A Simple Economic Solution to Hunger, Poverty, and the Problem of the Poor
An old woman came down this way,
She had no bread left to eat they say,
The bread was gobbled by the corporate men,
And she fell in the gutter in the cold and rain,
And was never hungry again.
At that the birds in the forest fell silent,
On every treetop is rest,
In every hilltop can be heard
Barely a breath.
The medical examiners came down this way,
'She is not just putting on,' they say,
The starved old woman was buried six feet deep,
And was never heard from again.
And the examiners smiled for the corporate men.
And the birds in the forest fell silent too,
On every treetop is rest
In every hilltop can be heard
Barely a breath...
Bertolt Brecht, Liturgie vom Hauch, 1927
The CFTC is accepting comments on the silver positions and market structure at the Comex. You may read about it and perhaps comment to the CFTC here.
From the quick bounce back it does appear that the big flash crash in silver in late day thin trading was a bear raid after all. We will know more when the Comex releases final numbers.
I had taken the opportunity on Thursday to buy the dip in silver at its gut wrenching bottom rather heavily, and with positions of leveraged instruments a little less ordinary. Most of those were sold today for a profit, and one must look forward to next week to see which way the markets wish to go. Monday is 'first delivery day' for the current contract and the ugly negotiation for cash settlements will begin in earnest.
The raid yesterday may have been a negotiation tactic. It certainly was a cheap and tawdry affair, obvious to all but the most willfully blind, and those in silent complicity. With the volume drying up in the markets making one's quota on the trade desks must be getting increasingly difficult.
It reminded me of playing a game with the little girl, who cheats in the most clumsy and obvious ways, thinking herself very clever. And if she loses, she complains and pouts incessantly until you cover her losses. Rather like the American crony capitalists, I think.
This goes out to the Boys on the Prop Trading Desks. Nice try this week, but kind of pitchy. And you definitely got no soul.
And as always, for Blythe. Thanks for breakfast, sugar bun.
A Special Request, Going Out To Max Keiser's Silver Liberation Army (SLA).
Stand and Deliver Next Week, Comex Bitchez...
