COMEX silver raid following 2.4 million ounce warehouse withdrawal
http://www.silverdoctors.com/2-4-mil...-comex-stocks/
By SD Contributor SRSrocco:
BIG SILVER TAKE DOWN THE DAY AFTER 2.4 M OZ TAKE DOWN OF COMEX SILVER STOCKS
How interesting that silver was treated to a $1 waterfall takedown today, the DAY AFTER 2.4 million physical ounces of silver were withdrawn from COMEX vaults!
Is this like that raid that happened to that Van Notthaus guy?
Who withdrew the silver? Wasn't there a recent story about the German Central bank taking their bullion out of US storage and moving it back to Germany?
Edit: story was about Gold bullion.
http://www.resourceinvestor.com/2012...recious-metals
Last edited by Brian4Liberty; 11-28-2012 at 11:22 PM.
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bump
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa
Twitter: B4Liberty@USAB4L
Is there another source for this?
Also this is why you shouldn't own stocks in PMs, you shouldn't own certificates, you shouldn't have people store it for you, you should only posess the bullion yourself. One exception is to hold it offshore, but to ensure that it's held in a bag with your name on it so they can't lend it out (no fractional reserve banking).
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I don't understand, and reading the entire message board, I still did not get it. What is the link between 2.4M physical being taken out of the vaults, and the attempt to drive down prices?
Are they saying JPM is trying to tank the price, so people will demand less physical?
Did you read the link to TFMetals blog? This explains it better than most of us could.Originally Posted by UWDude
http://www.tfmetalsreport.com/blog/4336/shakeout?page=1
In short, it's about controlling futures contract prices and support levels. Ive noticed there's been considerable pressure to keep silver below $35/oz.
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Above $36 for 90 days is purportedly the condition that would sink JPM.
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well think of it this way... if silver is driving up in price people will flock to buy more... if its going down in price then people can get scared that they will lose their money and will sell to retain any profits.. they do this stuff in the stock market everyday
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