Friday, January 28, 2011

'Crash JP Morgan, Buy Silver' Update!!

Max and Minimax

Zany madcap financial commentator Max Keiser has an unparalleled track record of economic and geopolitical forecasting. So much so that the BBC gave him his own show called 'The Oracle'

Max's portfolio of uncanny predictions and empowering analytical insights include...

  • prophesying that the Euro was shortly to become the world's reserve currency, a couple of months before it went tits up
  • declaring his support for US Presidential candidate Barack Obama on the basis that there was a very good chance Obama would bring about 'change'
  • predicting that the US Comex gold and silver exchange would default catastrophically in 2008, which it clearly did, without anyone noticing

The man is a soothsaying sensation, though it's not immediately clear if he is simply a brilliant analyst, gifted with superhuman psychic abilities, or whether the Universe actually submissively conforms to His Will

From the moment Keiser started his '
Buy Silver, Crash JP Morgan' campaign a couple of months back I've been watching global silver prices like a hawk

Komment Macht Frei - all my favourite people, and ideas, in one handy place

Keiser's plan was simplicity itself. JP Morgan has (allegedly) been driving the price of silver down by selling billions of dollars of silver it didn't actually possess. If enough people were to call JP Morgan's bluff, buy physical silver and drive the price up, JP Morgan's positions would collapse and the price of silver would skyrocket - destroying an evil bank and enriching those who killed it in the same act

A brilliant plan. Of course, if JP Morgan were to ever implode the resulting costs and losses (plus a dollop extra) would simply be assumed in all our names by government. But, nevertheless, a really, really brilliant plan

So, how's it doing? How much money have the legions of junior league silver bugs who have followed Max's call to 'Buy Silver, Crash JP Morgan' made so far?

Yup, The Oracle is still truly at the peak of his powers

Actually, anyone who joined the 'Buy Silver, Crash Morgan' campaign would have potentially enjoyed an even bigger (negative) return than -10.48% over the last 30 days

Silver coins, even those without a collectable value, sell for a mark-up of 15% or more over the scrap value of their silver content. Max presumably knows all about the excellent mark-ups in the bullion biz, as his site is, coincidentally, sponsored by bullion dealers

On top of the dealer's margin, if you buy a silver coin in Europe it is liable for VAT of, typically, 20%

So, if you bought a 1oz silver coin for something like £24 a month ago, it is now worth a shade under £17 today. Your £7 loss being shared out amongst the bullion dealer, the government's creditors, and speculators like JP Morgan


And, yes, the fiat price of silver, and most other needful things which can't be printed into existence, will very possibly rise ahead of wages and interest on savings but timing, as they say, is everything

In the meantime, as fundamentally worthless as fiat currency is, the Max Keisers and JP Morgans of this world will still sell their grannies for a pot of it

Or, as a fellow conspiranaut said "If you want to put your hand in our pocket Max, give our nuts a scratch while you're at it...." .



paul said...

...and poor old JP Morgan's share price has crashed upwards by about 10% since then

craggy said...

Love it Stef.

"The man is a soothsaying sensation, though it's not immediately clear if he is simply a brilliant analyst, gifted with superhuman psychic abilities, or whether the Universe actually submissively conforms to His Will."

:) :) :)

the other paul said...

love the crossed out words :)

会社設立 said...


Sophia said...

Hi Stef,

I think you have to add a new conspiraloon to the alliance:

Sophia said...

And here is another one:

Anonymous said...

I'd rather buy a water filter than ingest feminising chemicals. See:

Anyway, as for the economy: it's simple. Implement LVT plus perhaps broadcast tax, and dividend economics (tied to actual production, not speculating).

Finally, dispose of counter-productive regulation (like occupational licensing) while retaining genuinely useful regulation (eg the Sherman Anti-Trust act).

Of course, British homeowners and other vested interests would actually have to *gasp* work instead of inflate real estate values.

Stef said...

I certainly do acknowledge Max 's creativity

Silver, along with virtually anything denominated in bullshit paper money, has indeed powered to new heights

A possibility which, fuck me sideways, I actually acknowledge in my post

But, strangely enough, JP Morgan still hasn't crashed

Funny that

Still, Make Keiser richer Buy Silver doesn't have quite the same ring to it does it?

Golden Silver Stone said...

Agree, we must support this campaign.

Buy silver crash JP Morgan