Toro
Diamond Member
By artificially multiplying the volume of silver via silver leasing?
Pretty much.
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By artificially multiplying the volume of silver via silver leasing?
Well, that's a new one.
I always heard that JP Morgan was purposefully suppressing the price of silver and gold at the behest of the government.
I guess there can never be enough conspiracy theories.
CONSPIRACY THEORIES!
They have massive short positions! The only plausible profit motive explanation for that is to cause a bubble and then dash it. First you facilitate long positions by offering a counter party to their bets then you go whole hog and drive the price down realizing an actual return on your short position.
When you can get all the money you want at .25% interest these things are possible.
They've had a massive short position forever. They are a dealer, playing the spread between financing and storage costs. They lend their inventory out and hedge themselves in the futures market.
The long-standing conspiracy theory is that JP Morgan is acting as an agent of the government to suppress the price of gold and silver to cover the government's reckless creation of fiat money, and that the gold and silver supposedly held in vaults isn't there because it has all been lent out several times over. I have no opinion on whether or not that is true - probably not - but this has been the charge since when silver was $6, not $26.