An Absolutely Stunning Development In The Silver Market
KingWorldNews.com
July 28, 2012
Today King World News is reporting on an absolutely stunning development, this time in the silver market. Acclaimed commodity trader Dan Norcini told KWN that in the silver market, “… the hedge fund outright short position is the largest position that I’ve got on my records going back to the beginning of 2007. We’re talking about a five and a half year period.”
Norcini also noted there would be a huge move in silver, “if they (hedge funds shorts) get caught on the wrong side of that market … because all of those shorts are going to head to the exits at the same time.”
The acclaimed trader also discussed hegde fund problems in the gold market, but first, Bill Haynes, President of CMI Gold & Silver, had this to say about QE: “Eric, it’s guaranteed, it’s just a question of when. Probably within a few weeks. Subastian Mallaby, a contributing editor to the Financial Times and a member of the Council on Foreign Relations, in Wednesday’s Financial Times, chided Bernanke and the Fed for not showing some audacity, some aggressiveness in attacking the problem of an economy that will not get going.”
Bill Haynes continues:
Mallaby congratulated Bernanke for his massive money creation in 2008, and said the market needs more of the same. But Mallaby criticized Bernanke for buying only Treasury bills today, noting that in 2008/2009 the Fed bought ‘toxic securities.’ He also said that the Fed backstopped the money market funds. It was an aggressive move. It was the type of thing they expected the Fed to do, but that’s not what’s going on now.
You don’t get any more establishment than the Council on Foreign Relations, and these people are (now) saying that the Fed needs to do something….
The Rest…HERE
