jon nadler- jp morgan puppet?

Jon Nadler continues to speak down precious metals....

I don't think Jon Nadler's coomentary should be named "In The Lead". Perhaps a more suitable name might be "At the Rear (of JPM)".

Wonder which idiot put the bet on silver hitting $25- by July.... wonder who he works for?.... getting lots of press... funny that..




Some of Nadler's usual downbeat stuff about PM's...

From:
http://www.kitco.com/ind/nadler/apr122011.html

"At the 8:20 NY time, silver advanced by 43 cents to open at the $40.65 level per ounce. The white metal had dipped to one penny under the $40 mark in overnight trading after having raced across a $2 range on Monday. A gargantuan bet against silver values was placed into position yesterday with the initiation of a one million-share-large put on the iShares Silver Trust (SLV)- at the $25 level by July. The bet constituted the largest single options trade on US exchanges and came as silver was touching the 31-year high watermark near $42 per ounce.

The (as yet) unidentified buyer of said puts is in effect counting on a 37% decline in silver prices by that timeframe. As they say at the Montreal casino: ?Faites Vos Jeux!? ? The bet is on and time will tell who walks away shirtless, or loaded.

ABN AMRO?s monthly report on metals projects 2011?s supply and demand tonnage figures and summarizes the still-in-surplus silver market conditions as follows: Mine supply of silver is forecast to rise to approximately 24,000 metric tonnes, secondary (scrap) supplies are estimated to reach 11,370+ tonnes, and government silver disposals are estimated to reach 350 tonnes (a 40% jump from 2010?s sales levels).

Meanwhile, silver demand from jewellery and silverware is projected to reach 7,218 tonnes while industrial demand for the metal is estimated to climb to 12,543 tonnes. Taking into account an investment demand level about on-par with that seen in 2010 (roughly 8,600 tonnes), the silver market in 2011 is projected to show a "residual" overhang of 7,333 metric tonnes."



This part..."Taking into account an investment demand level about on-par with that seen in 2010 (roughly 8,600 tonnes), the silver market in 2011 is projected to show a "residual" overhang of 7,333 metric tonnes."


I think the INVESTMENT demand will be MUCH GREATER than 2010...... unless of course the banksters and their puppets succesfully psyche people out of holding real bullion.... and convince them that the Fed printed toilet paper is worth more than it really is....

Kind of appropriate the $US has gone to cr@p.