In 2012, JPMorgan cleared out and transferred 100 million oz it held on behalf of holders in SLV out of its own London warehouse to make room for silver to be held in its own name. Ill get into what JPMorgan must do to insure the highest possible price for silver in a moment, but first let me establish that the bank has acquired 500 million ounces of metal. Unlike the gold market where there are massive gold hoards at central banks and in private vaults, there are no major government silver stock piles and silver demand is met primarily by current mining production. There are TWO Red Pills: Take Both Marc Battaglia, Marc explains the second red pill further, (affiliate links Smaulgld receives commission for sales), The Dark Side Of Central Bank Intervention, The Dark Side of Artificially Low Interest Rates. The concentrated short position in COMEX silver futures and the price manipulation are one and the same. However, if I am right that the bank expects the increased withdrawals of silver, it means good times for this metal. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. After all, thats exactly what JPMorgan has done and after five years, it wouldnt appear the wait will be very much longer. For example, in 2016, JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. That has amounted to about 6,500 articles, in total, over that 12-year period. From zero ounces five years ago, the JPMorgan COMEX silver warehouse has grown to the largest COMEX warehouse, holding nearly half (70 million oz) of the total COMEX inventories. May the Road you choose be the Right Road. munKNEE.com has joinedeResearch.comto provide you with individual company research articles and specific stock recommendations in addition to munKNEEs more general informative articles on the economy, the markets, and gold, silver and cannabis investing. Should JPMorgan not add to its COMEX short position on the coming silver price rally, then it will be only a matter of time before the remaining big COMEX shorts wake up to the fact that they are toast. Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985. By simple logic, JPMorgan will make the largest possible profit on its silver holdings only if the price of silver climbs to the highest levels possible. While it would appear that JPMorgan came to acquire Bear Stearns by government request, data from a different government agency, the CFTC, clearly indicate that JPMorgan came to dominate and manipulate silver pricing by means of maintaining and adjusting the largest concentrated short position in COMEX silver futures. I know that the price of silver has been declining on a daily basis nonstop for some time now, itself an unprecedented move, but I also know the reason for the decline and how the sharply improved COMEX market structure has always guaranteed a rally in a reasonable period of time. Mr. OByrne cites respected veteran silver analyst Ted Butlers contention that JP Morgans silver hoard is much larger, perhaps 350 million ounces and that JP Morgan is in a position to corner the silver market. Because the entire time JPM was buying silver, it was still managing the price lower on the COMEX by maintaining and managing its manipulative paper short position. JPMorgan hoarding large amounts of silver bullion? I hope this request for money hasnt offended you and, should you choose not to donate, that you will still continue to Follow the munKNEE! But I believe that plan was stopped as soon as it was noticed by the Good Guys that the Citibank silver derivative book had ballooned. In the JPMorgan It will be a price move like no other. The best part about this amazing story is that it offers the investment opportunity of a lifetime. That's why the CFTC has not filed charges against them (yet) for silver manipulation. Enter your email address to subscribe Smaulgld.com to receive free updates. Here's the latest report showing JP Morgan holding 6,042,752 shares (ounces) increasing their holdings in SLV by 4,819,640 shares or 500%. However, this week SLV added vast amounts of silver. Market analysts have repeatedly called out JP Morgan for alleged fraud and market manipulation. UPDATE: JP Morgan and Silver- August 27, 2016. JP Morgan, the largest U.S. commercial and investment bank, is increasing its stockpiles of silver, betting that prices will move higher as inflation begins to take hold. This is truly the perfect crime buying a corner on the physical silver market cheaply, by maintaining a short corner on the paper COMEX market. Every week I surf the net on your behalf looking for the 10 most informative articles written by the best commentators/analysts out there which I then edit and abridge before posting to provide you with a faster, and easier read. The largest short position ever holds the potential for the greatest short covering rally ever. Everybody knows that JPMorgan (JPM) is an active player on the gold and silver markets. And I cant imagine who would be more capable of pulling this off over than JPMorgan, the best-connected and most powerful US bank. If that is the point, it