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Raid used to cover shorts

May 2, 2011

**update – not sure why but the original link was taken down

Interesting Article indicating that the major drop in silver price last week was triggered to cause panic selling. The people short can then swoop in and buy up everyone else’s sales. Put this in conjunction with the 2 margin hikes last week and ANOTHER today and this conspiracy thing gets more legs.

Banksters Covered 26 Million Silver Oz Short Position
By Silver Shield, on May 2nd, 2011
The CFTC released it’s commitment of traders report for the last Monday’s Silver Smack Down. And it shows the big guys used the raid to cover -5,209 short contracts (each contract is 5,000 oz. of silver) which is a little more than 26 million ounces of short silver. I wonder how much they covered with a much larger raid last night? This is a huge development. As soon as these guys either cover their shorts or they fail to deliver the physical metal it will be game over. (Remember we have less than 38 million ounces in the registered inventory of the CRIMEX. World wide silver production is 735 million ounces and the banks are still short 258 million ounces or 51,644 contracts. They have a long way to go.)

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