Silver's Up: A Happy Ending for JP Morgan?
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Silver's Up: A Happy Ending for JP Morgan?
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Another week, another 40 million ounces of silver were deposited into silver ETFs. That’s on top of the 300 million ounces that have gone into ETF’s the last four months!
Is that what’s nudging silver prices? “Partially,” says silver analyst, Ted Butler, Butler Research. “On top of dwindling investment silver inventories, industrial silver could soon fall in short supply, igniting some panic buying among manufacturing users, sending prices even higher!"
Butler believes JP Morgan has been hiding behind the supply chain curtain all along, stockpiling hundreds of millions of ounces for years, thereby manipulating the price down.
Listen in to learn about a secret settlement with the Justice Department, whereby the Big Bank could avoid prosecution by beginning to release its silver reserves into the marketplace. "And as long as the price continues to go up, everybody’s happy... it’s a happy ending!" Butler says.
Also be on the lookout for “price sell-offs along the way,” Butler advises, if prices rise too quickly from here. It could be an opportunity to beef up your current position.