help buying wellbutrin generic sominex uk order erythromycin from mexico without prescription prednisolone pregnancy safe do you need rx precose where to get accutane prescribed where to buy allopurinol tablets prescription crestor canada zyvox limited india can you buy nootropil in ireland most reliable place to buy levitra plus online lantus on line no script actoplus pills buy online benadryl australia pharmacy common cipro side effects cymbalta medication on line buy bactrim 80 mg online female viagra generic canada comprar liv 52 en argentina paroxetine generic reviews buy diakof mexican pharmacies endep canada head office ou acheter du viagra pfizer buy duetact online no prescription united states kamagra online usa no prescription feldene brand pills for sale femara sent to spain prednisone without a prescription from australia how to take doxycycline hyclate capsules vagifem pills online in the uk can you get levitra plus mail order generic arava coreg low heart rate blood best site to buy fluticanose kgr 100 cheap ditropan pills chew generic vipro lifescience liquid tadacip review keflex next day bupropion smoking cessation trial grifulvin v tablets 40mg advair diskus medication class retin a micro price avodart canadian online where can i purchase clincin buy albuterol mg online order hydrochlorothiazide no prescription discount promethazine otc phenergan non perscription countries alli online canadian clarithromycin side effects how long what is cialis for women used for ampicilina mg no prescription lisinopril hctz overdose where to buy aspirin in philippines order roxithromycin from canada without prescription amlodipinbesilat usa cvs prices propecia cost canada where to buy silk live soy yogurt lowest price bentyl can i use viagra with zytenz purchasing claravis online uk ordering quetiapinum on line vpxl shoppers drug mart synthroid now co uk where to buy actos buy clomifene xr without prescription brand name clomid online what gift cards can i buy with paypal doxycycline hyclate 20mg price buy amlodipinbesilat online amazon minocycline dosage for lyme disease yaz generic usa list of tesco stores selling minocin order ponstel buy maxalt online with no prescription buy online generic albenza betapace pharmacy order what are promethazine pills used for cheap aristocort buy online quickest benicar mg contacts wide oristal online no prescription duprost buy without can you buy glucovance online buy kamagra gold 15mg online clonidine dosage for anxiety caverta woldwide shipping side effects of evista medication quinine tonic water safe is official canadian pharmacy legit very cheap fucidin cephalexin generic price safe buy lady era online midamor capsules coumadin clinic florida levothyroxine synthroid side effects digoxin india no prescription liquid vermox review buy ortho tri cyclen pills what happens when drinking on metronidazole diflucan costo all types effexor xr pills what is citalopram used for anxiety acticin online canadian thyroxine levels normal range grocery store generic brands asacol from usa pharmacy revatio wholesale list of tesco stores selling minipress what is nexium medicine for is there a generic available for flomax cleocin gel drug in usa pharmacy cheapest place to buy hytrin buy glyset 15mg online acticin raciper from canada acheter pas cher viagra super active brand advair diskus sale from canadian company is there a generic form of depakote er asthma uk inhaler demo cordarone online uk do i need a prescription for astelin cheap canadian bentyl no prescription purchase oxybutyninum in usa calan tablets used artane where to purchase can you take 1000 mg of robaxin buy cialis pay with paypal mail order generic yasmin uroxatral cost comparison estradiol valerate online pay paypal do you need rx innopran xl wellbutrin sr online purchase what does citalopram do to the brain malegra fxt online order paxil withdrawal missed dose no rx tramadol overnight over the counter drugs similar to tegretol buy lozol pills in the australia prescription medicine uk what is vardenafilum used for ultra low dose cleocin gel premarin tablets 0.3 mg prescription cards discount prescriptions solostar online no prescription viagra usa price ordering low dose dramamine atarax pill shortage allopurinol medication guide zyloprim where to buy disulfiramo in canada safely italian pharmacists threaten to stop viagra sales what is lanoxin prescribed for original elimite online glucotrol buy online australia ciprofloxacino altera ciclo menstrual research grade olanzapine acyclovir 200 mg 5 times day non prescription luvox how to purchase albenza birth control pills zyrtec can u buy tetracycline actos over the counter zovirax ointment sale purchase retino a cream 0,025 on line in the uk fastest oratane uk delivery depakote pills online in the usa buy alli 120 uk online estrace reviews and dosage buy over the counter thyroxin online riomont 20mg tab buy motilium from india prednisolone eye drops rxlist cheap coreg generic etabus no prescription where to buy accutane no prescription discreet zanaflex sales meclizine over the counter drug can you buy cordarone over the counter in germany buy estro tablets india mirapex dosage parkinsons best brand amoxil prices ordering trial erection packs 3 usa buying maxalt using paypal buy xenical without saw palmetto tablets for acne order minipress from uk without prescription purchase lansoprazol lowest price compare viagra vs cialis vs levitra aricept drugstore com pricing drugs similar to thyrox reglan dosage for cats where purchase geriforte aldactone medication order india pharmacies online that sell lasix buy clomid online no prescription cabana pharmacies approved order dilantin online non prescription acai recommended daily dose glucophage xr vs glucophage pcos drugstore buy allegra online mentat to buy in england lipitor 10mg reviews best l thyroxine prices where to buy atomoxetin with echeck acheter pas cher lopid alli discount pharmacy cheap lithium delivery uk valaciclovir tablets uses dutas 20mg tab prescription solutions prior authorization form aciphex celexa online in canada mango fuse slimming tablets reviews online generic endep pharmacy drugstore difference buy ralista online from usa canadian pharmacy online lamisil prednisolona uk brand name phenamax no script etodolac canada companies only where can i get finpecia from tretinoin 0,025 drug class how to by aciclovir online clozaril voltaren diovan purchase fertomid cheap valtrex prescription price canadian zertalin mexican pharmacy no prescription erection packs 3 zyvox generic uk xenical forum orlistat buy canadian isordil viagra side effects on young men topamax mg canadian rx generic mobic 7.5 mg pills metformin tablets for polycystic ovaries i pill clopidogrelum website free vytorin coupons buy vpxl mg online for prograf in canada suprax medication over counter benadryl syrup price in india cialis generico italia online buy differin pills in the us order generic isotretin can you get addicted to lexapro diclofenac sodium 50mg side effects canada drugs yasmin with prescription exelon patch order online actos buy australia buy caffeine ergotamine mg where to buy vpxl in canada safely how to use imitrex pen clomid fertility drug uk quiero comprar flagyl er fluoxetine reviews 2013 prevacid buy online uk discount lynoral mg purchase tadalis on line in australia buy acai paypal accepted cheap brand name vytorin zyloprim without prescription purchase kamagra oral jelly in mexico generic viagra jelly us buy trileptal on line where are cipro offices ultra low dose fincar can you buy prednisolona online buy claravis xr without prescription comprar detrol online viagra with paypal option seroquel doses xr buy estrofem online with no prescription stediril trusted online drug stores in canada buy caprysin pills in the uk buy artane online mexico no prescription to buy paroxetine in uk is levaquin available in canada deltasone canada no prescription torsemide to buy in the uk without a prescription buy cheap propecia forum benicar medication where can i purchase medazole medrol dose pack pregnancy eurax buy without riperdal best online non prescription pharmacy claritin pas cher lamisil cream rxlist hydrochlorothiazide sale brand amoxil buy no prescription lincocin dosage instructions generic compazine prochlorperazine usa buy toprol xl without prescription get aciphex toronto medicine similar to strattera ordering ovral l on line pariet price usa 24 hour pharmacy near mesquite tx where to buy glucotrol xl online without rx himplasia online bestellen diarex over the counter diclofenac prescription dosage best price for wellbutrin sr buying orlistatum from canada no prescription safe to buy generic tofranil from canada order voltaren online in usa precisa de receita para comprar differin what functions does the parietal lobe control lexapro from 10mg to 5mg prilosec for daily use canada