Intentional Silver Crash....................from Rico

Remember this past Tuesday, July 7th?

- Overnight trading at one level, and the moment the COMEX opened a Silver 'crash' out of the clear blue?

 

Apart from the usual obvious phoniness of the markets in a regime where they are 'made' and 'broken' at will by the wise guys with the 'blessings' of their 'fully-paid-for' politicians and the Central Bank, there were some interesting details that FTV dutifully 'neglected' to point out.

- I say 'interesting' because they illustrate the rot that now permeates the 'managed' and 'manipulated' markets.  

 

On 7/7 Silver spot was slammed ~$1.00 by the Commercials (yes, JPM gets special mention here) with the purpose of short-covering, smacking Speculator long positions, and them making MASSIVE buys at-or-near the bottom. Silver dropped 6%.

- 52,000 contracts were traded within 2.5 hours (25% of ALL open interest). That's a lot. That's also 260 million ounces traded.

 

Ann Barnhardt was absolutely correct years ago when she said "If you're still in these markets, your either stupid or on drugs" just before she closed her brokerage business because she could not protect her clients money. She got out of the system.

- Of course, Jon Corzine (D) took a different approach with his brokerage business MF Global, he did it the 'new' American way....he just stole all his clients money...which returns us to the COMEX, which is doing the same thing: stealing its clients money. That IS the sytem.

 

Randolph and Mortimer Duke would be so proud!