Help Crash JP Morgan. Buy 1oz of Silver!!! [Archive] - Ron Paul Forums / Liberty Forest

PeacePlan

11-12-2010, 10:48 AM

If you are going to spread this calling to folks who aren't tuned in to the issue, you had better do a really good job explaining why anyone would want to destroy one of the largest banks in the country and what the implications of that will be. I can see a lot of people looking at you at thinking, "This guy is mad. He wants to destroy our country."

I agree that most people may not warm up to this idea. On the other hand there are also a large number of people that are so pissed at bankers they want them all crashed and burned..........

At least the price has come down and those that do buy will get their hands on some silver cheaper maybe for the first time. I don't think it will work as this will only make a shortage on retail market and JP is doing its thing in futures. In the long run it may help drive prices but it will take time for that to work its way to COMEX IMO

ctiger2

11-12-2010, 10:49 AM

ctiger2

11-12-2010, 11:30 AM

http://www.economicvoice.com/max-keiser-tells-the-world-to-crash-jp-morgan-buy-silver/50014046#axzz155e21yvd

Max Keiser tells the world to Crash JP Morgan, buy silver (http://maxkeiser.com/2010/11/12/crash-jp-morgan-buy-silver/)

November 12th, 2010
Author: Jeff Taylor

It is now reaching the general consciousness that it is those with the money that control our destinies. Where once many believed that our betters who order our lives reside in Westminster, the realization that those with the power are more likely to inhabit the City’s Gherkin building is dawning on us.

Some of those people are now heading the largest and arguably most successful institutions in the world, the banks. Everyone now wants to get in on the action of money shuffling. And as they do the more of a monster it becomes until every move some of them make shakes the markets. And then the temptation to use that might turns into corporate policy.

On the 27th October two traders, Brian Beatty and Peter Laskaris, filed lawsuits against both JP Morgan and HSBC accusing them of manipulating the price of silver by “amassing enormous short positions”. The lawsuits being brought at the US district Court, Southern District of New York, which are also seeking to gain a class action status, allege that “… between in or about March 2008 and continuing through the present, Defendants have combined, conspired and agreed to restrain trade in, fix, and manipulate prices of silver futures and options contracts traded in this District on the COMEX division of the NYMEX. Defendants thereby have violated Section 1 of the Sherman Act, 15 U.S.C ¶1. Also during the Class Period, individual Defendants have intentionally acted to manipulate prices of COMEX silver futures and options contracts. Such conduct violates Section 9(a) of the Commodity Exchange Act, 7 U.S.C. ¶13b.”

The following day the National Inflation Association (NIA) assessed that JP Morgan are so short on silver and that the silver market is so tight that “…. silver prices could literally rise to $50 per ounce overnight. NIA estimates that $50 per ounce silver would mean approximately $4 billion in losses to JP Morgan”.

Bart Chilton, a US Commodity Futures Trading Commission (CTFC) commissioner said “I believe that there have been repeated attempts to influence prices in the silver markets. There have been fraudulent efforts to persuade and deviously control that price. Based on what I have been told by members of the public, and reviewed in publicly available documents, I believe violations to the Commodity Exchange Act (CEA) have taken place in silver markets and that any such violation of the law in this regard should be prosecuted.”

Max Keiser, (TV presenter, radio host, entrepreneur, broadcaster and journalist) who dubs JP Morgan as “the biggest financial terrorist on Wall St” and wants to give it a bloody nose, is calling on people to crash JP Morgan by buying silver so making its price go up leaving JP Morgan with a huge short position to cover.

Also stepping up to the mark (or maybe penalty spot) for a bit of bank bashing is the footballer Eric Cantona. He points out that it is a waste of time to wave placards, if you want to bash the banks just have a co-ordinated withdrawal of depositors money (well the first 5% that the bank actually has anyway). Then ” … they will listen to us in a different way” as the run forces them to the wall. There is a push in France to do just this on the 7th December (see video below).

Now, how about the double whammy? Take money out of the bank and buy silver! But just remember if you do, to buy physical silver and take delivery. The bits of paper that say you own silver are just that, bits of paper.

If you’ve got no money to withdraw and no money to buy silver then lend your support to Douglas Carswell MP who is campaigning to straighten the UK banking system out. At least then you can ensure that the money in the bank belongs to you and not the bank and that you can therefore dictate how they use it. Or maybe claim a free ounce of silver from BullionVault.

Bern

11-12-2010, 01:22 PM

Interesting. I wonder if that mention of a planned run on the banks in France on 12/7 is legit? Is it more than just some YouTuber?

Mike4Freedom

11-12-2010, 07:02 PM

Just bought 20 more ounces.

