Re: Jamie Dimon's Casino
Posted: Sun Jun 02, 2019 5:57 am
Theadore Butler posted...
In the annals of silver in the modern age, there have been two well-known
instances of very large investor accumulations of the metal. First came
the purchase by the Hunt Brothers and their associates in early 1980,
followed by the purchase by Warren Buffett’s Berkshire Hathaway, 17 years
later. The Hunts were said to control around 100 million ounces of actual
metal (plus another 100 million ounces in long paper futures contracts),
while Berkshire held as many as 129 million ounces.
61515 Now there is compelling evidence of a third great investment accumulation
of physical silver by none other than JPMorgan, one of the most powerful
and connected banks in the world. This accumulation can be dated from the
price peak of April 2011, after silver began what is now a near seven-year
price decline. From zero in April 2011, the amount of silver in the JPMorgan
COMEX warehouse has increased to 120 million ounces. Just about every
ounce moved into the JPMorgan COMEX warehouse over the past 7 years has
come from futures deliveries stopped (taken) by JPM in its own name. JPMorgan
took delivery of 14 million ounces in December and so far, 13 million ounces
have remained in the warehouses from which the metal was delivered. So this
means that JPMorgan now holds more than 133 million ounces of silver in COMEX
warehouses, or more than was held by the Hunt Bros or by Berkshire Hathaway
at their peaks. There was a lot more silver in the world in 1980 and 1998
than there is today, meaning that JPMorgan’s accumulation is much more of
an accomplishment than previous silver acquisitions.
http://silverseek.com/commentary/last-g ... -buy-17047
In the annals of silver in the modern age, there have been two well-known
instances of very large investor accumulations of the metal. First came
the purchase by the Hunt Brothers and their associates in early 1980,
followed by the purchase by Warren Buffett’s Berkshire Hathaway, 17 years
later. The Hunts were said to control around 100 million ounces of actual
metal (plus another 100 million ounces in long paper futures contracts),
while Berkshire held as many as 129 million ounces.
61515 Now there is compelling evidence of a third great investment accumulation
of physical silver by none other than JPMorgan, one of the most powerful
and connected banks in the world. This accumulation can be dated from the
price peak of April 2011, after silver began what is now a near seven-year
price decline. From zero in April 2011, the amount of silver in the JPMorgan
COMEX warehouse has increased to 120 million ounces. Just about every
ounce moved into the JPMorgan COMEX warehouse over the past 7 years has
come from futures deliveries stopped (taken) by JPM in its own name. JPMorgan
took delivery of 14 million ounces in December and so far, 13 million ounces
have remained in the warehouses from which the metal was delivered. So this
means that JPMorgan now holds more than 133 million ounces of silver in COMEX
warehouses, or more than was held by the Hunt Bros or by Berkshire Hathaway
at their peaks. There was a lot more silver in the world in 1980 and 1998
than there is today, meaning that JPMorgan’s accumulation is much more of
an accomplishment than previous silver acquisitions.
http://silverseek.com/commentary/last-g ... -buy-17047