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Tuesday, March 8, 2011

What is the role of Rome in this blatant and illegal manipulation of the price of silver? Remember, according to Eric Phelps JP Morgan has a direct telex to the Vatican!

Silver Shocker

By: Theodore Butler

Here’s an extended excerpt from the Weekly Review sent to subscribers on March 5 -
The big surprise was in the silver COT, where the big 4 increased their net short position by 3000 contracts on the previously mentioned reduction of 1300 contracts in the total commercial net short position. This increase in the big four’s short position broke the pattern of a reduction in the concentrated short silver position that had been in force for months. The increase in the concentrated short silver position was so unexpected by me that I thought, at first, it must have been a mistake. Since the Bank Participation Report was released late yesterday, an hour or two after the COT, my first thought in the interim was that it would not be JPMorgan increasing its concentrated short position, but most likely the other three entities in the big four. After all, with all the negative attention (and losses) accruing to JPMorgan and its big silver short position, there would be no way JPM would have accounted for the 3000 contract increase in the COT for the big four.
If the silver COT was a surprise, then the Bank Participation Report was a shocker. There was a net increase in the US bank category of 6000 contracts to 25,000 held net short in silver. JPMorgan’s net silver short position, which had decreased by 11,000 contracts over the preceding three months to 19,000, had suddenly ballooned to 25,000 contracts (125 million ounces). From my reading of both these reports, it appears that the big increase in silver short selling by JPM took place during the last COT reporting week, even for the BP Report. Before I continue, let me explain that I consider JPMorgan to effectively account for all or the bulk of the entire US bank category in the Bank Participation Report for a variety of mathematical reasons. However, it matters little if there is another US bank also holding a significant net short position in COMEX silver, as all that would mean is that two US banks are colluding to manipulate the price of silver and not just one bank acting alone.
Two and a half years ago, I had a very similar experience of shock over a Bank Participation Report. This was before anyone knew that the Bank Participation Report even existed. The August 2008 Report caused me to write a series of articles that started with “The Smoking Gun” in the fall of that year.  In turn, my analysis and writing led to the current CFTC silver investigation (still unresolved) and the revelation that JPMorgan was the big COMEX silver short by way of taking over Bear Stearns. I further believe that the revelation of the true size and nature of the concentrated silver short position has contributed to the current movement towards position limits by the CFTC. 
As much as the August 2008 Bank Participation Report was shocking, the current one is even more so. That’s because we know so much more today than we did back then. We have waited two and half years to hear anyone legitimately explain how a US bank holding a short position equal to 25% of world production isn’t manipulation. No explanation has been forthcoming, nor is it likely to ever be offered. We know now that concentration is the prime requisite for manipulation. To witness the most concentrated participant suddenly increase its silver short position by more than 30% is something almost beyond comprehension.
Let me walk you through the mechanics of what just took place and then I’ll speculate on the motivation of JPMorgan increasing its silver short position so dramatically. Over the past two COT reporting weeks, it has been primarily a commercial versus commercial type affair. The big technical funds have largely refrained from adding to their net long silver position, even though prices have climbed very sharply. Two weeks ago the raptors (the smaller commercials away from the big 8) increased their net short position to 4000 contracts, the highest level in four years. The raptors were selling to the smaller unreported category traders who were buying. This week, the raptors bolted from their entire short position, buying it back completely and leaving them flat (not net long or short). JPMorgan was the sole seller to the raptors’ buying, resulting in the big increase in JPM’s short position.
As far as the motivations behind this trading, the most plausible explanation for the raptors running from their newly initiated big short position is the stark reality that shorting silver has been a very bad deal. My guess is that the raptors did their homework on silver only after they put on the big short and started to lose money on rising prices. That homework persuaded them to get off the short side of silver pronto, which they did. JPMorgan’s motivation for suddenly and greatly increasing its silver short position is less clear and more troubling. My own guess is that the JPMorgan silver trader thought he had no choice but to sell many more contracts short in order to control the price and protect their existing short position. That’s because there was no one else left to sell. If JPMorgan didn’t sell, no one else would have (at prevailing prices). That’s the problem and it goes to the heart of the crime. The raptors didn’t want to sell, nor did the 5 thru 8 large traders. Ditto for basically all the other silver traders. That left JPMorgan as the sole silver seller, as the COT and Bank Participation Reports clearly document. Please think about this.
We know that concentration in any market is to be avoided. The whole thrust of commodity law goes towards preventing concentration. We know that the ideal profile of a free market is where a wide diversity of market participants competes on both the buy and sell sides of the market. We also know that the most extreme state of concentration possible is where there is, effectively, only one buyer or one seller. Therefore, what the latest COT and Bank Participation Reports just confirmed was that the most extreme form of concentration possible just occurred during the latest reporting week.
This is the key point – what would have happened if JPMorgan hadn’t sold short the additional 6,000 silver contracts (30 million oz) when they did? Asked differently, in the current market conditions, what price would have been required to induce other market participants to sell the 6,000 contracts if JPMorgan hadn’t sold? My guess is that would have taken a price over $40 or $50 to attract that much legitimate selling. The fact that JPMorgan was the sole seller is the clearest proof possible that silver has been manipulated.
So egregious was this latest increase in JPMorgan’s short position that I am inclined to think that it may have been done on an unauthorized or rogue trader basis. Perhaps JPM management and the CFTC are not yet aware of it, seeing how recently it occurred.  After all, the COT and Bank Participation Reports were only published less than 24 hours ago. (As is my custom, I will be sending this article to the Commission and JPMorgan and the CME Group).
I realize that I am making serious allegations of violations of commodity law, as there is no market crime more serious than manipulation. At the very least, this new government data release is so disturbing that it should be addressed immediately. Silence on the part of JPMorgan, the exchange and the CFTC is no longer constructive. If my accusations are off-base, then I should be set straight. I’m not out to cause trouble; I am trying to help correct what I see as a very serious market problem.
I can’t help but think that Chairman Gensler of the CFTC will be troubled by this recent action by JPMorgan to substantially increase its already concentrated silver short position. In recent speeches he has indicated his support for position limits to guard against concentration. Please scroll down to the section on position limits in this recent speech to see what I mean. Chairman Gensler also solicits your public comments on this issue, as I have done previously. I found it interesting that he singled out position limits in this speech for encouraging you to comment. By the way, the number of public comments on position limits is now close to 3,000, a truly remarkable outpouring of public sentiment. 
Please don’t assume that the sharp increase in short selling by JPMorgan is automatically bearish for the price of silver. Yes, such manipulative short selling in the past has led to sharp sell-offs and could again. But things do change and current conditions in silver are vastly different than they have been in the past. While we must be prepared for a sell-off (by not holding on margin), this situation could (and should) blow up in JPM’s face. They are increasingly isolated which makes them both dangerous and vulnerable. Most of you are holding silver from prices much below the current levels. This bestows on you a power that few newcomers to silver possess, namely, the power of a long term perspective and the ability to withstand short term price gyrations. You have a price cushion and the power of knowledge that should enable you to persevere against any short term manipulation. The proper approach is to hold silver to go much higher and not to lose your position, just as it has been all along.
That aside, you should be disturbed enough about the revelations in the new COT and Bank Participation Reports to rattle on the cages of JPM, the CME and the CFTC. Just as a head’s up, I may make portions of this report available in the public domain if I conclude it will benefit subscribers. Let me think about it a bit. In the interim, please contact these parties if you feel so inclined. You know I will.

