You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #27: More on JMP and Ag price gaming [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-10-10 07:01 AM
Response to Original message
27. More on JMP and Ag price gaming
<snip>
Ted Butler of Butler Research has been exposing the official manipulation of Silver for the past 25 years. His research was instrumental in exposing the gold/silver leasing operations and the massive concentrated short positions in both gold and silver. On September 3, 2008 Butler published a report entitled Fact Versus Speculation where he showed how one bank, JP Morgan Chase, took over the Bear Stearns Silver COMEX Short position of 30,000 contracts or 150M oz.

Since this report was published JP Morgan has continued its silver market rigging antics in an effort to get out of this precarious short position. After Butler exposed JPM as the culprit there have been wild orchestrated swings in the price of silver as JPM attempts to cover their massive COMEX short position. The price of silver has risen from $13 to currently over $20 in this time frame and the size of the short position held by JP Morgan has gyrated wildly between 30k and 40k contracts as they desperately try to shake the longs to cover their shorts. But even with this rise in price the short position is STILL above 30k contracts according to the CFTC's latest Bank Participation Report.

Add to this various silver market manipulation tools such as naked shorting silver ETF's, falsifying COMEX warehouse data, unallocated silver, leasing and swapping metal and you have a situation that dwarfs the Hunt brothers case.

<snip>

I'm starting to think my $6,000/oz silver call is too conservative!

http://www.silverbearcafe.com/private/12.10/onebank.htm...

At $6K/oz a pre-65 Roosevelt Dime in AU (about uncirculated) UNC (uncirculated) or BU (brilliant uncirculated) condition would have a silver content valued at $434.40. (0.0724oz) Melting to bullion grade (99.99%) loses a slight amount. The rule of thumb is 0.715oz recovered per $1 face value. Thus the realistic melt worth would be lowered to a mere $429.00/dime.

