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(Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering"
    #10352527 -

I think silver might be the best metal for y'all out there that are short on funds.


Silver Stock Report: "The scope of fraud in the silver market alone is staggering"

by Jason Hommel

Global Research, April 18, 2009
news.silverseek.com/

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Let's review the fundamentals of gold and silver.

The world gold mines produces 2500 tonnes per year, which is about 80 million ounces.  With gold at $867, that's $69 billion worth of gold mined each year.  That's a tiny market in the scale of world finance, where the USA has $14,000 billion in the US banking system at risk, and has added $11,000 billion of commitments in bail outs, and continues to issue $800 billion bail outs with increasing regularity, with a total budget exceeding $3000 billion, and a budget deficit approaching $1500 billion.

http://en.wikipedia.org/wiki/United_States_federal_budget

The silver market is a lot smaller.  Way smaller than the $69 billion in gold produced.  World silver mines produce about 600 million ounces, at $11.88/oz. is $7.1 billion.  Unlike with gold, where 95% of demand is for investment purposes, most silver has industrial applications, and there is little relative investment demand.  Investment demand in silver is about 10-25% of the market, perhaps headed towards about 150 million ounces per year now, rapidly increasing in 2008, and in 2009 now.  150 million oz of silver, at $11.88 = $1.7 billion market.

Gold Eagle production is 710,000 oz., while Silver Eagle production was about 20 million ounces for 2008.  The silver Eagle market is thus only a $237 million market, extremely tiny in the scale of world finance.

Large banks burp up errors in size that are orders of magnitude more than that, regularly.  Large banks have "losses" up to ten to twenty times the size of the silver Eagle market, every quarter.  The size of fraud in financial markets remains unimaginable, and will be incomprehensible to historians of the future.

The scope of fraud in the silver market alone is staggering; frauds such as:

Mints who claim they both have a capacity of 50,000 oz./day, yet are backordered from 3-6 months.  Any such mint should be making as many rounds as the U.S. Mint makes (50,000 x 365 = 18 million).  Nobody is doing that in our market, trust me.  Thus, their "backorder" is indicative of floating on customer money.

Another fraud that I suspect in the silver market is the Silver ETF.  I just don't trust that they have the silver; they obtained too much too soon, and their silver custodian is the least trustworthy bank in the system, JP Morgan, who has also been identified as the largest holder of silver short positions on the COMEX, who also has a large short position in the over the counter markets.

JP Morgan is also an LBMA member with the largest derivatives up to $80 trillion!

The BIS, the Bank of International Settlements admits that "non gold precious metals derivatives" are $190 billion, and these are mostly held by JP Morgan, the 800 pound gorilla in the derivatives market.  Presumably, that would include silver, platinum and palladium.

The platinum and palladium world gold production figures are each about 8 million ounces.  Platinum, at $1206/oz., is a $9.6 billion annual market.  Palladium, at $231/oz. is a $1.8 billion market.  Therefore, the $190 billion in over the counter "other precious metals" derivatives must be mostly silver, or mostly fraud, since silver is only a $7 billion market!

Basically, I believe 90% of the silver fraud is being perpetrated by JP Morgan, and maybe up to 50% of world financial fraud is being perpetrated by them, too.

The best way to avoid the fraud, and best take advantage of it, is to buy real physical silver.

Real silver is very rare, highly desired, and is destined to have its true scarcity and value revealed as frauds collapse suddenly.

Global Research Articles by Jason Hommel

http://globalresearch.ca/index.php?context=va&aid=13240


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

Edited by Mr.Al (05/29/09 09:04 PM)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12396467 -

This story has been confirmed by inside precious metal traders turned whistleblowers. The size of the fraud is estimated to be $5.5 trillion, and for every ounce of physical gold or silver, there is a 100 (IOUs) in the form of EFTs. In actuality, there is a gold/silver shortage, this is the biggest fraud in the known history of mankind.

http://www.marketoracle.co.uk/Article18386.html

this is the radio interview with the whistleblower.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass_files/Andrew%20Maguire%203:30:2010.mp3

*BUMP*

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: sonar]
    #12396800 -

sonar said:
This story has been confirmed by inside precious metal traders turned whistleblowers. The size of the fraud is estimated to be $5.5 trillion, and for every ounce of physical gold or silver, there is a 100 (IOUs) in the form of EFTs. In actuality, there is a gold/silver shortage, this is the biggest fraud in the known history of mankind.

http://www.marketoracle.co.uk/Article18386.html

this is the radio interview with the whistleblower.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass_files/Andrew%20Maguire%203:30:2010.mp3

*BUMP*




Hey, thank you.


