Sunday, June 13, 2010

Quote Of The Year


-  J.P. Morgan, 1912

Every fiat currency system in history has ended in ruins. Our current experiment seems to be headed down the same disastrous path, thus allowing gold to reemerge as a currency once again.

- John Embry, 2010


  1. What about silver?

  2. Harvey Organ Blog

    In the silver side of things we saw a good sized 638,722 oz of silver enter registered warehouses but this silver did not go into the customy inventory. We will have to wait and see how this entry plays out. Still, with two huge delivery months of 24 million and 22 million oz of silver the activity into the warehouses has been on the smallish side. Those longs are extremely patient."

    Alternatively they could be closeted with their lawyers and accountants trying to work out what can really be expected to be delivered before a default is called. Or like the CEF they are taking another hit from the bong and looking forward to the siver arriving in six months on the back of shrink wrapped Brinks van. No hassles man it's only punters money. Take another hit and chill.

    Perhaps the CEF have been getting their market intelligence from Gene Arensberg who seems to think that 46 million oz's of siver can go poof from the COMEX inventory into cyber space. "Other than physical take-down rumors, which are questionable, although not at all impossible, we cannot account for the sudden surge higher for both gold and silver, but especially silver that trading day. Perhaps more will come to light shortly"

    That's life isn't it one day people are clamouring for 46 million oz's of silver and then poof they all disaapear into cyber space, just like that, poof.

    Take another hit from the bong.

  3. Anon #2 - thanks for the post from Harvey's site.

    Anon #1 - J.P. Morgan was rich. Silver is poor man's gold LOL.

  4. J.P. seems to either have not noticed, nor cared that, in fact, massive quantities of gold have been, and are, fabricated into jewelry and objet d'art.