Discussion in 'Bullion Investing' started by CHARLES GINETTO, Jan 30, 2020.
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The rest of it we don't know.
J P Morgan are the new Hunt Brothers, I read somewhere that they own 53% of all physical silver trading ON the COMEX
It has been a wild ride so far this week for silver!
Well, that's not good. I would hope the FTC has some notion of this. Not sure what % it would take to tip something into action.
I price PMs as money, and base their values in commodities.
If I remember right they took over Bear Stearns silver position back in 08 which was pretty big so the FTC would have had to approve, I don't think the position was 53% big at the time or intended to get any bigger but Jamie D knows his way about so it would not be surprising at all
And the Hunt brothers were pigs.
Silver will go up when the market demands it and it will drop for the same reasons. It may even remain the same.
No they don't. They are a clearing firm for various holders of the coin.
JP Morgan Chase owns less silver than most of you.
I know....I get it...but so much of what you read nowadays is by people writing something without doing their research (not you, the original writer).
I see so much baloney involving finance and economics and markets. Favorite is "Wall Street banks were bailed out" when they paid the money back in 6 months or got diluted to hell.
They got hurt too, and nobody told anybody to buy. The price quadrupled in 4 months, I don't know where people thought it was going to, $1,000 an ounce ?
No argument, but the CFTC and COMEX changed the rules in the middle of the game.
Bear Stearns CLEARING operations held the positions, not Bear Stearns or JPM Chase.
These firms do NOT speculate in PM's. The regulators would eviscerate them. Jamie Dimon has said he would fire any of his traders who bought BitCoin (remember "The White Whale" ?).
They should have minted money....they're supposed to be middlemen buying and selling volatility and the metal, not speculating on the price.
That's what killed Bear Stearns when they moved away from Ace Greenburg's vision.
Convince the silver price conspiracy people about that. According to them, silver would be at $50 except for “price manipulation.”
Actually the price would be at $100
$20 an oz, i will be shocked as hell, Today,s massive movement +0.02
that,s poverty ! now if were talking Palladium, Current ask price $2359.88
now that,s insane !!
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