Is JP Morgan Shifting Its Silver And Gold Shorts To Non-US Domiciled, And Thus Unregulatable, Banks?

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Mon, 12/20/2010 - 23:10 | 820063 Croesus
Mon, 12/20/2010 - 23:46 | 820129 El Hosel
El Hosel's picture

  Anybody now why the Dollar got wacked at 8 eastern?  Futures are bumping the highs, maybe the Bernank got brand new bag?

Tue, 12/21/2010 - 00:00 | 820163 Jasper M
Jasper M's picture

'Cause no war; NK's leader declined to demonstrate his military genius to the capitalist, imperialist aggressors, and all their running dogs. 

Tue, 12/21/2010 - 02:03 | 820367 bonddude
bonddude's picture

He saw the "Team America" spot light shining against the clouds. ;-)

Tue, 12/21/2010 - 00:27 | 820201 Fidel Sarcastro
Fidel Sarcastro's picture

Was wondering the same thing myself and went long - several times - in the 6e (Euro futures).  Picked up a quick-G.  

Tue, 12/21/2010 - 00:32 | 820211 Careless Whisper
Careless Whisper's picture

do these bankers ever do anything on the up-and-up? it's just a matter of time until they get the short squeeze of all short squeezes. now gaga fans are getting on board, and that is a few hundred million people under 25 years old world wide.


Tue, 12/21/2010 - 04:40 | 820447 The Navigator
The Navigator's picture

Fool - silver braces?? - when the times comes, someone gonna rip your teeth out for the metal. Also, Good luck trying to get by TSA. That's no way to transport silver.

Thu, 12/23/2010 - 18:11 | 827058 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

Thanks for sharing this. Hilarious.

Tue, 12/21/2010 - 01:50 | 820348 chopper read
chopper read's picture

a G-note, no big deal.  ;)

Tue, 12/21/2010 - 03:38 | 820422 I Am The Unknow...
I Am The Unknown Comic's picture

Thanks for that link El Hosel.  Man, I miss that kind of talent that James Brown had.  It's a Banksta's World!

Mon, 12/20/2010 - 23:13 | 820066 detersbb
detersbb's picture

What difference does it make when the physical runs out.  They cover their behinds until they can not deliver.  They protect themseves from the CFTC "cough-cough," and they protect themselves from the lawsuits including the RICOs, but it is only going to be until the longs demand delivery from the shorts and they can not deliver then the game is up.

Mon, 12/20/2010 - 23:22 | 820093 Captain Benny
Captain Benny's picture

I'd like to see a lottery winner invest $100,000,000 into silver.  That'd definately put JPM into a bind overnight.

Mon, 12/20/2010 - 23:50 | 820147 SilverIsKing
SilverIsKing's picture

After I win the Megamillions tomorrow night, I promise to invest a sizable portion of my winnings into physical silver.  I might only net $50,000,000 or so but that should help.

Mon, 12/20/2010 - 23:16 | 820067 TheGreatPonzi
TheGreatPonzi's picture

That's exactly what I forecasted on a previous post concerning the end of the silver manipulation.

"Now, they will have to use shell companies to do the job".

Tue, 12/21/2010 - 00:08 | 820172 tmosley
tmosley's picture

Yup.  You can bet mass defaults will proceed the minute JPM and HSBC have offloaded the last of their shorts.

Won't be long now.

Tue, 12/21/2010 - 00:48 | 820252 JLee2027
JLee2027's picture

I wish, but I'm not convinced about that. I hope you're right though.

Tue, 12/21/2010 - 01:59 | 820362 RockyRacoon
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Try to get a good 8 hours of sleep in the interim.

Tue, 12/21/2010 - 00:13 | 820184 JimmyTheHand
JimmyTheHand's picture

I do distinctly remember you making that call TGP. I completely agree, let the defaults roll.

Mon, 12/20/2010 - 23:16 | 820071 living on the edge
living on the edge's picture

JPM has been replaced by the Fed itself as the main gold and silver short. TPTB were not pleased with the recent run up and JPM has been benched.

Tue, 12/21/2010 - 00:23 | 820195 woolly mammoth
woolly mammoth's picture

When I read the piece I thought, bag-holders. Proxies designed to fail. Thinking Real Estate tricks. It just seems the Fed has enough problems without adding silver shorts. But, your probably right.

