Someone calls JP Morgan's silver bet
Feb 27, 2012
Silver Doctor is reporting a very interesting event that appears to have occurred last Friday.
The price of silver, you recall, went up nearly to to $50/oz. last April before the government changed the rules and imposed higher margin requirements in purchasing silver. This restricted purchases and immediately had the desired effect of forcing silver prices to drop nearly in half.
Prices fluttered between $28 and $32 in the past few months. Now the price is over $35, as it began to soar last week.
On Friday the cartels tried once again to drive down the price of silver. They dumped huge paper silver contracts into the market all within a 7-minute period. Charts went wild as they dumped over 100 million ounces of silver contracts, pretending that they actually had that much silver to sell.
They have done this trick over and over again for many years, and each time, they have succeeded in artificially driving down the price. But someone was ready for them this time. Someone was ready to buy up what they were selling, and after the dust settled, the price continued to rise!
It looks like someone is finally calling JP Morgan's bluff. Asians, perhaps? The Silver Doctor seems to think so.
It is my personal belief that because silver is the metal of the Medo-Persian Empire's "arms of silver" (Dan. 2:32), we will see its rise when the modern Kings of the East overthrow the Babylonian head of gold. It seems to me that when silver hits $50/oz. it will signal the point where the Kings of the East have actually overthrown the head of gold.
Last April the price of silver rose to $49.84 on Monday, April 25, 2011 before collapsing before the onslaught of Babylon's new emergency regulations that were imposed on April 27. We came within a gnat's whisker of the collapse of an empire. Babylon lived to fight again another day.
Perhaps that day has again arrived. This time, however, it appears that the kings of the east were prepared, having their money poised and their fingers on the computer's trading button labeled "enter." Those decisions had to have been made earlier, as they were able to immediately purchase everything that JP Morgan had to offer.
When a major commercial bank like JP Morgan shorts the market, they issue contracts to sell silver at the current price, believing that the price will go down before the contracts expire. Most contracts are simply settled when the losing party pays the difference to the winner of the bet. Those shorting the markets do their best to bring the silver price as low as possible, so that they make the most money fleecing those who dared to bet against them.
Those 7 minutes may be prophesying a whole new ballgame.
Dr. Stephen Jones