Forget Spain's surging yields, forget Super Mario in Italy, forget the $1.2 billion doubling of the fraud of MF Global, forget even the news of global QE...
If Sprott removes between 40 and 50 million oz of physical silver off the market in one swoop...it's game over for our favorite banks. Last time his offering tripled the price of silver in 8 months, and a double portion of physical removal would KO these Corzine wannabes, and leave the world's banksters in a smoking pile of derivative-tinted ashes.
Now, I've spoken about Wynter Benton before (although I admit, I don't know if they're legit or not)...but has anyone given thought to the idea...that WB could've just been MF'ed Globally?
Just like, say, ohhh Gerald Celente....or hmm, maybe Turd Ferguson? Guys, real or not, fact or fantasy, the truth is, neither I nor you have "behind the scenes info" on WB, right? Whatever you think about WB is your belief, nothing more. Same goes for me.
MF Global was a 9/11 financial market event, a sneak attack that no one saw coming, especially...you.
If they're not real, no harm no foul. If they are real (who the hell knows), cut them some slack.
Futhermore, the news on Sprott's new filing is the news of the month! Forget Spain's surging yields, forget Super Mario in Italy, forget the $1.2 billion doubling of the fraud of MF Global, forget even the news of global QE...
If Sprott removes between 40 and 50 million oz of physical silver off the market in one swoop...it's game over for our favorite banks. Last time his offering tripled the price of silver in 8 months, and a double portion of physical removal would KO these Corzine wannabes, and leave the world's banksters in a smoking pile of derivative-tinted ashes.
The only thing that stands in his way now, is the pending approval of the offering by the regulators. Let's pray that they don't pull a fast one, and deny him the ability to initiate this offering. If I were the enemy, this is where I'd fight tooth and nail- the enemy had better treat this offering like the Waterloo that it is.
I've been waiting months for this, and I will relish it when/if it commences. This also proves Kid Dynamite's attacks on Eric are bull****, and that he's been keen on taking more silver off the market. The time just wasn't right....
Clock's ticking, muthas! Sure hope you can collapse 10 more MF Globals in the next 2 months to come up with the goods!
20 comments:
SD, what is your opinion of DTOM recent blog post about this being potentially a bad move for Sprott? He fears that if Sprott breaks the Comex they will portray him as a market manipulator similar to the Hunt brothers.
Anon - The Hunt brothers were speculating and playing the comex game. Sprott will be taking the silver and won't be playing with futures.
Doc, when do we know when Sprott when make the buy, so i can load up on more phyzzz,thanks
SILVER INVESTORS NEED TO CORDINNATE PHYZ BUYS
WITH ERIC TO COMPOUND THE IMPACT. WORLD WIDE
LETS PUT OUR MONEY TO WORK. TO DESTROY A THIEF.
HOPE MESSAGE GOES VIRAL. OUR BEST SHOT !
It won't be long before Eric Sprott gets a knock at the door, if he hasn't already. Hint Hint.
Mr. Sprott, what are your intentions sir?
National Security, blah blah....Get it?
Talk amongst yer serf....I mean self.
Black Beard had many flags. The one they "hung" was yer fate.
Newbie
Very well said Cle 61. I wish I had said it myself. You are right that we can take heart in the huge capital base Sprott's forming.
There was a post in BroJo a couple of months ago that noted some of the currency devaluations in the Yen and SW Franc were distractions to the US FIAT destruction. The Euro, Germany, the ECB and more than a few brush wars could also be seen as side bar distractions to the ongoing bubble rupture of the US dollar and our economy.
Central Governments debase currency and start wars. That is what they are good at. Central Banks finance both.
As far as what is happening in the rest of the world, these events are little more than the run up to the climactic three ring circus FUBAR that we will face when TSHF for US
I was the silver battle when the Hunt Bros got thrown under the bus. I started stacking in 1968 by saving my pre 1965 phyzz from waiter tips. While I made a tiny fortune by selling at the peak for $45 per oz but I no more manipulated the price of silver that the Hunt Bros did.
The Hunts were a side show to the run up in silver AND gold. The prices went up 2000% in the case of gold and nearly an identical amount for silver due to 2 factors.
The first factor was a year over year inflation rate of 10% from 1970 to 1980. Remember Nixon and his 10% income tax surcharge, Ford's Whip Inflatiion Now Buttons,gas lines with a 4 fold increase in the price of go-go juice and, of course, the late great Jimmy Carter and his Moon Pia Mafia with the spirit of malaise.
Inflation drove people to metals. Inflation kicked my ass. Silver was my savior
The second factor was the wholesale printing of money during this era. This currency binge was needed to finance the biggest growth in entitlements since FDR and the New Deal. Plus the ruinous cost of the Vietnam war.
Of course metals exploded in price.
Fast forward.
We have been at war since 2001 We have printed our way into the 1970's 10% inflation rate for the last 6 years. 45 million are on food stamps. Unemployment is 20%. So when we see what looks like full scale conflict in the world and the metals market, we have not seen anything yet.
These fire fights and rear guard actions of the COMEX and the cartel coupled with the casualties like MF Global and Jeffries these are just the skirmishes that are leading up to the PM price explosion that Cle 61 has referenced so well.
