Sep 24, 2012
With the recent spike in the price of silver from $27 to $35 per ounce, I wondered when the cartel, led by JP Morgan, would retaliate. It seems that when the Asian markets opened Monday morning, the cartel "sold" (on paper only) over half of the US production of silver in just 5 minutes.
This dropped the price a dollar per ounce. However, what is more significant is the fact that the market recovered half of its loss within hours, as bargain hunters bought the lower-priced silver.
It looks like JP Morgan is running out of bullets to save their huge load of silver shorts. If buyers absorb what JP Morgan has to sell, then it is the end of the manipulation game for them.
Dr. Stephen Jones