This is a new message from Wynter_Benton

It verifies "Amber" as a member of the team. Have fun!

"From the Yahoo JPM board.

As reported by Ted Butler, The Morgue recently shorted 6000 contracts which is opposite of the retreat it has been on these past few months covering to the tune of about 11000 contracts.
Without these 6000 contracts, TB estimates that the price of silver would be at $50 let alone $40. We will be most interested in the price action of silver this week.

Why is The Morgue making a stand right here and right now? We are not sure. Any thoughts real or imagined? What is spooking The Morgue to make such a move now?

On a side note: Amber at
speaks on our behalf"

I left them with this message:

"The answer is a phone call away and access to the brightest minds.
Check your email. " -LC

Not trying to be deliberately cryptic here. Simply acting as an intermediary to pass along a message. What WB does with from here ?????


Louis Cypher said...

My only concern as regards the stand and deliver and take a premium approach is Blythe might be ready next month to actually deliver. If I were Blythe I would be calling in every favor from here to China and get a few plane loads ready for next month and call some bluffs. If I have to pay huge air freight so be it. It might restore a little confidence in the Comex and call a bluff. Good for kicking the can one more month anyway.

I would suggest everyone trot over to Harvey and see what he has to say in Silver.

sierra_hpbt said...

I subscribe to TB and read his weekly metals wrap this morning. He said he was totally surprised to see the Morgue add 6000 short contracts. I have been thinking about this. TB also said he thinks it may be a rogue trader at the Morgue and sent a copy of his essay today to the CFTC and JPM. These 6000 contracts came the jp morgue with NO help from the usual cast of characters. I think that the Chinese are pulling the string, will default on their short contracts and JPM will be able to say its them that didn't pay up. Again the reason to buy shorts is to keep the price down so the Chinese can raid the comex and SLV before the price skyrockets. It is just very weird that JPM bought alone. Where was HSBC? Did they do this so the news of 50.00 silver wouldn't hit the mainstream? Then you have a whole bunch more joe and jill sixpacks diving in to create even more physical shortage. Adrian Douglass says there are starting to be rumors of 1000 ounce bar shortages. Are they also trying to kepp at bay an Industrial user panic? I gaurantee that once JPM points the finger back at the Chinese, The fed will bail out JPM. Maybe they will hang some poor sap in China as a Rogue trader?

sierra_hpbt said...
This comment has been removed by the author.
sierra_hpbt said...

Maybe JPM and China have worked out a deal cutting JPM in on some profits when the price of silver blasts pasts a 1000.00 an ounce to make up for what they lose? or double dip on the bailout and get some cash from the Chinese?

AC_Doctor said...

Hell, theCOMEX is playing russian roulette trying to settle on physical delivery for this month. In May, they will be spinning the revolver cylinder that is totally full and they WILL shoot themselves in the head. Blythe will then be the next player to spin and silver will go to triple digits. The Morgue will then die with all of their derivitives that are written with paper silver and paper silver value will go to zero and physical will go on the rocket ride of its life...


Yukon Cornelius said...

Interesting... Thanks as always LC.


Louis Cypher said...

It's looking good for your trade so far.
I'm thinking Blythe will have to throw the kitchen sink at silver this coming week. But then again I am paranoid.

Would you consider writing an article on your trade? with break even, potential profit etc.
Kind of like a futures for dummies thing.
Of course just put in a disclaimer this is for educational purposes only etc etc.

sierra_hpbt said...

Yea its looking good right now but thats what scares me. I have been reading every letter Butler types for the past 8 years now. He said
the last time he saw the Morgue pile in like this it lead to the price of silver going from 21 to 8.75.. ofcourse this time around silver is in backwardation to 1.38. it wasn't in 2008.
Silver was plentiful back then with no shortages to speak of like today. BUT. Butler said this could be a rogue trader at JPM doing this. Me write a article on my trade? lmao..
yea after I have cashed it out at 54.00 an ounce! and no one will laugh at me because I will look like a genius. On the other hand if Blythe takes the price to 20.00 and I lose my arse I will be the laughing stock of the entire silver investment world.. Futures for dummies thing?.. I am the dummy! So maybe a biography of what NOT to do lol? You know something you are not sharing Louis? this feels like a set up lol.

sierra_hpbt said...

Please forgive my spelling and typing above. I can't type worth a crap.

sierra_hpbt said...

by the way Louis.. go to the dictionary and look up paranoid.You will see a picture of me there.

Louis Cypher said...

Nah. I'm just another mushroom sitting in the dark and fed dubious stuff. It's probably McDonald's because it tastes OK but then you get this queasy feeling in the pit of your stomach.

It's always different this time isn't it? But here is the way I look at it.
Buying pressure from the public at an all time high leaving the mints short ... which leaves the morgue short ... which leads to higher prices (in theory). Unless the public suddenly decides this is really stupid ....
On top of that it really is only a small percentage of the public buying.

