Dear All, This was released today: It discusses silver price
manipulation.
Don’t we have to assume it is true of all precious metals, and
silver is the only one that has been “caught” so far? I can’t begin
to imagine how this will affect us all. We should hear better news,
http://www.ganoksin.com/gnkurl/19g
Eve.
Eve- back in the late 70’s-early 80’s the Hunt Brothers of the Hunt
Oil family got involved in silver manipulation.
They got caught and punished, though not to my satisfaction.
In a snap silver went from $40.00 an ounce to $4.00. It stayed at
$4-6 and ounce for years. That’s when I bought pounds of it.
If I had any extra gold or silver right now I’d be trading it for
platinum. Remember to keystone your materials so that you can make
more money. Two times $40.00 is a lot more than two times $4.00.
Continue to push the idea that jewelry is a luxury item. Something
special. And…What we do is magic. If it was easy, everyone would
be doing it.
Have fun and make lots of jewelry.
Jo Haemer
www.timothywgreen.com
If you read it, you will see that they were selling “short” which
would have had the effect of suppressing prices. In other words,
silver should have cost more than it did. The reality is that this
manipulation doesnt and didnt change the “spot” prices (daily selling
fix of price) and is basically a bet on what a price will be at a
specified time in the future. They didnt have to actually deliver any
silver so any gain or loss is purely a gamble. Nelson and Bunker Hunt
got caught out in the 1970’s in the same way, they bought up all the
silver future contracts and pushed up the price but couldnt actually
deliver silver to any customers when the time ran out and lost about
a billion dollars when you could actually buy something quite decent
for that sum.
The moral of the story? a bird in the hand is worth two in the bush.
It only goes to prove that the banking fraternity havent learnt a
thing and I hope that they get their just desserts. JP Morgan were
the first bank to buy heavily into precious metals rather than
stocks and shares because you can transport it elsewhere and it is
always the same, unlike currency. However, they didnt do this until
late 2009 so it is a certainty that they knew they were going to get
caught out on this.
Nick Royall