by Steven St. Angelo, SRS Rocco:
With more than half of the primary silver miners financial results for the third quarter finally out, the group is now losing nearly $3.00 an ounce at the current market price of silver. We can thank the Fed and Bullion Banks for rigging the paper silver price well below the estimated average break-even for the primary silver miners.
Before I provide my data from the silver miners in my group, I want to discuss the debate on PRECIOUS METALS MANIPULATION. There seems to be a demarcation now between those who are more traders and the group that adheres to fundamentals. While I admire anyone who can make a profit paper trading the precious metals, I find it quite interesting how several of the well-known names find it amusing to BASH those in the fundamental BUY & HOLD CAMP.
I look forward to hearing if either Doug Casey or Dan Norcini finally come clean that MANIPULATION has and is taking place in the precious metals as evidence is finally surfacing. According to the Zerohedge article, A Clear Attempt To Manipulate Fixes In The Precious Metal Market: