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swear
this is NOT an April Fool's joke. But maybe this is a long standing
joke on the American people, ever since 1975.
The
Plaque reads:
THE MISSION OF THE
CFTC
IS TO PROTECT MARKET
USERS AND THE PUBLIC
FROM FRAUD,
MANIPULATION, AND ABUSIVE
PRACTICES RELATED TO THE
SALE OF COMMODITY
FUTURES AND OPTIONS, AND
TO FOSTER OPEN,
COMPETITIVE, AND
FINANCIALLY SOUND
COMMODITY FUTURES AND
OPTION MARKETS
CFTC, obey your plaque!
When the open interest in silver futures contracts exceeds
800 million oz., and when the silver on deposit for delivery is a
mere 50 million oz., it does not take a genius to figure out that
something is out of balance. That's only a 6% backing!
When the London OTC market trades in excess of 125 million oz. of silver per
day, and only has 75 million oz. of physical in the vaults, again,
it does not take a genius to figure out that something is out of
balance there, too. The BIS notes that the OTC "over the
counter" other precious metals derivatives exceed $200 billion, which is
about 12 billion oz. of silver, or almost 24 years worth of mine supply, and
160 times the 75 million oz. they have left!
It should not take any hearings or investigations. But the
investigations serve the purpose of revealing the numbers to CFTC
commissioners who may not otherwise know.
The London fraud is easier to understand, even though it is
bigger. Why? In Europe, there is the VAT, and on silver,
it's about 17% if you take your silver out of the banks, and take
delivery. Therefore, most people leave it with the banks. But
there is no "it", no silver.
YES, THIS IS THE WORLD'S BIGGEST FRAUD! BIGGER THAN EVERY OTHER FRAUD,
EVER! PERHAPS BIGGER THAN ALL OTHER MONETARY FRAUDS IN THE HISTORY OF
THE WORLD, COMBINED!
The world's gold market is like a Ponzi scheme, or bucket shop. Around
100 years ago, there were brokerage houses (bucket shops) that let you
buy stocks, and they would give you a receipt, but they would not buy
the stock, they would simply buy back your receipt if the stock went
up, and if you cashed in your receipt. Two big "ifs".
Jesse Livermore wrote about the bucket shops in his famous book,
"Reminiscences of a Stock Operator".
http://www.amazon.fr/gp/product/0471770884?ie=UTF8&tag=24hgold-21&linkCode=as2&camp=1642&creative=6746&creativeASIN=0471770884
The government eventually put the bucket shops all out of business,
because they were all fraud. (Also, the government banks don't like
competition.)
Jesse notes that the bucket shop trading was different than a real
market, as you would not move the market price of stocks you bought or sold,
and so, you could buy the stocks cheaper, not paying such large commissions,
and also, not moving the market price up against yourself as you were buying.
Same thing in the gold and silver markets. The big brokerage houses
promise silver at lower commissions, but only if you don't ask for
delivery.
The gold and silver markets are no different than a bucket shop, it's
cheaper, but if you don't take delivery, your silver does not exist.
=====
I can see the questions now. "Jason, I have allocated gold, or
silver, not unallocated, isn't that safe?" But why would
you trust a bankrupt entity, known for doing fraud and theft as a regular
method of business, to hold your silver and gold for you?
There is no kind of gold or silver that is more vulnerable to a recall, or
government confiscation order.
Letting your bank store your silver or gold is easy. But that's the
trouble with easy. It's also easier to confiscate.
Many people ask me about confiscation. Here's my essay I send out
on the topic:
http://silverstockreport.com/2008/confiscation.html
=====
I was stunned when I saw this plaque at the CFTC building at the entrance to
their meeting room. Stunned. I laughed! I have long
suspected that the CFTC is complicit, and in on the manipulation.
However, the CFTC is basically a panel of 5 people, appointed
directly by the President of the United States. And, it is a
legacy bureaucracy filled with who knows how many people working as
support staff.
So, while prior commissioners may have been "in on it" as they have
willfully and deliberately lied in past reports the denied manipulation in
the silver market, several current CFTC panel members have been there for
about one year or less. They may truly be ignorant of the manipulation,
and may, indeed, have a desire to end it.
Again, please send your constructive comments with specific and creative
ideas on how to end the manipulation, to the CFTC, by mail, fax, and email:
Written materials should be mailed to the Commodity Futures Trading
Commission, Three Lafayette Center, 1155 21st Street, N.W., Washington, DC,
20581, attention Office of the Secretariat; transmitted by facsimile at
202-418-5521; or transmitted electronically to metalshearing@cftc.gov.
Reference should be made to �metals position limits.�
=====
GATA seems stunned by the admissions of Jeff Christian at the CFTC hearing,
where Jeff admitted that the leverage of paper gold to physical gold is
over 100 to 1 in the London Market. Listen as they explain:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/31_GATA_files/GATA%203%3A31%3A2010.mp3
I was not stunned by that, because I've read the CPM Group's reports, and
I've read the BIS reports, and I've been mentioning the BIS report for nearly
a year now, since April 6th, 2009.
BIS Admits $190 Billion Silver Fraud
http://silverstockreport.com/2009/OTC-silver-fraud.html.
I don't know why a verbal admission by an idiot has more
weight than the written reports of the BIS, but there it is.
More stunning than the plaque is the BIS report. It puts the fraud in
writing! See the OTC "other precious metals" derivative
obligations at $203
billion!
http://www.bis.org/statistics/otcder/dt21c22a.pdf
Second table, towards the bottom, middle of the page.
Heading is "Notional Amounts Outstanding"
Column: Jun 2009
Row on left, "Other Precious Metals"
It's right there, black and white, full admission, by PEOPLE IN POWER, the
BANK OF INTERNATIONAL SETTLEMENTS. This is not a secret.
It should be daily front page business news, but the report only comes
out once every 6 months. Also, if the media don't know where to look,
and if they never learned how to read a chart, then what chance is there of
coverage? At least the CFTC hearings put this on center
stage from many who were in denial.
=====
But I have to wonder, how strong is the spiritual darkness that prevents
people from seeing? Why is silver not $25/oz. by today already?
It should be $50/oz. by the end of next week!
Why are people not waking up to this fraud? Why are big money people so
complacent? Why are they not able to do the math, and see that $203
billion / $17/oz. = 12 billion ounces, which is 24 times world annual
production of 500 million ounces, and 160 times more than the 75
million ounces they have to back it up in London?
Don't investors
know that it's a race to see who gets physical first?
He who takes delivery first is no fool, but will become master
of the financial universe!
Don't people realize that demand is already 160 times greater than the market
can clear? Don't people know what that means to the price, going
forward, once people, 1 in 160 silver investors, ask for delivery?
=========
I strongly advise you to get real
gold and silver, at anywhere near today's prices, while you still can.
Price
Board:
http://jhmint.com/cgi-bin/ssrbidask
Our Coin Shops are open 10AM to 5PM Pacific, Monday to Friday
100 oz. silver minimum, USA shipping, wire transfer only!
Janelle (530) 913 0553 silver_support1@vzw.blackberry.net
JH MINT & Coin Shop, Grass Valley, CA
(530) 273-8175
http://www.jhmint.com/
Rocklin Coin Shop,
CA, 15 min north of Sacramento
http://rocklincoinshop.com/
Or visit www.momsilvershop.com
(Mom will ship in
lots of more or less
than 100 ounces of silver, and overseas, and take credit cards or pay
pal.)
Sincerely,
Jason Hommel
www.find-your-local-coin-shop.com
www.silverstockreport.com
www.miningpedia.com
www.bibleprophesy.org
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