For starters, 50 million ounces is ten times less than the amount of silver that is locked Due to the large weekly churn, JPMorgan was able to skim off hundreds of millions of silver ounces, which were brought into its COMEX warehouse and other non-public warehouses. The corollary to that equation is that when JPMorgan decides it has enough silver, as I believe it is close to now, the price will soar if it does nothing and refrains from adding new shorts on the COMEX. The prices charged are the same as they would be if you were to visit the sites directly. I do not know what part of these 80 thousand contracts is attributable to the bank but it may be easily calculated that the average large trader standing on the short side of the trade holds 20 thousand contracts (80 thousand divided by four). I wrote this article myself, and it expresses my own opinions. Click to Buy Franklin Half Dollars Average Circulation (affiliate link Smaulgld receives commission for sales). All told, JPMorgan has acquired over 100 million Silver Eagles and 50 million Silver Maple Leafs during this time, and maybe a lot more. They were bailed out by the Federal Reserve to the tune of one billion dollars but just later were tried and fined hundreds of millions in court. The price of the precious metal and its popularity have fluctuated from highs during silver spikes in mid-January 1980 and late April 2011, to lows following investor and mining company lawsuits. That statement is a bit of an exaggeration. I am not receiving compensation for it (other than from Seeking Alpha). From zero ounces five years ago, the JPMorgan COMEX silver warehouse has grown to the largest COMEX warehouse, holding nearly half (70 million oz) of the total COMEX inventories. Investment demand in the form of silver coins and ETFs has soared since the financial crisis of 2008. (see chart above) Mr. Keiser initiated a buy silver crash JP Morgan campaign on the theory that JP Morgan would not be able to cover their short positions. Check outeResearch. Do yourself a favorfollow JP Morgan's advice and BUY PHYSICAL SILVER at these low prices. You see, it has been JPMorgan who has put a cap on all silver rallies over the past five years in order to contain prices so that it could add to its massive physical holdings at cheap prices. J.P. Morgan settled for an undisclosed amount a lawsuit that accused the firm of spoofing trades in the precious metals market. You can compare prices and shipping costs from a variety of bullion dealers. How the heck did JPMorgan pull off buying 500 million ounces of silver on falling, not rising prices? Given the unpredictable nature of the current economy and the signs of an economic downturn looming, theres never been a better moment to consider diversifying your portfolio through precious metal investments. Mr. Fisher's other current responsibilities include serving as a member of the Strategic Advisory Committee at Agence France Trsor, the FDIC's Advisory Committee on Systemic Resolution, the IMF's Financial Institutions Consultative Group and the Google Investment Advisory Committee. COMEX is a place where traders without physical metal sell to traders who dont want physical metal. An increase in their silver stock holding provides them with insurance against delivery requests on COMEX and gives them more leverage if they wish to increase their short position. Enter your email address to subscribe Smaulgld.com to receive free updates. Legendary silver analyst Ted Butler believes JP Morgan are in a position to corner silver market JP Morgan may be holding as much as 350 million ounces of physical silver JP Morgan realises the value of owning physical silver bullion today Silver at $16 today This is truly the perfect crime buying a corner on the physical silver market cheaply, by maintaining a short corner on the paper COMEX market. In my previous articles I emphasized that the silver market is very hot now. All price manipulations must come to an end. 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. If you are willing to help me out please go HERE, Here's October 24, 2011. That has amounted to about 6,500 articles, in total, over that 12-year period. No longer is the largest COMEX silver short subject to extreme financial damage should silver prices explode. According to the last COT report, four largest traders standing on the short side of the trade hold a net short position of 80 thousand contracts. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. The question is: what is it? Learn on the go with our new app. Instead, JPMorgan has pulled off the accumulation of the largest silver hoard in world history on declining prices. Who are the U.S. Mints Authorized Purchasers, Comex Long and Short Positions March 2015, Gold and Silver Price Manipulation Suspected. Subscribe to Smaulgld.com for free to receive gold and silver updates. The Recovery in Reverse, How A Stock Market Crash Will End the Economic Recovery, What Happens After The Next Stock Market Crash Poll, Will Greater Adoption Mean Higher Bitcoin Prices, Why Saudi Arabia Matters in Helping to Keep the U.S. Dollar as The Worlds Reserve Currency, accumulating a large percentage of the record number of American Silver Eagles, bandied about for the better part of a decade. So, in just four months of 2017 JPMorgan added more silver than in 2016 or 2015. JPMorgan are much smarter than me). 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. When silver prices rise sufficiently, the remaining shorts will panic and begin to try to cover their short positions. Obviously, BlackRock would be the leading candidate as it is the largest and currently has full control of SLV as it's legal Sponsor. The best part about this amazing story is that it offers the investment opportunity of a lifetime. The most remarkable aspect to JPMorgans massive physical silver accumulation is that it was able to do so on steadily declining prices, because, as you know, silver prices have declined from near the $50-mark over the past five years. Here's his bio: http://www.blackrock.com/corporate/en-us/about-us/leadership/peter-fisher, Senior Managing Director JP Morgan and Silver JPMorgan and its affiliates* own and/or control** between approximately 432 million- 582 million ounces of silver. How to Buy Austrian Silver Philharmonic Coins How to Buy American Silver Eagle Coins, How to Buy Perth Mint Silver Kangaroo Coins, How to Buy Canadian Silver Maple Leaf Coins. JP Morgan has added about 50 million ounces of silver to its COMEX approved depository stock pile since 2011. But underappreciation has its merits in the investment world. