..."The seriousness of this issue is rooted in the scale of the numbers. If Bank of America is short 800 million oz of silver, as the data in the OCC report strongly suggests, then that means every dollar higher in the price of silver translated into an $800 million open (unrealized) loss. Every $10 move equates to an $8 billion loss. A hundred dollar move higher from here equates to an $80 billion loss. Can BofA fund such losses or will taxpayers be called upon to bail the bank out? Even the slightest hint of such a development should be enough to require immediate clarification from the regulators and BofA and there’s a lot more than the slightest hint in the OCC report."...

Click for popup. Clear your browser cache if image is not showing.

..“It is foolhardy to make a second trade, if your first trade shows you a loss.  Never average losses.  Let this thought be written indelibly upon your mind.”..

Jesse Livermore


.."Just because you’re taught that something’s right and everyone believes it’s right, it don’t make it right."..


Mark Twain

.."Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway"..

Warren Buffett


.."A socialist is someone who has read Lenin and Marx. An anti-socialist is someone who undertstand Lenin and Marx"..


Ronald Reagan

..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell"..

John Templeton