Jesse: Silver S Q U _ _ Z _ : Would You Like to Buy a Vowel?
Another great post by Jesse at Jesse's Café Américain
11 May 2010
Silver S Q U _ _ Z _ : Would You Like to Buy a Vowel?
Another vertical move in silver from the New York open, as the bullion bears who are heavily short silver attempt to cover their paper shorts, which is a trick considering how tight the physical market is, and how vulnerable they are to discovery now that their attempt to suppress the price is falling apart. It is like watching the Hunt Brothers silver gambit in reverse.
If you like your markets opaque, imbalanced, and dangerous, the NYMEX is your Bartertown.
If this turns into a serious short panic the price of silver could reach its all time high. Markets that are allowed to become this out of sync with legitimate price discovery are inefficient and disruptive to the real economy.
But now we will see the bullion banks who have sowed the wind, reap the whirlwind.