Posted by Dominique de Kevelioc de Bailleul on Sep 14, 2012
By Dominique de Kevelioc de Bailleul
It’s finally here—the long-awaited run on silver supplies.
Speaking with Alternative Investors Hangout (AIH), GATA’s Bill Murphy tells investors, “Just pay attention, right now,” because the buying is so heavy in an unprecedentedly tight silver market, we “don’t know what will happen here; it’s historic.”Continued below.
And investors should, indeed, pay attention to Murphy’s latest assessment of the silver market. In July, he said an unidentified European billionaire told him to expect the bull market in silver to resume in late August.
“The fellow I spoke with I’ve known for years, one of the wealthier men in all of Europe,” Murphy told SGTReport in late July [BER article]. “He’s got a lot of connections . . . It will be tough for the gold and silver markets [during the month of July], but starting in August they would start to ‘go nuts’, and they would ‘stay nuts’ for a long time. . . Big, big moves are coming, starting in August.”
After 15 months of a painfully long consolidation, the big move in the silver price began, just as Murphy’s source predicted. After briefly toughing the low $27 level, silver has soared more than $7 withing three weeks, a gain of approximately 27 percent, or an annual compound rate of 6,500 percent!
Reminiscent of Andrew Maguire’s demonstration to the CFTC of his intimate knowledge of JP Morgan’s nefarious activities in the silver space, Murphy believes his source is well-placed and able to leak accurate information to investors as it comes available. Hours after alerting media of Maguire’s meeting with the CFTC, Maguire and his girlfriend were attacked by a would-be assassin with a speeding automobile.
Moreover, the absence of King World News’ anonymous London trader has fueled speculation that Anonymous has moved on to Bill Murphy, who may also inherit DOS (denial of service) attacks following leaked information published by King world News.
“Because of my sources . . . when . . . this was in July, that gold and silver were going to base, [then] take off before the end of August and go to all-time highs, much higher, and that’s what’s happening,” Murphy tells AIH.
Another one of Murphy’s sources told him the silver market is so tight that the poor-man’s gold could touch $100 in another mini mania replay of the Aug. 2010 to April 2011 bull run that took silver from $17.50 to pennies shy of $50—a near-triple within eight months.
A similar move today, off $26.50 baseline support, equates to a target price of $75, but, according to Murphy, this next move in the silver price could eclipse that exciting jump which began in the summer of 2010—both in amplitude and time frame.
“I have other sources tell me the silver market is as tight as they’ve ever known in history,” he says. “I expect silver to go towards 80 [dollars] to 100, quickly. I know that seems like a big thing, but that’s what I think.
“All I know is: the physical market, if you want to buy silver in size, is the most difficult in history. These are from my best sources. We’ve been right on everything so far; now, we’ll see what happens.”
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