AP
Stocks Rise As Risk Appetite ReturnsWednesday
August 22, 6:35 pm ET
Wall Street Advances As Investors Sell Safe Government Bonds, Banks Borrow From Fed
I don't know about you, but that headline hardly tickles my confidence in the markets. I guess the precious metals will be up today as these "bold" investors seek out "risky" investments.
Of course, they'll be up in Europe and Asia... And as soon as the criminals in New York get a crack at them, they'll probably head south. Dem Rat Bastids ongoing effort, in concert with the Fed and Treasury, to suppress the truth these metals speak has gone beyond the obvious now. Take a look at the chart above from Kitco. The chart speaks for itself and clearly addresses the claims of market capping and manipulation. Up in London, Down in New York. In London, real bullion is bought and sold. In New York, PAPER is sold and sold and sold again.
The COMEX is the most criminal of enterprises that exists in the country...perhaps in the world. Daily action on the COMEX is geared towards one end ONLY. And that is the manipulation of "price". This filthy trading pit deals not in Bullion, but paper. The "price" of Silver did not go down yesterday morning because people were selling Silver. The "price" of Silver didn't go down yesterday morning because people were borrowing Silver and selling it short either. No, the "price" went down yesterday morning on the COMEX because the criminals that run this market place allow the criminal traders that trade there to print pieces of paper that allow them to sell Silver they don't even own or even exists for that matter.
One Silver contract on the COMEX equals 5000 ounces of Silver. Silver Warehouse Stocks on the Comex as of yesterday were 134,860,323 ounces. Friday August 17, 2007 COT report showed a TOTAL 113, 531 contracts SHORT Silver. The math is simple 5000 X 113,531 = 567,655,000 ounce of Silver held SHORT on the COMEX. But the COMEX only has 134,860,323 ounces of Silver available. What is wrong with this picture? In fact there is not even nearly enough Silver on the COMEX to cover all the LONG contracts. The LONG contracts equal 470,230,000 ounces. The COMEX could NEVER deliver on all those contracts were they to take delivery on contract expiration. In fact, there are 17,425,000 more ounces SHORT on the COMEX than LONG. What a scam. Can you imagine what the price of Silver would be today if the COMEX did not exist?
Silver has once again risen over night. At this hour Silver is trading above 11.80 and appears set up to try and takeout 11.95 resistance. Will it be allowed to? Resistance expected to follow should Silver clear 11.95 will be at 12.07 / 12.28 /12.57. .28 and .57 may be particularly difficult as they represent old support that is now new resistance.
Gold too has risen over night and is trying an assault on the important 663/664 area. Gold may chose to rest and consolidate this region before moving higher, much as it did near 658 earlier in the week. A move through 663/664 will find the road to 670 bumpy. Gold is clearly gathering momentum as investors appear to be finding their way to the "safe-house". Further deterioration in the Dollar will accelerate the search for this safe-house. Monday, Gold holdings in Street Tracks ETF, GLD, reached an all-time record. Silver will piggy back any moves in Gold at this time. If you're interested in Gold and Silver stocks, now is the time to be loading the boat as these sale prices won't last much longer.
It's Always Darkest Just Before Dawn!
By Peter Degraaf
SILVER TODAY IS AN ABSOLUTE BARGAIN!
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