Hommel Files Antitrust Complaint With DOJ Regarding Silver Manipulation

Mesquite

Don't know this guy from Adam - I presume this report is on the up-and-up.

cladking

<< <i>NIA believes the precious metals markets are currently being artificially suppressed by paper gold and silver that doesn't physically exist. At last week's CFTC hearings, Jeffrey Christian of the CPM Group admitted that banks have leveraged their physical bullion by 100 to 1. This means for every 100 ounces of paper gold/silver that trade, there could be as little as 1 ounce of physical gold/silver in the vaults backing it. However, Mr. Christian sees no problem with this because he says "it has been persistently that way for decades" and there are "any number of mechanisms allowing for cash settlements". >>



This is utter madness and has long been the basis for risking the lives
of billions of people and those foolish enough to waste their money by
buying this worthless tripe. The paper silver has value only so long as
the price stays low. When it goes up the company, the profits and the
principle all vanish into this air. They can print unlimited quantities of
paper forever but they can't make medicines, optical equipment, and
electrobnics out of paper. When the silver is gone because of the arti-
ficially low price it won't be only the thieves selling paper and their cus-
tomers out of business but swaths of the worlds' manufacturing capa-
bility.

I think he's exaggerating the effect on the dollar but I do sometimes
worry that the implosion in paper silver and derivatives related to them
could take out the bond market and thereby the dollar.

The alternative to ending it now is to continue to let this steam cooker
pressurize.

Imagine if your bank kept only a dollar of every hundred dollars you de-
posited! Then they even loan out your safety deposit boxes.

But the important thing is that they get their multimillion dollar bonuses
as they pick the last of the meat off the carcasses of all they've already
killed in their lust for money.