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Outrageous....... JP MORGAN sticks it in us again!

Submitted by bad_karma on Thu, 10/22/2009 - 17:07
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This is nothing but coruption.. the big banks get bailed out and now they use that money to manipulate markets.

Ted Butler Commentary
October 21, 2009

Outrageous

(This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.)

After a three-day delay, the Bank Participation Report (BPR) for October was released by the CFTC today, October 12. The report, for positions held by commercial banks as of October 6, covers all commodities regulated by the Commodity Futures Trading Commission. It is the companion monthly report to the Commitment of Traders Report (COT), which is issued weekly. The new BPR indicates that the largest one or two US banks dramatically increased their short positions in COMEX gold and silver in the reporting month.

For silver, in particular, the increase was shocking. The largest US bank (thought to be JPMorgan), or banks, increased its silver short position by more than 28%, or by 8,487 contracts to an all-time record of 38,375 contracts. Expressed in equivalent ounces, the US bank(s) increased its silver futures short position by 42,435,000 ounces to 191,875,000 ounces. With a short position of almost 192 million ounces, JPMorgan appears to be short 29% of the annual world mine production of silver (660 million oz). Never in history has one (or two) entities held a more concentrated position, long or short, in any commodity of finite supply.

http://investmentrarities.com/ted_butler_comentary10-21-09.s...

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Jamie Dimon

Submitted by Liberty_Mike on Thu, 10/22/2009 - 20:05.

CEO of JP Morgan sits on the board of directors at the NY Fed. Just for those of you who didn't already know. http://www.newyorkfed.org/aboutthefed/org_nydirectors.html.

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http://theconstitutionalists1.blogspot.com

Keep Buying Silver!

Submitted by MrMountainBikeRacer on Thu, 10/22/2009 - 19:40.

And Palladium :)
 
Freedom, Prosperity and Peace

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Freedom, Prosperity and Peace

This is about to unwind and they will use their ....

Submitted by obscure titles on Thu, 10/22/2009 - 19:03.

hedge to minimize losses.

This is also old news.

You can not determine why they did.

It could have been a hedge on another bet.

All the more reason to be adding to a silver position rather than a gold position.

Free markets ... You can't stop them, you can only hope to change their timing.

WAHOR!!
http://www.dailypaul.com/node/48994

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WAHOR!!
http://www.dailypaul.com/node/48994

what hedge? A prudent man

Submitted by bad_karma on Thu, 10/22/2009 - 20:30.

what hedge?

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3

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A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

bought hecla mining and silver dec 2008 im a happy camper!!!

Submitted by krankitup99 on Thu, 10/22/2009 - 18:52.

I hear ya karma jp morgan is the ultimate puss pockets of the land but anyhow i went all in dec 2008 bought hecla mining nyse symbol hl at 1.87 and 2.05 and even went one step further and bought a bunch of 100 oz silver bars same time under 11.00 and i got em in my hand. HECLA NOW PUSHING 5.00 AND ALL IS WELL 135% GAIN AND STILL HOLDING. I got lucky and bought when it was really depressed, bottom line you can beat these guys as you just need to buy at the right time, regards the krankitup

Speaking of JP Morgan

Submitted by jennbran4life on Thu, 10/22/2009 - 18:51.

I've noticed a lot of Chase Banks popping up as of late here in south Florida...Washington Mutal's for one have been changing to Chase Banks

JP Morgan Chase Bank OWN's Washington Mutual!

Submitted by joeFL on Thu, 10/22/2009 - 19:03.

If you have a WM account it's a Chase Bank account now.

makes sense

Submitted by jennbran4life on Thu, 10/22/2009 - 20:49.

nah im with Wachovia/Wells Fargo at the moment

Weren't the Hunt Brothers

Submitted by BigT on Thu, 10/22/2009 - 18:41.

prosecuted for attempting to do something like this, in the 1980s?

not exactly prosecuted...

Submitted by bad_karma on Thu, 10/22/2009 - 21:12.

not exactly prosecuted... Jim Sinclair of jsmineset.com was the man who helped unwind that position.. now get this.. the hunts had only 10% of what jp morgan now controls.. the hunts got cooked but jpmorgan gets away with it..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3

—

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

I am not anxious to sell

Submitted by Jive_Dadson on Thu, 10/22/2009 - 18:09.

I am not anxious to sell silver. The shorts have not kept the silver I bought at around $9 from going to $17.70. Keep shorting JPM. I look forward to the Big Squeeze.

And..

Submitted by DaleinAdaOklahoma on Thu, 10/22/2009 - 17:59.

they didn't even kiss us first...