SIL Miners ETF (SIL)

[Willie12345]

I honestly believe I should just wait for a pullback like 2019 and buy in a vti

[Willie12345]

Very intelligent perspective again!!! Don't ever think your wasting your time writing. That stuff everyone should hear regardless of opinion. Go trump

[tootalljones]

Gold wants ruination, gold wants a corrupt system to collapse unto itself, which it deserves.

We owe so much money, with people now in their 40s and 50s and 60s and 70s who have no prayer or hope, let alone the young peeps, I just don't see how Trump can stop this huge tidal wave turning ameirca into venezuela.

His plan, which even Buchanan has said, is to try to grow America out of this debt by inflation. He wants to destroy the bankers and destroy debt by inflation. This is why he is pounding daily, every day his FED chair Jay Powell to dump rates beyond belief. He knows now that Powell appointment was a huge mistake, that Powell is just another endless flunkie banker, and this is why publcially he calls him a chump on Twitter...Powell will be gone so fast after the 2020 election nobody will remember who he even was, Fired.....

Trump wants the dollar destroyed, and Powell is refusign to do this, protecting the american bankers and lenders. Trump will destroy the bankers and their huge mortgages on people, their huge debts on kids and students.
People in america today are impossibly in debt to the bankers in all forms of debt, but Trump is like, what if we steadily remove the debt by making wages go up to 30 bucks an hour, by making a hundred thousand dollars really only about 30,000? That is Trumps plan and why he wants to destroy the american currency. Currencies come and go, who cares we can always get another one by an act of congress, and americans now are strangling in debt they borrowed, like hanged men, and the bankers don't care, they will lend people until people are destroyed, their families ruined.
He knows we must inflate or die.

If homes are worth 750 grand apiece, instead of 250 grand, and the mortgages on them 200 grand (eighty percent), then debt is no big deal
people with inflatin will make 120 grand each, instead of 45 grand each.
the debt still stays at a lousy 200, on an asset which is 750 grand.


kill the dollar, it must shrink and shrivel into nothing,
for americans debt enslaved to live.
bankers will hate this.
stay tuned.

[tootalljones]

and here is the funny thing, which is actually quite hilarious:

When Trump ran for office, america was essentially over. The 3rd world was pouring in, and America had a CIA stooge the elites elected a guy born in africa, who spent much of his adult life also in Indonesia, a guy who in america was a community organizer whose true biological dad was a dedicated commie. BRennan and cia knew all of this and built this stooge who changed his name, his soc security card, gave him a fictiious birth certificate and completely fake educational credentials, saying he was a grad of Columbia U....all fake stuff for them and their control..

so they run his successor Hillary......and America was in the process of being busted out, just like the movie Goodfellas, our cities ruined and the people in them utterly destroyed and clueless........cattle'/// America was essentially to be and becomeing, what FRance has become, a totally destroyed country run by a complete Zero, the little snotty banker kid Macron, who is Obama's twin, who is owned by the banks every breath he takes, a globalist pawn...

And Trump thinks Macron is a little punk snot nosed owned by the French and German bankers and he is exactly that, and he will bust out france and is doing so every single day, wrecking the country.

Wallstreet at one time early had put a bet on Hillary by 58 million in donations, to Trump, 19 grand.....the most amazing stat of all time, as the Establishment Money boys and DC pimps did not want the boat to be rocked, this small group was getting so rich gradually turning america into VENZuela, with the dc governmetn peeps also wetting their beaks immensely

so then Trump wins........funnily, the financial market goes up, Trump immediately destroys all the socialist regulations, he gives a tax break to 90 percent of america, and he drops the corporate tax rate in half

the market goes up....

Had hillary have won, the market would have been crush and the socialists would have come in like africa and south america and the middle east, and just taken over...........but gold would have gone crazy higher.

Now fast forward.....Wallstreet has earned Trumps' trust, and he still hates them but they are learnign their place.....So trump, who was once their enemy, isnow their buddy. They know he is rebuildign the country, and now, there is no doubt, the fund managers are slowly coming to like him, even though most are scum bags, they like money.........