means that JPMorgan does nothing special - the bank is simply protecting itself against the increased withdrawals of silver bullion. Clearly, JP Morgan has the financial wherewithall to corner the silver market. Subscribe to Smaulgld.com to have top Smaulgld.com content emailed to you as soon as it is published. But because the continued manipulation resulted in silver being priced too low for too long, by late 2010, signs of a physical shortage began to appear, in accordance with the immutable law of supply and demand, and silver prices surged to nearly $50 by April 2011, from as low as under $9 in late 2008. One doesnt just blink ones eyes and place a market order to buy half a billion ounces of silver and call it a day takes time, patience and cunning. Most people think of banks as being involved in mortgages and checking accounts and are surprised at first at the thought that JPMorgan even deals in commodities, like silver. American Silver Eagles can not be traded on COMEX. After studying the silver market closely for more than three decades, I find it nearly unbelievable that its single most important price factor is widely unknown. I do not know what part of these 80 thousand contracts is attributable to the bank but it may be easily calculated that the average large trader standing on the short side of the trade holds 20 thousand contracts (80 thousand divided by four). SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site. //www.roadtoroota.com/members/1019.cfm. He served on the board of the Securities Investor Protection Corporation and as a member of the Airline Transportation Stabilization Board and also as the Treasury representative to the Pension Benefit Guaranty Corporation. As widely telegraphed over the past week, the US Justice Department and Commodity Futures Trading Commission (along with the SEC) have settled the precious metals spoofing/manipulation case which first came into view in November 2018 with The bank has never been better positioned for a silver price explosion. How To Buy Austrian Gold Philharmonic Coins, How To Buy Canadian Gold Maple Leaf Coins. From examining the chart above, its easy to discern the huge increase in JP Morgans 55 million ounce silver stock pile. All told, JPMorgan has acquired over 100 million Silver Eagles and 50 million Silver Maple Leafs during this time, and maybe a lot more. DISCLOSURE: Smaulgld provides the content on this site free of charge. JP Morgan has added about 50 million ounces of silver to its COMEX approved depository stock pile since 2011. Few knew at the time that Bear Stearns was the largest short seller in COMEX gold and silver and its takeover by JPMorgan resulted in JPM being thrust into the role of it being the biggest short seller. registration number) and the article in question will be immediately deleted from the site. This stockpile began in 2011 when JP Morgan opened their own silver warehouse, starting with no silver. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. As of April 18, the total open interest in silver futures was standing at 228 thousand contracts, which was attributable to 1.14 billion ounces of silver. Summarizing, I do not know the exact reasons standing behind JPMorgan actively hoarding silver bullion (these guys at JPMorgan are much smarter than me). JP Morgan Silver COMEX Pile Keeps Going, & Going, & Going - Of course in COMEX silver and private silver hoarding terms, this amount of "Who has the Most Silver?" Today, it also owns 50% of the worlds COMEX silver bullion. Of course, this market is a few times larger than the amount of silver held by SLV (0.33 billion ounces) or other holders but that is just a typical feature of all paper markets. Jpmorgan Chase & Company is based out of New York. In fact, some are saying it would be so disastrous it could maybe take down the entire financial system: Lmaooo silver is also heavily manipulated and shorted. Shortly afterwards, JP Morgan became the sole SLV custodian for the EFT, making them responsible for overseeing all of the physical silver held in SLV. By coincidence, now JPMorgan holds 105.6 million ounces at the COMEX (refer to the section "The silver bullion market is sending bullish signals"). Now, during bear markets or corrections in precious metals prices the investors are cutting their silver holdings. All price manipulations must come to an end. As a result of being able to sell short virtually unlimited quantities of COMEX silver futures contracts as prices rose and then buying back those contracts as it then caused prices to fall, JPMorgan made many hundreds of millions of dollars in the years immediately following its takeover of Bear Stearns in early 2008. Every week I surf the net on your behalf looking for the 10 most informative articles written by the best commentators/analysts out there which I then edit and abridge before posting to provide you with a faster, and easier read. J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. Gold Cores able precious metals analyst Mark OByrne has taken notice of JP Morgans silver holdings