long time side effects mentat ds syrup can i order painkillers online buy cheap bupropion sr prednisone side effects in dogs long term what is generic viagra spam use geriforte syrup coupon online buy cephalexin online overnight billig trileptal online kaufen zanaflex 2mg tablet terbutaline sulphate how much does sominex cost wellbutrin sr for sale uk canada buy prednisolone without prescription western drug lady era cardura canadian pharmacy bactrim iv rxlist order mexitil rx flagyl 500mg dose bromocriptine parlodel dose buy ceftin pills in the australia where can i get some fertomid chloroquine delivery london buy bupropion with paypal what is the medicine abilify used for alesse medications triamterene order ponstel on line no script betapace without insurance what is baclofen 10 mg a narcotic carafate cause weight gain no prescription paxil sale retin-a 0,05 pharmacy order crestor uk next day delivery pharmacy placement interview questions safe place order vpxl genuine xeloda best price ordering levitra viagra online can we trust augmentin online what is celebrex used for lotrisone low cost voveran prices at costco top 10 online luvox sites buy prevacid online viagra jelly generic for lexapro on line in the usa pharmacy has best price nitrofurantoin cheapest propecia tablets uk anacin cheap price is there a generic celebrex canadian pharmacy zofran generic effexor xr online viagra super force wellbutrin no prescription online lithium carbonate 300mg tablets benzac from usa pharmacy fast online refills buy sinequan cozaar tablets side effects purinethol buy online ireland what is fucidin h cream used for cheapest acivir pills tablets uk original brahmi online blopress online shipping india olanzapine price buy coumadin no prescription fast delivery prazosin pills drugstore buy medrol with e check buy brand mevacor over the counter alli slimming pills elimite mexico order finpecia online no prescription with a echeck depakote and diet pills pictures of coreg pills cleocin tablets 150 mg discount pharmacy buy cheap strattera canadian pharmacy pain medications celexa tablets for sale what are the side effects of long term use of zyrtec allopurinol 40 mg pharmacy what drug category is inderal lloyds pharmacy paypal cialis professional drug oversea micronase uk online dilantin 100 lotrisone legal us levitra viagra vs cialis zofran mexican pharmacy overnight haldol max dose online pharmacy uk femcare generic pletal safe best site for fucidin ramipril cough when to stop can i get skelaxin homeland season 1 episode 12 flonase for sale philippines order zyban without order altace online xenical no perscription necessary buy diclofenac gel new zealand online zofran lowest price online is generic phexin effective clomid medication interactions cheapest terramycin in the uk buy forzest online from usa overnight pharmacy lasix prescription order roaccutane cod overnight delivery brand florinef for sale ondansetron dose nausea cheapest crestor tablets uk benadryl woldwide shipping where benzac exelon 100 review ditropan xl price buy premarin generic furosemide pills online in the australia best price tulasi ephedraxin usa kaiser mail order pharmacy phone number northern california glyset order canada promethazine reviews and dosage order accutane 80 mg where to get femara legal buy entocort online canada dosage for amoxicillin 875 mg buy clonidine online canada how to take viagra correctly zestoretic without rx get naprosyn las vegas buy tramadol overnight with mastercard online apotheke voltaren schmerzgel purchasing vermox online cheap sominex india buy hydrea online amazon how to buy accutane in canada costco online prescriptions canada cytoxan new zealand check youtube stats synthroid doses chart over counter medication same nexium can you get viagra from canada does alcohol affect the effectiveness of flagyl levitra vardenafil professional high blood pressure medication side effects cymbalta buy ditropan with acquisto decadron sicuro online cephalexin 1000 mg ordering cheap glucophage generic buy confido tablets generic alesse lutera prescription 4 lipitor participating pharmacies side effects of pariet 20mg toronto drug store fake post cycle therapy depakote what is nitrofurantoin mono mcr used for imitrex cost in canada buy levitra professional tablets us going from 50 mg to 100mg of zoloft generic flovent switzerland weight gain from seroquel xr viagra plus online forum wo bekomme ich viagra ohne rezept her online pharmacy 4 u cure ramipril cough nitrofurantoin pas cher italie myambutol online in us long term side effects prednisone children generic speman for sale on line resources for viagra comprar pletal portugal where to buy protonix with echeck is effexor xr generic ciprofloxacino normon prospecto viagra store in malaysia finasteride proscar propecia side effects top 10 online himplasia sites how well does accutane work prevacid 30 mg over the counter como usar p57 hoodia periactin mexico prescription overnight female cialis order on web viramune ns2 lerk cheap pills online cheapest acai berry uk ranitidine dosage too high allie finkle rules for girls bookstore in order best place to order colchicine in us what is azulfidine avodart in the uk oral diflucan dose for ringworm buy online voltaren generic revia canada pharmacy elocom lotion side effects legal buy roxithromycin online canada price comparison levitra cialis viagra can you order zaditor save mg thyroxine side effects weight gain zebeta 100mg cheap generic benzac overnite shipping online pharmacies legal us purchase avodart drug maximum dose doxycycline dogs best levitra professional prices 20mg viagra reel sur le net cozaar to buy in england safe black market viagra how to order propecia from canada order tretinoin 0 025 lowest price colchicine discount card where to buy prozac no prescription what is buspar pills used for cheapest place to buy nootropil acquistare micardis in italia what does flonase nasal spray do side effects the vitamin shoppe hours research grade lariam cheap robaxin usa prednisone 5mg tablets price where aciphex isoniazid combination tablet zantac 150 weight gain wwwcanadian-pharmacy-24.h.com lozol paypal effexor xr drugstore com accutane after 20 years elavil on line in the india unisom online in us reviews on alesse birth control forzest prescription only paroxetine pills online in the mexico can you order trandate speman generic name alli side effects in layman;s terms best price for real tretinoin 0,05 como comprar seroflo effexor xr 150 mg overdose keppra overnight online actos purchase 15 dollar alli coupon buy viagra canada paypal buying lipitor online apply metronidazole gel bv albendazole generic price buy generic zestril with bonus proventil generic uk propecia india 0.25 mg cheapest ceftin online tri-cyclen lo alphagan p cost 5 mg cialis for sale prandin next day delivery buying sinemet using paypal billig ayurslim online kaufen tadapox online cheap long term side effects of kytril pyridium looking for how to order xeloda online malegradxt how much does 100mg imitrex cost to buy trandate is relpax better than maxalt trileptal 100 review albendazole cheapest rate ou acheter alliance sims medieval best site to buy actoplus met cardizem dose for afib cheap pletal pills generic floxin otic solution youtube jack in the box viagra commercial can acai cause weight gain what is viagra used for differin pharmacy prices list canadian alliance terminals richmond bc elmbridge way can you buy amantadine canadian lowest buy alli 20 mg pulmicort dose adults fastest cardura uk delivery hyzaar fort 100/25 mg sale hyzaar overnight buy ciplox greece cialis jelly generic 2013 drugs buy levothroid greece doxycycline hyclate tablets india vpxl online coupon code anxiety treatment for dogs tamoxifen purchase cheap webs where can i buy real viagra norvasc mg buy purchase elimite online international pharmacy no prescription xenical pills online in the australia side effects of hyaluronic acid tablets female cialis online overnight shipping arimidex 1 mg in india buy estrace with e check what does buspar make you feel like lowest priced periactin order prednisolone from india without prescription prevacid price over counter buy benfotiamine online cheap long term health effects of propecia anacin legal in england buy shuddha guggulu in india online how much does a 30 day supply of abilify cost 6 Purchase aciphex 20mg tabs new drug better than viagra nexium norx buy online cialis dose for ed zetia how to get calan premarin suppliers overseas generic name for prometrium depakote generic diflucan generic name fluconazole a good web page to buy exelon with no script can order ciplox canada prednisone 10mg shortage chlamydia screening poster zanaflex order online no prescription buy plendil perth australia overnight pharmacy cabgolin real viagra online without prescription tamoxifen pills buy purchase zanaflex online no prescription us online pharmacy no prescription dramamine propecia 1 mg versus 5 mg instructions on how to use advair diskus taking synthroid and weight loss online generic chloroquine pfizer brand viagra no prescription function of the parietal lobe yahoo answers diovan sales for 2009 acheter procardia pas cher noroxin price seroquel medication anxiety pyridium patient reviews http performance insiders male enhancement reviews isoptin 40 mg pharmacy venlor canadian pharmacy seroxat overdose symptoms can you take ortho tri-cyclen daily real cialis brand to buy diovan yearly sales first generic estrace cream dosage information sale prescription cheap tadapox atorvastatin patent expiry exelon energy houston fluoxetine 20 mg for anxiety ordering glucophage prescription needed discount buy protonix 5 buy female viagra from canada retino-a cream 0,05 medicine children what does the drug atarax do cipla pharmaceuticals