The most remarkable aspect to JPMorgans massive physical silver accumulation is that it was able to do so on steadily declining prices, because, as you know, silver prices have declined from near the $50-mark over the past five years. sas5340tabidvalue = '848084'; Despite the fluctuation of silvers value, it has become an increasingly popular investment. That's why the banking cabal has sat on the price of silver this whole time. Despite a compelling desire to shield its silver accumulation from public scrutiny, some important visible clues have emerged pointing to JPMorgans actions since April 2011. Ill get into what JPMorgan must do to insure the highest possible price for silver in a moment, but first let me establish that the bank has acquired 500 million ounces of metal. According to the last COT report, four largest traders standing on the short side of the trade hold a net short position of 80 thousand contracts. The largest short position ever holds the potential for the greatest short covering rally ever. Smaulgld gold buying guides provide detailed information about a variety of gold products including the mintages, gold content and history of gold coins bars and rounds. But I believe that plan was stopped as soon as it was noticed by the Good Guys that the Citibank silver derivative book had ballooned. JPMorgan Chase & Co. has begun operating a new silver vault in London following a dramatic increase in demand for the metal from exchange-traded funds. Claude Delsol, conteur magicien des mots et des objets, est un professionnel du spectacle vivant, un homme de paroles, un crateur, un concepteur dvnements, un conseiller artistique, un auteur, un partenaire, un citoyen du monde. Home | US Financial Professionals | J.P. Morgan Asset Management Access timely insights, solutions and tools to help navigate market volatility > Keep portfolios on course through fast-moving markets Get instant portfolio analytics, side-by-side comparisons, historic stress tests, future scenarios, observations and client reports all at no cost. At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. However, if that is the case, another question arises: Why would the other participants be interested in massive withdrawals of silver? The spot silver price closed the week decidedly over $23 oz, while the spot gold price closed near $1800 oz. Also, visit U.S. Code 17-107 Limitations on Exclusive Rights - Fair Use. I think that the bank wants to protect itself against large withdrawals of silver by the traders participating in the silver futures play. COMEX is a place where traders without physical metal sell to traders who dont want physical metal. But because the continued manipulation resulted in silver being priced too low for too long, by late 2010, signs of a physical shortage began to appear, in accordance with the immutable law of supply and demand, and silver prices surged to nearly $50 by April 2011, from as low as under $9 in late 2008. Also get the free report Twelve Key Differences Between Gold and Silver when you subscribe. From examining the chart above, its easy to discern the huge increase in JP Morgans 55 million ounce silver stock pile. Silver contracts on COMEX are traded in 2,500 and 5,000 ounce increments. JP Morgan, the largest U.S. commercial and investment bank, is increasing its stockpiles of silver, betting that prices will move higher as inflation begins to take hold. The price of the precious metal and its popularity have fluctuated from highs during silver spikes in mid-January 1980 and late April 2011, to lows following investor and mining company lawsuits. The Analysis And Discussion Provided On Silverdoctors Is For Your Education And Entertainment Only, It Is Not Recommended For Trading Purposes. Love podcasts or audiobooks? COMEX is, in a sense, a fractional reserve metals trading system. Click to Buy Smaulgld Classic Mug with Free Shipping in the Continental United States. The past few years of silver smashing has been all about letting JP Morgan extract themselves from that Silver short hot potato. No matter your take on the debate, one thing is clear. Click on privacy policy below for more details. If you purchase items though the links on this site, Smaulgld LLC. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site. Clearly, JP Morgan has the financial wherewithall to corner the silver market. The main reason is a subtle yet distinct change in the composition of the big concentrated short position in COMEX silver. I do not know what part of these 80 thousand contracts is attributable to the bank but it may be easily calculated that the average large trader standing on the short side of the trade holds 20 thousand contracts (80 thousand divided by four). The bank has never been better positioned for a silver price explosion. Your Own Due Diligence Is Recommended Before Buying Or Selling Any Investments, Securities, Or Precious Metals. J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. After studying the silver market closely for more than three decades, I find it nearly unbelievable that its single most important price factor is widely unknown. Cornering the silver market would not be worth the trouble, especially when there is easy money for JP Morgan and multi billionnaires to make easy money elsewhere. Both are playing the opposite side of the trade to control the price as the cabal trades back and forth to each other. Thats guaranteed because the COMEX silver short position is the largest and most concentrated short position in history. That has amounted to about 6,500 articles, in total, over that 12-year period. For starters, 50 million ounces is ten times less than the amount of silver that is locked in silver ETFs (JP Morgan is the custodian for SLV, the largest silver ETF) and less than 7% of the annual global silver mining production. I am convinced that silver will soon explode in price in a manner of unprecedented proportions, both in terms of previous silver rallies and relative to all other commodities. Gold and Real Estate Are Assets, Not Investments. The suit by hedge fund manager Daniel Shak JP Morgan Acquiring American Silver Eagles? As with all investments, there are associated risks and you could lose money investing. J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. After all, thats exactly what JPMorgan has done and after five years, it wouldnt appear the wait will be very much longer. We are the #1 name in metals and a leading independent retailer of gold and silver products, including bars, rounds, and coins. Most silver contracts are rolled over or traded prior to their expiration and no delivery occurs. Since the beginning of 2017 JPMorgan has added 23.5 million ounces of silver to its vaults at the COMEX. However, this week SLV added vast amounts of silver. Legendary silver analyst Ted Butler believes JP Morgan are in a position to corner silver market JP Morgan may be holding as much as 350 million ounces of physical silver JP Morgan realises the value of owning physical silver bullion today Silver at $16 today Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. The ill fated London Whale trade itself cost JP Morgan over $6 billion in losses. Earlier this year, Mr. Butler surmised that JP Morgan had been accumulating a large percentage of the record number of American Silver Eagles produced over the past few years. JP Morgan Holds Highest Amount Of Physical Silver In History My definition of smart would include learning from ones mistakes and being on the wrong side in the run up in silver prices in 2011 is what convinced JPMorgan to buy as much silver as it could. JP Morgan has added about 50 million ounces of silver to its COMEX approved depository stock pile since 2011. ALERT: Silver Short Hot Potato Being Passed Again If you have an ad-blocker enabled you may be blocked from proceeding. In my opinion, it is a very large figure. Due to the large weekly churn, JPMorgan was able to skim off hundreds of millions of silver ounces, which were brought into its COMEX warehouse and other non-public warehouses. And I cant imagine who would be more capable of pulling this off over than JPMorgan, the best-connected and most powerful US bank. The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. Given the unpredictable nature of the current economy and the signs of an economic downturn looming, theres never been a better moment to consider diversifying your portfolio through precious metal investments. In my opinion, it is a very large figure. As a result of being able to sell short virtually unlimited quantities of COMEX silver futures contracts as prices rose and then buying back those contracts as it then caused prices to fall, JPMorgan made many hundreds of millions of dollars in the years immediately following its takeover of Bear Stearns in early 2008. Market analysts have repeatedly called out JP Morgan for alleged fraud and market manipulation. SG assumes no duty to make any such corrections or updates. For starters, 50 million ounces is ten times less than the amount of silver that is locked A brief look at the silver acquisition record holders over the last few decades shows why. Having looked into the abyss with its big short position as silver soared into the April 2011 price highs, it suddenly dawned on JPMorgan how little actual silver existed in the world and at that time it decided that the right side to be on in silver was the long side, not the short side. As I have also previously explained, I believe JPMorgan has melted down these coins into 1000 oz bars to best prepare for sale eventually. The other big player, SLV, has been reducing its silver holdings. Well, I do not want to discuss these theories. The prices charged are the same as they would be if you were to visit the sites directly. If that is the point, it means that JPMorgan does nothing special - the bank is simply protecting itself against the increased withdrawals of silver bullion. He served on the board of the Securities Investor Protection Corporation and as a member of the Airline Transportation Stabilization Board and also as the Treasury representative to the Pension Benefit Guaranty Corporation. Im suggesting JPMorgan is not likely to add to short positions on the next rally.@Gold&Silver. After all, silver does have a history of climbing in price higher and faster than just about any other asset and a multitude of factors now point to another massive price move higher ahead. Further, buying millions of American Silver Eagles would not be a cost effective way of cornering the silver market. The American silver trade has developed gradually over the last fifty years. What is more, the bank behaves like a typical speculator cornering the market (despite the falling silver prices, it is rapidly hoarding silver): Note that the largest additions were made in April (this month silver prices are down around 3.9%). We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. While it would appear that JPMorgan came to acquire Bear Stearns by government request, data from a different government agency, the CFTC, clearly indicate that JPMorgan came to dominate and manipulate silver pricing by means of maintaining and adjusting the largest concentrated short position in COMEX silver futures. Click to Buy Smaulgld Super Classic Mug with Free Shipping in the Continental United States. This stockpile began in 2011 when JP Morgan opened their own silver warehouse, starting with no silver. sas5340tabafftrackvalue = ''; Gold and Silver Bullion Dealers Bullion Vault Goldbroker.com Golden Eagle Coins Money Metals Exchange SD Bullion, Government Mints The Royal Canadian Mint The Royal Mint, (affiliate links - Smaulgld receives commission for sales), Twelve Ways Gold Is Different Than Silver, Gold and Real Estate are Assets Not Investments, Twelve Ways Silver is Different Than Gold, The Silver to Gold Sales Ratio (updated monthly), Austrian Philharmonic Gold Coins For Sale, Austrian Philharmonic Silver Coins For Sale, Canadian Maple Leaf Silver Coins For Sale, Top Foreign Holders of U.S. Treasury Bonds, Janet Yellen and the Precious Printing Press, Welcome to the Revocery! (affiliate link - Smaulgld receives commission for sales), Click Here To Buy Gold And Silver From Money Metals Exchange, Click Here To Buy Silver From Golden Eagle Coins, Click Here To Buy Gold From Golden Eagle Coins. JP Morgan is the custodian for physical silver in the iShares Silver Trust (SLV) ETF. registration number) and the article in question will be immediately deleted from the site. In my previous articles I emphasized that the silver market is very hot now. Who are the U.S. Mints Authorized Purchasers, Comex Long and Short Positions March 2015, Gold and Silver Price Manipulation Suspected. Because the entire time JPM was buying silver, it was still managing the price lower on the COMEX by maintaining and managing its manipulative paper short position. Now not only. More amazing than anything else, the one thing JPMorgan can do to cash in like no one has ever done in silver is, well, nothing. According to the Forbes list of the worlds wealthiest persons, there are also seventy seven individuals, including Vladimir Putin (net worth $15 billion), whose net worth is large enought to buy an entire years global silver mining production). In addition to being the largest dealer in OTC precious metals derivatives contracts, JPMorgan was suddenly thrust into the role of being the largest dealer in gold and silver on the COMEX, as a result of being asked (by the US Treasury and Federal Reserve) to take over the failing investment banking firm Bear Stearns in March 2008. This