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JP Morgan has acquired 645 million ounces of physical silver. . .

derrybderryb Posts: 36,196 ✭✭✭✭✭
edited January 13, 2018 12:42PM in Precious Metals

while simultaneously being the largest short seller in COMEX silver futures for the entire time since it acquired Bear Stearns in early 2008.

"How legitimate is it that a large financial entity could sell short massive quantities of paper derivatives contracts which result in lower prices, and then use those lower prices to accumulate silver on the cheap? It couldn’t possibly be legitimate and that makes JPMorgan a market crook and manipulator. It also makes the federal regulator, the CFTC, and the self-regulating CME Group, incompetent, corrupt, or both. This takes a special kind of market manipulator, one most likely operating under some type of agreement with the regulators."

Coho, what's your definition of manipulation?

Keep an open mind, or get financially repressed -Zoltan Pozsar

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    2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭

    seems like a win-win for the big boys

    WTB... errors, New Orleans gold, and circulated 20th key date coins!
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    derrybderryb Posts: 36,196 ✭✭✭✭✭

    Sure would like to know their timeline for cashing in.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    cohodkcohodk Posts: 18,621 ✭✭✭✭✭

    Sweet

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    mqqnmqqn Posts: 3 ✭

    Did I read that correctly, eg. that JPM bought 100 million silver eagles from the US Mint in the 2013/2014 time frame and then melted them into 1000oz bars?

    I am still trying to wrap my head around how shorting silver derivitives contracts would drive the cost of silver down while they were synchronously purchasing millions of ounces.

    Interesting - and I am interested in seeing the discussion that should follow in this thread, particularly in regards to what people here think JPM is up to, and are they evenually going to manipulate the price up to start selling, etc.

    best

    mqqn (Andy)

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    derrybderryb Posts: 36,196 ✭✭✭✭✭
    edited January 13, 2018 8:55PM

    Spot price is set by futures prices . . . physical silver is priced at a premium over spot. JPM is using its shorts to keep the futures price down while at the same time buying up physical at the low price. The fact that JPM is also taking delivery on its long futures contracts indicates they want to be long physical silver. Why would that be?

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    BobSavBobSav Posts: 913 ✭✭✭

    @2ltdjorn said:
    seems like a win-win for the big boys

    Isn't that always the case ??
    Bob

    Past transactions with:
    Lordmarcovan, WTCG, YogiBerraFan, Phoenin21, LindeDad, Coll3ctor, blue594, robkoll, Mike Dixon, BloodMan, Flakthat and others.
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    carew4mecarew4me Posts: 3,464 ✭✭✭✭
    edited January 14, 2018 8:11AM

    yet no other "big boys" are doing this? hmmmmm...
    Stackers thrive on this type of red meat so Butler provides it.

    so over 1/2 of the 170 Million ASE minted from 2012-2015 are now 1000 ounce bars... I would actually like that (if true)


    Loves me some shiny!
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    OPAOPA Posts: 17,104 ✭✭✭✭✭

    A lot of speculation on the part of Butler... Article taken with a "grain of salt" by me. "If it is on the Internet it must be true."

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    rickoricko Posts: 98,724 ✭✭✭✭✭

    Stack silver now.... the big run up is coming.... ;) Cheers, RickO

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    VanHalenVanHalen Posts: 3,807 ✭✭✭✭✭

    @ricko said:
    Stack silver now.... the big run up is coming.... ;) Cheers, RickO

    Run up or run down? A significant move above $20 or below $15 is coming. But when!

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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭

    @mqqn said:
    Did I read that correctly, eg. that JPM bought 100 million silver eagles from the US Mint in the 2013/2014 time frame and then melted them into 1000oz bars?

    I am still trying to wrap my head around how shorting silver derivitives contracts would drive the cost of silver down while they were synchronously purchasing millions of ounces.

    Interesting - and I am interested in seeing the discussion that should follow in this thread, particularly in regards to what people here think JPM is up to, and are they evenually going to manipulate the price up to start selling, etc.

    best

    mqqn (Andy)

    AFAIK, JPM is not an AP so I don't know if the mint would sell to them. That would if true be more than the number struck [42.6 million in 2013 and 44 million in 2014] for those 2 years. It would be financial idiocy to pay $2 over spot for something and then convert it to something worth less.

    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,837 ✭✭✭✭✭

    Buy, sell, trade. They do it well. Maybe they will give APMEX and MCM a run for their money.

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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭

    @TwoSides2aCoin said:
    Buy, sell, trade. They do it well. Maybe they will give APMEX and MCM a run for their money.