ltd. goa online pharmacy doxycycline buy canada no prescription for diovan cialis online from uk yasmin discontinued what is the correct dosage of lasix fluoxetine tablets 20mg side effects what is compazine drugs aciphex canada price cyklokapron over the counter dapoxetine tablets buy valtrex next day viagra 100mg cheep free or low cost albendazole buy lipitor tablets us cialis black 800 mg reviews orlistat online coupon code generic aygestin in usa buy brand pfizer viagra keflex in italia como comprar viagra sin receta en buenos aires buy depakote discount purim perth australia much does lamisil prescription cost trental without rx best uk drugstore concealer buy abilify pills in the australia what is bactroban cream 2 brand cialis supplier in uk can you snort promethazine hydrochloride 25 mg brahmi no rx zovirax 200 mg 25 tablet cipro generico online generic moduretic prednisona kern pharma 10mg van you order diflucan online cicloferon cream lotensin online usa no prescription buy viarga with a mastercard fertomid now co uk ampicillin sulbactam reconstitution us pharmacy online acai losec infusion spc viagra dosage 150mg donde puedo comprar fertomid claritin loratadine tablets 10mg erexor max dose how to order revatio online drug market order topamax what is anafranil tablets where do i buy live tilapia buy compazine online reviews different asthma inhalers colours uesp skyrim meridia;s beacon misoprostol over the counter canada alli precio 120 capsulas doxycycl hyc 100mg tab side effects getting viagra sublingual in australia vantin discount voucher order accutane 20mg diamox over counter clomiphene citrate tablets 50 mg remeron mg tablet haridra pharmacy order best place buy zyvox pct buy canadian generic viagra triple strength blue pill review buy acticin generic online how to take alli weight loss tablets aricept 5mg cost can order vantin canada purchase anafranil cheap where purchase doxycycline lexapro 10 mg retail price evecare order on web no rx caverta online use lithium coupon online sustiva weight gain what is the dosage for diclofenac tamoxifen cheap canada pharmacy cilostazol pletal price diflucan bonus pills what are the side effects of provera cipro xr generico zaditor online in us heart medicine digoxin ordering lithium usa cystone pills fake alli diet pills pictures of different asthma inhalers where to buy aromatherapy inhalers yasmin costco best weight loss pills 2012 for men where can i buy nizagara mg what is avandamet drugs cordarone tablets price can you get a yeast infection from biaxin online pharmacy uk zofran ventolin over the counter france lipitor buy online us buy procardia online cheap dramamine no prescription needed coversyl plus uses ordering diovan usa triamcinolone side effects hair loss revatio drugs com buy dostinex lowest price doxycycline hyclate 50mg capsules uses can you get ciplox over the counter evista drug store online levaquin medication where to buy chloramphenicol ear drops medicine recommended viagra dosages does accutane gel work dulcolax online kmart generic drug list pharmacy doxycycline shelf life expiration how long does voltaren rapid take to work metformin without rx zantac tablets 150mg pastillas cytotec genericos bupron sr for sale online side effects of actos 30mg where to buy accutane with no prescription i pill cyklokapron website buy malegra dxt boots i pill vantin website buy shallaki bulk buy trazodone discount lopid for purchase decadron oral pediatric dose tamoxifen dosage steroids what is protonix good for bupropion dosage instructions bupropion brands india prednisolone without script generic drug zestoretic digoxin visa buy cytotec perth australia buy generic flomax with bonus what is ciprodex used for buy cipro online india arimidex pas cher buy remeron 10 premarin tablets price what does lithium do mexican plavix buy coreg online no prescription united states culturismo femenino argentina do you need rx shallaki most reliable place to buy lotrisone online nootropil lawsuit recommended daily dose of hyaluronic acid generic trial erection packs 3 india healthpoint little blue pill difference between seroquel and seroquel xr order elimite medication by mail cheap toradol no prescription over counter actoplus met generic name trimox trial erection packs 3 lowest price kamagra soft medication skelaxin prescription only doxazosin spain over counter buy prograf astrailia there generic available cozaar furosemide tablets us online can i buy primatene mist in canada lantus glargine solostar ampicillin drug in mexico pharmacy eulexin over counter uk nolvadex tamoxifen 10 mg pharmacy that sells acivir pills cheap genuine xenical online use malegra dxt coupon online coumadin clinic oak ridge tn buy reglan online no prescription us pharmaceutical companies ukraine geriforte usa buy crestor online in usa generic viagra soft usa pharmacy legal to buy ephedraxin premarin estrogen replacement pills generic advair diskus 100 80 how to use cialis daily clozaril on the internet buy zerit without rx is it safe to order casodex order oxybutynin ditropan xl top 10 online evecare sites levitra professional dosage recommended ortho tri cyclen lo without prescription for louisiana can you buy aleve online pravachol discontinued robaxin online price canadian healthcare drugstore online reviews online pharmacies no prescription canada too much levothyroxine side effects albenza wanted online review cordarone tablets on line to buy silagra no prescription fedex ups blopress plus costo alli estare' en italiano buy online finax generic antabuse on line purchase buy albendazole 5 buying colospa using paypal amlodipine tablets spc how does fosamax prevent osteoporosis cheap brand cialis buy online all types abilify pills is generic ophthacare available in usa trial erection packs 3 overseas disfuncion erectil diabetes mellitus tratamiento acheter pas cher pilex how to buy zestoretic in canada cheap tamoxifen india lasix order side effects of prednisone 20 mg tablets altace cough treatment adalat xl dose trial viagra offer ordering buy aciphex prescription neurontin legal us tetracycline lawsuit buy zaditor online shuddha guggulu medicine online where to buy prednisolone for cats dosage buy prandin online no prescription us online generic atacand best online pharmacy generic cabgolin generic from zerit where to paroxetine drug compulsive yasmin prescription drug buy dipyridamole with no script comprar levothroid original what does risperdal look like acheter pas cher reglan order suhagra cheap proscar pill canadian buy ampicillin boots pharmacy provera worked now what generic compazine nausea nexium in uk cheap crestor sale uk zoloft over counter uk 10mg canadian amlodipine besylate pharmacy dove acquistare cialis in italia malegra fxt order canada lasix-uni-pharmacy buy viagra nyc buy american ginseng uk provera tablet sale where can i order accutane online generic substitute for benicar valaciclovir discount buy amoxicillin no prescription uk minipress generic name zyban and champix together zofran shop online levitra super active drug store online what is isoniazid tablets used for biaxin cheap uk pharmacy what dosages does keppra come in where to frumil cost of lioresal without insurance reliable mexican online pharmacies legit place buy viagra buy prometrium from canada sunrise tadalafil india side effects of olanzapine drug resources for skelaxin purchase rosuvastatin lowest price german remedies mumbai website sale pill generic levitra professional maxalt 100 buy lamictal in usa medrol dose pack pills buy viagra pills cheap best viagra super prices active uk pill buy avalide cheap drugstore what is lipothin used for generic bactrim ds identification cialis limited india phenergan cost comparison prescription drugs generic buying detrol from canada no prescription over the counter glucotrol cafergot tablets dosage noroxin online price buy canadian medications cheap hotels in calangute goa suprax discount code olanzapine paypal rogaine 2 usa lasix rx no rx rhinathiol tusso 100 mg acheter atarax sirop how can promethazine get you high buy celebrex greece where can i get cystone pills proventil inhaler sale buy online prednisone paypal augmentin dosage chart claritin price publix free next day delivery viagra viagra professional without prescription canadian levitra generic zoloft consumer medicine information where can i buy dostinex in australia cialis 100mg dosage olanzapine spain lithium medication wiki list of tesco stores selling mestinon noroxin to buy in england cheap clomid what countries are allies with mexico generic uk paypal strattera non prescription diakof buy xenical orlistat us cialis 2.5mg generic is generic levitra real propecia chute de cheveux au de'but nizoral 100mg tablet allopurinol medicines.ie generic plan b pill side effects how much does walgreens pay indinavir reviews for men buy accutane in usa can i get clomid in mexico cheap zantac uk amoxil 1000mg side effects can you order rhinocort withdrawal from trazodone symptoms antidepressant viagra jelly tablets side effects benzac come si usa cheapest proscar online donepezil hydrochloride solubility maxalt from canadian pharmacy cheap price buy canada no prescription for sinemet cialis overnight delivery us better than finast revia refills metformin and alcohol interaction where is dramamine in target where can i buy tetracycline eye ointment what is wellbutrin for adhd what is nitroglycerin used for medically discount skelaxin mg buy fincar new zealand online order avapro 300 mg benemid in the uk acivir pills uk next day delivery generic cephalexin capsules neurontin 600 mg 50 c,entikli film tablet nedir can you buy prednisone over the counter in germany buy propranolol australia american depakote lipothin tablets price buying valtrex without a prescription buy dutas online in usa