The Future of Silver, According to Adam Smith (1723-1790)

Robert Singer, recently proclaimed a Junior Mogambo Ranger (JMR) interviews Adam Smith, telepathically.

I got out my new Matrix Mind-ray Scanner, delivered before The Sharper Image and our way of life filed for bankruptcy and Googled “who is the founding father of economics”.  Results: Richard Cantillon, Alexander Hamilton and Adam Smith. I never heard of Cantillion and Hamilton is the father of Crony Capitalism.  I selected Adam Smith and set the device on “Interview” and typed. What follows is pure Unadulterated Unverified Mogamboism (UUM) and reflects my views on the future of silver and the planet. Any resemblance to real persons, living or dead is purely coincidental. Since Adam Smith or the SSPs never agreed to a Mind-ray scan, neither of them could endorse these views, which may or may not prove to be correct.  This is my attempt at humor.

adam: I hear the CFTC is finally taking the Silver Smarty Pants (SSP) seriously.

jmr: Yes, they are fighting for the integrity of the Comex silver market and have forced the CFTC to open a criminal investigation. When the Y2K bug didn’t bite and people quit buying precious metals, dealers had to find a new approach to reinvigorate sales. So they hired some SSPs who claim four large Traitors are manipulating the price of silver downward for profit. They tell anyone who will listen they will get rich betting on the Traitors running out of money, and then the price of silver will rocket to the moon.  The SSPs say the four Traitors have been manipulating the market for years and don’t have the silver. They want to be vindicated.

adam: Vindicated, as in clear from accusation? I thought the 4 Traitors were accused of the crime of manipulation.  The SSPs are just expressing their opinions on a controversial and inexact field. It doesn’t matter what nonsense they publish, so why would they need to be vindicated?

jmr: “It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so”, Mark Twain. Mistakes Were Made (But Not by Me) should be SSP required reading. Many SSPs even claim silver is a better investment than real estate, common stock and even gold.

adam: Gold? Are you saying they told people to sell gold and buy silver, I bet that ruffled some feathers?

jmr: Yes, but not Howard’s. He told his readers “silver is the investment of the century” until the recent crises when silver dropped 50% and gold only 25. The rest of you got vindicated.

adam: Where is this crime taking place?

jmr: Some SSPs say Washington others say St. Louis or Arkansas.

adam: So the SSPs are selling silver as a speculative investment? What part of safe-haven, store of wealth don’t they understand? You don’t buy precious metals to get rich; you buy them when governments start behaving irresponsibly.

jmr: That’s what you would say to the hedgers, doomers and gloomers waiting for the end of the world. Of course manipulation doesn’t hurt sales of Bill’s books and James and David’s reports and letters, and don’t forget I like a little manipulation now and then: another day without Mad Max.

adam: So when these 4 Traitors, with an illegal concentration in the silver market, manipulate the price then industrial users have to pay more for silver?

jmr: No, they get silver at historically low prices.

adam: Then there must a tight supply. Hard to get, right?

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