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$50 Silver by Dec 31, 2012

Wynter Benton (wynter_benton), is an anonymous blogger on Yahoo Finance who claims to be a group of former, disgruntled JP Morgan commodities traders under Blythe Master. They have accurately predicted many silver moves in early 2011, and now they have made a new prediction: silver will trade above $50 before Dec 31, 2012.

According to wynter_benton, the take-down of MF Global on October 31, 2011 was designed to prevent wynter_benton from taking delivery of a massive amount of physical silver that would break JP Morgan’s naked short silver position.

Benton also claims that JP Morgan’s $36 silver derivative time-bomb is still ticking, and that the ex-JPM traders have re-grouped and are on the offensive again.

I have no doubt silver will break $50 in the near future.  The question is: how long will it stay there?  Will it stick this time?

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2 Comments to “$50 Silver by Dec 31, 2012”

  • Umpa says:

    JP Morgan will make sure that 50 dollar silver does not happen so much so that I am willing to sell put options for out of the money options at $35.00 December 31 2012. What would you give me for it?

    • Mike says:

      I’m not sure myself what will happen, so I’ll just give you my respect if you’re right :-p But I think it’s important to make a record of these predictions, so we know who is the most accurate and reliable.

      What do you think of Max Keiser’s prediction that there will be a global fiat collapse by the end of April 2013? He said there is a 90% chance it will happen, so he has given himself an out, but it’s still a pretty bold claim.

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