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Andrew Maguire: Investment banks don't have all that metal
12:16p ET Monday, October 1, 2012
Dear Friend of GATA and Gold (and Silver):
Silver market manipulation whistleblower Andrew Maguire has rebutted the recent assertion of an anonymous metals trader that the big investment banks have the gold and silver to back up their short positions in the futures markets. The anonymous trader, Maguire writes, has not taken derivatives into account, nor has he noted the difficulty in getting deliveries. Maguire's commentary, taken from his proprietary market letter, is posted at Turd Ferguson's TF Metals Report Internet site here:
http://www.tfmetalsreport.com/blog/4230/guest-post-andrew-maguire-respon...
Meanwhile, silver market analyst Ted Butler, first to expose the manipulation of that market, writes today at GoldSeek's companion site, SilverSeek, that the big issue of manipulation remains the concentrated short position held by JPMorganChase. Butler's commentary is headlined "Arguments Against Silver Manipulation" and it's posted here:
http://www.silverseek.com/commentary/arguments-against-silver-manipulati...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet
at Wellgreen Project in Yukon Territory: 5.36 g/t
Company Press Release
Tuesday, September 11, 2012
VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel.
The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace.
Prophecy Chairman John Lee commented: “Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly.”
Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs.
For the complete company statement with full tabulation of the drilling results, please visit:
http://prophecyplat.com/news_2012_sep11_prophecy_platinum_drill_results.php
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 24-27, 2012
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
http://www.neworleansconference.com/
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http://gata.org/node/wallstreetjournal
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GoldMoney adds Toronto vaulting option
In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada.
GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold.
Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order.
GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults.
It's easy to open an account, add funds, and liquidate your investment. For more information, visit:
http://www.goldmoney.com/?gmrefcode=gata
