Tremendous Silver Gains to over 29 US$ per oz...

Hi everyone, here some information that I would like to share....

Enjoy.......

The last month has seen tremendous silver gains to over 29 USD per oz followed by a fall back to 25 USD and is now hovering around 27.50 USD. During this time a number of important events have occurred that support the case for silver.

Among these:

1. The FED Announced $600 Billion more in QE. Quantitative easing (QE) amounts to massive USD currency creation which is used to purchase US governmental bonds. This amounts to a continued and deliberate value transfer from holders of USD to borrowers. it is not a surprise that this announcement caused silver to soar as more investors and USD holders seek a solid alternative to the USD. Condemnation by US trading partners and USD debt holders such as Germany and China has also become more vocal.
   
    
2. JP Morgan and HSBC are facing a class action lawsuit under the Commodity Exchange Act and the Racketeering Influenced and Corrupt Organizations (RICO)Act for manipulating silver futures. JP Morgan in particular is holding very large leveraged naked short positions in silver which, as claimed by the suit, were used to manipulate the silver price. In other words they sold very large amounts of paper silver (there was no physical silver involved as the paper silver amounts are many times larger than exchange physical reserves) in such a way to cause sudden silver price drops and force small investors to sell their paper silver due to margin and stop order limits.
   
   We had a poll What best describes our thoughts on the Andrew Maquire, CFTC and Price Manipulation and articles on this subject back in July 2010 when silver was trading around 18 USD.
   
   This investigation is relevant because of the scale of money involved and because it has the potential to cause a "short squeeze" as the increasing silver price and the publicity caused by the lawsuit might force JP Morgan to close their short position (by buying silver futures and reducing their silver debt to limit their losses).
   
    
3. On a separate note: we were told by industry sources that large silver short position in Asia have been closed causing some of the rapid price gains

SO SILVER IS BECOMING STRONGER....
Act FAST..........