Trump as I have always said, and thought, is very bad for GOLD. Now the chinamen, who were busting out the stupid americans, buying their politicans like this fool joe biden, bought and paid for, now has to worry.......
Trump is breaking China's back
now china sees Trump will be reelected, they cannot wait him out to continue to own America, own our colleges, pay off the pols

so China's threat is now diminishing.
Gold could get killed here
who knows, even though America owes so much from the past half century with debts out the wazoo.
GOLD has to go down. For now, but not forever. It will go down here and retrace. How low who knows. If china tells Trump to go to hades in the next 3 weeks, that is a different story, but he really has them by the neck and he will never give in..

I think gold goes lower, how far who knows...China will never capitulate, but.........who knows.

Wallstreet that so hated Trump when he ran, like he was some foreign entity, an alien breaking up their fun, and Hillary used to get 400 grand givig little talks to Goldman sacks, to wet their beaks and pay her off
so wallstreet that was in the pockeet of Bush and HIllary,
now loves TrUMP......
he tells them to go to hades, but they are back in the cage, for now...
and they now know their place and he loves to crush them, but now Jamie Dimon at least has his mouth shut.
As TruMP makes america money, and america has dodged socialism for now
and gold which hates staiblity and the dollar, ...hates Trump.

Gold wants ruination, it hates a corrupt Kingdom. Think Robin Hood. I am sure when Robin was around the people were buying and hiding gold from the sheriff of nottingham and the corrupt King....

gold will go down, unless the chinamen tell trump it is total war.

and that is all for now folks

[Willie12345]

Thanks I'll always be here . Peace out . I took a bad beating. I don't like to lose.

[tootalljones]

yep, ....the charts look horrible. and the momentum. Their argument is that if China was the reason gold stocks went up, and china has been tamed and lasoooed, then China is the reason gold stocks go down.

gdxj went from basically 30 (actually 28 at the lows) to 42.7....

many of these individual gold and silver stocks went up 50 to 70 percent on this move. AG a great mid tier siler stock doubled.

everybody is looking at 1450/60 as the halfway point of the 1350 3 year breakout but all of this is just who knows. How about if it hits 1460? How about if gold goes below 1460 because Trump announces with Xi a "temporary" agreement?

Wallstreet thinks it knows this: If DEMS and Hillary socialists get in office, gold goes over 2000; they know america will go crazy socialist.

So the stronger Trump gets, the less likely the lunatics will take over, the DEM peeps on tv, .......so they are so crazy, WALLstreet is betting they have no chance.

SO THIS IS THE SAME INFO CHINA IS GETTING BY THEIR SPIES AND pacs. ....
WHICH MEANS, amazingly, that China is getting weaker, as TRUMP gets stronger, and the odds of him winning are without any doubt getting stronger by the day.

commodity stocks in oil and metals and every other kind of commodity get the heck beat out of them for so long.

If the world structures appear to be good led by America, gold gets killed

If gold has been on a 3 month tear, gold gets killed

if the dollar goes up, gold gets killed
sheat phouck
I am sure the financial industry knows this and does not tell people but Richard Russell, the greatest man of the last century who was in the stock market for over 60 years, said that stocks exist so that retail people give their money away to wall street....He saw 50 bull and bear markets in everything that exists....

Peter Marrone the CEO/ board chair of AUY, a senior gold producer, was himself his whole career a financial guy. He got a hold of Yamana gold when it was 2.3 bucks 20 years ago, and the stock went to around 15 bucks a share. He is good people, owns millions of shares, and has put his family into his company. Today Yamana is around 3 bucks, something like that, I forget.....so for 20 years, his company has done nothing, and it is considered a good company, with many others having gone by the wayside. gold sucks unless they are giving it away. The stock market is a loser game for retail.
so many other companies like Peters..............

I am just gonna wait for lower prices if they come down. The fact is this: only about a small percent of the largest companys, basically tech companies, have done well the past 3 years......everybody else is up a little bit of way down or way way down......These indexis do not tell the tale of most companies.

I would estimate: 20 percent of the S and P is up a lot; 20 percent is up a little, 20 percent down somewhat, 40 percent down a lot and non S and P, the figures are far worse, with over half down a lot the past 3 years....well over half down a whole lot. This is a deceptive bull market as everybody knows. It is not really a bull market. Bio companies have gotten squashed, with only the top 20 percet having gone up a whole lot....the rest are under water.

just like commodity companies. And I know the stock market. Have made hundreds of trades in 50 companies and 20 industries the past 3 years.......America is down the market unless you picked the top FAANGs basically. and many are down hugely..........

