Carlos Slim Owns A Fucking Silver Mine

Saying Carlos Slim is short silver is like saying Exxon Mobile is short gasoline, because sometimes they lock in superior pricing.

I must say with the utmost sincerity, that if you are one of the people spreading this nonsense, then you are an ignoramus of the highest caliber, and deserve to be euthanized, promptly.  Indeed, the egregiousness of such a suggestion is nearly beyond parallel.

In addition, how is it that with a straight face you can claim the collapse in silver is completely justified, to the extent that silver should now continue to retrace back to a price of single digits.

May I remind you, buying silver as it were a fad for the regular “common Joe” was only begun the winter past.  Before that, the popularity of the silver trade was still very much muted and limited to the dedicated few.  As such, a retracement of much below $30 is completely unwarranted, given that some of silvers upside between then and now (a time of QE II) was vindicated.

While I myself am warming to the dollar trade (a truth recognizable by the cash position I had on my books until just yesterday), to sit here with a straight face a say that a 30% crash in three days in such an entity as the commodity markets is called for and not the product of external manipulation; especially in the presence of just such observable and obvious manipulation as raising the margin requirements such a gargantuan amount; is hokum.

It is blatantly obvious that such a drop in price is the cause of a massive sell out, and here we have an obvious culprit in the form of forced margin sales, and so you, the ever vigilant detective, are out digging through trash cans looking for the murder weapon. 

Surely, it must be those dastardly mom and pop types who got in over their heads!  It was them all along!  Now silver to $0!!

The weapon is still smoking in the hand of the shooter.  Quite being dumb and stop shorting the silver market on “the new normal.”

While I will concede to you that $50 an ounce in such a short order was perhaps extreme, if you think the price right now is fair, then I would beckon you to recall:

The price of silver was only about $3 lower than where it is now when I made my own major sales back in December.  And that was how many billions of dollars of Fed pumping ago?

But no!  I’m sure you know what you’re doing.  Silver is just the most useless most absolutely necessary metal in the world today.

I will eat your liver by Friday of next week…

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