endep by mail order discount canadian pharmacy buspar crema elocom para que sirve how to get glucophage price of flonase without insurance where do i buy astelin duphalac dose for babies 24 media group buy ranitidine online with no prescription best price zenegra stats group houston buying shallaki carafate reviews scabies medication elimite legal to buy voltaren dove comprare propecia on line provera tablets nhs buy nizagara online at canada pharmacy haridra uk buy serpina hotel gumbet reviews celebrex without tofranil low dose birth control prilosec pharmacy mail order buy amlodipine best place buy nolvadex discount prescriptions at cvs venta de viagra en trujillo peru online clonidine purchase arava buy pilex tablets online wellbutrin reviews anxiety zanaflex store relaxant fibromyalgia epivir-hbv roche precio argentina bactrim buy uk fincar 40 mg dose albuterol buy no prescription take clomid post cycle therapy ceftin not working for sinus infection ulcer medication carafate buy carafate from india how long for lipitor to get out of system what is aspirin for in eca stack lisinopril 20 mg side effects buy alphagan 0.2 brimonidine zoloft overdose long term effects can you buy lisinopril canadian pharmacy can you take cialis super active daily cheap us accutane without levitra professional delivery uk kamagra oral jelly mg price kamagra now contact us cheap prices recommended prednisone dosage for poison ivy adalat retard 10 mg side effects generic viagra reviews forum pharmacy cheap serpina buy cheap ramipril altace prescription cleocin online avalide online in us significado actos wikipedia tofranil legal us where can you buy buffered aspirin clonidine suppression test side effects etodolac medication and side-effects order aciphex pill order diflucan on line mexico buy viagra plus 50 buy olanzapine 5 where purchase lotrisone cheap per pill buy ampicillin brand online forum buy advair diskus order cystone tablets where to get viagra singapore where do i buy hydrochlorothiazide what are the long term side effects of celebrex buy cholestoplex mexican pharmacies generic uk paypal seroquel stromectol tablets 40mg zoloft online pharmacies with out prescription side effects of adalat la 30 synthroid online sales cost of benadryl cough syrup what does allegra d 12 hour look like fexofenadine pseudoephedrine 30-day free trial viagra clomia online that takes echeck tricor in canada provera online buy can you buy differin over counter buy genuine strattera uk what is azathioprine tablets online generic cialis super active buy aleve for daily use buy caverta in singapore low cost januvia azithromycin 250mg dose 5 day where to buy allegra d over the counter contains roxithromycin by mail can i take sleeping pills with propranolol over the counter antibiotics boots can amoxicillin treat chlamydia and gonorrhea infections reviews on trazodone 50 mg how much folic acid to take with methotrexate best online pharmacy generic allopurinol propranolol 40 mg uses buy atrovent online no prescription us cheap medications for dogs where to buy zovirax in canada safely coumadin how to take with food 6 mercaptopurine side effects tetracycline dosage for fish walgreens sale alli delivery cheap combivent cod prescription accutane lawsuit news june 2012 generic name for exelon patch buy over the counter femcare online use pletal coupon online proventil without a prescription from canada how to buy cialis sublingual in london cialis without prescription buy drugs cheap generic avapro thuoc duphalac 667 buy vasotec online safely birth control pills proscar paroxetine shop long term side effects of hydrea how to tell a fake viagra pill most common side effects of florinef artane tablets online canada drug center promo code 2013 how to take shallaki mg cialis jelly to buy in england best place to order tadalis sx in us cheap buy clomid online get norvasc toronto non prescription viagra nz benfotiamine tablets uses buy tenormin online india i pill midamor website buy aciclovir online from canada lithium grease rubber safe canadian pharmacy norvasc methocarbamol side effects in women canada brand cialis sex tablets accutane settlement history acheter fucidin cream buy clonidine mg online metronidazole dosage dental atrovent for purchase generic viagara cephalexin online coupon code levitra canada vgr 100 side effects best place to buy doxycycline online generic for aricept donepezil what is chloroquine tablets eulexin precio mexico zovirax uk boots pastillas cialis para mujer buy biaxin is propecia available in generic what does allegra treat fexofenadine prednisone 20 mg 5 days side effects coumadin discontinued fastest calcium carbonate uk delivery us government fda approved online pharmacies free coupon for zyloprim legal buy singulair online canada dostinex dosage recommended depo provera medication interactions evecare how to buy cheap generic micardis sertraline hydrochloride and alcohol buy levitra 5mg best price for ceftin how long does it take for atrovent to start working revista online natura ciclo 16 paroxetine side effects in men order brand advair diskus overnight xenical 120mg hard capsules side effects what is prednisolone tablets 25mg used for arava rx amantadine shortage 2012 fertomid to buy in australia pediatric decadron dosage can a doctor write a prescription without seeing the patient levofloxacin spc emc side effects of antivert 25mg how long does it take for zovirax to work on genital herpes sumycin not generic cheap generic viagra co uk view cart cheap duetact sale uk plendil overnight delivery best site to buy lopressor citalopram canada pharmacy sale lukol probalan prices usa current price lanoxin zovirax tabletas 400 mg precio cleocin drug schedule diclofenac bonus pills can i get high off depakote purchase zovirax cheap acyclovir prescription how to use suprax motrin dosage for dogs why is there a reglan shortage alphagan pills online in the usa coreg low dose birth control going to mexico to buy prescription drugs cipla ltd factory bangalore strattera coupon code emsam discounts codes buy augmentin online from india best price for real ayurslim lamictal pills sweat how much zofran to take when pregnant atrovent reviews for men cheap ceftin no prescription combivent buy cheap generic pills for ralista bupropion order online avalide tablets recall purchase abana lowest price artane order by phone how to take soft viagra tabs diflucan one side effects lexapro dosages medication how much is zyban without insurance cefixime 400 mg uses duetact medicine children allegra over the counter what is in dramamine that gets you high viagra professional online usa no prescription buy proscar low cheap price bystolic medicine children half price elocon aciphex 20 mg tab caverta with american express where to levitra plus how to import renagel rhinocort aqua nasal spray 64mcg ordering motrin zoloft for sale uk ondansetron hcl 8 mg pregnancy astelin discount card buy bactrim online at canada pharmacy buy cheap lamictal pills buy fucidin without prescription buy accutane 15 mg lukol generico italiano buy strattera pills in the uk purchase ortho tri-cyclen lo online alli weight loss coupons 2013 allopurinol medication until later blopress 16 mg tablet cost of clomid australia antidepressant mirtazapine and alcohol canadian prescriptions online generic for haldol what does diltiazem cd look like womens viagra australia bystolic barato buy keftab overseas glyset shelf life birth control pills zetia what is avodart prescribed for how to buy plavix generic for differin 0.3 gel how long do you take nolvadex for pct is viagra the same for men and women how much does lipitor cost at costco best price generic wellbutrin can you order vytorin can you buy zovirax over the counter in australia antivirals zofran generic name and brand name cozaar for men sale in uk order suhagra canada indian generics online zaditor cialis 5mg works can i buy lamisil in canada viagra super force for sale florida state university alli speed bula aciclovir comprimido 400 mg where can you get arimidex buy cheap generic avapro prescription safe antabuse buy how to get aricept on line non prescription eulexin viamedic review lisinopril medicine effects altace 10 mg effets secondaires tofranil bedwetting reviews benefits of testosterone therapy for men sildenafil tablets for sale buy sertraline 100mg online aldactone prescription medication atarax hydroxyzine for dogs where can i buy live yeast buy albendazole without prescription generic shallaki in usa shatavari price in india robaxin from canada long term side effects of clonidine fluoxetine birth control online us can i order cefadroxil online order aldactone without rx albuterol sulfate nebulizer pediatric dose where to buy estrogen pills in singapore medrol tablets 4mg blopress on line purchase buy over the counter baclofen online buy viagra soft online from canada is it legal to buy viagra on the internet buy ditropan discount purchase chloroquine online what is entocort ec used for lilly cialis 5mg cheap genuine hyzaar online what types of rogaine 5 are there order phenergan online no presctiption safe buy lariam online diclofenac gel 100mg cheap atarax on line in the mexico clomid steroids dosage drug market order evecare generic seroflo for sale on line 1 guy 1 jar official video link how long to take bactrim for mrsa alli australia price where to lariam safe buy fucidin online cialis professional drug schedule can you buy furosemide over the counter in germany clomid for men to increase sperm count which works better xenical or alli nolvadex online in us buy toprol xl usa mail order levetria buy prometrium cream forged alliance build order topic kamagra chewable sublingual dosage singulair online australia difference between prozac generic fluoxetine erection packs 11 discount pharmacy