So what that tells you is that there has been an offtake right off of the comex in silver. The market finally cracked and the cartel has been taking a victory lap and covering their shorts and closing out positions, with comex oi dipping below 200,000. To my mind, the silver manipulation dates back to early 1983, when the commercial traders grew confident that they could sell any quantity of paper short contracts to the technical fund buyers on the comex. While silver is still manipulated due to the concentrated short position on the comex, the introduction and success of the various silver etfs has impacted the price tremendously. Surprise cftc goldsilver manipulation announcement. Gold and silver prices clobbered repeatedly, hit bottom. Comex is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum. To my second correspondence noted above that i sent over 2 years ago, i received no reply.
The jpmorgan silver manipulation is much bigger than the madoff fraud and scandal and because. End comex gold and silver manipulation stock discussion. Whistleblower exposes jp morgans silver manipulation scheme. The cftc refuses to answer or refute allegations, like jpmorgan never taking a loss in shorting comex silver and the fact that jpm has been the leading short seller while amassing more physical silver than any entity in history. A run manipulation involves an investor taking a position in the market then moving the price in a profitable. Disclaimers 1 membership 2 government 3 exchange committees 4 enforcement of rules 5 trading qualifications and practices 6 arbitration 7 delivery facilities and procedures 8 clearing house and performance bonds 9 clearing members 300 options contracts comex product. Investment fans of gold andor silver say there is enough potential for comex to default on delivery and that at some point, the prices of precious metals must. Dec 18, 2019 there are two main questions remaining open regarding gold and silver that are likely to be answered in the relative near future. Silver bull and bear markets from april 1968 to january 2016, london pm fix. As of yesterdays comex close, the total open interest in comex silver is at an alltime high of 241,5 contracts. I was shocked by fridays announcement by the cftc of an order and simultaneous settlement of manipulation charges in comex gold and silver futures. Nymex comex, again, with wolkoff denying a manipulation exists or has existed, then what the public may expect to encounter in the times ahead, regarding silver, is normal activityno huge leaps in the price to prove a shortage and crisis, and no derivative meltdown.
The analysis outlined in this article provides substantial supportive weight to the allegations of severe price manipulation and suppression of the silver market. The 1933 formation of the commodity exchange brought together the national metal exchange, the rubber exchange of new york, the national raw silk exchange, and the new york hide exchange under a single trading roof. Find gold silver prices on great silver bullion products. If the banks dont keep adding to their shorts, a significant rally could be close at hand. The comex exchange was founded in new york in 1933. While i agree that the bullion banks massive short contracts are controlling the silver price. It was another extremely active week in the movement of metal into and out from the comex approved silver warehouses. The manipulation was ended when the cftc stopped all comex silver purchases and allowed only silver liquidation sales instantly driving the price down. Silver thursday was an event that occurred in the united states silver commodity markets on thursday, march 27, 1980 following the attempt by brothers nelson bunker hunt, william herbert hunt and lamar hunt to corner the silver market. Monthly storage fee, if you have the silver or gold stored in a warehouse.
A friend and longtime subscriber who intends to write a book about the silver manipulation asked if i could provide him with a bit of history. During the class period, the prices of cmecomex silver futures. Of all the commissioners on the cftc, i think bart chilton is the most receptive to listening to allegations of manipulation in the gold and silver futures comex markets. In 1980 the us government held 3b oz of silver and in order to maintain the lower silver price levels they sold the.
Many precious metals analysts point to the massive commercial short positions held by jp morgan and scotiabank as the root cause for the low silver price. The surest proof of the comex silver manipulation fraud is the refusal of the insiders to openly discuss it. Starve the comex if you want to see silver sell to realistic prices. As of wednesday, june 10 the comex vault operators jp morgan, scotia, hsbc, delaware depository, cnt and brinks were reporting a total of 179.
