Loading ...Crimex shorting can’t be stopped, especially with Swamp, running the Rig, they don’t answer to anyone…what will wreck them though is if enough people demand physical delivery, which they can’t satisfy, then prices will explode in all the other vehicles, like ETF’s and shares.
I know for a fact that if Bunker Hunt had traded physical/demanded Crimex deliver, then he would have won, but unfortunately he was very mean, so loved the idea of only putting up 5 % of the price, so when they put his margins upto 100 % he couldn’t get the money fast enough, plus he hadn’t warned the members of his group that they might have to stump up 100 %. So Crimex could force him out……a lot of his people were in the ME and it took ages to get them to agree and ages to move the money, meanwhile Crimex could legally close him out, as he hadn’t met the call.
Moccatta was selling all the way up and if silver had gone a few more dollars they were bust and would have had to cover a huge short, in both Gold and Silver….. when silver was already over $ 50 an ounce and nobody had any…..imagine what it would have hit…..the mkt by then was trading off a $ 5 spread..$ 50/55..!!!!!!
There was a total panic…..