Dear Sister Theresa,

Yes, this video was made by an Irish-American, presumably a Roman Catholic, Mr. Delany. It is an attempt to portray the Mossad (created by the CIA in 1951) and the Israeli Masonic Labor Zionist government (overseen by the Knights of Malta like King Juan Carlos and administered by high Freemasons like Shimon Peres) as a superpower able to bring about the 911 attack and subsequent cover-up. This conclusion is pure anti-Jewish rhetoric intended to incite anti-Jewish fury in order to blame all American Jews in general for the 911 attacks and subsequent papal Crusade into Iraq intended to benefit Rome's revived "Latin Kingdom of Jerusalem."

The facts are these:

1. The attack on the USS Liberty on the fourth day of the Israeli-Arab Six-Day war in 1967 was ordered by Rome. That order was sent to the CIA/NSA via the Archbishop of New York City ruling his American branch of the Knights of Malta controlling both agencies. That diabolic order was enforced by Jesuit-trained Freemason and JFK assassin, President Lyndon B. Johnson---whose best friend was a Roman Catholic priest, Wunibald Schnieder, the priest of St. Francis Xavier Church, Stonewall, Texas. Further, it was LBJ who ordered the recalling of rescue efforts to save the desperate crew of the disabled NSA intelligence gathering ship, USS Liberty. LBJ was the creature of "the American Pope," Francis Cardinal Spellman, that "prince of the church," who put Texas' foremost political serial adulterer in the White House. The ultimate reason for the attack on the USS Liberty was to secure the successful taking of the Old City of Jerusalem from Sunni Islamic Jordan then ruled by another papal asset, Freemason King Hussein---the bosom friend of another high Freemason, George H. W. Bush. The Black Pope's "Unified International Intelligence Community" worked together during the USS Liberty attack in 1967, as it had also done during the pope's assassination of Roman Catholic Knight of Columbus JFK in 1963. This "Unified International Intelligence Community" (which created, financed and now directs all Islamic Terrorist organizations) is nothing more than the Black Pope's "Holy Office of the Inquisition" now operating in perfect synchroneity on a worldwide basis. The perfection of this global Inquisitional Network was one of the preeminent designs of the pope's Cold War Hoax premised upon the Airborne Nuclear War Hoax. The foundation of this international, Roman fascist "Holy Office" was the Jesuit-styled Nazi SS. Post war, Himmler's SS, "the Order of the Death's Head," was saved by Pope Pius XII's Vatican Ratlines (ODESSA) and then successfully used to build both East (KGB/SSD/Egyptian Intelligence) and West (CIA/BND/Israeli Intelligence---Mossad) intelligence agencies to work as ONE at the very top of their echelons.

