JP Morgan Dimon MastersThe past few years of silver smashing has been all about letting JP Morgan extract themselves from that Silver short hot potato. That’s why the CFTC has not filed charges against them (yet) for silver manipulation. That’s why the banking cabal has sat on the price of silver this whole time. That’s why Citibank added $7.5B in OTC silver shorts. That’s why sentiment in the silver market has never been worse.
It’s all about extricating JP Morgan from the silver short position they were likely REQUIRED to take on by the US Treasury after the collapse of Bear Stearns.

So knowing what is happening it might not be surprising to you that during the 1st Quarter of 2013 JP Morgan has INCREASED their physical silver holdings in SLV for their own account by 500%!

Silver Buffalo Rounds As Low As
$.99 Over Spot At SDBullion!

 

Submitted by Bix Weir:

The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. Here’s the latest report showing JP Morgan holding 6,042,752 shares (ounces) increasing their holdings in SLV by 4,819,640 shares or 500%.

http://www.j3sg.com/Reports/Stock-Insider/generate-Institution.php?tickerLookUp=SLV&DV=yes

This report is cut off as of the end of the 1st quarter so when the second quarter is posted you can bet that this number has increased substantially. On a side note I’d like to point out that two other major cabal members shed massive amounts of shares in the same quarter: UBS selling (or transferring to JPM) 7,477,363 and Morgan Stanley shedding 1,186,347. Both are playing the opposite side of the trade to control the price as the cabal trades back and forth to each other.

I’m not saying that JP Morgan is completely out of their silver short but they may now be very, very close when you put all their various silver holdings together and net them out.

So WHERE IS THE SHORT NOW?!

Truthfully, I don’t know but there are suspects that cannot be counted out. The prime one is Citibank as I pointed out a while back.

ALERT: Silver Short Hot Potato Being Passed Again
http://www.roadtoroota.com/members/1019.cfm

But I believe that plan was stopped as soon as it was noticed by the Good Guys that the Citibank silver derivative book had ballooned. The reason I think so is that after adding about $5B a quarter of silver derivatives in 2012 it was abruptly frozen and the CEO and CFO fired.

So where to now? The most likely spot would be a HEDGE FUND that is controlled by the banking cabal as their reporting requirements are almost non-existent as opposed to banks and large financial institutions.

Obviously, BlackRock would be the leading candidate as it is the largest and currently has full control of SLV as it’s legal Sponsor. They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. Here’s his bio:

http://www.blackrock.com/corporate/en-us/about-us/leadership/peter-fisher

Senior Managing Director Senior Director of the BlackRock Investment Institute

Mr. Fisher is a member of BlackRock’s Global Executive Committee and a senior director at the BlackRock Investment Institute which serves to leverage the investment insights of BlackRock’s portfolio managers for the collective benefit of our clients.

From 2007 to 2013, Peter served as co-head and then head of BlackRock’s Fixed Income Portfolio Management Group. From 2005 to 2007 he served as Chairman of BlackRock Asia. Prior to joining BlackRock in 2004, he served as Under Secretary of the U.S. Treasury for Domestic Finance from 2001 to 2003 and worked at the Federal Reserve Bank of New York from 1985 to 2001.

As Under Secretary of the Treasury, he was the senior advisor to the Secretary on all aspects of domestic finance including financial institutions, public debt management, capital markets, government financial management, federal lending, fiscal affairs, government-sponsored enterprises and community development. He served on the board of the Securities Investor Protection Corporation and as a member of the Airline Transportation Stabilization Board and also as the Treasury representative to the Pension Benefit Guaranty Corporation.

At the Federal Reserve Bank of New York, from 1995 to 2001, he served as an Executive Vice President and Manager of the System Open Market Account, responsible for the conduct of domestic monetary and foreign currency operation and for the management of the foreign currency reserves of the Federal Reserve and the Treasury. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland.

