Thursday, July 25, 2013

Has JP Morgan Gone Long Silver?

It is common knowledge that the major bullion banks continue to manipulate the price of gold and silver lower on a continuous basis. What is not so common knowledge is the fact that, from time to time, they have been known to go long.

This typically happens after a long period of extreme pessimism and depressed prices, similar to what precious metal bulls have experienced. The reason the bullion banks do this is twofold. For starters, they know they cannot keep the prices suppressed forever. Secondly, they love money.

So the question is, has a major bullion bank reversed their position? Silver guru David Morgan believes this to be the case. The bullion bank in question is none other than JP Morgan. Are they preparing to rocket the price of silver to all new times highs? By catching this depressed silver market off-guard, they can rapidly move the price higher with little to no resistance. This would not be a difficult feat considering that the weak hands are out of the market.

David Morgan suggests that there is strong evidence that JP Morgan has INDEED gone long the silver market. This was revealed in his latest interview with Elijah Johnson of  finance and liberty.

David Morgan's full interview can be heard below:

- Source, Sprott Money Blog: