JPs Silver Stockpile

[bron suchecki]

Probably the simplest argument is that does anyone think bullion banks would operate in a market where their actual position was so obvious, opening them up to being front run and gamed? Of course not. The house and client figures are not relatable to warehouse stocks/deliveries, they are two separate reports. Conflating the two is the fundamental flaw behind Harvey Organ and other's "analysis" and conclusion, even though it has been explained to them.

 

[Pirocco]

Because that's what the roles of the company named "JP Morgan Chase" are: bullion bank, swap dealer.
Being an entity that serves as a guaranteed counterparty. On a market, every will to sell or buy has to be fullfilled, the price will be changed until that happens. JP Morgan offers that "service". If nobody pops up to buy at a higher price, JP Morgan jumps in and does so. And vice versa, if nobody pops up to sell at a lower price, JP Morgan raises a hand.

Guaranteeing counterparty risk does not oblige JPM to be market-maker - there is no obligation for them to provide this service.
Orders are fulfilled by supply/demand (price), not by any goodwill service of JPM.

That (price) has a futures contracts - based part in it. That's where that "goodwill" of JPM (and also others) translates to the price. The distinction you make here is, to use your own favorite word for it, "semantics".

 

[wrcmad]

Because that's what the roles of the company named "JP Morgan Chase" are: bullion bank, swap dealer.
Being an entity that serves as a guaranteed counterparty. On a market, every will to sell or buy has to be fullfilled, the price will be changed until that happens. JP Morgan offers that "service". If nobody pops up to buy at a higher price, JP Morgan jumps in and does so. And vice versa, if nobody pops up to sell at a lower price, JP Morgan raises a hand.

Guaranteeing counterparty risk does not oblige JPM to be market-maker - there is no obligation for them to provide this service.
Orders are fulfilled by supply/demand (price), not by any goodwill service of JPM.

That (price) has a futures contracts - based part in it. That's where that "goodwill" of JPM (and also others) translates to the price. The distinction you make here is, to use your own favorite word for it, "semantics".

No. I don't think so.
No semantics.