader wishes to inform his readers that a sovereign central bank will soon announce that it is accumulating silver as a reserve asset.
Also he is advising those who have participated so successfully in the latest gold run to shift their entire focus to the silver market.
As to Jes Staley, The Leader will give his reply at the appropriate moment.
You're going home in a body bag, do da, do da.....
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_J/threadview?bn=10073&tid=402940&mid=402940
45 comments:
A.m.a.z.i.n.g.
If, no....WHEN this happens...the world will never be the same. I just never dreamed it could happen this soon. We will see, won't we? :)
-Cleburne61
O___O!!!
...would venture that it may be one of the BRICs. rumors swirling china is prepping to head into a metal backed reserve
I am a newby. Can someone explain why this will send silver higher. I understand the issue regarding industrial and monetary use. Won't the amount of availability remain unchanged? How does it become worth more just by saying it is a reserve asset?
What a movie! :)
Doesnt matter if its true or not, the prevailing winds are overwhelmingly pro silver and sooner or later the tidal wave will destroy all resistance.
Yes this would knock $50 silver out of the park!!!!!!
Related info on Wynter Benton https://www.kitcomm.com/showthread.php?t=90894
zimbabwe?
@ Anon August 25, 2011 4:03 PM
If there is a central bank that is accumulating silver as a reserve asset, then it is silver that is NOT going to an industrial user and NOT going to someone who is accumulating for monetary purposes. This in turn is going to force those buyers to buy elsewhere, thus making silver less available overall to say you or me for example.
How big this nation and it's central bank is will be a factor in determining whether it is a complete non-event, just a blip on the charts, or a more major effect on the price.
Availability is always affected by supply and demand. A central bank buying = less supply (and more demand) which equals a higher price in currency terms such as the US dollar. Unless of course the dollar rises in value, of which I am certainly not going to hold my breath for!! XD
China is the third largest producer of silver in the world, anyway: 1) In 2005 exported nearly 100 million ounces since 2007 and imported silver in 2010 imported more than 100 million ounces. and 2) I think China's government has banned export silver bullion. Everything makes me think that China's central bank is accumulating physical silver as a monetary reserve and strategic reserve for its industry.
If this is correct, the silver is traded on at least a ratio of 1 to 16 with respect to gold, or more than $ 100 an ounce.
There is a whole lotta Silver in strong hands that will come out at the right price.
Mexico is also a likely suspect.
You have to take Yahoo message boards with a grain of salt.
"You have to take Yahoo boards with a grain of salt"
Everything Wynter Benton has posted has preceeded to happen exactly on que. Even massive silver takedowns predicted within several hours.
Is it really that hard to believe that former JPM traders who were involved in silver manipulation, and were then fired/laid off by JPM would decide to get back at JPM using their own game?
Doesn't every fired/laid off worker in America have similar thoughts/feelings towards their former employer?
mexico??
I'm from Mexico, is definitely not Banxico. Most of the silver production in Mexico is exported to USA. In this case .... USA could be Silver who is accumulating to support your dollar.
Ha, thats how the Roman army fell. They messed with the wrong dude. He came back and used their own tactics against them.
@ mainstreeteconomist. Thanks for the explanation. So it is not the amount of overall silver. It is the amount of silver in circulation which will determine price, unless the asset is released for sale at which time the amount in circulation increases, thereby reducing the price.
I get it.
re-posted http://www.silverrevolucion.com/story.php?title=silverdoctors-wynter-benton-central-bank-annoucement-on-accumulating-silver-as-a-reserve-asset-imminent
I'll hang my hat on the 'Mexico' hook, but if it turns out to be China, I wouldn't be the least surprised. In the 1450s they converted their 'flying money' fiasco to copper as a stepping stone to fully standardize their economy on silver. (You thought that notion was my invention? Nothing new under the Sun, folks). China had spent a huge sum on copper in the 2008-2010 period (speculated by the MSM to be for 'industrial and infrastructure expansion'), so the puzzle pieces do fit together for that possibility too.
@Pat-It certainly pays to see what has happened with money throughout world history. Everyone should check out Ralph T. Foster's self-published book "Fiat Paper Money: The History and Evolution of Our Currency".