Michigan11

11-12-2010, 08:15 PM

Dr.3D

11-12-2010, 08:17 PM

I still don't understand how that would bother JP Morgan, wouldn't they just continue to sell paper metals and do as they have been doing all along?

Mike4Freedom

11-12-2010, 09:46 PM

I like the idea to buy an ounce and crash the bank.

Another way of setting something up like this is how many ounces need to be purchased, as in total million of ounces or whatever?

Some of us may pledge like the above poster to purchase 5, 10 or 100 ounces, who knows, then we don't need everybody... make sense?

Would be kind of encouraging I'd think to buy silver and know you are making a difference... could go viral who knows.

I am just buying it because this was a pretty big dip. I usually buy 10 ounces every other week. I decided to buy a lot more this week cause its at a better price and will just not buy any for a few weeks.

The JP morgan thing is just icing on the cake, haha.

eOs

11-12-2010, 09:51 PM

how much silver is this guy holding?

Free Moral Agent

11-12-2010, 10:10 PM

I am just buying it because this was a pretty big dip. I usually buy 10 ounces every other week. I decided to buy a lot more this week cause its at a better price and will just not buy any for a few weeks.

The JP morgan thing is just icing on the cake, haha.

+1

Just made my first bullion purchase today! Two 5 Oz. bars of silver. Bam!

TomtheTinker

11-12-2010, 11:36 PM

+1

Just made my first bullion purchase today! Two 5 Oz. bars of silver. Bam!

Feels good don't it.

Now Hold that silver in your palm and close your eyes while taking a deep breath in..now that my friend..that is what real money feels like.

PeacePlan

11-12-2010, 11:42 PM

I still don't understand how that would bother JP Morgan, wouldn't they just continue to sell paper metals and do as they have been doing all along?

JP Mprgan is short around 200 milion oz of silver by writing options on COMEX.

On the 23rd of Nov is expiration day and if the price stays high a lot of those options will be in the money, JP will have to pay up. Also some will demand to tale delivery. I don't see how this would do anything to JP as the spot price is set at COMEX by those bids on the options. It may make it hard to buy at your local coin dealer but none of it will come off the COMEX floor. The premiums on Silver over spot would or could rise from your local dealers.

APMEX hedges using COMEX options most likely written by JP........ If we all went and bought out all the stock from APMEX they would want more silver so they would want delivery on those contracts. Do not expect this to much to JP or COMEX IMO

Carson

11-13-2010, 01:05 AM

I still don't understand how that would bother JP Morgan, wouldn't they just continue to sell paper metals and do as they have been doing all along?

I've only glanced over this thread but I think that is the sort of thing the people in this thread are banking on.

Every once in a while the people trading paper silver are backed into a position where a situation arises where they have to stand and deliver.

They have to get there hands on real assets to make good.

fj45lvr

11-13-2010, 03:32 AM

I still don't understand how that would bother JP Morgan, wouldn't they just continue to sell paper metals and do as they have been doing all along?

well smart people in foreign countries can bet against them and call their bluff and demand physical and they are screwed. c'mon Foreign banks!!

I can't wait to see these guys go down for the count.

fj45lvr

11-13-2010, 03:35 AM

I've only glanced over this thread but I think that is the sort of thing the people in this thread are banking on.

Every once in a while the people trading paper silver are backed into a position where a situation arises where they have to stand and deliver.

They have to get there hands on real assets to make good.

Now you know where the QE2 cash is going....LOL.

Bern

11-13-2010, 06:22 AM

JP Mprgan is short around 200 milion oz of silver by writing options on COMEX.

... I don't see how this would do anything to JP as the spot price is set at COMEX by those bids on the options. It may make it hard to buy at your local coin dealer but none of it will come off the COMEX floor. The premiums on Silver over spot would or could rise from your local dealers.

Hw much available silver is there? Investor demand for a sudden 100 million oz should create a tremendous pressure on the COMEX floor I would think. It's half of JPM's short position!

Carson

11-13-2010, 10:14 AM

well smart people in foreign countries can bet against them and call their bluff and demand physical and they are screwed. c'mon Foreign banks!!

I can't wait to see these guys go down for the count.

Wouldn't the Globalist that seem to control our country just make us bale them out?

fj45lvr

11-13-2010, 06:04 PM

Wouldn't the Globalist that seem to control our country just make us bale them out?

bad logic....

perpetuate evil so we don't have to deal with evil??

PeacePlan

11-13-2010, 06:57 PM

Hw much available silver is there? Investor demand for a sudden 100 million oz should create a tremendous pressure on the COMEX floor I would think. It's half of JPM's short position!

You are talking retail demand and COMEX is futures. It would take time for this to reach COMEX as the spot price for retailers is set at COMEX

Don't get what I am saying wrong. I do believe buying 100 million retail oz of silver would end up increasing prices.

