Gold News

Wynter Benton's Bizarre Silver Price Promise

Someone on the internet has promised they will move the Silver Price this week...
 
A MYSTERIOUS group of traders billing themselves as "Wynter Benton" is promising to move the Silver Price in a big way during the next few trading days... on the way to $50 before year-end, writes Addison Wiggin at the Daily Reckoning.
 
"The Leader wishes to inform our followers that the group will be demonstrating our ability to move the price of silver between Oct. 16 to Oct. 23, 2012," according to a post on a Yahoo! Finance message board. "We will be updating our moves in real-time during this period."
 
Yes, we're getting deep into the conspiratorial weeds here. But in the midst of contemplating the crimes of politicians and central bankers, to say nothing of "The War on You", we need an amusing diversion now and then.
 
"Wynter Benton" purports to be a group of former JPMorgan Chase commodities traders who say that JPM engineered the meltdown of MF Global a year ago because the traders were trying to take delivery on a huge amount of physical silver. (How that was supposed to work, we're not sure, but it's fun to play along...)
 
The traders — or the lone fantasist posting in his underwear, depending — made several prescient calls in the silver market in early 2011, but disappeared from view after the MF Global episode.
 
Wynter Benton reappeared a month ago, promising silver will trade above $50 before Dec. 31, 2012. And last week, he/they promised the demonstration of his/their ability to move the silver price, starting today.
 
In all likelihood, nothing will come of it. But in case it does, we have it on the record. Heh...

Publisher of Agora Financial, Addison Wiggin is also editorial director of The Daily Reckoning. He is the author, with Bill Bonner, of the international bestsellers Financial Reckoning Day and Empire of Debt, and best-selling author of The Demise of the Dollar.

Addison Wiggin articles

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

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