Current melt price (0757 EST)is $28.72 = $20.53/$ Face Value = $2.05/ Dime


Printer Friendly | Permalink |  | Top
 
  -STOCK MARKET WATCH, Friday December 10 ozymandius  Dec-10-10 04:30 AM   #0 
  - A Special Message: New Search Tool re: Wikileaks Cables  ozymandius   Dec-10-10 04:33 AM   #1 
  - Exclusive: An Inside Look at the "Hactivist" Takedown of Visa After WikiLeaks Cut Off  Demeter   Dec-10-10 05:45 AM   #19 
  - Thanks for posting  DemReadingDU   Dec-10-10 05:57 AM   #22 
  - Thanks Ozy!  snot   Dec-10-10 09:49 AM   #44 
  - Today's Reports  ozymandius   Dec-10-10 04:37 AM   #2 
  - Oil rises to near $89 ahead of OPEC meeting  ozymandius   Dec-10-10 04:41 AM   #3 
  - IEA lifts oil demand forecasts on US, Asian growth  ozymandius   Dec-10-10 04:43 AM   #4 
  - Remember $4 Gasoline? Oil Speculators Are Back  Demeter   Dec-10-10 05:29 AM   #14 
     - Because China and India are buying Oil  happyslug   Dec-10-10 09:41 AM   #43 
        - And the weakening dollar after QE2  CatholicEdHead   Dec-10-10 11:09 AM   #46 
  - 2nd Rec!  Demeter   Dec-10-10 04:47 AM   #5 
  - Good morning, Demeter.  ozymandius   Dec-10-10 04:56 AM   #7 
  - Hang in there, girlfriend.  Tansy_Gold   Dec-10-10 08:24 AM   #39 
     - thanks, Tansy!  Demeter   Dec-10-10 02:33 PM   #51 
  - Americans' wealth grows, lifting hopes for economy  ozymandius   Dec-10-10 04:53 AM   #6 
  - U.S. Home Values Poised to Lose $1.7 Trillion in 2010  ozymandius   Dec-10-10 05:22 AM   #12 
  - And money isn't just being printed  Po_d Mainiac   Dec-10-10 05:45 AM   #20 
  - There goes that wealth growth.  Dr.Phool   Dec-10-10 07:15 AM   #32 
  - I am guessing most people here know that stocks, which went  jtuck004   Dec-10-10 09:37 AM   #42 
  - AIG strikes deal to repay Treasury  Demeter   Dec-10-10 04:56 AM   #8 
  - A Fool and His Money  ozymandius   Dec-10-10 05:14 AM   #11 
  - PayPal Guards Against Attack From WikiLeaks Hackers (Update1)  ozymandius   Dec-10-10 05:03 AM   #9 
  - Recommend  xchrom   Dec-10-10 05:03 AM   #10 
  - Debt: 12/08/2010 13,847,884,133,109.61 (UP 9,393,818,611.97) (Wed)  Festivito   Dec-10-10 05:22 AM   #13 
  - Debt: 12/09/2010 13,846,494,847,569.86 (DOWN 1,389,285,539.75) (Thu)  Festivito   Dec-12-10 03:46 PM   #56 
  - A Modest Proposal to Transition to a "Cater to the Rich" Economy  Demeter   Dec-10-10 05:32 AM   #15 
  - that is too perfect (n/t)  bread_and_roses   Dec-10-10 07:36 AM   #37 
  - Nigeria: Halliburton Plans Plea Bargain in Cheney Corruption Case  Demeter   Dec-10-10 05:37 AM   #16 
  - Take him. Keep him. Put him to work.  TalkingDog   Dec-10-10 09:20 AM   #41 
     - He always looked like the kind of guy who would really be good at....  Dr.Phool   Dec-10-10 02:20 PM   #50 
  - House Democrats Oppose Tax Deal  Demeter   Dec-10-10 05:40 AM   #17 
  - I hope the content of this story is current.  ozymandius   Dec-10-10 05:46 AM   #21 
  - I don't think it is. (hopes dashed)  Tansy_Gold   Dec-10-10 06:24 AM   #25 
     - NPR carried the story yesterday afternoon  Po_d Mainiac   Dec-10-10 07:05 AM   #28 
        - The Non-binding Chicken Route.  Dr.Phool   Dec-10-10 07:13 AM   #30 
           - We'll have to see if that bird makes it across the highway,  Po_d Mainiac   Dec-10-10 07:22 AM   #35 
  - This is what a Progressive House DOES.  PassingFair   Dec-10-10 07:13 AM   #31 
  - Ireland Stuck in a Vicious Circle, With No Real Exit in Sight by: Paul Krugman  Demeter   Dec-10-10 05:42 AM   #18 
  - Big Polluters Freed From Environmental Oversight by Stimulus  Demeter   Dec-10-10 06:12 AM   #23 
  - Factory Farms Decreasing in Number, But Increasing in Size: 20 Percent Growth in 5 Years  Demeter   Dec-10-10 06:17 AM   #24 
  - Didn't have time to review compliance records?  Dr.Phool   Dec-10-10 06:28 AM   #26 
  - Well isn't that special  raouldukelives   Dec-10-10 10:24 AM   #45 
  - Jeebus!  ozymandius   Dec-10-10 03:44 PM   #53 
  - More on JMP and Ag price gaming  Po_d Mainiac   Dec-10-10 07:01 AM   #27 
  - Note from me  Po_d Mainiac   Dec-10-10 07:16 AM   #33 
  - thanks for that update  Roland99   Dec-10-10 07:49 AM   #38 
  - I read daily, post seldom, but wanted to share this 'toon.  silverlib   Dec-10-10 07:09 AM   #29 
  - +1K n/t  Po_d Mainiac   Dec-10-10 07:17 AM   #34 
  - Since he has neither cash nor credibility, it's going to be a skimpy Christmas.  Demeter   Dec-10-10 02:35 PM   #52 
  - kick -- thanks for the continued good reading. nt  xchrom   Dec-10-10 07:35 AM   #36 
  - Ireland proposes 90% bank bonus tax  TalkingDog   Dec-10-10 08:46 AM   #40 
  - Bernie Sanders "filibuster" on C-span2.  Dr.Phool   Dec-10-10 11:55 AM   #47 
  - Five hours now.  Dr.Phool   Dec-10-10 02:18 PM   #49 
  - Moodys Ratings Are Protected Speech, Judge Says  Ghost Dog   Dec-10-10 02:06 PM   #48 
  - Using opinions for rating corporations...I am through the looking glass (sigh). n/t  kickysnana   Dec-11-10 01:02 AM   #55 
  - Keiser Report #102, a must see.  Karenina   Dec-10-10 04:53 PM   #54 
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC