© Warren James
There's been a lot of chatter in the precious metals blogger community lately about how the big banks like JP Morgan have swung from a short position in COMEX gold futures to a long position in COMEX gold futures. One commentator, Turd Ferguson,
has proved to himself that JP Morgan is *net* long gold and will actually lose money if the price of gold falls.
Strangely, though, Turd Ferguson, who prides himself on leading an "Army" of precious metals warriors against the corruption and manipulation enacted by an Evil Cartel, concludes that this means that JP Morgan will not let the price of gold fall further, so, surprise surprise, now (like every other time!) is a great time to buy gold. Turd's math suggests that if gold were to fall to the predicted-by-some level of $1050/oz, then JP Morgan would lose $1.5 Billion, and well, we all know that JP Morgan doesn't want to lose $1.5 Billion, so that cannot and will not happen.
To that, dear Precious Metals Minions, I say: BOLLOCKS. Back in the day, not so long ago, Gold and Silver Warriors were willing to fight for what they believed in. When we learned that JP Morgan had a huge short position in COMEX futures, we did what any logical group of like-minded stalwarts would do: we banded together to BUY SILVER - CRASH JP MORGAN. This brilliant campaign,
originated by General Max Keiser, was a steadfast show of solidarity amongst the Silver Warriors, and a sign to the Morgue and the rest of the Evil Empire that we would not stand by and watch their outright manipulation of our markets. As General Keiser noted:
"This campaign has 100% chance of working; it falls into the category of a self-fulfilling prophecy. As more individuals buy silver and gold, all attempts to replenish the system with more paper money will only cause the purchasing power of the silver and gold to increase - thus prompting more people to buy more"
Well, dear readers and Precious Metals Patriots, it's time for you to do a service for your Army again. There is only one logical solution about what we must do in reaction to this "news" that JP Morgan has massive long exposure to the price of gold: