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Why Is JP Morgan Accumulating The Biggest Stockpile Of Physical Silver In History?

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Silver Bars - Public DomainWhy in the world has JP Morgan accumulated more than 55 million ounces of physical silver?  Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver.  Clearly, someone over at JP Morgan is convinced that physical silver is a great investment.  But in recent times, the price of silver has actually fallen quite a bit.  As I write this, it is sitting at the ridiculously low price of $15.66 an ounce.  So up to this point, JP Morgan’s investment in silver has definitely not paid off.  But it will pay off in a big way if we will soon be entering a time of great financial turmoil.

During a time of crisis, investors tend to flood into physical gold and silver.  And as I mentioned just recently, JPMorgan Chase chairman and CEO Jamie Dimon recently stated that “there will be another crisis” in a letter to shareholders…

Some things never change — there will be another crisis, and its impact will be felt by the financial market.

The trigger to the next crisis will not be the same as the trigger to the last one – but there will be another crisis. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997), so-called “bubbles” (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc. While the past crises had different roots (you could spend a lot of time arguing the degree to which geopolitical, economic or purely financial factors caused each crisis), they generally had a strong effect across the financial markets

And Dimon is apparently putting his money where his mouth is.

If Dimon believes that another great crisis is coming, then it would make logical sense to stockpile huge amounts of precious metals.  And in particular, silver is a tremendous bargain for a variety of reasons.  Personally, I like gold, but I absolutely love silver – especially at the price it is at right now.

Over the past few years, JP Morgan has been voraciously buying up physical silver.  Nobody has ever seen anything quite like this ever before.  In fact, JP Morgan has added more than 8 million ounces of physical silver during the past couple of weeks alone.  The following is an extended excerpt from a recent article by Mac Slavo

*****

According to a detailed report from The Wealth Watchman JP Morgan Chase has been amassing a huge stockpile of physical silver, presumably in anticipation of a major liquidity event.

They’re baaaaack. Yes, “old faithful” is back at it again!

Of course, they never really left silver, and have been rigging it non-stop in the futures market, but for awhile there, there were at least no admissions of newly-stacked silver being made in their Comex warehousing facilities.

Yet, after a 16 month period of “dormancy” within their Comex warehouse vaults, these guys have returned with a vengeance.

In fact, our old buddies at JP Morgan Chase, not only see value in silver here, but they’re currently standing for delivery in their own house account in such strong numbers, that it commands our attention.  Let me show you what I mean.

Here’s a breakdown of the Comex’s most recent silver deliveries to JP Morgan:

April 7th: 1,110,000 ounces

April 8th: 1,280,000 ounces

April 9th:  893,037 ounces

April 10th: 1,200,224 ounces

April 14th: 1,073,000 ounces

April 15th: 1,191,275 ounces

April 16th: 1,183,777.295 ounces

This is a huge bout of deliveries in such a short space of time. In fact, within the realm of Comex world, it’s such an exceptionally large amount, that it even creates quite a spike on the long-term chart of JP Morgan’s vault stockpile:

JP Morgan Silver

All in all, JP Morgan has added over 8.3 million ounces of additional silver in just the past 2 weeks alone.

 Full report at The Wealth Watchman (via Steve Quayle and Realist News)

*****

So why is JP Morgan doing this?

Do they know something that the rest of us do not?

Meanwhile, JP Morgan Chase has made another very curious move as well.  It is being reported that the bank is “restricting the use of cash” in some markets, and has even gone so far as to “prohibit the storage of cash in safe deposit boxes”…

What is a surprise is how little notice the rollout of Chase’s new policy has received.  As of March, Chase began restricting the use of cash in selected markets, including  Greater Cleveland.  The new policy restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and  auto loans.  Chase even goes as far as to prohibit the storage of cash in its safe deposit boxes .  In a letter to its customers dated April 1, 2015 pertaining to its “Updated Safe Deposit Box Lease Agreement,”  one of the highlighted items reads:  “You agree not to store any cash or coins other than those found to have a collectible value.”  Whether or not this pertains to gold and silver coins with no numismatic value is not explained.

What in the world is that all about?

Why is JP Morgan suddenly so negative about cash?

I think that there is a whole lot more going on behind the scenes than we are being told.

JP Morgan Chase is the largest of the six “too big to fail” banks in the United States.  The total amount of assets that JP Morgan Chase controls is roughly equal to the GDP of the entire British economy.  This is an institution that is immensely powerful and that has very deep ties to the U.S. government.

Could it be possible that JP Morgan Chase is anticipating another great economic crisis?

We are definitely due for one.  Just consider the following chart from Zero Hedge.  It postulates that our financial system is ready for another “7.5 year itch”…

7.5 Year Itch

JP Morgan certainly seems to be preparing for a worst case scenario.

What about you?

Are you getting ready for what is coming?

