Thursday, March 3, 2011

New York Times: The Silver Conspiracy

As Americans know all too well by this point, commodity prices — for corn, wheat, soybeans, crude oil, gold and even farmland — have been going through the roof for what seems like forever. There are many causes, primarily supply and demand pressures driven by fears about the unrest in the Middle East, the rise of consumerism in China and India, and the Fed’s $600 billion campaign to increase the money supply.
Nonetheless, how to explain the price of silver? In the past six months, the value of the precious metal has increased nearly 80 percent, to more than $34 an ounce from around $19 an ounce. In the last month alone, its price has increased nearly 23 percent. This kind of price action in the silver market is reminiscent of the fortune-busting, roller-coaster ride enjoyed by the Hunt Brothers, Nelson Bunker and William Herbert, back in 1970s and early 1980s when they tried unsuccessfully to corner the market. When the Hunts started buying silver in 1973, the price of the metal was $1.95 an ounce. By early 1980, the brothers had driven the price up to $54 an ounce before the Federal Reserve intervened, changed the rules on speculative silver investments and the price plunged. The brothers later declared bankruptcy.
Accusations that JPMorganChase and HSBC allegedly manipulated precious metal markets are worth looking into.
The Hunts may be gone from the market, but there are still plenty of people suspicious about the trading in silver, and now they have the Web to explore and to expand their conspiracy narratives. This time around — according to bloggers and commenters on sites with names like Silverseek, 321Gold and Seeking Alpha — silver shot up in price after a whistleblower exposed an alleged conspiracy to keep the price artificially low despite the inflationary pressure of the Fed’s cheap money policy.
More Here..

4 comments:

  1. Yes this is why China has been buying Gold and recommending their people buy Silver and Gold. All because of a conspiracy? Maybe the real conspiracy is the fraud of the Federal Reserve that prints the USA dollar out of thin air and charges the USA citizens interest and causes inflation in the USA and rest of the world ... oh that is not conspiracy but FACT.

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  2. US$/ozt Silver Gold Gold/Silver Ratio
    ratio
    1840 1.29 20 15.5
    1900 0.64 20 31.9
    1920 0.65 20 31.6
    1940 0.34 33 97.3
    1960 0.91 35 38.6
    1970 1.63 35 22.0
    1980 16.39 612 37.4
    1990 4.06 383 94.3
    2000 4.95 279 56.4
    2005 7.31 444 60.8
    2009 14.67 972 66.3
    2010 20.19 1225 60.7
    2011(28th Feb)33.49 1411 42.1

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  3. It is the jewish bankers and jewish financiers that are doing this and they know it

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  4. Conspiracy in silver? That's like questioning is the Pacific ocean wet. www.silverstealers.net

    ReplyDelete

Everyone is encouraged to participate with civilized comments.