Open Letter to JP Morgan and HSBC
Nov 09, 2010
Richard Daugherty has been advocating that people buy silver for a long time, believing that there is a looming shortage of actual silver. He has also been angry with JP Morgan and HSBC for manipulating the silver prices downward when they should have been steadily rising.
Then he realized that he should be thanking them for allowing him to buy so much silver for so long at such low, low prices. The silver manipulators made silver a very good long-term investment, even if the day traders got scalped along the way.
I can appreciate the humor in his open letter:
Dear JP Morgan and HSBC scumbags,
Thank you for manipulating the price of silver so unbelievably low by your corrupt naked-shorting So Freaking Much (SFM) “paper silver,” which allowed me and so many others to buy silver at low, low, bargain prices for all these years, which we did because we understand Austrian business-cycle theory and thus know that the treacherous Federal Reserve creating so much money will lead to terrifying inflation in prices, and we know that gold and silver will rise as the buying power of the dollar falls.
And especially silver, which is the subject of this note, and which should be selling at $90 Right Freaking Now (RFN) to maintain its historical 15:1 ratio to the price of $1,350 price of gold, which, too, is manipulated and thus destined for higher prices, dragging silver along with it.
And now both of these precious metals will go much, much higher from here because the treacherous Federal Reserve is literally asking banks and Treasury-debt dealers how many trillions of dollars of new money the Fed should create! Inflation will soar!
So, thanks again, scumbags!
Mixed Feelings in Florida.