JP Morgan sells options and many of those options are in the money for the holders. Jp Morgan is underwater on many options they sold with strike prices that are below 25. Most of these are held by speculators that don't want any metal and will sell for cash. Retailers and manufacturers will want the metal as they bought those contracts to insure price stability - they will ask for delivery.

The more silver that is taken off the table will result in higher prices but it may not show for a while. In fact as I said the price is set at COMEX so JP could sell a huge amount of paper silver contracts and cause the price to go down...

Fundamentally the price of silver is going higher..

Price Demand Supply

Any change in one of the above three items effects the other two.

Demand by investors is soaring and new supply takes years to come online.

Also unlike many things Silver and Gold have a funny thing about them. Normally in most things as prices go higher you see less demand. In silver I tried to get people into when it was as low as 4.04 an oz and no one liked it and said I was crazy. I like to call it Gold/Silver fever as the price goes higher greed kicks in and demand increases. Take a look at Silver Eagle sales if you want confirmation that what I say is true...

How much Silver is there - I would guess a lot - better question is how much is in a form that can and would be sold - much less.. Anyone says they know is lying IMO

Zippyjuan

11-13-2010, 08:13 PM

So you need to get half the adult population of the whole country to buy an ounce of silver this week (or soon- not sure what your timeline is) and it MIGHT hurt JP Morgan.

Dr.3D

11-13-2010, 09:05 PM

So you need to get half the adult population of the whole country to buy an ounce of silver this week (or soon- not sure what your timeline is) and it MIGHT hurt JP Morgan.

I know, trying to get a large number of people to do anything in concert is nearly impossible. Many people don't know anything about what is going on and probably don't care to know either.

sync

11-13-2010, 09:15 PM

I think it would be really easy to get a lot of people to buy silver all at once. Just do a silver bomb and have the DailyPaul and Alex Jones promote it for a specific day. Instead of a money bomb where everyone donates money to a political campaign, everyone buys 1 or more ounces of silver. I think it could be huge. Do it every month to really cause an impact!

Bern

11-14-2010, 10:27 AM

Interesting. I wonder if that mention of a planned run on the banks in France on 12/7 is legit? Is it more than just some YouTuber?

I know, trying to get a large number of people to do anything in concert is nearly impossible. Many people don't know anything about what is going on and probably don't care to know either.

I think it would be really easy to get a lot of people to buy silver all at once. Just do a silver bomb ...

So I did some searching the other day and found a french blog that was discussing he Dec. 7 bank run in Europe (http://translate.google.com/translate?hl=en&sl=de&u=http://stopbanque.blogsport.de) and it listed a bunch of Facebook events where people are signing up to participate. I don't do the Facebook thing, but someone on another forum checked some of them for me and (as of Friday) they had:

Spanish = 689 people attending
Portuguese = 658
Danish = 161
Dutch canceled
English = 2,433
Greek = 138 (no one in Greece has money in the banks anyway)
Italian = 5855
German = 1501
French= 10,000

