Relevant:
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- Silver Could Spike to $50 Based on Short Positions That Need To Be Bought Back
- Silver Delivery Problems Expected: GATA, Sept. 4, 2012
- Banks Are Manipulating Gold and Silver Markets
- Ted Butler: Working Group On Capital Markets (PPT) Likely Protecting JP Morgan From Silver Derivatives Mega-Loss
2012-10-16 — roadtoroota.com
The below brief is courtesy of today's GATA "Midas" newsletter. Is the "hot potato" being offloaded to Citigroup for an eventual cliff-push? --
The Citigroup Issue is SILVER!Hi Bill --
Just a note to the Café that the resignations of the CEO and COO of Citigroup is most likely related to their Silver Rigging operations. In 2012 they have become the 2nd largest silver derivative holder after having almost no silver exposure in 2011.
As of the last report they held $9.5B in silver derivatives adding close to $5B per quarter for the first 2 of 2012.
It's all in the OCC Derivative data on table 9.
http://occ.gov/topics/capital-markets/financial-markets/tradin
g/derivatives/derivatives-quarterly-report.html
I'm giving a full breakdown in my speech at the Silver Summit.
All the best,
Bix
www.RoadtoRoota.com
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