Tue, 12/21/2010 - 01:58 | 820361 dlmaniac
dlmaniac's picture

Maybe they are setting up phantom Caribean banks to be bag holders so when TSHTF it's the phantom guys hold the hot potatos. I don't know. That sounds too easy to get off.

Tue, 12/21/2010 - 09:26 | 820559 Arius
Arius's picture

sounds like a plan...its supposed to be easy; these guys dont care what u and i think about it as long as it is legal; and if it is not lets change the laws and make it legal. Voila!

Mon, 12/20/2010 - 23:17 | 820075 Segestan
Segestan's picture

The mining industry needs to take a page out of OPECs book and sell through a network... cut the parasites out.

Mon, 12/20/2010 - 23:56 | 820159 breezer1
breezer1's picture

restricting sales would work except that most funds and who knows how many stocks are shorted and naked shorted. there is so much fiat at the disposal of tptb that the perception is easy to feed to those that don't know whats going on other than whats on the front page of the msm.

 there is a day coming when only physical will matter. the spot price will be as meaningless as the politicians and their criminal banker bosses.

merry Christmas to all.

Tue, 12/21/2010 - 01:28 | 820310 Segestan
Segestan's picture

I don't know, FOFOA and Bix Weir say like you. But without a collective association working to Free Gold it's all in the favor of the crooks.

Merry Christmas

Mon, 12/20/2010 - 23:17 | 820076 Slash
Slash's picture

fair, efficient, balanced markets at work......nothing to see!


Big Mother is watching.

Mon, 12/20/2010 - 23:16 | 820077 f16hoser
f16hoser's picture

Final act of a dying FIAT currency economy. Hold the line.....

Mon, 12/20/2010 - 23:18 | 820078 unwashedmass
unwashedmass's picture

does this matter now? let them short themselves silly....i, for one, will gratefully accept any opportunity to purchase silver lower....hell, dream of my life would be they take it to 25 and the 100k i just pulled out of the market would go into hard silver bullion in a heartbeat....which i would take delivery of and sock away in the old safety deposit.

At this point, i think we should all stop whining about what these guys are doing -- they are suiciding out, kamakaizing....

let them do it, and let them throw out cheap silver bullion all the way into the heart of implosion......

Mon, 12/20/2010 - 23:20 | 820084 Captain Benny
Captain Benny's picture

I'll be quadrupling my personal silver investments over the coming two months if silver holds steady.  I'll be doubling my gold holdings as well.  I'm not in it for returns,  I'm in it for capital preservation and a lingering hope that JPM will be forced to fail one day.

Mon, 12/20/2010 - 23:25 | 820099 living on the edge
living on the edge's picture

Look for a desperate act such as a massive take down to shake out gold and silver. This could be our final chance to buy at lower prices. I have been hoping/expecting this.

Mon, 12/20/2010 - 23:29 | 820110 JLee2027
JLee2027's picture

Only in your dreams will that happen. It would collapse the physical market in a week and the crooks would be heading up river real quick.

Mon, 12/20/2010 - 23:54 | 820153 living on the edge
living on the edge's picture

Perhaps you are right and it is a dream, but perhaps these idiots are more desperate than we can imagine and are willing to try anything to forestall the inevitable.

Mon, 12/20/2010 - 23:57 | 820160 VegasBD
VegasBD's picture

Same here. Would really like one more opportunity to grab some physical silver below $20/oz before it blows up

Tue, 12/21/2010 - 00:06 | 820170 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Below $20??? hahahah, good luck.  We see $100 before we see $20 again.

Tue, 12/21/2010 - 01:00 | 820269 DoChenRollingBearing
DoChenRollingBearing's picture

The Bearing, not having a brain in the middle, just a hole, just mindlessly buys PMs as income rolls in in.  Just bought some gold and silver today.  Been buying silver for years, gold for decades.

Tue, 12/21/2010 - 08:54 | 820522 RockyRacoon
RockyRacoon's picture

Doug Cass sees a $250 drop in gold within the next few weeks or first month of 2012.

That's my contrary indicator.  He could be right, of course.  If so, I'll relish the idea of picking up some more at a reduced rate.  I'm selling off all the silver generic rounds and art bars to build up some cash for possible buy-in at a nice price.  I've got about 120 rounds/bars so I can either buy some cheaper gold, or, worst case I'll have cash to stash.

