Remember the video of the Blythe Master/CNBC fantasy skit about JPMs silver position? Ted (My Hero) Butler has posted his thoughts on the subject. He also has included a link to the CNBC video in his comments. Here's the link to Ted's piece:
Hello dbt: We've discussed this in the past, but I am just as hard-headed as you are. Yet, I do change my script from time to time while you seem to be stuck in 1980 and OJ. Things change. Try to catch up.
JPM holds all the COMEX shorts and not for clients. JPM shorts for the government - to hold the value of the dollar firm. In return the government gives JPM favors. JPM has and will use other OTC markets to hedge their positions against the will of others -the fear factor- which works in both directions. They will at times pump silver higher when they want to short other currencies and the dollar. They will also pump silver higher to lend to short PM holdings and to trade dealer's inventory. I believe that Masters appeared on CNBC because JPM was not able to get their judges behind the bench on several large suits. JPM could be fined many billions.
Good to see all this. Has anyone else seen the Harvey Organ piece on Chris Martenson's web-site from April 20 and the 15 pages of comments/discussion following? Quite a discussion outlining the nay-sayers' argument v. (in particular) Ted's theory (only because it is not yet proven) about the concentrated Short JPM position manipulating the Market. I am going to print the lot out to keep as it is easier to read hard copy (for me) and digest the lot.