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Thread: Is JP Morgan Trying to Corner the Silver Market?

  1. #1

    Is JP Morgan Trying to Corner the Silver Market?

    Is JP Morgan Trying to Corner the Silver Market?

    That is what silver bug conspiracy theorists are claiming.
    It's not try. Here is why:


    https://smaulgld.com/jp-morgans-silver/
    Attached Thumbnails Attached Thumbnails jpmorgan silver.PNG  
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  3. #2
    It will cost them a ton to get mine.

  4. #3
    depository



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    noun de·pos·i·to·ry \di-ˈpä-zə-ˌtȯr-ē\
    : a place where something is put so that is can be kept safe


    plural de·pos·i·to·ries
    Full Definition of DEPOSITORY

    1
    : depositary 1

    2
    : a place where something is deposited especially for safekeeping

    See depository defined for English-language learners

    See depository defined for kids

    Examples of DEPOSITORY


    • The bank is used as a depository for government funds.
    Words are hard!

  5. #4
    Quote Originally Posted by TheCount View Post
    Words are hard!
    What's the point about depository?
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  6. #5
    Now if somebody was trying to corner the silver market, wouldn't that cause the price to soar like when the Hunt brothers tried it? How is silver doing?

    That is what silver bug conspiracy theorists are claiming.
    (I vote conspiracy theory).


    http://www.kitco.com/scripts/hist_ch...rly_graphs.plx

    What does the chart actually show? Is that shares of silver their customers own on paper? Is it physical silver JP Morgan is storing for them? (A depository institution keeps deposits for others) Is it ounces of silver investors have listed with JP Morgan as being for sale?

    I can't find any explanations.
    Last edited by Zippyjuan; 05-04-2015 at 08:13 PM.

  7. #6
    I think I have found it. It is silver they are storing for clients to use for futures trading.

    http://budgeting.thenest.com/differe...mex-29805.html

    What Is the Difference Between Registered & Eligible Silver Comex?

    Futures contracts, which are agreements to exchange an asset like silver for a set amount of cash, trade on public exchanges. The Commodity Exchange, or Comex, is the subsidiary of the Chicago Mercantile Exchange (CME) that creates and provides trading facilities for several different types of silver futures contracts. The standard Comex silver futures contract specifies the delivery of 5,000 troy ounces of the metal for a predetermined price and time period. The silver is stored and exchanged at one of the CME-authorized depositories scattered throughout the country. Only silver that meets the CME’s exacting standards is eligible for storage in an authorized depository.

    Eligible Silver
    To be eligible for storage in a CME-authorized depository, silver must be 99.9 percent pure. For the standard 5,000-ounce futures contract, the silver must be cast into bars weighing 1,000 troy ounces, give or take 6 percent. Each silver bar must be marked with its weight, purity, a serial number and the brand of the refiner. Only brands officially listed by the CME can be eligible for storage. Should a refiner deliver silver that is below standard, the metal is rejected or sold, and the refiner risks losing its authorization to warehouse silver for Comex futures.

    Registered Silver
    Eligible silver stored at a CME-authorized depository is not available for sale unless it is registered. An owner can register eligible silver deposits by having the depository issue a warrant that certifies the details of ownership. Silver warrants were once printed on paper, but were converted to electronic form in 2011. Not all eligible silver is registered for sale, but all registered silver must first be eligible. Silver owners frequently extend or withdraw registration depending on whether or not they wish to sell their holdings at current prices.

    Silver Futures Contracts
    The Comex offers silver contracts for a fixed number of troy ounces, ranging from “mini” contracts for 1,000 ounces up to the regular 5,000-ounce contract. The terms of the regular silver contract call for physical delivery of the metal during the month following the futures expiration date. The smaller contracts do not involve physical delivery – they are used to bet on silver prices. Purchasers of the regular silver contract can avoid taking delivery by closing, or “offsetting,” their contracts before expiration. A contract purchaser offsets the contract by selling an identical contract -- the two contracts cancel each other out and relieve the trader of further obligation.

