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Jamie Diamon & The Perfect Silver Heist

Posted: Sat May 02, 2015 4:40 am
by Wade Hampton III
Ted Butler posted...

A couple of weeks ago, a long time subscriber correctly pointed out that
I seemed to be speculating more than usual in my conclusion that JPMorgan
was the big buyer of Silver Eagles and had accumulated as many as 300 million
oz of silver, including Eagles and bullion. The subscriber noted that I
usually relied on hard core facts that could be documented and not on
speculation. As it turns out, I believe there are sufficient number of
hard facts behind my speculation, but I had failed to point them out.
So let me present the facts, as I see them, that point to JPMorgan
having amassed the largest physical silver position in history.

First, let me set out what I am suggesting concerning JPMorgan and silver.
I’m not suggesting I knew all the facts as they were developing, but I
came to see them only afterward with the benefit of hindsight. The facts
show that JPMorgan took over Bear Stearns and its concentrated short
position in COMEX silver (and gold) in March 2008 when silver was
close to $21, the highest level to that point in 28 years. The price
of silver fell from that level in an irregular pattern until late
2010, while JPMorgan both decreased (bought back) much of its
concentrated short position on sharp price declines and increased
its short COMEX silver short position on rallies, as I publicly
chronicled all along. At times, JPMorgan’s COMEX net short position
exceeded 40,000 contracts or the equivalent of 200 million oz. Such
a large concentrated position necessarily controlled the price of
silver and was, in fact, manipulative on its face.

Because it controlled the price of silver, JPMorgan profited handsomely
on its COMEX manipulation thru 2010 and not even an ongoing five year
CFTC investigation interfered with JPM’s control on silver prices. However,
in late 2010, investor demand for physical silver caused silver prices to
break above the highs of early 2008 and JPMorgan could no longer control
the price of silver through excessive paper short selling on the COMEX.
Physical silver conditions tightened so much by the end of April 2011
that the price reached nearly $50 and, quite literally, JPMorgan (along
with other collusive CME traders) were staring into a financial catastrophe,
the same as undid Bear Stearns three years earlier.

But no bailout of JPMorgan was possible in April 2011 and instead, the bank
along with interested parties at the CME Group arranged for a disorderly
takedown of silver prices, almost assuredly with the approval of US regulatory
officials. The disorderly takedown proved successful and the big shorts,
particularly JPMorgan, escaped what would have been an epic financial
catastrophe had they been forced to cover their massive silver short positions.

It is said that one learns more from failure, especially near disaster, than
from success. It is my belief that at the time of JPMorgan’s near catastrophe
in being short silver into April 2011 that the bank realized just how limited
and critical the supply of silver in the world was and decided to use their
near death experience to their advantage. It was at that time that the bank
decided to buy as much physical silver as it could in order to profit even
more to the upside than it did previously to the downside. Again, it was not
possible for me to know this at that time and it has only come to me with the
fullness of time and the developing factual evidence. What evidence?

For starters, there is the matter of extraordinary sales of Silver Eagles from
the US Mint. Since April 2011, the US Mint has produced and sold 140 million
Silver Eagles, more than in any similar period of time, in a price environment
that can only be termed putrid and in which sales of Gold Eagles were notably
lower. I would estimate that JPMorgan purchased close to half of the 140 million

Silver Eagles sold since April 2011. According to very reliable sources on the
retail front, general investment demand has been lower over this time, as
retail buyers do not buy strongly into a declining price environment in any
investment asset. Yet we know for a fact that there has been extraordinary
buying of Silver Eagles, even while Gold Eagle sales cooled off notably,
so someone had to be buying Silver Eagles.

If there is one thing that JPMorgan is expert at, given that it commands an
army of lobbyists and has more government officials in its back pocket than
any other entity on the face of the earth, it is the exploitation of US law
and regulations. JPMorgan knew that US law dictated that the Mint must produce
enough Silver (and Gold) Eagles to meet demand. That law was never intended
to allow a single big buyer to demand the extraordinary amount of Silver
Eagles that JPMorgan desired to buy, but that’s the purpose behind the
exploitation of the law.

