Tag Archives: silver

JP Morgan accumulating world’s largest physical silver hoard

Jamie Dimon JP Morgan

Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great ...

Read More »

UBS fined for silver price manipulation

Precious metals silver

Switzerland’s regulator found “serious misconduct” by UBS employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in ...

Read More »

US Mint sells out of Silver Eagles due to ‘tremendous’ demand

American Silver Eagle

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following “tremendous” demand in the past several weeks. In a statement sent to its biggest U.S. coin wholesalers, the U.S. Mint says it will continue to produce 2014-dated coins. The Mint will ...

Read More »

Government is ‘robbing’ citizens of their wealth through inflation

Inflation ahead sign

Political commentator and freedom advocate Floyd Brown knows what the U.S. government is up to, and he’s calling Washington on it. In this one-on-one interview, find out why the president of the Western Center for Journalism believes Americans are systematically robbed of their savings through a deliberate devaluation of the ...

Read More »

Asia facing shortage of silver

Physical silver bars

In my last piece entitled “Exciting Times: A whole new price discovery paradigm is literally around the corner”, I had mentioned that we need to stop looking at the COMEX for a physical default, as they have all the paper tools and games to cover up any physical shortages – at ...

Read More »

Chinese silver inventories nearly 90% depleted at Shanghai Futures Exchange

Shanghai Silver Stocks 2013 2014

Chinese silver inventories grow increasingly tight as stocks at the Shanghai Futures Exchange continue to fall to record low levels. It is truly amazing to watch how much silver inventories declined at the Shanghai Futures Exchange since March of 2013. It’s important to understand that the Shanghai Futures Exchange as ...

Read More »

London’s silver price fix to end after nearly 120 years

London city pic

Following a crackdown on precious metal manipulation by various European regulators (mostly Germany’s BaFin, recall “Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says“), which led to the shocking outcome that Deutsche Bank would pull out of the London gold and silver fixing committees, the London Silver Market Fixing ...

Read More »

JP Morgan Commodity Chief Blythe Masters leaves the sinking ship

Blythe Masters

A week ago we wrote: ‘While it has been public for a long time that i) JPM is eager to sell its physical commodities business and ii) the most likely buyer was little known Swiss-based Mercuria, there was nothing definitive released by JPM. Until moments ago, when Jamie Dimon formally announced ...

Read More »

Open letter to the World Gold Council – Billionaire Eric Sprott

eric sprott

Dear World Gold Council Executives; As you very well know, the business environment for gold producers has been extremely challenging over the past few years. While demand for physical gold remains extremely strong, prices on the COMEX have fallen precipitously. This contradictory situation is the single most important obstacle to ...

Read More »