discount hydrodiuril otc how to get adderall prescription uk ordering brafix uk risperdal for men sale in uk liv sale of business where can i buy triamterene buy tramadol pay with mastercard lexapro 10 mg get you high what is tretinoin 0,05 made of cheapest doxycycline paypal zetia for sale uk omifin para hombres para que sirve what drug category is thyrox ciprofloxacina birth control online us endep no script mexican pharmacies that battleship to us tricor engineering australia purchase aciclovir in australia suhagra side effects uk naprosyn with no subscription beaumont artane credit union order trial erection packs 1 uk pharmacy cheap aricept canada zestril price in india purchase ampicilina on line in uk where to buy minocycline online usa ceftin online canada famvir woldwide shipping mexican zoloft medrol to buy doxazosin medication overnight delivery ranitidine pills online in the canada best place to buy lamisil in usa zyloprim lawsuit canada flucazole india lidocaine injection dose order proventil from mexico without prescription trial erection packs 2 to buy in the canada without a prescription how to get hydrochlorothiazide in australia atorlip 10 with prescription buy risperdal online in usa order inderal confido online with out prescription ordering allegra on line triamcinolone acetonide dental paste zyprexa on line in the usa buy disulfiramo online no prescription us pharmacy cialis celadrin legal in england bystolic in the uk now elimite birth control online mexico clopidogrelum without a perscription what is inderal la prescribed for diltiazem er generic equivalent cozaar buy usa colchicine next day prednisone without prescrip tegretol tablets us online feldene brand positioning praziquantel uk canada drugs lisinopril with prescription cialis super active drug oversea femara tablets 40mg order ortho tri cyclen from uk without prescription micronase wholesale acheter aspirine du rhone giada tronchetti provera suprax for sale online decadron noprescrition needed canada online pharmacy doxazosin for men sale in uk natural medicine for flomax pharmacy buy drugs brand cialis over the counter cialis jelly buy liv 52 with a mastercard aspirin rxnorm how to buy quibron t online diltiazem shopping adalat uk next day delivery order caprysin from uk without prescription meloxicam enolat online in us mylan minocycline 100mg capsule roxithromycin dosage instructions keftab pills sweat can i buy antivert in canada cheap cleocin gel mg erythromycin 250 mg acne reviews finax shelf life lotensin dosage forms dosage for viagra 100mg is mail order levaquin safe buy voltaren tablets india celebrex celecoxib capsules side effects where to buy aspirin in ireland comprar sepibest en argentina snovitra super power delivery caffeine ergotamine to buy in england levitra tablets purchase microzide in uk what does differin 0.3 do augmentin user reviews retino a cream lowest price clomiphene citrate side effects in men cheap aldactone 100mg baridium order in the us zyprexa velotab 10 mg price zanaflex mexico no prescription zestoretic usa cheap phenergan usa cephalexin 500mg price brand viagra sale approved sildenafil levothroid prescription coupon thyroxin online without rx drugs similar to motilium parlodel canadian pharmacy purchase generic cabgolin xenical generic equivalent liquid flucazole review amoxil drugs antibiotic infections dosage of bactrim for urinary tract infection best site get torsemide pioglitazone and bladder cancer ema lotrel tablets buy can you buy duprost over the counter in germany mail order generic brand levitra buy zentel online cheap buy nizoral cream australia hyzaar 100 30 for sale brand viagra without rx losartan spc buying prescription drugs in india travel can you use elocon cream for eczema trileptal from usa pharmacy diprolene mg tablet is aciphex available on line in canada minocin pill canadian post cycle therapy acticin health canada diamox cabaser buy online ireland buy betapace 10 norvasc price in pakistan diovan fast usa shallaki sale requip india companies only ephedraxin mg canadian rx emsam no rx antara without a perscription lexapro cheap albuterol sulfate inhalation solution side effects children toprol xl to buy in the canada without a prescription advantage of atorvastatin or simvastatin where to buy azurette drugs online can you buy actoplus over the counter how to purchase sildalis online online.rx buy bentyl paypal accepted benzac reviews and dosage where can i buy thyroxine mg viagra sublingual from canada cheapest deltasone paypal prescription dilantin rogaine 5 prices at costco beconase aq pas cher italie order disulfiramum from uk without prescription brand ashwagandha for sale sarafem noprescrition needed usa online pharmacy can you buy meloxicam enolat buy diabecon online reviews unisom from canada buy amlodipin pills in the mexico buy actos paypal long term side effects of nizagara augmentin on line purchase buy paxil perth australia can buy altace online ordering duprost uk discount isoniazid from canada lamictal xr from canada best anti anxiety and depression medication lozol online price purchase innopran xl on line in australia amoxil italiano order cialis with a mastercard luvox online legally generic equivalent for prilosec singulair for daily use canada citalopram capsules costco pharmacy key pred price cost of diovan hct esomeprazole uk patent can you buy diflucan online etabus italiano janumet generic canada amlodipinbesilat noprescrition needed usa online pharmacy buy indocin perth australia toradol im duration of action buy exelon bulk retino a cream 0 025 uk buy where to find baclofen medicine cipro to purchase without a prescription tretinoin 0,025 mg buy atarax 10mg tablets salvent buy online india malathion 0.5 aqueous lotion permethrin 5 dermal cream nordette to buy in the canada without a prescription generic lanoxin usa pharmacy aleve pills side effects uk prescription buy cheap accutane arjuna lawsuit scary movie death by viagra prevacid 30 mg sale what does the word allies mean best place to order propranolol in us purchase orlistatum on line in canada comprar revista orsai en argentina buy alli from mexico online tofranil uses and side effects actonel brand positioning biaxin pas cher cheap alphagan usa olistat costco buy cefixime online no prescription pharmacy diarex no prescription needed cialis professional uk companies only purchase voveran cheapest kytril to buy buy hydrodiuril online overnight delivery where to buy aldactone with amex med cab prednisona how to get paroxetine drug clomiphene citrate 50mg tablets for men order trial erection packs 1 rx where to buy viagra sublingual in canada safely buy cafergot from canada ordering medazole usa diamox uk next day delivery fast cholestoplex deleviery price increase levitra super active buy thyroxine online from uk discount viagra plus mg lozol best price what does calcium carbonate do to the body baclofen no prescription overnight delivery obelit uk buy celebrex maximum dosage buy amaryl with no prescription buy tretinoin 0,025 boots pharmacy indinavir malaysia pharmacy erythromycin capsules 500mg kamagra gold ordering no prescription rimadyl dosage for dogs uk toprol fast india clomid or nolvadex for superdrol pct what is skelaxin for list of tesco stores selling zyrtec buy mircette cheap citalopram online from usa medrol dosepak buy online ireland resources for endep us online pharmacy no prescription etabus top 10 online acai sites watson pfizer generic lipitor lamictal 25 mg tablet triamterene low dose birth control pharmacy one click viagra soft mg canada ephedraxin where can i buy it actos usa prednisona 50 mg caprysin best online non prescription pharmacy buy cafergot with no rx order xanax online from canada best place to buy ponstel without a prescription doxycycline hyclate 50 mg rosacea walgreens pharmacy generic drug prices tretinoin 0 025 drug class trazodone 100mg tablet amoxycillin generic reviews antabuse online from uk januvia purchase cozaar medicine online prevacid 24hr coupon diclofenac gel mail order generic flagyl us advair pills sweat how to use viagra soft tabs nizoral pills actoplus mg mexico elavil 10mg amitriptyline stopping lexapro weight loss levitra professional on line in the canada reminyl generic reviews anafranil online pay paypal midamor side effects purchase janumet on line in usa the little blue pill over the counter luvox can you only get cipro on prescription zyrtec d price walmart diclofenac delivery member posts anastrozolo buy online australia where can i get zyprexa pills motilium dosage for syrup can you buy myambutol over the counter compare prices trial erection packs 2 zyprexa tablets for sale order zyvox generic for ditropan xl desyrel medication order zovirax price in the u.s avapro dosage levels discount gabapentine from canada viagra sublingual online from uk how often can i take 20 mg of cialis? dipyridamole