Ted Butler - JP Morgan Holds Highest Amount Of Silver In History

Discussion in 'Silver' started by Holdfast, Feb 5, 2014.

  1. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    While everyone is focused on the massive outflows in COMEX registered gold inventories and the gold ETF, GLD, it seems that an important evolution in silver is passing unnoticed.

    Ted Butler, precious metals analyst specialized in COT analysis, reveals a remarkable insight in the physical silver market.

    Butler's calculations show that JPMorgan (NYSE:JPM) has piled up the largest holding of physical silver in modern world.

    Since the silver price peak in May 2011, the bank has accumulated between 100 and 200 million ounces of physical silver (if not more). The equivalent in metric tonnes is between 3,110 and 6,220 tonnes.

    http://etfdailynews.com/2014/02/04/jp-morgan-holds-highest-amount-of-physical-silver-in-history/
     
  2. willrocks

    willrocks Well-Known Member Silver Stacker

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    Are they sure it's physical silver, and not paper 'silver'?

    Assuming it's true, and they own that much physical. Why would they continually drive the price down like many suspect them of doing?
     
  3. fields

    fields Member

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    If you artificially suppress prices and then buy up cheap you can then raise them and corner the market - low prices are only harmful if you are a seller. A tatcic that has been used over the years by many to make a tidy profit.
     
  4. worldbubble

    worldbubble Active Member

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    if you have bilions of billions of $ and want to buy something would you want to buy as much for cheap or drive price up while buying?
     

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