it's a disaster for jpm and hsbc. slv is like a cds for silver written by jpm and hsbc. you lay claims to the counterparty. look at who owns slv... bac, morgan stanley, blackrock and RBC. look at GS and their cds with Aig. GS got 100% on their bet on subprime against aig. jpm and hsbc are both on the too big to fail list... so your actual counterparty is the fed.
go rent wall street - money never sleep. you will get the idea of what bets are about. it like gambling in vegas... if you do large amount in sports gambling... don't go to rio, go to caesar. forget about buying physical... i try lifting an 1000 oz bar at a coin show... it's 65 lbs.