generic mexico himcolin prices usa thyrox canada sale is there a generic drug for baclofen what is the antibiotic cephalexin used to treat safe premarin no prescription flomax sold over counter is it illegal to order generic aciclovir buy over the counter beta val online levothyroxin tablets uses is generic tretinoin 0 05 effective buy bisoprololi fumaras usa rosuvastatin ordering online pharmacy is there a generic drug for flomax mupirocin ointment 2 over the counter naprosyn from uk premarin order in the us buy furosemide online no prescription usa buy elocon from india western drug orlistar safe baclofen no precription retin a 0,025 dosage instructions no rx benzac online ventolin inhaler dosage child femara medication online diflucan where to get ordering low dose apcalis sx buy prednisone hong kong inflammatories prescription what is zofran side effects how to buy provera in london where to buy lopid online uk where to buy propecia online canada buy propranolol 20mg digoxin generic drug oristal discount voucher over the counter medicine that acts as ampicillin norvasc where to purchase fastest acnetane uk delivery gabapentine no prescription needed canadian online pharmacy bupropion xl side effects 150 mg what is aloprim pills used for what is premarin used for amantadine over the counter pharmacy technician salary in canada compare prices amoxiline professional store buy viagra advair diskus generic name where can i get cozaar from provera india pharmacy all types duprost pills buy diakof tablets online best site get buspar mentat on line no script cost of topamax without insurance cozaar otc europe brand amoxil on line in the india nitroglycerin discount medications clonidine canada companies only order bupropion uk pharmacy buying retino a cream 0,025 in manchester nizoral shampoo for sale order amoxicilina overnight cipralex legal in england buy lopressor pills in the us canadian pharmacy diclofenac oxybutyninum usa cvs prices canada and doxycycline snovitra super power buy india flucazole generic uk como tomar omifin y utrogestan free coupon for erythromycin 1000 mg prednisone side effects is generic demadex effective viagra pills india buy risperdal mexican pharmacies coversyl pills buy online roxithromycin for daily use canada tizanidinum mexico companies only half price torsemide elocom pills buy compazine for daily use canada cialis sublingual reviews for men sumycin in croatia can buy zerit online cozaar on the internet alegra d 12 without prescription trazodone online mexico order generic ceftin renagel canada head office where to buy dutasterid with echeck purchase premarin pills over the counter sex pills for women minomycin generic cheap costs sale estrace how to by cystone online western drug avandamet zantac in us billig paroxetine online kaufen doxycycline dose for sinusitis fluoxetina no prescription needed canadian online pharmacy keftab lawsuit settlements order 30 brand abilify mg indian generics online casodex what does amaryllis look like cheap keflex cephalexin 500mg generic actos comunicativos entrevista viagra for women for sale jumbo amaryllis bulbs for sale trazodone medicine insomnia astelin buy canada buy benzac online usa buy astelin online with no prescription buy raciper online canada buy epivir hbv online usa tenormin mexico no prescription robaxin cheap med cab brand amoxil buy septilin patch normal thyroxine levels maxaman canada no prescription do i need a prescription for janumet serevent 100mg tablet buy glucophage without a subscription prometrium price buy l thyroxine tablets usa ultra low dose effexor xr what is the dosage of valtrex for shingles adalat overnight shipping overnight buy clomid online chloroquine and proguanil anti malaria tablets over the counter drugs similar to lamisil best price brand cialis purchase actos 145 mg wellbutrin dosage amounts is it legal to buy prescriptions drugs online best place to buy lisinopril in australia purchase medrol 16mg where can i buy live chickens in london what are the side effects of trileptal in children where to buy demadex online mexico fastest flagyl uk delivery cardura india sale online diarex with no prescription buy klipal codeine in ireland online generic renagel speman pills online in the uk alesse over the counter australia quanto costa il nolvadex aleve reviews amazon flonase generic cheap viagra for women studies where to buy trazodone fluticanose online canadian canada and lasix allegra d cheap ordering methotrexate india what is staxyn for acai prices dramamine tablets from buy naprosyn spain over counter usa buy clincin without prescription do you need rx neurontin flucazole no prescription overnight delivery what drug category is levaquin nizoral ovulos precio en mexico buy quetiapinum online mexico no prescription alcohol and z pack antibiotics online pharmacy tamsulozin lov cost voltaren cialis quebec sale wellbutrin sr i pill website cheap zetia can order geriforte canada online prandin purchase generic propranolol safe isoptin without a prescription from uk over the counter anxiety medication cvs order kamagra on line mexico micronase reviews indian pharmacy raloxifeno over the counter medicine naprosyn ph online pharmacy reviews levaquin and sleeping pills viagra online in uk keflex online coupon code can you buy robaxin half price stediril is buying pain pills online illegal altace drugstore discount medrol from canada propranolol canada drugs side effects of citalopram hydrobromide 10 mg luvox mg buy tadalis sx online buy lithium online no prescription uk over the counter malegra fxt grifulvin v reviews for men buy to let property liverpool relafen usa safe place order leukeran mobic with no subscription plavix from usa pharmacy plavix pharmacy coupons ajanta pharma share price money control where do i bupron in canada buy accutane 100mg online avalide shortage 2012 alli reviews uk can you buy noroxin online the chepest glucofage claritin online in us zithromax chlamydia cure time estrofem to buy in the usa without a prescription mail order kamagra online buy dramamine 100 omnicef buy online us phenamax without a prescription from canada trimox without a prescription norvasc 10 mg tabletta toprol online from usa alti doxycycline online canada generic cialis soft gel viagra and women effects indian generics online glucotrol xl a good web page to buy demadex with no script online motrin purchase prescription buy nexium story nootropil canada no prescription common side effects of paxil lipitor generic walmart monthly fosamax dose speman canadian medications without prescription starlix medication side effects can you buy vasotec online enalapril caffeine ergotamine generic mexico how to take nizoral mg best generic maxalt review why are azithromycin tablets of 250 mg used for viagra sublingual purchase ordering advair diskus here in canada buy percocet mg online for lamisil comprimate pret extendaquin without insurance can buy antidepressants over counter how do you take valtrex for cold sores buy brand acivir pills buy aciclovir pills in the uk weaning off lexapro medication aakhri adalat wiki can you use cialis and viagra together viagra jelly mg order himplasia daily use reviews tretinoin 0,025 pills online in the uk buy motilium instant no prescription diamox from usa pharmacy evista without prescription pills buy retin a 0,025 online in the united states without a prescription flagyl prescription information methotrexate ectopic pregnancy hcg levels i pill bupron website prevacid dosage by weight what is zocor drugs sensoril ashwagandha reviews buy metformin boots geriforte syrup suppositories buy viagra over the counter london pharmacy how to order cordarone online costco pharmacy ephedraxin price isoniazid mg no prescription bupron to buy in england over the counter antibiotics for flu skelaxin drug class lanoxin pills online in the usa cupones de descuentos levitra professional online shipping no prescription buy generic accutane online medication serpina pharmacy mail order feldene generic 2013 drugs exelon by mail order is generic liv 52 available in usa elavil to buy in the usa without a prescription phenergan india pharmacy actos 40 mg dose vasotec capsules how to take cialis super active buy clonidine singapore generic neurontin usa green tea acai berry pills reviews what does ginseng do for you tricor drug in mexico pharmacy drugswatcher review buy obestat paypal accepted nizoral birth control pills order alli from australia without prescription 0.25 mg propecia enough prograf for sale australia lotensin from canada without rx can order cialis sublingual online safe diamox no prescription propecia pas cher bordeaux duprost italiano doxazosin cardura side effects brand name flovent online genuine lozol best price adderall and xanax erowid purinethol medicine online lexapro generic for furosemide now what is golden viagra buy antivert online overnight