Many people do not find precious metal commodities to be very interesting.

It is strange to me that people attempt to argue for money that loses purchasing power.

Perhaps a paradigm economic shift is right around the corner.


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12397007 -

I'm in no economic position to be trading but had I been 10 years older I would have acted and bought physical commodities. Though perhaps thats me looking back retrospectively when the internet wasn't as viral, sucks to be twenty something.

At the moment there is a complete media blackout over these events by the news corps. But there definately is something which suggests that there is going to be a hyperinflation scenario.

I would like an economic paradigm shift, but it's looking to get alot worse. I'm just preying that those with IOU's cash them in and bring JP Morgan and Goldman accountable. Of course, the layman with antiques would be protected, lets hope those not so lucky don't get too burnt.

*fingers crossed*

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12397193 -

I have little to say with respect to fraud in the metals market.  I try to make my decisions based on the reality presented in this moment of time.  The document you have posted is - at this time - only speculation.

For my part, I hold precious metals not as an investment but as a tool for portfolio diversification.  As these metals are priced in dollars, with the US continuing to throw "free" cash at the economy and keeping interest rates incredibly low, there is little doubt that inflation will rear its ugly head sooner or later (there really is no good way to tell when this may occur).  For this fundamental reason, I am happy to hold a position in metals.  This isn't something I trade, and not something I would EVER recommend to "ya'll out there that are short on funds".  But if you have enough money and want to diversify, you should definitely own some metals.


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┼ ··∙   long live the shroomery  ∙·· ┼
...╬π╥ ╥π╬...

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: geokills]
    #12397272 -

Quote:
Many people do not find precious metal commodities to be very interesting.

It is strange to me that people attempt to argue for money that loses purchasing power.


Nobody argues to horde cash.

(BTW, I just got a bunch of pot leaf .999 rounds for under spot.  :vaped:)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: DieCommie]
    #12402465 -

DieCommie said:
Quote:
Many people do not find precious metal commodities to be very interesting.

It is strange to me that people attempt to argue for money that loses purchasing power.


Nobody argues to horde cash.

(BTW, I just got a bunch of pot leaf .999 rounds for under spot.  :vaped:)




Any asset that is denominated in funny money I would not consider safe...


Something to think about, right?!?


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: geokills]
    #12402487 -

geokills said:
I have little to say with respect to fraud in the metals market.  I try to make my decisions based on the reality presented in this moment of time.  The document you have posted is - at this time - only speculation.

For my part, I hold precious metals not as an investment but as a tool for portfolio diversification.  As these metals are priced in dollars, with the US continuing to throw "free" cash at the economy and keeping interest rates incredibly low, there is little doubt that inflation will rear its ugly head sooner or later (there really is no good way to tell when this may occur).  For this fundamental reason, I am happy to hold a position in metals.  This isn't something I trade, and not something I would EVER recommend to "ya'll out there that are short on funds".  But if you have enough money and want to diversify, you should definitely own some metals.



My personal opinion is that silver is "dollar for dollar" undervalued more than gold.  If supplies of physical silver are far lower than what people have been led to believe we could see a sustained run on silver.

Obviously, there are too many factors (known, unknown, and unknown unknown) involved to figure out what could precipitate said run.


I think that if "the masses" wanted to get out of dollars fast they would jump into:




Hey, I may be wrong but I may be right...





I have read about many different communities printing up local currencies. 

If said communities (or perhaps entire states bought up P.M.s like silver they could insulate themselves from massive inflation.



I know that there are a lot of "ifs" here.

It is somewhat difficult to ascertain how the monetary situation will unfold...


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

Edited by Mr.Al (04/16/10 10:09 AM)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12403182 -

Mr.Al said:
Any asset that is denominated in funny money I would not consider safe...



Like what?

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: DieCommie]
    #12403197 -

DieCommie said:
Mr.Al said:
Any asset that is denominated in funny money I would not consider safe...



Like what?



Not Safe:


GLD

U.S. Treasuries. (All debt instruments, really.)