Looks like it isn't that big a movement (yet?) except for in France and Italy. According to the internets, Italy has a population of roughly 60M and France has roughly 62M. Not sure what percent of that is working age adults, but lets assume 50%. That would mean ~30M adults each. Figure 80% of adults have accounts with the banks (I'm guessing some families have just one account) and the number of accounts could be in the neighborhood of 24M (each). To get 1% of accounts withdrawn, they would need roughly 240,000 participants (each). Rough numbers and of course it matters if rich people with lots of money in the bank are participating or not.

~~~

... In fact as I said the price is set at COMEX so JP could sell a huge amount of paper silver contracts and cause the price to go down...

Might be difficult for them to do so now that they are in the spotlight with class action lawsuits and the full CFTC investigation results alleging manipulation pending.

osan

11-14-2010, 10:38 AM

If you are going to spread this calling to folks who aren't tuned in to the issue, you had better do a really good job explaining why anyone would want to destroy one of the largest banks in the country and what the implications of that will be. I can see a lot of people looking at you at thinking, "This guy is mad. He wants to destroy our country."

Busting JP Morgan's jaw might be the best thing anyone has done in a long while.

If the governors charged with seeing to it that these bastards are playing nicely will not do their jobs, then I say let the market take care of business. If Morgan goes under, BFD. The world will continue to turn and life will go on.

PeacePlan

11-14-2010, 10:43 AM

Might be difficult for them to do so now that they are in the spotlight with class action lawsuits and the full CFTC investigation results alleging manipulation pending.

True the spotlight is shining on COMEX but these guys are magicians and they have many ways to use and manipulate markets. I do hope they get caught with their shorts down for all to see but history has taught me they are good at getting out of things like this. At the very least they know if they are going to blow up or collapse and have a plan.

osan

11-14-2010, 11:36 AM

So you need to get half the adult population of the whole country to buy an ounce of silver this week (or soon- not sure what your timeline is) and it MIGHT hurt JP Morgan.

Right. Does anyone know how large a short position they have taken on? It would have to probably be in the tens of billions of dollars to hurt them noticeably. That is a lot of silver.

Seems to me the bigger picture is being missed here, folks. If what is alleged is true, then silver may in fact be in a bubble. If silver is, then gold probably is as well - and if that is true, then guess what? BOHICA! Yes kiddies, we're having it done to us yet again. Big boys like JP Morgan do not take short positions on such epic scales unless they KNOW something. Remember that banks are inherently RISK AVERSE, and the really big ones are to the point of morbidity. They may not give a damn about your money, but they damned sure do about theirs.

ctiger2

11-16-2010, 01:08 PM

YouTube - MODERN DAY HUNT BROTHERS: Buy Physical Silver & Beat the Banks (http://www.youtube.com/watch?v=DGMu7fMJPfc)

Seraphim

11-16-2010, 01:12 PM

Right. Does anyone know how large a short position they have taken on? It would have to probably be in the tens of billions of dollars to hurt them noticeably. That is a lot of silver.

Seems to me the bigger picture is being missed here, folks. If what is alleged is true, then silver may in fact be in a bubble. If silver is, then gold probably is as well - and if that is true, then guess what? BOHICA! Yes kiddies, we're having it done to us yet again. Big boys like JP Morgan do not take short positions on such epic scales unless they KNOW something. Remember that banks are inherently RISK AVERSE, and the really big ones are to the point of morbidity. They may not give a damn about your money, but they damned sure do about theirs.

Generally I'd agree. But with the manipulation of PM's on the down side for such a long time I'm inclined to think long term, silver is going higher. Their stranglehold is coming to an end- and they may not know it yet (but they sure as hell are starting too). As a result the basket ball being held under water (silver) is starting to have too much pressure pushing up to stay down long term, no matter what the big banks do.

Melissa

11-16-2010, 01:14 PM

Ok I want to buy silver where do I go lol? This will be my first time so it wont be much but sure will try getting some

Bruno

11-16-2010, 01:16 PM

Ok I want to buy silver where do I go lol? This will be my first time so it wont be much but sure will try getting some

Do you have a local coin shop? If so, that's the best place to start, imo. Otherwise, you'll be fine with apmex.com

Buy bullion, not numismatics.

Melissa

11-16-2010, 01:17 PM

Seraphim

11-16-2010, 01:22 PM

Yes i think I have a local coin shop..what do I do just go in and look at silver coins

Thanks so much I just read crashing the dollar and I really dont have much money but want to start getting some silver each week for awhile

Good attitude. 1-5 silver ounces a week will make you proud of your actions a few years from now. Seriously. 1 a week is better then none a week.

Bullion and roughly 2-4$ over spot depending on the coin/bar.

Bruno

11-16-2010, 01:24 PM