pyridium interstitial cystitis pain generic pills for suprax over counter alternative synthroid unicure india pvt ltd mumbai over counter viagra in germany cheap ciprofloksacin sale uk hyzaar from canada buy voltaren gel cheap non generic trimox best prices on real ed meds aldactone prescription effects doctor nitroglycerin limited india can i take maxalt with cold medicine azurette online in us buy minocin pills in the india over the counter dipyridamole pharmacy in canada forum seroflo on line for sale no script acquisto meclizine sicuro online where can i get avalide pills buy copegus mg cialis professional online overnight shipping etodolac dosage information order salbumol on line uk online pharmacy trial erection packs 2 propranolol price canada simvastatina roche precio argentina neurontin lawsuit 2011 order generic voveran viagra drug classification uk purchase terramycin on line in india what is doxycycline used for in canines ordering meclizine tetracycline drugs dogs diabecon paypal mupirocin ointment buy uk buy bisoprololi fumaras mexican pharmacies buy etodolac online no prescription united states plendil tablets buy buy retino a cream mg online buy diovan online canada no prescription buy sustiva overseas arthritis in dogs paws rumalaya gel online coupon code genuine zetia best price buy hydrochlorothiazide in australia how to import bactrim arimidex com coupon comprar yaz en argentina where do i topamax in canada is lasix a prescription drug canadian allies list effexor xr 75 mg generic order non generic cardizem generic for moduretic how to buy aleve in canada maxalt with no perscription buy viagra uk quick delivery oval blue pill 100 eltroxin mg canadian rx drugs similar to elocom safe alternatives nexium substitute of viagra in india discount etodolac of canada buy kamagra online india positive reviews on cymbalta rhinathiol wiki cost of detrol fluoxetine online canadian lesofat dosage chloromycetin drug in fr pharmacy oratane shoppers drug mart prescription innopran xl reglan comprare voveran generic 2013 drugs non prescription pulmicort buy avandamet without rx zertalin online with out prescription buy hyzaar 80 mg online emoquette drug class uk pharmacies online that sell fluconazol order 2 aciphex 20mg generic acticin uk paypal cipro pills buy ipratropium bromide albuterol sulfate steroid betnovate discounts codes are there generic flomax drug what type of pain is cymbalta used for can you get high off snorting gabapentin sominex buy on line acai 100mg buy buy penegra 40 reputable online canadian pharmacy buy aciclovir 2 400mg como puedo comprar doxycycline diovan novartis drugs coversyl india sale buy zentel online no prescription usa best place to buy snovitra super power in australia where can i buy ponstel mg female viagra noprescrition needed canada online pharmacy rizact looking for cheap januvia buy online how long do you have to take zyban the chepest keppra generic lamictal for sale on line accutane lawsuit canada 2010 rxrelief card in mail safe to buy generic geriforte from usa comprar phenamax en argentina most reliable place to buy brand levitra online can going off wellbutrin cause weight gain where do i antabuse in india benadryl long term use side effects in children where can i buy flagyl online buy anastrozolo online without a prescription best site to buy ceftin liquid cialis dosage forum pyridium for sale online buy biaxin 40 where to buy metronidazole with amex is claritin over the counter starlix for men in usa flagyl canada no prescription is mail order tinidazole safe what is the best site for kamagra rxlist abilify drug fucidin cheap canada pharmacy comprar advair original buyers of estrace canada hardon prevacid 2009 sales where to buy cheap generic benadryl buy ovral l canada zoloft weight gain 2011 ondansetrona no rx ampicillin concentration lb plates unisom pills buy online cheap real cialies 30g vasodilan fast canada zyvox online in canada brand advair diskus 40 mg dose buy name brand viagra online phone in order for retino a cream order artane pill zetia online price cialis costco pharmacy american lisinopril pravachol with prescription buy plavix low cheap price over the counter aciclovir duetact billig kaufen buy online proventil generic fluss 40 mexico no prescription posso comprare viagra farmacia senza ricetta safe to buy generic eurax from canada buy quetiapinum pills in the australia puerto rico department of health board of pharmacy lisinopril online in uk actoplus online in usa retin a cream uses canada drugs viagra plus with prescription can you get a buzz from mobic onde comprar serophene alfa flucon usa pharmacy order tamoxifen without rx caverta no rx risperdal to buy in england how to purchase clomifene furosemide prescription medicine decadron pharmacy mail order levlen no prescription canada online zestril with no prescription buy shuddha guggulu fast shipping purchase celapram on line in usa what is glycomet used for best place to buy ginette 35 in australia colchicine for dogs buy hq canadian pharmacy scam online suprax india discounts or coupons alli weight loss aid where to buy flagyl er ointment thyroxin mg usa himplasia suppositories buy buy fluss 40 online in the united states without a prescription triamterenum over the counter india what is the female version of viagra actoplus limited india canadian pharmacy drug buy accutane online free online pharmacy no prescription paroxetine online from india use brahmi coupon online tamoxifen on line in the uk suprax online pharmacy uk is there a generic for cafergot licensed pharmacy methotrexate lamictal prices walgreens cheapest didronel tablets uk brahmi medicine side effects trusted tablets coupon code zofran odt rxlist rizatriptan benzoate wafers side effects ordering malegra dxt usa claritin zyrtec breastfeeding where to buy sleeping pills in canada safe ivenox no prescription list of tesco stores selling cialis jelly where can i get some nordette dostinex combination rogaine 2 online usa no prescription keppra on line in the mexico how long does roxithromycin take to work buy amoxicillin with no prescription comprar famvir original en madrid order water pills online canadian pharmacy how to gain weight without any medicine substitute for premarin tablets natural doxycycline alternatives how long does it take to get pregnant on femara cialis how many times order atomoxetin online without rx generic altace no prescription lisinopril hctz side effects coreg dose range how to take flagyl 500 mg generic clavamox uk paypal pharmacy technician salary canada 2010 zyrtec para que se usa best site to buy hydrochlorothiazide dosage of mifepristone and misoprostol in india amantadina nombre comercial generico buy cialis no prescription canada mevacor fast mexico keflex drugstore com pricing rx relief discount card amoxiline noprescrition needed uk online pharmacy buy quibron t online no prescription uk purchase aceon lowest price buy viagra jelly hong kong coumadin 10 mg nomogram what does tindamax sarafem online in usa order otomax on line usa cialis shopping on line viagra plus uk brand name cialis side effects mood cost comparison viagra and cialis meclizine canada sale levothroid for sale uk klipal codeine from mexico ashwagandha without a script safe to buy generic clomid from usa clonidine online order ortho cyclen online coupon code deltasone drug canadian pharmacy cheap aciphex online drugs current price valtrex vistaril lowest price compazine tablets pariet online without prescription best place buy fosamax pct hoodia gordonii over the counter chlamydia symptoms men discharge cheap cozaar prescription ordering colchicine canada prednisona online uk cheapest place to get plavix flagyl er drug in canada pharmacy arimidex buy online uk buy fluoxetina online australia no prescription how to get voveran in australia diovan 80 mg lopressor generic metoprolol renvela renagel allegra versace weight gain trimox tablets side effects buy bactroban pills in the canada bupron sr roche precio argentina what is citalopram 20 mg used for generic thyroxine buy canada purchase actoplus met mg online pharmacy extendaquin how to take stieva a mg where to buy diarex with visa can i take viagra and drink alcohol how much does promethazine codeine cost azurette brands india non generic feldene tadapox ships from india clomid roche precio argentina better than cytoxan where can i purchase roaccutan permethrinum canada pharmacy nitroglycerin lowest price online buy salvent online from mexico can you order nimotop what is zyban used to treat lifta tadalafil cheap generic doxycycline buy brand amoxil boots pharmacy motilium medication order doxycycline for dogs heartworms flovent buy online india levitra plus canada pharmacy ordering trileptal here in canada imuran online without prescription posso tomar sertralina para emagrecer order cardizem online no prescription with a amex torsemide best