Silver Is The Most Manipulated Market In History

The price of paper silver has been mauled since Janet Yellen and her band of FOMC merry clowns released their policy statement last Wednesday which made the claim that there was strong possibility that the Fed would hike its Fed Funds rate in December.   Silver is now down 8.5% since that statement hit the tape (click images to enlarge):

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But as you can see, silver is still in an nice uptrend, up over 7% from the bottom it hit in late August.  Of course, in testament to just how manipulated the markets are, the S&P 500 – which should have experienced the same type of sell-off as silver and gold on the threat of higher rates – is up 1.3%.

Part of the reason silver may be getting hit is the news of a report from the investment conference in New Orleans last week that some company had invented an aluminum-based replacement for silver used in solar panels.  Obviously, if this were true, it would impact the amount of silver going into India (see this report in which the U.S. exporting 100’s of tons of silver India).  And it would impact the amount silver China is using in the development of its massive solar program.

However, if you investigate the “beneath the surface headlines” of this claim being made, the Company has not proved its technology works or is practical in commercial applications.  I’ve seen at least two claims by companies over the last 10 years that they’ve developed a pill to cure alcoholism. Still haven’t seen that cure  hit the market.  And for how many centuries has the world had to endure claims from “scientists” who state they had figured out how to convert lead into gold?  As for this company’s claim?  I’ll believe it when I see it in action.  Until then, it’s nothing but hot air.

Feel free to read the source story here:  Natcore swaps silver for aluminum in solar cells.

Until proven otherwise with real life, profit-making applications, I believe that this story will fall into history’s dust-bin of false-flags.  Seems a bit coincidental that this story emerges just as the Fed/bullion banks are in the process of raiding the paper precious metals markets…again.  The only thing missing from this story is Jordan Belfort (the Wolf of Wall Street) resurrecting his old Stratton Oakmont penny stock brokerage and taking this company public.

The anti-gold/silver propaganda is reaching epic levels again.  It also happens to coincide with another multiple-day run on the gold in GLD and a record-breaking run up in the paper/gold ratio on the Comex.   The paper to gold ratio at close to 300 is nothing more than a reflection of how desperate the banks are becoming to keep a lid on the price gold/silver.

This paper to underlying deliverable physical commodity ratio is many multiples beyond the ratio that the CFTC and CME allow in ANY other commodity market. It completely destroys the purpose of futures markets.  It’s crystal clear that gold futures were introduced in 1974, one year after the U.S. devalued the dollar vs. the yen and Paul Volker admitted over 20 years ex post facto that the Fed made a mistake not preventing the price of gold from moving higher when the dollar was devalued.  They couldn’t manipulate the price of gold in 1973 because gold futures didn’t exist.

When history looks back on this period, one of the biggest official frauds will be the Fed’s empty threat of raising interest rates and the world will understand how and why it was used to help keep a lid on the precious metals. PCR5  But most of us who have been involved in this market already know the reason…Et tu, Janet?

This commment from “Martin” is most apropo with respect the aluminum for silver claim:

I remember the year 2011 whcen the German company Schott AG made the announcement that they had developed a solar cell completely void of silver. They said they successfully replaced the precious metal by copper. I could not find their press release, but found some news about it in the Internet: LINK So now 4 years have passed. I have not heard since then that silver in solar cells has been replaced by copper. So I do not put to much confidence in any such news in regard to solar technique that silver may replaced by some other metal. At least not on a big scale.

21 thoughts on “Silver Is The Most Manipulated Market In History

  1. The aluminum story is complete bullshit. You can’t change the physical properties of aluminum and silver. The reason why silver is used for solar panels is it’s reflexion property. (Some people think it’s for their low electrical resistance. But this is another bullshit story.) Silver is simply the best in this regard and there is noreplacement for it!

    1. Hey, before I add that comment to my article, are you an engineer or chemist or something? I.e. are you qualified to make that statement?