Mr. Fisher’s other current responsibilities include serving as a member of the Strategic Advisory Committee at Agence France Trésor, the FDIC’s Advisory Committee on Systemic Resolution, the IMF’s Financial Institutions Consultative Group and the Google Investment Advisory Committee.

Mr. Fisher is a recipient of the Distinguished Service Award from The Bond Market Association (2004), the Alexander Hamilton Medal from the United States Department of the Treasury (2003), and the Postmaster General’s Partnership for Progress Award, United States Postal Service (2002).

Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985.

END

The game of rigging the silver market is seemingly endless but that is exactly what we are fighting for…to END the illegal manipulation.

One day we will win and we will take our freedom back but for now the best we can do is KEEP TAKING THE FIGHT TO THEM!

Do yourself a favor…follow JP Morgan’s advice and BUY PHYSICAL SILVER at these low prices.

Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward.

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.com

 

Harveyorgan

    • @Doc Hey Doc, it appears JPM’s OI for June has them not only out of Gold, but they”re net negative 88,000+ oz!  Thought you could dig upbetter juice on this?  The source I learned this from was:  harveyorgan.blogspot.com. dated yesterday, June 17th.  I wonder what this leads to, and how it may be related to the sudden shift of interest from gold to silver holdings?

  1. You all are familiar with the game of musical chairs, you know, when the music stops, you flop down in the nearest empty chair and the one without a chair is out of the game.  Well, in the silver manipulation game, the situation is a teeeeeeeny bid different.  There are  a limited number of silver manipulators, but the room is filled with empty chairs.  The end result is that there will NEVER be a manipulator that loses…sorry.  Its just the way it is in 2013 America.
    For me, I’ll still accumulate silver.  Its just what I do…

  2. This makes me wonder if those SLV shares will be pawned off for settlement of futures and options.  They’ve GOT NO METAL to speak of and they’re a whisker from default, so this appears like a ‘reasonable substitute’ for the gullible goofballs who actually think SLV has any silver in their inaccessible, un-auditable secret ‘vaults’.

    • Yes, it appears JPM is simply increasing their ability to control and distort silver prices through this vehicle, much like the GLD massive liquidation helped to crush gold in mid April. I wouldn’t be surprised by anything at this point.
       
      Calling these Banksters frauds is being much too kind. Anyone buying these crooked and dishonest ETFs deserves to lose all their money anyway. But I’m sure Adam Hamilton will tell you these quasi ponzis are supporting the gold and silver price. LOL…

    • Good thought, Pat.  Yes, it IS likely that they will pawn off GLD and SLV shares on the unwary and in much the same way as bank depositors receive worthless shares in a failing bank in exchange for their stolen deposits.  Of course, if those depositors really wanted shares in these banks, they would withdraw the funds and buy them on their own.
       
      On a somewhat different subject… has anyone set up and run a bank in the US that was not based on the fractional reserve banking model?  I am curious as to whether or not anyone has tried full reserve banking.  One would think that some conservative bankers who really know how banking should be run would try this and do pretty well with it.  Their own capital would be loaned out at interest while the deposits would be immediately available for cashing checks and delivering cash to any depositors who request it.  Since they are risking their own capital on loans, they would be pretty darned careful about to whom they loaned their money… unlike when they loan OUR money.
       
       

    • I think more likely they’ll arbitrage the SLV to physical silver and deliver against shorts (basically the same thing but instead of pawning off the paper they’ll utilize their ability as an Authorized Participant to convert 50,000 ounces of shares to 50,000 ounces of physical.  All the silver sits in vaults that would certainly be suitable for delivery vs. futures contracts.
       
      Interesting when browsing over the weekend, did you know that if owners of 75% of SLV shares were to decide that they wanted to terminate the trust they’d have the power to do so?  Wild.

  3. I look forward to more fables today about some nebulous chinese conglomeration of shadow organizations acting for the chinese government waiting to bust the comex, while the comex itself is ready to imminently default, and that premiums are through the roof so in fact some of my silver isn’t worth 50% less than I paid for it.
     
