Just a quick note out there to all you physical silver and gold investors. The “delay” of the CFTC meeting on Position Limits from Oct 4th to Oct 18th was not only to give JP Morgan more time to try and get “on sides” with their silver position but also to give “the system” a couple more weeks after the end of the 3rd quarter to fully recognize the problems that fester at it’s core. Don’t be surprised at further short term delays but they are getting shorter and shorter.
Remember what I said about JP Morgan’s role in the latest silver manipulation:
“If JP Morgan sticks with it’s tried and true “Modus Operandi” they will continue this downward manipulation after allowing some new “bottom pickers” to get in at a supposed price support level. They will then force the price lower than anyone thinks and hold it there to “CHOKE OUT” everyone before allowing the price of silver to slowly rise to a more defensible position.”
JP Morgan “Operation Silver Slam”
When position limits are implemented that part about “slowly rising” will be a MOON SHOT!
And what of derivatives?
The DOWNGRADE of the United States of America sent shock waves through the multi-Trillion dollar derivative market. The carnage will be visible in the next few weeks. Here’s the largest derivative holders at the end of the second quarter according to the OCC:
JP Morgan $78.1 Trillion
Citibank $56.1 Trillion
Bank of America $53.2 Trillion
Goldman Sachs $47.7 Trillion
It is said that derivatives are a negative sum game because there is always a winner and a loser. Unfortunately, this market has grown to such gigantic proportions that it is no longer true. The “Winners” will soon find those wins uncollectible as none of the counterparties can withstand the kind of losses coming down the pike. Hemorrhaging from either derivative losses or defaulted derivative gains the entire system is hanging by a computer rigged shoe string.
Don’t be surprised to see all four of these “too big to fail” banks go down by the end of the year.
If you are frustrated that it is taking too long for the manipulation to end please remember…
The United States has waited 100 years to free ourselves from the banksters…what’s a few more weeks?!
May the Road you choose be the Right Road!