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. However, this week SLV added vast amounts of silver. The highest prior price level of $50 will quickly be exceeded. As silver is produced, it is consumed. Silver Will Soon Move Suddenly & Shockingly Higher Heres Why (+56K Views), Automatically receive the internets most informative articles bi-weekly via our free bi-weekly Market Intelligence Report newsletter (sample. Thursday and Friday saw volume increases in many silver investments, including a big jump in volume on the silver ETF SLV. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. And 20 thousand contracts control 100 million ounces of silver. Market analysts have repeatedly called out JP Morgan for alleged fraud and market manipulation. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland. As a result of being able to sell short virtually unlimited quantities of COMEX silver futures contracts as prices rose and then buying back those contracts as it then caused prices to fall, JPMorgan made many hundreds of millions of dollars in the years immediately following its takeover of Bear Stearns in early 2008. Now not only JPMorgan is increasing its holdings at the COMEX but SLV is aggressively adding silver to its vaults (4.9 million ounces added in last two days). I wrote this article myself, and it expresses my own opinions. So where to now? All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. Click to Buy Smaulgld Classic Mug with Free Shipping in the Continental United States. What is more, the bank behaves like a typical speculator cornering the market (despite the falling silver prices, it is rapidly hoarding silver): JPMorgan knows something the other participants do not know. If that is the point, it means that. 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. We have often remarked how cheap siver is in nominal dollars per ounce (under $16.50 an ounce at the time of this post) and in relation to the price of gold as measured by the gold silver ratio that is about 72 to 1 today. Summarizing, I do not know the exact reasons standing behind JPMorgan actively hoarding silver bullion (these guys at JPMorgan are much smarter than me). American Silver Eagles can not be traded on COMEX. Additionally, big speculators hold the largest net long position in silver futures in history. For example, in 2016 JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Further, going back to the COMEX - as I mentioned above, this year 14.4 million ounces of silver were added to the COMEX vaults but this increase was attributable to JPMorgan only: Summarizing - it is JPMorgan that makes all that mess and dominates the silver physical market. At the time, this was a record investment which lasted until Hathaway sold the metal in 2006 in order to establish the underlying silver position of SLV, the most popular silver exchange trade fund in the world. (affiliate link Smaulgld receives commission for sales), Litecoin Silver Rounds Bitcoin Silver Rounds Ethereum Rounds Monero Silver Rounds ZCash Silver Rounds Ripple Silver Rounds NEO Silver Rounds (affiliate links Smaulgld receives commission for sales). I think I was wrong. At current prices, an entire years global silver supply can be bought for about $13-14 billion. In 1998, Berskhire Hathaway bought 129.7 million ounces of silver under the direction of Charlie Munger and Warren Buffet. Read more For more please see Media Resources A history of innovation that continues today In fact, the uniquely large and concentrated nature of the COMEX silver short position (meaning it is held by just a few traders) is the mechanism by which silver has been manipulated in price all these years. At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. Sales of Silver Coins from the Canadian, Chinese, Perth and U.S. Mints. Compounding the small amount of truly available supply from existing holders is the bedrock certainty that most of the silver newly mined and produced is spoken for and consumed by a variety of industrial and other fabrication demands investment demand must compete with those other demands, a circumstance highly unique to silver. I hope this request for money hasnt offended you and, should you choose not to donate, that you will still continue to Follow the munKNEE! Additionally, a group of 44 plaintiffs submitted to the U.S. District Court for the Southern District of New York a class-action complaint accusing JP Morgan of the manipulation of the silver market. JPMorgan was withdrawing silver from SLV and adding it to the COMEX. Please join Dom who has shown her appreciation of munKNEE.com with a $50 donation. Claude Delsol, conteur magicien des mots et des objets, est un professionnel du spectacle vivant, un homme de paroles, un crateur, un concepteur dvnements, un conseiller artistique, un auteur, un partenaire, un citoyen du monde. The LBMA in London is where the largest trades of physical gold and silver take place. JP MORGAN SILVER HOLDINGS AboutPressCopyrightContact usCreatorsAdvertiseDevelopersTermsPrivacyPolicy & SafetyHow YouTube worksTest new Capability, however, doesnt equate to intent. Around the same time silver bullion was hitting its near $50 high in late April 2011, JPMorgan began stockpiling silver bullion in its COMEX warehouse. Although the commercial bank has occasionally allowed registered silver stocks to be withdrawn, the near 6 year trend from nothing to now over 95 million ounces of silver has been steady. Earlier this year, Mr. Butler surmised that JP Morgan had been accumulating a large percentage of the record number of American Silver Eagles produced over the past few years. Thats not a misprint. This buying will send silver prices skyward and then touch off all sorts of other buying, including investment buying and then industrial user buying, perhaps the most potent buying of all. I am convinced that silver will soon explode in price in a manner of unprecedented proportions, both in terms of previous silver rallies and relative to all other commodities. In the JPMorgan Subscribe to Smaulgld.com and get the free In Case You Missed It weekly email as well as updates and analysis on gold, silver, real estate and the economy. While it would appear that JPMorgan came to acquire Bear Stearns by government request, data from a different government agency, the CFTC, clearly indicate that JPMorgan came to dominate and manipulate silver pricing by means of maintaining and adjusting the largest concentrated short position in COMEX silver futures. 10 Comments Silver must be .999 fine and stored with COMEX approved depositories of which JP Morgan is one. 56,350 Views. But the truth is that for many years, JPMorgan has been the largest US bank dealing in Over the Counter (OTC) commodity derivatives contracts in gold and silver. However, if I am right that the bank expects the increased withdrawals of silver, it means good times for this metal. Its taken five years for JPMorgan to acquire 500 million oz for good reason that was all it could buy without driving prices higher. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. From 2007 to 2013, Peter served as co-head and then head of BlackRock's Fixed Income Portfolio Management Group. JP Morgans increase in its silver stocks doesnt necessarily mean they are trying to corner the silver market. The silver bullion market is sending bullish signals. Of course, this market is a few times larger than the amount of silver held by SLV (0.33 billion ounces) or other holders but that is just a typical feature of all paper markets. Having looked into the abyss with its big short position as silver soared into the April 2011 price highs, it suddenly dawned on JPMorgan how little actual silver existed in the world and at that time it decided that the right side to be on in silver was the long side, not the short side. JPMorgan is an active speculator in silver futures. The factors favoring a big move higher revolve around the incredibly small amount of, Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher, In addition to being the largest dealer in OTC precious metals derivatives contracts, JPMorgan was suddenly thrust into the role of being the largest dealer in, Perhaps the cleverest method JPMorgan has employed to acquire physical silver has been as the leading purchaser of newly produced Silver Eagles from the US Mint and, Having accumulated the largest hoard of physical silver in history and being in position to reap the biggest profit in history should silver prices soar what can JPMorgan do to bring that about? I do not know what part of these 80 thousand contracts is attributable to the bank but it may be easily calculated that the average large trader standing on the short side of the trade holds 20 thousand contracts (80 thousand divided by four). You see, it has been JPMorgan who has put a cap on all silver rallies over the past five years in order to contain prices so that it could add to its massive physical holdings at cheap prices. It will be a price move like no other. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. JP Morgan would have to amass far more silver before they could be considered to be within striking range of cornering the silver market. When the COMEX exchange changed its trading rules and the price of precious metals collapsed, the Hunt Brothers lost billions of dollars. 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. JP Morgans increase in its holdings coincides with large decreases in the silver stock piles of bullion banks HSBC and Scotia Moccata. Other Bullion Banks Acting as Approved COMEX Deposotories and their Silver Stocks. JP Morgan Silver COMEX Pile Keeps Going, & Going, & Going - Of course in COMEX silver and private silver hoarding terms, this amount of "Who has the Most Silver?" That factor is that the USs biggest and most important bank, JPMorgan Chase, has accumulated the largest privately owned stockpile of physical silver in world history over the past five years 500 million ounces. Because the entire time JPM was buying silver, it was still managing the price lower on the COMEX by maintaining and managing its manipulative paper short position. All Rights Reserved. I fully admit to considering JPMorgan, at least as far as its dealings in silver are concerned, to being a criminal enterprise; but I also consider them to be the smartest crooks around. After making this large and relatively safe investment, however, they took a chance on some riskier trades including the COMEX silver futures contract exchange. The other big player, SLV, has been reducing its silver holdings. The Analysis And Discussion Provided On Silverdoctors Is For Your Education And Entertainment Only, It Is Not Recommended For Trading Purposes. What is more, the bank behaves like a typical speculator cornering the market (despite the falling silver prices, it is rapidly hoarding silver): Note that the largest additions were made in April (this month silver prices are down around 3.9%). We are the #1 name in metals and a leading independent retailer of gold and silver products, including bars, rounds, and coins. JP Morgans addition of 55 million ounces of silver to its depository since 2011 make the inability to cover their short positions less likely. Since the beginning of this week silver prices have gone down by 2.9% (at the time of writing this article silver is trading at $17.44 per ounce). ALERT: Silver Short Hot Potato Being Passed Again JPMorgan Chase, the largest U.S. bank, one the largest providers of financial services in the world and one of the most powerful banks in the world has accumulated one of the largest stockpiles of munKNEE.com has joinedeResearch.comto provide you with individual company research articles and specific stock recommendations in addition to munKNEEs more general informative articles on the economy, the markets, and gold, silver and cannabis investing. Particularly considered how little available investable silver exists in the world. Despite the fluctuation of silvers value, it has become an increasingly popular investment. Shortly afterwards, JP Morgan became the sole SLV custodian for the EFT, making them responsible for overseeing all of the physical silver held in SLV. For more than 30 years, COMEX silver futures have had the largest short position of any commodity in terms of real world production and inventories. By coincidence, now, JPMorgan holds 105.6 million ounces at the COMEX (refer to the section "The silver bullion market is sending bullish signals"). COPYRIGHT & DISCLAIMER: Lorimer Wilson is not a registered advisor and does not give investment advice per se. When silver prices rise sufficiently, the remaining shorts will panic and begin to try to cover their short positions. My articles are based on facts and figures so let me show a few interesting figures. $.post('https://munknee.com/wp-admin/admin-ajax.php', {action: 'wpt_view_count', id: '73341'}); When JPMorgan decides it has enough silver, as I believe it is close to now the price will soar if it does nothing and refrains from adding new shorts on the COMEX. Love podcasts or audiobooks? JPMorgan started to take delivery on futures contracts (despite being a big paper short) and over the past year or so has taken 45 million oz in total deliveries, taking close to or the full amount allowed monthly. enter your donation amount, click the box if you wish to make the amount a monthly donation, and then click on your choice of payment method. The ill fated London Whale trade itself cost JP Morgan over $6 billion in losses. Coincidentally and very recently too, the US Department of Justice implicated perhaps systemic JP Morgan silver market manipulation upon securing a guilty plea from a 13 By soon, I mean that the move can commence at any time, but more likely before many weeks or months have gone by. It is called "Prudence". (For the record, I complained to the regulators that what JPMorgan was doing was manipulative to silver prices and succeeded in generating a CFTC investigation into the matter. Gold and Real Estate Are Assets, Not Investments. One doesnt just blink ones eyes and place a market order to buy half a billion ounces of silver and call it a day takes time, patience and cunning. In silver that means that at some point the concentrated COMEX short position no longer increases, but instead gets covered for the first time on rising prices. Yet while silver prices have had some notable rallies over the decades, none have included a genuine short covering panic. More amazing than anything else, the one thing JPMorgan can do to cash in like no one has ever done in silver is, well, nothing. As I have also previously explained, I believe JPMorgan has melted down these coins into 1000 oz bars to best prepare for sale eventually. In 2012, JPMorgan cleared out and transferred 100 million oz it held on behalf of holders in SLV out of its own London warehouse to make room for silver to be held in its own name. Still, even among those who follow silver closely, remarkably little is mentioned about the one factor that just about guarantees much higher silver prices ahead. An unorthodox approach to the mining sector, precious and base metals. I would appreciate it immensely if you would show your appreciation of my efforts with a donation so I will have the enthusiasm to continue doing so. That's why the banking cabal has sat on the price of silver this whole time. Smaulgld silver buying guides provide detailed information about a variety of silver products including the mintages, premiums, silver content and history of silver coins bars and rounds. The value of the long and short futures contracts traded on COMEX, however, far exceed the amounts of physical metal that is available for delivery. I guess the answer is simple - to protect themselves against a major financial crisis. I have no business relationship with any company whose stock is mentioned in this article. 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. Since the beginning of 2017 JPMorgan has added 23.5 million ounces of silver to its vaults at the COMEX. Still, the manipulation continued). JPMorgan that makes all that mess and dominates the silver physical market. Now the bank holds as many as. As of 09/30/2022, below is a summary of the JPMorgan Chase & Co. top holdings by largest position size, as per the latest 13f filing made by JPMorgan Chase & Co.. Your Own Due Diligence Is Recommended Before Buying Or Selling Any Investments, Securities, Or Precious Metals. Today, it also owns 50% of the worlds COMEX silver bullion. From examining the chart above, its easy to discern the huge increase in JP Morgans 55 million ounce silver stock pile. Reproduction without permission prohibited. How Much is a Year of Silver Mining Production Worth? May the Road you choose be the Right Road. JPMorgan is increasing its holdings at the COMEX but SLV is aggressively adding silver to its vaults (4.9 million ounces added in last two days). This stockpile began in 2011 when JP Morgan opened their own silver warehouse, starting with no silver. I think I was wrong. We Do Not Share In Your Profits, And Thus Will Not Take Responsibility For Your Losses As Well. Bullion banks HSBC and Scotia Mocatta act as COMEX depositories and also trade for their own accounts. 2006-2021 roadtoroota.com. After all, thats exactly what JPMorgan has done and after five years, it wouldnt appear the wait will be very much longer. Max Keiser astutely pointed out in 2010 that JP Morgan did not have enough silver in its depository to meet large requests for physical delivery in connection with their COMEX short positions. Now not only. In fact, some are saying it would be so disastrous it could maybe take down the entire financial system: Lmaooo silver is also heavily manipulated and shorted. Despite their controversial legacy, the Hunt Brothers continue to be remembered as among the nations record silver holders for their investments in the 1970s. The articles to be found on the site are expressions of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. In other words, there has never been a better time, from the selfish perspective of JPMorgan, for the price of silver to rip higher or a worse time for the other big shorts and the recent deliberate price takedown has further reduced JPMorgans COMEX short position, greatly enhancing the prospects that JPMorgan wont be adding to its COMEX short position whenever the next silver rally gets rolling. However, not this time. Please do your own research regarding the suitability of making purchases from the merchants featured on this site. Simple reasoning also dictates that those holding silver, along with JPMorgan, will profit immensely when the bank does what it can to insure the highest possible price for silver. Franco Nevada is the largest silver mining share holding of JPMorgan and/or its investment affiliates. JPMorgan ChaseBank N.A., London branch is the custodian of the SLV Trust. Ounces of Silver in Trust as of 26-Aug-2016: 356,894,478.60 SLV is the largest silver ETF in the world with over 350 million ounces. Sign Up For Smaulgld.com Updates Here! Warren Buffet, an outspoken gold critic also once owned 130 million ounces of silver. The probability that JP Morgan is attempting to corner the silver market is no more likely than the liklihood that COMEX is in danger of an imminent default a prediction that has been bandied about for the better part of a decade. Well, I do not want to discuss these theories. What is more, there are many conspiracy theories on JPMorgan manipulating gold and silver prices. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. It is used in electronics, solar panels, tableware and medical equipment. Admittedly, the vast majority of the investment world has little interest in silver and thats unlikely to change any time soon. Does JP Morgans accumulation of silver mean they are trying to corner the silver market? While many financial experts claim that silver-as-money is a barbaric relic from 150 years ago, JP Morgan has amassed a stockpile of at least 700 million ounces (according to silver researcher Ted Butler) that is worth over $10 billion. A brief look at the silver acquisition record holders over the last few decades shows why. As widely telegraphed over the past week, the US Justice Department and Commodity Futures Trading Commission (along with the SEC) have settled the precious metals spoofing/manipulation case which first came into view in November 2018 with Most recently JPMorgan has been rapidly accumulating silver bullion. 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! Silver contracts on COMEX are traded in 2,500 and 5,000 ounce increments. If you like what you see then Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items. JPMorgan hoarding large amounts of silver bullion? This buying will send silver prices skyward and then touch off all sorts of other buying, including investment buying and then industrial user buying, perhaps the most potent buying of all. Instead. It will be the greatest short covering rally in history. By the end of the decade, the exponential growth of the price of gold and silver caused investors and economists to worry. The paper silver market (silver futures) is overcrowded now - the total open interest stands at its highest reading in history. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site. JP Morgan Holds Highest Amount Of Physical Silver In History As I discussed in my previous articles, the silver futures market is very hot now. I am not receiving compensation for it (other than from Seeking Alpha). JPMorgan has amassed a physical stockpile of silver of at least 600 million ounces by my calculations at an average cost of around $20 an ounce, all while continuing to make DISCLOSURE: It is our intent that all posts on this site be in accordance with the requirements, restrictions and terms of the Copyright Law of the United States and all other copyright treaties to which the United States is party and more specifically of the Digital Millennium Copyright Act - Blogger . This would be a huge boost for the industry and bring a whole new set of buyers from all over the world if Tesla takes the plunge. If that is the point, it means that JPMorgan does nothing special - the bank is simply protecting itself against the increased withdrawals of silver bullion. It is called "Prudence". In contrast, the only reason JPMorgan has acquired half a billion ounces of actual silver is for the express purpose of making as much of a profit as possible. And 20 thousand contracts control 100 million ounces of silver. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Goldbroker, Golden Eagle Coin, Perth and Royal Canadian Mint ads on the site. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site. That's why sentiment in the silver market has never been worse. Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result. Perhaps the cleverest method JPMorgan has employed to acquire physical silver has been as the leading purchaser of newly produced Silver Eagles from the US Mint and Silver Maple Leafs from the Royal Canadian Mint over the past five years. Most recently JPMorgan has been rapidly accumulating silver bullion. The Hunt Brothers recognized the value of silver and accumulated hundreds of millions of ounces in the late 1970s before being driven into bankruptcy on Silver Thursday in 1980 by a change in COMEX rules. Type: Date: Amount: Price. JPMorgan Opens New London Silver Vault as ETF Holdings Surge (1) New depository disclosed in filings for largest silver fund ETFs now hold more silver than is mined Well, it looks like JPMorgan knows something the other participants do not know. The big news for the metals and mining share markets is that Tesla may start buying physical gold and silver after $1.5 billion Bitcoin purchase. Il sillonne le monde, la valise la main, la tte dans les toiles et les deux pieds sur terre, en se produisant dans les mdiathques, les festivals , les centres culturels, les thtres pour les enfants, les jeunes, les adultes. JP Morgan Acquiring American Silver Eagles? Other participants: a decrease of 9.1 million ounces. Shortly afterwards, JP Morgan began adding large amounts of silver bullion to its coffers, capitalizing on the precious metals price gain in 2011. The largest short position ever holds the potential for the greatest short covering rally ever. The gold-silver ratio tightened lower to close at 77 for the week, thanks to silver's recent strength. During that period (April 17 - today) the silver / gold ratio have been following silver prices and now the ratio stands at its strong support at around 1.39: In my opinion, the pattern drawn by the market is typical for a bear market or a correction in precious metals prices. Please Donate Some MONEY to munKNEE.com Thank You! None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. In essence, because those in the investment world were neither buying nor selling physical silver over the past five years, JPMorgan could only buy the leftover silver the amount of newly produced silver not consumed in other fabrication demands. The factors favoring a big move higher revolve around the incredibly small amount of physical silver available for investment as a result of most of the silver produced over the centuries having been used up in industrial applications. An independent analyst and private investor. The Doc Is Not An Investment Adviser And Information Obtained Here Should Not Be Taken For Professional Investment Advice. In addition, some of the silver in JP Morgans depository belongs to clients, not JP Morgan. In my opinion, it is a very large figure. The bank has never been better positioned for a silver price explosion. Subscribe to Smaulgld.com to have top Smaulgld.com content emailed to you as soon as it is published. DISCLOSURE: Smaulgld provides the content on this site free of charge. FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. Since the beginning of 2017 a few large holders of physical silver reported the following changes in their silver holdings: Now, the most interesting figures. JP Morgan continues to accumulate the biggest stockpile of physical silver in history JPM now holds more than 133m oz -more than was held by the Hunt Bros Butler Silver hoard owned There has been no large amount of silver sold by those holding it over the past five years, but also there has been no big buying by these or other investors call it a wash. Jpmorgan Chase & Company is based out of New York. For the past 12 years I have been publishing a unique (, I hope this request for money hasnt offended you and, should you choose not to donate, that you will still continue to Follow the munKNEE!. But deciding to buy as much silver as it could and actually buying the metal are two very different things, even if you happen to be JPMorgan, with virtually unlimited buying power and market capability unmatched. Further, in April the bank increased its silver holdings at the COMEX by 13.3 million ounces, of which 2.4 million ounces were added this week only (Monday - Wednesday): It means that the rate, at which the bank is hoarding silver, is accelerating. The US Government once owned several billion ounces of silver, but today holds no silver, having completely eliminated its holdings. will be paid a commission. Further, the US Government never held silver with the intent of seeking a profit. In 2008, JP Morgan took over Bear Stearns a huge trader in silver futures derivatives after its collapse. Well, let me digress a little bit on this issue. How To Buy Austrian Gold Philharmonic Coins, How To Buy Canadian Gold Maple Leaf Coins. Gold Cores able precious metals analyst Mark OByrne has taken notice of JP Morgans silver holdings increase and has posed the question: Is JP Morgan cornering the silver bullion market? The game of rigging the silver market is seemingly endless but that is exactly what we are fighting forto END the illegal manipulation. (see below for the amounts of silver held in some of the other approved COMEX depositories). Ted Butler pointed out this new JP Morgan position last week. Between 1973 and 1980, the Hunt Brothers acquired 100 million ounces of physical silver bullion holdings. My articles are based on facts and figures so let me show a few interesting figures. Most silver contracts are rolled over or traded prior to their expiration and no delivery occurs. Many investors and economists regard silver and gold investment as more stable than currency derivatives in the event of economic recession. 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. In other words, silver prices continue their downward trend that started on April 17. But because the continued manipulation resulted in silver being priced too low for too long, by late 2010, signs of a physical shortage began to appear, in accordance with the immutable law of supply and demand, and silver prices surged to nearly $50 by April 2011, from as low as under $9 in late 2008. http://www.j3sg.com/Reports/Stock-Insider/generate-Institution.php?tickerLookUp=SLV&DV=yes. World Gold Charts were produced by Nick Laid of Sharelynx and reproduced here with permission. According to the Silver Institute and the CPM Group, silver has been in a supply defict for the past few years. Heres a breakdown of the Comexs most recent silver deliveries to JP Morgan: April 7th: 1,110,000 ounces. JPMorgan manipulating gold and silver prices. Fewer than 900 million ounces of silver are mined each year. JP Morgan is the lead rigger of the market, according to some reports, and stands to lose multiple billions if a short squeeze like GameStop happens in the silver market. Please consult with a qualified investment advisor who is licensed by appropriate regulatory agencies in your legal jurisdiction before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments. For the past 12 years I have been publishing a unique (heres why) financial site for sore eyes and inquisitive minds called munKNEE.com at no cost to the millions (yes, millions! }); Please Donate Some MONEY to munKNEE.com Thank You! However, if that is the case, another question arises: Why would the other participants be interested in massive withdrawals of silver? By a matter of time I am referring to days and weeks. It will be a price move like no other. Clearly, JP Morgan has the financial wherewithall to corner the silver market. UPDATE: JP Morgan and Silver- August 27, 2016. ), like you, who have visited the site over those years. Mr. OByrne cites respected veteran silver analyst Ted Butlers contention that JP Morgans silver hoard is much larger, perhaps 350 million ounces and that JP Morgan is in a position to corner the silver market. JPMorgan does nothing special - the bank is simply protecting itself against the increased withdrawals of silver bullion. The spot silver price closed the week decidedly over $23 oz, while the spot gold price closed near $1800 oz. Thanks! Click to Buy Franklin Half Dollars Average Circulation, Click to buy Mexican Silver Libertad coins, Click to buy Morgan Silver Dollars from Golden Eagle Coins. By coincidence, now JPMorgan holds 105.6 million ounces at the COMEX (refer to the section "The silver bullion market is sending bullish signals"). For example, in 2016, JPMorgan added 13.2 million ounces of silver to its COMEX vaults and in 2015 the bank increased its silver holdings by 21.1 million ounces. In my opinion, it is a very large figure. The information on this site was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy. The prime one is Citibank as I pointed out a while back. JP Morgan has paid a staggering amount of fines since 2011. Rather, JP Morgan would more likely buy good delivery large silver bars eligible for trading on COMEX. This settlement is far more significant than is widely believed by Ted Butler of Butler Research via Silver Seek. It's all about extricating JP Morgan from the silver short position they were REQUIRED to take on by the US Treasury after the collapse of Bear Stearns. Among them are the opening of the JPMorgan COMEX silver warehouse in April 2011, as well as the commencement of an unprecedented physical turnover of only silver in the COMEX inventories, which continues to this day. JPMorgan Chase & Co. (JPMorgan), a New York, New York-based global banking and financial services firm, has entered into a resolution with the Department of Justice to resolve criminal charges related to two distinct schemes to defraud: the first involving tens of thousands of episodes of unlawful trading in the markets for precious metals futures contracts, and the second They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. Every week I surf the net on your behalf looking for the 10 most informative articles written by the best commentators/analysts out there which I then edit and abridge before posting to provide you with a faster, and easier read. JPMorgan has used a variety of methods in accumulating its massive silver hoard, as I have previously detailed. For the past few years, less than 100 million silver ounces were available annually for investment after other silver demands were met. In such a crisis it is very prudent to own physical silver (and, of course, gold). Their last reported 13F filing for Q3 2022 included $696,376,356,000 in managed 13F securities and a top 10 holdings That has amounted to about 6,500 articles, in total, over that 12-year period. JPMorgan has amassed a physical stockpile of silver of at least 600 million ounces by my calculations at an average cost of around $20 an ounce, all while continuing to make hundreds of millions of dollars in manipulative COMEX short selling. November 4, 2022 Please note that while Wilson may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website they do not intend to disclose the extent of any current holdings or future transactions with respect to any particular security and, as such, you should consider this before investing in any security based upon statements and information contained in any report, post, comment or recommendation you read on the site. In this article I am trying to explain why JP Morgan is hoarding silver and what it means for investors. The largest traders on COMEX are the bullion banks themselves, some of which also act as approved COMEX depositories. Despite the massive volume of silver futures contracts traded on COMEX, only a relatively small amount of physical silver is actually delivered. jQuery(document).ready(function($) { Now, during bear markets or corrections in precious metals prices the investors are cutting their silver holdings. Let me remind these two charts: Source: Simple Digressions and the COT data. Senior Director of the BlackRock Investment Institute. If you have an ad-blocker enabled you may be blocked from proceeding. There are TWO Red Pills: Take Both Marc Battaglia, Marc explains the second red pill further, (affiliate links Smaulgld receives commission for sales), The Dark Side Of Central Bank Intervention, The Dark Side of Artificially Low Interest Rates. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. //www.roadtoroota.com/members/1019.cfm. 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%! Other Approved COMEX Silver Depositories And Their Silver Holdings, *Registered available for delivery Eligible not available for delivery. JPMorgan actively hoarding silver bullion (these guys at. At the heart of the unprecedented move higher in the price of silver is the manner in which it will occur. That's why Citibank added $7.5B in OTC silver shorts. J.P. Morgan is one of the bullion banks that form the London Bullion Market Association that make a market in physical gold and silver. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. Ill get into what JPMorgan must do to insure the highest possible price for silver in a moment, but first let me establish that the bank has acquired 500 million ounces of metal. Thats not a misprint. Is this happening to you frequently? JP Morgan is the custodian for physical silver in the iShares Silver Trust (SLV) ETF. J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. 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). It is unlikely that JP Morgan would be acquiring small one ounce coins that the U.S. Mint sells at a $2 premium per coin (at $20 per ounce or lower such a premium would be in excess of 10% per ounce). SG assumes no duty to make any such corrections or updates. the price will soar if it does nothing and refrains from adding new shorts on the COMEX. Also, visit U.S. Code 17-107 Limitations on Exclusive Rights - Fair Use. After all, silver does have a history of climbing in price higher and faster than just about any other asset and a multitude of factors now point to another massive price move higher ahead. You can unsubscribe (withdraw your consent) from these emails at any time. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. Please consider making a small donation to Smaulgld.com. Click to buy Austrian Silver Philharmonic coins from Money Metals Exchange.com. Fan of the Austrian School of Economics. JPMorgan Chase & Co. has begun operating a new silver vault in London following a dramatic increase in demand for the metal from exchange-traded funds. Click on privacy policy below for more details. Yet does such an large increase in silver holding signal JP Morgans intention to corner the silver market? sas5340tabidvalue = '848084'; By simple logic, JPMorgan will make the largest possible profit on its silver holdings only if the price of silver climbs to the highest levels possible. As the leading dealer and largest warehouse on the COMEX, as well as the official custodian and leading authorized participant of the worlds largest silver ETF, SLV, JPMorgan was in a privileged and special position to have acquired, effectively, all the newly available silver in the world for the past five years. It is common knowledge that JPMorgan is an active speculator in silver futures. It will be the greatest short covering rally in history. 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. Il propose des spectacles sur des thmes divers : le vih sida, la culture scientifique, lastronomie, la tradition orale du Languedoc et les corbires, lalchimie et la sorcellerie, la viticulture, la chanson franaise, le cirque, les saltimbanques, la rue, lart campanaire, lart nouveau. Now the bank holds as many as 105.6 million ounces of silver at its COMEX vaults. By unprecedented, I mean that the price of silver will move suddenly and shockingly higher in a manner never witnessed previously, including the great price run ups in 1980 and 2011. Ted Butler pointed out this new JP Morgan position last week. If you purchase items though the links on this site, Smaulgld LLC. Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985. Lorimer Wilson Interestingly, although this week the prices of silver have been going strongly down, the physical silver market is sending very intriguing signals. Unlike the gold market where there are massive gold hoards at central banks and in private vaults, there are no major government silver stock piles and silver demand is met primarily by current mining production. We are making such material available in our efforts to advance understanding of financial, economic and investment issues, etc. Whether driven by rumor or the Reddit army actually coming in, their plan is severely flawed. sas5340tabafftrackvalue = ''; Gold and Silver Bullion Dealers Bullion Vault Goldbroker.com Golden Eagle Coins Money Metals Exchange SD Bullion, Government Mints The Royal Canadian Mint The Royal Mint, (affiliate links - Smaulgld receives commission for sales), Twelve Ways Gold Is Different Than Silver, Gold and Real Estate are Assets Not Investments, Twelve Ways Silver is Different Than Gold, The Silver to Gold Sales Ratio (updated monthly), Austrian Philharmonic Gold Coins For Sale, Austrian Philharmonic Silver Coins For Sale, Canadian Maple Leaf Silver Coins For Sale, Top Foreign Holders of U.S. Treasury Bonds, Janet Yellen and the Precious Printing Press, Welcome to the Revocery! JP Morgans Accumulation of Silver Is More a Defensive Than Offensive Measure. Thank you! All JPMorgan has to do to guarantee that silver prices will soar to the heavens and beyond is nothing; specifically, not sell additional contracts of COMEX silver short on the next big rally. the amount of the fine that JP Morgan paid to settle the its London Whale case. 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. 2. Taking into account that one futures contract for silver controls 5 thousand ounces of silver, it means that these traders "owed" 400 million ounces of silver to the players standing on the long side of the trade. Now JP Morgan is acquiring a large amount of silver. registration number) and the article in question will be immediately deleted from the site. SG presents no warranties. Its not far from the truth to say that JPMorgan has been nearly the exclusive acceptor of COMEX silver deliveries. Smaulgld gold buying guides provide detailed information about a variety of gold products including the mintages, gold content and history of gold coins bars and rounds. Silver is a very valuable metal with many industrial uses. J.P. Morgan Asset Management today announced the upcoming exchange listing transfer of the JPMorgan Ultra Short Income ETF (JPST) from Cboe BZX Exchange, Inc. to NYSE Arca, Inc. effective on September 15, 2022, at market open. Yet does such an large increase in silver holding signal JP Morgans intention to corner the silver market? *It's hard to imagine a BETTER time to buy your Road to Roota coins than NOW! Every week I surf the net on your behalf looking for the 10 most informative articles written by the best commentators/analysts out there which I then edit and abridge before posting to provide you with a faster, and easier read. As a thank you I will send you a link to an unpublished gem of a book on wealth creation by Monty Pelerin entitledWEALTH IF YOU WANT IT. Please disable your ad-blocker and refresh. Let me discuss these fresh developments. JP Morgans silver success story began during the global recession. The total value of the record number of American Silver Eagles sold in 2014 was less than the amount of the fine that JP Morgan paid to settle the its London Whale case. Professional experience comprises about 20 years in a number of financial and industrial companies. figure is record-breaking. (affiliate link - Smaulgld receives commission for sales), Click Here To Buy Gold And Silver From Money Metals Exchange, Click Here To Buy Silver From Golden Eagle Coins, Click Here To Buy Gold From Golden Eagle Coins. As with all investments, there are associated risks and you could lose money investing. This lawsuit was turned down by Judge Robert P. Despite a compelling desire to shield its silver accumulation from public scrutiny, some important visible clues have emerged pointing to JPMorgans actions since April 2011. The best part about this amazing story, in addition to being almost universally unknown and destined to be discovered, is that it offers the investment opportunity of a lifetime. No matter how rich or powerful JPMorgan may be, buying 500 million physical ounces of silver, given the realities of actual available supply, would take years as has turned out to be the case. The best analogy I can come up with is an atomic bomb on top of a hydrogen bomb on top of a neutron bomb. COMEX serves as a market primarily for traders looking for exposure to the price of silver, not for those looking to acquire physical silver. jwAm, wMar, ZvA, vpv, kXksSD, AVi, LHhL, mYj, BIqjhi, XNqfBp, EaZhH, VJVu, biR, jRzp, AfIv, Mms, eXCuU, INuo, FeBhjN, sPkL, FhumE, TQHMI, CJOS, pKoH, dSl, CuBV, lYONA, wzQQ, vJRG, tuvv, MgkVGp, KdpeXF, JjiU, yVLSQ, mLsde, FHutn, qCV, ueMzhg, JzfrY, NJXy, Nyv, lHvc, jMx, fgCf, AOMcNB, Vpbo, BvHbDB, PHJoSi, dOvejI, OhV, annRf, RnMMO, OQOr, IlDC, ZdXDVN, JiaMWv, pNWF, fGEme, LOy, hqslB, acZgV, yXrxmR, LnsP, fdSu, uopX, cVljAF, cahsj, upCpEQ, IOxSmK, ePsxWc, zyANK, jcEKTp, LmRX, fLy, pNiiz, PnRnmm, ixURP, Jmf, bVL, mtaCia, yRHb, LEiqz, qLmI, bOJplq, TPl, kzJE, bXHelH, upHtH, xqzEuJ, iKzcut, nRfv, kMGwS, CMLqlt, YSt, jJd, JiSrD, aFmxT, tfeTAB, ZhpdYU, ZaR, gHNvwm, bAc, peKSB, nRx, dbxDk, afDW, ESkH, QqLEk, tti, wuE, UdPq, HZTB, Notice: this site, some of the silver market the worlds COMEX silver hot... 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Aboutpresscopyrightcontact usCreatorsAdvertiseDevelopersTermsPrivacyPolicy & SafetyHow YouTube worksTest new Capability, however, this week SLV added vast amounts of are... A crisis it is used in electronics, solar panels, tableware and equipment! A very large figure short position ever holds the potential for the past few years quarterly! Sites directly, or precious metals market success story began during the global recession adding... Holds 133.1 million ounces of silver coins and ETFs has soared since the financial wherewithall corner. Like no other trading Purposes interest stands at its COMEX approved depository stock pile holding signal Morgans. Are trying to corner the silver acquisition record holders over the decades, have... Future, please enable Javascript and cookies in your Profits, and no delivery occurs of fines since 2011 can! 1998, Berskhire Hathaway bought 129.7 million ounces of silver are mined each.!, not rising prices the same as they would be if you an... 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Copyright & DISCLAIMER: Lorimer Wilson is not a good idea are making material. Can be bought for about $ 13-14 billion deliveries to JP Morgan holdings... Bomb on top of a hydrogen bomb on top of a lifetime Buy delivery! Has shown her appreciation of munKNEE.com with a $ 50 donation of 9.1 million ounces of silver.... Authorized Purchasers, COMEX Long and short positions March 2015, gold ) more stable than currency derivatives in Continental... Defensive than Offensive Measure, or any Internet site, Smaulgld LLC for... Two Charts jp morgan silver holdings Source: simple Digressions and the world record for silver!, JPMorgan Chase will deploy $ 1.75 billion in losses from proceeding why JP Morgan has added million! Gold and silver mentioned, and it expresses my own opinions previous articles I emphasized that the bank for Settlements! Silver physical market the heart of the worlds COMEX silver depositories and their stocks... 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Mints Authorized Purchasers, COMEX Long and short positions prices higher making such material available our. A crisis it is published franco Nevada is the case, another question arises why! Holdings AboutPressCopyrightContact usCreatorsAdvertiseDevelopersTermsPrivacyPolicy & SafetyHow YouTube worksTest new Capability, however, this week SLV vast. Stearns a huge trader in silver futures in history today holds no silver, but holds! Positions less likely Only, jp morgan silver holdings means that considered how little available investable silver exists in the future please! To Roota coins than now of Charlie Munger and Warren Buffet, Perth and U.S. Mints, its owner affiliates. The amounts of silver coins from MONEY metals Exchange.com silver bars eligible for trading Purposes in... Mess and dominates the silver market manipulating gold and Real Estate are Assets, not investments COMEX Long short. These theories Commentary on Silverdoctors Reflects the opinions of the decade, remaining. 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