Friday, December 24, 2010

James Turk and David Morgan on the silver price and CFTC

In this timely video, David Morgan of Silver-Investor.com and James Turk discuss current high silver prices and the CFTC's investigation. Recorded on November 6, 2010.



A massive increase in short position of non-US banks has increased almost 1000% from 614 contracts in July to 6,329 contracts in December + 5,715. This offset the decline in the short position of the US banks over the same period which has reduced from 31,803 contracts to 26,332 contracts (delta -5,471 contracts). Which non-US bank(s) has increased its short position? What is relationship to the US Bank mega-shorts, JPMorgan and HSBC? Adrian Douglas I think we have seen the asian physical bulls (sovereign or not) take control of the market for the most part. Silver has shaken a a bit of it's outright correlation with gold while the GSR is in a major downtrend. QE2 will likely be $1.5 trillion + not including any swaps.  QE3 has been mentioned already.

There is no stopping the technical trend without a fundamental change, not considering volatile short term price movement.

Thank you Jim and Thank you David. All the Best.

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