JP Morgan Runs Out Of SILVER!!

Discussion in 'International Current News & Events' started by IrritatedWithUS, Apr 9, 2011.

  1. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    633
    12
    So in case you’re wondering who might be stupid enough to buy silver at $40, chances are extremely high it’s going to be the guys who sold at $15, $20, $25, 30, 31, 32, 33….. On April 6, Bloomberg reported Comex Silver Stockpiles as of April 5, and if you scroll down through the report, you’ll notice that JP Morgan has enough silver to fill, wait for it, 6 contracts. Yep 30,844 troy ounces, that’s all.

    [​IMG]

    Now consider this: Since December, JP Morgan and their customers (whoever they may be) have sold more than 12.2 Million Ounces of physical silver (net). Here’s JP’s activity year-to-date from the Comex report:

    [​IMG]

    I will not insult your intelligence by explaining this any further.
     
  2. ComputerGuy

    ComputerGuy Retired Air Force

    906
    0
    Please insult mine and explain I've got silver
     

  3. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    633
    12
    JP Morgan only has enough silver to write about 6 more shares. The problem is JP Morgan continues to write out silver on paper when they have almost no physical left. They will probably default on MILLIONS of shares. In that case, there will be riots. LOL. If this default came into action, maybe the government would give another government bail-out. I'm sure JP Morgan would want cash instead of silver.
     
  4. ComputerGuy

    ComputerGuy Retired Air Force

    906
    0
    If that does happen, then I will see that some people go to jail
     
  5. davjan4

    davjan4 Member

    12
    0
    Insult us further

    So... silver up or down on this? I'm not savvy enought to know what this means.
     
  6. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    633
    12
    Silver up!!!
     
  7. TrackerRat

    TrackerRat Well-Known Member

    113
    0
    This is why I prefer my metals in hand, of course I accidentally lost them all while kayaking
     
  8. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    633
    12
    ya know, same happened to me the other day. :D DAMN OUR LUCK!
     
  9. ComputerGuy

    ComputerGuy Retired Air Force

    906
    0
    Yeah. NWTM is the bomb. :2thumb: I had physical silver until TrakerRat lost them in a accident