price get zithromax toronto testosterone replacement therapy uk nhs augmentin online in usa acheter levothroid seroflo now levitra professional without script how to take provera and clomid side effects of doxycycline hyclate 100mg caps buy doxazosin hong kong flying anxiety medication over counter buy alavert pills comprar quetiapinum portugal difference between levitra viagra cialis omnicef cheapest rate buy aristocort tablets pyridium purchase zenegra birth control online india levitra pas cher paris prednisona pills canadian pharmacy no prescription needed viagra can i get a flu shot while on augmentin buy lamisilate perth australia getting pain pills for back pain maximum dosage of levitra buy flovent tablets india avandamet uk online endep purchase in canada no prescription where to buy accuran tretinoin online pay paypal free coupon for risperdal i pill cymbalta website wikianswers top pharmaceutical companies india how to purchase actoplus mentax usa best place to buy dutasterid without a prescription order amlodipinbesilat from india without prescription seroquel india no prescription buy coumadin singapore stediril pills buy nombre generico de tenormin endep dose for insomnia famvir online coupon code buy finpecia online no prescription united states requip side effects gambling medicine like imitrex vendo azulfidine 500 mg prilosec for dogs non persciption brand cialis midamor where to buy in canada generic viagra uk paypal order altace on line uk eldepryl from china nootropil cost canadian can you buy over the counter order allegra buy brafix online without prescription what is eldepryl mg used to treat cheapest advair paypal how long for zyrtec d to take effect is bupropion generic for wellbutrin canada pharmacies online that sell zofran buy online benemid generic clomifene from canada with no prescription brand levitra on line in the uk diclofenac drugs side effects buy klipal codeine without rx purchase celebrex brand buy 100mg clomid online pharmacy directory humana buy exelon online overnight norvasc generic available buy vibramycin no prescription cheap bactroban warfarin interactions with food list diakof generic 2013 drugs buy viramune with paypal bactrim 40 mg dose buying trileptal vpxl over counter uk lotrisone birth control online canada cheap genuine flucazole online xeloda western australia florinef over the counter india methotrexate prices at costco long term side effects of fincar buy tegretol online from india where purchase fertomid cialis sublingual buy mexico what is apo furosemide taken for generic casodex switzerland estrace how to buy fucidin generic australia kamagra chewable paypal tramadol no prescription cod buy ambien online legally cabgolin sold over counter cheapest thyroxin paypal keflex 250 mg caps korean ginseng order trial erection packs 2 usa lisinopril on line in the usa no prescription microzide minipress drug in uk pharmacy american ciprofloksacin buy alesse 100 hamster viagra jet lag prednisone online store tadalafil brand in india substitute for zocor medicine diltiazem over the counter buy luvox pills in the india cuanto cuesta el orlistat en mexico no prescription mestinon i pill accutane website propranolol medicinenet valtrex prices generic water pills to lose weight wiki diovan 80 topamax tablets side effects nimotop 100mg tablet metronidazol over the counter uk is generic ovral l effective purchase remeron on line in the uk cost of mail zitromax where is the love lyrics barracuda what does celebrex do for arthritis buy indocin with visa tamoxifen tablets bp cheap cephalexin 250 mg online caprysin supplier in uk is it safe to buy pain pills online difference between levitra vardenafil what is ranitidine used for in babies is cialis covered by medicare purchase voltaren in us getting plavix in australia quibron t cheap uk where can i get some lamisilate what is clavamox pills used for canada buy celexa without prescription phenamax pills buy online fincar on line in the uk oil free drugstore foundation minocycline without prescription calan rx canada pharmacies online that sell toprol evista discount coupon how to buy korean ginseng generic serpina us ranitidine buy no prescription reglan without cheap buy mail order glucophage online bupropionum online bestellen buy bupropion online canada no prescription online pharmacy uk estradiol valerate order rumalaya forte canada order celebrex no rx canadian pharmacy buy zanaflex without prescription billig lynoral online kaufen omeprazole otc vs prescription brand zyvox for sale brand name zenegra online plendil online in canada tretinoin 0,05 with prescription buy provera in india online buying estro from canada no prescription cvs pharmacy generic drug program disulfiramo where to get florida aciclovir buy keftab greece viagra generika kaufen deutschland buy lamictal fast shipping frumil generic mexico unisom buy online mexico cialis sublingual sale pharmacy online pill tenormin for purchase ordering elocom eulexin new zealand buy prandin pills online cialis mexico precio viagra thailand pattaya reviews on zyrtec d buy lamisil online with no prescription comprar lisinopril en argentina remeron overdose how much asacol drug prices is finpecia a prescription drug can you buy cialis sublingual in ireland online drug store amoxil generic australia malaseb dog shampoo buy erection packs 2 without rx where purchase hyzaar ginette 35 birth control online australia what is the drug neurontin prescribed for is there a drug comparative to nexium order actos on line mexico how long to use tetracycline order etodolac from usa without prescription most powerful natural antibiotics can you get demadex pamelor side effects weight american alti doxycycline clomid overnight best place to order lopressor in us buy medications online mexico buy zestril fast shipping safe to buy generic minipress from usa uk buy advair diskus fluticasone methocarbamol generic for robaxin purchase micardis on line in india where to buy coversyl mg si te gjej driverat e zerit is there a generic for viagra in the u.s ordering lamisil online buy levitra pills in the uk buy bystolic nebivolol getting zoloft in australia do boots sell viagra over counter generic triamterene usa long term safety of tadapox asacol mg tablet is mail order tadapox safe farmacie online over the counter zantac for kids where can i buy hoodia diet pills purchase nexium in australia acivir pills barato can you buy cheapest order lasix online no prescription levothyroxin sale what is the drug requip used for buy cleocin mg no prescription buy order isoniazid buy advair diskus 250 50 pharmacy lotrel lowest price online order tadalis sx online mobic in the uk buy retino a cream 0,025 perth australia brand name liposafe online how to get provera in australia where to buy glucotrol xl online india american ginseng traditional chinese medicine ciprofloksacin fast uk what does viagra contain 100 mg toradol silagra tablets online fda wellbutrin max dose zithromax price cvs where can i buy antibiotics online arimidex sales 2009 azithromycin 250 mg dosage std where to buy bentyl without a prescription accutane second course initial breakout pariet generic brand coumadin online no prescription forzest von ranbaxy carafate buy no prescription online pharmacy xalatan sominex online mexico diflucan online pharmacy shipped to canada kamagra oral jelly pills online in the uk most common side effects of nitroglycerin torsemide buy online mexico alli weight loss aid side effects i pill retin a gel 0,1 website research grade adalat do you need rx phenamax curacne no script cheap lanoxin pills cialis viagra mix styplon paypal vasotec medication benzac ac 5 onde comprar estro online order deltasone no prescription discounts buy erection packs 3 uk levaquin com coupon safe to buy generic phenamax from usa how to get off singulair where can i get alesse pills buy cheap compazine using pay pal genuine amoxycillin best price generic hydrochlorothiazide usa pharmacy brafix buy uk viagra professional from australia buy alesse with e check brand levitra cost in canada what is spemann primary organizer experiment etodolac canadian pharmacy buy generic sildalis albenza 20 mg ralista for dogs buy ventolin uk next day delivery blopress 10 mg cost chloromycetin drug class where to buy cymbalta with mastercard tab augmentin in pregnancy cymbalta over the counter canada accutane without a prescription from uk what is emsam tablets buy orlistato online overnight is it is itlegal to order generic drugs from india flomax order on web buy bupropion without rx kamagra comprar coumadin toxicity complications geriforte syrup tablets uses zentel online with out prescription what is fucidin side effects of cymbalta medication forum accutane isotretinoin generic long term side effects of levlen saroten retard nebenwirkungen where to buy confido with visa
Sunday, February 01, 2015
Text Size

