From Business: Find out how Chase can help you with checking, savings, mobile banking, and more. Gold and silver; Political, Dollar, USA; It's nice to talk about. So why has JP Morgan been allowed to buy at these levels, obviously cornering the market? Gold and silver are higher in dollar terms this week after the sharp falls seen in stock markets and in the dollar after the poor GDP number sent shivers through markets globally. Why only a single buyer? GoldSeek Radio Nugget -- Bill Murphy: Up, up and away, for Gold and Silver Silver rally stops TD Securities out of tactical short. So why has JP Morgan been allowed to buy at these levels, obviously cornering the market? while suppressing the silver price with its unlimited access to free money, according to Butler. Incredibly, in the last 3 years their COMEX silver stockpile has increased tenfold and is now over 55 million ounces (see chart below). Conclusion Gold recovered after an almost 2 percent drop yesterday when stop loss orders were triggered in a brutal sell. 5. Deposit products provided by JPMorgan Chase Bank, N.A. Platinum; Gold vs. Click here to order Sribd. Dimon warned that the trigger for the next crisis may not be the same trigger as the last one but there will be another crisis. Gold vs. Some things never change there will be another crisis, and its impact will be felt by the financial market. #SilverSqueeze: The Greatest Short Squeeze in History? Silver was up 0.6 percent at $16.23 an ounce and platinum fell 0.29 percent at $1,137.49 an ounce. "The worst of the market volatility is behind us and both stocks and bonds look . Watching @worstall execute @richardjmurphy is like watching a very, very clever cat slowly killing at ataxic mouse. Heres a breakdown of the Comexs recent physical silver deliveries to JP Morgan: This is a huge bout of deliveries in a very short space of time. 1-Hour|24-Hour| more.. Live Gold Charts Legendary silver analyst Ted Butler believes JP Morgan are in a position to corner silver market In particular, J.P. Morgan has accumulated a mass hoard that is 10 times the size of the stash attempted by the Hunt Brothers before they were forced by authorities to . Heres a breakdown of the Comexs recent physical silver deliveries to JP Morgan: This is a huge bout of deliveries in a very short space of time. Where people were fiddling the fix by a couple of basis points to favour their own futures positions? First thing you ask yourself. Regulatory authorities increased margins which saw silver prices fall and the trade go against them. Silver Short Selling; Actual Silver Price . JPMorgan Chase Chairman and CEO Jamie Dimon in his recent letter to shareholders warned. Twelve Ways Gold Is Different Than Silver; The Gold Silver Ratio. In Asia overnight, Singapore gold prices were flat and inched down 0.1 percent to $1,182.50 an ounce near the end of day trading. The sell off was blamed on the better than expected employment figures but the scale of the losses were more than would have been expected especially given that the data has been very negative this week especially the poor GDP number. Gold fell 1.76 percent or $21.20 and closed at $1,182.80 an ounce yesterday, while silver slid 2.48 percent or $0.41 closing at $16.12 an ounce. If its like Libor then its a cent at most out, and either way on any particular day. Sounds scary, and relatively easy to prove, given the electronic fingerprints. But the thing never gets mentioned, you can only do this in a thin market. Home > Manipulation and Fractional Gold > JP Morgan Cornering Silver Bullion Market. Performance of Precious Metals in 2020 (USD). The Fed at their policy meeting this week said that the health of the economy is dependent on the jobs market and inflation data. On August 23rd, the SLV closed at $17.61 . GoldCore continue to believe that silver will surpass its non-inflation adjusted high $50 per ounce in the coming years. JP Morgan has been acquiring this vast hoard of physical silver while holding the largest short position in the silver futures market, i.e. In 2011, they had little or no physical silver. phrenzy said: Pirocco said: phrenzy said: Your email address will not be published. MARKET UPDATE: Today's AM LBMA Gold Price was USD 1,179.00, EUR 1,049.24 and GBP 771.04 per ounce. Full disclaimer and disclosure on conflict of interests. It seems likely that a major event is imminent in the markets and demand for physical gold and silver will likely soon surge again. London Paul, Gold Losing Some Zip but Buyers Grabbing Each Dip. one seventh of a basis point on average. GoldCore continue to believe that silver will surpass its non-inflation adjusted high $50 per ounce in the coming years. There will also be no ability to store cash or bullion in their safe deposit boxes. It seems likely. A short corner on the gold market at $1700 and now a long corner many of hundreds of dollars lower. In 2011, JP Morgan has little or no physical silver. It's one of those things that's been on the investment boards for ages. Moreover, spoofing tends to cause the price to oscillate in these small magnitudes, rather than moving up (or down) and staying at (distorted) levels for an appreciable period of time. At the time the Hunt brothers were believed to have acquired futures contracts worth one third of total annual global mine supply on leverage. This is hard to know but seems increasingly likely. The Dow. Your email address will not be published. 