KlappTrappSyphMan, unsure of your COT silver figures
help me to understand what you are pointing out with COT
here are my morsels
Buffet bought in 1997-98 a reported 129 million oz silver
it is vaulted in Europe now, out of grasp of US Evildoers
Buff has done something smart also
he has lent much of the silver out, called leasing
he earned so far $1/oz against his original $4.50 cost
this is the physical equivalent of selling covered calls
except you cannot be called away, instead it is replaced
more like a stock brokerage lending stock for shorting
it must be replaced to the brokerage house
the reported Comex silver supply is 150 moz
annual world silver demand is 800 moz
annual production is 500 moz
annual foto recycle production is 150 moz
annual silver deficit is therefore 150 moz
my figures are from Wally Bently and confirmed elsewhere
depleted world silver reserves since 1990 are 1200 moz
USMint has announced empty US Strategic Silver Reserve
that used to be 6200 moz back in WW2 time
USMint is now a buyer on the world silver market
silver price is not climbing steadily for a simple reason
it is being suppressed by the central banker/ bullion banker collaboraters
from 1995 to 1999 the central banks encouraged a gold and silver carry trade with bullion bankers
e.g. JPMorgan and Citibank
they would lend it out for a criminal 1% lease fee
then JPM and Citi would sell the lent metal on market
at yearend they would buy on open market, pocket huge profits
if done on physical market, small profits
if done on futures exchanges, huge profits
if done with futures options, astronomical profits
called carry trade
(seen it done with Yen/USTBond from 1994 to 1998)
no problem with gold, since not consumed
so at yearend, what gold was borrowed at 330 was bought back at 310
then borrowed at 310 and buyback at 290 the next year
etc
so at yearend, what silver was borrowed at 510 was bought back at 490
then borrowed at 490 and buyback at 470 the next year
but in 2000 and 2001 and 2002, it has been rolled over into a new paper silver short contracts, and an increasing number of them
in 2000 the open interest short silver was 50 million oz
in 2001 the open interest short silver was 120 moz
it is climbing
it has to climb
(like pushing a tire tube underwater, harder if lower)
silver breaks the game wide open
the big boys are onto it
on the inside the big boys have become tools of the Federal Reserve (JPM, Citi)
they are promised something by the Feds, to be sure
they originally were collusion partners with the Fed and BankofEngland and Bundesbank
but now their longstanding collusive tie has led them to switch from carry trade participant to shorting partner
they are tools of the Fed, hellbent on destruction
with such a relationship with the Feds, bullion bankers cannot easily pull the switch and jump from short to long
as bullion bankers, they work very closely with the Federal Reserve
most folks dont know but the biggest gold reserve is not in Fort Knox
it is in NewYorkCity's Federal Reserve Bank
JPMorgan and Citibank are deep in bed with Feds
for both legitimate and illegitimate work
remember, Robt Rubin was Treasury Secretary under Clinton
now he is topdog at Citigroup
he probably taught GreenSpasm the carry trade game
does anyone wonder why Rubin resigned in early 2000?
it was to get out of govt and short the Nasdaq !!!
now I expect he will quickly switch sides and profit from the explosive upmoves
but allow JPMorgan to go under, a competitor
on the outside, Buffet is in and could not double his position if he tried
on the outside, Gates has bought the largest single position in PanAmerSilver (PAAS) in nearby Vancouver
on the outside, Soros has founded a promising mining firm Apex Silver (SIL)
on the outside, the Rothchilds family has been a big buyer
the big boys are aligned in opposition inside & outside
inside players are the guys who were in bed with the central banks with the gold/silver carry trade cozy game
but now, central banks have no more silver to put into the game
and the bullion bankers have replaced borrowed silver with paper silver
check out a rich website source
www.gold-eagle.com
and root around for the silver reports
great great articles
also, check out a different Mantz website
www.financialsense.com
and root around for Puplava's series on "Perfect Storm"
thanks so much for SilverBackGorilla name
very excellent, very appreciated, very cool, way cool
consumption of silver breaks the back of the game
expect to see a low silver price AND default shortages soon
then the game explodes in their faces
and takes gold up also, but nowhere near as much
by the way, silver bottomed about 40 cents lower, 10%
the goldeagle guys made a silver index that clearly bottomed
it is the only silver chart index I have seen
that is my financial side report, with no fundamentals in silver applications and replacement substitute attempts, which are ALL failing
please continue this line of discussion in depth
for a while, I thought I was talking to myself
if you have any trouble with goldeagle or financialsense, let me know
/ jim |