[Willie12345]

Seems like I was born to lose with this stuff. I'm just going to get out myself.

[Willie12345]

Wow a little shocked seems like you were bullish for a long term play u believe it going a lot lower

[tootalljones]

dumped all my sheat....will try to get back in next week far lower. These are real momo herd types......Got run over here some.

each to his own.

[tootalljones]

i keep buying who knows where this will stop but no way it goes to 35......but who knows. again, by year end, the odds are overwhelming up from here, but these gold funds are just trading funds. They dump and dump and hope to buy lower....

[Willie12345]

Very informative again I appreciate your time. I know my English is poor. I totally understand what u are saying

[tootalljones]

roughly the high of gdxj was 42.7, hit sept 4th, minus ten percent pullback figure which wall street likes to use, = 4.3 is 38.4
I factor in that this is gold stocks so you know the 3 month pullback will be more than 10 or 12 percent

so just add in another 2 bucks, perhaps almost 5 percent, and we are at a good 14% buy point today as a pullback

14% retracement. 42.7 * .14

5.978

42.7 * .14
so we are right there now, if this is just a 14% retracement.

a $5.978 buck retracement if it is 14%.....which is the current price of gdxj

soemwheres around here. The mantra is that when you are in a YOUNG bull market (not an aging one), pullbacks are very sharp but short in duration. My calculations are arbitrary I suppose. I gotta figure as rates come down, GDXJ will be up to at least the old high, which means closer to a 20 percent gain, the next year. IF WE ARE IN A PRECIOUS METALS BULL MARKET, IT WILL BE UP EASILY 2X THIS, 4O PERCENT....BOTTOM LINE GOAL

[tootalljones]

i have sucked too for a long time. I used to make so much bank.
financial advisors are just clerks, but some are good.

I look at Stockcharts for GDXJ, what I somewhat arbitrarily choose as a proxy for the precious metals sector,

and I look at it from a 3 year perspective, which is the way i once again, try to look at this sheat

and then I look at GLD

my conclusions are this: charts tell you nothing. gdxj looks very good, and gld looks impossible, but the gold miners are like plutonium, they are like silver stocks, way out ahead of the future

what neither chart can tell you is the radical, and I mean radical, switch of global central banks the past 3 to 6 months....totally different from the FEd, which Trump is hammering day in and day out....and he is right, the banksters wrong. Other countries are trying to get it together. The scum germans are NEGAtive INTEREST RATES...

THE STRONGEST ECONOMY IN EUROPE, THE SCUM GERMANS are desperate beyond belief and they are smart peeps.........

so if 1/3 of the world is negative interest rates, then two things MUST HAPPEN:

1. people will switch out of paper into gold, that is logical, why would you hold paper if with gold you get realness and are not paying interest? this is a lot of peeps globally.
2. america must bring its rates down. I know they want to engineer a recession to take back DC power, I get that, they are what they are, establishment people and trump hates them and they hate trump, but their time is limited. He is gonna be pres, he will get a new FED chair, as this guy, is not a bad person, but he has no balz, and Jay cannot stand up to the establishment bankers, that is an understatement.
3. So jay either does what the JP morgan bank chief guy said, and he said it like it was obvious what the FED must do, or Jay is fired. I think he is a completely dead man walking. Trump knows he is a pussey boy. .and then, in little more than a year, we get a new fed chair, and that guy will drop rates like god knows what, and gdxj and sil will smell all this out way ahead of time

who knows i wish i did............but these corrupt western and chinese govenrments gotta inflate or they die, that is the bottom line. They cannot once again, have severe crushing recessions, or they are out so fast on their asses.............
who knows. \
having spewed this stuff out, I have no idea....Maybe the system is so strong it holds together. I think negative interst rates means the middle class and working class pension people of the world will lateral a lot of their dough into gold.....I would

[Willie12345]

Thanks again. I respect your knowledge and experience. And I need help. Nobody will help me. All advisers tell me to just wait for a crash and go into s&p index funds. I really to a huge hit. It's killed me.

[tootalljones]

great willie. fwiw, a lot of gdxj is silver miners too....my plan over the course of the gold silver bull is to move more into sil and silj...all will wildly outperform gdx, if indeed we are in a gold bull.