canine doxycycline dose lyme disease accutane pharmacy isotretinoin discount need prescription for propecia raquel allegra online mexican pharmacies oxycontin script weight loss medicine alli physical signs ovulation clomid what is meloxicam tablets buspar delivery all types ayurslim pills midamor overnight shipping cheap buy canada no prescription for lasix trial erection packs 2 uk boots cheapest dilantin tablets uk tricor in the uk cymbalta coupons buy online glycomet generic zyban uk next day delivery generic moduretic switzerland cefixime australia pharmacy how to get cholestoplex in australia torsemide vs. furosemide dose what does dulcolax where is hyaluronic acid found naturally topamax alcohol withdrawal non prescription prandin online no prescription us cheap antibiotics astelin tablet sale keflex side effects taste 100 mg cytoxan mircette free shipping haldol dosage for elderly cialis professional buy mexico how much is maxaman tablets buy eurax what does dramamine do to you comprar amitriptyline pela internet can you get saw palmetto sales generic zyvox online how much is alavert tablets bactrim f para que sirve retino-a cream 0,05 next day delivery can i buy pyridium over the counter cymbalta capsules used for elavil medication order endep dosage instructions low cost overnight cordarone order acai berry juice what types of januvia are there viagra jellyfish sale online what products are in viagra what is zofran taken for antivert in canada ditropan medication class zyprexa 100mg tablet viagra online store coupon buy sinequan online cheap wellbutrin buy no prescription credit card low price minocin uk flagyl 500 mg cost where do i buy levlen amoxil birth control online canada serophene ovulation chart cheap viagra online canadian pharmacy lowest side effects of azathioprine risks atorlip-20 order by phone pain during ovulation clomid american ginseng benefits cancer augmentin suspension pediatric dosage buy levothyroxine 0.1mg without prescription from india india neurontin price tretinoin 0,025 for men in usa prevacid woldwide shipping buy lithium ion batteries australia clomid success rates by age what is prednisone 5mg side effects what is aceon used for is malarone better than lariam seroquel medication overdose bupropion better than budeprion how can i get birth control without a prescription celebrex sales by year buy zoloft wo a perscription propranolol 20 mg tablets augmentin dosage sinusitis is rumalaya forte legal in uk lov cost nitroglycerin comprar cardizem pela internet cefixime 200 mg dosage how to take famvir liquid viagra drink shot atarax pills drugstore how to use nizoral 2 vandagraph trimix analyser atarax 20 mg why can;t i buy alli anymore withdrawal from zyprexa vigra tablet for sale generic actos when diabetes danazol order zanaflex mg india can you buy meclizine online chloramphenicol where to purchase purchase renagel lowest price what is clomid used for in bodybuilding is viagra a cure for premature ejaculation toradol store canadian health insurance providers illegal buy antidepressants online zyrtec d drug class anacin tablet sale shuddha guggulu sale can coreg get you high kamagra soft on line no script discount code for tamoxifen cheapest brahmi in the uk purchase online cheap bactrim without sale buy cheap zebeta micardis generic date premarin suppositories buy non generic cheap amitriptyline buy generic cipro online with prescription nolvadex dosage during cycle proviron and nolvadex for pct hydrea online usa no prescription what is valacyclovir hydrochloride 500 mg side effects risperdal generic 2008 buy cialis professional perth australia ortho tri cyclen lo acne treatment online pharmacy school degree ordering femara vendita viagra san marino pharmacy mexico forzest buy alavert inhaler canada can you order adalat skelaxin 800 mg price tegretol xr generic drug birth control pills plendil quickest digoxin prescription aciphex side effects azithromycin 250mg tablets 6-pack uses what is augmentin given for how much is a pint of promethazine worth side effects of ciprodex ear drops canadian neighbor pharmacy scam where can you buy hoodia lollipops benadryl dose for toddlers suprax gonorrhea dosage brand diflucan buy ceftin cheap cost of toradol shot silagra birth control online canada med cab lexapro zoloft best price viagra long after eating target pharmacy diclofenac gel generic casodex cost lantus insulin pen coupons canadian pharmacy diovan is generic amaryl effective long term side effects of diakof forum buy flonase online cash fertomid medicine children sumycin barato voveran sr from usa buspar canada pharmacy ayurslim dosage instructions canada order motilium over the counter floxin drugs similar to zyvox florinef tablets on line to buy how to order viagra pills how to take isoniazid mg roxithromycin in the uk now generic uk paypal paroxetine effexor xr online without prescription pharmacy technician online college clonidine next day delivery what does paroxetine 10 mg look like canada pharmacies online that sell prometrium buy sumycin mg online prednisone otc equivalent cheapest nexium prescription zoloft 100mg buy lowest price lipitor canada buy glucophage without prescription buy compazine drug serophene delivery uk best place to buy lexapro in usa what is the highest dose for lexapro buy fucidin online with mastercard how old are s club juniors now mexican viagra liquor generic name for apcalis sx over the counter lithium for bipolar clozaril maximum dosage what is trazodone hydrochloride 50 mg taking viagra sublingual teva effexor xr generic mail order lipitor phone in order for albendazole tretinoin 0,05 next day amitriptyline 150mg no prescription mastercard intravitreal triamcinolone discount code for arimidex viagra without prescriptions illegal buy cheap order aceon online without rx buy pulmicort online no prescription us can you break seroquel pills buy betapace tablets online what is cymbalta for anxiety overnight astelin online seroquel 25 mg dosage accutane long term side skin effects like online kamagra gold india buy accutane inhaler canada zyban order by phone one stop pharmacy lilongwe indian pharmacy accutane amantadine with american express ebay sildenafil citrate 100mg tab purchase augmentin cheap order what is the generic brand for lipitor there generic brand arimidex can fucidin cream used for thrush hydrea in the uk online styplon india lipothin generic reviews ordering alesse without femara online canada lisinopril manufacturer in usa alprazolam no prescription overnight delivery cheap altace us pharmacy toradol for sale philippines accutane lawsuit side effects order furosemide internet order atarax 10mg proscar 5mg tablets side effects buy ceftin canada clomid twins iui flagyl and birth control interaction order duetact comprar rumalaya gel en argentina how long does it take bystolic to get out of your system quiero comprar prednisolone crestor australia side effects is it illegal to buy drugs from india viagra tegretol xr cost over counter viagra substitute canada phenergan trusted online drug stores in canada cleocin how to buy where purchase viagra super active canadian drug policy consortium rumalaya liniment uk online can you only get shallaki on prescription what does aldactone meclizine 100 minocycline order on web ways of increasing sperm count how to import prednisone is liposafe available on line in canada shortage of allied health professionals where can i get orlistat mupirocin calcium ointment cheap antipsychotic buy zyprexa motilium tablets over counter venda alli internet canadian drugstore lasuna uk next day delivery cafergot for men sale in uk american express aeroplanplus platinum card canada zovirax cream genital herpes kamagra billig kaufen avodart shelf life generic price allopurinol 300mg buy alligator meat florida cialis professional generic 2013 drugs diprosone lotion side effects requip online purchase valtrex pills minocin drug induced lupus what does calcium carbonate look like glyset online uk suppliers of brand viagra in us canadian lamisil online prandin usa cvs prices chloroquine over counter cheap online pharmacy uk generic uk paypal levitra difference between meloxicam and ibuprofen good champix reviews onde comprar nexium 40 brahmi no prrescription online canadian pharmacy coupon can i get ceftin azulfidine refills actonel ships from india reviews on elimite acne medicine differin cialis mail buy cheap endep cheapest lotrisone how to buy effexor xr cost of flovent at walmart buy chloroquine tablets alli discount code buy serophene online at canada pharmacy purchase tetracycline on line in usa zestril western australia buy kamagra online uk jelly 100mg valtrex free shipping how long to take livial usa online buy percocet pharmacy overnight viagra commercial good morning como comprar livros digitais na saraiva alcohol and azithromycin 250 mg etodolac tablets 600mg brand deltasone buy side effects of thalidomide treatment what does female cialis innopran xl online uk generic name for allopurinol side effects brand name periactin online lisinopril 20 25 mg side effects flonase side effects in adults buy furosemide 50 buying dutas from canada no prescription generic drug for astelin what is glucophage 1000 mg used for online pharmacy no prescription needed doxycycline trazodone recommended dosage ibuprofen overdose effects cialis and liver damage non generic alphagan no prescription cheap orlistat 60 canada sinemet shortage usa blood pressure medication side effects uk buy cheap ed pills acai berry walgreens pharmacy elavil uk next day delivery muscle enhancement drugs buy levlen 15mg online prescription for zyban can you buy prescription cheap celadrin cod claritin over the counter drug all kinds xanax pills buy viagra canada mastercard rabeprazole side effects dizziness reviews on nolvadex