JP Morgan bought hundreds of millions of ounces of Silver...


galtgulch

Recommended Posts

The long time silver analyst,Ted Butler, pointed out in an article in the Market Undate newsletter of Investment Rarities Inc that the bank most responsible for driving the market price of silver down to 15 dollars an ounce has been purchasing hundreds of millions of ounces of silver metal recently.

1-800-328-1860 is the Investment Rarities number to call to ask for a Free one year subscription to James Cooks MARKET UNDATE.

www.investmentrarities.com

In addition to all the other reasons why silver is profoundly undervalued, this factoid about JPM suggests that this juggernaut will not very likely be engaged in naked short selling of silver futures which drove the paper silver price down over the last several years.

Given the worldwide printing of paper fiat currencies by all major countries which persists it wouldn't take much to generate an interest for investors to take a position in silver and gold.

Another excellent source of silver and other precious metals and coins is APMEX.

Imagine Hank Rearden encountering Ragnar one dark night and being given a gold bar because Ragnar wanted Hank to be aware that there was an account in an amount equal to all the taxes he had paid in his name so that after the crash it would help to restart the country.

Similarly, I want Objectivists to take advantage of this opportunity to be holding some incredibly inexpensive silver which is far below its actual value in the world today, when all the paper fiat currencies including the dollar, which is no longer backed by gold or silver as the Founders intended, collapse.

In the Coinage Act of 1792 the dollar was defined as a coin containing 371 grains and 4/16 of a grain of silver. That was the amount of silver on average in the Spanish milled dollar which was in circulation in the British Colonies in those days. Ever wondered why you find a mention of "foreign coin" in Article 1 Section 8?

The Continental was a fiat paper currency created to pay the men who came forward to fight the British Redcoats. A promise for the Continental to be redeemable for gold or silver coins was made but not kept and instead became worthless, which has been the fate of all the paper currencies in history.

Although the Keynesian Federal Reserve Chairmen are incredulous that their attempts to stimulate the economy with their trillions of "dollars" hasn't worked and conclude that they haven't introduced enough counterfeit dollars yet, they have actually engaged in the process of destroying the purchasing power of the dollar. In time other countries will choose not to purchase our dollar denominated Treasury Bonds and the dollar will fall altogether.

We are in the calm before the storm. Calling it a recovery does not make it so. The actual unemployment rate is not 5.6 rather 23. All the trillions created by Bernanke and now Yellen have driven the stock market up to its unsustainable heights. Everyone, with few contrarian exceptions, believes we are in a bull market which will continue to go up, with a little help from the Fed.

The other dreadful event which is coming our way is the eruption of Yellowstone which has been releasing tons of Helium 4 which is an indicator of an extinction event.

http://beforeitsnews.com/environment/2015/04/yellowstone-on-alert-orange-suits-at-old-faithful-2527452.html

Wish there were a way to keep that from happening!

Link to comment
Share on other sites

The value of silver is determined primarily by its demand for industrial use. The value of gold for its non-industrial use. The true linkage between gold and silver for monetary purposes was destroyed by a surfeit of silver production in the western United States in the late 19th C. The psychological linkage continues contributing to generally more volatility in silver prices than gold. As for gold, it's no inflation hedge. It's insurance against catastrophic collapse of a currency, an asset hedge. Other assets can work too. Each has advantages and disadvantages. The dollar cannot collapse except for reasons existential to the global central banking monetary system in which the US Federal Reserve is the major player. As long as the euro is structurally a mess and the yen competitively debased this will remain the same. Dollars abroad can flow back into this country and many have seeking other assets to escape monetary oversight primarily in real estate. This has little effect on our gigantic economy and the prices at the supermarket and represent big money but that big money is not so big relative to what it's being used for--not much. The floor on gold prices seems to be in and seems to be basing out for moving gradually up, however, but it's not fear of inflation. It's fear of wealth being tracked electronically and almost all wealth is in the form of electronic entries. That explains Manhattan ramp up in re prices. The big money. The big money can't store large amounts of gold but it can turn bucks into an apartment not lived in. Smaller players, though, I suspect, are now using gold to hide their wealth tracks. The IRS can throw a switch and clean out your bank account. I just opened a new bank account at a new bank. It took half an hour for the banker to finish interrogating me. Twenty years ago they only needed a picture ID, now that's only starters. My picture idea photo can be accessed by the FBI because it's on my driver's license. If you have a cell phone they know where you've been. Some real bad boys have been linked to murders they took their phones to.

So buy gold and silver. They're insurance and savings. If you're afraid of inflation they're a comfort. But don't tell anyone, including your wife. She'll blab it to someone and with that cat out of the bag it's not your gold at risk but your life. Hers too. Evil people will torture her in front of you until you give it up. Then torture her some more to make sure they got it all. Then kill you both. The only thing you'll be thankful for before your last breath is you don't have any children.

--Brant

such is the power of gold

Link to comment
Share on other sites

The other dreadful event which is coming our way is the eruption of Yellowstone which has been releasing tons of Helium 4 which is an indicator of an extinction event.

http://beforeitsnews.com/environment/2015/04/yellowstone-on-alert-orange-suits-at-old-faithful-2527452.html

Wish there were a way to keep that from happening!

Not a chance. If it happens there is nothing the humans can do to stop it. All we can do is arrange for a few humans to hunker down in an air conditioned bunker and survive the disaster....

Link to comment
Share on other sites

Baal,

I think you are correct. As I understand it, the ash would spread all over the entire world, block out the sun for a number of years, cause the death of virtually all plant life on the planet, with extinction of animals which depend on the food chain, including humanity.

It would be tough to survive in the world that would emerge as rather desolate unless enough seeds remain dormant until the sun comes out again.

In the meantime, we have to content with a world full of countries whose leaders are ignorant and authoritarian, to put it mildly.

Link to comment
Share on other sites

I don't think it'd be near that bad, gg, because it has exploded three or four times without any evidence of mass extinctions in the geologic record including all that time our ancestors were roaming the African savanna.

--Brant

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now