[Willie12345]

Well I'm sil and silj I think you're correct. Of coarse I've been doing my own dd for what it's worth

[tootalljones]

the gdxj breakout, fwiw, was 35 bucks. It is perhaps the core index, as much as gdx, as the smart money in a bull market will gravitate to gdxj, and silver in a true bull market......

but anyway.....gdxj range for several years was 28 to 34.5.....and trending down of course

I cannot imagine, with the thing going to 42.5, we get near below 36 bucks, but you cannot tell, gold stocks are crazy

My thinking is that now is different from the 6 month false gold move 2.5 years ago, is that the world now is dropping rates and going negative interest rate, and this is a huge quanitity of central banks, not just a small percentage, something like 1/3 in the world....America must come down, trump is so obviously right.....The JP morgan chief economist yesterday said we must drop an entire point between now and the election, and this still probably won't stop a recession...

but a point puts gold up to all time highs maybe who really knows
it's crazy, like here:
insert-text-here

[tootalljones]

to put it mildly, I am not a fan of the mystic of people from other countries being smarter or better than american citizens, in fact, the data is exactly the opposite, but this guy I have followed for many years, and wish I had simply bet with him years ago. and i have followed him in biotech too, where he is fantastic

and what he is saying, and I think the interview is 2 days old now, what chen lin who is very down to earth and strong, is saying, is that when gold breaks 1500, which it has done, you take a position.
I agree big time...we can flirt with 1484 but gold stocks move ahead...i think now is a good entry my 1c worth ps: i think chen is american, not that this matters at all for investing purposes.
Charlin Chan was terrific detective!
anything in the 36 range is excellent for many reasons....it is just a lousy dollary range. https://www.kitco.com/news/video/show/Kitco-NEWS/2540/2019-09-12/Golds-next-uber-rally-is-near-needs-to-hold-$1450--Chen-Lin#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DKitco-NEWS

[tootalljones]

right now is a terrific bet in any of these etfs: gdxj, sil or silj...
risk reward is good and I am in......greed is the one thing that is the stock speculators enemy, worse than fear and now the greed idea is getting it cheaper.
wrong
the only way one can be wrong is if we are not in a gold precious metals bull market.
but that is not the bet

[Willie12345]

Thank u so much. I'm really interested in taking a position in silver. I've never owned any metal stocks or etf's which to me is the only way to go. and have yet to pull the trigger. Word on the streets is silver is going higher. Again I respect your opinions on investing. And have taken a beating. Need to get some of this money back.

[tootalljones]

been buying this a.m. willie...fwiw

[tootalljones]

Hi Willie, here is what we know as best we can in any speculation:

Today gold is up around 11 bucks, but the proxy for gold stocks, GDXJ, has barely budged, up a lousy cents as I type. GDXJ is comprised of mid tier producers and developmental companies above the pure explorer levels.

If this were a good time to buy, you would see GDXJ up at least 50 cents.

For instance, 2 months ago there were days when GDXJ was up at least 50 cents on such a big gold move, but not today, so we are in a retracement here.

I am looking to take a sizeable position the next step down. REmember however, or so they say, in bull markets the pullbacks are sharp but brief, so perhaps it is best to simply put up some GTC orders. I am gonna take my odnw advice and just throw stuff out there closer to 37.

If the wave comes down it will grab me. I don't think a 4 month wave higher, breaking out of the 3 yr trading range, retraces fully in just a week, but who knows...Sentiment in this sector is still wildly bullish and long, never a good time to buy.

The next step down will really hit people in the chops, so that is good time..

If it happens, it happens. I always lose when I chase.

on this, GDX, SILJ and SIL....throw them out there and play golf.
The core assumption here is we are in a gold bull market, an assumption that has been proven false for the past 7 yrs of this Precious Metals bear market.

ps: I see Citi just said in 2 years gold will be at 2000, which is a triple in gdxj and a 2.5 in gdx from today's price.
who knows...........

history in every bull or bear pm market says silver will wildlly outperform gold no exceptions. This means sil and silj will outperform even gdxj

[Willie12345]

I would be interested in knowing when u feel it's the right time to buy. I feel this is the right pathway

[Willie12345]

I'm waiting also

[tootalljones]

maybe today was bounce day and it is fading....the financial industry has an expression for every topic, in fact a hundred, and yet, those suckers cannot outperform the S and P. It is true, proven by the results.

