Wednesday, June 1, 2011

Turd says it best

11:43 am (Hawaii) Turd Ferguson's update includes a repost of his prior rant against the CTFC and their inaction against the puppet masters. Thing is, the CTFC might be the very ones pulling strings. In any event, Spot Silver close to 35 gets really appealing from a physical standpoint.

The Criminal Evil Empire has chosen to once again raid the metals on the afterhours, thinly-traded Globex. Using a weakening equity market as cover, The Cartel sent out the monkeys and successfully clipped $1.20 off of the price of silver in just 13 minutes. They even managed to turn gold negative for a few minutes, effectively wiping out all $16 of hard-fought pit gains. 

At some point, Asia and London will buy up Spot Silver cheap. What's "cheap"? Maybe 34-35. Maybe here at 36-37. But it won't go down forever, as Turd said, with everything coming down the pike for silver delivery this month. Or will it?

Turd: Where are you, Bart Chilton? (June 1 2011)
More here: Staying Grounded (updated) (June 1 2011)

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