Afternoon everyone…..
While we all know that the big banks especially JP Morgan have been manipulating silver for decades now. They have been found guilty of this twice and have paid millions of dollars in fines. Yet that has not stopped them EVER!
The four big institutional banks JP Morgan, HSBC, Citigroup and Scotiabank have now teamed up on trying to suppress the silver spot price. They have the CME in their pockets and were the ones that orchestrated the massive silver bomb on Friday.
Many of the big financial analysts believe that they are very close to running out of options for suppressing the silver price. While silver has been creeping up since Friday’s catastrophe, they are still doing whatever is in their power to keep it down.
The closing bell price in Shanghai today was $105.63, that over a $15 difference from the US markets price. While the other two international markets show similar prices as Shanghai. Dubai current silver price is $104.88, and the India market shows a current price of $105.02.
So we are obviously being manipulated….
Here’s the main problem. All those stupid paper silver contracts that closed on Friday….. well China owned nearly half of them and are calling for physical delivery. Which equals over 628 tonnes. That’s an impossible feat because the COMEX only reports a little over half of that amount in their vaults 352 tonnes. While we will never hear how exactly this will get settled. One thing is for certain physical silver is in way higher demand then anyone is talking about or reporting to the general public.
Here’s another one for you to hang your hat on. Warren Buffett purchased 90 billion dollars worth of silver on Monday at the opening bell. It’s not all physical silver from what I’ve been able to find out so far. Some reports stated 35 million in physical, the rest was not reported in what I read.
If Warren Buffett is putting that kind of money in silver he is in it for the long haul. Not a short position. He is notorious for buying undervalued stocks and commodities and his exact words per the article were “The market was 100% wrong, silver is now extremely undervalued”. That dip made it a no brainer buy for him.
Warren Buffett might be old but he is 99.99% spot on when he makes a move on anything.
Hold your position and or buy more…..