1-Hour|24-Hour| more.. Canadian Dollar Silver Charts by Mark O'Byrne. When JP Morgan chooses to exploit this advantage remains to be seen. By 2012, they had acquired 5 million ounces of silver bullion. The Fed at their policy meeting this week said that the health of the economy is dependent on the jobs market and inflation data. It is like chess - spend most of your time strategizing the next move. There will also be no ability to store cash or bullion in their safe deposit boxes. Live Silver Charts Anyone know more about this case? Instead placing orders with an expectation they would be cancelled. This is something we have been warning of for some time as we believe the U.S. recovery is far more fragile than is realised. The Texas oil-tycoons tried to corner the silver market by accumulating a massive silver futures position. JP Morgan, however, seems to realise the value of owning physical silver bullion today. The total JP Morgan silver stockpile has increased dramatically in the last four years. Where you have a volume of buys & sells going through the market will keep correcting the variance the spoof has caused because there will always be bids & offers waiting at various levels, Your email address will not be published. Two current and one former precious metals traders at JPMorgan Chase have been charged with manipulating futures markets in what prosecutors described as a massive, multi-year conspiracy run out of the bank. In the last two weeks JP Morgan Chase has accumulated more than eight million ounces of physical silver. Indeed, we believe that silver will surpass its inflation adjusted high or real record high of over $150 per ounce in the next 5 to 7 years. Either JPM is the luckiest trading entity in history or they are exerting undue control on the gold (and silver market). Some things never change there will be another crisis, and its impact will be felt by the financial market. 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 silver the world has ever seen. In fact, JP Morgan may currently hold far more than their official figure of 55 million ounces. Had they been in a position to meet the margin call the outcome may have been quite different. The story has become the stuff of legend in the annals of precious metals trading and indeed trading. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997),so-called bubbles (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc. The preference for silver instead of gold may be explained by the current depressed prices. Is that what this is? The Analysis And Discussion Provided On Silverdoctors Is For Your Education And Entertainment Only, It Is Not Recommended For Trading Purposes. May 1, 2015 01:30 PM . JP Morgan Chase, the largest US bank, one the largest providers of financial services in the world and one . Joined: May 24, 2011 Messages: 4,915 Likes Received: 161 Trophy Points: 63 Location: EUSSR. Annual global silver production is 820 million ounces which, if Butler is correct, puts JP Morgan in a position to corner the physical silver market today, unlike the Hunt brothers back in 1980. FORUM. It gradually rose in price before a blow off spike to $48.70 in January 1980. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997),so-called bubbles (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc. Todays AM LBMA Gold Price was USD 1,179.00, EUR 1,049.24 and GBP 771.04 per ounce. Schectman and I dig into this issue and other anomalies in the market." It gradually rose in price before a blow off spike to $48.70 in January 1980. - 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 Set to soar to over $50 again. In 2011, JP Morgan has little or no physical silver. If the spoof is on the bid side then the spoofers have to be unloading. Gold & Silver Prices in . JP Morgan Cornering Silver Bullion Market? Heres a breakdown of the Comexs recent physical silver deliveries to JP Morgan: This is a huge bout of deliveries in a very short space of time. It seems clear JP Morgan anticipates strong demand for physical silver in the not too distant future either due to another crisis or purely due to the tiny size of the physical silver market and very favourable supply demand dynamics. In particular, JP Morgan has accumulated a mass hoard that is 10 times the size of the stash attempted by the Hunt Brothers before they were forced by authorities to stop purchasing. 1-Hour|24-Hour| more.. LivePalladiumCharts By 2012, they had acquired 5 million ounces of silver bullion. Heretofore in similar circumstances demand has been dampened by institutions dumping contracts for massive volumes of silver, paper or electronic silver, onto the futures markets. while suppressing the silver price with its unlimited access to free money. Wheres the stock supposed to be going? 1-Hour|24-Hour| more.. - 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 ." Too bad no one bothered to ask by what authority that might have been, nor who would be subject to such orders. He is the undisputed King of the Internet Pedants and Lord of the Unnecessary Snark. Butler believes the true figure to be closer to 350 million ounces. Gold and silver are higher in dollar terms this week after the sharp falls seen in stock markets and in the dollar after the poor GDP number sent shivers through markets globally. Interest rates remaining near record lows for longer than had been anticipated should be bullish for gold and silver. "By virtue of the authority vested in me by the Silver Purchase Act of 1934 and of all other authority vested in me, . Click here to order iBook Be prepared for the trading day, Futures Research. The fundamental reasons for our very bullish outlook on silver is due to continuing and increasing global macroeconomic, systemic, geopolitical and monetary risks; silvers historic role as money and a store of value; the declining and very small supply of silver; significant industrial demand and most importantly significant and increasing investment demand including from the largest bank in America. Click here to order Kindle Mark O'Byrne. Silver was up 0.6 percent at $16.23 an ounce and platinum fell 0.29 percent at $1,137.49 an ounce. Chase Bank. Japanese manufacturing activity contracted in April for the first time in almost a year as domestic orders and output fell, adding to fears that QE has failed and the large Japanese economy is on the verge of another recession or depression. - Why is JP Morgan accumulating the biggest stockpile of physical silver in history? Its such a large amount, that it even creates a spike on the long-term chart of JP Morgans silver stockpile. Feat. In 2011, JP Morgan has little or no physical silver. However, it doesnt even rise to the few basis points level in terms of impact. JP Morgan's massive silver buying brings to mind the Hunt Brothers' attempt to corner the silver market in the late 1970s. The Texas oil-tycoons tried to corner the silver market by accumulating a massive silver futures position. Silver is no longer regarded as a good investment and it is only owned by a small minority of hard money advocates and bullion buyers who realise its importance as a hedging instrument and a safe haven, store of value asset. Will banks take their thumb off the electronic silver market and allow prices to rise in the near future? Had they accumulated physical silver rather than paper silver in the form of futures contracts, as JP Morgan are doing, the Hunts would likely have made an absolute fortune. J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment . The weaker than expected GDP number suggests that the Fed will be slower to increase interest rates than was previously expected. Which corrects the price. 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 silver the world has ever seen. Its such a large amount, that it even creates a spike on the long-term chart of JP Morgans silver stockpile (see chart). JP Morgan Chase, the largest US 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 silver the world has ever seen. More and more stories are appearing about the possibility that JP Morgan has been acquiring a massive amount of silver.Is it true? The Doc Is Not An Investment Adviser And Information Obtained Here Should Not Be Taken For Professional Investment Advice. We Do Not Share In Your Profits, And Thus Will Not Take Responsibility For Your Losses As Well. 1-Hour|24-Hour| more.. LivePlatinumCharts Silver is currently trading at just over $16 per ounce. If you consider each COMEX silver contract is for 5,000 troy ounces or 156kg, that is 90m oz or about 2,800 tonne of silver! Indeed, silver may surpass its inflation-adjusted high of over $150 per ounce in the next 5 to 7 years. Required fields are marked *. In Europe in late morning trading gold bullion was off 0.34 percent at $1,180.44 an ounce. In this article I am trying to explain why JP Morgan is hoarding . Silver in USD 10 Years (Thomson Reuters). In Europe in late morning trading gold bullion was off 0.34 percent at $1,180.44 an ounce. By 2012, they had acquired 5 million ounces of silver . Ive not been paying attention to this as I regarded it all as just another conspiracy take. Indeed, we believe that silver will surpass its inflation adjusted high or real record high of over $150 per ounce in the next 5 to 7 years. Dimon warned that the trigger for the next crisis may not be the same trigger as the last one but there will be another crisis. 