Le Metropole Members,

As Cafe members know, I have been jumping up and down for three weeks that giant moves are coming in gold and silver in August for the reasons articulated in my column time and time again lately.

Those moves seem to have already begun, as we have seen gold and silver moving up nicely over the past number of days. As you know, three different sources have told me the JPM silver short problem is going to come to light in the not too distant future.

Dan Norcini is as sharp as they come. He told King World News the following today...

King World News is reporting on an absolutely stunning development, this time in the silver market. Acclaimed commodity trader Dan Norcini told KWN that in the silver market, '... the hedge fund outright short position is the largest position that I've got on my records going back to the beginning of 2007. We're talking about a five and a half year period.'

Norcini also noted there would be a huge move in silver, "if they (hedge funds shorts) get caught on the wrong side of that market ... because all of those shorts are going to head to the exits at the same time."

Should my info be on the money, with the hedge funds this short as Dan is saying, look for SUPER fireworks in the price of silver.

GATA BE IN IT TO WIN IT!

Bill Murphy