The Watchman Letter: JP Morgan Chase to close 1 Billion ounce Silver Short Position at the Comex today.
Since 2009 JPM has been short silver in the tune of 1 Billion ounces when they purchased Bear Stearns. JPM realized the best way to cover the short position was to acquire enough Silver to cover the massive Short Position. JPM has not lost a Paper Contract Bet Since 2011 and has accumulated 800 million ounces of Silver. I recommend the video by Bix Weir
"Gold & Silver are Money, everything else is Credit" JP Morgan