Max Keiser's Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His "Silver Squeeze" Thoughts

Tyler Durden's picture

As Zero Hedge readers know, the reason why the US mint sold a record amount of silver American Eagle coins in November is unlikely a coincidence, and very possibly an indication that the recently disclosed plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP Morgan is working: to wit, if every person buys an ounce of silver, JP Morgan and its massive synthetic silver short position, will have no choice by the cover, face unprecedented margin calls, and possible lead to an end for the New York Fed's favorite bank. Today, Keiser goes mainstream, detailing his thoughts in The Guardian, which courtesy of its massive circulation is sure to reach far more readers to whom this idea is new. To keep a track of how well this plan is working, we suggest readers check in with the US mint, which frequently updates the amount of silver American Eagles sold on its website (link). The full Guardian article is below.

Want JP Morgan to crash? Buy silver, published in The Guardian

The campaign to buy silver and force JP Morgan into bankruptcy could work, because of the liabilities accrued by its short-selling

For decades, the world's banking system has been on a fiat currency
standard that has led to banks that are "too big to fail". They have
overreached their remit of providing loans and have leeched into the
political system, using our money to change the political agenda in ways
that boost bank management's compensation over the interests of their
depositors.

Over the past 11 years, the Gata (Gold Anti-Trust Action) committee has worked to reveal
the silver/gold price suppression scheme; thanks to whistleblower
Andrew Maguire in London, an investigation has been opened. As part of
the ongoing exposé, it has now become clear
that JP Morgan is sitting on what is estimated to be 3.3bn ounce
"short" position in silver (which they have sold short, meaning they
don't own it to begin with) in an attempt to keep the price artificially
low in order to keep the relative appeal of the dollar and other fiat currencies high. The potential liability for JP Morgan has been an open secret for a few years.

On my show, Keiser Report, I recently invited Michael Krieger, a regular contributor of Zero Hedge
(the WikiLeaks of finance). We posited that if 5% of the world's
population each bought a one-ounce coin of silver, JP Morgan would be
forced to cover their shorts – an estimated $1.5tn liability – against
their market capital of $150bn, and the company would therefore go
bankrupt. A few days later, I suggested on the Alex Jones show that he
launch a "Google bomb" with the key phrase "crash jp morgan buy silver".

Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.

Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver
on a wholesale level is drying up. The most important indicator is the
price itself – holding just under a 30-year high. With each uptick JP
Morgan gets closer to going bust or requiring a bailout.

Here's
how the campaign works: wealth tied to a fiat currency is easily
overwhelmed by wealth tied to silver and gold. And the world is waking
up to the fact that they have the ability, without government assistance
or other interference, to create a new precious metals-based backed
currency system by simply converting their fiat paper into real money.

This
campaign has 100% chance of working; it falls into the category of a
self-fulfilling prophecy. As more individuals buy silver and gold, all
attempts to replenish the system with more paper money will only cause
the purchasing power of the silver and gold to increase – thus prompting
more people to buy more. Any attempts to bail out JP Morgan would have
the same effect. If the US Fed was to flood the system with bailout
money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management),
more inflation will ensue and the price of silver and gold will rise
more, triggering more purchases. A virtuous circle is born.

If
anyone is interested in helping to crash JP Morgan, buy silver. In the
end, it's about transferring wealth back to the people from where it
came.

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Sudden Debt's picture

the longuer it takes, the more I buy.

 

dlmaniac's picture

Maybe we could get WikiLeak into the play as well. Tell Assange to leak out how much gold (and/or tungsten) is there in Fort Knox in his next release.

Rahm's picture

Not sure I like the comparison... do we really want Interpol to issue an international red notice on Tyler?