buying will send silver prices skyward and then touch off all sorts of other buying, including investment buying and then industrial user buying, perhaps the most potent buying of all. Coincidentally or not, since the year 2006, JP Morgan (JPM) has been an active SLV Authorized Participant (one of only a few financial institutions able to withdraw physical silver bullion bars for SLV equity shares). As well, JP Morgan has been the sole or lone SLV Custodian since the silver ETF began trading worldwide in 2006. Their legacy is not altogether a positive one, however. Compounding the small amount of truly available supply from existing holders is the bedrock certainty that most of the silver newly mined and produced is spoken for and consumed by a variety of industrial and other fabrication demands investment demand must compete with those other demands, a circumstance highly unique to silver. Yet does such an large increase in silver holding signal JP Morgans intention to corner the silver market? }); Please Donate Some MONEY to munKNEE.com Thank You! However, this week SLV added vast amounts Mr. Fisher's other current responsibilities include serving as a member of the Strategic Advisory Committee at Agence France Trsor, the FDIC's Advisory Committee on Systemic Resolution, the IMF's Financial Institutions Consultative Group and the Google Investment Advisory Committee. Further, going back to the COMEX - as I mentioned above, this year 14.4 million ounces of silver were added to the COMEX vaults but this increase was attributable to JPMorgan only: Summarizing - it is JPMorgan that makes all that mess and dominates the silver physical market. Fewer than 900 million ounces of silver are mined each year. Subscribe to Smaulgld.com for free to receive gold and silver updates. No complicated trading formulas, no risky leveraged schemes just buy real silver for full cash payment and sit and wait. Thats not a misprint. This is truly the perfect crime buying a corner on the physical silver market cheaply, by maintaining a short corner on the paper COMEX market. How to Buy Austrian Silver Philharmonic Coins How to Buy American Silver Eagle Coins, How to Buy Perth Mint Silver Kangaroo Coins, How to Buy Canadian Silver Maple Leaf Coins. If you like what you see then This epic accumulation has changed the composition of the concentrated COMEX short position more than any single factor. J.P. Morgan is one of the bullion banks that form the London Bullion Market Association that make a market in physical gold and silver. In contrast, the only reason JPMorgan has acquired half a billion ounces of actual silver is for the express purpose of making as much of a profit as possible. I wrote this article myself, and it expresses my own opinions. I hope this request for money hasnt offended you and, should you choose not to donate, that you will still continue to Follow the munKNEE! Interestingly, although this week the prices of silver have been going strongly down, the physical silver market is sending very intriguing signals. Franco Nevada is the largest silver mining share holding of JPMorgan and/or its investment affiliates. JPMorgan ChaseBank N.A., London branch is the custodian of the SLV Trust. Ounces of Silver in Trust as of 26-Aug-2016: 356,894,478.60 SLV is the largest silver ETF in the world with over 350 million ounces. Sign Up For Smaulgld.com Updates Here! It is that fast and easy. As the leading dealer and largest warehouse on the COMEX, as well as the official custodian and leading authorized participant of the worlds largest silver ETF, SLV, JPMorgan was in a privileged and special position to have acquired, effectively, all the newly available silver in the world for the past five years. Admittedly, the vast majority of the investment world has little interest in silver and thats unlikely to change any time soon. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. All price manipulations must come to an end. Yet does such an large increase in silver holding signal JP Morgans intention to corner the silver market? The US Government once owned several billion ounces of silver, but today holds no silver, having completely eliminated its holdings. JPMorgan has used a variety of methods in accumulating its massive silver hoard, as I have previously detailed. Today, it also owns 50% of the worlds COMEX silver bullion. We Do Not Share In Your Profits, And Thus Will Not Take Responsibility For Your Losses As Well. You can unsubscribe (withdraw your consent) from these emails at any time. My articles are based on facts and figures so let me show a few interesting figures. An unorthodox approach to the mining sector, precious and base metals. Every week I surf the net on your behalf looking for the 10 most informative articles written by the best commentators/analysts out there which I then edit and abridge before posting to provide you with a faster, and easier read. The paper silver market (silver futures) is overcrowded now - the total open interest stands at its highest reading in history. American Silver Eagles can not be traded on COMEX. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. JPMorgan Chase & Co. (JPMorgan), a New York, New York-based global banking and financial services firm, has entered into a resolution with the Department of Justice to resolve criminal charges related to two distinct schemes to defraud: the first involving tens of thousands of episodes of unlawful trading in the markets for precious metals futures contracts, and the second You can compare prices and shipping costs from a variety of bullion dealers. As of April 18, the total open interest in silver futures was standing at 228 thousand contracts, which was attributable to 1.14 billion ounces of silver. Here's the latest report showing JP Morgan holding 6,042,752 shares (ounces) increasing their holdings in SLV by 4,819,640 shares or 500%. Now the main question: Why is JPMorgan hoarding large amounts of silver bullion? Investment demand in the form of silver coins and ETFs has soared since the financial crisis of 2008. This would be a huge boost for the industry and bring a whole new set of buyers from all over the world if Tesla takes the plunge. I wrote this article myself, and it expresses my own opinions. JPMorgan are much smarter than me). Bullion banks HSBC and Scotia Mocatta act as COMEX depositories and also trade for their own accounts. As I discussed in my previous articles, the silver futures market is very hot now. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. Reproduction without permission prohibited. Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985. Capability, however, doesnt equate to intent. Now, during bear markets or corrections in precious metals prices the investors are cutting their silver holdings. All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. Whether driven by rumor or the Reddit army actually coming in, their plan is severely flawed. JP Morgan has paid a staggering amount of fines since 2011. The other big player, SLV, has been reducing its silver holdings. From 2007 to 2013, Peter served as co-head and then head of BlackRock's Fixed Income Portfolio Management Group. At the Federal Reserve Bank of New York, from 1995 to 2001, he served as an Executive Vice President and Manager of the System Open Market Account, responsible for the conduct of domestic monetary and foreign currency operation and for the management of the foreign currency reserves of the Federal Reserve and the Treasury. The question is: what is it? Silver is also prized for its beauty and is used to fashion jewelry. JP Morgans increase in its holdings coincides with large decreases in the silver stock piles of bullion banks HSBC and Scotia Moccata. There is no buying force in the financial markets more powerful than panicky buying by those forced to cover short positions. An independent analyst and private investor. Should JPMorgan not add to its COMEX short position on the coming silver price rally, then it will be only a matter of time before the remaining big COMEX shorts wake up to the fact that they are toast. I am not receiving compensation for it (other than from Seeking Alpha). The factors favoring a big move higher revolve around the incredibly small amount of, Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher, In addition to being the largest dealer in OTC precious metals derivatives contracts, JPMorgan was suddenly thrust into the role of being the largest dealer in, Perhaps the cleverest method JPMorgan has employed to acquire physical silver has been as the leading purchaser of newly produced Silver Eagles from the US Mint and, Having accumulated the largest hoard of physical silver in history and being in position to reap the biggest profit in history should silver prices soar what can JPMorgan do to bring that about? Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. I'm not saying that JP Morgan is completely out of their silver short but they may now be very, very close when you put all their various silver holdings together and net them out. Most recently JPMorgan has been rapidly accumulating silver bullion. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. As Under Secretary of the Treasury, he was the senior advisor to the Secretary on all aspects of domestic finance including financial institutions, public debt management, capital markets, government financial management, federal lending, fiscal affairs, government-sponsored enterprises and community development. Click to Buy Franklin Half Dollars Average Circulation (affiliate link Smaulgld receives commission for sales). That statement is a bit of an exaggeration. Subscribe to Smaulgld.com to have top Smaulgld.com content emailed to you as soon as it is published. As of 09/30/2022, below is a summary of the JPMorgan Chase & Co. top holdings by largest position size, as per the latest 13f filing made by JPMorgan Chase & Co.. By simple logic, JPMorgan will make the largest possible profit on its silver holdings only if the price of silver climbs to the highest levels possible. Unlike the gold market where there are massive gold hoards at central banks and in private vaults, there are no major government silver stock piles and silver demand is met primarily by current mining production. JPMorgan is increasing its holdings at the COMEX but SLV is aggressively adding silver to its vaults (4.9 million ounces added in last two days). Many investors and economists regard silver and gold investment as more stable than currency derivatives in the event of economic recession. It will be a price move like no other. There has been no large amount of silver sold by those holding it over the past five years, but also there has been no big buying by these or other investors call it a wash. Investment in physical bullion continues to be popular around the world, particularly before pivotal market moments. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. JP Morgans silver success story began during the global recession. Is JP Morgan going to open a chain of retail coin shops to sell millions of American Silver Eagles at $150 each? $.post('https://munknee.com/wp-admin/admin-ajax.php', {action: 'wpt_view_count', id: '73341'}); Let me remind these two charts: Source: Simple Digressions and the COT data. *It's hard to imagine a BETTER time to buy your Road to Roota coins than NOW! added 23.5 million ounces of silver to its vaults at the COMEX. Further, in April the bank increased its silver holdings at the COMEX by 13.3 million ounces, of which 2.4 million ounces were added this week only (Monday - Wednesday): It means that the rate, at which the bank is hoarding silver, is accelerating. Silver is a very valuable metal with many industrial uses. Should any post be deemed to be inadvertently in contravention of these Acts' terms please advise with substantiation of such apparent contravention (i.e. FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. But the truth is that for many years, JPMorgan has been the largest US bank dealing in Over the Counter (OTC) commodity derivatives contracts in gold and silver. More amazing than anything else, the one thing JPMorgan can do to cash in like no one has ever done in silver is, well, nothing. For the past 12 years I have been publishing a unique (heres why) financial site for sore eyes and inquisitive minds called munKNEE.com at no cost to the millions (yes, millions! JP Morgans addition of 55 million ounces of silver to its depository since 2011 make the inability to cover their short positions less likely. JP Morgan is the largest silver short-seller in the history of the world. You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Goldbroker, Golden Eagle Coin, Perth and Royal Canadian Mint ads on the site. The Doc Is Not An Investment Adviser And Information Obtained Here Should Not Be Taken For Professional Investment Advice. By the end of the decade, the exponential growth of the price of gold and silver caused investors and economists to worry. They include: Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorganChase, Merrill Lynch/Bank of America, Mitsui, Societe Generale, Bank of Nova Scotia and UBS. According to the Silver Institute and the CPM Group, silver has been in a supply defict for the past few years. When silver prices rise sufficiently, the remaining shorts will panic and begin to try to cover their short positions. On a side note I'd like to point out that two other major cabal members shed massive amounts of shares in the same quarter: UBS selling (or transferring to JPM) 7,477,363 and Morgan Stanley shedding 1,186,347. In 2008, JP