"can even the most rigged game in the world create silver out of thin air?"
No. But, that didn't stop TOCOM from freezing palladium trade when they didn't have any. And it didn't stop COMEX from freezing out new longs when the Hunt brothers did there thing in the early 80's. And it didn't stop the LBMA from unilaterally lengthening the time for delivery when Warren Buffet bought in 1998.
My point is you might have to be patient about being rewarded. Even after the precious metals markets break down (and all of them will, as palladium already has), it may take time for the world to make new ones.
You see, because the world is now run by crony capitalists, the price of things (more specifically, artificially lowering the price of real things) is more important than ensuring a stable supply of real things.
So we'll have shortages of everything. As I have posted many, many times of the past two years, the reason OPEC has us is because of the excessively low oil price policy of the Clinton administration, which, in turn, was another way of benefitting both himslef and Wall Street. America's interest required somewhat higher prices so that a few of our local, higher cost producers survived.
Have you noticed that while oil is trading below its record highs (and well below in inflation adjusted terms) gasoline is headed for records this summer. Why is it the refining part that we, not OPEC, do, is the problem?
Have you noticed that the Clinton Administration is in the process of reversing virtually every major foreign American policy stance of the past twenty years toward the major third world countries (i.e., softer on Iraq, conciliatory with Iran, overtures toward Tripoli, critical of Pakistan vis a vis India)? Gee, I wonder why? |