Tue, 12/21/2010 - 05:26 | 820461 Sudden Debt
Sudden Debt's picture

JP's problem isn't just demand that's picking up but also the inflation that doesn't really exist according to Bernanke:

  • Unleaded gas up 24%
  • Heating Oil up 28%
  • Corn up 50%
  • Wheat up 48%
  • Coffee up 56%
  • Sugar up 27%
  • Soybeans up 30%
  • Beef up 26%
  • Pork up 22%
  • Cotton up 101%
  • Copper up 33%
  • Silver up 72%
Tue, 12/21/2010 - 01:00 | 820270 JLee2027
JLee2027's picture

If the paper pushers drop the price to $19, only the stupid would sell physical for that. Look at 2008...paper silver went to $9, physical demand went through the roof and jumped over $20. 

Bottom line, it's a bull market, if your waiting for a better price under $20, good luck because you'll need it. A lot of it. Really a lot. Like winning the lottery odds.

Tue, 12/21/2010 - 01:23 | 820305 LowProfile
LowProfile's picture

Low 20's isn't out of the question.  Gold has done 9-12% corrections over the past couple years, no reason silver can't double those swings.

If you can't handle the volatility, you may want to hedge...

Tue, 12/21/2010 - 03:44 | 820426 JLee2027
JLee2027's picture

This isn't yesteryear. The system is coming apart and demand for precious metals has zoomed.

It's not going in the low 20's ever again. I'd bet my life on it.

Tue, 12/21/2010 - 01:54 | 820357 barkster
barkster's picture

I remember that. I bought silver eagles when silver was at $9.50. There was so much demand for physical that premiums skyrocketed to $5.50 each so I had to pay 15 usd per eagle. Nothing but a paper manipulation...

Tue, 12/21/2010 - 06:35 | 820476 fiftybagger
fiftybagger's picture

Yes, I remember that very well.  Cheapest I got the morning it touched 8.50 was buffalos for 12.50.  Picked up a bunch of maples at 14 and my 2009 koalas cost me 14.30.


Buying Silver

Tue, 12/21/2010 - 01:55 | 820358 barkster
barkster's picture


Tue, 12/21/2010 - 05:25 | 820458 Sudden Debt
Sudden Debt's picture

JP's enemy isn't only the demand for silver that's picking up, but also inflation that doesn't really exist according to Bernanke:


  • Unleaded gas up 24%
  • Heating Oil up 28%
  • Corn up 50%
  • Wheat up 48%
  • Coffee up 56%
  • Sugar up 27%
  • Soybeans up 30%
  • Beef up 26%
  • Pork up 22%
  • Cotton up 101%
  • Copper up 33%
  • Silver up 72%
Tue, 12/21/2010 - 08:52 | 820518 Widowmaker
Widowmaker's picture

It's not inflation if you don't look.

Only terrorists will look for truth.

Tue, 12/21/2010 - 10:17 | 820646 Ace Ventura
Ace Ventura's picture

Bingo. By the way, isn't the whole 'net neutrality' thing being sorted out today on capitol hill?

The peasants are sure getting all uppity with this mostly unrestricted free-flow of information. Time to redesignate them as 'terrorists' or 'anti-gubment radical insurgents', and start controlling just what sort of info the 'useless eaters' have access to.


Mon, 12/20/2010 - 23:33 | 820115 Captain Benny
Captain Benny's picture

I'm a believer that we'll see a dramatic physical shortage come March, 2011.  I think we'll also see a great buying opportunity before that as the Fed lets the air out of the equities markets  (finally!).  The US equities are disgustingly overbought and all indicators say its purely digital hot potatoe as we're all aware.  When the stock bubble pops is when I'll commit my remaining ammunition.  It'll happen long before March.

Mon, 12/20/2010 - 23:57 | 820161 living on the edge
living on the edge's picture

Ditto on the March 2011 time frame. I expect a dip between now and then.

Tue, 12/21/2010 - 00:11 | 820179 DaveyJones
DaveyJones's picture

the u.s. equities are disgustingly overbought...just like the u.s. politicians

Tue, 12/21/2010 - 00:37 | 820222 Careless Whisper
Careless Whisper's picture

coal and oil have very bullish charts. weak dolla. inflation soon.

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