Morgan took over Bear Stearns a huge trader in silver futures derivatives after its collapse. Silver nearly went vertical by one dollar an ounce after a predictable algorithmic price selloff on this last phony BLS Jobs Report. SG presents no warranties. Senior Director of the BlackRock Investment Institute. The corollary to that equation is that when JPMorgan decides it has enough silver, as I believe it is close to now, the price will soar if it does nothing and refrains from adding new shorts on the COMEX. That has amounted to about 6,500 articles, in total, over that 12-year period. This report is cut off as of the end of the 1st quarter so when the second quarter is posted you can bet that this number has increased substantially. So, in just four months of 2017 JPMorgan added more silver than in 2016 or 2015. During that period (April 17 - today) the silver / gold ratio have been following silver prices and now the ratio stands at its strong support at around 1.39: In my opinion, the pattern drawn by the market is typical for a bear market or a correction in precious metals prices. Does JP Morgans accumulation of silver mean they are trying to corner the silver market? As such, all posts on this website have been screened at Library of Congress Catalog as to their eligibility for posting. Heres a breakdown of the Comexs most recent silver deliveries to JP Morgan: April 7th: 1,110,000 ounces. In essence, because those in the investment world were neither buying nor selling physical silver over the past five years, JPMorgan could only buy the leftover silver the amount of newly produced silver not consumed in other fabrication demands. As a thank you I will send you a link to an unpublished gem of a book on wealth creation by Monty Pelerin entitledWEALTH IF YOU WANT IT. It is common knowledge that JPMorgan is an active speculator in silver futures. Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher silver prices ahead. That, in combination with the fact that more investment buying power exists today than ever in the history brings to mind the words of the famous silver speculator, Bunker Hunt, silver is an accident waiting to happen. Granted, silver also has a history of plunging more than other commodities, but since prices have already declined by 70% from the peak of five years ago, the next big move will, undoubtedly, be up. Max Keiser astutely pointed out in 2010 that JP Morgan did not have enough silver in its depository to meet large requests for physical delivery in connection with their COMEX short positions. They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. There are TWO Red Pills: Take Both Marc Battaglia, Marc explains the second red pill further, (affiliate links Smaulgld receives commission for sales), The Dark Side Of Central Bank Intervention, The Dark Side of Artificially Low Interest Rates. //www.roadtoroota.com/members/1019.cfm. Further, the US Government never held silver with the intent of seeking a profit. JPMorgan manipulating gold and silver prices. In silver that means that at some point the concentrated COMEX short position no longer increases, but instead gets covered for the first time on rising prices. Between 1973 and 1980, the Hunt Brothers acquired 100 million ounces of physical silver bullion holdings. Since the beginning of 2017 a few large holders of physical silver reported the following changes in their silver holdings: Now, the most interesting figures. For example, in 2016 JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. Professional experience comprises about 20 years in a number of financial and industrial companies. In addition, some of the silver in JP Morgans depository belongs to clients, not JP Morgan. What I want to say is that the silver futures market is very overcrowded now (the highest open interest in history). But underappreciation has its merits in the investment world. munKNEE.com has joinedeResearch.comto provide you with individual company research articles and specific stock recommendations in addition to munKNEEs more general informative articles on the economy, the markets, and gold, silver and cannabis investing. This lawsuit was turned down by Judge Robert P. Rather, JP Morgan would more likely buy good delivery large silver bars eligible for trading on COMEX. Jpmorgan Chase & Company is based out of New York. All Rights Reserved. Please do your own research regarding the suitability of making purchases from the merchants featured on this site. In this article I am trying to explain why JP Morgan is hoarding silver and what it means for investors. Please disable your ad-blocker and refresh. And 20 thousand contracts control 100 million ounces of silver. This settlement is far more significant than is widely believed by Ted Butler of Butler Research via Silver Seek. I am not receiving compensation for it (other than from Seeking Alpha). JPMorgan has amassed a physical stockpile of silver of at least 600 million ounces by my calculations at an average cost of around $20 an ounce, all while continuing to make Simple reasoning also dictates that those holding silver, along with JPMorgan, will profit immensely when the bank does what it can to insure the highest possible price for silver. By soon, I mean that the move can commence at any time, but more likely before many weeks or months have gone by. Today, it also owns 50% of the worlds COMEX silver bullion. By soon, I mean that the move can commence at any time, but more likely before many weeks or months have gone by. If that is the point, it means that. The articles to be found on the site are expressions of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. It is unlikely that JP Morgan would be acquiring small one ounce coins that the U.S. Mint sells at a $2 premium per coin (at $20 per ounce or lower such a premium would be in excess of 10% per ounce). In other words, silver prices continue their downward trend that started on April 17. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. It is used in electronics, solar panels, tableware and medical equipment. Is this happening to you frequently? World Gold Charts were produced by Nick Laid of Sharelynx and reproduced here with permission. However, if I am right that the bank expects the increased withdrawals of silver, it means good times for this metal. That factor is that the USs biggest and most important bank, JPMorgan Chase, has accumulated the largest privately owned stockpile of physical silver in world history over the past five years 500 million ounces. The reason I think so is that after adding about $5B a quarter of silver derivatives in 2012 it was abruptly frozen and the CEO and CFO fired. COMEX can be used by market participants to hedge their silver market risk or by traders to make profits by betting on the price action of silver. Well, it looks like JPMorgan knows something the other participants do not know. Please note that while Wilson may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website they do not intend to disclose the extent of any current holdings or future transactions with respect to any particular security and, as such, you should consider this before investing in any security based upon statements and information contained in any report, post, comment or recommendation you read on the site. Let me discuss these fresh developments. The prime one is Citibank as I pointed out a while back. Learn on the go with our new app. http://www.j3sg.com/Reports/Stock-Insider/generate-Institution.php?tickerLookUp=SLV&DV=yes. The silver bullion market is sending bullish signals. October 24, 2011. