Silver price up as JP Morgan cuts short position and backwardisation rules

From ArabianMoney.net:

Silver market experts have long pointed to the massive short position held by several major banks as the prime reason for the metal being underpriced and the only commodity still trading below its all-time high of thirty years ago.

But the headlines in the Financial Times today announced that JP Morgan has ‘materially reduced’ its position in silver to counter these allegations which it denies. It is perhaps no coincidence that silver is up 70 per cent since August.......read on

Ron Paul - Making money out of thin air

From Bloomberg:

U.S. Representative Ron Paul, a Republican from Texas, talks about the Federal Reserve's response to the financial crisis and the bank's that borrowed from the Fed's Term Auction Facility. Paul speaks with Pimm Fox on Bloomberg Television's "Taking Stock.".........watch here

15 year old Tells Establishment to Stick-it

Weekend chill out

As the ABC Bullion blogger is on Thai time, ie late, so it seems is last weekend's chill out, and being in Thailand I thought it only right to have a Thai pop song as the chill out.

Cinderella
Mai Chai Ghon Hin
(I'm Not A Stone)

Speed

Speech by Commissioner Bart Chilton before the High Frequency Trading World USA 2010 Conference, New York

December 8, 2010

Introduction

Good morning and thanks to Terrapinn, and especially Matt Bednarsky, for the kind invitation to speak with you today.

Today, I’m going to spend a few minutes talking about speed. That is, speed not only with regard to computers in trading but also to regulation. Together, we’re all going boldly where no man has gone before. I’ll also share with you a few of my thoughts about the happenings and changes that are occurring in Washington that will impact Wall Street and LaSalle Street and a bunch of people on streets that not many folks have even heard about.

Streets With No Name

In fact, forget about Wall Street or LaSalle, it really doesn’t matter the name of your street at all. Many High Frequency Trading (HFT) and other financial trading firms don’t even have offices in New York or Chicago, let alone London, Hong Kong or Singapore. If you have a connection, you can trade, and trade they do. A recent report says HFT firms account for about 50 percent of European markets. Our CFTC economists say high frequency traders (HFTs) account for roughly a third of all trading volume on regulated U.S. futures exchanges.......read on

End of Empire: Max Keiser interviews Dr. Paul Craig Roberts

Words vs. Actions

Sins of the Father

One has to wonder if Bernie's son was given some help for fear of him naming the banks that helped Daddy.

Brittan protests against the imposition of the New World Order

Mass demonstrations by thousands of students and trade unionists in central London against an increase in tuition fees, are growing more violent. It's the latest and the largest in a string of rallies against sweeping austerity measures and budget cuts across Europe. What started as a relatively peaceful march later turned into violent clashes with the police, which were largely outnumbered by the demonstrators.

Jim Rogers: Britain is Bankrupt