    Silver Inventories
    Silver traders and analysts pay keen attention to the amount of silver housed at Comex depositories. Bloomberg publishes daily updates disclosing the Comex silver inventory levels. In February 2013, Bloomberg reported that Comex silver levels stood at just over 160,000 ounces. Futures traders monitor these inventories to help estimate silver price trends. For example, a sudden change in registered silver inventory might presage a new price trend for the metal, causing other silver owners to change the status of their inventories from registered to eligible in order to gauge increased or decreased demand for silver.
    Chart shows amounts of Registered Silver and Eligible Silver they are keeping on deposit for clients. Not silver JP Morgan owns.

    Next question. How significant are these deposits? A threat to "corner the market"? Chart shows 55 million ounces. Just 2013 mining production was over 800 million ounces. https://www.silverinstitute.org/site...er-production/

    According to a link at Zerohedge, all the silver in the world is about 1.4 million tonnes or 49,770 million ounces. http://www.zerohedge.com/news/2013-0...l-silver-world That would mean that JP Morgan is storing one tenth of one percent of the world's silver. To corner the market, they have a ways to go (again noting they don't own the silver shown in the chart).
    Last edited by Zippyjuan; 05-04-2015 at 07:35 PM.

  8. #7
    Quote Originally Posted by Smaulgld View Post
    What's the point about depository?
    It's not their silver.

  9. #8
    COMEX eligible silver is twice what JP Morgan's eligible silver is (interactive chart at link: http://www.24hgold.com/english/inter...codecom=SILVER )

    Currently 112.5 million ounces. Registered silver is 62.1 million ounces at latest figures.

    http://about.ag/futures.htm

    What is in the Warehouses?

    COMEX has several warehouses for metals (see the lists for silver and gold). They contain lots of silver. They had 152.003 million ounces (as of 17 Jan 2013), worth about $3164.70 million. This is split into two categories: Eligible and Registered.

    Eligible silver is silver that is in a COMEX vault and has been determined to meet the COMEX requirements (e.g. minimum fineness and weight, acceptable refiner). Often this is silver that has been purchased by a long (paid in full, not part of a COMEX contract) at some point in the past (that they are currently paying storage fees for). The silver is eligible for delivery at any point that the owner wants. It has been assigned to the owner, who has the serial numbers of their bars. Eventually, it will either be delivered to the owner, or become registered silver. It is the same as silver in any other vault, except that the silver is within the COMEX system (known to meet COMEX requirements).

    Registered silver is silver that is sitting in the COMEX warehouse, and can be used to settle a contract. The warehouse has issued a depository receipt (warrant). Warrants are issued in the name of an Exchange Clearing Member (corporations that handle trades, typically for their customers), not individual traders. When a short needs to settle their contract, the silver they provide the long must be registered. The short can buy it from a bullion bank, convert eligible silver they have, or use silver they they had previously stopped (from a long contract). As of 17 Jan 2013, there were 37.976 million ounces of registered silver (available), worth about $790.66 million and 114.027 million ounces of eligible silver (customer owned) in the COMEX warehouses, worth about $2374.04 million.
    Last edited by Zippyjuan; 05-04-2015 at 07:53 PM.



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  11. #9

  12. #10
    JPM actively fixes the silver market and anyone who has been stacking long enough knows all about it. However, I think this entire conspiracy theory is a load of bull$#@! and is being spread by people desperate to maintain interest in their gold and silver blogs because sentiment has been destroyed.

    Part of the reason sentiment was destroyed is because people keep claiming bull$#@! like this to get people into the market. The funny thing is no one ever wants to admit that as JPM has increased their silver horde the price has continued to crash.

    I think the real explanation is that JPM knows the market is rigged with naked shorts and JPM knows the Fed turns a blind eye because the rigging is beneficial to the USG. In 2011 JPM was on the cusp of taking major, major, major loses with their naked silver shorts and that's why the price was squeezed so hard in April of 2011.

    JPM has actively crashed the price in order to increase their physical horde and cover their naked shorts so that in the event control of the price is lost again they'll be one of the few major bullion banks able to deliver their shorted silver contracts while the other banks go belly up on bad silver bets ala Bear Stearns.

    It doesn't have anything to do with them cornering the market it's all about covering their ass. The don't need to corner the silver market to make money as they make plenty trading on inside information from the Fed.

    Contrary to the gold bugs belief these banks truly don't give a $#@! about gold. They only manipulate it because the USG turns a blind eye to it. That's it, that's all. You should have 10% of your wealth in PMs but nothing more.
    It's just an opinion... man...

