Bob Chapman - gold and silver options will be worthless in case of a default of JPM and HSBC

Bob Chapman - Power Hour - 04-25-2011

Bob Chapman :..I think there will be a default between $55 and $60 dollars (an ounce of silver ) and of course the higher the number is the bigger the default...the American public won't be happy about the FED forking something like 90 billion dollars to bailout JP Morgan Chase says bob Chapman of the international forecaster , not in a time of budget cuts ...in case of a default they will have to shut down the silver bets and may be even the gold bets in the COMEX , secondly gold and silver options will be worthless if the counter party is HSNC or JPM , thirdly this will send the derivatives market upside down ...fourthly the LBMA in London will have the same problems as the COMEX , and finally SLV and GLD ETFs which do not have the amount of gold and silver they say they have and they are holding those contracts ...the price of silver and gold are going to go exponentially higher...