The Mint sells Silver Eagles at the prevailing price of silver on the day of
the sale. In essence, the COMEX price of silver is the price of silver. By
controlling the price of COMEX silver, JPMorgan sets the price at which it
will buy Silver Eagles. It’s the perfect crime - JPMorgan sets the price of
COMEX silver and then demands as many coins as the Mint and its suppliers
can produce, even if that means producing the coins on a 24/7 basis. Hey, that’s
the law. And remember when JPMorgan increased its COMEX short position in the
summer, assuring that prices were about to drop and what occurred as a result?
Sales of Silver Eagles nosedived temporarily and only resumed after prices
were brought lower by this crooked bank. This is old stuff – what about some
additional evidence that JPMorgan has amassed a massive quantity of physical

When JPMorgan took over Bear Stearns in 2008, its Manhattan precious metals
warehouse was not operating. But in May 2011, after the decision was made
to accumulate physical silver, the warehouse was activated as a working COMEX-
approved silver facility and guess what - after starting with zero silver
inventory that warehouse has grown to nearly 50 million oz, the largest of
all six COMEX warehouses. You can decide if this was just a coincidence
but the most compelling reason to start a warehouse would be to store silver
you owned in your own warehouse rather than to pay some other warehouse to
store metal you own. The timeline, in any regard, is remarkable.

In 2012, as the custodian for the metal held in the big silver ETF, SLV,
JPMorgan physically transferred 100 million oz of silver it was storing in
one of its own London warehouses on behalf of the trust to Brinks as a sub
custodian. In hindsight, the most plausible explanation was to make room for
silver JPM would come to purchase by using the SLV as a means of acquiring
physical silver on an undetected and unreported basis as I have been explaining
continuously (avoiding the SEC’s 5% share ownership reporting requirement).
I believe much more than 100 million oz of silver, perhaps double or triple
that amount have been accumulated by JPMorgan using the SLV to transfer metal
to its own London warehouses completely undetected and unreported. The details
of the London Warehouse transfer can be found here.

Then there is the matter of the unprecedented physical turnover in the COMEX
warehouses. As I have detailed on these pages, this unusual turnover began
in April 2011 and not in 2008 when JPMorgan first became the COMEX kingpin
and manipulator by virtue of the Bear Stearns takeover. This timeline further
supports the decision of JPMorgan to begin acquiring physical silver after
its near death experience in April 2011. With so much physical silver flowing
into and out from the COMEX warehouses weekly, it would be easy for a big buyer
to regularly skim off a continuous share of that physical flow. And this is
in complete harmony with my conclusion that the unprecedented COMEX warehouse
turnover is to due to tight conditions in that the tight conditions are mainly
due to JPMorgan’s accumulation of physical silver.

Back in the late 1970’s the Hunt Brothers accumulated close to 100 million oz
of physical silver (and more in futures contracts) and were found to have
manipulated the price of silver higher as a result of that accumulation.
What makes the much larger accumulation of physical silver by JPMorgan today
different is that it is the perfect crime.

The Hunts were outsiders; JPMorgan is the ultimate insider. The Hunts ran
afoul of the regulators; JPMorgan owns the regulators. The Hunts’ purchases
were widely known; as far as I know, I’m the only one pointing to JPMorgan
accumulating massive amounts of physical silver. The Hunts drove prices higher
as they accumulated silver; JPMorgan, by virtue of its price control on the
COMEX, has been able to accumulate silver on sharply declining prices. Talk
about a stacked deck.

Given that JPMorgan has such control over the US regulators and is able
to operate in near total secrecy in matters related to physical silver,
it’s hard for me to imagine what could foil their perfect silver crime.
All that’s missing is JPM selling out at extremely high silver prices.
And considering that big banks, in essence, don’t have to report anything
they don’t want to publicly report, I would be surprised if JPMorgan would
even have to pay taxes if they made the many billions of dollars they
seemed destined to make on silver to the upside.

Yes, it is true that I am speculating about JPMorgan and physical silver
and that much of this is based upon analysis after the fact; but it was
not possible for anyone to predict this in advance without practicing
voodoo or communicating with the spirits. As for the evidence surrounding
JPMorgan’s decision to accumulate physical silver, I guess you have to
believe that all the circumstances revolving around April 2011 were
completely coincidental to avoid making the connection.

As always, I can’t give you the exact timeline for the future. If there
is much more additional physical silver for JPMorgan to accumulate at
lower prices, I’m sure this crooked bank will arrange for those lower
prices. But after no more additional silver is available on the cheap,
it should be time for JPM to allow prices to climb. One more point -
since JPMorgan has been accumulating silver for more than 3.5 years,
its average price is considerably north of current prices. Back of
the envelope calculations indicate an average price in the mid-$20’s
and any profit to the bank would only accrue above those levels. Yes,
it grates on me that JPMorgan has been able to illegally accumulate as
much silver as I suspect and, most particularly, the manner in which
that silver was accumulated; but at some point the accumulation should
prove most beneficial to silver investors.