  13. #11
    Zippy ALL your points -including the charts above are in the original post. All the research you did re registered and eligible and the size of the silver market are all in the original post. JP Morgan is NOT trying to corner the silver market
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  14. #12
    Quote Originally Posted by Smaulgld View Post
    Zippy ALL your points -including the charts above are in the original post. All the research you did re registered and eligible and the size of the silver market are all in the original post. JP Morgan is NOT trying to corner the silver market
    Sorry, but some people just read the title of a thread and start posting without thought other than to try to ensure the "correct" propaganda be the loudest.
    "When a portion of wealth is transferred from the person who owns it—without his consent and without compensation, and whether by force or by fraud—to anyone who does not own it, then I say that property is violated; that an act of plunder is committed." - Bastiat : The Law

    "nothing evil grows in alcohol" ~ @presence

    "I mean can you imagine what it would be like if firemen acted like police officers? They would only go into a burning house only if there's a 100% chance they won't get any burns. I mean, you've got to fully protect thy self first." ~ juleswin

  15. #13
    Quote Originally Posted by ClydeCoulter View Post
    Sorry, but some people just read the title of a thread and start posting without thought other than to try to ensure the "correct" propaganda be the loudest.
    Zippy makes it a habit of not reading my posts and spent all that time refuting a position I didn't hold! He independently found some of my research
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  16. #14
    Quote Originally Posted by NoOneButPaul View Post
    JPM actively fixes the silver market and anyone who has been stacking long enough knows all about it. However, I think this entire conspiracy theory is a load of bull$#@! and is being spread by people desperate to maintain interest in their gold and silver blogs because sentiment has been destroyed.

    Part of the reason sentiment was destroyed is because people keep claiming bull$#@! like this to get people into the market. The funny thing is no one ever wants to admit that as JPM has increased their silver horde the price has continued to crash.

    I think the real explanation is that JPM knows the market is rigged with naked shorts and JPM knows the Fed turns a blind eye because the rigging is beneficial to the USG. In 2011 JPM was on the cusp of taking major, major, major loses with their naked silver shorts and that's why the price was squeezed so hard in April of 2011.

    JPM has actively crashed the price in order to increase their physical horde and cover their naked shorts so that in the event control of the price is lost again they'll be one of the few major bullion banks able to deliver their shorted silver contracts while the other banks go belly up on bad silver bets ala Bear Stearns.

    It doesn't have anything to do with them cornering the market it's all about covering their ass. The don't need to corner the silver market to make money as they make plenty trading on inside information from the Fed.

    Contrary to the gold bugs belief these banks truly don't give a $#@! about gold. They only manipulate it because the USG turns a blind eye to it. That's it, that's all. You should have 10% of your wealth in PMs but nothing more.
    Since they quit making real money , I have gone more than ten percent.Never been unhappy with that decision.

  17. #15
    Quote Originally Posted by Smaulgld View Post
    Zippy makes it a habit of not reading my posts and spent all that time refuting a position I didn't hold! He independently found some of my research
    If you ever actually put information in your posts instead of blatantly pimping your blog, then people might know what positions you hold.

  18. #16
    So you posted the chart and info to say nothing is happening in the silver market. Very informative. And misleadingly presented to gain clicks.

    No- I don't click on you blog. No need to send traffic your way.
    Last edited by Zippyjuan; 05-05-2015 at 01:41 PM.



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  20. #17
    Zippy glad i didnt state a conclusion- you would have disagreed. Rather it was great watching you recreate part of my blog post to prove my point.
    if you dont read my posts why do you bother commenting on them?
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  21. #18
    Quote Originally Posted by Zippyjuan View Post
    And misleadingly presented to gain clicks.

    What a laugh. If he were misleading, then his user name would not even match his link.

    Why don't you talk about your misleading presence here? How you are not here for academic debate, but rather how you are a progressive simply posting contrary information to so many posts you see.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  22. #19
    Quote Originally Posted by TheCount View Post
    If you ever actually put information in your posts instead of blatantly pimping your blog, then people might know what positions you hold.

    That saying about changing the channel still applies, even in this day and age.

