Double Layered Tin Foil Hat
I am well aware that gold and silver are useless investments that hold no value over what anyone is willing to pay for them. Not like stocks or real estate which are priced 100% correctly at all times based upon set parameters known to all. Only fools buy the metals and most metal heads are crazy conspiracy nuts anyway.
Some other conspiracies that have yet to be proven true, oh wait, they have:
-The Market Protection Team that guns stock futures in times of need
-The Long Term Capital Management (LTCM) backdoor bailout
-Threats of street violence to extort TARP money
-FED breaking own charter to exchange treasuries for toxic paper
-The FED coordinating to drop gold price with England in the early 2000's
There are more but I just wanted a sampler.
Sometimes my double layered tin foil hat sits heavy on my brow as a firm believer in the future of the last real money. Sometimes I find it hard to not go all conspiracy crazy though, and here is a case in point:
Whistleblower Exposes JP Morgan's Silver Manipulation Scheme
Now JP Morgan's silver manipulation from a massive short position in silver is well known to hard core metal watchers. Catching them o a paper trail is a bit new though. From the piece:
On March 23, 2010, GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Maguire is a metals trader in London. He has been told first-hand by traders working for JPMorganChase that JPMorganChase manipulates the precious metals markets, and they have bragged to how they make money doing so.There is much more and I would suggest you check it out. Also required is this piece form Jesse's Cafe Americain:
JP Morgan Manipulation Whistleblower
So what's the big deal? Nothing except this (via Jesse):
Whistleblower to CFTC in JP Morgan Silver Struck by Hit and Run Car
I am glad that although Mr. Maguire and his wife are shaken they will apparently be all right.
The related story on his allegations regarding manipulation in the silver market is here.
I hesitate to say anything more at this point, except curiouser and curiouser.
As reported by Adrian Douglas, the Director of GATA who has been the contact for Mr. Andrew T. Maguire
"On March 25th at the CFTC Public Hearing on Precious Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of gold and silver market manipulation by JPMorganChase, and who had tipped off the CFTC in advance of manipulation in gold and silver some months ago.
On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape.
When a pedestrian eye-witness attempted to block the driver's escape he accelerated at him and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.
Andrew and his wife were hospitalized with minor injuries. They were discharged from hospital today and should make a full recovery."
Now in a statistical run down:
-Your odds of being hit by a crazy driver are pretty low
-The odds of being hit as said on any specific day are very low
-The odds of being hit as said and on a day not 4 days removed from the manipulation story being out are almost impossibly long
Now I am sure this is all pure coincidence, but my head is itchy from keeping my tin foil hat on all day. Strange indeed.
For more metal mania:
IMF Is Now Rejecting Prospective Buyers For Its Gold StashI would think the IMF would want to get rid of something as useless as gold when paper money is the better option. Weird.
In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors. "I just spoke with Eric Sprott, who bid to buy [the IMF's remaining gold on the block] and they refuse to sell it." As Kitco points out, "the IMF might be holding out for a bigger buyer or a central bank or for higher prices. But Holmes argues the IMF's rejection of Sprott's bid means markets are being manipulated." Back to Holmes: "I think there is a lot of manipulation done by governments around the world in the currency markets which affect the bond markets so to me it's just normal course." Holmes concludes "with an election year there may be a gold rally that could be two standard deviations, or $300 dollars, to the upside. So you could see gold run to $1300 to $1500 quite easily." This all is occurring as ever more pundits finally realize that as fiats are discredited across the world, the only safe, non-dilutable resource is gold.
I have re-fallen in love with boxing and through the miracle of YouTube almost any fight I can think of is available for viewing!
Hector "Macho" Camacho was one of the best fighters I had ever seen. A super fast southpaw (left handers are hard to fight) with almost uncanny defensive skills, Camacho was well on his way to becoming an all time great. Can one punch change an entire career? It can, and a left hook from Edwin "Chapo" Rosario in round 5 of their fight sent Camacho on a career path of more running around the ring than fighting. I wonder how he might have turned out otherwise (punch comes after the 45 second mark):
He was never the same fighter after this one and I also scored the fight for Rosario but Camacho got the decision.
The greatest fight I have ever seen was my hero Alexis Arguello and Aaron Pryor in 1982. Two great fighters at the top of their game. It was troubling that Pryor likely used illegal substances during the fight, and to this day I think he was on something. Nobody can take the right hand that Arguello lands at the 4:38 mark and stand up unless on some thing:
I still get upset at the end of the fight.
Sugar Ray Leonard is a smart guy. He waited until Marvelous Marvin Hagler got old to fight him. A Hagler in his prime was a top 5 all time fighter and would have killed Leonard. As it was, when they met the fight was exciting and sad. Hagler is a Massachusetts native and very beloved yet he fought the dumbest fight ever against Leonard. At the time I thought Hagler was robbed in the fight, but now when I score the fight I have Leonard winning by 2 points. Most exciting part? Between rounds 11 and the final round 12 Sugar Ray's trainer Angelo Dundee scream "We got 3 minutes!", the referee comes over rand says "one more round and the fight is over" and Dundee yells "You bet NEW CHAMPION, NEW CHAMPION!" and Leonard gets up off the stool ready to go (watch from 3:10 mark on):
An amazing comeback for Sugar Ray.
One punch knockout? How about Michael Nunn's KO of Sumbu Kalambay? What was funny is that Nunn could not knock out a child usually so this was weird:
Julio Cesar Chavez find a way to put Meldrick Taylor away with 2 seconds to go in a fight he could not have won on points. Watch the last minute of round 12 starting at the 6:12 mark:
Have a good night.