I think its bunk,a real Joseph Smith story. Do the math there are 100 million ounces in the whole world .JPm alledegly shorted 3.3 b .That's 33 times the world supply.No one looked at the books not the fed bank examiners and they are allowing them to raise the div? THink about it.
Do you think JPM with its huge commitment to naked shorts (shorts in which they do not have the underlying commodity, shorts which are just coming to light in re regulation after many complaints for decades) is suddenly going to walk in some quarterly report and say "guys we were kidding, we're BK because we have been fronting for Uncle and shorting the crap out of silver"?
No, they're going to do the Stalin thing--Stalin the dictator of Russia says, don't settle for the small lie, you'll be found out, always tell huge preposterous lies, folks will be so astounded, you'll never be questioned.
Which is exactly your existential position. It couldn't possibly be true, because then the whole Ponzi scheme of fiat paper currencies, valued on dead air and not silver or gold, would all go to zero.