Tears of the Moon

From The Gold Economizer:

January 7, 2011 - I was gratified to see how well my recent article (Is China Behind The Big Silver Short Dec 25^th, 2010) was received, when over 50 websites worldwide picked it up in the first 24 hours. But I am afraid that a fair bit of confusion was created by that article, which I want to clarify here.

First, I am not presenting this as fact. I am presenting this as a theory that explains the observable facts.

With no transparency in the banking industry, we will never get a chance to see the swap books of JP Morgan or HSBC to find out which of their clients are shorting silver, or how much of the money behind silver shorts comes from JPM's own proprietary trading desk, and this is how it SHOULD be. But the presumption IS that the CFTC is monitoring these books, and would perform their duty to investigate any clearly manipulative and excessively large short positions not being held by legitimate hedgers of mine production. Sadly, we cannot depend on the CFTC to put fair, realistic position limits in place, or even to enforce the unrealistic position limits already in place, which are far too high compared to annual silver production and compared to above ground silver inventories to actually succeed in limiting anything......read on