This really is a wall of terror we are climbing.

Louis Cypher said...

Having said all that..... if the Chinese are the shorts they will leave JPM high and dry. It's just the way they do business. (see my posts about China an biz as to why I think this way.)
JPM are sitting on a pile of derivatives etc.
so $36 might be their line in sand that they have to defend at all costs. It might be higher. Who the hell knows.
Wherever their line in the sand is if they can't deliver physical they will be in a world of hurt. If WB or whoever is revenge trading then at some point they will expose JPM for what they are after getting their pound of flesh.
JMHO and not based on anything you guys don't already know.

Anyway Sierra we are all just anonymous dorks around here.

sierra_hpbt said...

Maybe this is just a head fake? Maybe the Morgue did this to make peons like us out think ourselves. Knowing the Butler would read the COT's and the Bank participation reports correctly, they planted a seed of a sell off coming. Maybe they bought those 6000 shorts in the hopes of people like me may want to lock in profits and panic out. Look at all the Long buying. SGS has some terrific posts of all the calls being purchased. Using Butler they get that memory in everyones head of a 70% sell off like they engineered in 2008.
But this time around its only JPM buying.. where is HSBC and the rest of the crooks? You know what ever JPM is doing has been given the blessing of the CFTC and the Fed.Gov. Like you say, I would be surprised if even 1% of the US population knows anything about silver. I bet hardly any of them would know what the price of an ounce of silver is right now. So is this what they are afraid of? The rest of the people piling in when CNBC is showing silver going parabolic? Could you imagine seeing silver going from 18 in September of 2009 then to 50+ by march of 2010? Then the hedge funds jump in? maybe that is what they are afraid of.. the hedge funds dumping billions into a tiny market. The staving off of an industrial user panic. And the people finally getting educated about how a few crooks rigged the silver market and the Fed Gov new about it but did nothing to stop it. In Butlers post on last Tuesday he was talking about how JPM could rig a sell off but it would be a 2 or 3 dollar move lower. They can not rig another 15 to 20.00 sell off. Also, The sellers of short contracts the previous week were the "Raptors" as Butler calls them. They sold short around some 5800 or more short contracts and then all the sudden got out of the trade this week as the price climbed to leave JPM the only short seller..what do the Raptors know?

Louis Cypher said...

My tell will be when I go to my local bank to take delivery of more halves and they have already been sorted for Silver. Then it's on.

sierra_hpbt said...

what do you do? ask the bank for rolls of 50 cent pieces and then try to find 40 and 90% coins?

Louis Cypher said...

Just go in ask them do they have any halves. They are more than happy to hand them over as they have to count all loose change up every evening. That clears them out of everything then you ask them to order a box or seven of coins. Each box contains 1000 halves or $500.
The first time I did it at my local bank I picked up about 10 silver bearing coins out of about 80 loose coins they had. Someone had walked in with pile of them a few weeks before and just changed them for paper.
I'll warn you though I have run across plenty of boxes that contain nothing.

Most of what I have plucked is 40% though. But hey it all adds up and is a risk free trade.
There are two types of boxes I have run across. The elongated and the more square box. The square boxes have higher content but it's all a crap shoot.

The key is small local banks that have this stuff sitting in a vault that has been touched in years. Never bring the coins back to where you got them.

I was going to do a little article with pics etc.

If you look at the prices of "junk" silver it gives you some motivation to get to the magical $1000 in face value.

Louis Cypher said...

There is a guy on the Kitco forum living in Canada who is stockpiling nickles for their nickel content. He has them in boxes around the outer edge of the walls of his condo so that he doesn't kill his neighbors downstairs.
Now that is insane dedication.

sierra_hpbt said...

I wish my dad and grandpa would have stockpiled pre 64 dimes, quarters and halves in the early 60's.

Ferdinand said...

I'm not an expert by any stretch of the imagination, but is it possible that JPM or who ever is shorting now, because the IO on May is already so high? I have wondered if they had made purchase at lower prices and then sold into the rally to hold down the price action. This time they couldn't buy without pushing the price even higher or they shorted this report because the front month of March was mostly resolved and it would push their hand this month. Just a thought

Ferdinand said...

One final thing and then I'll shut up. Ed Steers indicated that the banks foreign and domestic along with the world bullion bank, all raised their short interest. Kitco notified us that all orders will require 1K as of 3/14 and most sites and the US mint are dry. We're looking at a push back and/or their buying time. Everyone who can should be taking physical delivery now. More margin hikes and raising the minimum order levels are going to go higher this is the first step. Just talking out loud

Louis Cypher said...

Thanks Ferdinand,
Interesting the little guy being slowly squeezed out with high margins over spot. Just checked Apmex for silver maples and I don't like the prices. Maybe the morgue will do us a favor next week and drive the price into our open arms for more than a day or two and bring those premiums down.

