Re: CNBC Breaking News - JP Morgan Materially reduced silver futures
posted on
Dec 14, 2010 03:20AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Here's my main problem... I don't believe a single word that any financial institution says, nor any government or private body says about a financial institution. The current system has been extremely shaky over the past 5 years due to policies that stretch back more than 25 years, but no one with a stake in keeping things as they have been would dare go against what is needed to keep the status quo. That means, the Fed, the Banks, The Hedgies, the Media... whomever is asked about manipulation or illegal practices will deny it or stress that things have now been corrected behind close doors.
Lying B@stards. Seriously it just boils my blood to know that the majority of people with their little amounts of hard earned cash and hours of studying companies, markets and trends are up against corporations backed by the government in manipulating markets and stripping those people of more than their tax monies. I always said that the lottery is a tax on people who have bad math skills, but investing in markets shouldn't be a lottery, it should be a fair playing field where each of us has the opportunity to buy a part of a big company, or to own a piece of a commodity without storing it in our basement. But we can't... we are forced to horde it as we can't trust the very institutions set up for the very purpose of storing things for us! We also can't trust the government to back us up if the institution is proven to be lying about being trustworthy... where can we turn?
In order to correct the situation, we must trust that the number of people in a small market like Silver, who know how the game is played, will buy in such amounts and demand the physical that they can somehow overwhelm the 'paper silver' produced in unlimited amounts by the financial institutions and the government. It's the 5% informed against the 95% uninformed who are going against their own interests for the sake of an easy transaction. It also doesn't help that the governments (including our Swiss one here) often apply bar fees and sales tax on physical procurement, but nothing on paper silver/gold. Hmmm... why the difference?
Anyone who think that we are not manipulated is being foolish. Anyone who believes what JP Morgue says through their lapdog media is being very foolish. They will say literally anything to stop that 5% informed group from finding a way to disrupt their cash cow. Anything. How else to JP and Goldman bring in billions of profits every year? Fees they charge clients? Hah... yah OK, that many people still use brokerage or pay for financial advice... not. They have continue to make money by morphing into something other than what they present themselves as due to necessity. The trading game changed in the public favor with the internet... so how to keep making billion? Easy- manipulate the small markets by making small markets into big ones through creative paper. Derivatives, paper tracking funds etc... anything that makes money, but doesn't impact the physical goods, be them silver, gold, shares etc. Thus the price is easy to manipulate as the real market remains small enough to influence. Hell it's in the blood name... GOLD... Man and Just Paper Morgan. Kind of like teasing us really.
We're all here as we believe that the silver pinch is coming. I agree. This is one place where the big boys (if the government doesn't step in, or the organizations don't scare the masses somehow) will get whooped badly, but lets not fool ourselves, it isn't us whose doing it. It isn't our coin collections or silver bars at home (although it sure will help momentum)... it's another big corporation or individual sensing an opportunity through greed. China just needs to back a bank with enough capital to buy enough physical to bust the market wide open and make billions of their own. It's a playing field for big boys. The big boys don't care about us little guys, we just get in the way. In the end, the little guys get black eyes and scraped shins by trying to play rough with the big guys. Some of us will be on the winning team and feel a part of something special, but in reality it's just the big boys who win or lose. Sometimes as little guy you just have to shut out the catcalls and the play-by-play and just jump in feet first and hope you're on the winning side.
I for one could care less what JP says. I sense that there is desperation in their quiet messages to the media dogs. I won't budge one inch until the big boys help me across the line... I'll feel like a winner, but I'll know in the back of my head that there were larger forces at play who probably knew the score before we got on the pitch.
Good luck to all... (for the record, i don't personally think a big hit is coming today, but I am admittedly a horrible day trader, seems I don't have the best ability to 'read' the market (or just plain manipulate it)).
Soul