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<p>[QUOTE=&quot;InfleXion, post: 1447486, member: 29012&quot;]Cloud, not to be intentionally difficult, but I don&#039;t see any logical reasoning to support why the market has proven them wrong. The reasons they got involved had nothing to do with price, and everything to do with following the trail of &quot;whys&quot;. You may very well be right about them not changing their minds since they&#039;ve built their financial sustainability around the concepts that were once proven (and have yet to be reaffirmed in more recent days, but IMO are not disproven either), but that doesn&#039;t impact the reasons why they started doing what they are doing which are still even just as true today as they were back then.&nbsp; &nbsp; </p><p><br /></p><p><a href="http://www.investmentrarities.com/ted_butler_comentary03-09-12.shtml" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.investmentrarities.com/ted_butler_comentary03-09-12.shtml" rel="nofollow">http://www.investmentrarities.com/ted_butler_comentary03-09-12.shtml</a>&nbsp; &nbsp; </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; </p><p><br /></p><p>This short position has passed around different institutions, but currently is held by JP Morgan since absorbing it from Bear Sterns in 2008. There is no evidence I am aware of that this is naked shorting. It may very well be valid, but based on the dwindling amount of silver in the COMEX vaults (which incidentally received a nice boost when MF Global customers had their metal stolen, $1.2 billion of which went to JPM) I have to wonder where else they have the silver inventory to hedge this massive short position. If his fears were exaggerated, why did they have to steal from customers to keep their vaults filled?[/QUOTE]</p><p><br /></p>

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