Silver Slammed + Reasons to Keep the Faith

 

 

Silver got slammed over the last couple of days.  From almost 19 back down to 17.50

 

And all of this is happening just when Ted Butler and Jim Rickards and Eric King are all excited about the Department of Justice investigation into JP Morgan’s obvious silver manipulation with paper shorts.

 

When will the short squeeze come and put silver properly into the low hundreds?  Or at least 100?

 

Keeping the faith in the market can be difficult with all the manipulation going on.  But we can all rest with the knowledge that all things come to an end eventually.  All empires, all manipulations, all things both good and bad have an end.  The end to the silver manipulation and the end of cheap petroleum derived “stuff” and the end of fiat currency holding value during our current times of excessive printing (quantitative easing).

 

See the interesting Jim Rickard’s interview on CNBC ripped from Eric King’s blog just now.

 

I like how he puts the talking heads in their place, the big dummies.  Always the same with those guys.

 

Keep the faith, Cheers,

Tate

 

 

 

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CNBC Questions Rickards on Possible DOJ Investigation of JP Morgan in Silver Market

 

Eric King: CNBC’s Joe Kernen: “Jim, some of the craziest viewers I know send me stuff that I think is from you. I’m just wondering if it’s the same Jim Rickards? Are you a conspiracy theorist on silver manipulation, that it’s being controlled by JP Morgan?”

May 5, 2010

Jim Rickards: “I’m not a conspiracy theorist. I gave an interview; I was asked to respond specifically.  I’m a lawyer also, and I was shown correspondence from the Justice Department, the Anti-Trust Division of the Justice Department, to someone who wrote in inquiring... My comment was that it was an unusual communication because the Justice Department specifically named J.P. Morgan.  Instead of saying, ‘Thanks for your letter.’  They said, ‘We’re looking into the J.P. Morgan alleged actions.’  And they went on to say,  ‘We are not going to refer to the CFTC.  We’re going to look into it ourselves.’ I thought both of those things were unusual.”

 

Joe Kernen: “So you’re not necessarily saying that gold and silver would be 1,000 times higher if free market forces...?” 

Jim Rickards: “No, I am saying, ‘Ten times.’  I am saying, ‘Gold will get to $5,000.’  It’s 8th grade math. Just look at the amount of gold and the amount of paper money; do the division.  That’s where gold has to get to.”

 

On CNBC today Jim Rickards referred to his King World News interview covering this subject in more detail CLICK HERE.

 

Breaking news about a possible DOJ investigation of JP Morgan silver market manipulation was brought to King World News by Ted Butler. To hear his interview CLICK HERE.