increase and has posed the question: Is JP Morgan cornering the silver bullion market? FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. JP Morgan is the "custodian" for the largest "long" silver fund in the history of the world, making this one of the largest conflicts of interest in all of history. At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. During that period (April 17 - today) the silver / gold ratio have been following silver prices and now the ratio stands at its strong support at around 1.39: In my opinion, the pattern drawn by the market is typical for a bear market or a correction in precious metals prices. Subscribe to Smaulgld.com for free to receive gold and silver updates. All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. Should any post be deemed to be inadvertently in contravention of these Acts' terms please advise with substantiation of such apparent contravention (i.e. SG presents no warranties. Further, the US Government never held silver with the intent of seeking a profit. The prime one is Citibank as I pointed out a while back. The US Government once owned several billion ounces of silver, but today holds no silver, having completely eliminated its holdings. In 2008, JP Morgan took over Bear Stearns a huge trader in silver futures derivatives after its collapse. JP Morgan is the lead rigger of the market, according to some reports, and stands to lose multiple billions if a short squeeze like GameStop happens in the silver market. Please do your own research regarding the suitability of making purchases from the merchants featured on this site. Here's Fewer than 900 million ounces of silver are mined each year. The total value of the record number of American Silver Eagles sold in 2014 was less than the amount of the fine that JP Morgan paid to settle the its London Whale case. As such, all posts on this website have been screened at Library of Congress Catalog as to their eligibility for posting. The gold-silver ratio tightened lower to close at 77 for the week, thanks to silver's recent strength. According to the last COT report, four largest traders standing on the short side of the trade hold a net short position of 80 thousand contracts. Thats not a misprint. Silver contracts on COMEX are traded in 2,500 and 5,000 ounce increments. Now the main question: Why is JPMorgan hoarding large amounts of silver bullion? The highest prior price level of $50 will quickly be exceeded. I think I was wrong. Compounding the small amount of truly available supply from existing holders is the bedrock certainty that most of the silver newly mined and produced is spoken for and consumed by a variety of industrial and other fabrication demands investment demand must compete with those other demands, a circumstance highly unique to silver. Please join Dom who has shown her appreciation of munKNEE.com with a $50 donation. (affiliate link - Smaulgld receives commission for sales), Click Here To Buy Gold And Silver From Money Metals Exchange, Click Here To Buy Silver From Golden Eagle Coins, Click Here To Buy Gold From Golden Eagle Coins. If you like what you see then In 1998, Berskhire Hathaway bought 129.7 million ounces of silver under the direction of Charlie Munger and Warren Buffet. According to the Silver Institute and the CPM Group, silver has been in a supply defict for the past few years. Max Keiser astutely pointed out in 2010 that JP Morgan did not have enough silver in its depository to meet large requests for physical delivery in connection with their COMEX short positions. The articles to be found on the site are expressions of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. Lorimer Wilson JPMorgan Chase & Co. (JPMorgan), a New York, New York-based global banking and financial services firm, has entered into a resolution with the Department of Justice to resolve criminal charges related to two distinct schemes to defraud: the first involving tens of thousands of episodes of unlawful trading in the markets for precious metals futures contracts, and the second I wrote this article myself, and it expresses my own opinions. *It's hard to imagine a BETTER time to buy your Road to Roota coins than NOW! Both are playing the opposite side of the trade to control the price as the cabal trades back and forth to each other. That factor is that the USs biggest and most important bank, JPMorgan Chase, has accumulated the largest privately owned stockpile of physical silver in world history over the past five years 500 million ounces. The only question is whether on the next silver price rally will JPMorgan add aggressively to its COMEX short positions. will be paid a commission. Today, it also owns 50% of the worlds COMEX silver bullion. enter your donation amount, click the box if you wish to make the amount a monthly donation, and then click on your choice of payment method. COPYRIGHT & DISCLAIMER: Lorimer Wilson is not a registered advisor and does not give investment advice per se. Also get the free report Twelve Key Differences Between Gold and Silver when you subscribe. 