Why does JPM have to save COMEX at all?
It might be to their advantage to do so because they are able to profit off of the availability of COMEX — but at what price?
In other words, saving COMEX yet again may be becoming just too expensive for JPM's bean counters/risk managers.
Or maybe they simply don't have the available unencumbered silver to do this with any longer.
JPM and their billion ounce mountain of silver may be a paper tiger.
Lets dign in !
Comex silver warehouse …. another 1,000,000 oz is OUT OF THE VAULT, 43,000,000 oz is gone since the silverbacks arrived. This time it is all HSBC bank. And what did big powerful JP Morgan do? Nothing!! Maybe all their silver eligible is spoken for.
You may be wondering why I track JP Morgan so closely. The short story is that registered stocks are very low compared to deliveries … a Ratio of about 3 months of supply at current delivery rates.
Yeah, so what's that got to do with JP Morgan? In the past, like July 2020, JP Morgan rode in on their big black horse and deposited 30 million oz at the onset of July 2020 deliveries. This time, at the onset of May 2021 deliveries, they rode in on their little pony and deposited just 3 million oz.
Comex needs 50 million oz to get back to a typical ratio of registered silver to deliveries. Meanwhile the bleed continues and JP Morgan has no answer or tourniquet.
The long story can be read in the links below.
Here's the rampage report:
And here is the guy with empty saddle bags … all zeros there!
The end is in sight!!!
I really never thought this would happen in 2021.
Together with transitory inflation and comex draining silver price may reach over triple digit levels within 2021 .
This is not financial advice .
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