The Hunts were capitalizing on the Fed's wholesale destruction of our currency. If I was in their position I would do the same.
And if the Hunts manipulated the silver market, how does that explain the exponential rise in gold prices from a low of $40 an oz to $800? It's said that the Hunts tried to corner the silver market. In fact, it cornered them. They had to be keelhauled as an example of what not to do when the gubmint destroys a currency. Don't screw with Uncle Sam when he's on a binge. Sorry about the Bunkie. You were just collateral damage. It put a huge damper on the market for nearly 20 years.
I say this to explain , in my humble opinion, that Sprott is no more part of a Hunt-like silver manipulation that we are.
We can hope that Sprott pulls this off and we can coattail on Sprott. We can support his action against the Cartel and Comex by buying silver, stacking PMs and having his back.
Besides which, he is a Canadian stacker and unless Gulag Amerika declares war on Canada, he should be able to buy silver any way he wants. If someone is so stupid to stand in the way of this juggernaught then they deserve to be squashed.
For fair disclosure, I use Sprott for storage and investment and I am a former and recovering Canadian. I apologise for the latter.
Long live the Queen! Free Health Care!
Damn, sorry. Back to the 12 step program.
I think that becoz of increased volatility CME is going to increase margin, so that calls are triggered and Morgue can easily smash and cover the contracts. see for yourself for past 3-5 days volatility has increased in silver comex
any views guys
Increases in margin are having less and less an effect Jumps and bumps of 5-7% are modest in light of volatility. We can hope that the cartel is shooting blanks. The stress tests, trials, RICO investigations etc are going to play out against these people. Even the downtick this AM might indicate the lack of effect they are having on the prices.
kid dud.... what a moron that guy is. Thanks Cleburne. I hope he pulls the phyzzz soon.
Sierra
My belief is that Sprott is anticipating a rush to PMs over the European meltdown and is anticipating this move by opening up his PSLV fund for further investment. I don't know where you guys re getting the idea that he is going to buy 40-50 million ounces at once. Likely there will be purchases continuing as the investors buy more shares. Your excitement is a little misplaced at this point in time.
Anon, his intent is to raise up to 1.5 billion dollars...it says that in the filing. 1.5 billion at current prices would equate to between 40 and 50 million ounces.
All the best.
-Cleburne61
Consider this;
It appears like JP Morgan are in the process of tanking if you look at their share price, which is heading southwards fast. Consider that they also have a huge derivatives liability to add to their suicidal short positions, as well as being a huge creditor in MF Global. Sprott’s play could see them tip over the edge.
Do not be surprised if JP Morgan are being set up to fail on purpose, and Sprott is playing his part with a nudge and a wink. I am sure they have already entered into some pretty creative accounting to offload their losses onto the taxpayer, leaving their compadré Goldman Sachs free to continue their global raping spree alone.
Taking JP Morgan down, which is the largest bank in the US by assets, would send the whole world’s financial economy into freefall, which is exactly where they want it, so they can provide a solution while the world is on its knees.
Sprott would not be so stupid to play with his life by making a huge play like this, knowing the consequences of dealing with the criminals that are the financial elite, unless it was with someone’s blessing. He knows many bigger players have paid with their life for less.
We may be watching the beginning of the endgame. Hhold onto your hats, as if this goes ahead we’re in unchartered territory and it isn’t going to be pretty.
...yawn. This will never get past the regulators. It's just a 'show' to expose the banks...I love Eric, not only is he Canadian, EH! But he's the smartest guy out there. Along with Sinclair...
Beacon
If you watch WSOP, the big stack players don't need to bet. They just make a feint and the smaller stacks fold. With $1.5 billion, Sprott doesn't need to do a thing. Maybe buy some silver, maybe not. And flex his muscles
With JPM up to their eyes in troubles, particularly there upcoming stress test and exposure to the PIGS bond haircuts, it may come down to raw criminality as their last best hope to survive. As MF Global found out and Jeffries sees clearly, all the thievery in town won't save them. The hope is too deep. Like the above poster noted, a nudge from the big stack might be all it takes.
Let's pile on and help this day of reckoning come true.
http://kiddynamitesworld.com/sprott-physical-silver-trust-will-not-go-out-and-buy-1-5b-in-silver-imminently
I checked Kid D's post on his site. He does make some good points regarding the Confirmation Bias. But that bias can create its own firestorm if enough people believe it.
Whether the shelf registration is a short term feint or the start of a beneficial process, the fact that Sprott is starting indicates he has serious intent in mind. Time will tell. Volatility will rule the day for the interim period. Call that the gift of our present uncertain times, allowing us to continue buying at these reasonaable prices.
buy a monster box
When do we take profits?
I thought JP unloaded most of their shorts this past selloff.
Just listened to the interview with Eric Sprott Nov 27 2011 on KWN.
Very boring and uneventful. Like listening to David Morgan or Jon Nadler.
No mention of the 3 silver smackdowns this year
No mention of a manufactured price supression.
Little mention of this project.
No predictions in the short term
No guidance, no history.
Mike Malloy or Ted Butler are much much better.
Embry plays bad cop to Sprott's good cop.
But Mr Sprott mentioned one thing that few of
us realize: Govt of Canada has no gold
James B Canada
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