In Jim Cook's Archive


When silver rose from $1.31 in 1972 to $5.80 in 1974 we were amazed. Imagine our shock in early 1980 when the price rose to $49 an ounce. If silver rose to $650 an ounce in the months ahead you would experience the same thing we did in 1980. Is it possible we could see something like that today? I think it’s entirely possible. JPMorgan must think so because they have acquired way more silver than did the Hunt brothers who fostered the 1980 silver boom. Furthermore, less silver exists above ground today than did back then.

The fact that the foremost bank in America is maneuvering and manipulating to acquire the biggest physical silver hoard ever known is certainly bullish. The fact that they continue to aggressively acquire silver after eight consecutive years of silver hoarding indicates an enormous affinity and appetite for silver. They must expect the price to rise. They have drained the above-ground supply into their own coffers, creating the possibility of a silver shortage for industrial users and investors. I think it’s safe to assume that JPMorgan plans on harvesting an enormous profit on its silver holdings.

Why didn’t JPMorgan put their billions that went into silver and gold into stocks and bonds or other assets? It has to be because they have studied the bullish aspects of silver and they believe they can make more money in silver than anything else. They must believe that silver will be the best performing asset of all. They must expect to eventually see a rerun of 1980. They are getting close to owning a billion ounces of silver. That means if silver rises $10 an ounce, they make ten billion. At $100 an ounce, they make one-hundred billion. And at $500 an ounce, $500 billion. At $1,000 an ounce, JPM’s silver would be worth a trillion. That’s why they own silver and that’s why you should own it too.

Start typing and press Enter to search