The past few years of silver smashing has been all about letting JP Morgan extract themselves from that Silver short hot potato. That’s why the CFTC has not filed charges against them (yet) for silver manipulation. That’s why the banking cabal has sat on the price of silver this whole time. That’s why Citibank added $7.5B in OTC silver shorts. That’s why sentiment in the silver market has never been worse.
It’s all about extricating JP Morgan from the silver short position they were likely REQUIRED to take on by the US Treasury after the collapse of Bear Stearns.
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%!
Submitted by Bix Weir:
The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. Here’s the latest report showing JP Morgan holding 6,042,752 shares (ounces) increasing their holdings in SLV by 4,819,640 shares or 500%.
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. On a side note I’d like to point out that two other major cabal members shed massive amounts of shares in the same quarter: UBS selling (or transferring to JPM) 7,477,363 and Morgan Stanley shedding 1,186,347. Both are playing the opposite side of the trade to control the price as the cabal trades back and forth to each other.
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.
So WHERE IS THE SHORT NOW?!
Truthfully, I don’t know but there are suspects that cannot be counted out. The prime one is Citibank as I pointed out a while back.
ALERT: Silver Short Hot Potato Being Passed Again
But I believe that plan was stopped as soon as it was noticed by the Good Guys that the Citibank silver derivative book had ballooned. 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.
So where to now? 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.
Obviously, BlackRock would be the leading candidate as it is the largest and currently has full control of SLV as it’s legal Sponsor. They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. Here’s his bio:
Senior Managing Director Senior Director of the BlackRock Investment Institute
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.
From 2007 to 2013, Peter served as co-head and then head of BlackRock’s Fixed Income Portfolio Management Group. From 2005 to 2007 he served as Chairman of BlackRock Asia. 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.
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. 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.
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. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland.
Mr. Fisher’s other current responsibilities include serving as a member of the Strategic Advisory Committee at Agence France Trésor, the FDIC’s Advisory Committee on Systemic Resolution, the IMF’s Financial Institutions Consultative Group and the Google Investment Advisory Committee.
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).
Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985.
The game of rigging the silver market is seemingly endless but that is exactly what we are fighting for…to END the illegal manipulation.
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!
Do yourself a favor…follow JP Morgan’s advice and BUY PHYSICAL SILVER at these low prices.
Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward.
May the Road you choose be the Right Road.