All paper assets that assign ownership to that which is "safely stored" in a far away place.

Anything that you do not physically possess in a safe location...

I am actually concerned about the possibility of hyperinflation.

Safe stuff:

CAPITAL GOODS!  That which produces valuable & useful goods in a safe place.  Anything that helps you make/secure marketable goods and services.


Think useful production in a localized economy.


If you are skilled as a mechanic, roofer, electrician, or plumber have all the tools you need to function off the grid in a remote location.


The ability to get around is important.  Off grid fuel and energy production.

Food production.

Et cetera.

Being self sufficient and producing several marketable necessary goods and services is the best position.

Network with people who are like minded and non sketchy (in terms of respecting other people's property rights  and maintaining a low profile).


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

Edited by Mr.Al (04/16/10 01:34 PM)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12404520 -

GLD? What's wrong with gld, as far as not being safe?

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Hotnuts]
    #12404531 -

"If you are skilled as a mechanic, roofer, electrician, or plumber have all the tools you need to function off the grid in a remote location."

What???

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Hotnuts]
    #12407881 -

Hotnuts said:
GLD? What's wrong with gld, as far as not being safe?



http://www.marketoracle.co.uk/Article9030.html


If you want to invest in precious metals, why not own the real thing?


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

Edited by Mr.Al (04/17/10 10:05 AM)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Hotnuts]
    #12407889 -

Hotnuts said:
"If you are skilled as a mechanic, roofer, electrician, or plumber have all the tools you need to function off the grid in a remote location."

What???



I am concerned about a dollar crisis.

I wouldn't trust anything paper after that.

The dollar is the world reserve fiat currency if it experienced a sudden drop (like a stone) in buying power I would expect many investments to not be "safe".


If we were to face a hyperinflationary situation it would be healthy to be as productive as possible.  Having useful things to offer for sale in your community would be the most virtuous act. 

Mediums of exchange that can not readily be counterfeited, like metal, would also prove vital to localized economies.


Capital goods are that which is necessary for production of valuable goods and services.



After a dollar crisis you should expect a large influx of capital goods into economies that had already set aside large quantities of commodity based mediums of exchange.  Soon real production and employment would grow in those places.

This means that those specific communities would soon thereafter become the new centers of economic production following said dollar crisis.



Capitalism works great when it is based on the accumulation of real capital (actual savings gained from an increase in productive activity, not fiduciary media which is credit based funny money).

They function completely different, really.


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

Edited by Mr.Al (04/17/10 10:04 AM)

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12415639 -

I bought my gold at ~ 460 and now it's over 1100. The trouble with the silver argument is that silver gets recycled all the time. That's what brought down the hunt brothers when they tried to corner the market. People brought in their old silverware and the market crashed. Silver will go up but so will gold. Stay with tangibles.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Stonehenge]
    #12418731 -

Stonehenge said:
I bought my gold at ~ 460 and now it's over 1100. The trouble with the silver argument is that silver gets recycled all the time. That's what brought down the hunt brothers when they tried to corner the market. People brought in their old silverware and the market crashed. Silver will go up but so will gold. Stay with tangibles.


Hold onto that gold until it's crunch time.

Does anyone how to obtain REAL precious metals in London?

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Stonehenge]
    #12418838 -

Stonehenge said:
I bought my gold at ~ 460 and now it's over 1100. The trouble with the silver argument is that silver gets recycled all the time. That's what brought down the hunt brothers when they tried to corner the market. People brought in their old silverware and the market crashed. Silver will go up but so will gold. Stay with tangibles.





I am interested in your view regarding what could happen with the price of precious metals and other commodities if the 'fed actually raised interest rates around par with the early eighties...


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12426459 -

Al, what the fed does is becoming less and less important as events move out of their control. The dollar has lost 98% of it's value since the fed took over. I look for it to lose much of what remains which means massive inflation. Think of the wiemar republic in germany and you won't be far off. The people who lost their money in the stock market will lose the rest of it in cd's. Gold silver and other hard goods will maintain value.

