JPMorgan cuts back on US silver futures

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investorzzo's picture
investorzzo
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investorzzo's picture
investorzzo
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Re: JPMorgan cuts back on US silver futures

More from Zerohedge:

http://www.zerohedge.com/article/jp-morgan-admits-defeat-cuts-silver-sho...

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Jager06
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Re: JPMorgan cuts back on US silver futures

Maybe Chris can add some insght to this, as it is defintely more complex than it appears to be on the surface.

Did JP Morgan float a white flag to get the Max Keiser "Buy an ounce of silver, destroy JP Morgan" campaign to give in?

If this is a false flag, what does that do to the short term price action of the silver market?

If this is for real and JP Morgan intends to unwind it's massive short position, how much bleed over into dollar destruction can we expect?

GIven the current bond market action, could this be the commodity of choice for money fleeing the markets? If so then we are closer to hyperinflation than I am comfortable with.

What will the response of the CFTC be on Thursday? And is this an attempt to front run the CFTC and possibly mitigate any potential position limits that may be imposed?

I think that this will be better, or worse for the price of silver. How is that for straddling? I should be on CNBS!

If this is truly going to happen, JP Morgan and HSBC unwinding thier short positions, then $50 and $100 silver is potentially within 1Q of 2011.

We seem to live in increasingly interesting times. Best of luck to all of you...

Jager06

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Nacci
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Re: JPMorgan cuts back on US silver futures

Further insight:  

     

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investorzzo
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Re: JPMorgan cuts back on US silver futures
Jager06 wrote:

Maybe Chris can add some insght to this, as it is defintely more complex than it appears to be on the surface.

Did JP Morgan float a white flag to get the Max Keiser "Buy an ounce of silver, destroy JP Morgan" campaign to give in?

If this is a false flag, what does that do to the short term price action of the silver market?

If this is for real and JP Morgan intends to unwind it's massive short position, how much bleed over into dollar destruction can we expect?

GIven the current bond market action, could this be the commodity of choice for money fleeing the markets? If so then we are closer to hyperinflation than I am comfortable with.

What will the response of the CFTC be on Thursday? And is this an attempt to front run the CFTC and possibly mitigate any potential position limits that may be imposed?

I think that this will be better, or worse for the price of silver. How is that for straddling? I should be on CNBS!

If this is truly going to happen, JP Morgan and HSBC unwinding thier short positions, then $50 and $100 silver is potentially within 1Q of 2011.

We seem to live in increasingly interesting times. Best of luck to all of you...

Jager06

This link might help: Jon

http://online.wsj.com/article/SB1000142405274870396370457600593307242324...

investorzzo's picture
investorzzo
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Re: JPMorgan cuts back on US silver futures

One more thing. After a number of investment analysts have been informing investors of delays of getting their silver and Gold out of bank vaults, the number of investors asking for the physical PM is growing and may cause a short squeeze as bankers scramble to fill the void. Jon

James Turk and Jim Rickards to name a few

http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html

Jager06's picture
Jager06
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Re: JPMorgan cuts back on US silver futures

One would think that with such great news coming from JP Morgan that there would have been an immediate positive response in the price of silver. A small pop overnight that quickly dropped back to about par for the Asian markets.

This morning is anything but good news, looking at the chart. This is not the response I expected, and I am definitely confused. Is that a rat I smell? Or is it just Blythe Masters sweating away behind the curtain....

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Re: JPMorgan cuts back on US silver futures

 

 It's a fascinating story..  I'm as entranced by the conspiracy/financial woo-woo stuff as anyone..

 

 but long term, I'm really persuaded by the geology... + energy story.. thanks to CM. with a bit of the independence/political via Ron Paul, and the romantic / historical angle...

 since they all point in the same direction.. I'm a bug.

 anyhoo.. mish "pouring cold water" on the "melt the witch" story.. (ironic.. hehe)

 http://globaleconomicanalysis.blogspot.com/2010/12/still-more-hype-regarding-silver-just.html

 and the inimitable William Banzai of ZH with the more fun alternative version...

 http://www.zerohedge.com/article/pay-me-my-silver-now

 

 A century (of ore and energy depletion) after the original greenback/gold standard/silverite war.. I think the hard money (hard energy) side would now favour silver/copper ..

