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<p>[QUOTE=&quot;InfleXion, post: 1317202, member: 29012&quot;]Whether the Fed is using JPM or vice versa is splitting hairs. They work together. JPM is a one of their primary dealers, and gets to borrow money more cheaply than they loan it out to us common folk. If anything JPM is getting the better end of the deal. The Fed money is not tax payer dollars. It&#039;s new money printed which devalues existing money. So we still pay for it indirectly.&nbsp; </p><p><br /></p><p>If you look at the shorts vs. longs in the Bank Participation Reports on the CFTC web site, there is not a concentrated short position on the COMEX for silver. This does not include OTC (&#039;over the counter&#039; AKA &#039;under the table&#039; in reality) derivatives which are highly leveraged, impact the price, and are not on the books. So there&#039;s really no way to know the true long vs. short story or whether any of this OTC shorting is naked.</p><p><br /></p><p>Besides that, JPM is not only the seller of the paper silver, but they are also the guardian of the silver vaults for the COMEX. So even if it were on the books, there&#039;s still no way to know if the books are accurate because the fox is guarding the hen house. Bix Weir and Adrian Douglas allege that the leverage is between 40 to 1 and over 100 to 1 as you&#039;ve stated, by leasing out the same serial numbered bars to multiple customers, so that they can prove &#039;Your bars exist, see!&#039;, but very few in the futures market actually request delivery of the silver so their hand hasn&#039;t been called yet. Even in the absence of hard evidence, anyone can see that the situation has great potential for being taken advantage of. Good deeds have no need for the cover of darkness, but that doesn&#039;t prove anything.</p><p><br /></p><p>&nbsp; </p><p><br /></p><p>Here&#039;s an article I found recently on this subject (some paragraphs omitted in quote). Suffice it to say, they are probably the biggest player in the gold market unless India is, and they are buying it hand over fist.</p><p><a href="http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=140824&amp;sn=Detail&amp;pid=102055" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=140824&amp;sn=Detail&amp;pid=102055" rel="nofollow">http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=140824&amp;sn=Detail&amp;pid=102055</a>[/QUOTE]</p><p><br /></p>

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