Search our Site or Google

Commodities: Hoarding Versus Shorting

Articles & Blogs - Silver Commentary

User Rating: / 82

Given the decades of rampant manipulation of the precious metals markets on the “short” side of trading, it is more than ironic that as the U.S. CFTC (“Commodity Futures Trading Commission”) ponders restrictions on commodities markets, it has expressed the most public concern about “speculators” on the “long” side of investing.

This comes with HSBC sitting with the largest concentrated-position in the gold market in history (“short”), while JP Morgan sits with the largest concentrated-position in the history of the silver market (also “short”). Furthermore, these concentrations (in proportionate terms) are far larger than anything seen in the history of all commodities markets.

Nonetheless, we continue to hear endless rhetoric about “speculators” disrupting markets (especially the crude oil market) – through “competing” with the buyers who actually consume these commodities through their own operations. Such “disruptive speculation” is often referred to (disparagingly) as “hoarding”.

Before I get into a direct analysis of this economic phenomenon, it would be helpful to review some basic economic fundamentals, and then first apply those fundamentals to the “short” side of commodities trading. Regular readers will be familiar with one of my economic mantras on commodities markets: anything which is under-priced will be over-consumed.

In fact, this isn’t really “economics”, but merely an expression of common sense. If chocolate bars were suddenly re-priced at a dime apiece, store shelves would be cleaned-out in days. Manufacturers’ inventories would then quickly be drained. This would soon be followed by acute shortages in the global cocoa market, and very possibly the sugar market as well.

At some point, not too far down the road, such warped pricing (totally against economic fundamentals) would create utter havoc in these markets – as acute shortages occurred – leading (inevitably) to a massive price-shock, not only to the chocolate bar market, but also with the cocoa market, and likely the sugar market, too. These price-shocks, in turn, would cause serious disruptions in other markets which rely upon these commodities.

In short, excessively low prices are at least as damaging and disruptive to markets as excessively high prices – and arguably much more so, since they lead to two massive distortions to markets: first over-consumption (which depletes inventories and stockpiles), followed by a massive price-shock (the only way to curb demand to a sustainable level).

If we replace the words “chocolate bar” (in our example) with the word “silver”, we see what utter havoc has been created in this market, through JP Morgan being allowed to accumulate and hold the largest, concentrated (short) position in the history of commodities market.

Noted silver authority Ted Butler has estimated that 90% of global stockpiles of silver have been used-up, thanks to decades of this market-manipulation by JP Morgan – along with smaller, but equally nefarious allies in this market. With decades of manipulation behind us, and global inventories and stockpiles already decimated, we have gone through the period of “over-consumption” and are rapidly approaching the massive price-shock – which became inevitable the day that JP Morgan (and fellow banksters) embarked upon this permanent-manipulation scheme. It is the years of ceaseless manipulation, combined with JP Morgan misrepresenting their activities in this market which makes this more than merely "illegitimate", but also illegal.

Not surprisingly, growing numbers of investors are gravitating toward this market. They are investing in a commodity which has become genuinely “scarce”, due to the nefarious (and illegal) manipulation of this market by JP Morgan and allies. How is the brain-dead media reacting to these market events?

Far from condemning the indefensible conduct of the bankers (on the short side), it is silver investors who are depicted as “speculators” – which as I explained earlier, is a “four-letter word” in the eyes of the U.S. regulator.  And rather than describing the activity of these “speculators” as the very sensible decision to stock-up on a commodity in short supply, the media depicts this activity as “hoarding” – yet another term with negative connotations.

To display how this attitude is not simply “warped”, but totally mistaken, let’s back-up a bit. JP Morgan attempts to “justify” its illegal manipulation of the silver market as part of the legitimate activity of “hedging”. Simple arithmetic proves JP Morgan is lying. By definition, hedging is an activity to help restore balance to a market – through offsetting long positions in that market.

More importantly, the mechanism through which hedging restores balance is price. At this point, analysis becomes simple: if the hedging is legitimate it will produce a price which leads to balance between supply and demand in this market. The simple fact that the (supposed) “hedging” (i.e. shorting) by JP Morgan led to a 90% drop in global stockpiles, and a corresponding 90% plunge in global inventories (in just 15 years) is – by itself – conclusive proof that JP Morgan’s short-position could not possibly represent legitimate hedging.

JP Morgan created the severe imbalance in this market, through overly depressing the price with its manipulative shorting. This has led (directly) to destruction of stockpiles, which also leads (directly) to the massive price-shock toward which we are heading. Let’s compare this activity to the (long) “speculation” which the CFTC has mistakenly identified as a more serious problem.

Let’s assume that the level of long-investment (i.e. “speculation”) leads to tightening supplies for a particular commodity. Let’s go even further, and raise the level of “speculation” to the point where there is a serious “spike” in the price of that commodity. What happens then?

The spike in price causes demand to plummet. This causes the price to fall (rapidly) irrespective of the conduct of “speculators”. After bouncing-around a bit (as the pendulum swings back and forth), the price returns to an equilibrium level – and there has been only one disruption to this market.

Conversely, with the excessive shorting of JP Morgan (et al), first this leads to over-consumption. In the case of a metal like silver, with countless useful chemical/metallurgical properties, this means numerous businesses incorporate silver into their business/production model (at a price which cannot possibly be sustained over the long-term). Thus, when the inevitable collapse in supply occurs (and a default, or severe supply disruption in this market), far too many businesses have not only become dependent on silver, but dependent upon cheap silver.

This means that the original supply-crunch will have an horrendous impact on these businesses. However, that impact is nothing compared to the harm of the massive price-shock – made inevitable by excessive consumption. Because under-pricing led/leads to massive over-consumption, demand would have been (artificially) pushed to grossly excessive levels – maximizing the total damage from the price-shock.

Conversely, in a market which only has long-speculation, there is no artificial demand created first. What this means is that a price-shock created by “over-speculation” must (as a matter of simple arithmetic/logic) cause less problems than an imbalance caused by excessive-shorting.

Let’s reinforce the distinction that “hoarding” is the noble activity, while “shorting” is the evil which must be controlled. This can be easily illustrated by looking at the “supply” of various species of animals, in the animal kingdom. Here, the concept of hoarding does not even exist. Rather, we encounter a word with a much different connotation: “conservation”.

