JPM's current paper raid on silver, initiated Sunday night, has now snowballed into the most intense raid in decades. There is even some chatter that the last $10 rise in silver was propagated by JPM just so their well planned attack would be more noteworthy. It may have bought them a few days or even weeks but the volume of physical silver buying should now be extraordinary. Perhaps on their next major raid, they might require at least a dozen or so margin increases with a week's span just to attain the same decrease in the value of paper silver.

Regards - VHF

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Silver Sell Off Hitting Historic Levels

B.I.G.

May 5, 2011

What started off as a sharp correction in silver is quickly turning into a sell-off of historic proportions. With a four-day decline of more than 24% 25%, the sell off in silver is now the eighth seventh most severe in the history of the metal's futures contract. If we were to eliminate periods that overlapped with each other, the current sell off ranks as the sixth fifth worst of all time.