This is the testimony of Martin Armstrong a well-reknowned hedge fund manager:
"At the start of the silver manipulation I was flat. I had taken all profits and closed out all short positions. Silver was trading around $4.29 when PhiBro walked across the ring and handed to my broker an order to buy 1,000 lots of silver every penny down for as far as you could see. They intentionally showed me the Buffet order. Later Bob Gotlieb from Republic Bank call me and tried to get me to join the manipulation. He said, "Something big is coming down in silver," and when I asked who was behind it, he said, "Your friends in Connecticut." After being approached several times to join the manipulation, I reported to my clients that "they" were back. I would not have used the term "they" if it had been someone other than the same crew as in 1995. I was told that the silver price target was $7. I reported that information on our website. I was NOT short. I knew what they were capable of doing. Then I left the country for my usual fall tour. I was invited by the government of China to discuss the Asian crisis. I visited the government there in December 1997. Upon my return silver was at $6.40 and everyone indeed had been led to believe that it was me because the orders were routed through Republic to give the market the impression that I was the one buying the silver. In fact, it was Republic buying the silver itself and moving it to London. "
"There are also misconceptions about the current class-action lawsuit in silver and copper. Some try to portray this suit in silver as only one player. In fact, a class-action lawsuit is significantly different from merely a garden-variety lawsuit. Class-actions are open to EVERYONE and ANYONE who has lost money trading silver. This will include industrial users or the jewelry-trade who were harmed by the 70% lease rates. Such class-actions are NOT funded by one small investor, but are funded by the law firms who are defending the public on a performance basis. While one particular individual may appear as the defendant, it becomes irrelavent as to who that individual is. Such suits allow the small individual to go against a major group or institution on an equal footing.
Unfortunately, we must deal with reality - not bias, passion or prejudice. There is NO question in our mind that silver has been the target of a concerted effort to force its price higher through an all out attack on this market including - forwards, borrowing, options, futures and bogus analytical hype by not so independent analysts. In fact the evidence taken as a whole, suggests that this current rally in silver is merely phase II of a previous attempt to force silver higher, which most likely began back in 1995. And of course there is Warren Buffett who is now being portrayed as Saint Buffett among silver's passionate followers. Somehow, Mr. Buffett who purchased 129,710,000 ounces of silver is being portrayed as the avenger against those most disgusting of all people - the dreaded shorts and industrial users. Nonetheless, there are serious questions as to why Mr. Buffett's order was executed in London at a premium price when the silver was available at a discount in New York all the time. Some have tried to argue that London silver is a better grade of silver than that in New York. Perhaps this myth was propagated by the September COMEX meeting when it was discovered that some silver stored at the COMEX bore hallmarks that had been delisted by London. The "quality" of silver was none the less the same - .999. However, because the hallmarks were of 1974 vintage by firms that no longer existed, prompted the need to have a portion of the COMEX stockpile reassayed making the move of silver from NY to London even more expensive.
Still, in the midst of this passion and confusion, many are afraid to look beyond the hype for the truth may indeed uncover something far less than a natural bull market at work. A closer inspection of the issues behind silver, will reveal that there are indeed players who are up to something very serious and strange to say the least. In fact, the passionate silver supporters are so desperate for a bull market they are willing to look the other way regardless of the facts as long as their precious commodity rises in value.
There is no doubt that silver has been manipulated on numerous occasions both in recent times as well as in the past. Silver has in fact filled the history books with legend, riots, manipulations and financial panics, one of which nearly bankrupted the United States in the process during the late 19th century. Silver was also responsible for bankrupting the Hunt Brothers in 1980 and of course there was the ultimate victim, Ogden Armour, who lost the equivalent of nearly $1 billion per day for 120 days straight following the Great Commodity Crash of 1920. In fact, to date, no one has EVER financially survived an attempt to corner the silver market. As far as gold is concerned, no one has enough money to even attempt such a scheme during this century - at least so far. The last such attempt to corner the gold market took place back in 1869 when Jim Fisk and Jay Gould sent gold soaring to $162 on the New York Stock Exchange creating a wide-scale panic on Wall Street that had to be suppressed by sending in government troops. That Panic of 1869 was the first "Black Friday" in history - the term "Black" referring to the deaths that occurred at the hands of the mob. "
Here's an interesting take on Warren Buffet's recent performance.
Warren buffet's secret strategy:
If you invest in stocks, consider the stock market is closed for next 10 years.
I would like to know the dates for Warren Buffett buying into silver. He must have had a good reasoning to buy in London otherwise never would have happened. Hey, if you see an opportunity grab it!
There are a lot of things you have to take care of if you want to grow your money ... Like
1. Portfolio Diversification (to make sure that your risk is low and returns are stable)
2. Make sure that you invest in some thing which is on good fundamentals and not on rumours.
3. You must have the ability to pick undervalued shares so that you make money on them when market realises that undervaluation and prices move up .
4. Make sure you are upto date with the investing world new products and information.
The main idea is to minimize the risk and do quality investing for long term.
According to my knowledge Warren Buffet is still the richest man. If he is not the first who has taken his spot?
1 Mukesh and Anil Ambani India Petrochemicals £43bn
2 The Walton family America Retailing (Wal-Mart) £38.4bn
3 Warren Buffett America Investments £31bn
But over the last 4 months Warren Buffets shares in Berkshire Hathaway climbed 25%, He's now estimated at $62Bil and you have to remember that in 2006 he promised to give all his money to charity (bill gates foundation) upon his death!
But Mukesh and Anil has been separated as well as there property. now they both run there industry separated. so there is no question of them to be number one of the richest list of the world.
So i must say you have got all the things wrong. And the PDF you have given is the family wealth not of the individual.
Warren Buffet has taken over as the richest man in the world replacing Gates after the recent financial crisis. I like his advice to the youngsters- stay away from credit and invest in yourself.
He is one guy whom the present generation can look up to in matters of both style and principles.
Buffet is taken as richest person in the world after Microsoft owner Bill gates. I have read about buffet he is a very nice investor and business man. I have read most of his articles and seen his tacticks of business. He has a very nice predictions on the share markets and world indeces too.
by Ralph Deeds7 years ago
Let me remind you why I’m writing. Just over two years ago, in September 2008, our country faced an economic meltdown. Fannie Mae and Freddie Mac, the pillars that supported our mortgage system, had been forced into...
by Jack Lee19 months ago
Why is Warren Buffett supporting Hillary Clinton for President?He is known as the smartest investor who has made his fortune under our capitalist economic system. Yet, he is supporting a socialist progressive Democratic...
by Hugh Williamson6 years ago
"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice." -Warren Buffetthttp://news.yahoo.com/stop-coddling-sup...
by SparklingJewel6 years ago
Warren Buffett, "I could end the deficit in 5 minutes," he told CNBC."You just pass a law that says that anytime there is a deficit of more than 3% of GDP, allsitting members of Congress are ineligible...
by GA Anderson5 years ago
Found this on my Facebook wall - So I don't take credit for putting it out there.But... as a basic concept - sounds like a good starting point to meHere is what he supposedly said..."Warren Buffett, in a recent...
by Milo Andre Swearengin3 years ago
Who's the world's richest man?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.