http://silverseek.com/commentary/genius-jpmorgan-17823 In essence: JPM buys out Bear Stearns in 2008 GFC, which had the largest short position on the COMEX JPM then becomes the biggest shorter, but at the same time gradually accumulates the world’s biggest stack, 900MOz, more than a whole year of the entire global silver supply JPM also accumulates 25MOz gold, about a quarter of the world’s annual production Ted’s theory - the grand plan is to shaft the other shorters. “The combination of JPMorgan being ideally positioned for an historic surge in the price of gold and silver and the other big shorts being as poorly positioned as is possible is not a work of fiction but of fact, based upon public data published by the CFTC. This is what sets the stage for a dramatic price rise in gold and silver. Should Bridgewater Associates (ie Ray Dalio) be proven correct about gold surging to $2000, the additional damage to the big shorts is almost incalculable”
Just a quick correction: "900MOz, more than a whole year of the entire global silver supply". 900Moz is more than a whole year of global mining supply. Total supply is over 1 billion Oz's once you factor in scrap metal refining. Also, JPM's alleged holdings could be used to inject physical silver and gold into the markets to keep the price suppressed, rather than to capitalise on higher metal prices. I'm very sceptical about metal prices over the next few months. I have a feeling that we will go lower before we go higher.
Ted Butler has no idea, and is the last person you should be listening to..... after Mike Baloney. This is Ted:
That photo of Ted with the bong is a classic. I will never be able to think of Ted Butler in the same light again. Well done wrcmad, could be the post of the year..(if such an award existed)
Keith Weiner from Monetary Metals has a good analysis of precious metals. Monetary Metals even offer interest (around 3%) paid in gold, if you loan metal to one of their metal leases. Minimum 10 oz of gold or equivalent in silver. Australian investors gold is pooled at Australian Bullion Company.