This has been the best day I have seen in silver, up $1.52 in a day to 30 year+ highs. There are rumors swirling behind this latest rise that the socialist president of Bolivia, Evo Morales, is going to nationalize the largest pure silver miner San Cristobal, on International Workers Day, May 1st. I have no doubt that he will do this and this will take tons of silver off of the market and cause massive uncertainty to the already strained paper silver market.
Let this be a lesson to all of you who are trying to play this market with anything other than physical silver in your possession. Stay away from silver miners (they will be confiscated, even American and Canadian miners), stay away form the ETFs (they are a paper fraud), stay away from unallocated silver accounts, stay away from numismatic silver, only buy the physical bullion in your possession.
A massive upswing in silver prices will attract buyers like blood in the water for sharks. This will cause massive dislocations in the silver market and hopefully lead to a physical default at the CRIMEX. Once there is a default in the CRIMEX all bets are off of the table, because that is just the tip of the iceberg of the massive global, inter generational, quadrillion dollars Ponzi Scheme.
Oh and to add on to this perfect storm we are going to going to be running the Silver Drudge Report Bomb the week before they nationalize the mine. This also happens at the beginning of another delivery month. The Silver Shorts are going to take it in the shorts soon. At what price do you think ole’ Bob admit he was wrong? Or Blythe hits the bottle?