Normally when Bernanke speaks metals react by going up. The Cartel knew that, so they were ready. They DUMPED 225 MILLION ounces of Silver (Paper) on the market as Bernanke was speaking.
The first minute of the video, is Barney Frank, kissing Bernanke's ass, telling him to ignore the negative things people are saying about the Federal Reserve and what a great job Bernanke is doing. (Yeah, I almost threw up over that absolute ass kissing B.S!)
Ron Paul starts at 1 minute in this video - the Silver Eagle (update 3/1/12, I understand it was a "Silver Circle" coin, from the movie that will be coming out in May, not an Eagle) ounce is taken out by Ron Paul at the 2:45 minute mark. Says the one ounce in 2006 would buy 4 gallons of gas, today it buys 11 gallons of gas. It is what is holding people's wealth, not fiat currency. Ron Paul has Bernanke admit Silver IS money at the 5 minute mark. Bernanke says "Gold and Silver, are another currency!"
Portion From the SilverDoctors.com regarding the DUMPING of 225 Million Ounces of Silver (Paper)
For those who claim these immediate waterfall gap-downs in both metals were as a result of Bernanke's dissapointment in no further QE, please realize this occurred exactly as the full report was released, and note the massive paper volume of 225 MILLION OUNCES OF PAPER SILVER OVER 30 MINUTES used to smash gold by $65 and silver by $2!:
Here is what I personally think about that dump... the Cartel took Silver down $2 by Dumping 225 Million Ounces today. Think about this... they were only able to take down Silver $2 with that dump which is what it raised yesterday! So.... Silver is being resilient and holding! They are running out of options and shorts! They are playing their last straws. Silver held today, if they had dumped that amount 3 years ago Silver would have gone down $10 or more, it only went down $2 today!
I just now figured out. The last COT (commitment of Traders) report for the comex has 70,000 commercial shorts Silver contracts listed. I then took 225 million and divided it by 5000, which is one Silver contract on the Comex. That then comes up to 45000 silver contracts that were dumped today by the commercials.
That means they dumped over 1/2 of their shorts on the market today in half an hour and it only took Silver down $2! I am sure they were expecting it to go down $20 or more! They used over 1/2 of all that they have to smack it down! Silver WON! This is huge in that they don't/won't have all the shorts to keep manipulating the market!
I spoke to David Morgan of Silver-Investor.com he agreed with me that lots of paper silver was being sold to drive the market DOWN! Further, that much selling in the past would have had a far greater effect. David Morgan said, he was suppose to be interviewed by Max Keiser today, but that got delayed. David Morgan wants to help further the silver cause and plans to ask Max to restart his "Buy a Silver ounce." Who knows maybe Max will say something like buy a "Silver Eagle" and help - "Bust the Comex!" This is just a guess from what David Morgan told me, but stay tuned, as the silver market continues to be one of the best stories on the Internet.
11:20 PM 2/29/12 - Gold is UP $24.30 to 1722.30 and Silver is UP .47 to $35.11. Looks like the Asian market is thanking the cartel for what they did today and buying metals. What a FAIL today for the cartel.
Ron Paul I believe woke more people up regarding Silver. That was very powerful him holding up the Silver Eagle and showing the physical metal. I have even had someone contact me who has never considered purchasing metals before and asked if I knew of where they could purchase some. More people will look at Silver I believe due to Ron Paul doing what he did today.
This seller was definitely not interested in losses, what they were interested in was suppressing the price. What happened yesterday was insignificant from the point of the ongoing overrunning of the fiat money crowd.”
We have to start with silver because that is what most people will be using, not gold. As long as there is paper money, gold will not be used as money, it will be hoarded. But silver can be used as money, together with this fake money that people all over the world are forced to use.”