Re: Postscript

Posted: Mon May 04, 2015 3:41 am
by Wade Hampton III
Perhaps or not, someone may have noted JPMorgan's chief swindler-in-charge is
spelled "D-I-M-O-N." No matter. I believe this person is a Gentile...however...for
all practical intents and purposes, he may as well be a Jew. Hence, I will maintain
the banner header as is common practice among the Yids to name themselves after
financial assets, such as "Mr. Gold" or "Mr. Silver" as in "Larry Silverstein" of WTC
fame. It is all in the DNA, and nothing will change that.
Mr. Dimon.jpg
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Re: USofA Out Of Silver

Posted: Thu Jul 09, 2015 7:04 am
by Wade Hampton III
The United States Mint temporarily suspended sales of its popular American Eagle silver bullion coins.
Low prices, especially when the fundamentals imply undervalue, spur buying. Silver prices have sunk
to new lows for 2015 even though there is increased global industrial demand for the precious metal.
One ounce of silver fell to as low as $14.65 before slightly recovering. ... z3fOE8J38k

The price of something is dropping, while the supply of that something is doing the same thing? Am
I missing something here?


Re: USofA Out Of Silver

Posted: Thu Jul 09, 2015 12:40 pm
by Will Williams
Wade Hampton III wrote:The United States Mint temporarily suspended sales of its popular American Eagle silver bullion coins.
Low prices, especially when the fundamentals imply undervalue, spur buying. Silver prices have sunk
to new lows for 2015 even though there is increased global industrial demand for the precious metal.
One ounce of silver fell to as low as $14.65 before slightly recovering. ... z3fOE8J38k

The price of something is dropping, while the supply of that something is doing the same thing? Am
I missing something here?

No, it's a good time to buy physical silver when it's value is low like that, except that there's none to buy. :lol:

Re: Postscript

Posted: Fri Jul 10, 2015 2:35 pm
by Will Williams
Wade Hampton III wrote:Perhaps or not, someone may have noted JPMorgan's chief swindler-in-charge is
spelled "D-I-M-O-N." No matter. I believe this person is a Gentile...however...for
all practical intents and purposes, he may as well be a Jew...
According to Wiki Jamie Diamon is Greek (religion: Orthodox) though his father and grandfather worked for the Jew Edward Shearson. Jamie married Jewess Judith Kent and their three kids are eligible for Israeli citizenship through Aliya, so, yes, for all intents and purposes...

J.P. Morgan was goy front for the Rothschild bankers.

Re: Jamie Diamon & The Perfect Silver Heist

Posted: Fri Jul 10, 2015 3:04 pm
by Wade Hampton III
From Kitco news...

After suggesting there was collusive behavior in the gold
market in a draft research paper that made headlines,
economist and professor, Rosa Abrantes-Metz is shifting
her focus to silver. Metz, an adjunct professor at NYU’s
Stern School of Business, burst onto the precious metals
scene after she published a research paper examining how
the former London gold fix may have been manipulated for
a decade by the banks setting it. Metz had found unusual
trading patterns around 3 p.m. in London, when the afternoon
gold fix was set during a private conference call between
five of the biggest gold dealers. The fix has since disappeared,
replaced in March with a transparent electronic auction process.
Silver also received a new benchmark in August 2014 - the new
London Silver Price - which has third party administrators CME
Group and Thomson Reuters handling the governance. The end of
the silver fix was initially caused by the withdrawal of
Deutsche Bank, which ran the benchmark with HSBC and Bank
of Nova Scotia. Metz said the new electronic benchmark is
a step in the right direction with more transparency but
it can’t prevent manipulation from happening. ... rices.html
Eye Candy
Eye Candy
daniela-cambone.JPG (21.35 KiB) Viewed 4660 times
Daniela Cambone is the Editor-in-Chief for Kitco News.
With over a decade of international experience, Daniela
covers prominent industry events and interviews a number
of leading analysts, financiers and political leaders
for Kitco News. She began her career covering the Canadian
financial landscape and later worked in Europe for four
years, reporting on the political and financial scene
for the International television station, Press TV.
Daniela holds a BA in Broadcast Journalism and an MA
in Journalism & Communications.

Don't patronize Kitco

Posted: Fri Jul 10, 2015 6:03 pm
by Will Williams
Wade Hampton III wrote:From Kitco news...

