7 votes

JP Morgan might have just gone long silver. Bypassing Comex.

WHY WAS 18.3MOZ OF SILVER DEPOSITED INTO THE SLV JAN 16TH?

The obvious answer is “JPM opened a new warehouse!”.
However, that does not answer the question, as only 10 Moz went into their new warehouse.
The experts seem to agree that one of the most plausible explanations is that JPM closed out their short position in SLV.
One or more people have 17,016,600 shares of SLV short (about 16,458,115oz) at last count (which could be a couple weeks old). It is believed that JPM is likely responsible for much or all of that short position. The unexplained addition of 17,410,210.4oz to SLV (remember, 967,881.6oz are considered a ‘normal deposit’) would cover the entire short position and then some. Or if another 967,881.6oz (1M shares) were a normal deposit, that would leave 16,442,329.4oz unaccounted for, almost exactly matching the short position.

http://www.silverdoctors.com/18-3-m-oz-slv-deposit-jpms-new-...

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Silver chart today looks like a super ball.

If you look at the record-setting bullion sales of last month and look at the price chart for the month, any notion that "supply and demand" still effect the COMEX can be dismissed. Industrial demand is presumed to have remained roughly stable, so a non-factor. Silver mines are AT break even - they will start threatening to quit mining if it goes much further. The fact that JP's MASSIVE move in addition to record setting bullion sales is hardly a blip in the silver charts proves that the COMEX is beginning to come unhinged from reality to the point that even casual observers are going to catch on.

Love or fear? Chose again with every breath.

Cyril's picture

BUMP.

BUMP.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Huhoh. Thank you for pointing this one out, now.

Huhoh.

Thank you for pointing this one out, now.

MUCH appreciated.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

for us idiots

Please explain.

For non-silver bugs, best I can summarize, why this is big news.

"SLV" is an investment fund, they do a sort of "fractional reserve funding" in physical silver. They supposedly have a warehouse where they have, for the sake of instruction, "100" bars of silver. You invest at "spot" price on the COMEX, at say $30 an ounce. They send you a piece of paper saying you have ownership of 3.3 oz of silver, redeemable in silver OR cash. Actually, in their syllabus I think they have removed the word "silver" and replaced it with some euphemism. Anyway, this is then pimped out as "silver investing" and especially by JP Morgan whose various investment firms invest at a rate that exceeds 10000 ounces. Got that? For every bar the SLV warehouse claims to hold, JP Morgan claims ownership of 100. It is the "short" position they hold. It is only legal because the presumption is not everyone will want to get bullion at once, and they can buy out of the market if they need to. BUT, they are near or maybe at the point where even the PHYSICAL market does not have that much silver available. If JP Morgan actually got called out on all their short positions, they would have to drain the industrial market of silver. If you don't think that would affect you, you can start with kissing that computer in front of you goodbye and don't reach for a cell phone to call someone to cry about it.
There has been a relentless effort to expose this fraud, led by GATA and championed by Max Keiser. If you really want to catch up, go to their websites. In apparent response to their increasing risk of exposure, both in the market and in the media, JP appears to have made a big move to close out those shorts.

Love or fear? Chose again with every breath.

If the criminal mafia known as JP Morgan

just closed out their short positions (short=price drop) and actually is now Long (long=prices going up), then we shoud see a massive move in silver very soon.