 

 http://www.youtube.com/watch?v=HeTkT5-w5RA

 history doesn't repeat.. it's a palindrome ?

 

 

 

 

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Re: JPMorgan cuts back on US silver futures
Jager06 wrote:

One would think that with such great news coming from JP Morgan that there would have been an immediate positive response in the price of silver. A small pop overnight that quickly dropped back to about par for the Asian markets.

This morning is anything but good news, looking at the chart. This is not the response I expected, and I am definitely confused. Is that a rat I smell? Or is it just Blythe Masters sweating away behind the curtain....

You are probably right to smell a rat.   Given the sequence, where JPM 'announces' they have/are reducing silver shorts in the after market, only to be followed the next morning by an immediate dumpage of silver implies that JPM is doing the usual thing that market makers do; say one thing do another.

Never in all my years have I trusted anything that the big boyz say; almost always they are either talking their book or laying down a smoke trail.

Think of Soros talking trash about gold last December, how he was shorting it as it was over extended, etc, and it turned out he was buying at the time, and you know what I am referring to.

The very idea that JPM would be forthcoming about its activities in the silver market after 30 years of deception and duplicity is naieve.  

I do not pretend to know what's actually occurring right now, but I am also not willing to believe anything coming from JPM's PR department now or in the future.  They have proven themselves to be utterly untrustworthy in all matters and at all times.  

So my inclination to over weight the possibility that they are doing the exact opposite of what they say they are doing, rather than take them at face value.

 

Jager06's picture
Jager06
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Posts: 395
Re: JPMorgan cuts back on US silver futures

Ahhh, the integrity. Not so much in the markets.

Excellent points Chris, thanks for taking the time to respond.

How many times has Corporate mentality been demonstrated to be mob mentality, but more focused in it's destruction of the surrounding citizens?

Silly me for thinking things had suddenly changed!

 

rickets's picture
rickets
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Re: JPMorgan cuts back on US silver futures

This conspiracy theory is so poor.  Mish nails this on the head - thanks for that link Plato1965 (http://globaleconomicanalysis.blogspot.com/2010/12/still-more-hype-regarding-silver-just.html).  Any zerohedge or Max Keiser junkies should read Mish's article - which very easily squashes the theory.  The math simply doenst add up.  The burden of proof is on the conspiracy guys.  How can you read zerohedge and give them any cred when their interpretation (or mis-interpretation) of the FT article last night says JPM admits giant short position.  They took a comment that said something to the effect that JPM is getting smaler in the silver market as proof that they are heavily short and getting crushed.  That is a massive stretch.  I would say a stretch that goes far further in stretching the truth than anything the MSM ever does - - Id say it bends the truth more than anyone Zerohedge constantly makes fun of for misinformation.

Kettle, meet pot.  Remember folks, financial blogs quickest way to attract hits is with conspiracy or hugely negative news.  Good news doesnt sell, and zerohedge, alex jones, and max keiser know it.  Want proof?  go to those sites and look for good positive news.  There is almost none - and there is all the proof you need that they are selling you something.

Food for thought.

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mobius
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Re: JPMorgan cuts back on US silver futures
rickets wrote:

 

[...]Kettle, meet pot.  Remember folks, financial blogs quickest way to attract hits is with conspiracy or hugely negative news.  Good news doesnt sell, and zerohedge, alex jones, and max keiser know it.  Want proof?  go to those sites and look for good positive news.  There is almost none - and there is all the proof you need that they are selling you something.

Food for thought.

Quite right.  I read/listen to those sites, and that's why I'm a little squeemish about going into AG right now.  My gut is telling me: the price will dip, the price will dip...probably between Xmas and New Year's.  I'm a sleepy market trader, I guess you could say.

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