This benefits our spendthrift govt since the crushing debt load we have will be paid back with worthless dollars. A gallon of gas may cost over $100. An oz of gold may be worth 50k. Mine is in safe deposit so no funny business with eft's. Real estate will go up and so will labor which is the one lifeline for poor people. Losers will be those who held onto cash and retirees trying to live on ss or anyone with a fixed income.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Stonehenge]
    #12430629 -

Stonehenge said:
Al, what the fed does is becoming less and less important as events move out of their control. The dollar has lost 98% of it's value since the fed took over. I look for it to lose much of what remains which means massive inflation. Think of the wiemar republic in germany and you won't be far off. The people who lost their money in the stock market will lose the rest of it in cd's. Gold silver and other hard goods will maintain value.

This benefits our spendthrift govt since the crushing debt load we have will be paid back with worthless dollars. A gallon of gas may cost over $100. An oz of gold may be worth 50k. Mine is in safe deposit so no funny business with eft's. Real estate will go up and so will labor which is the one lifeline for poor people. Losers will be those who held onto cash and retirees trying to live on ss or anyone with a fixed income.




I am thinking short term.  If they jacked up interest rates it might "save" the dollar for a few more years.

It is difficult to determine exactly what event(s) will precipitate prices rising out of control.

What event(s) do you think will set of the chain reaction that causes hyperinflation?

Some folk who experienced hyperinflation in the Weimar Republic are said to have reported that there was no warning...


--------------------
Ludwig von Mises Institute,Campaign for Liberty.,The Oath Keeper's

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Re: (Full Article)Silver Stock Report: "The scope of fraud in the silver market alone is staggering" [Re: Mr.Al]
    #12431481 -

Quote:
    Quote:
    Stonehenge said:
    Al, what the fed does is becoming less and less important as events move out of their control. The dollar has lost 98% of it's value since the fed took over. I look for it to lose much of what remains which means massive inflation. Think of the wiemar republic in germany and you won't be far off. The people who lost their money in the stock market will lose the rest of it in cd's. Gold silver and other hard goods will maintain value.

    This benefits our spendthrift govt since the crushing debt load we have will be paid back with worthless dollars. A gallon of gas may cost over $100. An oz of gold may be worth 50k. Mine is in safe deposit so no funny business with eft's. Real estate will go up and so will labor which is the one lifeline for poor people. Losers will be those who held onto cash and retirees trying to live on ss or anyone with a fixed income.





I am thinking short term.  If they jacked up interest rates it might "save" the dollar for a few more years.

It is difficult to determine exactly what event(s) will precipitate prices rising out of control.

What event(s) do you think will set of the chain reaction that causes hyperinflation?

Some folk who experienced hyperinflation in the Weimar Republic are said to have reported that there was no warning...


The dollar will probably not fall precipitously in the next few years. However it may and i would not rule out another financial crisis in near term. What we have here is a rotted structure held together with glue and chewing gum. The current admin is debating what brand of gum to shore up the system with, and at the same time, they are trying to build a superstructure on top of the rotted lower floor. This being the health care takeover at a time of financial crisis. This can only make sense if they have already decided on the inflation route and care not if the stock market goes under or our credit rating drops.

Anything could set it off. When an avalanche happens, is it because someone sneezed or shot a gun or threw a snowball? It was because of the underlying conditions and the trigger could be anything. Same with our present situation. Part of the glue holding the structure up is that the average person has no idea how precarious our finances are. The great depression was set off by less rot than we have today. In that case cash became king but that can't happen today. Back then cash was backed up by gold or silver. Today it's backed up by obama's promises and you know how much they are worth.

Since cash must inevitably lose most of it's present value, hard goods are the only thing that can retain value. That and services. We will always need doctors, plumbers and other working people. Assuming the financial crisis allows them to work. During the 30's people were thrown out of work because there was no demand for goods since everyone was out of work. Cash in the future will be gold, silver, copper, platinum and other valuable things. Land will keep its value because we must grow crops and have a place to live.

Prices will rise when the borrowed trillions hit the streets. Most of that money has not actually been spent. Some has been given to banks to lend out and they are sitting on it. Some has been set aside for other projects like health care. It will be spent over the next few years and inevitably when more cash chases the same amount of goods and services, only one thing can happen. As the price of the pie in the sky projects goes way over budget, more borrowing must ensue. This drives up interest rates and the additional cash fuels more inflation. Its a snowball effect and the avalanche must happen. It won't be pretty. Be short on cash except enough to stay liquid and be long on hard goods. Debt is a good thing to take on now if you are sure you can make the payments for at  least 3 to 5 years. After that, you can pay it off at a few cents on the dollar.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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