[tootalljones]

I have not bought back into what I sold yet, no gdx gdxj sil or silj...
there are times when a pro needs strict discipline. I have had this before and seen the stock run away from me, quite a bit actually, but then there are the other results.

Hoping we get some sort of mini correction next week. Me and everybody else watching the gold market.....
very uncomfortable but gotta have disicpline to make the big bucks.

[equijohn]

Agreed

[tootalljones]

I would caution anybody NOT to go heavy in gold or the miners right now. Gold is all over the Pop media, like Yahoo Finance, article after article. Also, it is showing historic extreme overbought. The last 11 times this overbought in the past 25 years has resulted in sizeable corrections, approaching 23 percent. Not saying it will be this bad but now is not a good time to buy. Just play the odds. Entry price as buffett says is everything in any investment.

[tootalljones]

Last post today, promise: if you follow the work of Adam Hamilton, at Zeal, LLC, which I have on and off for almost 20 years, he has shown very clearly what happens at the early stages of a genuine PM gold bull market, which is marked, or was marked with the one that went from 2002 to 2011 when it peaked.

He documents, endlesslly in fact, that the bull in the miners is marked by a series of huge runs higher, and then significant retracements.
In fact, in the last one, I think that Bull had perhaps 8 to 10 such huge moves, lasting anywhere from 3 months to about a year. Anyway, the early ones were the most powerful, with the the gains in the funds, gdx and gdxj, which he uses as proxys, being up there around 150 percent, before the retracement.

of Course, as that bull aged over time, the moves were even higher in actual or nominal terms, but the percentage moves, were less and increasingly less.

This pattern is only logical, as when a bull market errupts, it tends to be very very powerful in raw percentage terms. What this means is that this move in Silver stocks, is fairly early in this first breakout move, perhaps now being up only around 25 to 35 percent, depending on where you consider the base was.

[tootalljones]

I have sizeable sums split equally between this etf and the junior one, SILJ, slightly more there actually. I wonderful if you could gain small amounts after costs by selling the one that might be up the most on any given day, and redeplooying into the other one, sort of like seesawing it, in order to enhance gains. Over time it might add up a ton.

[tootalljones]

Trump is an inflationist without any question, and the DEMS are crazies financially, so this is a perfect environment for Gold and silver.

Trump knows America and its young peeps are so screw by debt, which he himself, in his own businesses, abhors. How are young adults even gonna get out from under their college loans? He knows full well the only way to do this is to inflate away these debts, by deflating the currency. A hundred grand school debt is not that big of a deal if everybody is making 90 grand a year. YOU gotta do this, by lowering the value of the dollar....This is pretty basic. He also thinks a 2 percent inflation rate which is the FEDs idea is completely ridiculous. He does not look at things like government flunkies and career politicans on the public dole, people who could not get a job in private industry unless they were mowing lawns for a living. ON the other hand, which is even better, the democrats these days even call themselves socialists, and stats show perhaps half of all people who say they are democrats, confess to being socialists. So this is also very positive for gold and silver. They will destroy America as they have done our cities for 50 years, if they can only win the presiential election, as socialists destroyed the soviet union, the national socialists of Hitler's german party, of china which is a disaster ponzi scheme, of cuba, of venezuala, of argentina when the LEFT takes over.....so this is very postiive for gold and silver. If the DEM were to win the presidency, gold would go up 400 bucks the day after the election, as everybody flees the socialist's capabilities....
My point is, and the takeaway here is, that politically, EITHER WAY IS A GREAT ENVIRONMENT FOR GOLD AND SILVER, although I think longer term you are better off in a strongly inflationary environment.

[tootalljones]

U.S. Budget Gap Set to Top $1 Trillion in 2020, Two Years Sooner Than Expected
By Katia Dmitrieva
August 21, 2019, 11:00 AM EDT Updated on August 21, 2019, 12:44 PM EDT
Trump to preside over $1 trillion of red ink in election year
CBO calls fiscal outlook ‘challenging,’ debt unsustainable

[tootalljones]

Finally, silver stands basically at 30 year lows in comparison to the price of gold. This must change, and I truly doubt gold is going down. I can see POG at year end at 1630, so with a contracting ratio this might be silver at 20 bucks, and SILJ and SIL up perhaps 50 pecent from today's price no problem.