    And you have a lot of gall talking about pimping. You are a progressive making progressive posts, but you still attach the "supporting member" phrase to your profile. Neg rep. Complain about that, pimp.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  23. #20
    If zippy doesn't read the posts why does he comment on them? He went to great lengths to discredit the JP Morgan is cornering the silver market story even though all he did was end up reproducing some charts that i had posted and reproducing a definition of eligible and registered stocks that were also in the original post.
    It is clear that zippy will oppose anything I write or thinks I might have written without reading any of it?
    What is the point of such endless trolling?
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  24. #21
    Quote Originally Posted by Smaulgld View Post
    What is the point of such endless trolling?
    Read the thread below. Start with post #4. If you don't want to read the whole thing, then focus on the posts of ACPTulsa, Lucille, and me. Pretty much sums it up. Zip does not even dispute it.

    Read the whole thread if you want to see some bickering entertainment. LOL.


    http://www.ronpaulforums.com/showthr...69340-Got-Guts
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  25. #22
    Quote Originally Posted by Smaulgld View Post
    Zippy glad i didnt state a conclusion- you would have disagreed. Rather it was great watching you recreate part of my blog post to prove my point.
    if you dont read my posts why do you bother commenting on them?
    That is what silver bug conspiracy theorists are claiming.
    It's not try. Here is why:
    "It is not try and here's why" sure sounded like you agreed they were trying to corner the silver market. So that is what I responded to. It is odd to post what gives the opposite impression of your own conclusions on a subject and then get upset that people react to what was posted here.

  26. #23
    Zippy- you mislead yourself by typing your response without reading the post. If you don't want to read my posts you are free not to. But commenting on the without reading them is an inane waste of time and a sign of incessant trolling.
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  27. #24
    I was unable to fix the "it is not try" as RPF response to my edit was "my edit was not long enough-please try again"
    I was trying to change that to "It is not trying to corner the silver market." Apologies for any confusion caused.

    In any event, Zippy you comment without reading my posts on ALL my threads. WHY?
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  29. #25
    Quote Originally Posted by Smaulgld View Post
    I was unable to fix the "it is not try" as RPF response to my edit was "my edit was not long enough-please try again"
    I was trying to change that to "It is not trying to corner the silver market." Apologies for any confusion caused.
    Thank you for the clarification.

    I read the posts- just not the blog.
    Last edited by Zippyjuan; 05-05-2015 at 11:28 PM.

  30. #26
    Quote Originally Posted by Zippyjuan View Post
    Thank you for the clarification.
    Ah yes, the usual ingratiating "thanks" from Zip. You shill this site with impunity, but then pour on the phony politeness so your behavior goes undetected by many.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  31. #27
    How the hell do people agree that JPM is the chosen agent to squash the price of silver through naked shorting, then turn around on a dime and say that JPM is not trying to corner the silver market? They HAVE cornered the silver market. It has been cornered. That doesn't mean the price will go up, down or sideways, it just means the market has been cornered and JPM is the agent that was used to corner it.

    It has been admitted in a hearing that on any given day 100 times physical is traded on paper.

    Is silver manipulated? Duh. ALL futures trading is manipulated.

    GATA testimony on metals price fixing history:

    The bombshell GATA dropped at the public hearing held by the U.S. Commodity Futures Trading Commission on futures trading in metals was stunning. Video of GATA Chairman Bill Murphy revealing a whistleblower source who warned the CFTC's Enforcement Division about market manipulation by JPMorganChase and witnessed JPM traders bragging of their exploits can be viewed here:

    http://www.youtube.com/watch?v=9wIMpe9SjfQ

    http://www.youtube.com/watch?v=e9bU0r6JP4s

    Murphy explained that even though the Enforcement Division received detailed information about it in December 2009, the manipulation continues unabated, as can be seen by the way gold was taken down last week to rob holders of April gold call options in the strike range of $1,100-$1,150 as the hammering made the options expire worthless.
    The Hunt brothers didn't have the clout to corner the silver market:

    T A K E * *A * *L O O K * *A T * *R E A L * *P O W E R
    A N D * *R E A L * *M A R K E T * *M A N I P U L A T I O N
    Compare the Hunt brothers’ 1980 long position of 100 million ounces with recent short positions held by a small number of banks. A November 2009 CFTC report said just two banks held 68% of all commercial net short positions in silver, and 43% of all commercial net short positions in gold. *
    At the time of the report, seven commercial banks held a combined total of 65,000 open contracts, representing*325 million ounces*of silver (short). *The seven bank combined total is the largest concentration of short contracts in history.