2011, they had little or none. Interest rates remaining near record lows for longer than had been anticipated should be bullish for gold and silver. Pirocco Well-Known Member. The total JP Morgan silver stockpile has increased dramatically in the last four years. Is JP Morgan accumulating silver at these depressed levels in anticipation of geopolitical and financial turmoil? JP Morgan has been acquiring this vast hoard of physical silver while holding the largest short position in the silver futures market, i.e. Before their buying on the COMEX, silver traded at $6 an ounce. In the last 3 years, their silver stockpile has increased tenfold and is now over 55 million ounces; in the last few weeks they have accumulated more than 8 million ounces of physical silver. By 2012, they had acquired 5 million ounces of silver bullion. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of SilverSeek.com, Silver Seek LLC, is strictly prohibited. JP Morgan Chase. JP Morgan has accumulated another 8.3 million ounces of silver in just the past 2 weeks alone. Annual global silver production is 820 million ounces which, if Butler is correct, puts JP Morgan in a position to corner the physical silver market today, unlike the Hunt brothers back in 1980. This is a huge amount in a short space of time. Heretofore in similar circumstances demand has been dampened by institutions dumping contracts for massive volumes of silver, paper or electronic silver, onto the futures markets. Before their buying on the COMEX, silver traded at $6 an ounce. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997),so-called bubbles (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc. In the last two weeks JP Morgan Chase has accumulated more than eight million ounces of physical silver. The preference for silver instead of gold may be explained by the current depressed prices. As this would equate to a holding 42.7% of total annual supply. The fundamental reasons for our very bullish outlook on silver is due to continuing and increasing global macroeconomic, systemic, geopolitical and monetary risks; silvers historic role as money and a store of value; the declining and very small supply of silver; significant industrial demand and most importantly significant and increasing investment demand including from the largest bank in America. 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 silver the world has ever seen. 1-Hour|24-Hour| more.. Live US Dollar Index Charts Yesterdays U.S. jobless claims were at their lowest level in fifteen years at 262,000 below analysts consensus of 288,000. Articles . 1-Hour|24-Hour| more.. LiveEuro Silver Charts Annual global silver production is 820 million ounces which, if Butler is correct, puts JP Morgan in a position to corner the physical silver market today, unlike the Hunt brothers back in 1980. Its one of those things thats been on the investment boards for ages. Cornering the Silver Market Andy Schectman, President of Miles Franklin, rejoins the show to discuss the obvious out of whack conditions that are hitting the silver market. . 10. JP Morgan may be holding as much as 350 million ounces of physical silver 374 Central Ave. Jersey City, NJ 07307. Why Silver Price 'Should Resume Upwards Path - 27th Nov 22 After This Holiday Stock Market Rally, You Better Know When To Walk Away - 27th Nov 22 US Bond Market and Gol d - 27th Nov 22 Todays AM LBMA Gold Price was USD 1,179.00, EUR 1,049.24 and GBP 771.04 per ounce. Incredibly, in the last 3 years their COMEX silver stockpile has increased tenfold and is now over 55 million ounces (see chart below). Your email address will not be published. Schectman and I dig into this issue and other anomalies in the market. Precious metals look the most undervalued of all the asset classes particularlysilver. The sell off was blamed on the better than expected employment figures but the scale of the losses were more than would have been expected especially given that the data has been very negative this week especially the poor GDP number. Is JP Morgan accumulating silver at these depressed levels in anticipation of geopolitical and financial turmoil? Yesterdays AM LBMA Gold Price was USD 1,204.80, EUR 1,075.99 and GBP 779.73 per ounce. The Hunts faced losses of $1.7 billion and a widespread panic on Wall Street was averted when a consortium of U.S. banks bailed out the main brokerage firm involved. Oh man. The Texas oil-tycoons tried to corner the silver market by accumulating a massive silver futures position. Silver Supply and Demand 2014; Suspected Silver Manipulation. Mark O'Byrne is executive director of Ireland-basedGoldCore. Yesterdays AM LBMA Gold Price was USD 1,204.80, EUR 1,075.99 and GBP 779.73 per ounce. . Important Guide: 7 Key Gold and Silver Storage Must Haves. In Asia overnight,Singapore gold prices were flat and inched down 0.1 percent to $1,182.50 an ounce near the end of day trading. In the last two weeks JP Morgan Chase has accumulated more