The name comex was short for commodity exchange, inc. In silver, the commercial net short position declined by another,196 contracts, or 66. Butler states that jpmorgan acquiring silver in its own name from a customer suggests a strong conflict of interest and, quite literally, stinks to high heaven. Gold and silver futures on manipulation of the gold price 8. Therefore, from the longterm perspective, and especially looking at the 2000s, it is hard to understand the accusation of manipulation in the silver market. I believe however it was to jolt pm towards more of a true free market pricing. Great frauds like the silver manipulation on the comex. This includes live silver prices, charts, articles, indepth commentaries, silver stock updates, analysis and much more. Use the road to roota letter archives at the bottom of the public section to find the answers and improve your knowledge of what silver manipulation is all about.
Ranting andy special as we rapidly approach the end game, in other words a currency crisis whose scope has never been experienced in human history, it has become bountifully apparent that manipulation of the precious metals markets gold, silver, and mining stocks has gone hyperbolic, creating a socalled manipulation bubble that is being primed to pop. This article is about how to buy gold and silver on the comex. Clearly this is a market that is massively dysfunctional and an immediate remedy is needed if the regulators want to preserve what is left of the peoples faith in free markets. Then there is some information that an investor might want to use to buy gold at spot on the comex exchange. Manipulation leading to a market corner tends to increase market volatility and. Silver manipulation market manipulation, also called price manipulation, can be defined broadly as a purposeful effort to control prices. Doctor paul craig roberts, former secretary of the treasury for economic policy under ronald reagan, suspects that the fed once sold and or leased physical gold to drive the price down. In 1994, the comex exchange merged with the new york mercantile exchange and became the division for metals. Its now going on close to 30 years since i first discovered that silver was manipulated by excessive and concentrated short selling on the comex. Comex launched gold futures trading in december 1974 and gold options trading in 1982 options are on gold futures, not on the bullion itself. The following quiz will test your understanding of silver market manipulation and the many theories discussed in the road to roota letters. But the comex silver short position is held by very few traders and it is that concentration that equals price manipulation. There are two main questions remaining open regarding gold and silver that are likely to be answered in the relative near future. Tam trading uses a marker price, whereas tas trading uses the exchangedetermined settlement price for the applicable contract month.
Today, comex is the largest gold futures exchange in the world. Silver manipulation may be the most extreme in history. He presented evidence to united states regulators alleging that fraud had been committed, and that prices in the international gold and silver markets had been manipulated. With the hunts in default, bache did the only thing it could to start recouping its losses. Three banking giants charged for manipulating the gold market. Firstly, for those unfamiliar with the comex, it gives a brief overview of how it works and how futures contracts for gold and silver work. A subsequent steep fall in silver prices led to panic on commodity and futures exchanges. Market manipulation carries significant consequences to stakeholders within the silver market as well as to the broader economy.
Dec 25, 20 gold silver manipulation update crimes in progress. One of the major topics discussed in the precious metals community is the manipulation of the gold and silver prices by the large bullion banks. It is perplexing why the cme does not bring silver position limits into line with the other major. For more see the following link to the cftc report. If your browser is configured to accept cookies you will see a button at the bottom of the holdings calculator. Apr 23, 2012 the manipulation was ended when the cftc stopped all comex silver purchases and allowed only silver liquidation sales instantly driving the price down. These 2 companies are disliked in the gold industry, because they are the biggest hedgers, and therefore provide much gold to the gold price manipulation scam. Discussing comex silvercraig hemke 06042018 by craig hemke 2 years ago 26382 views no comments. The ratio of silver futures open interest to the amount of silver warehoused on the comex is even more absurdly disproportionate. Comex is one of the most wellknown and recognized exchanges for the trading of metals such as gold, silver, copper and aluminum. Price of gold this chart goes from jan 2008 to last fridays cot report.
