Category Archives: 10.4.11 Operation Silver Slam
JP Morgan: “Operation Silver Slam”
I must admit that I’ve been watching JP Morgan pull the same manipulation stunts over and over again for years. And it’s not just in the silver markets. On November 18, 2005 when natural gas prices were skyrocketing to near $15 due to the ravaging of hurricanes Katrina and Rita the Federal Reserve announced that they had approved JP Morgan to trade in natural gas. That announcement can still be found on the Federal Reserve website here:
At the time I told all my subscribers invested in natural gas to “run for the hills” as it felt like there was something afoot. In less than 1 year JPM had trashed natural gas down to what everyone thought was a floor of around $6 and the “smart money” had loaded up for what they thought was going to be a nice ride up…But JPM was not done and went for the final “Choke Out” driving the price down below $5 and holding it there destroying Amaranth in their wake then buying up the pieces to make at least $750M but many suspect over $2B.
Here’s the price graph to see what happened after Nov 2005.
JPM had made BILLIONS in natural gas in less than a year by rigging the market lower!
An excellent account of how it all went down was written by Rob Kirby here:
Clearly this massive, surgical manipulation of the natural gas market was orchestrated and coordinated between the Federal Government, the Federal Reserve, the NYMEX and JP Morgan.
Then, in 2008, when Bear Stearns went down JP Morgan came in at the bequest of the Federal Reserve again and took over Bear Stearns and their over-sized COMEX silver short position (est at over 150M oz). At the time silver was breaking free from it’s decades long manipulation and pushing up over $21/oz. Within 6 months JPM had managed to drive the price down to what everyone thought was a solid floor in the low teens and the “smart money” loaded up again for the ride up. Again JPM attacked and drove the price down below $9 and held it there CRUSHING the innocent and “not so innocent” silver investors stabilizing the “managed price” of silver.
Proof that it was JP Morgan that took control of the silver hot potato was uncovered by Ted Butler (go figure!). This proof is about as strong a case as you can make without JPM publicly admitting their involvement or a whistle-blower coming out and publicly telling the world that JP Morgan rigs the silver market…wink, wink:
In both cases JPM drove the price down to where the “strong hands” usually got in only to let it start to rise a bit before slamming down further than anyone had expected…and held it there CHOCKING OUT anyone who didn’t have the monetary backing or the patience to wait out JPM.
Both these moves were 100% sanctioned by the Federal Reserve, US Treasury, the Market Exchanges and the CFTC.
Both these rigging operations were 100% illegal.
So in January 2011 when President Barrack Obama appointed the JP Morgan Senior Executive, William Daley, as his “Chief of Staff” I had thought to myself…”This should be interesting”. In September 2008, at the height of the banking collapse Money Magazine ran an article entitled “Jamie Dimon’s Swat Team” and listing Bill Daley as “the head of corporate responsibility and a former Secretary of Commerce” on page 2.
He is even front and center in a photo of the “Swat Team”
So Bill Daley, the man directly in charge of “Corporate Responsibility” during the JPM silver slam of 2008, was “placed” right next to the President of the United States to preside over the current “Operation Silver Slam”.
My God…is there no hiding for these VILLAINS any more?! This Bad Guy was “responsible” for the corporation at the heart of the scandal involving the takeover of Bear Sterns silver position and must have oversaw the 2008 Silver Slam discussed above.
As of the end of April, the monster silver short stood at approximately 125M ounces. The latest CFTC Bank Participation Report for April showed a surprising “no change” but that doesn’t mean there was “no action” in April. Most likely JPM continued to build their short during most of the month then started covering at the end such that it looked like nothing happened. May should be a different story so expect continued volatility as we progress through the month.
Now let’s take a look at the current Silver market manipulation and see if this “operation” shares any similarities with the two prior market manipulations addressed above.
First, lets look at a visual of the operation:
As can be seen by this 6 month chart, one week after Daley took office the price of silver went on a steady, computer controlled ride up to $50. This continued until the very last day in April. This was NOT all those eager silver bugs winning the battle over silver in the free markets. This was a computer market rigging operation executed with military precision to bring as many weak hands in as possible to assist in the reverse downward manipulation that began on May 1st. The purpose of this operation is to cover as many short contracts as possible, drive the investment community away from silver, protect JP Morgan from losing control of the silver market and protect the soundness of un-backed fiat money.
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.
Make no mistake. $50 was not a true Fair Market Value for silver and neither is $35 or $25 or $15. The price of silver is 100% determined by computer market rigging with the assistance of certain “Bad Guys” within the US Government, the Banking Cabal, Brokerage Houses, Commodity Exchanges and many more.
Along with this manipulation came the CME margin increases to help push the price down, the silver hedging put on my Carlos Slim’s mining company, the margin increases at the brokerage houses, George Soros telling people to get out, the talk of bubble and oversupplies of silver by the mainstream media…and of course the Obama Birth Certificate Fiasco and the Osama Bin Laden Murder Con.
Nothing…and I mean NOTHING coming out of Washington DC should be believed these days.
So the wars for our FREEDOM are raging and of course JP Morgan is leading the battle for the Bad Guys. Remember this warning from Jamie Dimon just a few weeks before the Silver Smash when he was talking about the US Congress not raising the debt ceiling?
“I would have hundreds of [people] working around the world protecting our company from that kind of event. We would get prepared for it way ahead of time. Like, I would be taking really drastic action. It would be really unpleasant,” he said.
Yes. Jaime Dimon is using his evil rigging machine to teach “We The People” a lesson and that lesson is “STAY AWAY FROM SILVER YOU USELESS EATERS!”
I don’t know how low they will take silver this time. And you don’t either. The Good Guys may even decide “ENOUGH IS ENOUGH” and take the Bad Guys down in a blink of an eye by driving silver to the moon. Anything can happen now.
The ONLY way to survive this with your wealth and sanity in tact is to be sitting on the sidelines with physical silver out of the reach of these criminal Banksters.
And best of luck to us all of us…we’re gonna need it.
May the Road you choose be the Right Road.
Bix Weir www.RoadtoRoota.com