topamax alcoholism treatment does medicare cover cialis for bph psoriatic arthritis omnicef drugs for sale amaryl delivery london cafergot canada no prescription can you buy topamax over counter generic diclofenac sodium ophthalmic where to buy alligator clips canada can we trust zyvox online purchase diovan 80mg nolvadex in india ciprobay xr and alcohol getting etodolac in australia accutane sale mexico pyridium prescription cheap generic viagra pills generic name for synthroid female cialis uk boots florinef noprescrition needed canada online pharmacy zantac overnight delivery anafranil precio mexico aspirin usa zoll professional store buy viagra generic low dose antabuse safe to buy generic revia from usa valacyclovir valtrex cream what antibiotics for ear infection tenormin max dose overnight online pharmacy diclofenac pills mg trental in canada what does benzaclin do yasmin generic cheap costs no prescription buy levaquin online requip generico italiano metformin alternatives medicine decadron tablets propranolol vs atenolol anxiety best place buy zithromax rythmol lowest price femara generic release date buy generic ciplox online medicine tablets amitriptyline hcl most popular birth control brand pills cheap online pharmacy prescription accutane ditropan women buy donde puedo comprar ginseng coreano taking clomid without doctors prescription abilify online propranolol for anxiety reviews low cost online buy avalide cost of mevacor without insurance average price keflex what are the side effects of acai berry cleanse lopressor visa neurontin tablets 300 mg does allegra cause you to gain weight where can you get ginseng can crestor make you gain weight what is the drug coumadin used for what is serevent diskus tadalafila diario can trazodone 100 mg get you high effexor xr spain generic doxycycline hyclate delayed-release tablets retin-a 0,05 prescription only maximum dose of lexapro for ocd ondansetron tablets package insert ampicillin india price does lisinopril weight gain can you buy levitra plus in ireland canadian imitrex no rx generic metoclopramide price is mail order dostinex safe brand cialis us pharmacy tegaserod australia lithium mongodb order januvia coupons savings how much is betapace tablets phenergan birth control online uk celebrex and drinking alcohol propecia side effects in young men finast without rx actos without a script 30mg airmail can you get clomid can you buy naprosyn over the counter in germany ranitidine hydrochloride and domperidone tablets uses v-gel usa sale beconase aq drug class furosemide precio mexico side effects of prozac 60mg 1 cheap aciclovir tablets online 200mg how to order doxazosin finast dosage too high suppliers of ephedraxin in us what is the cost of generic flomax cipla field call site citalopram mg tablets nolva and clomid dosage for pct can doxycycline make acne worse over the counter drugs similar to atarax nexium overnight delivery lopid without insurance zoloft medication on line better than quibron-t buy alligator gar uk generic order zestril overnight pharmacy mexico seroquel buy diflucan online pharmacy buspar from canada pamelor australia price generic clomid for pct propranolol pills drugstore albuterol sulfate 0.083 side effects hytrin in italia purchase actoplus met online no prescription how much is yasmin pills in the philippines paxil withdrawal class action lawsuit buy cardizem in singapore pill yasmin weight gain long time side effects septilin vente de viagra pfizer clotrimazole and betamethasone dipropionate cream usp+buy online safe place order bupron sr diflucan side effects anxiety buy grifulvin v australia zyban bonus pills generic pills for levaquin where to buy furosemide in uk what is nizagara pills what drug category is lady era clozaril now phenamax weight loss ordering viagra online india prescription order prednisone without prescription buy motilium overseas buy clomid cheap price zithromax dose for gonorrhea where to purchase sarafem what bacteria does omnicef treat order viagra canada buy lipothin low cheap price buy generic levitra online with prescription what is tulasi in english generic proscar usa pharmacy drugstore indian press what is the drug maxalt-mlt side effects of anafranil www.myaarpmedicare.com pharmacy directory trainee pharmacy technician jobs northern ireland drug action of ampicillin plendil 5 in india canadian coumadin topamax canada prescription buy levothyroxine online uk online pharmacy no prescription needed chloramphenicol caverta 5mg tablets is there a generic drug for femara order glucophage online without rx buy motilium mg online for buy xalatan bulk generic finax no prescription what does deltasone drug information dosage antabuse purchase in canada no prescription common medication prescribed for anxiety homeland season 1 episode 2 list of tesco stores selling trazodone bystolic brand order domperidone australia pharmacy buy drugs avodart discount avandamet mg benadryl dose for 40 pound child tenormin uk online buy alesse birth control canada online where can i buy suhagra mg can buy minocycline online order keflex cephalexin 500mg generic indian generics online entocort amantadine drug oversea cheapest place to buy doxycycline voltaren forte 50 mg+side effects retin-a ge maximum dosage comprar innopran xl portugal buy wellbutrin 5 celexa withdrawal pyridium new zealand brahmi indian hair oil chloramphenicol brand positioning buy micardis plus online side effects of carafate tablets quiero comprar rumalaya coreg reviews for men voltaren online pharmacy uk best place to buy xenical online can you get viagra prescription at the walk in clinic nexium price order kamagra tablets how long does it take for coumadin to become therapeutic over the counter prescription cheap amaryl generic hytrin in usa ventolin no prescription uk nitroglycerin ointment 0.2 buy compare prices lanoxin order acai burn extreme non prescription pilex pharmacy taking viagra for premature ejaculation aricept overnight pharmacy safe pharmacies online no prescription buy luvox visa avalide india orlistat 10 mg cost cheap deltasone us cod order alphagan how to buy l-tryptophan women buy alli boots price buy mobicox online brand levitra for sale exelon phone orders zithromax generic drug canadian pharmacy online nizoral protonix generic available kamagra gold overnight delivery best price for colospa pioglitazone hcl dosage lamictal supplier in uk cordarone online overnight shipping insulin overdose death isoniazid tablets 300 mg 300 mg buy lozol singapore can doctors prescribe accutane australia omnicef where to get side effects of finax tab reminyl prices order desyrel trazodone buy voltaren emulgel 120g xalatan walmart pharmacy buy eulexin online at canada pharmacy buy torsemide online can you order maxaman donde comprar viagra sin receta en chile diflucan pill size keftab for sale pharmacy mexico ginseng revatio ordering no prescription how much does benzac ac cost post cycle therapy toprol xl buy aricept online without drugstore doxycycline dose canine lyme bactrim dosage drug buy ciplox in singapore where to buy seroquel online uk cheap canadian nolvadex no prescription proscar 5 mg tabletas quickest cheap buy benicar online without to buy vantin lipitor drugs prices ponstel where can i buy it how to buy promethazine codeine will 10mg of lexapro cause weight gain cipro company registration trental buy canada viramune discount card buy viagra in india online viagra online canada no prescription 100mg cheapest buy cheap generic zithromax can you legally order viagra online buy alesse birth control prescription nitroglycerin by mail order zenegra without insurance glucotrol xl purchase in canada no prescription motilium generic for tegretol online forum do i need a prescription for motilium buy nitrofurantoin in singapore clonidine to buy in australia pyridium dosage for children buy retino-a cream 0,05 greece amoxil price haridra generic 2013 drugs cialis gel canada counterfeit cialis india shallaki tablets online to buy propranolol in uk top 10 online pulmicort sites canadian pharmacy avalide topamax price usa buy synthroid online uk precio del lipitor en mexico cheap genuine diltiazem online cytotec precio cali colombia cheap viagra jelly all needed effexor xr venlafaxine lady era for sale uk purchase ranitidine 150 mg fertomid generic release date average cost of finasteride zovirax boots quickest avapro diflucan online forum what does prednisolone do for dogs keppra women buy best online pharmacy generic mevacor discount aceon mg zyban shortage cleocin pharmacy cheap clomid online australia buy kamagra india online pharmacy evecare without prescription canada buy ophthacare australia how much is triamterene tablets order noroxin canada ebay viagra sale furosemide by mail order ortho tri-cyclen online uk bactrim order online antidepressant better than effexor xr reglan online overnight shipping trimox perth australia buy retin a micro gel ultra low dose robaxin anxiety symptoms uk fertomid shopping no prescription pharmacy turkey baclofen over the counter no prescription allopurinol erection packs 1 generic buy cleocin 10 usa buy antabuse without prescription yasmin contraceptive pill usa buy phenergan 25mg albenza australia comprar naprosyn pela internet orlistat prescription cost anafranil tablets for purchase buy desyrel in india online can men use hydroxycut max keppra rebates coupons furosemide online dictionary where is broadchurch filmed at what are the side effects of plavix 75 mg how to get cheap car insurance grifulvin v 500 mg dosing nymphomax medicine online citalopram ships from india zyrtec dosage for cats decadron price india gyne-lotrimin dose where can i buy dulcolax super kamagra next day is it safe to order cholestoplex amoxil tablets 40mg bentyl side effects forum
Saturday, November 22, 2014
   
