The Phaserl


$2 Billion in Cash Would Make Silver Short Positions UNCOVERABLE — Rick Rule

Rick Rule from Sprott Global Resource Investments joins us to talk about everything precious metals. This is a must-listen interview packed with lots of bullish info, but towards the end of the interview Rick really cuts to the chase: “The idea that silver can be manipulated down ignores the fact that it could easily be manipulated UP.”

Rick continues, “And the consequence of two years of extraordinary physical demand in the face of the unwinding of the leveraged long carry trade in silver expressed in SLV and expressed in the futures markets, tell me that it will be easier to make money manipulating the price of silver UP than manipulating the price of silver down. And my suspicion is that the commercial interests in manipulation will ultimately do the easiest thing to do. If there was $2 Billion employed, not on margin by the way, cash – so the rules could not be changed like they were on the Hunts – $2 Billion in cash employed in the futures markets, which was held for delivery cleaning OUT the good delivery silver that’s available, the short interest would LITERALLY be uncoverable.”

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31 comments to $2 Billion in Cash Would Make Silver Short Positions UNCOVERABLE — Rick Rule

  • AK

    Sean and Rory,
    What a fantastic interview!
    Rick Rule is an absolute genius and what a treat to hear his thoughts on SGT!

  • Phil Downunder

    Brilliant interview, Sean and Rory,

    Ya gotta love Rick’s dry sense of humour and sardonic wit!!

    We’re all looking forward to “the Religious experience” the manipulators are about to be handed. Anyone know anyone with around $2 billion cash?? (Not me)

    It’s nice to know guys like Rule, Sprott,Embry and Faber(et al) are in our camp!!(or are we in theirs??)

    I loved Rick’s KWN interview as well.

    • SGT

      I chuckled when he referred to Sprott’s high finance intelligence being exemplified by the fact the Rule works for a company named Sprott, while Sprott does not work for a company named Rule. Pretty funny.

  • JC

    I love Rick, but rest assured that this is not the 1970s. China, Russia, Brazil, etc. were not sitting ready to take over the world economy at that time. What was US debt at that time? Did derivatives and rampant financial crime exist at this level?

    I agree that you take care of your family first and invest aggressively second, but this event is really not going to be saved by Henry Kissinger running over to the Middle East to negotiate another deal. Not happening. We are screwed and you should prepare accordingly.

    • Jeff

      I’m with you on that one JC. I love listening to Rick and nobody better to interview him than SGT but I’m all in on the phyz. Knowing full well that I might risk the leveraged “tremendous upside” later for peaceful sleep now is OK by me. Thanks SGT team for another fantastic interview.

  • John

    Had to chuckle when he called silverbugs manic-depressives. Tis true, instead of buying a truckload of silver at current depressed prices, they mostly bitch and moan instead about the price. Then when price begins to ramp up and doubles or triples they are now convicted of their investment and begin buying at much higher prices. It’s a head-scratcher.

    Really enjoyed this interview.

  • Cassandra

    It’s spooky how the super-wealthy are just ignoring and leaving all this ‘free gain’ on the table…

    WHY WHY WHY doesn’t some billionaire step up to the plate and buy up all that silver? With the prospect of perhaps doubling, tripling — or MUCH more — their money in a short space of time? They must be really scared of JPM and the forces backing tHem…

    What about foreign billionaires, private wealth consortiums, or hostile nations sovereign wealth funds ?

    • SGT

      It’s a great question. One might conclude its because billionaires became billionaires by playing within the system. Straying too far outside those bounds and biting the hand that feeds you could lead to big trouble. The Hunts learned this lesson. That said, it’s a changing world and men like Sprott have picked up where the Hunts left off to some degree, Sprott’s PSLV is backed by real physical metal, and it took him a very long time to source and secure it.

    • Newfie

      Look what happened to the HUNT brothers.

    • Ed_B

      “WHY WHY WHY doesnā€™t some billionaire step up to the plate and buy up all that silver?”

      Why not, indeed? Actually, Sprott was asked that very question and his reply was “Because I don’t want to have to check under my car for a bomb every time I get into it”. Not sure if that was a joke or what but it might not be one.

  • Eric

    Sweet! Great Stuff. Thanks guys and much thanks to Rick for the interview.

    I’m ready for my religious experience! šŸ˜‰

  • Troy

    I get paid tomorrow, so that means I’m going to take another 20 ounces off the market.

  • mark s mann

    Great Job SGT Crew!

    I have always respected the views of the folks at Sprott. If there are any “good guys” out there in the PM community, I would have to put them at the top of the list.

    As much as I agree with Rick’s assessments on the markets, part of me still thinks that the fundamentals are irrelevant for the short term. In such a manipulated market the criminals will always win the day. Any moron who says there is no manipulation clearly does not understand basic principals of supply and demand, and the examples are numerous. I wish I could hit the people involved with the “investigations” into manipulation over the head with a 100oz Johnson Matthey bar. maybe that would knock some sense into them. In my opinion they are also criminals for allowing the crimes to continue.

    I think the only thing you can say with 100% certainty is that precious metals are like “ballistic precious metals” …..its better to have them and not need them, rather than need them and not have them. If time is on your side, you are even better off.

  • Troy

    China should just buy up the silver….they surely have enough $100 US bills to spend…they probably have mountains of em.

  • Tony

    Great interview, I really enjoy listening to Rick. Thanks to all three of you.

  • Slvrizgold

    If billionaires wont step up can we just get a couple thousand multimillionaires to step up and buy a million dollars worth of silver? Why does Apple waste $19B buying some stupid app company when they coud buy all the available silver in the world many times over and still have money left over? All the silver that exists today is worth less than a single BS social media stock.

    Oh well, they keep laying piles of money in the corner for me to walk over and pick up. Real money. When silver is triple digits later this decade the money honeys on CNBS will be asking if maybe silver is a hot buy now.

    • Ed_B

      “When silver is triple digits later this decade the money honeys on CNBS will be asking if maybe silver is a hot buy now.”

      Perhaps, but I doubt it. These are the same “money honeys” who did not seem to notice that gold was up 500% and silver 600% from 2000 through 2011. If a stock does that well, they get practically orgasmic about it.

  • Tom Aumeg

    The supply of silver will come to the market when the price is sufficient. No short is uncoverable, only expensive.

  • Rick is one of my favorite thinker/talkers in this space. Sharp and funny!

  • Hannon

    Perhaps, when the Olympics end in a few days, Putin can plunk down the cash and threaten to blow up the silver market if the State Department doesn’t back off in Ukraine? That would be my move.

  • peter

    Now what does that tell you?!?!? They want WAR!

    PUT THAT INFO OUT SEAN, that changes the goalposts a bit, doesn’t it?!?!

  • Jacobson

    The Iraqi people want to thank you americans for the freedom and liberty :

    Thank you very much , job was done , now let’s get some gold .

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