Silver Lining: Buy Now

Submitted by SD Contributor Ted Butler:

In the true spirit of transparency and of honesty being the best policy, three weeks ago I wrote to each member of the board of directors of JPMorgan. Since my main intent is to see the silver manipulation ended and not to hurt JPMorgan, I wanted to give them time to respond before publishing the letter. I didn’t want to sandbag or sucker-punch the bank by rushing to make public something I undertook on a good faith basis. If someone at JPMorgan had contacted me indicating the matter was being genuinely reviewed, I would have held off. However, the lack of response suggests to me that it may be business as usual as far as no one in charge moving against a blatant crime in progress. I’m not prepared to patiently wait indefinitely until someone decided to respond.

My allegations in silver are incredibly specificI believe that JPMorgan, by virtue of a massive concentrated short position in COMEX silver futures, is manipulating the price of silver lower than it would be otherwiseIf JPMorgan’s concentrated short position did not exist, the price of silver would be substantially higherIt does not matter if the bank is hedging or engaged in market-making; the mere existence of such an unprecedented large and concentrated short position proves manipulation.

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