Breaking up the silver market fraud – led primarily by JPM – will be my second Wall St. take down in six months. Remember that after $20 million spent creating box office futures contracts – and getting VERY CLOSE with Gary Gensler (former Goldman crook) at the CFTC – all it took was to whisper a few obvious points of how box office futures would crash Hollywood and the MPAA – within two weeks – got Congress to Outlaw Cantor Exchagne (too bad the rest of America doesn’t have advocates working in their interest like Hollywood’s copyright cartel does). This was a bitter pill for me to swallow because I hate the copyright cartel and HSX/Cantor exchange would have killed them, but I decided it was in the interests of the greater good to put Cantor X out of business. Now they’re gone. Similarly, JPM has violated the public trust in an outrageous scheme to keep the price of silver down and to profit on their highly leveraged short position. The wheels are coming off JPM just like we saw with Cantor Fitzgerald. Let me point out to those who point to the futures market and say that ‘for every seller there is a buyer’ and therefore, there is no net short position to exploit. What is being overlooked is that the majority of longs and shorts are BOTH coming from JPM. Just as GS uses HFT to steer prices with ‘quote stuffing’ JPM violates the position limits laws and ‘steers’ prices by overwhelming the exchange with enough volume to crowd out any legitimate price discovery – thus leaving only manipulated prices behind. Obviously, as the inventor of the most widely used market rigging technology today, the Keiser, Virtual Specialist Technology (designed originally to overcome fraud in the way the NYSE and other exhanges operate, NOT assist accounting control fraud) I am not fooled by the techniques being used by JPM. Additionally, most of the silver market rigging takes place in the OTC derivatives market anyway, so most of the comments written (all now backing away from their hardened, inaccurate positions) are not even in the ball park when coming to grips with this massive fraud.
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@ Fraccy….
I think you might be on to something.
We need Keiser and Wikileaks to merge into KeiserLeaks. Find evidence, not arguments.
Excellent points, Max!
This investor pig will continue to hold his silver as there is much time left to put the spurs on, set your rope, then ‘slide & ride, cowboy’ on the Silver Bull.
Unlike most other pigs, I won’t get slaughtered and neither will any of you readers who hang on to your physical Ag, the 47, the mirror-fineness of the bullion I’ve held just gives me this wonderful, warm and inner-bubbly feeling, and no, I didn’t pee my trou either!
Short term, volatility is still ruling the roost. I’m still awaiting another sub-$28/Oz point to get more silver bullets. I came damn close to reaching that just two days after my last announcement of that sort in this forum. Pullbacks will be brief, thanks to what Max correctly states “The China Put” placing a firm floor. What I see is even more worldwide impatience setting in where even that floor from Asia may well become more irrelevant.
Got Physical?
L T P
@lickthepig on Twitter
@ William of the North
The fundamentals do not change. But the Bayesian probabilities do when the intervention is factored. To continue your analogy with the horse, if the Dutch bet is accurate you can profit for win or place, but generally you will suffer loss if the horse dies. JP is like rigging the game by medicating the horse prior to the race.
Naked shorting, HFT (High Frequency Trading), “..crowding out legitimate price discovery..”, misusing the Virtual Specialist Technology (designed originally by Max Keiser to improve service, NOT assist accounting control fraud), is why the Dutch bets are not accurate under these conditions.
Here’s a good sign in Canada. The Senate is going to recommend to get rid of the penny. Even the new debased penny cost 1.5 cents to make the 1 cent coin.
http://www.cbc.ca/money/story/2010/12/14/con-penny-debate.html
Move along Canada. No Inflation to see here. Move along.
Max disappears to some remote island or country villa to kick back, smoke his fine cigars, and reminisce with Stacy at the local pub when silver = $250/oz (gold $5000).
MK’s story will make a very nice chapter in the history of the transformation from tyranny. Hope y’all are capturing it for posterity. But JPM isn’t down yet and there’s still a war going on. Silver down, putting the word out to buy while still cheap.
Silver down – good sign.
It is funny how others in finance refer to the silver campaign and present the situation in a much more benign manner but essentially it all sounds the same and is getting louder – that what Max has been claiming all along is true. Cockroaches don’t like the light. Looking forward to completing this campaign and getting onto the next as it arises. I appreciate your hard work Max. You’re a good egg.
@Max or Stacey, or any one else able to answer,
I have a question. Isn’t trading on the exchanges, like betting on some sporting event? Let’s say it’s horse racing. If you are in the grandstand looking at the betting sheet, you’re probably better off just to bet the odds posted. If you just came out for the day, you have no real knowledge of the condition of the horse, training issues, etc. However, if you are the owner or trainer, you are intimately familiar with how the horse ‘probably’ will perform on race day. You have inside information.
That being said. The owner has more information at his disposal to make an “informed” bet. However, just because he goes all in and bets the house on his horse, doesn’t guarantee that his horse is going to win. So, if he places massive bets, is he trying to steer the odds? It certainly may influence people willing to place a bet in the stands, but, how does it affect the race?
Now with JPM, if they bet wrong (which seems like a good bet right now.) at some point they have to become buyers to settle up. Which means they have actually become guaranteed buyers, pushing the prices up even further.
So i see how JPM short position, may influence the psychology of the buyer, but how does it affect the fundamentals of the asset per se?
JPM down what are the direct consequences for the Fed… they worked together… QE3 … massive devaluation of th dollar ?
your a freckin super hero Max
You are spot on Max.
These jokers primarily trade in disinformation and deception.
The only thing that will expose them is when they run smack on into a failure to deliver,
even if they ‘persuade’ the exchange and regulators to allow them to settle in cash.
A good explanation of the silver shorts mechanism back in April during the Andrew McGuire silver storm front – now it seems the storm is gaining strength.
http://www.youtube.com/watch?v=_0QnMzzRboY
Do not be fooled….this is only a smoke-and-mirror ploy by the JPMorgan trickster to have you look the other way while the crooked dimon wreaks avock in the silver market under different entities! keep crashing jdmorgan…BUY silver today.
One hand clapping.
Those arguing that “for every seller there is a buyer” . . . they don’t understand naked short selling; there is no real seller in naked shorting, they don’t have anything real and tangible to sell; there is just fictional supply meeting real demand; the Eiffel Tower has been sold a number of times but not once has it been delivered because the seller never owned the underlying asset;
these “for every seller, there is a buyer” bloggers, they should also mock the economists at the NY Fed who took issue with the naked shorting of US treasuries that happened: http://ipsnews.net/news.asp?idnews=45472
Captured regulators.
Crime.
Nothing to see here, move along citizen.