    * In 1997, Warren Buffet (Berkshire Hathaway) had a*long*position*in silver*of about*130 million ounces*- initially at about $4.50 per ounce. *Although Buffet was long 130 million ounces (scheduled to take delivery of March silver contracts), he had also sold July future contracts of silver short. *His silver buying strategy seems to have been more of a paper trade… *However, there is speculation he was compelled to sell his silver delivery contracts because the silver bullion sold for delivery did not exist. *The 130 million ounces had been sold naked short.
    Silver is worth $75/OZ as a rough guesstimate. Buy now or wish you did.

    Except for you, Zippy. You should keep hoarding dollars because the dollar is strong, loss of 10 million US manufacturing jobs is irrelevant and green shoots are tickling our balls as the jobless rate plummets and consumer confidence is on the rise and we can continue indefinitely to borrow a trillion dollars a year to make it all happen.

    Long Live The Bull$#@! Story and Zoloft!

  32. #28
    Quote Originally Posted by Bossobass View Post
    How the hell do people agree that JPM is the chosen agent to squash the price of silver through naked shorting, then turn around on a dime and say that JPM is not trying to corner the silver market? They HAVE cornered the silver market. It has been cornered. That doesn't mean the price will go up, down or sideways, it just means the market has been cornered and JPM is the agent that was used to corner it.

    It has been admitted in a hearing that on any given day 100 times physical is traded on paper.

    Is silver manipulated? Duh. ALL futures trading is manipulated.

    GATA testimony on metals price fixing history:



    The Hunt brothers didn't have the clout to corner the silver market:



    Silver is worth $75/OZ as a rough guesstimate. Buy now or wish you did.

    Except for you, Zippy. You should keep hoarding dollars because the dollar is strong, loss of 10 million US manufacturing jobs is irrelevant and green shoots are tickling our balls as the jobless rate plummets and consumer confidence is on the rise and we can continue indefinitely to borrow a trillion dollars a year to make it all happen.

    Long Live The Bull$#@! Story and Zoloft!
    Correct JPM can manipulate/control the silver market without having to buy 350 million silver eagles. The story that they are 'cornering' the silver market by acquiring silver is preposterous
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  33. #29
    Quote Originally Posted by oyarde View Post
    Since they quit making real money , I have gone more than ten percent.Never been unhappy with that decision.
    Personally i'm at 20% but not too long ago that number was closer to 50%. Franky I just got fed up with all of the bull$#@! from the bugs, and for the record I do consider myself a metals bug but I just got $#@!ing sick and tired of all the denial about price from the pumpers trying to keep subscribers and drive traffic to their blogs by making more and more outrageous claims about the metal and where price was going.

    The greatest lesson i've learned in now almost 10 years of stacking is that the people pumping the metal like GATA and Eric Sprott are just as bad as the people controlling the price.
    It's just an opinion... man...

  34. #30
    Quote Originally Posted by NoOneButPaul View Post
    Personally i'm at 20% but not too long ago that number was closer to 50%. Franky I just got fed up with all of the bull$#@! from the bugs, and for the record I do consider myself a metals bug but I just got $#@!ing sick and tired of all the denial about price from the pumpers trying to keep subscribers and drive traffic to their blogs by making more and more outrageous claims about the metal and where price was going.

    The greatest lesson i've learned in now almost 10 years of stacking is that the people pumping the metal like GATA and Eric Sprott are just as bad as the people controlling the price.
    Agree! the alternative PM media is as full of shucksters as the MSM and many of the followers are no less compliant and gullible than those that follow the MSM. Worse thing is many have the nerve to call those that don't follow the alt media that they do, "sheeple" and like to tout themselves as "awake".

    It's like those dining at burger king mocking those that eat at McDonalds.

    There are plenty of reasons to own PM's without inventing stories of dollar collapse next week, JP Morgan cornering the market, imminent comex default and JP Morgan buying 350 million silver eagles.
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