Now imagine silver the metal at even 30 bucks. Another double in these etfs easily, or higher.

[tootalljones]

So much is lining up for silver. Trump wants rates dropped an entire point and just said so on twitter, and he has been hammering Jay Powell for six months now, and he will fire Powell if powell screws this up, and Powell knows this.

The last rate cut, the first of this cycle 3 months ago, Trump tweeted, "Powell screwed us again," something like that on his twitter feed beccause the cute was only .25

Second, western governments, and also asian governments are flat out broke as the brokest broke man. They must debase their currencies or there will be mass poverty and revolutions, at some point in the next 3 or 4 years. EVerybody is now debasing, lowering their rates;

Third, the governments have become welfare states, and they have printed perhaps 25X as much fiat in this century, the last generation, as there is gold and silver, which stand at all time lows, relative to fiat. The precious metals are woefully behind, being up merely 4.5 times in the same period.

This ETF will do tremendous, and the junior one, silJ, will do even more tremendous. There is precedent for this. During the last bull run GDX went up like 4x, but gdxj went up about 6X.....

[tootalljones]

When people make 10 or 15X their money, it all begins with an idea. My middle son, who is a software programer now, very successful, bought a bitcoin many years ago, when he was a a freshman in college. I forget what he paid, like 36 bucks, something like that. He is tight with a buck, always has been, lol

[tootalljones]

THINK BITCOIN....these are conservative predictions. Silver ETFS will be acting like bitcoin for several years, AFTER SILVER ITSELF IS UP MANY TIMES FROM ITS CURRENT PRICE OF 17.

[tootalljones]

When gold breaks 2000 in 2 years from now, silver will be around 45 bucks. The mob will see that gold seems too expensive and they will have flocked to silver. People will be saying, why is silver lagging because gold is at an all time high?

When gold tops out during this bull run at 2600 in 4 years from now, Silver will be $75 u.s., and people will be talking triple digits. And then silver will collapse back to around 20 bucks over the next 6 years.

This silver etf SIL, now 29 will be 180, and SILJ, now 10 will be 75.

can you wait 4 years from now? We are at the beginning. Remember, just like every other bull market in history, in 1934, 1978, and the past decade of this century, when gold starts getting "too expensive," people will always shift to silver for a perceived better value.

[Georgia1968]

Hey Pro-life- ¡¡¡Que Dios le bendiga!!?

[Pro-Life]

Unfinished Business
Theodore Butler | February 1, 2018 - 11:23am

http://silverseek.com/commentary/unfinished-business-17082

The big news this week was the filing of charges and settlements for price manipulation and “spoofing” brought by the CFTC, in conjunction with the DOJ and FBI, against three banks and a half dozen individual traders; mostly involving illegal trading activities in COMEX gold and silver futures. The announcement set off a debate about whether the filing proved the allegations that gold and silver prices were manipulated as many, certainly including me, have maintained.

www.cftc.gov/PressRoom/PressReleases/pr7682-18

Put simply, the filings do not prove that silver and gold have been manipulated lower in price over the years. But then again, neither do the filings show that prices have not been manipulated in the manner I contend. What the charges do prove is that spoofing is a corrupt and illegal practice that should not exist in any form and on that basis. My immediate reaction is what the heck took the CFTC this long to act? Regular readers know I have railed against spoofing for many years as being completely devoid of any redeeming or legitimate features while the CFTC stood by. The practice of placing phony orders to influence price should have been outlawed from day one.

That said, I suppose it is good that the agency finally took action, under the kindest interpretation of the cliché of it’s better late than never. Certainly, those banks and traders accused of the practice will likely not do so in the future. And seeing the CFTC actually use the word manipulation in connection with COMEX gold and silver can’t be considered bad. Beyond that, unfortunately, the charges and settlements are troubling in that they only scratch the surface of whether silver and gold prices are manipulated.

Truth be told, if the regulators were out to clean up what ails silver and gold pricing, then they didn’t come close with these filings. If the CFTC was intending that this week’s announcements showed that it was truly cracking down on bad actors in silver and gold, then it failed. I would remind you that many of the violations announced took place while the CFTC was in the midst of its infamous five year silver “investigation”.