When a particular species of animal becomes “endangered” due to “over-consumption”, the people who protect the supply of such species are widely viewed as heroes. We can easily export this analysis to the world of commodities, by simply reviewing the evolution of the silver market.

First, JP Morgan engages in grossly-excessive (and illegal) shorting of the silver market. This causes the price to drop to a totally artificial level (which is what causes over-consumption). Thus, what the market needs is higher prices – to push demand back down to sustainable levels. Enter the silver investors.

The moment that these investors start buying-up significant amounts of silver, this causes the price to rise (and curbs demand) sooner than without the intervention of these investors. What this means is that the price-shock occurs sooner than without this investing and (as a result) there is more silver remaining in global stockpiles than without the virtuous influence of these investors. This analysis is by no means unique to the silver sector, but can be applied to any/all commodity markets.

This analysis should also serve to provide readers with proper perspective regarding the individuals (and groups, such as GATA) who have laboured for years to expose the illegal manipulation of the gold and silver markets. The clueless media have depicted these people as a collection of “Don Quixotes”, who are supposedly wrong about both the existence of manipulation in these markets and the urgent need to stamp-out such manipulation ASAP.

Any valid analysis of these markets instantly vindicates these people (and their efforts), while it is the “shorts” (and their defenders in the media and regulatory bodies) whose conduct cannot withstand the slightest analytical scrutiny.

In short, we could easily devise an “I.Q. test” for all would-be “regulators” of the CFTC. We can test them on their understanding of (and the distinction between) hoarding and shorting. Given the rhetoric emanating from this severely-tarnished institution, most if not all of the CFTC’s current “leadership” would flunk such a simple exam – with a similar lack of comprehension to be expected should we test media “experts” on commodities.

Readers must “shun the herd” when it comes to commodities analysis – as there are few signs of intelligent-life here. While silver investors are unlikely to be awarded “medals” for their virtuous conduct, at least we can go to sleep at night knowing that we won’t “burn in Hell” like the silver-shorts of JP Morgan.


Comments (15)Add Comment
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Stew, what makes the current era of money-printing so particularly irredeemable is that there haven't even been any "national emergencies" to provide even a PRETENSE of justification - certainly the highly "choreographed" War on Terror doesn't count, and the other money-printing sinners didn't even have that pretense.

This destruction of the BANKERS' currencies and OUR wealth has been nothing more than a wealth-grab by the ultra-wealthy, and the bankers who "service" that wealth. And we didn't even need "princes", just a lot of stupid, spineless politicians...
written by swsprime, September 03, 2010
A Gold Standard stops the worst excesses of Princes (and Presidents):

Princes always fought wars to take over the assets of other Princes for their own dynasty's aggrandizement. The problem they had with starting a war was they had to pay the troops and arm and feed them for the duration of the war. In order to do this Princes had to use up their treasury of Gold and Silver. So they needed short wars, if the war didn’t go the way they expected it to go and they used up all their Gold and Silver they would become frantic to end the war, and these wars would end quickly by treaty, (much to the benefit of ordinary people.)

Then along came International Bankers.

‘Worried about having to end your wars too soon? We’ll help you keep that war going, we’ll lend you money, better still, we’ll print paper money you can use internally to pay your people’

Germany then France came off the Gold Standard just before WW1 and this enabled this war to go on for six long years, cost 20 million lives, and bankrupts both countries. France won (sort off) and Weimar Germany endured hyperinflation and the coming to power of Adolph Hitler, who saw to it that another 49 million would die.

As Napoleon Bonaparte, a big war monger, and the first big user of international banking once said: ‘Money has no motherland; financiers are without patriotism and without decency.’

Ever wondered how the US financed the long wars in Vietnam, Iraq and Afghanistan? Ever worried about the US going into hyperinflation any day soon? You should have done both.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Very nice analogy, Dylan.

Yes, whenever some authority (generally with some sort of "monopoly control" over a market) points an accusing finger at people for "hoarding", it is almost that authority which CREATED the motivation to do so.

Ironically, with gold being almost perfectly "conserved" by our species (i.e. very little is "consumed"), there is no possibility of the accusation of "hoarding" (because the global stockpile is abundant).

Conversely, with silver BECAUSE people did NOT "conserve" global stockpiles of silver (due to bankster shorting and industrial consumption), and BECAUSE supplies have been so decimated, EXPECT the accusation of "hoarding" to be uttered very powerfully by the propaganda-machine. Instead of criticizing the "shorts" for burning-through global stockpiles, it will be the silver "conservationists" who are demonized.
written by Dylan, September 03, 2010
The endless rhetoric about speculators reminds me of Diocletian’s edict, in which he rants on about those evil merchants who kept raising the prices in response to his debased coinage and then when the prices were fixed, committed the ultimate sin of hoarding , the parasites! All this despite the fact that he and his successors were guilty of hoarding all the remaining non-debased gold and silver coinage and only accepting real gold as payment of taxes. And all the debased coinage which had to be accepted at nominal value when he was funding his war machine caused the supply shortage which led to the price increases in the first place. So we have the great grandaddy dragon of hoarders transferring wealth to himself and his war machine and transferring blame on to other segments of society – the oldest trick in the book.

This leads me to the next point, there ARE a group of state-sanctioned speculators today who qualify for the parasitic terminology. These are the colluding insider hedge (so you can’t see over the top)-funds and their ilk who along with investment banks such as Goldman and JP Morgan make up the shadow banking system. Isn’t it interesting that now they both have closed down their proprietary trading desks, various members of staff will form hedgefunds. I wonder if the suppression will continue?

As you say Jeff, their illegal shorting activity has created an artificial increase in demand, offset by the paper PM scam (an artificial satisfaction of that demand to buy time) enabling them to hoard the real stuff in gleeful anticpation of the inevitable price-shock.
However, they also engage in illegal long speculation, the commodities bubbles, the agflation which causes real starvation caused by a Stalinesque artificial reduction in supply (this is the real hoarding), as prices are forced up – people need to eat, no free market there. But this is also „Naked” long speculation because the money comes from collapsing real estate bubbles and credit default swaps which come from insane leverage and illegal insurance scams ultimately paid for by the outsiders.
Wealth transfer to Insiders and Burden of Debt transfer to outsiders.

Null, maybe off topic or maybe not. Have you ever considered the possibilty that the debate between the global warmers and the skeptics is contrived to cover a third possibilty? Climate change IS man made BUT NOT because we breathe and drive to work, BUT because the technology to cause rainfall or droughts or worse (think crop failure, commodity speculation, insurance scams, weather derivatives) exists and has and is being used on a global scale. Once again the blame is being transferred on to US while we are being raped.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Null, now we're kind of getting into the fundamentals of capitalism here. The essence of capitalism is that you must "extend credit" (i.e. incur debt) to maximize economic growth. In a debt-based economic system, "interest" is deemed to be an economic necessity (i.e. if you DON'T pay interest, no one has an incentive to extend credit).

The problem is that when you ALSO allow a "fractional reserve" monetary system, then you are implicitly building inflation into the system, too. This is because you can't have "fractional reserve banking" without diluting the money supply, and you can't dilute the money supply without creating inflation.

At this point, there becomes TWO bases for interest: the passage of time AND the dilution of the currency...and we gradually degenerate (thanks to the greed of bankers) into the mess we have today.

I would equate the Islamic model of a financial system much like that of the lifestyles of the tribes of aboriginal people (from an ecological standpoint). The parallel is that we are dealing with inherently STABLE and SUSTAINABLE systems here.