Yes i think I have a local coin shop..what do I do just go in and look at silver coins

Thanks so much I just read crashing the dollar and I really dont have much money but want to start getting some silver each week for awhile

Ask to see their silver bullion coins and bars. You will pay a premium of a few dollars above the spot price for each ounce. When you make a purchase, they will likely check the spot price then add the premium to it.

Silver eagles and some other bullion coins will carry a slightly higher premium.

Melissa

11-16-2010, 01:38 PM

You guys are awesome can you tell me a ball park price for 1 coin so I will know the shop I pick is not taking me for a ride cause I look like I have never bought before lol

Bruno

11-16-2010, 01:45 PM

You guys are awesome can you tell me a ball park price for 1 coin so I will know the shop I pick is not taking me for a ride cause I look like I have never bought before lol

No worries. Check http://www.kitco.com/market/ before you go, to see the spot price for silver. A bullion coin will be sold at, for example, $25.40 + $3.00 premium = $28.40/ounce.

That would be the approx. price to pay for most bullion bars or coins. They should look up the spot price at the time of your purchase, or maybe have posted the last time of day it was updated. Some, such as silver eagles, carry a higher premium.

The spot price is what you would get back if/when you choose to sell.

Melissa

11-16-2010, 02:00 PM

awesome!!! will be going on pay day so now I will look up shops in my area to check out a few.

Bern

11-16-2010, 02:00 PM

My local coin shop has different premiums depending upon whether you want 90% (junk) silver, 1oz rounds, ingots/bars or Silver Eagles. The premiums for buying vs. selling is the "spread". 90% silver had the lowest spread and thus, best value at my local shop. YMMV.

Carson

11-16-2010, 10:45 PM

Here is a link to a silver an gold payment calculator. Some of you may find it interesting or useful.

http://www.silverandgoldaremoney.com/

enjerth

11-17-2010, 04:38 PM

I just helped crash JP Morgan 52 times today. At $1.50 over spot, I'm quite pleased. :) Although maybe the dealer has been giving me a better deal because I come in 2-3 times a year and lay down a grand.

ctiger2

11-17-2010, 07:45 PM

YouTube - Max Keiser: Crash JP Morgan - Buy Silver! (http://www.youtube.com/watch?v=QCM7rMIqxmk)

Mike4Freedom

11-17-2010, 08:58 PM

One of my buddies is invested in SLV I am trying to find a way for him to demand delivery. I dont think you can if you are in an etf though.

Jeez

11-17-2010, 09:28 PM

Not a big fan of Silver simply because of the size/price ratio. Unless you have nice large vault. As for Silver Eagle people buy online you want to make sure they are legit they are lot of fake American eagle coins from China flooding the market.

ctiger2

11-17-2010, 09:57 PM

jake

11-17-2010, 10:17 PM

i own 1100 ounces, sadly i have to sell 600 because i cant afford to pay my credit cards off. so sad :(

nbruno322

11-18-2010, 03:17 AM

http://www.marketoracle.co.uk/images/2010/Nov/jp-morgan-silver.jpg

enjerth

11-18-2010, 11:09 AM

i own 1100 ounces, sadly i have to sell 600 because i cant afford to pay my credit cards off. so sad :(

Don't sell the silver! That's going to hurt you a LOT more than a hit to your credit score.

inibo

11-18-2010, 08:49 PM

I've bitten the silver bullet, so to speak. I bought 20 oz on the 8th and was planning on buying twenty more in the next couple of day since it's been going down. I figured a few more days and then...

I just ran across the "Crash JP Morgan, Buy Silver" campaign today after seeing the London Fix go up 1.37 on the day (spot's up 1.71). So I jumped the gun and bought 20 more this afternoon. :)

I've got a man crush on the guy with the two kilos.

Zippyjuan

11-18-2010, 09:18 PM

Don't sell the silver! That's going to hurt you a LOT more than a hit to your credit score.

What is going to hurt is all that interest and penalties if the debt isn't paid. He won't make a higher return by keeping his silver so selling for him does make better sense.

osan

11-19-2010, 07:18 PM

Generally I'd agree. But with the manipulation of PM's on the down side for such a long time I'm inclined to think long term, silver is going higher. Their stranglehold is coming to an end- and they may not know it yet (but they sure as hell are starting too). As a result the basket ball being held under water (silver) is starting to have too much pressure pushing up to stay down long term, no matter what the big banks do.

If this is true, why would JPM be taking a large short position? It doesn't make sense, unless the goal is actually to lose all that $$, which is not out of the question. I just can't immediately figure what would so motivate them.

osan

11-19-2010, 07:23 PM

No worries. Check http://www.kitco.com/market/ (http://www.kitco.com/market/) before you go, to see the spot price for silver. A bullion coin will be sold at, for example, $25.40 + $3.00 premium = $28.40/ounce.

That would be the approx. price to pay for most bullion bars or coins. They should look up the spot price at the time of your purchase, or maybe have posted the last time of day it was updated. Some, such as silver eagles, carry a higher premium.

The spot price is what you would get back if/when you choose to sell.

And I used to bitch about paying over $4.50/ozt for stock metal for jewelry and other silver smithing projects.

Bruno

