In dem folgenden Brief an Blythe – gemeint ist Blythe Masters, Chefin der Global Commodity Group von JP Morgan, die unter anderem die CDS entwickelt hat – geht es darum, dass einige Hedgefods mitbekommen haben, dass der Silbermarkt manipuliert ist. Sie erkannten, dass die COMEX nur noch etwa 105 Millionen Unzen Silber bevorratet und versuchen nun, große Mengen Silber-Kontrakte an der COMEX zu kaufen und die physische Lieferung zu verlangen. Wenn die COMEX nicht liefern kann, muss sie einen Aufschlag von bis zu 30% auf den Spotpreis zahlen. Diesen Aufschlag wollen die Fonds kassieren – darum geht es. Sie wollen Mitte Februar die März-Kontrakte kaufen, dann Mitte März die Mai-Kontrakte und so weiter – solange, bis die COMEX bankrott geht.
Blythe Masters, head of JP Morgan Chase’s global commodities group
Blythe,
This is what I am hearing from your former traders (who made “very interesting career decisions”). Well it seem that they are on to a new scheme to corner the Comex and drive the price of silver up $10 to $15 dollars in a matter of weeks.
The strategy is as follows. We know that Comex only has 105 million ounces of silver of which only 50 million ounces are availabe for delivery. (I personally don’t believe the Comex numbers are anywhere near that high, but that is neither here nor there for now.) Well, all it would take is 10,000 contracts on the Comex to buy up all the “available silver” at the Comex and 20,000 contracts to deplete it completely. The current front month March OI is north of 78,000.
Watch the OI closely. Blythe’s former traders are advising major hedgefunds and billioniare investors to buy up as many contracts as possible as March 1 approaches and deposit the cash needed to stand for delivery for the month of March. The purpose is not necessarily to bust the Comex but to force the Comex to pay a premium (some as much as 30 percent) for cash settlement. Think about it. If a group of hedgefund gets together and bankroll $1 billion, they can buy more than 30 million ounces of silver. Of course, the contract sellers like The Morgue cant deliver the silver so a cash settlement is the only recourse. So what’s wrong with $200 million in profit on a $1 billion investment that takes less than 4 weeks total?
Guess what Blythe? Your former traders are advising everyone they know to put on this trade come the first week of February. Is this what happened in the Decemeber contracts? Is this why silver went from $22 on September 30 to $29 by December 1? How much do you think silver will spike in February as we approach March 1? The traders think silver will be north of $45. Heck it went over $9 as we approached December and everyone who got a pay off in terms of a premium cash settlement will be back for more. And they are all gonna be bringing friends to partake in the bounty.
Your former traders are telling everyone who would listen that all they need to do is purchase a huge amount of March contracts near the end of February and stand for delivery and they will all make 20 percent in a matter of days. Is this what you are hearing Blythe? If so, shouldnt you let the price of silver move up so that you can get some physical to deliver before March 1? [Quelle ZeroHedge]