Well, with silver knocking on the $36 door, things are about to warm up even more for JPM in the months ahead. Their silver-shorting losses are already painfully huge - but with a bit of luck their NEW losses will send them bankrupt. So, since silver stackers are always ahead of the game, I thought it might be fitting to start planning for their funeral right now. You are all invited! Perhaps you might like to suggest something appropriate for this solemn event - something from the heart that expresses how you feel. An item of music? A work of art? A short eulogy? (And remember, this is for posterity..) I will start with a small but fitting tribute - a piece called "Wipe Out", by The Ventures. Says it all. (With every drum beat I see JPM losing one million dollars) [youtube]http://www.youtube.com/watch?v=XjiOtouyBOg[/youtube]
I always see talk of JPM's silver short position here but how bad is it? Bear in mind in 2010 they made a Net Profit of 17.37 Billion and had 2.118 Trillion in assets. Are they really in that bad of a position that they could fold? Surely if they are we don't want that to happen as it would definitely mean another crash ala 2007-2008 which I don't really think is a positive for anyone even though we may believe it is inevitable.
I agree, we don't want another crash. Too much suffering by too many innocent people, such a crash also badly effects people who do live within their means, children, the elderly, the poor, charities, and small businesses and self employed folk. JP morgan is like a giant zombie cockroach or the Daleks - they will just keep coming back.
Kenny Rogers - The Gambler. You got to know when to hold 'em, know when to fold 'em. Know when to walk away, know when to run.