  • MichaelfromTheEconomicCollapse

    I was a guest on The Prophecy Hour with Pastor Dan Catlin on Thursday evening, and we had quite a discussion. If you would like to listen to the broadcast, you can find it right here…

    http://branch.podomatic.com/entry/2015-04-23T18_27_07-07_00

    Michael

    • K

      I found this very interesting, thank-you for sharing it.

      • MichaelfromTheEconomicCollapse

        You are welcome K. I don’t often mention my interviews in my articles, but I do want to let my readers know how they can tune in to some of these broadcasts if they are interested.

        Michael

      • GSOB

        This false dichotomy of Israel versus the Church gives rise to all kinds of strange and divers end-times schemes.

        • Guest

          “Ye do err, not knowing the Scriptures.”

          • NotStephen

            America’s obsession with dispensational interpretation of Scripture has led to enormous confusion in the church and in politics. Dispensationalism is, in a word, an aberration.

          • Guest

            Not all premillennialists are dispensational. I’m not.

    • Paul Patriot

      I listened to it, and enjoyed it very much, nice to hear the voice behind the blogs.
      Love ya Brother Michael, I have been very blessed by your blogs and the great info you provide ever since 2008.
      (the year that my eyes were opened to what is really going on, and your blogs have been a large part of that awakening)
      Thank you and Grace be with you and yours.
      ” When the government fears the people there is liberty…when the people fears the government, there is liberty”
      Thomas Jefferson

      • Paul Patriot

        I got my quote wrong, sorry. I know you know, but wanted to correct for those who never heard.
        “When the government fears the people, there is liberty……when the people fear the government, there is TYRANNY”
        Thomas Jefferson

        • tom

          You literally delete your own comment and retype it. But then again you probably buy gold.

          • Information_overload

            And he probably bought it at around $257.

      • MichaelfromTheEconomicCollapse

        Thank you so much for those kind words Paul. It is so good to get some heartfelt words of encouragement once in a while. :)

        Michael

      • tom

        you are an idiot.

        • Stephen

          Tom , You are not only an Idiot , but a sheeple just waiting for a tomb stone……

    • df NJ

      +Let the banks hoard silver. Let the economic collapse come. It will not matter. During the civil war Lincoln created legal tender to fund his war effort. It was interest free money outside the Federal Reserve fractional system. It worked great! People had plenty of money to buy all the goods and services they needed to live their lives with freedom and liberty.

      The decline in money supply between 1929 and 1933 fell 30.9 percent from its 1929 level. If the economy is forced to collapse by the Rothschild all the government has to do is issue legal tender. It doesn’t have to be backed by gold. It just has to be interest free and property of the people. The economic slavery will end when people finally ask for more.

      “An old English judge once said: ‘Necessitous men are not free men.’ Liberty requires opportunity to make a living – a living decent according to the standard of the time, a living which gives man not only enough to live by, but something to live for.

      For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

      Against economic tyranny such as this, the American citizen could appeal only to the organized power of government.”

      Speech before the 1936 Democratic National Convention

      • Nemnor

        “…For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness…”.

        This part of the speech before the 1936 Democratic National Convention, was a more or less accurate description of the socioeconomic system in the USA in the 1930s, and it also applies to the socioeconomic system in the USA TODAY.

        What was “WRONG” about that speech then (in the 30s) and any similar speech describing the socioeconomic issues in the USA today is that almost NO one is stating the OBVIOUS – i.e. that the MAIN root of the issues was the monopoly Capitalist system itself.

        Now get this… It is INTRINSIC to monopoly Capitalism (i.e. a NATURAL progression of Capitalism) that – “…A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real;…” – Just like it is in the USA TODAY and virtually everywhere in this world-wide Capitalist system.

    • Annette Smith

      Yes! Thank you!

    • SunnyFlaSnotress

      I would never do that.

  • GSOB

    Who does J.P. answer to?

    • Mike Smithy

      They answer only to themselves.

      • GSOB

        They answer to the government.

        • CharlesH

          Really? Who wrote the last batch of bills in Congress that directly affected the banks? Answer: the banks. The banks answer to no one – they are the government.

        • Nemnor

          The Capitalist class (“the 1%”) answer ONLY to themselves, and IF you find an exception to that, it is usually only a matter of time before the government is destabilized and overthrown by the machinations of the Capitalist class.

          For instance, from time to time, a POPULAR government is elected (put) into power some where in the world. And even while that government is NOT anti-capitalist and definitely NOT “communist”, they might be aware enough to recognize the excesses of the Capitalists within their own country and the damaging effect of US economic imperialism, and might proceed to put a “muzzle” on Capitalism within their own country (for better or for worse).

          Guess what USUALLY happens next… IF you have been paying attention to REALITY, you would know that, WITH THE HELP of the CIA and the US GOVERNMENT, that POPULARLY elected government (that wants to do something about the excesses of Capitalism and the damaging effect of US economic imperialism) would then be labeled as “socialist/communist”, and eventually, that government is overthrown by a (violent) military coup. (Again, backed by the CIA and the US Government – all in the service and benefit of the Capitalist class, and with the US Capitalist class being the primary “masters”)

  • jsmith

    Yes indeed, why is JP Morgan stocking up on silver? I doesn’t take a brain surgeon to realize what they are up to, and it’s a further cue to those deniers that have been duped to believe silver and gold are relics of the past. Keep on trucking, or should I say stacking?