GoinFawr's picture

Why would they? Does Marla have a couple of broken condoms on hand?

qrad's picture

don't forget to pledge your deliveries at http://standfordelivery.com

UGrev's picture

127,513 pledged troy oz for delivery.. ok, I'm one of the "little people" ..so that seems like a tremendous amount of silver; and there are 29 days to go.. rock on vigilante's! 

jus_lite_reading's picture

The higher these fraudulent markets get pumped with my tax money, the more silver and gold I will buy. I thought for sure my gold/silver buying days were over but I guess not. I'll take silver to the moon if need be.

I'll make my pledge and stick to it.

ZeroPower's picture

Its cute when plebeians think they can do something. 

hugovanderbubble's picture

why arent hedge funds  attacking short JPM and other banks with net derivatives books exposure?

 

 

Vendetta's picture

they are under orders not to apparently

NotApplicable's picture

Orders involving threats that they will be short-squeezed to death by the infinitely deep pockets of Brian Sack (et al.), would be my guess.

If they can make Uncle Warren turn loose of his silver play, they can easily handle a few hedge funds. They can either "Play ball!" or find themselves targeted for destruction.

And there's always the threat of regulatory witch hunts.

dnarby's picture

And there's always the threat of regulatory witch hunts.

Hard to do that when they're outside your jurisdiction.

mark mchugh's picture

I think it's because HF's have a vested interest in keeping people in paper.  Once you make the decision to hold real money, you don't need a parasite sucking 2 and 20 anymore, do you?  In other words: survival.

dnarby's picture

But if you see the ship is going down, it makes sense to be the first rat off, yes?

RockyRacoon's picture

Not if you're fattening yourself on grain deep in the hold.

Rahm's picture

Because if JPM goes under, most Hedge Funds will as well.  It will remake the entire financial industry, as it's more intertwined than the fibers on your #550 paracord.

Jean Valjean's picture

Have you heard of the mafia.  Or the Police.  They just don't do that if they want to "stick around".

midtowng's picture

They might be. I'm sure you've noticed how the price of silver is jumping upwards recently.

mark mchugh's picture

SD,

You're so right!  The nieces and nephews will be getting silver Eagles fo Xmas this year, but I've still got a retail trading account I've completely stopped using open. 

So if JP survives this round and pushes prices down again, I'll gladly turn more of my monopoly money into cold, hard cash.

Your move, JP.

cossack55's picture

The mint just announce the America the Beautiful 5 oz coins (5 different) originally to be minted 100k each, will be available to the same distro system as the ASEs 6 Dec with a premium of $9.75 each.  Only available on secondary market and mintage numbers now 27 k to 33k each. OOps. ran out of silver?

Quintus's picture

Be aware though that the Guardian is the house magazine for socialists and those who honestly believe that "Other people's money" is an infinite resource.

 

Have a look at the readers' comments below the article.  Hilarious.  Many along the lines of 'But if we close down JPM won't the poor workers lose their jobs" and "Why would I want Silver?  I can't eat it." 

cossack55's picture

New comment:

 

I've been buying Morgan dollars to add insult to hopefully lethal injury.

dlmaniac's picture

Reminds me of the funny comment a while ago, "Maxed out my Chase credit card on buying silver coins to chase Morgan out of silver business."

Bow Tie's picture

a good laugh out of the comments. do i smell a SAVE JP Morgan campaign in the works? :D those stupid turdballs...

it aint paranoia if they really are out too harm you's picture

That was a time delay joke for me.  I read it and laughed 2 mintues later.  I'm finding my intellect (and sarcasm) may not be up to par for this website.  Morgan, got it.

goldsaver's picture

Dont worry about it... I had to read your comment to get the joke. Not enough coffee yet.

BigJim's picture

Everybody please go to the Grauniad (sic) website, create a login, and then counter the progressives' moronic objections. I can no longer do so - my fingers have been worn down to stubs.

Arius's picture

Quintus - if you were Blythe wouldnt you do some damage control...have a PR firm hire a couple of people to write some comments...the first comment there is too clever to just be off the mill and so on...

-- a conspiratorial mind

midtowng's picture

So you are saying don't listen to the Guardian because they are socialists? Perhaps you suggest we listen to CNBC because they are capitalists?

shushup's picture

I would like to see JPM go under.