Text Size

Search our Site or Google

Exposing Silver Mythology, Part II

Articles & Blogs - Silver Commentary

User Rating: / 10
PoorBest 

In Part I, I laid out for readers the extraordinary scenario which exists in the silver market today. The individuals/entities operating the silver market; compiling data on it; and reporting on it (at least from the mainstream) display no understanding of either the general principles of markets, nor of the specific fundamentals of their own sector.

In the first part of this series I focused on analysis provided by GFMS, one of two quasi-official consultants for the silver (and gold) sector who provide the data most widely relied upon for this market. Specifically I looked at GFMS’ reporting on the silver market for the year 2002. I noted that despite the price of silver hovering near its 600-year low; despite the fact inventories had plummeted by more than 75% in little more than a decade; and despite the fact that production was currently falling; GFMS saw neither any need nor any indication of higher prices for silver. Indeed, these “experts” even mused that the price might fall further.

How utterly flawed was what GFMS passed off as “analysis”? Even after the roughly ten-fold increase in the price of silver which immediately followed this, inventories have continued to decline. Meanwhile the silver sector itself remains so depressed that even after this massive surge in the price, silver miners have been unable to increase production by more than a percent or two each year. In short, GFMS has displayed zero comprehension of this market, and the fundamentals which comprise it.

This brings us to the official regulator of the ‘rigged casino’ known as the Comex silver futures market: the CFTC. As with GFMS, the CFTC claims unrivaled expertise but displays nothing but ignorance and ineptitude. In 2004, the CFTC dared a rare response to the ongoing accusations of “manipulation” in this market. To the CFTC’s credit, it almost managed to competently frame the issues:

The allegations that the CFTC has received can generally be summarized as follows. With silver consumption exceeding new production for many years, it is generally acknowledged that the production deficit has been primarily filled by a drawdown of stocks. Some argue that this decline in silver stocks cannot persist and, since stocks have fallen to low levels, silver prices should have been rising sharply. There is further conjecture that, over the past 20 years, a group of commercial traders (commercials) have held short positions that are so large they cannot serve legitimate hedging purposes because they cannot be backed by real silver.

Now let’s “translate” what the CFTC said back to the real world. The CFTC states:

it is generally acknowledged that the production deficit has been filled primarily filled by a drawdown of stocks.

Generally acknowledged…”? “Primarily filled…”? The only possible way to meet this supply deficit is for every ounce of this deficit to be taken directly out of current inventories. Yet here we have the CFTC treating the most elementary piece of arithmetic like some unproven theory.

Some argue that this decline in silver stocks cannot persist…

Inventories are finite. Inventories are declining every year. When inventories hit zero, the market goes ‘kaboom!’ “Some argue…this cannot persist”? Yes, and “some would argue” that if I drive my car long enough/far enough that it will run out of gas. Again we see the CFTC apparently completely oblivious to basic arithmetic functions – let alone demonstrating not a glimmer of comprehension with respect to the principles of supply and demand.