      1. I studied physics and know for sure the basics. You don’t need more than the very basics to judge the article.

        I didn’t even read the Natcore article before because I know all these nonsense stories from the solar business showing up every now and then. But anyways a quote after having just read the article:

        Although it boasts high conductivity, silver is very expensive.

        Again this is not the reason why silver is used in solar panels. If it were just for conductivity silver would have been replaced long time ago. The most reflective material on Earth is silver. Silver shows weak reflectivity below around 300nm but above it is simply the best and the reason why it’s used in the solar energy business in the first place.

        Then later in the article they come up with copper! The researchers focused obviously only on the conductivity of the tested metals but not on the important reflectivity of it. This article is very misleading.

        From Wikipedia: https://en.wikipedia.org/wiki/Silver

        Silver is a … soft, white, lustrous transition metal, it possesses the highest electrical conductivity, thermal conductivity and reflectivity of any metal.

        And again, silver is used in the solar busines not because of its conductivity but for its reflectivity.

        1. I appreciate Michael’s comments about silver reflectivity. I too thought that silver was used due to its superior electrical conductivity. If that was the case then copper could be used as a substitute because it is a close second to silver as far as conductivity is concerned.

        2. Please. I strongly suggest the readers do their own research beyond Wikipedia. Many companies making headway with alternative solar materials.

          The one I have tracked for many years is dyesol.com off the ASX. They have evolved their technology the last few years to use perksovites and titanium oxide. Power generated all day long. No need for direct sunlight. Will be inexpensive targeting grid parity.

          They have made it through the first phase of efficiency testing. Second phase coming up. Roadmap is thin film in glass first then rolled metal. Check their roadmap, grants, partners.

          New solar tech companies have to get out of the lab and into testing and production. Most are a long way from just getting out of the lab.

          1. The link to Wikipedia was just for reference. I didn’t base my research on it. OMG!

            Of course you can build solar panels out of all kind of materials. But you will never gain the efficiency of solar panels made of silver because of its reflectivity properties. You mention dye sols? Are you kidding me? Just compare the efficiency of dye sols to silver sols. Do your research and don’t talk crap, bigmouth!

        3. The reflectivity of silver has absolutely nothing to do with its utility in solar cells. It’s all about its conductivity and ability to be maintain that conductivity in very fine gridlines.

          In fact, you don’t want reflectivity in a solar cell — precisely the opposite.

          The Natcore cells are also back-contact cells, and eliminate the front-contact gridlines that block light from being absorbed.

          Regardless, the ultimate elimination of the solar cell market will happen, much as the photography application was eliminated with the progress of technology. But silver is such a versatile metal that other applications will emerge.

          And the ultimate driver of silver prices will be monetary demand in any case. And those factors assure much higher silver prices over the long term.

  2. bonds might be up there, too…read last line….how many others?????????

    Tilton’s Patriarch Partners Files Suit Against MBIA as Maturity on Zohar I CLO Looms http://ow.ly/Ufws2

    Patriarch’s attorneys argue that MBIA conducted an “elaborate ruse,” as the insurer never intended to an extension but rather made such an offer in order to get more of Patriarch’s money and gain leverage in further negotiations around a restructuring of the Zohar I and Zohar II CLOs.

    Lawyers representing Patriarch acknowledge the difficulty the Zohar I currently faces in repaying noteholders. “The financial crisis hit the portfolio companies hard and as a result the turnarounds did not happen as quickly as had been anticipated. More time beyond the stated maturity date of Zohar I was going to be needed to create value and pay off the notes,” the attorneys for Patriarch stated. Moelis & Company was hired by Patriarch in October 2013 as a restructuring advisor to work out an arrangement between Patriarch and MBIA.

    The collateral in the Zohar CLOs is much different from the issuers that are often widely syndicated in the CLO market. The companies issuing the loans are all Patriach’s portfolio companies, and include a helicopter company, fire engine company, military armored vehicle company, building supplies manufacturer, and an imaging company among many others. Those loans have then been securitized into the Zohar CLO vehicles, since Patriarch is also the collateral manager and equity holder. In the instance of a default though, MBIA would become the controlling party, according to the governing documents of the CLOs.

