Fight Back : Crash JP Morgan - Buy Silver15/11/2010 17:08
Even while the Asia-Pacific Economic Council (APEC) adjourns in Yokohama, Japan, with no real agreements, a war is brewing. No, I’m not talking about the currency war between China the America. Nor even the trade war between our two countries. I’m not even talking about the big battle between Manny Pacquiao and Antonio Margarito! However, I am talking about an economic war between two super-powers, The People vs J.P. Morgan-Chase Bank. There’s a guerilla war growing on the Internet to crash J.P. Morgan, and the weapon of choice is silver. Their motto is ‘Crash JPMorgan Buy Silver’!
Why do so many people want to crash J.P. Morgan-Chase Bank? Well, much of the angst stems from the office of JPM’s head of global commodities, Blythe Masters. She rose to power by pushing the creation of those nasty Credit Default Swaps. Remember them? Those CDS contracts that were used by banks like JPM and Goldman Sachs to make billions off of mortgage-back securities that were essentially worthless? They had a great deal to do with the economic Crash of 2008 and all of the misery that has since followed.
Who is behind this effort to crash J.P. Morgan-Chase? A whole lot of ‘little people’, as the head of BP would say. While not an official leader of the movement, my favorite financial guru, Max Keiser, is certainly among those advocating for this plan of assault. For years now, especially the past two, Max has been accusing the banking elite, such as JPM and Goldman Sachs, of ‘financial terrorism’. Indeed, the sudden collapse of Greece appears to be directly related to manipulation by Goldman Sachs. California, and other U.S. states, were largely enabled by banks like J.P. Morgan-Chase to run up massive deficits and become hostages, supported by the thinnest of financial threads.
Why use silver to crash J.P. Morgan? For years, JPM has been very active in manipulating commodities markets. Testimony by financial whistler-blower Andrew MacGuire points a finger directly at JPM for manipulating the silver market on the COMEX. The problem that JPM has is that they are vulnerable, as they have issued more contracts for silver futures than they have physical holdings. So, buy millions of ordinary people purchasing even small amounts of physical silver, which is in short supply, JPM will be unable to cover their positions.
While the Tea Party movement was successful in stopping the Progressives in Congress, and the White House, with their huge victories two weeks ago during the mid-term elections, there has been little done to reign-in the mega-banks of Wall Street. Obama’s financial reform bill only reinforces the bail-out system and handed more oversight authority to the Federal Reserve, another huge mistake.
Could the ‘Crash JP Morgan – Buy Silver’ movement succeed? Can a popular uprising of millions of ordinary people buying silver coins and bullion bars break one of the largest banks in the world? As world leaders wrapped up their G20 Summit and APEC meetings in Seoul and Yokohama, one thing is clear, they are not going to do much, if anything, to stop the ongoing financial chaos. Of anything, they’ll continue to fuel it. So, folks, it looks like it may be up to us to once again to roll up our sleeves and do the job ourselves. Stayed tuned as more developments follow.