Daniela Cambone is the Editor-in-Chief for Kitco News.
With over a decade of international experience...
Miss "Eye Candy" and Kitco don't like criticism of queers marrying one another. If buyers of precious metals who are opposed to queers marrying would like to discuss this matter with her in further detail, Ms. Cambone's phone number is below.

Subject: commentary
Date: Thu, 16 Apr 2009 12:35:50 -0400

Dear Mr. Katz,

We have run into quite a few complaints with your latest article. It seems that when our readers clicked the link to your website, they found a blog against homosexual marriages. This has insulted many people. We at Kitco realize that your commentary did not make reference to this fact but we cannot be associated with individuals who share these viewpoints.

You are a longtime contributor to Kitco and we appreciate your commentaries. Unfortunately, we cannot publish commentator’s who have points-of-views that are offensive to readers.

If you would like to discuss this matter in further detail, please feel free to call me.


Daniela Cambone
Content Specialist
Marketing Department

Kitco Metals Inc.
Direct Line: (514) 670-1317
Cell: (514) 928-5820

Fax: (514) 875-2579

Note: Katz had simply voiced opposition to "gay" marriage on his blog.

Re: Don't patronize Kitco

Posted: Fri Jul 10, 2015 7:43 pm
by Wade Hampton III
Will Williams wrote:Miss "Eye Candy" and Kitco don't like criticism of queers marrying one another.
The Chinese have said, "May you live in interesting times." They intended it not as a blessing,
but as a curse. Their arrow has run true. For the life of me, I could have never even imagined
there would be an association with precious metals and deviant sexual behavior.


Re: Jamie Diamon & The Perfect Silver Heist

Posted: Sun Jul 19, 2015 6:31 pm
by Wade Hampton III
Blood & Sharks!

Paper prices for precious metals can only fall so low before
physical shortages emerge. We seem to be at or near an
inflection point in these markets, as spot prices continue
to remain below all-in production costs, especially for silver,
and brisk demand for silver coins, bars, and rounds overwhelms
inventories at the U.S. Mint and many bullion dealers. That’s
not to say that technical futures traders can’t push prices
even lower on a temporary basis. The shorts smell blood in
the water and would love to take out support levels in order
to inflict more pain on longs. ... ght-000738
Smell$ Blood!
Smell$ Blood!
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Re: Jamie Diamon & The Perfect Silver Heist

Posted: Tue Jul 21, 2015 6:10 pm
by Wade Hampton III
In The Works!

Keith Fitz-Gerald posted...

The official story is that raw materials are losing their
luster in recent weeks amidst signals from the Fed that
it's going to raise rates.

Wade says, "Impossible, because if they do that, just the
interest in the national debt will be worth a full year
of GDP! Not even enough left over to fund the 'Holocaust
Museum' in Washington DC!"

The theory is that higher borrowing costs reduce the
incentive to buy commodities by making them less attractive
versus interest bearing instruments like bonds and equities
that pay dividends because of the lost opportunity cost.
That makes sense but, as usual, it's not the whole story:
bear-attack.JPG (30.66 KiB) Viewed 4533 times
For that you've got to look east to China where traders
staged a classic "bear raid" Monday night to capitalize
on low liquidity conditions created while Japanese markets
were closed for Umi no hi, or Ocean Day, in Japan, a
national holiday. Now, a bear raid is a highly technical
tactic often used by large institutional traders. The goal
is to create windfall profits though short sales and futures
contracts. If it works, the targeted stock, bond, currency,
or - in this case - commodity plunges, allowing the short
sellers to buy back shares they've borrowed and sold earlier
at a huge discount. Typically, the sellers work together to
establish a massive sale that overwhelms buyers and inflicts
huge losses on anybody who's long. In this case, traders took
advantage of the fact that Japan's markets were closed for a
national holiday. They knew full well that, absent their money,
there were even fewer buyers than usual to mount a defense.

And what a move it was! More than 3 million lots traded on
the Shanghai Gold Exchange; a normal day is less than 30,000
lots by comparison. Anybody who tried to hang on got clobbered!
As for what's next... that's the interesting part. Traders
took prices below $1,130 which was previously regarded as
solid support. This strongly suggests that there's more
selling to come. So, far from being a one-day crash, this
could represent one of the best precious-metal-buying
opportunities of the year!

Wade concludes, "Hang in there, White people!"
Needs $
Needs $
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