I like to know how they get the money to pay such premium. If they keep doing that, won’t they go bankrupt? So why keep selling futures that they can’t deliver? I find it unbelievable
The Fed has been backstopping the precious metals price suppression scheme for nearly 30 years in order to make the dollar look stronger and keep it as the world’s reserve currency. No one is going to go bankrupt if the central bank is backing you up.
From the "shorts", those who have sold the contracts. It's rumored that JPMorgan is the largest seller of silver contracts. It's also rumored that they are working in conjunction with the central banks flush with newly printed cash.
Because if this is true, it is a form of Ponzi scheme. And Ponzi schemers have to keep playing until the entire scheme falls apart. They keep thinking they’ll figure a way out.
The only way out at this point is if the price of silver crashes back down to $15 an ounce or so and stays there for a few months until most of these contracts end.
Federal Reserve. They have been funneling money into JP Morgan Chase to buy short contracts to restrain silver to try prop the dollar up.
The Federal Government is fully covering the losses of the big banks like JPM who are losing millions in their short silver contract positions.
Their currently resides no transparency (read accountability) in any United States big bank.
When the banks had the government suspend mark to market all legitimate credibility of US banks went up in smoke.