JP Morgan now holds more silver than the Hunt brothers ever did.

http://www.marketoracle.co.uk/Article61287.html

 

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Can you say market manipulation....

 

It's hard to imagine seeing that much silver in one place!

 

I can say it very well. I have been practicing for over ten years.

 

675 m oz silver hold . That a lot silver market price 17 dollars today is over 11 billion dollars .

 

You know what they say, $11 billion dollars cant buy you what is used to !

675 M oz might seem like a lot, but how much is mined every year? Doesn't the mint stamp like a million ASEs/year, not to mention all the other silver products?

 

Well if silver price go up that will be a lot money .

 

I think that is why they are keeping it low until they accumulate enough.

 

Well low price silver is good to buy I guess , we will see high price silver soon form now

 

forget about silver ever going above $20-$30 once it does jp morgan will dump it all and then we will be stuck again at $15 or even less for years to come ............

 

You have a valid point. But it would be better strategy for them to corner the market and let it out slowly as the price continues to rise.

 

Or even less...

 

From the article:

Those fiendish Manipulators! While the world is distracted by fiat's false promises, they've been buying up silver and LAUNCHING IT INTO SPACE!

 

I'll bet they don't hold as much as China does. And guess whose on the LBMA nowadays.

Regardless, do they hold enough to redeem every leveraged contract? Because if they don't, then it doens't matter how much they have, ain't enough to put the lid back on Pandora's box. I'm not real sure about silver (JPM runs the SLV), but last I heard gold was leveraged in the multiple hundreds to 1.

 

They don't "own" that much silver....they are custodians for other owners. They also have clearing operations.

The Hunt's owned the silver and were trying to create a short-squeeze.

Totally different situations.

 

As long as silver stays put i,am happy not really trying to make money just
Put it it to something somewhat stable, being realistic silver will never see
Super high values and iam ok with that.

 

I can't think of a worse sign for silver than the JPMorgan bwain twust going long on it. Hopefully they are just custodians for other peoples' silver.

 

Calling all "chicken littles". If there was necessary demand for physical silver that would actually demand even 1/10th of that amount, it would be a different story, one of supply and demand. But today almost the only demand other than traditional ones such as jewelry, electrical connections, optics, etc. , is the demand that can be manufactured by the side shown of " security and big rewards in the future" firms. Most of the people who stash precious metals "say" its for some financial crisis, end of world as we know it scenario, etc. But most scenarios realistically will show there are many other investments that would be more beneficial in such time than stored silver bullion. I like silver, it is pretty, but i couldn't eat it, it won't take the place of necessary prescription drugs, it is heavy, but it will not determine my future, financially or physically. if the price goes up beyond my limit , I will sell, if it goes below, I will buy. I can not believe that JPMorgan with all of their connections ( shady, political, other governements, could not find investments with greater returns. Halloween came early. Jim

 

Calling all pollyannas.

Stackers are anticipating the future or better yet anticipating what others will anticipate about the future. It doesn't matter whether Mad Max happens or not.

But oh no, people who dare question the sustainability of status quo unicorns frolicking about bright green lawns every morning are "chicken littles."

While wallstreet pollyannas, discounting the dow into the freaking afterlife for sea turtles, act as though they're investment geniuses.

 

As I recall, I did not mention the DOW or similar at all, I just said "better investments", and that includes many other than the dow or bullion. If someone wishes to follow the directions indicated by the " Market Oracle" ( perhaps Bullion Seller Oracle ) would be more suited, seek the "silver salvation of Future Mankind". Jim