The Silver Market: Some Call it CRIMEX
Source: Investor's Daily Edge (6/24/09)
"Why would anyone put money into a manipulated market?"
I wrote a silver article 4½ years ago entitled Silver: Anatomy of A CRIME(X). In that article I compared activities at the COMEX market to prior incidents at Long Term Capital Management, Enron and Arthur Anderson. I screamed from the rooftops that fraud and abuse had gone "metastatic."
Since early 2005 you've seen the cancer spread via Fannie and Freddie, Bear Sterns, AIG, Lehman Brothers and others. Few people yet understand that the entire system is corrupt and failing.
The present age of crooked markets really boil the blood!
You should expect CRIMEX to join the long list of failed and disgraced financial institutions. There are incredible strains on this market right now as month-to-month delivery battles transpire.
It will never be the SEC or the CFTC that cleans up CRIMEX. You can pen pal with these blokes forever and it will do little more good than scolding the mafia. Now there is a very realistic opportunity, however, to end the decades of abuse by this market.
Large international players are now engaged in calling the bluff of this New York market. COMEX silver is largely a "paper" exchange with only small amounts of physical metal being taken delivery of on an historic basis. That is now changing as more and more players insist on physical silver and gold instead of risky promises.
Why would anyone put money into a manipulated market? Manipulations against long-term trends are pure folly.
More and more people are using my CRIMEX moniker. Make sure you have plenty of physical metal before this scathing term is in the national news.