    I may as well start drinking too, because you need to be drunk to believe the BS. In the meantime I’ll keep staking the smack which is 2 yeard and counting, against the best bets of the brightest minds. Please, let’s have the crash.

    • Take a look at the silver price charts between about 1985 and 2000.  That’s about a 15 year period of time when silver prices drifted between about $5-8.  Meanwhile the stock market was up by what, 900%?  PMs are great as financial insurance but they can have long periods of flat and / or falling prices.  One of the reasons for this is that many people only seem to want to own them when everything else is falling through the floor.  Currently, that’s not happening, so many of the people who would be buying PMs to protect their wealth from a crashing stock market remain in the market or in cash.  PMs sometimes make some very explosive moves to the upside at such times when the stock market and / or the US dollar are doing poorly.  Of course, if more Americans knew what was really going on with the US dollar, things would be FAR more interesting about now.
       

    • For sure man. There are endless ways seemingly it could go bad. It to me at least is becoming more evident  (as to many here ) that this charade may be far from over. JPM had a huge position in SLV, are custodians of much of the metal out there, they have full visibility of positions, they have control of short and long ends.
       And the final punchline? They are doing this as an agent of the US government.
       
      So.. where does that leave us? Like I keep saying, short of a crash, or a supply shock it leaves us diddling our peckers in the corner.

    • Your spot on, but I would rather have a safe (three, actually) full of silver, than full of those green pieces of zilch with president’s pics on them….

  4. Hmmm.   Question.  If holders of GLD with 100,000 shares or more can redeem them for physical gold from GLD, can large holders of SLV call for delivery of physical silver in redemption of SLV shares
    JPM’s gold vaults are being depleted.  How are their silver stocks?   If I was with JPM and wanted to acquire a few MOZ of silver on the cheap,  I’d buy SLV and when silver doubled, I’d call for delivery.  Even if the price of silver did not increase appreciably, having silver in a time when shortages abound, this could or would be a good backdoor means to acquire this metal
    Does this compute?

    • Precisely. They have several options to mess with the market owning SLV.. Just like the big boys cashing in their GLD for gold, and the media reporting on gold shiiting the bed.
       
      They got us by the short and curlies 8 ways to sunday.

    • 50,000 SLV shares will qualify you for delivery.  I thought when it first came out you could cash inas little as 1000 shares.  For a comie bar?  Probably too many people were wanting bars so they raised it out of reach for the average Joe. 
       
      Crooks, all of them…

    • Yes, this functionality is available.  The more likely trade is arbitrage between the SLV and a futures exchange that share similar vaults.  Tonight buy SLV at $20.88 and at the same time sell futures at $21.58 and you just made 70c per ounce.  Convert your SLV to physical and make delivery vs your short june position and you just closed out your positions.  You keep the 70c less any fees incurred.  Not bad for a risk free trade.
       
      Since I don’t trade metals as a profession and will likely never have the personal $ to execute this trade, I’ve not studied this close enough to know the vaults where the SLV holdings are and whether they correspond to CME or London, but the functionality of SLV basket redemption was created to allow SLV price to track with futures price without active management… in order to do so there needs to be an arbitrage function that will reward people for executing (otherwise SLV shares could drop to zero and futures prices could still be $21)

  5. Thought so CDL  
    One thing that ocurred to me is that the boyz at JPM no doubt have their paid staff checking every bit of data, posts, blogs and opinion makers related to our world of phyzz.  We give them great intel and don’t conceal our intentions, motives and even a good idea of our overall stack sizes, thus providing them with resources to manipulate and harm us. 
     This is a treasure trove bonanza of details that helps them craft  their strategies .  Sun Tsu would have some words of advice for us to help us in our quest.  I have not idea of how to counter this except to stop any leakage  of our intentions.  But that’s a non-starter.  We occupy the moral high ground.  Abandoning that position, even if we make clear our intentions, would be cowardly.  So, here we are, convenient targets.  Oh well.  We always get to chose our battles. Some chose us.

    • In thinking to myself that it is likely the bullion banks wash trading back and forth with eachother with free fed money this morning while reading the thread about “who is the mysterious long in silver on the comex” it occurred to me that this feels like watching a professional wrestling match, and we are falling for the narrative.
      The criminal banksters and govt are pros, and they won’t go down without a fight. I think in some effect we’re being played in the stacking community. Like liberals in need of a savior or good news. Meanwhile, business as usual. LOL.

  6. JPM looks like they’re well positioned to make a pretty penny if the market happens to go up…  Hum, it’s almost like they know something…???
    They took the Longs’ money over the last few years, now it’s time to take the Shorts.  Oh, and that will happen right before Oct 8th, by the way…
    Run!  The storms a fast approach`in. 

    • JPM is not playing to make paper profits, their moves go much deeper than fiat trades.
      Do they make trading profits today?  I am sure they do, but it’s not the goal.
      These guys have every trick in the book, more than we can imagine.  My guess is we have not seen anything yet, just wait until they feel like a crazed animal cornered,  it will get crazy.
       
       

    • It’s ALL about the money.  Taking it from the people walking through the door of the worlds biggest casino.  You just gotta know what table to sit at…

    • JPM is not all-powerful. Look at what happened with the London Whale.
      If the big banks are leaving the comex for other exchanges that could spell trouble ahead for comex, they could be figuring:
      1) If they are long they will not get paid because the counter party is bankrupt (no unlimited credit like JPM et al).
      2) If they are short they will have to pay up

  7. Just remember this.  Gold and Silver will be the last rocket to the moon, when the other markets all fall at once.  We’re waiting for the final scene.  The Fat Lady…  Be patient and buy as much as you can, while you still can.

    • But we can’t know for sure they will all fall at once, and if the dow/dollar goes last then we would have made a much larger profit holding that until closer to the end. Nobody in this room will corner the market in gold/silver when we move into it. Gold/silver may be the safest hedge out there against counter-party risk, but the last 2 years it sure has been like paying for a REALLY expensive insurance when nothing happened. @Canadian Dirtlump seems one of the few in here who will admit we have been wrong during the last couple of years and it has been very costly and all speech about imminent collapse and skyrocketing prices was what led us to this investment decision. We underestimated our opponent and we may as well be underestimating them still.
      Why isn’t the silver manipulation whistleblower coming forward?

    • GATA came forward as the whistleblower on the gold and silver manipulation in 1998 in Vancouver, BC.
       
      There have been many others that followed them.

  8. The article seems to confirm one of my hunches in the chess game we play. There are many variables to affirm, quick to the chase. Buy and hold precious metal coins. Buy and hold US Blue Chip stocks. NOW. Many sold their silverware and gold jewelry (West) since 2008-2013. That supply is disappearing. Coins are relatively few. Consider the really small supply of silver Maples, for example, just under 100 million since 1988 makes the coin rare…very rare…if they stop minting. Bars could easily be accumulated now and in the future. Eagles and Maples? Probably not. Besides the spot increasing from paper trading in the near future, when energy costs drive down mining outputs from all but the blue chip mining companies, the coins will have a very special place reserved for preserving wealth. The blue chip mining companies will be in a good position to buy up claims and mines when the juniors get crushed from spot manipulations and energy costs. The same goes for blue chip stocks. When the blue chips acquire small companies, the price per share of the blue chips will be out of reach for the small investor. When the daily closing price exceeds the capability of the average citizen around the world to buy shares, your shares in actual certificates that you own now will preserve/create wealth. The key operative phrase is buy now and hold for generations to come. Today’s spot and stock prices are tomorrows bargains. Have in hand quality PM coins and get your stock certificates now. The reasons are clear. Governments can stop minting and go electronic/cashless. The same holds true regarding the Depository Trust & Clearing Corp.’s mounting attempts to end actual paper certificates. I think this how the wealthy will stay wealthy in the immediate future. Buying now, regardless of smash downs and corrections, and holding in physical form will be the definitive wealth creator/preserver the average Joe or Josey has their command…right now!

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