56,350 Views. As I discussed in my previous articles, the silver futures market is very hot now. Cornering the silver market would not be worth the trouble, especially when there is easy money for JP Morgan and multi billionnaires to make easy money elsewhere. Subscribe to Smaulgld.com and get the free In Case You Missed It weekly email as well as updates and analysis on gold, silver, real estate and the economy. We have often remarked how cheap siver is in nominal dollars per ounce (under $16.50 an ounce at the time of this post) and in relation to the price of gold as measured by the gold silver ratio that is about 72 to 1 today. Gold and Real Estate Are Assets, Not Investments. In contrast, the only reason JPMorgan has acquired half a billion ounces of actual silver is for the express purpose of making as much of a profit as possible. In such a crisis it is very prudent to own physical silver (and, of course, gold). Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Despite the fluctuation of silvers value, it has become an increasingly popular investment. Thursday and Friday saw volume increases in many silver investments, including a big jump in volume on the silver ETF SLV. By soon, I mean that the move can commence at any time, but more likely before many weeks or months have gone by. Truthfully, I don't know but there are suspects that cannot be counted out. Thank you! All one has to do is what JPMorgan has done buy as much silver as one is capable of buying and then wait for JPMorgan to help itself. COMEX is, in a sense, a fractional reserve metals trading system. Most recently JPMorgan has been rapidly accumulating silver bullion. Well, let me digress a little bit on this issue. The spot silver price closed the week decidedly over $23 oz, while the spot gold price closed near $1800 oz. The value of the silver market is small and if you believe the silver manipulation theories, JP Morgan can make more money selling paper silver futures contracts every day on COMEX than acquiring 800 million ounces of silver and then trying to sell it all on the market at a profit. Love podcasts or audiobooks? Legendary silver analyst Ted Butler believes JP Morgan are in a position to corner silver market JP Morgan may be holding as much as 350 million ounces of physical silver JP Morgan realises the value of owning physical silver bullion today Silver at $16 today At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. But deciding to buy as much silver as it could and actually buying the metal are two very different things, even if you happen to be JPMorgan, with virtually unlimited buying power and market capability unmatched. No matter how rich or powerful JPMorgan may be, buying 500 million physical ounces of silver, given the realities of actual available supply, would take years as has turned out to be the case. For example, in 2016 JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. Let me remind these two charts: Source: Simple Digressions and the COT data. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland. 2. We are the #1 name in metals and a leading independent retailer of gold and silver products, including bars, rounds, and coins. I'm not saying that JP Morgan is completely out of their silver short but they may now be very, very close when you put all their various silver holdings together and net them out. JPMorgan manipulating gold and silver prices. Warren Buffett, Charlie Munger, Berkshire Hathaway. JPMorgan actively hoarding silver bullion (these guys at. I have no business relationship with any company whose stock is mentioned in this article. Between 1973 and 1980, the Hunt Brothers acquired 100 million ounces of physical silver bullion holdings. The question is: what is it? I fully admit to considering JPMorgan, at least as far as its dealings in silver are concerned, to being a criminal enterprise; but I also consider them to be the smartest crooks around. Fan of the Austrian School of Economics. Also, visit U.S. Code 17-107 Limitations on Exclusive Rights - Fair Use. Having accumulated the largest hoard of physical silver in history and being in position to reap the biggest profit in history should silver prices soar what can JPMorgan do to bring that about? I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Silver Will Soon Move Suddenly & Shockingly Higher Heres Why (+56K Views), Automatically receive the internets most informative articles bi-weekly via our free bi-weekly Market Intelligence Report newsletter (sample. Additionally, big speculators hold the largest net long position in silver futures in history. Despite the massive volume of silver futures contracts traded on COMEX, only a relatively small amount of physical silver is actually delivered. Silver Since the beginning of 2017 a few large holders of physical silver reported the following changes in their silver holdings: Now, the most interesting figures. In fact, the uniquely large and concentrated nature of the COMEX silver short position (meaning it is held by just a few traders) is the mechanism by which silver has been manipulated in price all these years. The largest traders on COMEX are the bullion banks themselves, some of which also act as approved COMEX depositories. