$10B In Paper Silver Hit COMEX with a THUD!
BrotherJohnF has posted an excellent video that shows just how removed from reality the COMEX silver market is. He shows that in just one minute 50,000 contracts were traded on the COMEX silver market. That calculates out to 250M ounces of paper silver or $10B worth of physical silver. IN ONE MINUTE! You can see his video here:
Silver Update 71811 Caught in the act
Wow! That's a lot of silver. Brother John claims that these contracts were "dumped" on the market but I think that is highly doubtful. Who took the other end of those trades? Surely someone was not laying in wait for $10B worth of paper silver in that very minute.
What seems more likely is that this was a computer driven price manipulation carried out by members of the banking cabal (JPM? EWT? UBS?) trading back and forth to each other in order to SET the price at a lower level before things got really ugly with the debt ceiling debate. Computers trading back and forth to each other at such high volumes as to destroy true price discovery.
Sick, isn't it?
The good news is that it exposes, once again, that the silver manipulation is alive and well and there will be no FREE MARKETS in silver until the computers are turned off...for good!
Silver has already jumped back above $40 because they can't keep up this scam forever.
And investors are starting to WAKE UP!
May the Road you choose be the Right Road.
Bix Weir