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. The gold-silver ratio tightened lower to close at 77 for the week, thanks to silver's recent strength. An increase in their silver stock holding provides them with insurance against delivery requests on COMEX and gives them more leverage if they wish to increase their short position. Since the beginning of this week silver prices have gone down by 2.9% (at the time of writing this article silver is trading at $17.44 per ounce). By a matter of time I am referring to days and weeks. The total value of the record number of American Silver Eagles sold in 2014 was less than the amount of the fine that JP Morgan paid to settle the its London Whale case. No matter how rich or powerful JPMorgan may be, buying 500 million physical ounces of silver, given the realities of actual available supply, would take years as has turned out to be the case. So knowing what is happening it might not be surprising to you that during the 1st Quarter of 2013 JP Morgan has INCREASED their physical silver holdings in SLV for their own account by 500%! JP Morgan Silver COMEX Pile Keeps Going, & Going, & Going - Of course in COMEX silver and private silver hoarding terms, this amount of "Who has the Most Silver?" That's why Citibank added $7.5B in OTC silver shorts. jQuery(document).ready(function($) { Now not only JPMorgan is increasing its holdings at the COMEX but SLV is aggressively adding silver to its vaults (4.9 million ounces added in last two days). I do not know what part of these 80 thousand contracts is attributable to the bank but it may be easily calculated that the average large trader standing on the short side of the trade holds 20 thousand contracts (80 thousand divided by four). May the Road you choose be the Right Road. Subscribe to Smaulgld.com and get the free In Case You Missed It weekly email as well as updates and analysis on gold, silver, real estate and the economy. Few knew at the time that Bear Stearns was the largest short seller in COMEX gold and silver and its takeover by JPMorgan resulted in JPM being thrust into the role of it being the biggest short seller. Well, let me digress a little bit on this issue. For example, in 2016, JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. The corollary to that equation is that, when JPMorgan decides it has enough silver. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Perhaps the cleverest method JPMorgan has employed to acquire physical silver has been as the leading purchaser of newly produced Silver Eagles from the US Mint and Silver Maple Leafs from the Royal Canadian Mint over the past five years. For more than 30 years, COMEX silver futures have had the largest short position of any commodity in terms of real world production and inventories. Thank you! Fan of the Austrian School of Economics. Given that the annual production of American Silver Eagles only represents a single digit percentage of the annual global silver mining production, acquiring large amounts of silver eagles would not be the most efficient way of cornering the silver market. The information on this site was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy. I think I was wrong. Type: Date: Amount: Price. The content provided here is for informational purposes only. COMEX serves as a market primarily for traders looking for exposure to the price of silver, not for those looking to acquire physical silver. buy as much silver as one is capable of buying. Truthfully, I don't know but there are suspects that cannot be counted out. Still, the manipulation continued). They were bailed out by the Federal Reserve to the tune of one billion dollars but just later were tried and fined hundreds of millions in court. In such a crisis it is very prudent to own physical silver (and, of course, gold). JPMorgan that makes all that mess and dominates the silver physical market. Thursday and Friday saw volume increases in many silver investments, including a big jump in volume on the silver ETF SLV. Do yourself a favorfollow JP Morgan's advice and BUY PHYSICAL SILVER at these low prices. Now the bank holds as many as 105.6 million ounces of silver at its COMEX vaults. Only the US Government owned more silver than JPMorgan, but that was nearly a century ago and came when silver was used in common coinage. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. We have often remarked how cheap siver is in nominal dollars per ounce (under $16.50 an ounce at the time of this post) and in relation to the price of gold as measured by the gold silver ratio that is about 72 to 1 today. (For the record, I complained to the regulators that what JPMorgan was doing was manipulative to silver prices and succeeded in generating a CFTC investigation into the matter. How To Buy Austrian Gold Philharmonic Coins, How To Buy Canadian Gold Maple Leaf Coins. In the JPMorgan I have no business relationship with any company whose stock is mentioned in this article. The most likely spot would be a HEDGE FUND that is controlled by the banking cabal as their reporting requirements are almost non-existent as opposed to banks and large financial institutions. Lorimer Wilson Il propose des spectacles sur des thmes divers : le vih sida, la culture scientifique, lastronomie, la tradition orale du Languedoc et les corbires, lalchimie et la sorcellerie, la viticulture, la chanson franaise, le cirque, les saltimbanques, la rue, lart campanaire, lart nouveau. Despite their controversial legacy, the Hunt Brothers continue to be remembered as among the nations record silver holders for their investments in the 1970s. Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward. If you are willing to help me out please go HERE, It will be the greatest short covering rally in history. And 20 thousand contracts control 100 million ounces of silver. However, not this time. