Another thread full of STUPID ON STEROIDS.
JPM holds futures contracts for physical producers of silver, MINERS. Those producers 99.99% of the time SHORT. And why is that you may ask? Because they deliver physical product against those short positions.
THERE IS NO HUGE JPM SHORT POSITION HELD BY JPM JUST FOR THEMSELVES.
Miners will sell their stock while it’s still in the ground—much the way farmers will sell wheat before its harvested. So that is not unusual.
I believe the “rumors” are regarding the SLV ETF. Your point the other day that they would have crashed in 2008 had that been the case is valid.
That said, the silver market is thin and competitive as long as the industrial side keeps buying. Silver is a bitch to mine and it is mostly a byproduct of other metals.
I’ve been buying silver and gold regularly since 2000. It’s been up. It’s been down. It’s still buried in the back yard.
I just enjoy a nice mania.
You know they just got levied a billion dollar fine for manipulating the precious metals markets right?