Buy Silver to Crash JP Morgan

[Toro]

By artificially multiplying the volume of silver via silver leasing?

Pretty much.

 

[loosecannon]

OK, I don't understand the mechanism JPM is using but it still sounds as if they are gaming a mechanism to suppress the price of silver while being the second party to long positions.

And all of this is in addition to the clout futures have in driving commodity prices.

Sounds like in your face market manipulation to me, and it effects your silver.

 

[Toro]

I don't know if they are or not. Some accuse them of doing so but I have only seen circumstantial evidence.

 

[finebead]

I was a kid in the 60's when coins used to all be solid silver. Then the value of the base metal began to exceed the face value of the coins and with the population expanding, the govt. switched to bi-metal coins to make them cheaper to make and prevent them from being melted for the silver. My mother told me to save all the solid silver ones and they would probably be worth a lot more some day. I saved 3 rolls of quarters and 2 of dimes ($40) plus a few loose ones. Sold them all yesterday for $730. Houses and cars are up around 4X or 5X since them, silver coins were up about 18X. Cool little deal, but obviously won't change my lifestyle. Now I won't have to drag this stuff around though (after many moves!). I know many suspect inflation is coming, but to me, it appears much "anticipated inflation" has already been priced in to gold and silver, so I have sold out.

I'm buying big blue chip dividend paying stocks, including electric utilities. Gotta watch the utilities is interest rates start rising the stock price drops. Also shopping for Dupont, Chevron, Johnson and Johnson, Intel.

 

[jodylee]

Silver Shortages Accelerate As Wholesale Supplies Plunge:
Krieger/Keiser - 1; JP Morgan - 0

Is the Kriger/Keiser "Short Squeeze JPM to Oblivion" plan working? Judging by the wholesale availability of silver (or lack thereof) the answer is a resound yes. In Coin Updates News we read that "as of today, there are no longer any regular wholesale supplies of the 1 ounce through 100 ounce silver rounds and bars available for immediate delivery. It may be possible to locate incidental quantities of some product, but most wholesalers are now promising two to four weeks delivery to allow time for the silver to be fabricated." Over the weekend we noted that even at the smaller, retail level, Silver American Eagles sold by the US Mint, have surged to a 2010 high in just the first three weeks of November. Is America now fully intent on ending Jamie Dimon's domination over the precious metal space?

More on the wholesale silver shortage:
Silver Shortages Accelerate As Wholesale Supplies Plunge: Krieger/Keiser - 1; JP Morgan - 0 | zero hedge

 

[editec]

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.

I have always wondered about that specific question.

Seems to me that it might be rather simple for a large corrupt futures trader to sell futures contracts on commodities that they do not really control.

Lloyd Carr did that back in the 70s and at that time his swindle was the largest financial swindle of all time.

Frank J. Kelly, Attorney General of Michigan and the Commodity Futures Trading Commission, Plaintiffs-Appellees, v. James A. Carr and Charles P. Le-Mieux, Iii, D/B/a Lloyd Carr and Company, a Partnership; James A. Carr and Charles E. Le-Mieux, Iii, D

Now apparently, we call this swindle methodlogy NAKED DERIVATIVEs and think it's all good?!

 

[loosecannon]

"Seems to me that it might be rather simple for a large corrupt futures trader to sell futures contracts on commodities that they do not really control."

It's routine to do so. During the peak of the oil bubble reports claimed that there were 30-50 times as many futures contracts pending as there was oil. Derivatives are often synthetics based on performance of real things. Futures are derivatives.

 

[william the wie]

If this is the breaking of the bullion banks that is huge.

 

[jodylee]

JPMorgan Caves And Unwinds Massive, Controversial Silver Position

Read more:

JPMorgan Caves And Unwinds Massive, Controversial Silver Position