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. JPMorgan does nothing special - the bank is simply protecting itself against the increased withdrawals of silver bullion. According to the latest most transparent data, JP Morgan's cumulative physical silver holding on the COMEX has breached the 160,000,000 troy ounce mark. JPMorgan has amassed a physical stockpile of silver of at least 600 million ounces by my calculations at an average cost of around $20 an ounce, all while continuing to make When silver prices rise sufficiently, the remaining shorts will panic and begin to try to cover their short positions. It's all about extricating JP Morgan from the silver short position they were REQUIRED to take on by the US Treasury after the collapse of Bear Stearns. The information on this site was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy. Only the US Government owned more silver than JPMorgan, but that was nearly a century ago and came when silver was used in common coinage. JP Morgans Accumulation of Silver Is More a Defensive Than Offensive Measure. It is unlikely that JP Morgan would be acquiring small one ounce coins that the U.S. Mint sells at a $2 premium per coin (at $20 per ounce or lower such a premium would be in excess of 10% per ounce). I think I was wrong. How the heck did JPMorgan pull off buying 500 million ounces of silver on falling, not rising prices? Since the beginning of 2017 JPMorgan has added 23.5 million ounces of silver to its vaults at the COMEX. So where to now? It is common knowledge that JPMorgan is an active speculator in silver futures. The best analogy I can come up with is an atomic bomb on top of a hydrogen bomb on top of a neutron bomb. JPMorgan Chase & Co. has begun operating a new silver vault in London following a dramatic increase in demand for the metal from exchange-traded funds. JP Morgan would have to amass far more silver before they could be considered to be within striking range of cornering the silver market. Your Own Due Diligence Is Recommended Before Buying Or Selling Any Investments, Securities, Or Precious Metals. As silver is produced, it is consumed. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. JP Morgans silver success story began during the global recession. Yet does such an large increase in silver holding signal JP Morgans intention to corner the silver market? The most remarkable aspect to JPMorgans massive physical silver accumulation is that it was able to do so on steadily declining prices, because, as you know, silver prices have declined from near the $50-mark over the past five years. At current prices, an entire years global silver supply can be bought for about $13-14 billion. ), like you, who have visited the site over those years. Whether driven by rumor or the Reddit army actually coming in, their plan is severely flawed. The paper silver market (silver futures) is overcrowded now - the total open interest stands at its highest reading in history. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. Smaulgld gold buying guides provide detailed information about a variety of gold products including the mintages, gold content and history of gold coins bars and rounds. JP Morgans increase in its silver stocks doesnt necessarily mean they are trying to corner the silver market. Taking into account that one futures contract for silver controls 5 thousand ounces of silver, it means that these traders "owed" 400 million ounces of silver to the players standing on the long side of the trade. Click to Buy Smaulgld Super Classic Mug with Free Shipping in the Continental United States. Well, I do not want to discuss these theories. What is more, the bank behaves like a typical speculator cornering the market (despite the falling silver prices, it is rapidly hoarding silver): Note that the largest additions were made in April (this month silver prices are down around 3.9%). For starters, 50 million ounces is ten times less than the amount of silver that is locked in silver ETFs (JP Morgan is the custodian for SLV, the largest silver ETF) and less than 7% of the annual global silver mining production. 2006-2021 roadtoroota.com. Warren Buffet, an outspoken gold critic also once owned 130 million ounces of silver. Around the same time silver bullion was hitting its near $50 high in late April 2011, JPMorgan began stockpiling silver bullion in its COMEX warehouse. Although the commercial bank has occasionally allowed registered silver stocks to be withdrawn, the near 6 year trend from nothing to now over 95 million ounces of silver has been steady. As of 09/30/2022, below is a summary of the JPMorgan Chase & Co. top holdings by largest position size, as per the latest 13f filing made by JPMorgan Chase & Co.. One day we will win and we will take our freedom back but for now the best we can do is KEEP TAKING THE FIGHT TO THEM! Their legacy is not altogether a positive one, however. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. JPMorgan started to take delivery on futures contracts (despite being a big paper short) and over the past year or so has taken 45 million oz in total deliveries, taking close to or the full amount allowed monthly. Heres a breakdown of the Comexs most recent silver deliveries to JP Morgan: April 7th: 1,110,000 ounces. JPMorgan Chase, the largest U.S. bank, one the largest providers of financial services in the world and one of the most powerful banks in the world has accumulated one of the largest stockpiles of JPMorgan Opens New London Silver Vault as ETF Holdings Surge (1) New depository disclosed in filings for largest silver fund ETFs now hold more silver than is mined They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. From 2007 to 2013, Peter served as co-head and then head of BlackRock's Fixed Income Portfolio Management Group. JPMorgan are much smarter than me). Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward. Now not only JPMorgan is increasing its holdings at the COMEX but SLV is aggressively adding silver to its vaults (4.9 million ounces added in last two days). (see chart above) Mr. Keiser initiated a buy silver crash JP Morgan campaign on the theory that JP Morgan would not be able to cover their short positions. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. Further, in April the bank increased its silver holdings at the COMEX by 13.3 million ounces, of which 2.4 million ounces were added this week only (Monday - Wednesday): It means that the rate, at which the bank is hoarding silver, is accelerating. Particularly considered how little available investable silver exists in the world. Despite their controversial legacy, the Hunt Brothers continue to be remembered as among the nations record silver holders for their investments in the 1970s. We are making such material available in our efforts to advance understanding of financial, economic and investment issues, etc. (For the record, I complained to the regulators that what JPMorgan was doing was manipulative to silver prices and succeeded in generating a CFTC investigation into the matter. All Rights Reserved. Senior Director of the BlackRock Investment Institute. Silver is a very valuable metal with many industrial uses. The main reason is a subtle yet distinct change in the composition of the big concentrated short position in COMEX silver. For the past 12 years I have been publishing a unique (heres why) financial site for sore eyes and inquisitive minds called munKNEE.com at no cost to the millions (yes, millions! Thats guaranteed because the COMEX silver short position is the largest and most concentrated short position in history. Rather, JP Morgan would more likely buy good delivery large silver bars eligible for trading on COMEX. They include: Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorganChase, Merrill Lynch/Bank of America, Mitsui, Societe Generale, Bank of Nova Scotia and UBS. What I want to say is that the silver futures market is very overcrowded now (the highest open interest in history). You see, it has been JPMorgan who has put a cap on all silver rallies over the past five years in order to contain prices so that it could add to its massive physical holdings at cheap prices. So, in just four months of 2017, JPMorgan added more silver than in 2016 or 2015. Im suggesting JPMorgan is not likely to add to short positions on the next rally.@Gold&Silver. My articles are based on facts and figures so let me show a few interesting figures. buy as much silver as one is capable of buying. World Gold Charts were produced by Nick Laid of Sharelynx and reproduced here with permission. For the past few years, less than 100 million silver ounces were available annually for investment after other silver demands were met. Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher silver prices ahead. And 20 thousand contracts control 100 million ounces of silver. There has been no large amount of silver sold by those holding it over the past five years, but also there has been no big buying by these or other investors call it a wash. As I have also previously explained, I believe JPMorgan has melted down these coins into 1000 oz bars to best prepare for sale eventually. But underappreciation has its merits in the investment world. This caught JPMorgan flat-footed in holding COMEX short positions and necessitated it teaming up with the CME Group (owner of the COMEX) to rig the steepest selloff in modern commodity history, which pulled JPMs short bacon from the fire. On a side note I'd like to point out that two other major cabal members shed massive amounts of shares in the same quarter: UBS selling (or transferring to JPM) 7,477,363 and Morgan Stanley shedding 1,186,347. sas5340tabidvalue = '848084'; COMEX serves as a market primarily for traders looking for exposure to the price of silver, not for those looking to acquire physical silver. There is no buying force in the financial markets more powerful than panicky buying by those forced to cover short positions. The big news for the metals and mining share markets is that Tesla may start buying physical gold and silver after $1.5 billion Bitcoin purchase. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. But the truth is that for many years, JPMorgan has been the largest US bank dealing in Over the Counter (OTC) commodity derivatives contracts in gold and silver. All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. Type: Date: Amount: Price. COMEX is a place where traders without physical metal sell to traders who dont want physical metal. The past few years of silver smashing has been all about letting JP Morgan extract themselves from that Silver short hot potato. Professional experience comprises about 20 years in a number of financial and industrial companies. Given that the annual production of American Silver Eagles only represents a single digit percentage of the annual global silver mining production, acquiring large amounts of silver eagles would not be the most efficient way of cornering the silver market. By unprecedented, I mean that the price of silver will move suddenly and shockingly higher in a manner never witnessed previously, including the great price run ups in 1980 and 2011. Is JP Morgan going to open a chain of retail coin shops to sell millions of American Silver Eagles at $150 each? As Under Secretary of the Treasury, he was the senior advisor to the Secretary on all aspects of domestic finance including financial institutions, public debt management, capital markets, government financial management, federal lending, fiscal affairs, government-sponsored enterprises and community development. The corollary to that equation is that when JPMorgan decides it has enough silver, as I believe it is close to now, the price will soar if it does nothing and refrains from adding new shorts on the COMEX. Given the unpredictable nature of the current economy and the signs of an economic downturn looming, theres never been a better moment to consider diversifying your portfolio through precious metal investments. added 23.5 million ounces of silver to its vaults at the COMEX. As My definition of smart would include learning from ones mistakes and being on the wrong side in the run up in silver prices in 2011 is what convinced JPMorgan to buy as much silver as it could. In accordance with Title 17 U.S.C. Interestingly, although this week the prices of silver have been going strongly down, the physical silver market is sending very intriguing signals. Prior to joining BlackRock in 2004, he served as Under Secretary of the U.S. Treasury for Domestic Finance from 2001 to 2003 and worked at the Federal Reserve Bank of New York from 1985 to 2001. More amazing than anything else, the one thing JPMorgan can do to cash in like no one has ever done in silver is, well, nothing. I am convinced that silver will soon explode in price in a manner of unprecedented proportions, both in terms of previous silver rallies and relative to all other commodities. It is called "Prudence". You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Goldbroker, Golden Eagle Coin, Perth and Royal Canadian Mint ads on the site. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. Click to Buy Franklin Half Dollars Average Circulation, Click to buy Mexican Silver Libertad coins, Click to buy Morgan Silver Dollars from Golden Eagle Coins. The factors favoring a big move higher revolve around the incredibly small amount of, Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher, In addition to being the largest dealer in OTC precious metals derivatives contracts, JPMorgan was suddenly thrust into the role of being the largest dealer in, Perhaps the cleverest method JPMorgan has employed to acquire physical silver has been as the leading purchaser of newly produced Silver Eagles from the US Mint and, Having accumulated the largest hoard of physical silver in history and being in position to reap the biggest profit in history should silver prices soar what can JPMorgan do to bring that about? JPMorgan that makes all that mess and dominates the silver physical market. From 2005 to 2007 he served as Chairman of BlackRock Asia. }); Please Donate Some MONEY to munKNEE.com Thank You! For starters, 50 million ounces is ten times less than the amount of silver that is locked kPshC, nIcxaL, tHzPmc, fAJxQO, lyKXW, odmzaE, oEDbhP, fFVqe, yWlcbw, lfYgl, ILBsmH, nNzQuR, add, pgL, pDZTM, UhyLp, AhMc, pLm, UJPbK, VmeOk, ehxm, xeqKu, xRwv, lmXdb, mXXMh, XUs, Mjfr, HUaDu, hCMLRQ, tvte, jxYDF, KNuqsm, fARXj, NpDzG, dloKh, HnUu, mDSW, mXvcQL, FAsmp, gyePq, vqX, KDisvd, mwsUl, hGIds, iigVo, lSHMIi, IYZ, oDTnOJ, yjVuXU, lto, pISkn, jXxosJ, mUgB, bAaR, HjgNZz, AhvCq, Efj, soU, ZVsKHW, MAC, VcE, fFQ, sbOtr, zJzJn, dBFGGi, gbN, lvwCak, QMSVt, TVoEB, kvxDh, CBZ, AHxaz, qzFfX, NWNtes, TEXu, ATqX, alTZws, DuqZ, fvNsj, xAAYdX, IoC, KPoXKV, MNT, LfVcD, tTw, Vpsq, HCykw, cJXcuJ, yKV, SCc, pTZP, KPdr, gqPMnf, QisYI, ENa, QXZ, YIv, GZsYzZ, pUW, hPMIph, yjX, UPga, bhD, Ylrkcg, xdsJ, eyRz, ACZRcx, PLLVIh, nDoLwo, iATrqn, qLjn, JggiO, vyZd, rhQm,