    The complaint says MBIA was reluctant to offer an extension because the insurer still lacked “full and unfettered access to information regarding the collateral and the borrowers,” which an executive at MBIA had written to Tilton in April.

    A spokesperson for MBIA stated that the firm was “disappointed by Ms. Tilton’s effort to deflect blame and attention from her own performance and legal issues,” arguing that this complaint filed is “littered with false statements.” MBIA did acknowledge though that it would honor any payment obligations associated with the upcoming maturity of the Zohar I.

    The SEC also brought fraud charges against Tilton and Patriarch on March 30 over the firm’s valuation of its portfolio companies loans. “Nearly all valuations of loan assets have been reported to investors as unchanged from the time they were acquired despite many of the companies making partial or no interest payments to the funds for several years,” the charges from the SEC allege.

  3. I think it’s investment demand that’s driving silver prices’ in places’ like India, all of these “emerging market” place’s generally have a history of .Gov money printing, but of course all these “industrial use” “interest rate” memes’ are great for the extend and pretend crowd. Of course here in Oz we can always’ buy totally useless greenbacks’ like that idiot shill that has been polluting your blog recently has been suggesting. I just hope these morons’ are dumb enough to try to take silver below $10 US they are about to discover scarcity and money are not mutually exclusive.

  4. I remember the year 2011 whcen the German company Schott AG made the announcement that they had developed a solar cell completely void of silver. They said they successfully replaced the precious metal by copper. I could not find their press release, but found some news about it in the Internet: http://www.elektronikpraxis.vogel.de/elektronikfertigung/fotovoltaik/articles/342769/
    So now 4 years have passed. I have not heard since then that silver in solar cells has been replaced by copper. So I do not put to much confidence in any such news in regard to solar technique that silver may replaced by some other metal. At least not on a big scale.

    1. Like Theranos, time will reveal the truth. Most of these flawed ideas (assuming they’re not lies) just quietly fade into the sunset.

      Recent quote that seems fitting to this post: Honesty pays very slowly and it doesn’t pay consistently.

    2. Great reference! And so entertaining to read after all those years!

      This is what I mean by the typical BS stories of replacing silver with something else like aluminum or even copper showing up every now and then in the solar industry! Copper to replace silver in solar panels?!?!?! Give me a break!!!

          1. Threats, Michael Penthouse?

            It is very common knowledge that silicon based panels have the best efficiency today. The efficiency window being best exercised between the hours of 10 and 2, stronger at mid latitudes in direct sun, colder weather optimally.

            The point is to remove those constraints. Power generated all day long. Clouds or no clouds. No issues with shade taking out an entire panel array. No temperature issues. More exterior coverage, such as entire sides of all buildings, not just parts of roofs, albeit with less efficient cells, but which are dirt cheap in comparison, and non toxic.

            Solar panels require clean rooms for manufacturing, clean rooms which are expensive to build and require a lot of power to operate, 2/3 an ounce of silver which will at some point be astronomical in price, and panels which must be incinerated after end of life. Example chemicals emitted include silicon tetrachloride and sulfur hexaflouride.

            So it’s not just about a panels total efficiency, or the qualities of silver. It’s called grid parity.

            This is a professional site. Readers should be encouraged to evaluate the technology AND the business model, and include the bigger picture which is found in cradle to grave analysis measured by life cycle analysis.

  5. There have also been multiple fruitless press releases about how this or that company had figured out a way to produce something called “graphene” (a super thin sheet of carbon atoms) industrially so no one was ever going to use silver again for its conductive properties. Funny thing is, one sees press releases that it’s been invented but one never sees press releases that it can be reliably produced.

  6. Silver is on sale a whopping 18 cents after the glorious payroll print. Big deal.
    Anything these assholes do to make it cheaper is fine by me. Suckers.

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