- Don’t Let The CPM Group Feed You A Bag Of Brown Stuff About Silver
The CPM Group and its proprietor, Jeffrey Christian, has operated as one of the “analytic” fronts for the western Central Banks’ paper derivative gold and silver manipulation scheme for many years. Someone sent me the CPM Group’s latest commentary on silver in which it expresses the view that the price of silver will “fall dramatically” after the September silver contract “roll” on the Comex is over. You can read the brief report here:
CPM Market Commentary 2019-5, Who Is Buying Silver, It’s The Comex Shorts, 2019-08-28
To begin with, the paper price of silver is not being driven higher by short-covering on the Comex. In fact, the big banks/commercials, as well as the “other reportables” and retail traders per the last COT reportadded over 10,000 contracts to their short position last week. Let’s be clear on one thing, and the years of evidence supporting this is overwhelming, the only time “short covering” drove the price of silver higher was in early 2011 when the big banks were forced to scramble for cover and ran the price of silver close to $50.
The price of silver drops when the big banks short thousands of contracts in an effort to cap a price rally or drive the price lower.