Silver Pumpers

With the price of silver being in the news lately (Reuters: Silver swept up by GameStop retail frenzy, prices soar), it is a good time to revisit history.

Max Keiser: Crash JP Morgan - Buy Silver!

One of the biggest pumps since Silver Thursday by "The Hunt Brothers" in 1980, many goaded into buying silver got burned a decade ago with Max Keiser's silver pump (YouTube clip)

Wikipedia entry on Crash JP Morgan—buy silver

Wikipedia section on "Crash J.P. Morgan - buy silver"

Keiser has labeled JPMorgan Chase "the biggest financial terrorist on Wall Street" in relation to their alleged manipulation of the price of silver. Keiser created a campaign called "Crash JP Morgan—buy silver", whereby people buy silver bullion, thus raising its price and leaving JP Morgan with a huge short position to cover, the margin of which are collateralized by JPMorgan's own stock price, bankrupting itself. The campaign was introduced on the Alex Jones Radio show in November 2010. Writing in The Guardian in December 2010, Keiser suggested that the text "crash jp morgan buy silver" should be used as a googlebomb to virally promote the campaign.

Adweek magazine described Keiser as "the most visible character in an underground movement that has spurred hundreds of blog posts and videos, and played some small part in driving up the price of precious metals".

Keiser drew criticism at the 2000 ShowBiz Expo in Las Vegas when he said of media content that "Everything is inescapably going to a price point called free." In response, Kevin Tsujihara, executive vice president of New Media at Warner Bros., commented that "Piracy.com" will be the victor if superior content is available on sites supported by advertisements.

In 2005, Steven Milloy, the "Junk Science" commentator, demanded that Keiser be removed from the panel of the Triple Bottom Line Investing conference, where he was scheduled to appear. Milloy accused Keiser of making threats against his organization and petitioned sponsors Calvert Investments and KLD Research & Analytics to withdraw from the project. Robert Rubenstein, founder of conference organiser Brooklyn Bridge, stated that Keiser's comments "do not constitute a threat to person or property and are not related to the conference or the content that will be presented there".

The Atlantic magazine's The Wire website speculated that a Downfall parody video created to promote Keiser's campaign was implicated in the sacking of Grant Williams, the Asia equity trading head at J.P. Morgan.

About the precious metals silver market

There are two main disadvantages to buying physical silver in many countries:

  1. Value-Added Tax (VAT) when buying (unless second-hand purchasing in some places)
  2. Capital Gains Tax (CGT) when selling.

If you own and want to sell silver, you will also need to factor-in where you sell it, e.g. if you're doing it online, eBay and PayPal fees, in addition to postage and insurance.

So to benefit you would likely need an over 30% rise over the price you bought in. Most silver hoarders over the past decade probably bought in $11-15 and now some would be looking at offloading. (Except the Max Kaiser Bankrupt J.P. Morgan bag-holders who got in at $30-40!). This is what silver buyers now face as a risk. The silver price historical of huge spikes then massive dives every decade or more. Silver stackers know this so now this is their opportunistic time to sell.

Chart of 20-Year Silver Price History to 2021

20 year silver price history to 2021

The markets for precious metals have been manipulated and rigged for a very long-time, people forget this, or simply aren't aware, and then history repeats. All of the investors in the world cannot match the financial firepower of a financial elite who can create money at will to manipulate markets, e.g.

It applies to all central banks. Also the much trump-eted changes to the U.S. Treasury and Federal Reserve cheered-on by Q conspiracists (Q post 3904 - This is not another 4 year election. Q) are simply new legal loopholes to manipulate markets.

Trump Fed CEO Chairman

Whatever happens in the financial markets happens because it is allowed to happen, not because of any fantasy that "the little guy has outsmarted the big boys" as the discredited propagandist mainstream media and characters like Elon Musk are hyping the situation to be. Current financial events are in-line with agendas that aid "The Great Reset" (American Thinker: The Great Reset and Klaus Schwab) and related plans.

If a ruling elite wants people to hit the wall and become utterly dependent on the state they need to clean them out first. Reckless people in The West who get into debt get plenty of welfare and social benefits, whilst those who spent their lives earning and saving get nothing because government deems they have too much money to require financial support. Anyone who saves, is prudent, and does not get into debt will have to be reduced to poverty before qualifying for handouts from the state. Ultimately if Universal Basic Income is to be introduced, this thinning-out of the economic middle classes must continue. Eventually the majority of people will own nothing and will maintain trickle-up usury payments to the super wealthy "elite" that will own everything. These unusual financial events lately fit right into the plan.

There are innumerable 'respected' shills on youtube who have been pumping silver for years with outlandish proclamations and predictions and they are now looking forward to their big pay-day, so be warned! If you get involved in silver now, be aware of the risks!

A note on Gold

Gold can be exempt from CGT and VAT, eg buying Britannia gold coins in the UK which are also legal tender, e.g. 1 ounce coins have a face value of £100. This is how the rich can perfectly legally transfer accumulated wealth. Within the EU, Austrian Philharmonic 1oz gold coins are the equivalent.

Resources

  • The best web silver historical resource The Silver Stealers
  • Salivate Metal - a light-hearted channel exploring precious metals news and stories.
  • Smaugld - Smaulgld provides hyberbole-free analysis of the precious metals markets.

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