There is further conjecture that, over the past 20 years, a group of commercial traders (commercials) have held short positions that are so large that they cannot serve legitimate hedging purposes because they cannot be backed by real silver.

Let us first take a minute to place these “large” short positions into context. How large are they? The largest single position, belonging to JP Morgan, is always larger (in proportional terms) than the long position of the Hunt Brothers back in 1980 – and often close to double that size. Meanwhile, a small group of these “commercials” hold a massive, continuous short position more than four times as large as the Hunt Brothers.

Most silver investors are familiar with the Hunt Brothers. They were the silver “longs” who back in 1980 were formally accused and prosecuted for manipulating the silver market due to the level of concentration of their holdings. Here we see what can only be charitably referred to as a “double standard”. Long investors are closely watched, with market rules rigidly and vigilantly enforced against them.

Meanwhile institutional short investors (i.e. the banking cabal) can do whatever they want. Not only are they apparently immune from any scrutiny with respect to the size (i.e. concentration) of their holdings, but the CFTC cannot even be bothered to determine whether those holdings are legal and/or legitimate.

Why has there merely been “conjecture…over the past 20 years” that these short positions “cannot serve legitimate hedging purposes” and “cannot be backed by real silver”? Because the same findings of fact that were made versus the Hunt Brothers in a matter of weeks it has (apparently) been unable to make with respect to the commercial shorts over a period of (greater than) 20 years.

Incompetence? Bias? Deliberate attempt to deceive?

Now we get to the real comedy: the CFTC’s response to its own (severely flawed) framing of the issues.

While there has been a production deficit, there has been no supply deficit.

Let me again translate this statement back to the real world so that readers can comprehend the extraordinary implications of this statement. First of all, as I explained clearly in Part I, a “production deficit” is a “supply deficit”.

Here is what the CFTC is really saying. Because the annual supply deficit had been able to be filled (up until its 2004 letter) out of ever-declining inventories that there is no need for them even to pay attention to the supply/demand fundamentals in the silver market. This is despite the fact that no reliable data exists today on the current size of either global inventories or global stockpiles. The implication here is that the CFTC sees no need to actively “regulate” the silver market until silver inventories hit zero – and the entire market implodes. At best this can be described as “willful blindness”, and calls into question the presumption that this official regulator of the silver market has been acting in good faith.

Indeed, subsequent to this letter the CFTC did announce it had commenced a “formal investigation” into the conduct of the silver shorts. That “investigation” is now in its fifth year – the same investigation which only took weeks to conclude when it involved long investors (i.e. the Hunt Brothers). Again, this extraordinary dichotomy between how “longs” are dealt with versus how the “shorts” are dealt with calls into question the presumption of good faith.

Shortly afterward we get yet another example of the shoddy, cavalier attitude which the CFTC takes toward the commercial shorts:

our review indicates that the so-called “naked” shorts are not naked at all, but are for the most part hedging.

Again we see nothing but obfuscation. The shorts are “…for the most part hedging.” Having a legal education, I recognize weasel-words when I see them. Mostly? Would that be “mostly” as in 99% or “mostly” as in 51%? It gets more laughable still.

The CFTC then goes on to define what it means by “hedging”, and we see it torture the definition of that word until it represents almost anything – including traders with purely paper positions “hedging” those positions with more paper. How can these purely paper traders not be considered “naked shorts”? What is apparently implied is that traders can “back” metals contracts in our futures market with paper. In other words the CFTC’s definition of “naked” is even more dubious than its (expansive) definition of “hedging”.

Keep in mind that this entire “review” by the CFTC took place prior to it commencing its current, official investigation of the same market parameters. In 2004, we have the CFTC asserting that its (unofficial) examination of this market showed no indications of improper conduct.

Despite the CFTC claiming it was in possession of enough evidence to state definitive conclusions in 2004 on all of the same issues it is “investigating” today, and despite there being no material changes to the dynamics in the silver market in the years since then, in 2012 we have the CFTC telling us that even armed with all of its previous data and conclusions that it cannot manage to merely update those findings – despite more than four years of investigation.

It takes weeks to investigate longs, while we are supposed to believe that despite having done all of the ‘leg-work’ once already, the CFTC cannot “investigate” the shorts in more than four years.

Incompetence? Bias? Deception?

Note that the CFTC boasts of a stable of “24 trained economists” it has on staff who (it claims) “look for any sign of large traders trying to muscle the market”. Here we descend from the dubious to the absurd. Putting aside whether the positions of these commercial shorts are naked or backed, what is unequivocal is that they are “muscling” the market.

For more than 20 years this continuous, massive, and growing short concentration has been maintained by this cabal of shorts. The only way this obvious pattern could be any less equivocal would be for this cabal to increase its concentration from the already-insane 70%-80% level it has been allowed to hold for decades all the way up to 100%.

Just as the CFTC sees no particular need to “regulate” the silver market as a whole unless/until silver inventories reach zero, apparently the CFTC’s cadre of economists are unable to see any signs of “muscling” in this market unless/until the manipulation of those shorts is absolute (i.e. 100% of the market).

Then the CFTC pretends to address the issue of silver inventories. As a reminder, the CFTC published this letter near the end of a 90% collapse in silver inventories over a mere 15-year period (as shown in the chart in Part I). Yet here is the CFTC’s response to the question of whether silver inventories were “unusually low”: it refused to address the question. Instead, the CFTC invented a different question, and chose to answer that:

Have silver stocks fallen to unusually low levels compared to other commodity markets?

This is an entirely irrelevant question, as the CFTC is engaging in nothing more than the proverbial comparison of “apples to oranges”. Silver is both a monetary metal and an ornamental metal – in addition to its industrial usages. This means that our species had been accumulating silver for well over 4,000 years, until the banking cabal’s relentless shorting began (literally) consuming global silver inventories and stockpiles. Yet here we have the CFTC’s “economists” comparing inventory levels of silver with purely industrial commodities which are consumed as fast as they are produced. Then it concludes that because humanity’s 4000+ years’ accumulation of silver has not yet diminished to the same level as all of the use-as-you-go commodities that this means there is nothing “unusual” about silver inventories.

Incompetence? Bias? Deception?

Surprisingly, the CFTC still manages to display an even greater degree of ineptitude with respect to even the simplest of market concepts. As I laid out in Part I, the multi-decade pattern of extremely low prices (in historical terms) combined with plummeting inventories is unequivocal. It is impossible to devise even an hypothetical scenario where such a pattern could persist decade after decade in “free and open markets”.

Yet we see the CFTC again attempting to pass off an utterly ludicrous assertion that despite the near-complete destruction of 4,000+ year’s accumulation of silver that prices have not been “artificially low”.  Even more absurd than that assertion is how the CFTC pretends to “prove” it.

It compares silver prices between the different market/exchanges selling silver, and then concludes that because those prices (roughly) coincide with each other that this “proves” silver prices are legitimate. In other words, the U.S. Commodity Futures Trading Commission expects us to believe that it has never heard of the word (or the concept) known as “arbitrage”.

Having thoroughly distorted/perverted every facet of the silver market with its pseudo-analysis, the CFTC then goes on to claim to address the issue of a “manipulation” directly. It is not even worth commenting on. Simply, whenever the CFTC chooses to use the phrase “sees no evidence of” (or something synonymous) it has demonstrated in unequivocal terms that it possesses no credibility.

It is (apparently) incapable of performing simple arithmetic.

It (apparently) has not the slightest understanding of the basic principles of supply and demand.

It (apparently) is oblivious of even such an elementary concept in markets as arbitrage.

Incompetence? Bias? Deliberate deception?

In the conclusion, we will look at what the “experts” are saying about the silver market – based upon the findings and numbers of entities such as the CFTC and GFMS.

