GOLDBUGS AMEX Goldbugs Index (GOLD)

[OldPro]

or - JPM is bankrupt already...

in a technical sense that they are unable to satisfy any just claims made upon them - it's just that they have woven a tangled web to avoid (or just delay) the collection of such claims.

Someone with big pockets appears to be playing the silver game with JPM and winning - but the game is not over until JPM is either openly bankrupt or manages to plunge silver back down - IMO.

Also could be argued that they are morally bankrupt, i.e., lacking in moral quality.

Some thoughts on this here:

http://www.benzinga.com/commodities/11/04/1025338/the-squeeze-is-on-silver-continues-its-climb-slv-udn-jpm-hsbc

and a little older one -
http://www.benzinga.com/trading-ideas/long-ideas/10/12/668905/j-p-morgan-getting-squeezed-in-silver-market-slv-jpm