    Can't wait for their warehouse sale.

    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    BobSavBobSav Posts: 913 ✭✭✭

    @carew4me said:
    yet no other "big boys" are doing this? hmmmmm...
    Stackers thrive on this type of red meat so Butler provides it.

    so over 1/2 of the 170 Million ASE minted from 2012-2015 are now 1000 ounce bars... I would actually like that (if true)

    Does anyone have more solid info to back this whole claim up ?
    Bob

    Past transactions with:
    Lordmarcovan, WTCG, YogiBerraFan, Phoenin21, LindeDad, Coll3ctor, blue594, robkoll, Mike Dixon, BloodMan, Flakthat and others.
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    Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    :) !!!

    Timbuk3
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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭

    At a nominal weight of 44,000 pounds per truckload, it would take 1005 semis to haul that much silver.

    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    aclocoacloco Posts: 952 ✭✭✭

    .....AND....have to stack the product!!!

    Successful BST transactions with: jp84, WaterSport, Stupid, tychojoe, Swampboy, dragon, Jkramer, savoyspecial, ajaan, tyedye, ProofCollection, Broadstruck x2, TwinTurbo, lordmarcovan, devious, bumanchu, AUandAG, Collectorcoins (2x), staircoins, messydesk, illini420, nolawyer (10x & counting), peaceman, bruggs, agentjim007, ElmerFusterpuck, WinLoseWin, RR, WaterSports, KeyLargRareCoins, LindeDad, Flatwoods, cucamongacoin, grote15, UtahCoin, NewParadigm, smokincoin, sawyerjosh x3
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    derrybderryb Posts: 36,196 ✭✭✭✭✭

    @acloco said:
    .....AND....have to stack the product!!!

    In the world's largest vault

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    VanHalenVanHalen Posts: 3,807 ✭✭✭✭✭

    @derryb said:

    @acloco said:
    .....AND....have to stack the product!!!

    In the world's largest vault

    Bank of England is said to be the second largest in the world (behind the NY Fed). Gold deposits in 2017 were released as 142,000,000,000 pounds-sterling. And they even allow pictures!

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    ashelandasheland Posts: 22,685 ✭✭✭✭✭

    @BAJJERFAN said:
    At a nominal weight of 44,000 pounds per truckload, it would take 1005 semis to haul that much silver.

    That’s a STACK! :D

    My YouTube Channel

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    BAJJERFANBAJJERFAN Posts: 30,987 ✭✭✭✭✭

    @asheland said:

    @BAJJERFAN said:
    At a nominal weight of 44,000 pounds per truckload, it would take 1005 semis to haul that much silver.

    That’s a STACK! :D

    Got mine beat for sure.

    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    KkathylKkathyl Posts: 3,762 ✭✭✭✭✭
    edited January 15, 2018 3:35PM

    I recall getting audit statement requests about my hedges when dear old JP Morgan was doubling up the other way to cover a billion Euro blunder. I would of been put in stripes if I followed those fools. It is a joke when you hear of the fines that our government puts on these banks. And all you need is 10% of what you hedge in an account. And the funds don't even have to be available. It just ridiculous what you can get away with if you fund the proper Puppet. Don't get me started.

    http://www.businessinsider.com/r-us-court-says-jpmorgan-must-live-with-15-billion-paperwork-error-2015-1
    https://seekingalpha.com/article/214885-atpg-and-jpm-whats-a-half-billion-dollar-math-error-among-friends
    http://abcnews.go.com/Business/jpmorgan-chase-2b-trading-loss-roils-markets/story?id=16326205

    Best place to buy !
    Bronze Associate member

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    shorecollshorecoll Posts: 5,445 ✭✭✭✭✭

    I will say it again, never play chicken with people who use denominations like $B. Go fight the Fed, they play with $Ts.

    ANA-LM, NBS, EAC
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    BobSavBobSav Posts: 913 ✭✭✭

    @VanHalen said:

    @derryb said:

    @acloco said:
    .....AND....have to stack the product!!!

    In the world's largest vault

    Bank of England is said to be the second largest in the world (behind the NY Fed). Gold deposits in 2017 were released as 142,000,000,000 pounds-sterling. And they even allow pictures!

    In this day of Photoshop, photos are meaningless unless there is a way to verify them 100%..
    JMHO
    Bob

    Past transactions with:
    Lordmarcovan, WTCG, YogiBerraFan, Phoenin21, LindeDad, Coll3ctor, blue594, robkoll, Mike Dixon, BloodMan, Flakthat and others.
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