In Jim Cook's Archive


(I believe that what Theodore Butler has discovered about JPMorgan and the silver market is true. And if it is true, then so is the following.)

You would think that the heating up of our economy would cause industrial metals like silver and copper to rise in value. In other words, you would expect supply and demand factors to influence price. That’s the way markets are supposed to work. However, that’s not the case; especially with silver. Anyone who reads this newsletter knows the reason why. Several big banks led by financial giant JPMorgan hold down the price by selling great quantities of silver on paper in the futures market. Unfortunately that sets the price.

We should reflect a moment on how profound this intrusion into the precious metals market really is. It negates any influence silver miners and silver users have on the price thereby distorting what’s produced and what’s used. Over the long term it injects factors that lead to shortages and miscalculations. Most of all it is unprecedented in the history of the world to have huge banking speculators setting the prices of commodities rather than the markets. What’s equally disturbing is that the laws governing commodity transactions are intended to prohibit such activities.

Even more astonishing is that while selling enough silver on paper to suppress the price, JPMorgan was simultaneously accumulating billions of dollars’ worth of physical silver. In effect JPMorgan applied a price control to the silver market while acquiring the greatest private hoard of silver ever known. You can be sure they are fully aware that when a price control is lifted the price of the controlled item generally explodes upward. The potential gains for the big bank are truly earth shattering.

What is even more astonishing is that JPMorgan has been able to do this without any publicity or widespread knowledge by the public. They have kept it secret from the politicians, the media and the people. Somehow they even managed to keep the regulators silent. Assuming that they make the kinds of profits that are possible in both silver and gold, their precious metals ploy will be the greatest financial maneuver in history. It’s truly one for the ages.

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