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Offline kenCode

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Why Is JP Morgan Accumulating The Biggest Stockpile Of Physical Silver In History?
Original Post by Michael Snyder | Economic Collapse on April 25, 2015 
 

 
Why 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(1), JP Morgan Chase chairman and CEO Jamie Dimon recently stated that “there will be another crisis”(2) 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(3)...
 
*****
 
According to a detailed report from The Wealth Watchman(4) 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:


 
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(5) (via Steve Quayle(6) and Realist News(7))
 
*****
 
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(8] 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(9) 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”(10) 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(11). It postulates that our financial system is ready for another “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?


Sources:
(1) theeconomiccollapseblog.com/archives/the-six-too-big-to-fail-banks-in-the-u-s-have-278-trillion-dollars-of-exposure-to-derivatives
(2) shtfplan.com/headline-news/there-will-be-a-more-volatile-crisis-jpmorgan-chief-signals-coming-financial-tsunami_04102015
(3) shtfplan.com/headline-news/report-jp-morgan-chase-prepares-for-crisis-by-stockpiling-silver-an-exceptionally-large-amount_04242015
(4) thewealthwatchman.com/why-is-this-bank-stockpiling-silver-like-theres-no-tomorrow/
(5) thewealthwatchman.com/why-is-this-bank-stockpiling-silver-like-theres-no-tomorrow/
(6) stevequayle.com/
(7) youtube.com/watch?v=-C8HxZLfd-I#t=15
(8] mises.org/blog/chase-joins-war-cash
(9) cleveland.com/business/index.ssf/2015/01/chase_to_restrict_cash_payment.html
(10) theeconomiccollapseblog.com/archives/tag/too-big-to-fail
(11) zerohedge.com/news/2015-04-24/75-year-itch-starts-next-week
Original article: www.infowars.com/why-is-jp-morgan-accumulating-the-biggest-stockpile-of-physical-silver-in-history/
See also: youtu.be/zLZIgCcXfvk

« Last Edit: April 28, 2015, 08:07:07 AM by kenCode »
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Offline fuzzy

God I love silver...those bars make me nearly foam at the mouth.
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Offline triox

So what does silver do that gold doesn't?

Let me elaborate: the 'alternative' financial media have been feeding us the story about the imminent silver breakout and historical silver/gold ratio for the better part of the last decade.

But logically, what is the case for silver in a digital era?

I could understand silver having monetary component of value when money had to be physically handled in day to day commerce and people needed something for small transactions.
But if  someone was to go back to using commodity money today it would more than likely be infinitely divisible electronic money backed by physical holding in a vault somewhere. In that case you might as well use gold, or some basket of commodities, indexes, etc. There's just nothing unique or magical about silver anymore.

Offline kenCode

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Gold is pretty, but I think silver has more utilitarian value. It's more conductive, it's used in many different medical treatments, it's used to make mirrors, solar cells, thermal radiation, water purification, low-emission glass coatings, chemical stabilization, bacterial growth inhibition in clothing... They're both awesome, but then again so is plutonium. It just depends on what ya need it for.
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Offline Empirical1.2

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So what does silver do that gold doesn't?

Let me elaborate: the 'alternative' financial media have been feeding us the story about the imminent silver breakout and historical silver/gold ratio for the better part of the last decade.

But logically, what is the case for silver in a digital era?

I could understand silver having monetary component of value when money had to be physically handled in day to day commerce and people needed something for small transactions.
But if  someone was to go back to using commodity money today it would more than likely be infinitely divisible electronic money backed by physical holding in a vault somewhere. In that case you might as well use gold, or some basket of commodities, indexes, etc. There's just nothing unique or magical about silver anymore.

Unfortunately you can't trust a vault. How much gold does fort knox have? How much gold does BOE have? How much has been rehypothocated?

National currencies may end up being backed by a certain % of gold holdings but the general public will place their trust in physical. As we can also expect crushing taxes on PM's/Any medium of exchange and possible confiscation in some jurisdictions, only physical will do. Silver generally circulates as money as it is cheaper, while gold is too valuable to be used in day to day trading even in amounts as small as 1 gram.

Mexico is potentially considering remonetising silver in some capacity -

Quote
Mexico is remonetising silver. A one-ounce pure silver Libertad coin will function in parallel to (and be interchangeable with) the existing paper peso. Banks will value the Libertad daily, based upon the silver price. Thus, Mexico will create a legal way for its citizens to protect themselves against devaluation of the peso, whilst creating an internal protection against currency crashes in other countries.


http://www.internationalman.com/articles/the-mexican-libertad-the-currency-solution

Also the metrics of silver are very compelling there is just not a lot of it around. Unlike gold not a lot of it is recycled and only a small increase in global demand is required. For example, India restricted Gold a few years ago, silver imports started increasing, to the point that they were forced to place restrictions on that too, which was very interesting as from a $ POV, the silver imports are by comparison negligible on their CAD so the most likely reason was to prevent too much increase in global physical silver demand.

I will try to find some relevant metrics on silver and post them here sometime.

At the same time at these prices, having much physical is not very realistic, so BitSilver is a fantastic way to hold the value of silver in quantity, privately and across borders.

Edit: Surprised this topic was moved to trading discussion. You'd think a compelling discussion on why you'd want to own BitAssets could stay in the general area.


« Last Edit: April 28, 2015, 12:49:37 PM by Empirical1.2 »
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Edit: Surprised this topic was moved to trading discussion. You'd think a compelling discussion on why you'd want to own BitAssets could stay in the general area.

Well, that's where your thoughts should to be if you dare post anything without I high pray ( and kneel down) to the great James (jl777)!


Offline Ander

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Buy BTS.

After it rallies buy BitSilver. :P
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Offline kenCode

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Buy BTS.
After it rallies buy BitSilver. :P

Yep, I'm buying both.
 
BTS is poised for a larger % to the upside than bitSilver, but once JPM loses their price suppression abilities then we'll start to see silver going up at a faster rate than BTS for a bit. I don't think I made any sense with that statement lol ;)
 
I'm just gonna keep flippin and flippin and flippin :)
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Offline Ander

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Crypto is the new silver. :)
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Offline fuzzy

Crypto is the new silver. :)

It is in many ways.  But I still like Physical.  It has its own purpose...though like bullets, I hope I'll never have to use it.
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Offline fuzzy

Buy BTS.
After it rallies buy BitSilver. :P

Yep, I'm buying both.
 
BTS is poised for a larger % to the upside than bitSilver, but once JPM loses their price suppression abilities then we'll start to see silver going up at a faster rate than BTS for a bit. I don't think I made any sense with that statement lol ;)
 
I'm just gonna keep flippin and flippin and flippin :)

No it makes perfect sense.  If it is true that China has been hoarding Gold behind the scenes and has anywhere near the numbers I am hearing, just a statement for them to back their fiat with Gold would probably put JPM in a position where they could significantly profit off of Silver. 
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