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<p>[QUOTE=&quot;Cloudsweeper99, post: 851904, member: 3011&quot;]There is no proof in what you wrote.&nbsp; There is a lot of opinion.&nbsp; GATA and others have hinted that JP Morgan and HSBC are most likely the two large shorts in the silver market.&nbsp; People presume they can&#039;t deliver the silver.&nbsp; How do they know since this is not public knowledge?&nbsp; They don&#039;t.&nbsp; What is public knowledge is that Russia has massive gold reserves and China massive silver reserves.&nbsp; There are other large private gold reserves someplace from the British gold sales in the early 2000&#039;s.&nbsp; </p><p><br /></p><p>It is very possible that GATA is correct.&nbsp; It is equally possible that the paper positions are backed by Russian, Chinese and other&#039;s metal and that JPM and HSBC are just fronting for their clients to enable them to earn an income stream on their metal holdings.&nbsp; Time will tell if/when the CFTC forces the large traders to disclose their holdings and the holdings of their clients.&nbsp; This hasn&#039;t happened yet.[/QUOTE]</p><p><br /></p>

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