They are a bunch of underhanded, dirty bastards over there and deserve pay back.

truont's picture

We cannot take JPM down because the bank has FED backing--it is the handmaiden of the Federal Reserve.  However, we can make JPM even more insolvent than they already are.  We need to get rid of mark-to-fantasy accounting and force JPM to recognize their depraved insolvency officially on their books.  Thank CONgress for the suspension of mark-to-market accounting at the TBTFs....   :(

However, Max's campaign has merit because:  1) We can make JPM even more insolvent, and 2) We can preserve our purchasing power by buying silver bullion.  Both goals make sense.

Eternal Student's picture

Correct. While you can't bankrupt an already insolvent Bank, you can force the Fed to "print" up another Trillion. That's one less bullet in Bernake's arsenal. Even Bernake is subservient to the Bond Markets, and not the other way around.

The goal here is to cost JPM a lot of money.

And the sooner this corruption collapses, the sooner we'll be able to rebuild.

SilverIsKing's picture

Are they now settling silver contracts for cash at COMEX?

http://harveyorgan.blogspot.com/

Jean Valjean's picture

I've heard they settle them in SLV.  Pretty much the same thing.

SilverRhino's picture

Looks like they bought a LOT of stand for delivery contracts off with something.   (And it wasn't silver based on delivery notices)

Cognitive Dissonance's picture

An anecdote that might be interesting.

I've been pounding away at all my clients to please, please, pretty please purchase some physical Gold and Silver for at least the last 5 years. Over the past 3 weeks, 5 clients have come in requesting distributions to do precisely that. And we're talking 5 to 10% of assets, not a few thousand dollars.

People are beginning to understand that the insanity isn't going away anytime soon and in fact might get worse. When I used phrases such as "America has become the new USSR" a few years ago, it would have raised objections among my clients. No longer. And my clients are overall very conservative.

Arius's picture

yup game over....there was another guy talking about his father, a mutual fund manager asking to invest 20% of his assets on PM...they could fight/beat the poor gold/silver bugs but not the masses ...there is no actual PM to do that...the only question is: is it now or few months from now?

earnyermoney's picture

I have some physical PM but am not sure what percentage of current assets need to convert. Any guidance?

Cognitive Dissonance's picture

Nothing specific. But consider this.

You aren't buying Silver or Gold as an investment. Your doing so to convert some of your rapidly devaluing Federal Reserve Notes into an alternative currency. It helps to see PM's like you would heating oil in the northeast. If you have a 5,000 gallon tank in the back yard and you recognize that the dollar is being slowly destroyed along with all other paper currencies, would you consider filling the tank to the brim now and then keeping it topped off as you use it?

Thus today you have converted some of your FRN's to a commodity that will always retain some value when it's possible the value of the paper currency might drop by 50% or more. Since you continue to top it off, most of the oil is not there for present consumption but simply as an alternative store of value for the future.

This idea works with anything "real" such as land, office buildings or homes/apartments. If you knew without a doubt that your dollars would be worth 50% less in 5 years, what percentage would you convert today? Since you don't know this for certain, how much should you convert as a hedge?

The key is to stop looking at it as an investment and start looking it as an alternative store of value.

WineSorbet's picture

zero hedge(the wikileaks of finance)

 

Becareful Tyler!  No more free speech for you!

scratch_and_sniff's picture

Sexual smears, the last bastion of the utterly desparate and despicable.

Calmyourself's picture

Roman pled guilty, fled prior to sentencing.

Chump's picture

And Mr. Keiser might want to watch his back also, else he find himself inadvertently suicided.

Pegasus Muse's picture

Let's get something started.  I'm sending this piece to everyone in my address book. 

swissinv's picture

Do we wanna post the Keiser silver bomb shit every time when the silver price is up? How about some hedge funds asset allocation insides?

Jason T's picture

Get it from the source .. buy direct from the miners.  Stave those parasites.