  • Guest

    Thank you for writing this article. I’ve been greatly discouraged for a couple of years now because of the manipulation of gold and silver prices.

  • mleblanc138

    When Silver hit its all time high of $50 an ounce in 1980, it was because the Hunt Brothers were trying to corner the global physical Silver market. Is it possible that JP Morgan Chase is attempting to do the same thing today?

    • Fakir Smith

      Bingo! We’ve seen it with everything from cocoa to aluminum. Articles like this help. His many of you went out and bought useless silver? Unless you can defend against armed militias roaming America burning and looting buying silver is a fools game.

      • Mike Smithy

        I for one have a well diversified portfolio for survival. I have lots of guns, ammo, food, medical supplies, land, livestock, water and seeds. I plan on using my stockpiled silver as a medium of exchange to purchase provisions that I may need. I am prepared to defend my family to the death against armed militias. However, I would be interested in hearing more about your plan when SHTF.

        • eagle44x

          mike, just wondered in what area you were? if you have land, i have a preliminary design for a water cachement system that i would very much like to see turned into a reality. i have no desire for monetary compensation; seeing it prototyped, depolyed, and working would be satisfying enough..

        • Susan

          I understand you and others are prepared to survive…. but what are you going to survive for? A new world? A better life than what you had? A sad world? I keep imaging the scenes in the movie, ‘The Boy in the Striped Pajamas’. It is all very frightening and is only happening d/t the greed and control of sociopaths. It is very sad….

  • El Pollo de Oro

    The presstitutes have been telling us that The Great Recession is over and that the future will bring us nothing but sunshine and daffodils. But there is no economic recovery. This is a depression, not a recession. We’ve been in Phase Uno of The Greatest Depression, and Phase Dos is going to be much worse. The banksters know that, which is why they’re fortifying their bunkers.

    Preppers are often asked when Phase Dos begins, but instead of trying to put a date on it, the thing to remember is that this is a gradual, long-term, ongoing decline for The Banana Republic of America (fallen empire of the Third World). Peter Schiff has been saying that 2008 wasn’t the real crash, it was merely a prelude. I agree. When the real “fun” hits, it’s going to be nasty.

    “We’re in very bad trouble. There’s no economic recovery.”—Dr. Paul Craig Roberts

    “Our nation’s going down the crapper. Look at the numbers.”—Gerald Celente

    “2015 is going to be a very difficult year for a lot of people.”—Jeff Rense

    “The lesson is Basic Libertarianism 101: government attracts the worst of the worst.”—Justin Raimondo, Antiwar dot com

    “The world that we’re creating for our grandchildren is grim.”—Noam Chomsky

    “God, people are angry right now, and I think it is a sign of overall disaffectedness in our culture in the United States. People are hurting.”—The Patriot Nurse

    “The bodies of the incarcerated poor fuel our system of neo-slavery.”—Chris Hedges

    “The U.S. dollar is not really a currency anymore. It has no
    intrinsic value. The U.S. dollar is just an excuse to commit war crimes.”—Max Keiser

    Welcome to The Greatest Depression. Welcome to Ground Zero in hell.

  • Hans

    Buying silver is good, but don’t buy only silver. Diversify. These guys may be accumulating silver only so they can dump it into the market whenever there is any sign of precious metal prices going up.
    Most of their games are played with fiat money in derivative markets. They have a vested interest in collapsing the price of silver.

    • Rebel

      If it was the case, (That they’re accumulating silver in order to dump it on the market whenever theyre is sign of precious metal prices going up), they would not be discouraging the use of paper money.
      It points more to a coming financial crash in my opinion.

      • Berrnie

        Hans & Rebel, I don’t think that J.P.Morgan or anyone
        holding copious amounts of P.M. are going to trade it for “dollars” (read debt paper). If the SDR basket is re weighted then maybe a SDR or Yuan trade might happen. I also think P.M. gives you a stated value in which to barter with. Maybe that’s why J.P. Morgan, Warren Buffet and others are holding large amounts.

        • Mike Smithy

          Why would they need to trade physical PM’s for paper/digital dollars when they can create fiat out of thin air?

      • Mike Smithy

        I agree Rebel. The bankster don’t need to purchase physical gold and silver to manipulate price. If anything, the last few years have tought us that the banksters can manipulate Precious Metal (PM) prices via imaginary/paper PM’s that exist in Contracts, Options, Futures and Exchange Traded Funds (ETF’s). If you statrt to see the big banks hoarding physical PM’s, it is a strong sign that their engineered crisis is nearing the implementation phase.

    • PhDProfessor

      Why would they want to collapse the price of silver while holding so much of it? They could just as easily collapse the price with paper manipulation.

      • XSANDIEGOCA

        No problema. You just write massive Put contracts before the collapse. They lose nothing and pick up more silver at bargain prices.