Warren said...

Good morning, coffee!

I would be remiss not to draw a researcher's attention to SilverGoldSilver's new post about Wynter Benton, SGS:06-Mar-2011, his analysis is from a technical level based on trading.

This actually presents a great opportunity for the Wynter Benton group. SGS has offered to also be an additional 'channel' for messages. His quote: "So here it is. I am offering you a dynamic, systematic, and cohesive way to 'get your message out' on my board here. I await your update emails. Why do I have a feeling I wont receive one?"

Amber - if you can ignore the standard SGS style - he is handing stuff to you on a plate: if you want to reach a large audience then it's right there. He has to make good on his offer because he has pledged it.

All you have to do is what you've been doing all along - take his offer, present the truth. And even if you don't wish to use his channel, you can put up your own post here @ Screwtape files (where you can put pictures as well) : he will be forced to attack it directly (there's no such thing as bad press right?).

So like the situation in physical silver and physical gold, there is only one outcome. The only thing that varies is the timing and the story that goes with it. But I think Amber, you knew this from the start ;)

For all you skeptics out there - life's mysteries make much more sense when you phrase questions in terms of 'who gets paid?'. Follow the money trail and you'll normally find your answers.

JC said...

In 1980 silver hit roughly $50 an ounce. Move 30+ years and adjust for inflation it comes to roughly $131 an ounce. We have alot of ground to make up just to compensate for inflation. Some other things to consider, silver has been consolidating for 30 years and is just starting it's stage 2 phase. More positives, massive short position that is billions of ounces; some say more than 10 years of mining production. Additional demand from billions of new investors that do believe silver is money (India, China, and others)that are buying at an alarming rate. Mainstream media is starting to give silver its proper exposure and soon more US citizens will be looking to get a piece. Hedge funds, with billions to invest will be part of the momentum crowd chasing it up. Plus you have what is essentially financial warfare being waged by China and Russia to destry the US financial system.

This is not even close to the same thing as 1980 when 2 brothers decided they needed to protect their wealth by investing in silver. Silver will go parabolic...intersting times. Sometimes it is good to step back and reflect on what we are excited about.

Please feel free to add your thoughts of additional drivers of silver as this is only a partial list to be sure.

Jack C.

Louis Cypher said...

You have writing skills and obviously know what you are talking about. Do you want to write articles on the blog?

JC said...

I'm not sure what I can add, that you haven't covered; but would consider witing an article from time to time if I come across something that others should be aware of. In the short term, I would not be surprised if we see a pullback in Silver and Gold to retest some floor support. The dollar needs to bounce now that it has broken the $77 level, kind of like a gasp of air. The Euro has tried several times to try and hold the $1.40 level and seems like it needs to pullback and consolidate before it is able to make a good push through that level. Any pullback here in silver and gold would appear to be a buying opportunity of any physical you can get your hands on. Buyers definitely need to be aware of what they are buying as more and more counterfeit PM's are showing up. Be careful of items offered in "grains" or "mills". These items are either plated with silver or contain a very small amount of silver as part of the whole. Of course, make sure you do your research and be prepared to accumulated as you can. I have been finding it increasingly more difficult to acquire silver through the general market as the competition is much greater than 6 months ago, while the supply is getting limited. You know what they say about the price when demand outstrips supply. If we get a mad beat down in the near term, don't be afraid to buy with both hands as it appears these pullbacks are not lasting long enough to get your head around the trade and think about pulling the trigger.

As always, due your own due diligence.

Jack C.

Louis Cypher said...

Thanks Jack,
Just post up a junk email address tomorrow and I will add you to the list of contributors. You can add what you want at any point in the future.

AGoldhamster said...

Warren - SGS is just the greatest Egomaniac I have ever met on the blogosphere.

Further check his posts and count the f-word or similar words - I can tell you, that's not the type man I would like to meet at night. And that's not the type of style one can ignore.

He just suffers a lot that not he himself or his blog is WBs channel.

You know how to thank me?

Rumor, rumors, that never come true - or are pulled later

And even a blind chicken from time to time finds a corn somewhere.

And from the number of comments - I doubt that his blog noteworthy.
I think Turds blog - or JC'ers - or more neutral - JPMs message board - suits the needs very well.

Just not SGS's ...

Louis Cypher said...

You have mail.

Robert Leroy Parker said...

Hamster, how can I get back at your blog?

Anonymous said...

Louis, you arent joking about the 50 cent pieces. I have went through about $2000 so far, here is my tally. 1-1961 Franklin (LOL) 3 Bright & Shiny 1964 JFK's and 24 40% JFK's LOL

Louis Cypher said...

That is AWESOME. I love the smell of free Silver in the afternoon. Of course now you are screwed and the the next 4000 coins will have zero silver :)