"I believe the origins of the manipulation can be traced to collusive and concentrated short selling for profit by large financial institutions, starting with Drexel Burnham, then on to AIG Trading, Bear Stearns and finally to JPMorgan. These were the firms at war with higher silver prices, which the US Government subsequently joined...
The war has been waged against all silver market participants by a few well-connected financial firms and banks for the purpose of price control. This price control enables JPMorgan and others to capture profits on a variety of derivatives transactions, including COMEX futures and options contracts. This is exactly the same motive that caused Barclays to manipulate LIBOR; interest rates were manipulated for mostly short-term payoffs on derivatives contracts valued by the rates being manipulated. Likewise, JPMorgan and others manipulate the price of silver on the COMEX to capture short term profits on silver derivatives contracts.
An important characteristic of the war on silver is that it is centered in the world of derivatives, as opposed to the actual world of metal production and consumption. The main objective of JPMorgan and the other silver manipulators is to take as much money as possible away from those holding the counterparty and opposite derivatives positions. Nevertheless, all producers and holders of metal are harmed when derivatives manipulation causes silver prices to fall for no legitimate supply/demand explanation, as is a regular feature of the silver market."
Ted Butler, The War On Silver
Paper is their ground, and bullion in hand is ours.
They are strong, monied, influential, unscrupulous, greedy, heartless, and cunning.
But we know what they know and greatly fear, that their success is not based on hard work and true excellence but on deceit, on a fraud, and a mass of falsely valued paper holdings.
The fraud that has propelled them into the ranks of the wealthy has them caught in a trap of their own devices. And they are crawling with fear as the house of cards closes in on them, and may soon turn on themselves. They have no conscience.
Although any help from the regulators would be welcome, we ought not to count on it. If this job be done, then we must do it ourselves. For they have not declared their war just on monetary assets, but on us, the people, as well.
So we hold our ground, and do not go recklessly into their maze of paper when the turn of advantage comes our way, as it always will. Stand fast, and let them come to us, onto our own chosen field of hard assets, where we are firmly placed on solid ground, and aware of their treachery and deceit.
And if all goes well, the price they pay will be so great that all may see it, and remember.
Fiat justitia ruat caelum. Let justice be done, though the heaven's fall.
When I despair, I remember that all through history the ways of truth and love have always won. There have been tyrants, and murderers, and for a time they can seem invincible, but in the end they always fall. Think of it--always.
First they ignore you, then they laugh at you, then they fight you, then you win."
Mohandas K. Gandhi
As a reminder, 25 October is St. Crispin's Day.