Bix Weir – The action in the price of silver on April 27th was very predictable. Ted Butler has pointed to the very favorable change in the Commitment of Trader reports from the COMEX showing that the commercial traders (ie the riggers) have significantly covered their short positions and are ready to allow the market to move up. Yes – it’s all run off computer programs and it’s all done to both control the price and allow them to make vast amounts of money going up and going down.
The big question now is: “Will the commercials, like JP Morgan, short on the way up to cap any significant silver price rises?” That alone will determine how high the price of silver will go from here and whether or not they maintain control.
I’d give it a 50/50 chance of breaking to new highs in the next few months since JP Morgan holds the lowest short position they have held in years and a massively long physical position according to Ted.
And there may be something else going on here.
On May 1, 2011 the price of silver was artificially slammed down as it approached $50/oz with more force and violence than ever witnessed in a commodity. This was on NO NEWS and left recent buyers of silver regretting their decisions. To date, four years later, the price has continued to be artificially depressed to such a degree that all positive sentiment has been extracted from silver.
Most who follow the silver markets know the story but, as far as I have read, very few silver analysts understood HOW it was done and WHO were the culprits. I published an article about a month after the slam outlining how because JP Morgan was forced to take on the Bear Stearns’ silver short position (thanks again to Ted Butler’s research!) they needed a way out. I showed how JP Morgan was able to place their top market rigging executive, William Daley, into the White House as Obama’s Chief of Staff in order to officially orchestrate a raise the price of silver from around $28/oz to $49/oz in a matter of 4 months. By doing this they lured unsuspecting silver buyers in and on May 1, 2011 they unleashed the slam using electronic sell orders to start a selling avalanche. This has continued ever sense and now JP Morgan has covered a majority of it’s COMEX silver short. By January 2012 the price of silver was brought back down to $28/oz and William Daley resigned – a job well done for the criminals.
I outlined it all here: JP Morgan: Operation Silver Slam http://www.roadtoroota.com/
So here we sit 4 years later and this coming Friday marks the 4th anniversary of the “Silver Drive-By-Shooting” as we like to call it. Oh what a difference four years makes. No longer does JP Morgan hold the largest short position in silver but rather they hold the LARGEST PHYSICAL SILVER LONG POSITION IN HISTORY!
You can make your own call if we will see some fireworks on May 1st but if there are any – my guess is they will benefit JP Morgan and their market rigging buddies.
Stay strong my friends…the end of this mess will come one way or the other.
May the Road you choose be the Right Road.
Bix Weir
SF Source www.RoadtoRoota.com April 2015