11-19-2010, 07:37 PM

And I used to bitch about paying over $4.50/ozt for stock metal for jewelry and other silver smithing projects.

My how the times have changed! (for better or worse, depending upon what you are holding)

Bern

11-20-2010, 08:02 AM

If this is true, why would JPM be taking a large short position? It doesn't make sense, unless the goal is actually to lose all that $$, which is not out of the question. I just can't immediately figure what would so motivate them.

http://www.ronpaulforums.com/showpost.php?p=2621290&postcount=4

wgadget

11-20-2010, 08:31 AM

Can I just buy 50 ounces? :D

ctiger2

11-20-2010, 02:47 PM

YouTube - Bob Champan: Crash JP Morgan Buy Silver "I think it's a Great Idea!" (http://www.youtube.com/watch?v=zY8E21W3IXo)

acptulsa

11-20-2010, 02:50 PM

If you are going to spread this calling to folks who aren't tuned in to the issue, you had better do a really good job explaining why anyone would want to destroy one of the largest banks in the country and what the implications of that will be. I can see a lot of people looking at you at thinking, "This guy is mad. He wants to destroy our country."

Better to destroy them one at a time than to leave them all in the position of being mutually vulnerable and capable of simultaneous destruction. Much safer.

Also, bailing out all the big banks is much easier to justify politically than bailing out just one. So, the bail out becomes less likely to happen.

inibo

11-21-2010, 02:03 PM

I think I have gone insane. I am not a wealthy man. Other than the electronic FRNs in my checking account--about a month or two buffer between me and homelessness--all I have is my paid for used car and my personal household junk. As of today I've turned half my FRNs into physical silver. It puts me at 100 oz. If it goes up a dollar I go up a hundred. If the fifty, sixty-five, or even higher people are talking about comes I will be happy. On the other hand...

PeacePlan

11-21-2010, 03:07 PM

Looks like this idea is going viral as I now see youtubes in other languages to Crash JP Morgan...

YouTube - Crash JP Morgan buy Silver (toot) (http://www.youtube.com/watch?v=-fRszg9GxtA)

YouTube - FAQs zu "Max Keiser: Crash JP Morgan und kauf eine Unze Silber" (http://www.youtube.com/watch?v=HAh6bRBgh4k)

YouTube - CRASH JP MORGAN AND BUY SILVER AND ALOE VERA (http://www.youtube.com/watch?v=bJx8bjeJI5I)

anarchy

11-21-2010, 03:21 PM

I bought 20 fucking kilos

PeacePlan

11-21-2010, 08:13 PM

I bought 20 fucking kilos

Good for you...... look at Kitco Asian trading HERE (http://www.kitco.com/market/)

Silver is up almost 1.5% so far tonight. Expiration is on Tuesday so they have 2 days to knock that price down. It could explode higher from here if any big players smell JP Morgans blood in the water? I expect that if this price holds you are going to get a lot of those options asking for delivery. Industry holds a good portion of them and COMEX only has 50 million oz on hand that dealers hold and can be delivered. There is over 700 million oz of option calls that could ask for the metal.

I have been watching this for over 10 years and this is the first time I can say that I think they are going to hand JP Morgan its ass and head Tuseday. I rate the chance at more than 50% and I have never ever in 10 years before options thought JP would get screwed.. Can't wait for Tuesday!

youngbuck

11-21-2010, 09:46 PM

I bought 20 fucking kilos

Hahahah:D

Mike4Freedom

11-22-2010, 08:01 AM

I have an idea that can get really crash jp morgan hard.

jp morgan and chase are the same company now.

Everyone apply for a Chase credit card. If you have good credit you can get a 10K max and buy silver using there money.

You can choose to default and it can damage your credit but this will destroy this bank and you are using a lot of leverage.

The original plan is the silver bullet to JP morgan, this will be the Silver Nuke.

Cowlesy

11-22-2010, 08:20 AM

http://i410.photobucket.com/albums/pp188/ChosenWarrior24/picard-facepalm.jpg

Mike4Freedom

11-22-2010, 08:26 AM

If a million people did what I just said, the price of silver would sky rocket and all the naked shorts would be SOL which would cause the price of silver to further skyrocket.

YumYum

11-22-2010, 08:29 AM

Currently, where is the safest place to purchase physical silver?

Mike4Freedom

11-22-2010, 08:30 AM

www.apmex.com

inibo

11-22-2010, 08:43 AM

www.apmex.com

I don't know if it is a good thing or a bad thing, but my checks to Ampex are deposited in a JP Morgan account.

Also, as of yesterday, they were running out of stock pretty quickly.

Cowlesy

11-22-2010, 08:45 AM

If a million people did what I just said, the price of silver would sky rocket and all the naked shorts would be SOL which would cause the price of silver to further skyrocket.

No.

Bern

11-22-2010, 09:12 AM

Currently, where is the safest place to purchase physical silver?

Your local coin shop. If you are looking to buy large quantities, you will need to go mail order from apmex, tulving, blanchard, monex, etc.

brandon

11-22-2010, 09:30 AM

If a million people did what I just said, the price of silver would sky rocket and all the naked shorts would be SOL which would cause the price of silver to further skyrocket.

I googled "this is the stupidest thing I have ever heard (http://www.google.com/search?q=this+is+the+stupidest+thing+i+have+ever+h eard&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a)" hoping to find a witty picture to post in response, and the 3rd google result is about Ron Paul. Small world. (The site does have a very fair and legit critique of one of Paul's stupider ideas)