      • Hans

        I am not saying that silver is a bad investment. I sure trust silver and gold a lot more than any paper money. It is just that I do not trust any of the big banks that created our current crisis. They may decide to hold silver precisely for the purpose of trying to crush precious metal prices. They will obviously try to first manipulate prices with paper manipulation, but when that does not work any more, it is only possible to dump silver in the market if you actually have it.
        Although they might hold a lot of physical silver, they probably have much larger stakes in paper currency.
        In the long run, any attempts to manipulate the value of silver is bound to fail. However, in the short term they may well succeed to a certain extent.

  • Priszilla

    I just bought me a bicycle.

    • Annette Smith

      I am not far behind you!

    • SunnyFlaSnotress

      I bought me an electric scooter for my birthday that they market to 13+yo. I love it. It’s small and quiet enough to take on the sidewalks and say hi to the neighbors. I want similar in gas power because they go further. At 49cc with it’s near-bicycle styling, I could ride on walkways or roadside w/o a motorcycle endorsement. I don’t really need it tho, I have a car too. Sometimes it’s nice to have car-free transport w/o the pedaling.. especially in the heat here.

  • XSANDIEGOCA

    I think if you take a five year outlook and stock up on gold and silver you will not be disappointed and you will not have to wait five years to reap either. Too many imbalances out there. As Big Al Greenspan said, when the markets get way out of balance (can anyone look at the stock market and disagree?), they tend to correct. Violently! That is when the really big money is made.

  • Jim Clark

    If it doesn’t work out, like it didn’t for the Hunt brothers 30 years ago, us taxpayers can always bail out J P Morgan Chase.

  • alan

    Buy cheap, start a rumor then unload it and profit. The move on to something else.

  • Nemnor

    As you stated – “…JPMorgan Chase chairman and CEO Jamie Dimon recently stated that “there will be another crisis”…”.

    What most people should already KNOW is that crisis (or recession or depression) is INTRINSIC to the world-wide Capitalist system. That there will ALWAYS be “another crisis” (after the last one).

    The system had been in an ON-GOING crisis since late-60s/early-70s (i.e. the end of the “reconstruction boom” following WW-II and at a time when most of the leading economies began to “catch up” to the the USA and compete with the USA fot the world’s limited market and resource). The the crisis of 2007/2008 is just a DEEPENED period of that same on-going crisis.

    One would KNOW that the world-wide Capitalist system is really in a on-going crisis by looking at the gradual general DECLINE in living standard of the mass of the people all over the world.

    The reason for the on-going crisis is – Capitalism itself – which is DECADENT (for some time now), and has reached a “dead end” and is NOT able to create a long-term recovery (from the on-going crisis), BY ECONOMIC MEANS ALONE. Eventually, Capitalism will bring about WW-III, as the system sinks towards total collapse/chaos.

    The permanent solution is obvious to any honest and reasonable (and courageous) person. The ONLY solution is a fundamental change away from Capitalism, to a sustainable alternative system that addresses the ABUNDANT needs of the “RATIONAL” individual (and not just of “the 1%”).

    • Mike Smithy

      The disfunctionality you are witnessing is not CAPITALISM, it is FASCISM.

      • Nemnor

        Mike Smithy, it IS DECADENT Capitalism that has transformed/declined into the various forms all over the world.

        Some call that decadent form “fascism”, others call it “socialism” or “communism” or “welfare(ism)”, but they are ALL varying forms of CAPITALISM in it’s DECADENT stage.

        The “real”/”pure” Capitalism you are imagining was more so when Capitalism was on the rise, when it was a PROGRESSIVE force, as it moved the world away from a general Feudal/Agrarian economy to a general Capitalist economy.

        However, from about 100 years ago, Capitalism became decadent (and the history of TWO world wars, intermingled with a series of recessions or depressions and a number of major regional wars, are irrefutable evidence that the world-wide Capitalist system had entered the stage of decadence).

        Those who are not yet aware that Capitalism (in it’s various forms today) IS the main root of the major issues facing the world, are unintentionally part of the problem, and ALL efforts to change things for the better will mostly be in vain.

  • Mike Smithy

    Well of course another crisis is on the horizon Mr. Diamond. You and your bankster class ilk are the ones creating it by design. I am going long on pitchforks and rope. I encourage everyone to continue to stack phycical silver and gold. At some point in the not too distant future the bankster created crisis will crash stawks by design.

    • Nemnor

      Mike Smithy, crises are NOT created by design.

      While the decisions/actions of powerful individuals or group of individuals, worlds leaders and whole country might indeed aggravate (even “trigger”) a bad situation, it is the world-wide Capitalist system itself, by it’s INTRINSIC nature, that is sinking into DEEPENED crises from the ON-GOING crisis the system entered into since late-60s/early-70s.

      The reason for another (deepened) crisis (and the next crisis following the next crisis), is because the world-wide Capitalist system is at the stage of decadence and has reached a “dead end”, and is NOT able to generate long-term recovery by economic means alone.

