Yes we all know who as a vested interest in making sure silver does not take off. Over the weekend paper silver was sold off in huge volumes(6 month total US silver supply in minutes) again to try to smash the momentum since the recent QEver announcement from the Fed. What I enjoy most from these stories is that eventually the dam will burst and will be interesting to see the manipulators panic. Excellent work from SilverDoctors below:
Apparently Blythe’s monkey’s are burning the Sunday midnight oil in order to prevent silver clearing $36 and triggering JPM’s rumored silver derivative losses.
A miniature replica of the May 2nd, 2011 drive by shooting was just completed, as silver was knocked down the proverbial mine-shaft moments ago, dropping nearly a dollar in nano-seconds on Monday’s Asian open.
Volume data indicates that 3,297 contracts, or 16.5 million paper ounces of silver were dumped on the market in a mere 5 minutes between 9:00 and 9:05pm EST.
In other words, approximately 1/2 of the entire US annual silver production was dumped on the market by the cartel in a 5 minute period on a Sunday night.
Silver was drifting under $34.50 prior to the raid which knocked .80 off the metal nearly instantaneously at precisely 9:00pm EST: