Last month after a report surfaced that US regulators planned to drop the silver market manipulation probe, CFTC Commissioner Bart Chilton described the report as premature and inaccurate. We haven’t heard much since, but our guest Bill Murphy has an update on the bank at the center of silver manipulation claims, JP Morgan. JP Morgan has a major problem with their massive short position according to GATA. Bill believes that it won’t be long before their role in the market manipulation scheme is exposed. Meanwhile, the silver market maybe the tightest it has ever been to secure physical supply in size, and delivery can take months. Bill Murphy, author of LeMetropoleCafe.com, forecasts the bank will have a problem with its short silver position in the near future. Could it explode this month? He says yes and explains why.
GATA’s Bill Murphy on the JP Morgan Silver Shortage and the next Bullion Bank Run!
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Well Mr. Murphy is laying it all on the line. GATA is convinced their is justice about to happen and they want us to be ready to hear the good news finally. He has been speaking a lot so everyone gets the word. JPM’s days are numbered and manipulation is going to be exposed. Now price that into an ounce of precious metal.
When this cat gets out of the bag all hell is going to break loose. Can’t wait and thank God for helping GATA expose all of this evil in the market. Let the games begin.
I am curious as to what happens then. Does anyone here think that any of this would be possible without the approval of the United States government? If this criminal behavior is exposed will there be any action from the JustUs Department? Unlikely, IMHO. They are VERY selective about who they prosecute for what crimes and much prefer the US to be a nation of men and not of laws. It is difficult for the corruption that feeds them to prosper in a nation of laws.
The cat just jumped 30 cents in 20 minutes, somebody’s listening…
Boinnnggg!
Don’t just wait to thank God. Open your checkbook and write a tax deductable (in the USA) donation to GATA. No other organization has done as much as they have for the fight to restore honest markets in the US and beyond. In fact, corruption of the economic system underpins corruption of pretty much the entire system. GATA’s fight in the precious metals markets extends far beyond just the precious metals market when it comes to how interconnected things are.
I’ve supported GATA and LeMetropole Cafe for over a decade.
Nice interview!! We shall see what happens. Silver is up in Asia. Lets keep it rolling all the way around.
The total lack of control and regulation has let JPM run all over the silver market, their dirty footprints are everywhere. It is time for a cleanup and I hope it is soon. These big banks have messed up the markets for to long at the expense of the small investor. I am sure the big players share insider information to use against the small guys too.
The text that Ms. Lister read from indicates quite strongly that the US and European governments are heavily involved with the criminal PM price suppression schemes of the big bullion banks. The US gets a stronger dollar / weaker competitive currency environment while the banksters get large ill-gotten profits plus a get out of jail free card. Wow… a criminal organization just can’t get anything better than that!
It sure will because of the demand of silver. More people are realizing that it doesn’t make any sense that a precious metal that is getting rare is still valued at 35$ per ounce. So, these people will start buying which drives silver’s price even higher. “Buy silver, crash JP Morgan!”
It is not only possible but highly likely that people will one day think of $35 silver in the same way that we now think of $35 gold. If all this market manipulation and distortion ends, the price of gold could very well go to $10,000 per oz., perhaps even more than that. This is not to say that an oz. of gold is worth $10,000 but that the dollar has been vastly over-printed to the point where it would only be worth 1/10,000th of an oz. of gold. Gold IS the monetary standard and therefore cannot change in value. All else changes in relation to gold. Gold isn’t getting more expensive, money is just getting cheaper so it takes more of it to buy that standard oz. of gold.
As to silver, it is clear that silver is WAY more useful than gold and that there is about a 9:1 ratio of silver ozs. vs. gold ozs. produced. If gold were to go to $10,000 per oz., then silver would likely go to at least $1,000 an oz., if not more. Remember, silver is being mined from ores that are of lower and lower silver concentration. Because of this, more and more ore must be blasted, shoveled, trucked, crushed, processed, disposed, etc. to get that diminishing oz. of silver product. This takes time, labor, equipment, and fuel. As diesel prices rise and more gallons are needed to recover an oz. of silver or gold, these metals MUST rise in price or the miners will be forced to either reduce or halt production to limit the supply, which will cause the metals prices to rise.