Thursday, September 22, 2011

Wynter Benton: JP Morgan's Silver Derivatives Reset as Silver Breaks Below $36

Still think the Wynter Benton group is full of it?

(Will close in 3 hrs.)
Metals Date

Ask Change Low High
Buy gold Gold Charts

Buy silver Silver Charts  SILVER 09/22/2011

35.99 37.38

Silver above $36 for 60 days trigger derivatives
Some are saying that we are revising history as to whether the "60 days" are calendar days or trading days. Please re-read this post carefully. Doesn't it say "trades above $36 for 60 days"? I don't believe that silver trades on the weekend. Also why would the counterparties state 60 days if the contracts counted days that silver doesnt trade? Clearly, it means trading days.

One of the treason why silver will probably fall under $36 is because our group is no longer defending silver when it breaks below $40 like we have been the last few weeks. We don't want to overstate our influence but is it not strange that silver drops close to 10 percent in a matter of a few hours when we state that we will not go long silver in the immediate term?

It would appear that we might have underestimated our influence on the price of silver because we believed that there was support at $38 or so.

Again rest assured that when we re-engage silver, it will be well over $50 in a few weeks.

The only safe haven is silver and gold!!
Uncle Benny has doomed us into a deflationary spiral so we won't defend silver at the moment. The Morgue will take this opportunity to take silver below $36 to reset the derivative bomb, something we warned was possible a few days ago (although we deemed it unlikely). But rest assured, Uncle Benny and The Morgue
will pay a heavy price for buying time for The Morgue with respect to silver. The Morgue and the rest of the market will fall below S&P 1000 in less than 6 weeks. We silver believers must settle for watching their financial world disintegrate as silver and gold is temporarily taken down. But rest assured, silver will be over $65 by the end of the year.

But for now, enjoy watching The Morgue, MS, BAC, and every other financial institutions including insurers go down the drain. We are not sure when and where gold and silver will make a stand and reverse upward in a violent manner, but soon, everyone will see that paper asseets (including the almighty dollar) are not worth the paper it is written on. There still is time to short every financial entities to single digits.

Enjoy your handiwork Uncle Benny and Blythe!!! da, do da........

Click here for the Wynter Benton thread: