The Phaserl


Do you Really Want to Know Why Silver Was Smashed Today? Ask Citigroup!

by Bix Weir, Road to Roota & SGT Report:

If you are confused as to why the price of silver was smashed under $14/oz today you have no farther to look than the COMEX Silver contract that expires tomorrow!

Somebody…NEEDED to smash silver for that expiration and “somebody” did just that. So who is it? That’s easy!

In the 1st quarter of 2015 Citigroup added over $50 BILLION worth of silver derivatives to their derivative exposure according to the OCC data. This equates to close to 3B ounces of paper/electronic silver. The majority of these silver derivatives were set to expire within 1 year…meaning a large chunk may expire TOMORROW!

In December of 2014 it was Citigroup that put language in the Dodd-Frank Regulations excluding SWAPS….yes, Silver Swaps are included.

Putting two and two together.

Citigroup was today’s silver price rigger. Hell, Citigroup has been the silver price rigger all year!

The good thing is that Citi’s Mega-Silver Derivative positions expired in less than a year and this year is rapidly coming to an end!

May the Road you choose be the Right Road.

Bix Weir
Road to Roota

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19 comments to Do you Really Want to Know Why Silver Was Smashed Today? Ask Citigroup!

  • david

    just sold about 5,000 ounces of physical silver, will get rid of the last 6,000 ounces within the next week, would rather be in paper, would have done much much better

    • SGT

      that’s not smart if it’s true. I personally have acquired an additional 150 ounces over the past two weeks, added 50 more ounces lat night, and 20 more today.

    • dan

      surely you know not what you do……may you be the only one to suffer for your folly….amen

    • chuck

      Wow. 312 and a half pounds of silver. I guess you just lugged that out to the car and headed down to the coin shop, huh? And another 375 pounds to go! What a haul!I wonder what shipping costs would have been if you went LTL to Apmex? So what were you keeping it in, cardboard boxes? Did you get cash? Careful around the cops, they might take you for a drug dealer and confiscate it! Better get it into Apple stock and catch the next wave up! Some of you guys are so fucking smart. Maybe you could start your own website and you can show us all how its really done!

  • Hal

    lol good time to sell David!

    • Eric

      yea you should sell all your sugar, coffee, bacon, corn, grains, copper, nickel, aluminum and everything else that is at 2009 lows.

      That’s funny though because I just bought 5,000 ounces and took delivery. Perhaps you would like to sell me your 6,000 ounces directly? I’ll be happy to provide you with plenty of paper.

      See. I can make things up too.

  • Joe


    People are growing tired of being screwed over again and again

  • Willy

    My ZSL stock made me 30% in 3 months! Sold today and will use the profit to buy physical at $13 next week.

    • Ed_B

      Way to go, Willy. Now that’s the way to do it. I do pretty much the same with my “paper” profits. I convert soft fiat into hard PMs. One can build a nice stack over time doing this.

  • Steve_D

    Guys, I’ve just sold my 2 million oz’s of physical rocking horse shit, my 2 unicorns and the Loch Ness monster.

    I’d much rather be in magic beans right now.

  • Mike F.

    @David: You must love that feeling of that fine, silky, lineny feeling of the US fiat currency, that is backed by NOTHING but 18+ trillion in unpayble debt and faith of the people in it. It sure beats the feel and ring of REAL wealth and money—sarc off…another douchebag from the 10 Downing St. area LOL!!!

    • glitter 1

      LOL,Hey Mike F,I just finished hard piping NG to my retro-fitted for NG generator and fired it up today.Runs great.No more concern about potential issues with gasoline.Actually it was a tri-fuel kit I installed.Unless the local gas utility shuts off’down the gas,I’m good to go.

      • Ed_B

        Tri-fuel kit? Does this mean that your generator can run on propane? If so, then that could be pretty darned cool too at some point. 🙂

  • The Truth

    I am selling my silver too! Heck the good part is, I don’t have to provide any physical at all. What a deal!

  • Mr Beansilver

    I just provided a major island full of male escorts to the Feds.
    Give em a few days to mug shot em and process em in DC and London,
    they’ll be busy boys there, NY will be depressed with loneliness, and the price will go
    back up!!!

  • WhatsItAllAboutAlphie

    I bet you David is a faithful viewer and follower of CNBC.

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