      Hence, eventually, the system will be “compelled” to bring about WW-III as world-wide Capitalism continues to sink towards total collapse/chaos.

      What many labeled as “Fascism” or “Socialism”, or “Communism” or “Welfare(ism)”, are ALL manifestation of Capitalism in it’s DECADENT form. Governments and the military get more “involved” in “managing” the economy BECAUSE Capitalism became decadent – as they VAINLY attempt to “save Capitalism” (even from itself).

      The “pure”/”real” Capitalism that some are imagining, can NEVER come back, because world-wide Capitalism is by NATURE, ultimately UNSUSTAINABLE, and has already passed its progressive stage, and is now on its irreversible decline towards total collapse/chaos.

      The permanent solution is obvious to any reasonable and honest (and courageous) person – who becomes ware that capitalism is the MAIN root reason for the major issues facing the world. The ONLY permanent solution is a fundamental change away from Capitalism to a sustainable alternative system that addresses the ABUNDANT needs of the “rational” individual (and not just of “the 1%”).

      • 35wormhole

        so you want communism

        • Nemnor

          35wormhole, I want a SUSTAINABLE system that addresses the ABUNDANT needs of the “rational” individual (not just of “the 1%).

          This is the ONLY way we will have true peace and the chance of true love among the Human Race. Anything else will always FAIL

          IF I say it IS communism, or, it is NOT Communism, I will only be speculating, as ANY fundamental and GENUINE change away from Capitalism must NECESSARILY go through a transitory/experimental/discovery stage, before one can KNOW what works. However, I have faith in the “collective intelligence” of the Human Race – IF given a GENUINE democratic environment to find solutions for any problem that may arise.

          Capitalism, by it’s INTRINSIC nature can only provide TRUE abundance for a (shrinking) minority (i.e. “the 1%”) and with an expanding EXPLOITED mass of people seeing their living standard DECLINE decade after decade, and with more and more people sinking into abject poverty. So Capitalism is definitely NOT the way for the future.

      • Mike Smithy

        Free Market Capitalism is the most efficient and virtuous economic system ever devised pursuant to unleashing human capital and has been the mechanism for lifting billions of people out of poverty. It maximizes opportunities for people to exercise creativity, innovation and initiative. Conversely, Communism and Socialism offers zero incentive for people to exercise the aformentioned vitues. Capitalism fosters self reliance and to take pride in their accoplishments while creating wealth and maintaining ones dignity. Big government Socialism and Communism can’t do that. Lastly, for those unable to take care of themselves, Capitalism is compassionate as it offers an efficient way of creating safety nets through private charities.

        • Nemnor

          Mike Smithy, what you do not yet understand is that, basically when the world moved away from the Feudal/Agrarian socioeconomic system, it was then replaced by Capitalism. It was Capitalism when it was on the rise and in it’s progressive stage that moved the world away from the Feudal/Agrarian system.

          Now get this – from since Capitalism established itself (from about 500 years ago), we NEVER had any other system but Capitalism to this very day.

          What you refer to as Socialism or Communism (and I guess you are referring to places like the former Soviet Union or present day China, Cuba, etc.) are really varying forms of CAPITALISM – more accurately defined as “State/Collective” Capitalism (more or less), as a manifestation of Capitalism in it’s decadent stage.

          State/Collective Capitalism is indeed a senile form of Capitalism – it is a character of Capitalism in DECADENCE and can not be compared to when Capitalism was on the rise or even the most developed present-day Capitalist countries (but which are ALL ironically on a DECLINE towards total collapse/chaos – regardless to how developed/advanced they are.

          The “socialism” or “Communism” you were led to BELIEVE existed, NEVER was realized anywhere in the world. It was (and is) virtually impossible for any single country (or even a group of countries) to really move away from Capitalism, while the world is dominated by Capitalism, and when the most advanced Capitalist countries would do everything in their powers (even bring the world to war) to prevent ANY country from moving away from Capitalism.

          However, what is more important for you to understand is that Capitalism is indeed decadent, and has reached a “dead end”, and is now NOT able to bring the Human Race into a prosperous future for all (and not just for “the 1%”).

          Irrespective of all the “nice” things you said and seem to “feel” about Capitalism, the system is now DECADENT, and the future of the world under DECADENT Capitalism is massive world-wide poverty and massive world-wide destruction (through wars, environmental collapse and economic collapse).

          The TRUTH of what I state will become more and more obvious to you, as the years go by and the system continues to DECLINE towards total collapse/chaos (or as the system generate WW-III in the hope of avoiding total collapse).

          • DeeDee

            Capitalism is just a system. It by itself is not evil. A lack of morality is what poisons capitalism. A lack of morality is exactly why our economy is collapsing.

  • Alan

    What is the best place to buy silver?

    • jsmith

      When hunting for ducks you have to go where the ducks are. Erwin Rommel.

      When shopping for silver you have to go where the silver is: Coin shops.

