time to bet with the banksters?

J P Morgan solid in silver

In early 2011 many people were excited by the meteoric rise in silver prices. Of course having possession of physical silver was the main source of cheer for them. But a real bonus for many was that the second biggest thief in history, J P Morgan, had a world-record SHORT position in silver. He had promised to deliver more silver than existed and had none.

The very real shortage of physical silver and the skyrocketing price had the watchers of such things gleefully looking towards J P going broke trying to deliver on his promises. Ah, but they underestimated RAW POWER. Look at what happened to the market whose price is controlled by the paper trades in silver promises. Note the timing of the dramatic 2011 change in direction.

five year silver

Morgan, his various arms and his friends have traded paper silver among themselves at whatever price tickles their fancy. Sell short when it is high, drive it down, buy physical silver, let it rise, rinse, repeat.

Betting against J P
is a quick way to go broke.

Of course those who know what silver is about are not toying with the market. They are holding physical silver as a long-term hedge against fragile paper currencies and inflated economies. The dabblers are the source of income for the manipulators.


Meanwhile, what happened to the guy who was
100 to 200 million ounces of silver short at its 2011 peak?

Butler’s calculations show that
JPMorgan has piled up the largest holding of physical silver in modern world.

Since the silver price peak in May 2011, the bank has accumulated between 100 and 200 million ounces of physical silver (if not more). The equivalent in metric tonnes is between 3,110 and 6,220 tonnes.

Yeah. From 200 million ounces in the hole, he manipulated his way to the opposite side of the bet.

The question now is:
Are you betting against him or with him?


Not worth its own post and possibly related, I give passing mention to a coincidence with a funny smell. Four people who perhaps knew too much died this week. A 4th banker has been found dead of an “apparent suicide” within the last week according to officials after apparently jumping 15 meters off a bridge to his death. We wonder what information an assassinated suicided JP Morgan, Deutsche Bank, and now former Federal Reserve official might have all been privy to?