Think I’m being too hard on the CFTC? Then try explaining how the agency has managed to ignore the activities of the most prominent gold and silver market crook of all – JPMorgan. It’s not as if the agency hasn’t been given ample evidence of JPMorgan’s dominant role in manipulating prices ever since the bank took over Bear Stearns in 2008. I know because I’ve done nothing but make the case against JPMorgan for nearly all that time.

And I must say, I am disappointed in the actions, or lack thereof, of the Enforcement Director, James McDonald. Privately, I’m still assured that McDonald is a straight arrow, although lately the question has come up whether what JPMorgan is doing is really illegal if higher ups in the government pecking order have ordered McDonald to keep off JPM’s case. To that I say balderdash – in matters silver and gold, JPMorgan is a stone cold crook and no order from above supersedes McDonald’s oath to uphold the Constitution and the law of the land. It’s disturbing that the agency seems to be going after the little fish, while the biggest market crook of them all, JPMorgan, gets a pass.

It’s not as if I haven’t gone out of my way to present the case against JPMorgan to McDonald, starting on his first day on the job last April 10. I spelled out in great detail how JPMorgan had never taken a loss on any short position it ever added in COMEX silver in nearly 10 years; a trading record that would be impossible if JPMorgan wasn’t rigging prices. And get this – since I wrote to McDonald last year, JPMorgan has added and bought back silver shorts on four separate occasions for more than 10,000 net contracts on each occasions, making close to $500 million in total trading profits. As a reminder, I base all my calculations on the data published by the agency.

http://silverseek.com/commentary/another-opportunity-16489

In that public letter last year, I even spelled out the rationale for why JPMorgan was manipulating silver (and gold) prices, namely, to allow this crooked bank in acquiring as much physical metal as it could get at the lowest prices it could rig. This is the means, motive, opportunity and intent behind JPMorgan’s manipulation – to pick up as much cheap metal as it possibly could. In the last 10 months, in addition to racking up massive profits in paper COMEX trading, JPMorgan has added another 100 million oz of silver to a hoard now measuring nearly 700 million oz. And as I have written recently, JPMorgan has been doing the exact same thing in gold, namely, making enormous paper profits by being the largest short in COMEX gold, while picking up boatloads of physical gold on the cheap – at least 20 million oz over the past 5 years.

You can lead a horse to water but you can’t force it to drink. I can lay out the crimes of JPMorgan, using the agency’s data and taking the risk of publicly accusing the nation’s largest bank of criminality, but I can’t force to the CFTC to do its job. After all, the easiest way to dismiss these very serious allegations would be to openly address them. To be fair, should the CFTC ever get around to cracking down on the crooks at JPMorgan, I will happily eat my words and sing the regulators’ praises.

Ted Butler

February 1, 2018

[Pro-Life]

Headed up...

[Pro-Life]

Ahhh... LOL... ooooops... possible but just another buying opportunity in my view... those days are nearly history.

[JohnCM]

You do know I was talking about spot. $16.01 today.

[Pro-Life]

Never...

[JohnCM]

Do we see 15's again?

[Pro-Life]

Basing... ready for the monster mash!!! Collecting mode!!!

[JohnCM]

What is up with the silver miners?

[Pro-Life]

Silver Flash Smash was a 'Glitch'- SKG Comment LMAO!!!
by Vince Lanci. Jul 7, 2017 8:57 AM

http://www.zerohedge.com/news/2017-07-07/silver-flash-smash-was-glitch-skg-comment

And there you have it. in a matter of seconds thousands of contracts traded electronically, much of the price action was removed, and there may have been a glitch somewhere but with whom we do not know. Confidence restored.

In any event we cannot know what happened. This is because we are not privy to facts. And that encourages speculation. So, if one wants rumours to stop, one must give untvarnished truth as to what happens. To not do so is to risk market integrity. It is also to invite nonsensical speculation that somehow the algo and the bourse are codependent to the point that revealing the unintended but real problem will also reveal the conflict that our political bettors have enabled with their complete ignorance of markets.

[Pro-Life]

Broke support...

[Pro-Life]

Have we marked a triple bottom here???

[Pro-Life]

Still in go mode... waiting for beast mode.