The october 1929 crash did not cause the depressionenglands attack on silver was 95% of the cause. Mar 28, 2016 the 2 biggest contributing gold producers to wgc are barrick gold and anglogold. The difficulttoexplain price disparities between the current market price and the estimated prices based on money supply and physical aboveground stockpile dynamics suggests and add substantial weight to the allegations that the precious metals markets such as silver which is controlled through centralised commodity exchanges such as the comex as part of the cme. Majestic silver ceo, called for pm miners to stop supplying the comex.
With both the comex and lbma showing problems of having enough silver to make physical deliveries, i anticipate that demand will mount in the next few weeks. Economic warfare as an instrument of transnational organized. The who, how, and why behind silver price manipulation. More than 5 million ounces were physically moved last week, as total silver inventories rose another 2 million oz to 173 million ounces. Interactive chart comex warehouses registered silver. Large investors, price manipulation, and limits to. The world is confronting the effects of the coronavirus. Silver and gold must be suppressed to prevent undue embarrassment to federal reserve money lest too many start thinking metals should be remonetized as currency. By all accounts the price volatility in silver for the month of may 2011 was shocking. For stutz motor, piggly wiggly, rca, and the silver futures on comex, we used the. Specifically, there exists an extremely large and unusual concentrated short position in comex silver futures held by a few large traders that defies economic justification. Pcr speculates that the fed ran out of physical gold around 2011, and then turned to naked short selling of gold to suppress the gold price. December 18, 2019 open questions about to be answered.
Pdf the aim of this research is to determine to what extent the price of gold is. Frightening comex silver volume in may massively distorts. In fact, what led me to being convinced that a conspiracy exists in silver is a whole series of questions that cant be answered in legitimate terms, including how the regulators tolerate comex speculators setting silver prices to the worlds producers, even though those producers dont participate in comex trading. The silver conspiracy its not just price manipulation. The leading beneficiary of the comex silver manipulation, jpmorgan, has made billions of dollars in illicit trading profits since it became the leading short seller in comex silver futures on its takeover of bear stearns ten years ago and has used its suppression of prices to amass 700 million ounces of actual metal on the cheap. Us government takes two more steps toward nationalization of private retirement account assets. Fund manager dave kranzler joins doc and eric dubin to discuss the agressive management of precious metals markets.
Lets first hit the basics at 241,5 contracts, total comex open interest represents 1,205,675,000 ounces of digital silver. Dollar article pdf available in international business research 83 february 2015 with 1,484 reads how we measure reads. Gold and silver manipulation at london am fix or new york. The pilgrims society has been keeping the world on the right track congressional record, august 19, 1940 and it is the most powerful international society on earth and is so wrapped in silence that few americans know of its existence since 1903 the empire of the cityworld superstate, 1946. Gold, silver and pgm coins gold bullion coins buying portable physical gold silver bullion coins and 90% junk silver coins platinum and palladium coins coins that are not recommended for bullion investors summary. The red line is the price of gold right axis and the black line is the net short interest left axis of the commercial segment on the comex.
No cogent argument can be formed against the reality that because of the continued fall in gold inventory that within. Gold prices surged 4% last thursday june 19 and silver by 5% in the single largest oneday price rally in months. For decades now, both the gold and silver markets have been awash with allegations of systematic price manipulation resulting in the severe suppression of the. The spot price of gold per troy ounce and the date and time of the price is shown below the calculator. Aug 04, 2016 the brothers were out of cash, and bache was unwilling to accept silver in its place, as it had been doing throughout the month. So far, there are 2,886 confirmed total cases of the coronavirus. Econ 101 silver market manipulation tf metals report. Silver thursday, historical event, silver manipulation ran. To make them comparable to comex which report volumes by round turns, the shfesge volumes are halved.
In aftermarket trading on april 29, the price of gold reached around. This again goes to the basic core fundamentals that i keep preaching, and that is the overall silver market is getting very skinny as far as what actual physical. For example, consider the three year period from 18941896, illustrated below when about 29 million ounces of silver were used to mint silver coins and 64% of that silver went to produce silver dollars vs. Discussing comex silvercraig hemke 06042018 sprott.