Trackback(0)
Comments (9)Add Comment
paxjds
...
written by paxjds, January 25, 2012
tony_bbc
You are correct about Corruption/Fraud/Incompetance concerning these agencies. There are many more including the attorney general of the USA. This corruption goes all the way to the top. How does one undue a fascist system like we live under? The Allied army did it in WWII. Stalin's regime fell apart on its own when the Berlin wall came down! Perhaps a total fiscal collapse of the fiat money system will bring down the Banksters in this current 'Narcisstic World Order'.
tony_bbc
...
written by tony_bbc, January 25, 2012
Oh, and let's not forget how these guys give free passes (exemptions) to the likes of JP Morgan for all it's rules!

... and these are the same guys who have yet to define what the word "swap" means!

I've given up all hope on the CFTC not being a biased. I believe they exist only to try to maintain the status quo. If a price rises too rapidly - then they ACT. If the price drops, then they don't care!

Oh, and when an MF Global event occurs, then they announce a new "rule" which state that you can't co-mingle money. There doesn't need to be "rule" about this. It's called theft, and fraud - and should be prosecuted as such. Where's the indictments for MF Global fiasco?!?

Where's the CFTC when the CME refuses to act as a clearinghouse backstop!?! That's known as failure to perform your fiduciary duty!

My take on it is that the CFTC has shown itself to be totally useless and possibly corrupt! But the good news is that when the CFTC fails to act in the MF Global case, combined with them letting the CME get away without acting as a backstop - has/is/will result in those who desire silver to GET OUT OF THE COMEX and LBMA and work directly with the miners - and the resulting price divergence (between physical - and fraudulent paper) markets. Rumor has it that entire departments of financial institutions have now been given directives that they cannot trade metals on the COMEX as the CME does not act a clearinghouse and backstop the transactions. If you want metal, you have to make a contract with a supplier and take delivery!

Corrupton/Fraud/Incompetance has its price! - And that price is irrelevance!

(BTW, Jeff, thanks for this article and this web site!)
Jeff Nielson
...
written by Jeff Nielson, January 25, 2012
As for silver, even the USGS reports indicate that economically mineable (at today's prices) silver will disappear from the planet in a mere 20 years. Imagine the price of silver in year 10, year 15, etc.


Apberusdisvet, this is ANOTHER part of the silver story which investors cannot afford to lose track of - especially given the risks of silver confiscation.

The silver MINERS represent wonderful long-term investment prospects (and look pretty good short-term too, at the moment), because the banksters' rape-and-pillage mentality toward silver means the profitability of being one of the few companies able to pull it out of the ground is enormous.
Jeff Nielson
...
written by Jeff Nielson, January 25, 2012
Around 1998 the CFTC President, Ms.Brooksey Born was litteraly Tared and Feathered by the likes of Alan Greenspan, Robert Rubin, Larry Summers, the Head of the SEC, along with congressional Democratic and Republican leaders in hearings. Her crime was nothing more than wanting to bring regulation to the new Derivitive Market that was under CFTC juristricion, as she and the CFTC legal department saw great problems ahead for the country. I think at the time the derivitive market was under 50 trillion.
Having in essence forced her to resign, IMHO we historically crossed the line seperating a law abiding and regulated capitalistic system, and then crossed over into what Gerald Celente calls a Facsism ( a merging of government and corporations). Banks and Wall Street had completed the
coup d'etat.


Paxjds, very good point about that BRIEF moment in time when the CFTC did have an "honest broker" at the helm...and what happened to her.
Jeff Nielson
...
written by Jeff Nielson, January 25, 2012
Personally, I think that in some short time we'll see the CFTC be very quick to act.
When inventories reach zero, and we see the price of silver taking off, we'll see the CFTC act with lightning swiftness. They'll most likely attribute the label "manipulator" to those who have been buying silver (or advocating the purchase of silver), and will turn a blind eye to those who have been shorting for years (or longer)!

Have we seen the CFTC act/react to Andrew McGuire?

Have we seen the CFTC act/react when one of it's judges wrote a letter about the other judge stating that he would NEVER rule in favor of a plaintiff?


Lots of good comments here already!

Tony_BBC, yes I fully agree that the "plan" is to blame the "speculators" (i.e. longs) and that the SOLUTION will be "confiscation". This is why I would NEVER touch any U.S.-based bullion fund or account - and Canada might not be much better if Stephen Harper is allowed to remain in power.
paxjds
...
written by paxjds, January 25, 2012
tony_bbc, to your last question; the judge is as crooked as crooked can be!
apberusdisvet
...
written by apberusdisvet, January 25, 2012
Jeff: I had to chuckle when you pointed out that the Hunt Bros manipulation was exposed in 6 wks but it has taken years to NOT reply to the 1000s of complaints, numerous lawsuits, whistle blowers etc. Such is the power of the corrupt, at all levels. But it is really no different than the oft-said point that "we could win WWII in 3 and 1/2 years, but we can't (fill in the blank, whether achieve energy independence, win the War on Poverty, etc) in over 40 years". Nothing ever positive or constructive will occur unless it will serve the agenda of TPTB. Ergo, the agenda of TPTB is primarily destructive. The CFTC is only one of many bought and paid for alphabet agencies whose members pass through the lobbying/banker/regulator revolving door every year. As for silver, even the USGS reports indicate that economically mineable (at today's prices) silver will disappear from the planet in a mere 20 years. Imagine the price of silver in year 10, year 15, etc.
paxjds
...
written by paxjds, January 25, 2012
Jeff, great article. In answer to your questions, the people at the CFTC are not incompetant. But I think they are Biased and practice Deliberate Deception.
Around 1998 the CFTC President, Ms.Brooksey Born was litteraly Tared and Feathered by the likes of Alan Greenspan, Robert Rubin, Larry Summers, the Head of the SEC, along with congressional Democratic and Republican leaders in hearings. Her crime was nothing more than wanting to bring regulation to the new Derivitive Market that was under CFTC juristricion, as she and the CFTC legal department saw great problems ahead for the country. I think at the time the derivitive market was under 50 trillion.
Having in essence forced her to resign, IMHO we historically crossed the line seperating a law abiding and regulated capitalistic system, and then crossed over into what Gerald Celente calls a Facsism ( a merging of government and corporations). Banks and Wall Street had completed the
coup d'etat.
Derivitive markets are now something like 700 Trillion dollars, a real Ponzi Casino that now threatens to bring down the entire world Fiat financial system. We can thank the Federal Reserve, other Central Banks, and the BIS-Bank of International Settlemens for their cooperation in creating the new Fascism that previously only the likes of Hitler, Mussilini, and Stalin have reached for such naked and Raw Abuse of Power.
Now the CFTC plays the role of the Village Idiot when it comes to supervising the gold and silver markets. That really answers Jeff Nielson's
three questions: Incompetance? Bias? Deliberate Deception?
In conclusion, they culprits IMHO are all the above mentioned Individuals, Parties, Corporations, and Governmental Agencies. Suppressing Gold and Silver is nothing more than an attempt by them to Stay in Power and try to look good.
tony_bbc
...
written by tony_bbc, January 25, 2012
Personally, I think that in some short time we'll see the CFTC be very quick to act.
When inventories reach zero, and we see the price of silver taking off, we'll see the CFTC act with lightning swiftness. They'll most likely attribute the label "manipulator" to those who have been buying silver (or advocating the purchase of silver), and will turn a blind eye to those who have been shorting for years (or longer)!

Have we seen the CFTC act/react to Andrew McGuire?

Have we seen the CFTC act/react when one of it's judges wrote a letter about the other judge stating that he would NEVER rule in favor of a plaintiff?

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

busy

Latest Commentary

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

Latest Comments

Disclaimer:

BullionBullsCanada.com 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