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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: I_C_Deadpeople who wrote (19049)	9/1/2009 1:41:21 PM
From: Ken Reidy	6 Recommendations Read Replies (1) \| Respond to of 49967

Silver, I'm not smart enough to understand exactly how this all fits together, but today has to be the most blatant example of shorting the silver stocks to try and get the silver price down that I have ever seen. From last Night's Midas.... Dave from Denver has been spot on re silver and notes this afternoon… It will be very interesting to see the silver o/i tomorrow. Anyone with an account not funded to take possible delivery of Sept silver has to be liquidated by today. Right now there were 3846 open contracts as of Friday and the "estimated" volume for Sept is 2209. That means that 1600 or so are still open. I bet we close today with 1500 at least. If they all stand for delivery, that's 7.5 million ozs. I bet that's why silver popped like it did going into Comex close. ///////////////////////////////////////////////////////////// Well it happened again today...they simply could not get the price of silver down despite shorting the major silver stocks way down...heck SSRI and Slw are still down 4.5% despite the metal's incredibly strong price action. For those of us who have long suffered the supression of the silver price....let's hope we are close to the point that physical demand overwhelms the comex paper shorts....

To: I_C_Deadpeople who wrote (19049)	9/1/2009 1:58:26 PM
From: Charles Macdonald	4 Recommendations Read Replies (2) \| Respond to of 49967

IC - IMO, the real value of a Fed Audit is simply lifting the covers back and VERIFYING the account entries, balance sheet amounts, who is a counter party, etc. (ie - Why, what, where). Are they within the confines of the Federal Reserve Act? The audit process (even of complex transactions) is really not that difficult. Sure, some transactions can be very complex. But in my experience, the more someone wants you to believe the complexity of a transaction - they are simply trying to bend common sense or basic "follow the money" logic. It comes down to basic verification. Why did you book this? Did you book all others like this? Why or Why not? How did you value this? Why did you do this one differently? Are you following established regs/rules? Most audit mistakes can be traced back to someone failing to ask the following question - "Show it to me." JMHO - former CPA and Auditor.