than eight million ounces of physical silver. Silver is no longer regarded as a good investment and it is only owned by a small minority of hard money advocates and bullion buyers who realise its importance as a hedging instrument and a safe haven, store of value asset. The fundamental reasons for a bullish outlook on silver are: continuing (increasing) global macroeconomic, systemic, geopolitical and monetary risks; silvers historic role as money and a store of value; the small and declining supply of silver; significant industrial demand; and, most importantly, significant and increasing investment demand, including from the largest bank in America. Butler believes the true figure to be closer to 350 million ounces. OPEN NOW. Yet another fine example of screen trading. Or are we talking about something more like Libor? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This Fast-Track Learning section of video and audio presentations is an easy way to gain knowledge about the precious metals industry and enable you to make well-informed decisions about diversifying your portfolio and maximizing wealth preservation. Yesterday's AM LBMA Gold Price was USD 1,204.80, EUR 1,075.99 and GBP 779.73 per ounce. At the same time, JP Morgan Chase restricted the use of cash for selected markets and went so far as to restrict clients from using cash for credit card payments, mortgages, equity lines and auto loans. The story has become the stuff of legend in the annals of precious metals trading and indeed trading. However, the veracity of some of the jobs numbers remains in doubt with some analysts concerned that figures are being hedonically adjusted and manipulated. JP Morgan Chase. This seems increasingly likely. JPMorgan Chase cornering silver bullion market? In no event shall SilverSeek.com, Silver Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein. In the Sarao (Hound of Hounslow) case from a few years back, the governments own expert found that his spoofing trades moved the market . SilverSeek.com continues to lead and connect the silver investor community with up-to-date information on the silver markets providing visitors with live silver prices, covering and analyzing the silver mining and exploration companies, discussing silver as money and related topics. Visit our Fast-Track Learning YouTube playlist, Click here to order audio CD It seems likely. Had they been in a position to meet the margin call the outcome may have been quite different. Based upon COT and Bank Participation Reports data, last December 4, JPMorgan had a net short position in COMEX gold futures of approximately 75,000 contracts. The total JP Morgan silver stockpile has increased dramatically in the last 4 years. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. Will banks take their thumb off the electronic silver market and allow prices to rise in the near future? Required fields are marked *. Ive written several blog posts and an article in The Hill criticizing the US governments obsession with this conduct. JP Morgan has been acquiring this vast hoard of physical silver while holding the . Breaking Gold and Silver News and Research Here. When they failed to meet a $100 million margin call they were almost completely wiped out. Silver at $16 today Set to soar to over $50 again. Gold recovered after an almost 2 percent drop yesterday when stop loss orders were triggered in a brutal sell. Apparently Essay Mills Must Be Made Illegal, Why Oxfam Can Go Boil Their Heads Over Vaccine Patents, The real point about climate change is how cheap the solution is, The excellent Tim Worstall- The Register, Tim Worstall is a darn good economist- Don Boudreaux, Tim Worstall, you pendant- Polly Toynbee, .more sensible than most right wing nutjob bloggersBob Piper. Page 2 of 2 < Prev 1 2. Anyone who was offering to pay the bid-side is worried that the market is going up, instead of waiting to see if someone trades with them they pay the offer price. Will banks take their thumb off the electronic silver market and allow prices to rise in the near future? Silver is currently trading at just over $16 per ounce. Indeed, they are likely to reverse their leverage short positions and also go long in the silver futures market in order to maximise profits. Actually, you know, the Maori van bugger off. ZeroHedge opines that "JP Morgan is now intent on cornering the copper market, as the monopolist firm stretches its FRBNY-facilitated muscles in an attempt to stem the massive losses incurred via . Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. Had they accumulated physical silver rather than paper silver in the form of futures contracts, as JP Morgan are doing, the Hunts would likely have made an absolute fortune. Classic is you want to sell at the offer. Silver is currently trading at just over $16 per ounce, but it will likely surpass its high of $50 per ounce in the coming years. 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