J.P. Morgan’s Time May Be Up

Over the last few weeks there’s been an increasing chatter on the internet and in the news media about the precious metals markets. Most of the talk has been about J.P. Morgan and their manipulation of the price of silver. According to the rumors, J.P. Morgan has accumulated a massive short position in silver.

SFGate.com has written that, “J.P. Morgan holds a giant short position in silver. Furthermore, some observers are accusing the bank of acting as an agent for the Federal Reserve in the market(i.e. a lower silver price helps maintain the value of the US dollar).”

SFGate continues, “By selling massive amounts of paper silver in the futures market J.P. Morgan has been able to suppress the price of the precious metal. It is believed that these short positions are naked (i.e. they are not backed by any physical silver).”

Morgan’s (alleged) short position would be praised as being brilliant if the silver’s price were to fall. But since the metal’s price continues to go up their (alleged) position looks far less attractive.

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