A MIDAS ALERT from GATA Bill Murphy (LeMetropole Cafe newsletter)

via email timestamped @ 11:35PM ET 9/13/2010

Le Metropole Members,

MIDAS ALERT!

In my commentary tonight, I reported on the ridiculous raid by JP Morgan Chase on the silver market to nullify the spectacular aspects of the technical close above $20 and a two and one year half high. The JPM bums, and long time Gold Cartel veteran gold GATA antagonists, took the price of silver from $ 20.11 to $19.93 in minutes in late Access Market trading for no reason ... based on no outside market activity.

At post time, which is 9:30 CT, silver is $20.15 bid, which means the ALL MIGHTY silver banker tycoons have been stuffed. Even gold is challenging $1250, a key resistance area for the low-lifes of Larry Summers' Behavioral Financial Program.

The reason for this alert is that I suspect, as a former limit position commodity trader, that the weak hand of the JP Morgan and allies short position, was just called into bluff ? and I THINK, that the JPM camp blinked and is standing a bit naked.

Gold and silver prices are likely to explode from here.

This could be a historic pricing period for precious metals.

Those who know what GATA knows, will know why!

I salute Café members who will make fortunes in the years to come.

All the best,
MIDAS

Member's auto-logon:
Le Metropole Cafe
www.lemetropolecafe.com/entrance.cfm