N********n
发帖数: 8363 | 1 New conspiracy theory:
Harvey Organ
Both Ted and I agree that the phony exemptions by JPMorgan is where the
illegal shorts on silver sits. Ted believes that China is the real short
behind JPMorgan and the authorities over at the CFTC are letting the CME
regulate themselves and they all collectively throw up their hands in
desperation as they do not know what to do!
I am almost in agreement with Ted on this except it is my contention that
China originally supplied their above ground silver in or around the year
2000 as the USA exhausted all of its above ground 2 billion oz. In order to
carry out the gold price suppression scheme, you needed to suppress the
price of silver as well.
It just would not look good to have gold knocked down to ridiculous levels
and have silver soaring. This is where Mainland China stepped in. This was
just around the time when President Clinton gave China favoured nation
treatment. China loved the scheme. They bought gold at depressed levels with
their left hand while supplying their above ground silver with their right
hand.
Thus, Ted may be correct that China is short, but they may have hedged their
physical loans to the usa by supplying paper silver to the comex with no
intention of delivering the metal to buyers. However the obligation to
supply is on the bankers and this is why they are supplying the contracts
with reckless abandon. I think I am right on this one! | N********n
发帖数: 8363 | 2 If that's true then China has got US by the balls. We'd love these crooks
rigging gold for us to buy at low. We then sacrifice some silver to them
to keep the rigging going while we were buying the gold. We left a catch
for JPM by giving them only empty silver future contracts that we could
default at any time, making JPM the sucker holding the bag @CRIMEX.
Were our folks in Beijing this smart? Hmmm, let's wait and see. | N********n
发帖数: 8363 | 3 Follow-up:
Imagine you are China.
At some point, probably shortly after the year 2000, a large US bank
comes to you via the US Treasury discreetly and asks to borrow 300 million
ounces of silver. The deal is that the Treasury/Fed will provide you with US
Treasury bills as collateral. The US sweetens the deal by granting the
unrelated negotiating point of most favored nation trading status, and
explicitly but verbally guarantees the deal with its full faith and credit.
The Bank, with explicit US backing, promises to return your silver on demand
after four years.
Some six years later you come back and ask the Bank for your 300 million
ounces of silver. They say that the silver is gone, having been sold into
the physical bullion market.
So you ask, well, what did you do with it?
And the Treasury answers, we lent it to the bullion banks and JPM, who
sold it in the markets as a part of our plan to keep the prices of gold and
silver from rising, in order to sound a warning about our monetization of
the reserve currency using Treasuries.
So you approach the US Treasury and complain, asking them to honor the
agreement. The Administration says, “we are sorry, but we no longer have
the silver and we do not have any in our reserves. So you can keep our paper
IOUs we offered as collateral instead.”
You are very angry as you do not wish to own more paper, but instead the
bullion which is a legacy asset. You, as China, consider the situation,
and start selling silver short on the Comex, using HSBC and JPM as your
agents. They sell the entire 300 million ounces of silver short. On the side
and through other sources, you are using other agents to buy this same
silver in the form of physical bullion for your own reserves. You consider
this an equitable return of your bullion at a relatively neutral price
compared to that at which you lent it.
When JPM and HSBC need the silver to cover the pledges on the short sale
as more people demand delivery and existing supplies become tighter, you as
China offer the pledge of the US for your 300 million ounces of silver as
collateral and says “collect it from your colleagues at the US government.”
Technically the short sale is ‘hedged’ because the US offers little
counter-party risk, and it is their IOU that is the basis of the short sale.
The problem is that the collateral is in dispute between two sovereign
nations.
But in point of fact the US does not have and cannot obtain this
quantity of silver without severely disrupting the silver market, or
demanding the output of its own silver mines which is unconstitutional. They
do have the power to force a ‘cash settlement’ for the short positions,
but this would be viewed as precipitating a major default on the Comex and
with the Fed's "house bank" JPM. Not exactly a trust builder in already
shaky markets tainted by scandals of fraudulently valued paper.
And so the market remains at an impasse with a tremendous undeliverable
short in silver with the US and JPM in a very embarrassing position of being
entrapped in what China considers their own scheme by one of the few
entities capable of standing up to them – their major creditor China. | N********n
发帖数: 8363 | 4 A simplified version:
I am China. My friend is JPM/Treasury. Let’s call him Jamie.
His wife Joan is the American public.
Jamie calls and borrows $1000 dollars from me. He promises to pay it
back in four years and gives me an IOU.
Four years later I call Jamie back and ask for the return of my loan.
Jamies says sorry he doesn’t have it. Too bad. So sad.
I then in turn borrow $1000 from his wife Joan. When she asks for return
of her money I hand her Jamie’s $1000 IOU and tell her to get her money
back from her husband Jamie.
I now have my money back, and perhaps a little personal satisfaction to
boot, depending on how Jamie had spent my $1000 in the first place, and what
if anything he had told his wife about it. |
|
