Ted’s latest analysis on the massive JP Morgan silver hoard has something for everyone, so come on in and give it a listen…
Most longtime silver bullion aficionados know the last decade or so of JP Morgan silver history.
Like me, most learned about it first from our beloved uncle from another mother, Ted Butler, who has been writing and commentating on the matter for decades now.
The following is a recent interview Ted Butler had on The Bubba Show (a regular commentator on Kitco news for daily gold silver price action).
Please pardon the guest interviewer’s soft ball questions, as well as the terrible commercial break in / out break of flow.
Additional back story, charts, and notes are below for you to check out for more back story on this modern day silver saga.
TED BUTLER Interview – July 16, 2018 ^^^
JP Morgan’s COMEX Silver timeline:
March 2008: die naked silver shorter Bear Sterns… hello new COMEX Silver entrant, JP Morgan
Crash JP Morgan, Buy Silver:
This started in late 2010 and ran into late April 2011, with a $50 oz Silver run
JP Morgan, Buy Silver:
From 0 oz of Silver in 2011, to a modern day record Silver Bullion Hoard in 2018 and growing
JP Morgan siphons additional Silver Bullion there:
Owners of this day-trader vehicle (SLV) get the privilege of paying 1/2% per year to JP Morgan and friends, w/o owning any Silver Bullion outright
Why is JP Morgan Buying so much Silver Bullion today?
Takes a few minutes… but Max gets about
$1/2 the likely equation right, around the 12 minute mark:
Other part of this likely trade ultimately deals with derivative bet settling and continued solvency.
The BIS’ FSB who brought the G20 and USA 2014 Bank Bail-in Laws,
also has JP Morgan as the #1 Riskiest Bank to the World (page 3).
Next global financial crisis, bank derivative bet winners are 1st in line creditors thanks to new Bank Bail-In legislation put on the books over the last decade in the USA and throughout the G20.
This means some of these bank names above will be eaten up by others. Guessing the potential bank derivative bet winners vs the losers, is impossible. GAAP accounting standards got tossed in 2009. On mark to market basis many may have been bankrupt even before then.
What is damn certain, based on current Bank Bailin laws, is that Joe 6 pack demand deposit account holder on the wrong end will eventually be handed less in value, than he originally lent his bailed in bank.
JP Morgan is not merely greedy, they are also self interested to survive the next crisis they have had a large helping hand in creating.
That’s absolutely correct. The next crisis they will survive due to their silver holding. EX JPM trader.
— MarkwThomas (@thomas_markw) February 16, 2018
TED BUTLER redux:
Silver had already 2X’d by late 2010… on the road to $50 oz late April 2011
About the Author
James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis. He along with many reader of this website, have been getting more gray hairs waiting for silver to make its run above $50 oz USD and beyond.