Mike4Freedom

11-22-2010, 09:48 AM

No.

Instead of just saying No, explain why that would not effect the price of silver.

ctiger2

11-22-2010, 10:03 AM

I googled "this is the stupidest thing I have ever heard (http://www.google.com/search?q=this+is+the+stupidest+thing+i+have+ever+h eard&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a)" hoping to find a witty picture to post in response, and the 3rd google result is about Ron Paul. Small world. (The site does have a very fair and legit critique of one of Paul's stupider ideas)

Ron has always stated that giving someone a tax break is like letting them keep more of their money. The guys argument is that the Govt owns all your money and it costs them money to give it back to you. Ron is always for tax breaks/credits etc.

jake

11-22-2010, 10:22 AM

I don't know if it is a good thing or a bad thing, but my checks to Ampex are deposited in a JP Morgan account.

Also, as of yesterday, they were running out of stock pretty quickly.

I noticed that too!

jake

11-22-2010, 10:24 AM

Don't sell the silver! That's going to hurt you a LOT more than a hit to your credit score.

credit score be damned, hello interest payments?? id be paying around 2k per month in interest if I didnt sell the silver to pay the cards off :)

I plan on slowly rebuilding my stock over the next year

Bern

11-22-2010, 12:10 PM

Chase (JPM) is offering a credit card with 0% APR on purchases for six months and $100 cash back if you spend $800:

http://www.chasefreedomnow.com/100/?CELL=6RRW&MSC=IQ17412034

If you think silver is going to be higher in 6 months, Chase (JPM) is essentially offering you free money.

Jordan

11-22-2010, 12:42 PM

credit score be damned, hello interest payments?? id be paying around 2k per month in interest if I didnt sell the silver to pay the cards off :)

I plan on slowly rebuilding my stock over the next year

Assuming you sold 600 ounces at $25, that's $15,000. If you're paying $2k a month in interest on that much debt then you're doing something wrong. That's 13% a month. :-/ People pay less than that on loans secured by car titles.

I think you meant $2k a year.

Jordan

11-22-2010, 12:43 PM

No.

http://i.imgur.com/GnqLM.jpg

Mike4Freedom

11-22-2010, 06:10 PM

Dr.3D

11-22-2010, 06:20 PM

I googled "this is the stupidest thing I have ever heard (http://www.google.com/search?q=this+is+the+stupidest+thing+i+have+ever+h eard&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a)" hoping to find a witty picture to post in response, and the 3rd google result is about Ron Paul. Small world. (The site does have a very fair and legit critique of one of Paul's stupider ideas)

Was that from phoenixrealestateguy?

I guess a tax refund should only apply to someone who actually paid taxes.

YumYum

11-23-2010, 09:40 AM

While gold is shooting straight up, silver seems to be meeting some resistance. You would think that when gold goes bonkers, silver would bust a nut, since the fundamentals show that silver is supposed to go to $400 an ounce. But, that is not the case. How come?

Also, gold is going up at the same time the dollar index is going up. This is unprecedented.

puppetmaster

11-23-2010, 09:45 AM

I bet they may consider anyone who is buying metals for this purpose would be a terrorist and therefore subject to assassination by our own government......would not surprise me....not much does anymore.

see you evil people are messing with obamas friends now!

Bern

11-23-2010, 09:46 AM

Yum Yum - I believe that the mess in Ireland is causing a capital flight to gold in Europe right now as the fate of the Euro remains in uncertain.

ctiger2

11-23-2010, 09:55 AM

YumYum

11-23-2010, 10:02 AM

Yum Yum - I believe that the mess in Ireland is causing a capital flight to gold in Europe right now as the fate of the Euro remains in uncertain.

Gold shot straight up when the New York COMEX opened. Wouldn't it have shot straight up yesterday in Europe's market? I can see the logic of gold going up because of Ireland's problems, but my concern is the manipulators in New York. Also, Erin on Squawk On The Street just said gold is going up because the little guys are making small purchases; not because of the big boys. If that's the case, gold is now poised to go to the moon.

Bern

11-25-2010, 04:29 AM

Interesting interview with Ted Butler on silver, JPM, Comex/CME, CFTC, etc.:

http://news.silverseek.com/SilverSeek/1290625106.php

Bern

11-26-2010, 10:47 AM

China giving folks a Black Friday special in PMs this morning:
Just because the CME's hikes in all sorts of commodity margins were perfectly innocent and only had to do with "risk management" functions, we read with little surprise that China's Dalian Commodity and Shanghai Futures Exchanges are now also in the indirect price suppression, pardon, risk management business. Earlier reports confirm that both exchanges will hike margins on virtually every single commodity traded in China. This is likely the last stop gap measure before the central bank is forced to implement a rate hike and cool already near record inflation. As the CME's failed attempts to kill silver and gold price appreciation using margin pressure have so far done very little, we expect that the short-term impact of this move will wear off within a weak, at which point prices will resume their upward climb with a vengeance.