    • Gay Veteran

      buy pre-1965 American half dollars, quarters, and dimes.
      do not buy bars, too easily faked

      • df NJ

        Measuring specific gravity is very easy to do.

  • hon788

    Its still in a free fall, they are buying to trade with, that’s all.

  • DJohn1

    I think anyone going for silver or gold should look up the Hunt Family disaster in Silver in the 90s. The Federal Securities Exchange or some such agency put silver trading on hold and bankrupted the entire Fortune in Silver. I am really ignorant except for what I read in the newspapers of the time.
    I still maintain that commodities usable by the average person might be the way to go.
    Cat food recently took a huge jump in canned food at the grocery this week. It went from 76 cents to a 1.08 per large can. Happened over night.
    I just wonder how many other goods will take that percentage increase in the following weeks.
    Something definitely smells fishy to me. Pun intended.
    I think those jumps might be a violation of law(not enforced by Obama administration) if we are indeed still at war.
    Officially we are probably not.
    But if not, bring all the troops home.

    • Orange Jean

      I have noticed a major price in ALL grocery items over the past month or so… each individual price not so big, but overall it adds up.

  • Chris Sky

    JP Morgan is accumulating silver for the same reason every smart person is…. because all the “fiat” currencies from the dollar to the Euro are destined to be worthless!

  • OldUncleDave

    All that buying yet the price went down. I suspect they were shorting in the paper (imaginary) market to bring the price down while buying in the physical market.

    • Chris Sky

      They literally “choose” the silver price each morning.

  • Christian Man

    Very Odd

  • Mondobeyondo

    Remember that holiday special, “Rudolph the Red Nosed Reindeer”? Burl Ives (the narrator snowman guy) sings a song about halfway through, called “Silver and Gold”. Don’t know why that song comes to mind. Oh yes, I do.

    The price of silver and gold are way, way low right now. It’s not going to stay that way. If you have the cash (Federal Reserve notes) available to buy some precious metals – do so.

  • First Amendment

    They are manipulating the market, we all know that.

  • GSOB

    Joshua 21:43-45, And the LORD gave unto Israel ALL the land which he sware to give unto their fathers; and they possessed it, and dwelt therein. And the LORD gave them rest round about, according to ALL that he sware unto their fathers: and there stood not a man of all their enemies before them; the LORD delivered ALL their enemies into their hand. There failed not ought of ANY good thing which the LORD had spoken unto the house of Israel; ALL CAME TO PASS.

    • df NJ

      Ezekiel 16:49
      “Behold, this was the guilt of your sister Sodom: she and her daughters had pride, excess of food, and prosperous ease, but did not aid the poor and needy.”

  • watchmannonthewall

    Michel, just finished listening to the presentation you gavd at Prophesy Club. Agree with ll that you said. Bless

  • watchmannonthewall

    Michael, Just finished listening to your presentation to the Prophesy Club, by DVD. Agree with all that you said! ALL! Grace and Blessings to you for being so forthright!!!
    Why is JPMorgan aqcuiring silver? I have a school textbook from my grandfather’s day, the “Jr” high school grades WRITTEN in 1923 that speaks of the debate and CONFRONTATION occurring in the late 1890’s that reviews the debate throughout American politics about whether GOLD or SILVER should be the official currency of the American nation or not. Perhaps this is why JPMorgan is aqcuiring silver. THEY may have decided that silver should be the “NEW” standard pricing for goods rather than gold, which the election of the day (1896?) determined, thus throwing a curveball at the Chinese and others. This would fit with other analysis done by financial gurus who have questioned the same! I also am an MSF from a Austrian background!
    This would give them (TPTB in the US) leverage in determining how the new “World Currency” will work: value be determined (SDR’s?)!! It seems apparent that OUR western nation has abandoned gold, but silver might give IT some leverage to influence the outcome of the new currency! Yes?
    Abraham bought the field and cave of Machpelah with silver. I am gong with God, and Abraham!! Frankly, I don’t have the $ for gold!

  • Tosheba

    I remember someone saying something years ago that is stuck in my memory; i am paraphrasing here: “When you speak of J.P. Morgan you might as well say The United States government.”

    • df NJ

      Having faith in an omnipotent being is easy. How can you lose. But having faith in each other, now that takes some serious faith. Say the bankers succeed is crashing the economy. All the government has to do is issued legal tender and people will have all the money they need for goods and services. Faith in the people’s legal tender, that is, faith in each other, is all we need. It doesn’t have to be backed by gold. We just have to choose to have more for ourselves.

  • LibertarianUSA42

    Invest in AGQ and NUGT, these have the potential to return 40x their present value if we hit the $48 highs. But what if Silver goes parabolic and becomes worth $200 an ounce? than we are talking 200x whatever you put in.
    Obviously we all have pms in personal possession, but this is the make you wealth play of the generations!

    • jay dee

      AGQ is a 2X fund. If silver goes to $32 you will double your money. If if it goes to $64 you will make four times your original investment. At 128 you will make (only) 8 times your money.

