Friday, March 23, 2012

It wasn't pretty for the FED - The Silver Storm

A mauling of the first order, occurred on Feb 29 when Ron Paul lectured Ben Bernanke about his failure to maintain the purchasing power of the US Dollar during his tenure as the Chairman of the Federal Reserve Bank.
  The entire four and a half minutes were an acute embarrassment to Chairman Bernanke for Dr.Paul conclusive established his point much to the Chairman's visible discomfort.  The real fire works start at 2:00 in this video.


  This in my mind establishes the vehemence of the subsequent tsunami of paper silver, unleashed that day, which say the paper equivalent of approximately 500 MILLION oz of silver sold in a very short period, which ONLY managed to move the price of silver down $2.50 which clearly establishes IMO, the power of the Physical Silver Market underlying such demand.  It also again emphasizes how easily the COMEX is finding itself sliding into irrelevance.

I include one small graphic to make my point......