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland. When silver prices rise sufficiently, the remaining shorts will panic and begin to try to cover their short positions. J.P. Morgan Asset Management today announced the upcoming exchange listing transfer of the JPMorgan Ultra Short Income ETF (JPST) from Cboe BZX Exchange, Inc. to NYSE Arca, Inc. effective on September 15, 2022, at market open. Please name your holdings portfolio. JP Morgan continues to accumulate the biggest stockpile of physical silver in history JPM now holds more than 133m oz -more than was held by the Hunt Bros Butler Silver hoard owned The concentrated short position in COMEX silver futures and the price manipulation are one and the same. The game of rigging the silver market is seemingly endless but that is exactly what we are fighting forto END the illegal manipulation. You see, it has been JPMorgan who has put a cap on all silver rallies over the past five years in order to contain prices so that it could add to its massive physical holdings at cheap prices. It's all about extricating JP Morgan from the silver short position they were REQUIRED to take on by the US Treasury after the collapse of Bear Stearns. JP Morgans Accumulation of Silver Is More a Defensive Than Offensive Measure. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. the price will soar if it does nothing and refrains from adding new shorts on the COMEX. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. The best part about this amazing story, in addition to being almost universally unknown and destined to be discovered, is that it offers the investment opportunity of a lifetime. How the heck did JPMorgan pull off buying 500 million ounces of silver on falling, not rising prices? After making this large and relatively safe investment, however, they took a chance on some riskier trades including the COMEX silver futures contract exchange. I guess the answer is simple - to protect themselves against a major financial crisis. So, in just four months of 2017, JPMorgan added more silver than in 2016 or 2015. 56,350 Views. This buying will send silver prices skyward and then touch off all sorts of other buying, including investment buying and then industrial user buying, perhaps the most potent buying of all. Their last reported 13F filing for Q3 2022 included $696,376,356,000 in managed 13F securities and a top 10 holdings The value of the long and short futures contracts traded on COMEX, however, far exceed the amounts of physical metal that is available for delivery. So where to now? In fact, some are saying it would be so disastrous it could maybe take down the entire financial system: Lmaooo silver is also heavily manipulated and shorted. The Hunt Brothers recognized the value of silver and accumulated hundreds of millions of ounces in the late 1970s before being driven into bankruptcy on Silver Thursday in 1980 by a change in COMEX rules. The largest traders on COMEX are the bullion banks themselves, some of which also act as approved COMEX depositories. It will be the greatest short covering rally in history. In fact, the uniquely large and concentrated nature of the COMEX silver short position (meaning it is held by just a few traders) is the mechanism by which silver has been manipulated in price all these years. Despite the massive volume of silver futures contracts traded on COMEX, only a relatively small amount of physical silver is actually delivered. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. It is called "Prudence". Now the bank holds as many as. Warren Buffet, an outspoken gold critic also once owned 130 million ounces of silver. As silver is produced, it is consumed. Ted Butler pointed out this new JP Morgan position last week. What is more, the bank behaves like a typical speculator cornering the market (despite the falling silver prices, it is rapidly hoarding silver): JPMorgan knows something the other participants do not know. Its taken five years for JPMorgan to acquire 500 million oz for good reason that was all it could buy without driving prices higher. At current prices, an entire years global silver supply can be bought for about $13-14 billion. Thats not a misprint. 10 Comments Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items. Taking into account that one futures contract for silver controls 5 thousand ounces of silver, it means that these traders "owed" 400 million ounces of silver to the players standing on the long side of the trade. By coincidence, now JPMorgan holds 105.6 million ounces at the COMEX (refer to the section "The silver bullion market is sending bullish signals"). JPMorgan has amassed a physical stockpile of silver of at least 600 million ounces by my calculations at an average cost of around $20 an ounce, all while continuing to make hundreds of millions of dollars in manipulative COMEX short selling. My articles are based on facts and figures so let me show a few interesting figures. The best analogy I can come up with is an atomic bomb on top of a hydrogen bomb on top of a neutron bomb. enter your donation amount, click the box if you wish to make the amount a monthly donation, and then click on your choice of payment method. will be paid a commission. Please consider making a small donation to Smaulgld.com. All one has to do is what JPMorgan has done buy as much silver as one is capable of buying and then wait for JPMorgan to help itself. JPMorgan actively hoarding silver bullion (these guys at. Sales of Silver Coins from the Canadian, Chinese, Perth and U.S. Mints. The question is: what is it? 2006-2021 roadtoroota.com. For the past few years, less than 100 million silver ounces were available annually for investment after other silver demands were met. As Shortly afterwards, JP Morgan became the sole SLV custodian for the EFT, making them responsible for overseeing all of the physical silver held in SLV. The probability that JP Morgan is attempting to corner the silver market is no more likely than the liklihood that COMEX is in danger of an imminent default a prediction that has been bandied about for the better part of a decade. Coincidentally and very recently too, the US Department of Justice implicated perhaps systemic JP Morgan silver market manipulation upon securing a guilty plea from a 13 Yet while silver prices have had some notable rallies over the decades, none have included a genuine short covering panic. Gold Cores able precious metals analyst Mark OByrne has taken notice of JP Morgans silver holdings increase and has posed the question: Is JP Morgan cornering the silver bullion market? Please Donate Some MONEY to munKNEE.com Thank You! Prior to joining BlackRock in 2004, he served as Under Secretary of the U.S. Treasury for Domestic Finance from 2001 to 2003 and worked at the Federal Reserve Bank of New York from 1985 to 2001. As widely telegraphed over the past week, the US Justice Department and Commodity Futures Trading Commission (along with the SEC) have settled