By Richard Russell
According to silver expert Ted Butler, JP Morgan has been keeping the price of silver down by selling paper silver short on the Comex. JP Morgan has a position of 75,000 ounces of silver short on the Comex, and this has kept the price depressed.
In the meantime, JPM has, according to Ted Butler, accumulated 830,000 ounces of physical silver. When JPM halts its short-selling on the Comex, silver should start rocketing higher. Thus, by keeping the price of silver down, JPM has bought a great hoard of silver at depressed prices. This is like a tight spring that is loaded and ready to fire.
The question now is whether the Fed is ready to raise rates. If they’re going to raise rates they should do it this year since raising rates in a presidential election year would have negative political implications.
The other question is whether the US economy can survive ... Log in or subscribe to continue reading.