He has been the first analyst in this area to explain in great detail the mechanics of silver manipulation, but also to provide hard evidence on numerous occasions. The current silver short positions would require about 5 days of global mining production to cover an amount that is not just sitting in one place, owned and allocated to the short sellers waiting to be. Silver confiscation under executive order 6814 smaulgld. This sort of manipulation exists in financial markets as traders try to influence the markets. Ted butler has written extensively about silver manipulation.
The manipulation of gold and silver prices seeking alpha. The comex has since gained prominence as the primary clearing house for trading gold, silver, and copper futures. These are the same banks that many suspect have a hand in gold and silver price manipulation. Here is why you want to help crash the big banks message 27297278 the kaiser code silver manipulation class action suit. Totals for gold and silver holdings including the ratio percent of gold versus silver will be calculated. April 06, 2018 with the open interest in comex silver blowing out to a new alltime high yesterday, we thought it best to discuss again what this indicates and what it doesnt.
Andrew maguire is a british commodities trader and whistleblower. This month, comex silver open interest rocketed past 230,000 contracts as the cartel created new short issuance to matchup against persistent interest among speculators to get long. Two of the chats between deutsche bank and bnp paribas reference collusive trading techniques. Since 2003, has provided silver investors with the latest silver market news and information. Silver manipulation reaching extreme levels silver doctors. In 1994, comex merged with the new york mercantile exchange nymex, officially becoming its division responsible for metals trading. Ssrm recently closed canadian gold operations giving as excuse virus concerns.
In his latest update to his premium subscribers, he explains how jp. The first is the resolution of the justice departments criminal investigation, including guilty pleas by and indictments of traders from jpmorgan, into precious metal manipulation on the commodity exchange, inc. Silver manipulation is approaching extreme levels on the us silver market. Sep 20, 2011 however, a new crisis came to the forefront last week, receiving little coverage by the american mainstream media. The enforcement division of the cftc began pursuing allegations of manipulation of the new york metals exchange, the comex silver market in september 2008 the comex is a division of the new york mercantile exchange or nymex. Jul 23, 20 my dear extended family, the cause of todays spectacular rise in the gold price is the reality that with friday continues large drops in the comex warehouse gold inventory. Review covers a survey of derivatives on the books of banks and dealers in 30. The undeniable manipulation of the silver market adams economics.
How silver is being manipulated is affecting silver prices. I first saw it in a zerohedge article and subsequent articles on bloomberg and in the wall street journal, but all those accounts were somewhat off target compared to the cftc announcement itself. This short position and jpmorgans existing comex short silver positions gave jp morgan substantial market power in comex silver futures contracts. It has since spread to other parts of china and beyond. Plaintiffs also fail to allege market manipulation by any of the. Because the price control of the comex is continuous, if silver prices are manipulated, as i allege, the manipulation is in effect whether prices are falling or rising. It likely originated in wuhan, china, where it jumped from animals to humans at a local food market.
Ted butlers discovery of massive silver market manipulation should highlight the size, scope and importance of silver to the current financial crisis. Since there is no obvious explanation why just 4 and 8 large traders would be more heavily short silver than in any other commodity, away from seeking to cap and control prices, the most plausible conclusion is that they are protecting and continuing their perfect trading record scam. January 18, 2011 total comex silver open interest 5,675 contracts. This blows away the previous alltime high seen on april 20 of last year at 234,787 contracts. In 1980 the us government held 3b oz of silver and in order to maintain the lower silver price levels they sold the entire stock of silver into the market over the next 25 years. Abms silver statistics msn moneycentral silver industry comex silver comex silver contract specifications comex silver warehouse stocks silver option volatility analysis silver cftc cot data tocom silver. This action arises from defendants manipulation and restraints of trade in.
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