      • LibertarianUSA42

        Do you not remember it going to 1500?? Divided by the price today that’s 35X whatever you put in. If silver goes higher than $50 it will also go higher.

      • socalbeachdude

        Silver is of NO RELEVANCE whatsoever and is a PLUMMETING COMMODITY rapidly on its way to its mean of $8 per ounce and then headed lower.

    • socalbeachdude

      Silver Price and iShares Silver Trust (SLV) Going to $12

      Kyle Bass, the manager of the $2 billion Hayman Capital agrees with us: “I’d Much Rather Own Gold Than Paper”, Bass said. Long-term silver is probably a buy but medium-term there is so much risk. The charts show that the support for silver lies at about $12 for futures and $12.5 for iShares Silver Trust (SLV).

      • LibertarianUSA42

        I read that, was a very good read. I am a long term investor for pms. I do entertain the down trend in pms, but there are several factors that prevent the Big Banks from plunging precious metals:
        Brexit, Grexit, War with Russia/Iran, Economic meltdown. But no matter what long term the pms will go up, simple supply and demand (peak mining).

  • df NJ

    Let the banks hoard silver. Let the economic collapse come. It will not matter. During the civil war Lincoln created legal tender to fund his war effort. It was interest free money outside the Federal Reserve fractional system. It worked great! People had plenty of money to buy all the goods and services they needed to live their lives with freedom and liberty.

    The decline in money supply between 1929 and 1933 fell 30.9 percent from its 1929 level. If the economy is forced to collapse by the Rothschild all the government has to do is issue legal tender. It doesn’t have to be backed by gold. It just has to be interest free and property of the people. The economic slavery will end when people finally ask for more.

    “An old English judge once said: ‘Necessitous men are not free men.’ Liberty requires opportunity to make a living – a living decent according to the standard of the time, a living which gives man not only enough to live by, but something to live for.

    For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

    Against economic tyranny such as this, the American citizen could appeal only to the organized power of government.”

    Speech before the 1936 Democratic National Convention

  • tom

    Be sure to drink your Ovaltine…oh and buy Michael’s DVDs

  • forestgump

    Because they can drill Sargent sir

    • df NJ

      It’s really strange that many of the military exercises being done on 9/11 the scenarios where exactly what happened on 9/11. It’s just a really strange coincidence. Nevermind, go back to sleep.

  • SunnyFlaSnotress

    The stockpiling of silver sounds like a political/financial maneuver. Silver is fairly plentiful in some areas such as Mexico, Australia,Peru, and China. There’s also waste silver in electronics. Bubbles can be made of anything..such as Tulip Mania. Silver certainly is a useful metal, but maybe its value is more in the eyes of the chief bank investers than the world at large.

    • df NJ

      I think the implication is total economic collapse is therefore immanent.

      • socalbeachdude

        Obviously not. Helllllllllllllllooooooooooooooo?

  • Information_overload

    Why would I buy a lot of silver? Well, to resell it at a later and higher price? Why would JPM buy a lot of silver? Well, to resell it at a later and higher price, just like me…. UNLESS…

    What would preclude JPM to actually SELL when the financial crisis hits, only to pick up an endless supply when it finally bottoms out at around $6/oz.
    Don’t forget they are still acting on behalf of the U.S. government in attempting to keep the impression of the value of the dollar at artificially higher levels in the eyes of the world. They really don’t need the money, which can be reimbursed by the U.S. government.

    I may not have this right, and I hope I don’t, but I still don’t trust them.

    • socalbeachdude

      False. The total val8ue of all o the silver ever mined and in existence is SO SMALL AS TOBE LAUGHABLY TRIVIAL and nobody handling major sums of money would have the slightest bit of interest in little tiny niche collectible fungible commodity junk like silver.

      As to your assertions regarding the US dollar,those are as bogus as a $3 Euro.

      Those are extremely stupid and totally false assertions.

      THE VALUE OF ONE US DOLLAR IS $1.00.

      The RELATIVE VALUE of $1.00 can be measured by its 1) exchange rate value against other currencies or a currency basket such as the DXY, and 2) purchasing value against commodities and other goods.

      Over the past year the US dollar has soared 22% in value and has skyrocketed as much as 100% in value against a number of commodities including oil.

      As to gold, the value of the US dollar has literally SKYROCKETED AGAINST THE VALUE OF GOLD BY AROUND 80% OVER THE PAST 4 years while the price of gold has PLUMMETED BY 40%. Gold is an EXTREMELY VOLATILE AND WILDLY UNSTABLE COMMODITY IN TERMS OF PRICE WHICH IS DRIVEN BY MANIC SPECULATION as has been the case since its price was allowed to float on the commodities exchanges back in 1972.

      As to silver, it is FAR WORSE THAN GOLD IN VOLATILITY and the value of silver has plummeted 68% over the past 4 years from $50 per ounce in April 2011 to $16 per ounce today while the purchasing value of the US dollar against silver has SKYROCKETED BY 136%.