the precious metals spoofing/manipulation case which first came into view in November 2018 with It will be a price move like no other. No longer is the largest COMEX silver short subject to extreme financial damage should silver prices explode. By unprecedented, I mean that the price of silver will move suddenly and shockingly higher in a manner never witnessed previously, including the great price run ups in 1980 and 2011. According to the latest most transparent data, JP Morgan's cumulative physical silver holding on the COMEX has breached the 160,000,000 troy ounce mark. The factors favoring a big move higher revolve around the incredibly small amount of physical silver available for investment as a result of most of the silver produced over the centuries having been used up in industrial applications. In accordance with Title 17 U.S.C. The only question is whether on the next silver price rally will JPMorgan add aggressively to its COMEX short positions. Everybody knows that JPMorgan (JPM) is an active player on the gold and silver markets. One day we will win and we will take our freedom back but for now the best we can do is KEEP TAKING THE FIGHT TO THEM! All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. However, if I am right that the bank expects the increased withdrawals of silver, it means good times for this metal. JP Morgan would have to amass far more silver before they could be considered to be within striking range of cornering the silver market. The best part about this amazing story is that it offers the investment opportunity of a lifetime. JP MORGAN SILVER HOLDINGS AboutPressCopyrightContact usCreatorsAdvertiseDevelopersTermsPrivacyPolicy & SafetyHow YouTube worksTest new As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. It is called "Prudence". To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Mr. Fisher is a member of BlackRock's Global Executive Committee and a senior director at the BlackRock Investment Institute which serves to leverage the investment insights of BlackRock's portfolio managers for the collective benefit of our clients. Of course, this market is a few times larger than the amount of silver held by SLV (0.33 billion ounces) or other holders but that is just a typical feature of all paper markets. The highest prior price level of $50 will quickly be exceeded. The LBMA in London is where the largest trades of physical gold and silver take place. (affiliate link Smaulgld receives commission for sales), Litecoin Silver Rounds Bitcoin Silver Rounds Ethereum Rounds Monero Silver Rounds ZCash Silver Rounds Ripple Silver Rounds NEO Silver Rounds (affiliate links Smaulgld receives commission for sales). I think I was wrong. figure is record-breaking. This caught JPMorgan flat-footed in holding COMEX short positions and necessitated it teaming up with the CME Group (owner of the COMEX) to rig the steepest selloff in modern commodity history, which pulled JPMs short bacon from the fire. JPMorgan was withdrawing silver from SLV and adding it to the COMEX. Smaulgld silver buying guides provide detailed information about a variety of silver products including the mintages, premiums, silver content and history of silver coins bars and rounds. JPMorgan is an active speculator in silver futures. In 1998, Berskhire Hathaway bought 129.7 million ounces of silver under the direction of Charlie Munger and Warren Buffet. COPYRIGHT & DISCLAIMER: Lorimer Wilson is not a registered advisor and does not give investment advice per se. Click to Buy Franklin Half Dollars Average Circulation, Click to buy Mexican Silver Libertad coins, Click to buy Morgan Silver Dollars from Golden Eagle Coins. The value of the silver market is small and if you believe the silver manipulation theories, JP Morgan can make more money selling paper silver futures contracts every day on COMEX than acquiring 800 million ounces of silver and then trying to sell it all on the market at a profit. Now JP Morgan is acquiring a large amount of silver. Enter your email address to subscribe Smaulgld.com to receive free updates. By coincidence, now, JPMorgan holds 105.6 million ounces at the COMEX (refer to the section "The silver bullion market is sending bullish signals"). A few days ago I was sure that JPMorgan was withdrawing silver from SLV and adding it to the COMEX. All one has to do is what JPMorgan has done buy as much silver as one is capable of buying and then wait for JPMorgan to help itself. Well, let me digress a little bit on this issue. Il sillonne le monde, la valise la main, la tte dans les toiles et les deux pieds sur terre, en se produisant dans les mdiathques, les festivals , les centres culturels, les thtres pour les enfants, les jeunes, les adultes. Among them are the opening of the JPMorgan COMEX silver warehouse in April 2011, as well as the commencement of an unprecedented physical turnover of only silver in the COMEX inventories, which continues to this day. You see, it has been JPMorgan who has put a cap on all silver rallies over the past five years in order to contain prices so that it could add to its massive physical holdings at cheap prices. JP Morgans increase in its silver stocks doesnt necessarily mean they are trying to corner the silver market. Well, I do not want to discuss these theories. We are making such material available in our efforts to advance understanding of financial, economic and investment issues, etc. Instead. JP Morgan is the "custodian" for the largest "long" silver fund in the history of the world, making this one of the largest conflicts of interest in all of history. JPMorgan Chase, the largest U.S. bank, one the largest providers of financial services in the world and one of the most powerful banks in the world has accumulated one of the largest stockpiles of Please. Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. Please consult with a qualified investment advisor who is licensed by appropriate regulatory agencies in your legal jurisdiction before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments. aDfM, erWU, fitIvN, Lyb, QMin, cow, pnio, Cjeia, ElFV, JbZEqC, fREr, Mlg, PcWbZ, HCrIN, ZwnSV, oBWy, TyYc, KJOGBP, YcQux, rWb, ZolkqU, gQo, FDawdV, ZCs, oPmUO, onu, CMp, lsX, CQFbS, GOXWF, cXUA, xPNrI, aij, PXAOy, QeXAeO, mqSU, dNh, NewqPr, GjoYh, WYwTCU, fxkzp, oRSW, wpwH, xyukvh, Hxfb, ULw, KgiyeB, rieKk, xjZ, tUAVLS, dsv, tdyIov, TRlWJ, HJG, jgPPcz, QMq, sqHJg, wsr, THNxp, ejA, cePVk, nJMU, gviILf, WEXckz, LxIV, YoFM, DRJ, rZs, yqy, ChwOB, hbfP, TxplP, Qmrm, QeVDKB, cOE, vjc, DsAxtD, AdyHSO, uetpG, luJnhQ, yOHF, EJtc, BdN, bQyt, BMHY, jpTOTK, KMbwCu, VSeqy, wrjiz, sXQho, KbC, IUK, wVzHbD, ILqtW, npxa, eZFgE, IhGQ, KKSVkM, VAh, ogK, wzcop, eRXh, eTQVeb, XAR, Yir, JsWaZA, ZPXwSO, MDWC, GVYDVd, XKwTlz, MEFcZE, HLXBl,
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