The "benefit" offered by capitalism is a generally higher standard of living, more rich people, but with INHERENT INSTABILITY and MASSIVE wealth inequality.

written by Null, September 03, 2010
Thanks Jeff, I wonder if you have an opinion or further insight into the Islamic rule of banning interest or "usury", which as I understand it was also banned by our own cultures long ago. I wonder how a financial system would operate under this, or do we even really need a financial system at all? What happened to the old concept of actually working and producing something of value in order to earn money? When you see the ads on TV from the banks urging people to "get your money working for you", well that's not what's happening at all, rather someone else who doesn't have any money is working for you because if you own money then you own debt, and someone else is enslaved by it.

In my simplistic understanding I would imagine a world without banks of any kind except those which print up a transactional currency linked to precious metals that we would use every day. Our wealth would be stored in physical possession of precious metals, or by ownership of hard assets like farmland or shares in factories and corporations. Neither the banks nor government could manipulate money, and economies would be ..... stable! Would this mean government bonds would no longer exist?

People would not be able to buy anything unless they had the money to do so (what a concept!!!) Housing prices would therefore drop accordingly to make them available to the majority. If you needed a loan for something like to start up or expand your business then you would go down to the credit union and arrange and agreement with a group of investors who have some gold they would like to loan out. The interest rate would be agreed upon mutually by the parties involved and the government would have nothing to do with it. As collateral for this loan you'd offer up something you own to guarantee it.

Simple, easy to understand, does it really need to be more complicated than this? Maybe for large corporations who make cars or computers or mine copper it would need to be a little more complicated I imagine.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Null, I agree unequivocally. It's a constant theme here that what is taking place in the broader economy is a MASSIVE WEALTH TRANSFER to the ultra-rich FROM everyone else.

This is why I have made a number of attempts to get people to focus on our TAX SYSTEM - since this is the primary wealth-transfer mechanism in any/every developed economy.

The other areas of wealth-consolidation which you refer to are ALSO important. However, fixing OTHER parts of the economy (and "righting" other wrongs) won't make ANY real difference unless/until our tax system is overhauled.

I've been meaning to do another piece on this - especially after Samix mentioned that Islamic nations ALREADY have an equitable tax-system in place: a "flat" WEALTH TAX. So hopefully I'll get something written up on that in the next few days...
written by swsprime, September 03, 2010
@ Null,

Thx Null, comments appreciated.

written by Null, September 03, 2010
swsprime, see the movie "Who Killed the Electric Car" which documents how Big Oil and the American government destroyed the efforts to bring electric cars to market earlier in the decade. Here we are ... almost 2011 and you still can't buy one. I have analyzed the movie for the last 2 years and it appears to be entirely correct.

I don't want to go too off topic here. But I see a direct parallel between what the oil industry (and sympathetic governments who make revenue from it -- aka Stephen Harper and GW Bush) is doing to prevent change and sustainability, and what the banksters and US government are also doing to prevent change. The established PTB simply do not want change, because they will lose out if the average consumer wins (by being able to charge their electric cars with solar panels on their roof, thereby completely bypassing the oil industry and saving $$$ in the process, or by using gold and silver as a store of wealth, thereby completely bypassing the banking industry), and they engage in these massive campaigns to prevent change by manipulating public opinion, among other strategies as well. They are designed to scare people into believing that getting off oil is going to hurt them financially, or that gold and silver are in some kind of bubble when they clearly are not, yet only a few years ago housing was in an obvious bubble but where were the banksters warning everyone about the coming pop? Nowhere to be seen. Absolutely ridiculous. It's all designed to steal wealth from the middle class.
written by swsprime, September 03, 2010
@ Null

Nice comment. What is Chevron hiding?

written by Null, September 03, 2010
Yes it's quite a revealing insight into human nature to see peoples' reaction when presented with this unavoidable outcome of our modern economic system. I have told at about 5 of my friends about the coming collapse and how important it is to buy precious metals as not just a profit opportunity, but as a hedge. No one has done anything. One friend who is a successful small businessman with 4 retail stores in Vancouver, has 4 houses in Vancouver, all on a mortgage, and wants to take out a new loan to open up a fifth store. Yikes.... I have been trying to convince him to buy gold and have shown him all the evidence of a manipulated market and the inevitable consequences of a debt saturated fiat currency. His response was that he lost $10,000 in the stock market crash in 2008 and has since not been interested in investing..... So then what are those 4 houses for?!

The response of people to this situation reveals how we behave as a species, we can be incredibly stupid sometimes (sorry for saying that, friends). As a group we are incapable of thinking originally, adapting to new situations by adopting new and better ways of thinking and doing things, and using reason to question the false assumptions we incorrectly hold to be true. We will all still be enthralled in the inane left-right debates, clinging to outdated simplistic ideology, as we all, both left and right, drive off the cliff together. It does not inspire confidence in the long term future of our species. Just look at all the people denying global warming (with zero scientific reason to do so), so easily manipulated by the same type of FUD (fear, uncertainty, denial) spread by those wishing to continue to suppress precious metals. It is so obvious that the doubts about global warming are funded and spread by Big Oil, and there is ample undeniable evidence to demonstrate this, yet so many people would rather trust an oil company that steals $2000 from them every year over a scientist who dedicates his life to studying something at university and has no vested interest at all in helping you save that $2000 a year and instead spend $200 a year by adopting better technology that is has been suppressed by Chevron for 7 years, ironically. Sorry, a bit off topic there.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Stew, I attribute the "secret" status of precious metals (amongst people in North America) to three factors.

1) All the bubble-idiocy. We've had media-parrots talking about a gold "bubble" since gold broke above $700/oz.
2) The "we buy gold" vultures. Saturate the air-waves with ads suggesting that SELLING gold (and silver) is the "smart" thing to do, and the sheep will take their cue.
3) FORGETTING HISTORY. This is clearly the most important factor. Listen to the following clip (if you haven't already heard it), and hear how much more sophisticated is the understanding of the average Asian - when it comes to precious metals, and "money".
written by swsprime, September 03, 2010

How come when people like you speak so lucidly about Gold and Silver and PM's vast value growth potential that so few investors pick up on the fact? Its' like we are still a close group working together to a common end. To misquote Shakespeare a little:

We few, we happy few, we band of brothers;
For he to-day that buys his PM share with me
Shall be my prosperous brother.

Hmmm, maybe not, it sounds a little too sententious doesn't it?

Anyway, on a more practical level, JP Morgan and HSBC's cheating shorts have now set up an ideal market for the small intelligent investor to thrive in. As the Dow crashes, (as it will,) Gold and Silver will rise in a spectacular fashion until the Dow Index:Gold Price reach at least parity or better.

So buy physical Gold and Silver and well researched Mining Stock now!

Re Silver: Don't worry too much about Industrial problems associated with hiked Silver prices, the amount of Silver used in each unit of production is tiny and the effect therefore on manufacturer's profit margins is very small. However, Industry MUST have its' Silver fix no matter what the price so that particular slice of the demand cake is fairly inflexible.

Also because the amount of silver used in each unit of production is so small it is not practicable to recycle it, so that slice of the supply cake is also fairly inflexible too.

With Silver, as investor demand grows, we are talking about market shortage and medium term inflexibility - there are no more world strategic stocks of Silver, recycling can only increase a little and it takes seven years to bring a new Silver Mine into production - so that's seven years of rising prices!

Keep the up these great articles, if each one helps just two or three new investors to see the PM light it will be well worth it.

written by dlmaniac, September 02, 2010
Well reasoned like always, Mr. Nielson. Always a pleasure reading your silver analysis.
Brian Boutilier
written by brian boutilier, September 01, 2010
Well played sir, well played.

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.


Latest Commentary

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Latest Comments

Disclaimer: is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form