      The dollar is headed much higher as it is extremely undervalued. Expect it to soon be over 100 on the DXY and headed up into the range of 120 to 140 on the DXY with it possibly going as high as 164 where it last was briefly in 1985.

  • jay dee

    A couple of points about Chase’s policy. I think people are getting a little over-exercized about the significance of this. First of all, I think we can agree that all silver and gold coins and bullion have collectible value. Any coin worth more than it’s face value is obviously collectible. By the way, their notice says nothing about banning precious metal bars. Secondly, how are they going to enforce this edict? If you want to hide cash in your box, how would they know? I believe they had a couple of things in mind when they made these rules: 1) they somehow think they are fighting terrorism and drug trafficking, and 2) it may limit their liability in the event of robbery or other loss.

    • socalbeachdude

      Bullion metallic coins have no “collectible value” at all and only NUMISMATIC COINS have any collectible value.

      • jay dee

        I don’t know how you can say that. I have a gold American Eagle with a fifty dollar face value worth about $1200. I think most people would say it has “collectible” value. Perhaps you’re thinking about the FDR confiscation when they used a strict definition of numismatic collectible value. But now that gold coins are worth far more than their face value, I think it’s pretty clear they have collectible value. I find one definition of collectible as follows:

        an object suitable for a collection, originally a work of fine art or an antique, now including also any of a wide variety of items collected as a hobby, for display, or as an investment whose value may appreciate.

        • socalbeachdude

          Bullion coins have NO NUMISMATIC VALUE AT ALL and are VALUED BASED ON THEIR BULLION CONTENT with a very slight premium of no more than 5% to 10% maximum above the current value of their bullion content.

          NUMISMATIC VALUE only applies to very high quality UNCIRCULATED or PROOF COINS which have a numismatic value often FAR ABOVE THEIR BULLION VALUE.

          As to collectibles, just about anything is collectible including Beanie Babies, collectors plates, and all sorts of other items including abject junk.

  • http://www.ThePowerElite.com/ ThePowerElite

    Trust The System … Pay Your Taxes

    • Stephen

      Trust what? Another sheeple waiting for a head stone…………..

  • Veronica Mulberry

    JP Morgan Chase’s recent foray into the soft silver market conjures several scenarios. The first, and most obvious, scenario is an attempt to “corner the market” by forcing the price of silver through the roof, then selling while the price is at its peak. History has a precedent for this tactic: the Hunt brothers manipulated the silver market in the 1970’s in an attempt to corner the market. Personally, I don’t believe JP Morgan Chase is attempting to corner the silver market. However, I do see the possibility of them manipulating the silver market in order to keep the price low so they can make investments in the precious metal until a target dollar amount is reached. I see JP Morgan Chase holding on to their silver assets which will then be used as future collateral for other non-precious metal investments or underwriting projects. If JP Morgan Chase’s future investments/projects go well, the price of silver will stay low. If their investments/projects go bad, the price of silver will climb to offset increased debt. It’s the perfect hedge for risky ventures. Is JP Morgan Chase anticipating a major economic meltdown? No. Their silver investment is nothing more than a form of insurance against fluctuating Wall
    Street markets. The most disturbing scenario I find in all of this is that, in the future, JP Morgan Chase will be able to dictate the price of silver as they see fit to suit their needs. They will, after all, be the King of Silver, and if they say “frog” the price will jump.

    • socalbeachdude

      Nope. JPMC couldn’t give the slightest bit of a hoot about a little overpriced junk commodity as silver.

  • socalbeachdude

    JPMC couldn’t give a rat’s tustushka about silver and is well aware that that fungible little junk is on its way to its mean of $8 per ounce and then headed substantially lower.

    • Stephen

      You are just another sheeple waiting for a head stone…………or , is your head stoned?

      • socalbeachdude

        Are you seriously THAT STUPID, dude? Silver is of NO RELEVANCE whatsoever and is a PLUMMETING COMMODITY rapidly on its way to its mean of $8 per ounce and then headed lower.

  • socalbeachdude

    Jamie Dimon is one of the very best bankers in the business these days and has no interest in silver and JPMC IS EXITING THE COMMODITIES BUSINESS AND UNWINDING HOLDINGS THEY HAVE OF PLUNGING COMMODITIES..

    • useless eater

      I thought you said he was one of the best.

      “JPMC IS EXITING THE COMMODITIES BUSINESS AND UNWINDING HOLDINGS THEY HAVE OF PLUNGING COMMODITIES including plunging debris like silver.”

      • socalbeachdude

        Huh? Jamie Dimon is one of the very best bankers in t he world and very bright and is highly aware that COMMODITIES ARE A PLUMMETING DEAD END which is why JPMC is IN THE PROCESS OF EXITING THE COMMODITIES BUSINESS.

  • Robert

    US Central Bank printed money, and now they gave that bogus money to JPMorgan Chase to buy silver.

  • gerald

    I wonder if JP were benifited through f.r or other source (government )they could manipulate silver to the down side to any degree

  • tomejoe

    capitalism; where the rich get richer and the poor get poorer-money is God

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