Rex. I'm going to have to look for that. Is it in digital format?
He sells it periodically on eBay. He's done a number of interviews on YouTube, being interviewed by Darryl Robert Schoon, who has written a lot of great articles consistent with the Austrian School of thought.
Biggest news indeed, if China decided on that course.
I read this with amusement, "Bank" literally means "storehouse of silver" in Chinese, this announcement is akin to McDonalds to announce hamburger to be going on their menu.
Oh yah 银行 the Chinese character literally meant silver storehouse ....you are so right !;)
Does this explain why JPM moved so many ounces into registered vaults for the first time? It's hard to see what Count Bernankula and his blood suckers might gain from this. But the ruling sleaze are not exactly stupid, and are usually one step ahead of the game.... a return to Bretton Woods perhaps??? ;)
Thinking of tomorrow I mean...imagine Count Ben makes that announcement!
I'm going to go with China or Venezuela... China probably, but Chavez is pretty dang smart and responsible... interesting article.
and the $25k per oz not looking too shabby then for 2013????
Anon August 25, 2011 9:23 PM,
Yup yup, you got it! I wish you the best of luck in your ongoing education, and stacking for the future ;)
Some charts for you gold bugs.
MCX India Gold & Silver Charts http://i51.tinypic.com/2hxqc9h.png
Silver Watchdog On Twitter
Silver is already held as a reserve asset by central banks, which typically do not make any such announcements about their reserves. The biggest single silver holdings now are already at bullion banks and central banks. It's a ridiculous post... about the kind of drivel you'd expect to find a yahoo discussion board.
Bob Chapman stated a couple months ago that Mexico has been aggressively considering a silver standard.
Silver is not held as reserve assets by Central Banks. They sold off all their silver reserves in the 70's, during the so called decade of financial enlightenment. Although it is true that CBs do not make announcements about their reserves, it is true that the US has admittedly sold off all of their Silver. It is also true that China recently became and importer of silver rather than an exporter, and have encouraged their citizens to acquire silver bullion. It is also true that if every Chinese accumulated 1 oz. of silver, there would not be any silver left on the planet for anyone else. It is also true that Wynter Benton group has always been spot on their predictions. Drivel? I think not.
Got Silver?
China has $3 trillion in foreign reserves and will have a $250 billion trade surplus this year. What's $50 billion to put a buy order on every ounce of available silver on the planet.....china could corner the market with ease. No wonder the government legalised and promotes the purchase of silver to the common people last year.....
China is a leader in solar panel mfg -- which requires silver -- this might explain their becoming net importers. Not a sexy theory but probably more based in reality than some.
Im selling my beloved motorcycle to stack as much silver as I can to what I have already accumulated. Hope I can accumulate 1000oz's before the next silver take off. Good luck every body.
"Imminent" means right away... so what happened with this story?? Seems fishy now after the smackdown. jmo
Because they control most of the gold, central banks want gold to the the only money. (See The Crime of 1873.) They want silver to be treated as a mere industrial commodity. But silver's role as money alongside gold is inseparable, and this in ingrained in people's psyche. Silver has always served as the people's money, with gold 'too valuable' for everyday use.
The word Silver is synonymous with the word Money in all kinds of languages throughout the world.
Well that turned out to be a huge load of bullcrap.
newbie is still waiting..... 1 December 2011
The banks in the us allready have a reserve of silver(pre-64). They were probably the biggest hoarders in 64 because they probably had inside infomation back then, just as now. Then I start thinking of the "big melt", every one was selling their silver, WHO WAS BUYING? Then you have silver being consumed in electronics and other industries and war (I hear 500oz of silver is in a tomohawk cruise missle), all these variables tell me that god probably doesn't know how many oz are above groung and in circulation.
Tiongkok can be a innovator inside solar power mfg -- which usually demands gold -- this may clarify their own turning out to be world wide web importers. Not really a hot idea however possibly more located in truth than a number of.
http://www.fzf.com/christmas/christmas.html
http://www.4rsgold.com/christmas/active.html
Post a Comment