2. As was the case of the Black Pope's Bolshevik Revolution, the papacy used its Masonic Labor Zionist "Court Jews" to play leading roles in the 911 debacle. Those traitors to their own Hebrew/Jewish/Israelitic race have willingly served the papacy in this crime and subsequent cover-up so as to enable Gentile, Jesuit-controlled operatives to blame the Jews for 911 and the war in Iraq/Iran. Indeed, Michael Chertoff and Viet Dinh were the penlholders of the wicked, unconstitutional "The Patriot Act," but the authors were the Jesuits of Georgetown University at which Viet Dinh is a professor. Just as there were Bolshevist Jews preaching in Yiddish and holding signs in Yiddish throughout St. Petersburg during the Bolshevik Revolution, even so there were Israeli Jews in New Jersey dancing on top of their White van and in the streets. This clearly was a bold attempt to provide irrefutable proof that "it was the Jews" who were behind the Revolution and 911. Both "stage plays" were designed to deceive the innocent, laboring bystander so as to drive him into the arms of the Jesuit rhetoric of Hitler in order to fulfill the "vision of Fatima" (the Nazi Crusade of "Operation Barbarossa" in converting "Communist" (in fact Orthodox) Russia to the pope) as well as to drive all Americans, White and Black, into the arms of the White Fascist New Right and the Black Fascist Nation of Islam. It was no coincidence that the Archbishop of New York who controlled the New York Port Authority leased the WTC to a racial Jew, Larry Silverstein, only three months before the demolition. No one can ever know that Court-Jew Silverstein is a servant of Cardinal Egan.

3. New York City is under the complete and total rule of its Archbishop, Edward Cardinal Egan. In fact, JPII called the previous Archbishop, John Cardinal O'Connor, "the Archbishop of the capital of the World." JP Morgan/Chase is directed by the Knights of Malta, that bank having a direct telex to the Vatican according to Roman Catholic author, Martin Lee. Nothing, and I mean nothing, "goes down" in New York City without the direction or the permission of the Archbishop. Thus, the Jewish/Israeli businesses in New York are resident at the permission of Rome, and their businessmen are usually high-level Jewish Freemasons connected to the Black Pope's Masonic B'nai B'rith.

4. Concerning Jonathan Pollard, he never could had succeeded to the extent of his theft and treason had in not been for his overseer and promoter, Jesuit-trained Knight of Malta and DCI, William J. Casey. Casey was the protector of Pollard until the pope's Masonic Labor Zionists were given all the thousands of top secret files necessary for the "Kingdom of Jerusalem" to keep abreast of the international intelligence game. No Casey, no Pollard---period.

5. The Council on Foreign Relations, based in New York City with a sister office in Chicago (of which Obama's wife is a member), is the semi-secret association by which Rome sends its agents into the US government to control all three of its branches as well as its press, banking, academia, religions, etc. The CFR (the CIA serving as its enforcer according to Roman Catholic CIA officer Victor Marchetti) was mentioned twice during this two-hour video, but many more personages named therein could have been easily connected to the membership roster of the CFR. This was not done and for a reason. Once you finger the vast majority of the Jews in the CFR with the master who rules the CFR, then the game is up and the true purpose of this Jewish/Israeli involvement in 911 is exposed to the light of day. It is no coincidence that one of the advisors to the Archbishop is also a presider in the CFR. That man is the extremely powerful CFR pundit, backer of Mayor Michael Bloomberg and former president of Jesuit Fordham University, Jesuit Joseph A. O'Hare. The CFR will continue to be used to carry out the Black Pope's Council of Trent via the Jesuit Oath; and the Jews involved in the American Empire's papal domestic and foreign policy are merely marionettes of "that man behind the curtain," Jesuit Superior General Adolfo Nicolas.

I trust this critique is sufficient to place the blame for 911 where it rightly belongs---on that antichrist of Rome, Pope John Paul II and his successor, Pope Benedict XVI.

Sincerely in faith,

Brother Eric

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