...

http://www.zerohedge.com/article/chinese-exchanges-hike-margins-virtually-all-commodities-temporary-attempt-cool-surging-pric

Bern

11-27-2010, 08:24 AM

Local coin shop was closed yesterday. I'm hoping they are open today. Looks like silver won't start trading again until Monday, so there is still time to take advantage of the "China discount".

Inflation

11-28-2010, 12:11 PM

Ok I want to buy silver where do I go lol? This will be my first time so it wont be much but sure will try getting some

JP Mprgan is short around 200 milion oz of silver by writing options on COMEX.

APMEX hedges using COMEX options most likely written by JP........ If we all went and bought out all the stock from APMEX they would want more silver so they would want delivery on those contracts. Do not expect this to much to JP or COMEX IMO

THEREFORE We can most effectively squeeze MORGANCOMEX by purchasing APMEX-brand silver products, so that APMEX will be forced to take more delivery of COMEX silver.

Buying old Liberty dimes or whatever won't drain COMEX silver via APMEX.

I've sold all my AGQ at a nice profit and will use the money to buy APMEX bars on Dec 11. That's Silver Bomb Day, right?

Concentrate fire!

Purchase silver goods that APMEX buys from COMEX, not ones they buy from other sources. :cool: :p :cool:

Melissa

11-28-2010, 12:28 PM

China giving folks a Black Friday special in PMs this morning:

http://www.zerohedge.com/article/chinese-exchanges-hike-margins-virtually-all-commodities-temporary-attempt-cool-surging-pric

I know I am always saying this lol but what is PM?

Dr.3D

11-28-2010, 12:50 PM

I know I am always saying this lol but what is PM?
Precious Metals. :)

Dr.3D

11-28-2010, 12:52 PM

Local coin shop was closed yesterday. I'm hoping they are open today. Looks like silver won't start trading again until Monday, so there is still time to take advantage of the "China discount".

Well, the global market opens at 18:00 (06:00PM) New York time Sunday evening. :)
Maybe there won't be much happening between then and when the market opens in New York, but who knows?

Melissa

11-28-2010, 12:55 PM

Precious Metals.

Thanks

Well, the global market opens at 18:00 (06:00PM) New York time Sunday evening. :)
Maybe there won't be much happening between then and when the market opens in New York, but who knows?

and this is what they refer to as futures correct?

Dr.3D

11-28-2010, 01:03 PM

Thanks

and this is what they refer to as futures correct?

Well, it affects the spot price of the metals, whether paper or physical, I can't really determine.

You can follow what is happening by going to this site at 6:00 PM EST tonight and watch what happens through the night.
http://www.kitco.com/market/

I believe what you see for the spot prices are really just the paper prices, however those do affect the physical price to some extent. If you want to know the physical prices, check the APMEX site.
http://www.apmex.com/

cubical

11-28-2010, 01:03 PM

Bern

11-28-2010, 07:08 PM

Well, the global market opens at 18:00 (06:00PM) New York time Sunday evening. :) ...

Oh man, silver already down a bit in early trading. I so wish my local coin shop were open right now. Hope the discount holds up through the morning until the shop opens.

Dr.3D

11-28-2010, 07:56 PM

Oh man, silver already down a bit in early trading. I so wish my local coin shop were open right now. Hope the discount holds up through the morning until the shop opens.

Well, I find it pretty interesting to see what happens when the London market opens. I'm pretty sure they are in cahoots with JP Morgan et al and that they often try to drive down the price of silver before the New York market opens or while both the London and New York markets are open.

inibo

11-29-2010, 12:26 AM

I hope they do continue to push the price down. I've got some cashed in vacation time coming in the next week or so. I want to turn it into silver. I'm not too concerned about the short run. Everything I've read and everything I understand about economics is telling me silver is either going to go up fast, or it's going to go up slow and steady, but it is going to be going up for the next few years at least.

inibo

11-29-2010, 12:42 AM

Bern

12-02-2010, 10:15 AM

As Zero Hedge readers know, the reason why the US mint sold a record amount of silver American Eagle coins in November is unlikely a coincidence, and very possibly an indication that the recently disclosed plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP Morgan is working: to wit, if every person buys an ounce of silver, JP Morgan and its massive synthetic silver short position, will have no choice by the cover, face unprecedented margin calls, and possible lead to an end for the New York Fed's favorite bank. Today, Keiser goes mainstream, detailing his thoughts in The Guardian (http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash), which courtesy of its massive circulation is sure to reach far more readers to whom this idea is new. To keep a track of how well this plan is working, we suggest readers check in with the US mint, which frequently updates the amount of silver American Eagles sold on its website (link (http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sales&year=2010)). ...

http://www.zerohedge.com/article/max-keisers-plan-destroy-jp-morgan-goes-mainstream-after-guardian-posts-his-silver-squeeze-t