*Dave from Denver kicks it off,,,
A commentor on my blog pointed this out and I have not read reference to it anywhere, although I may have missed any published references.
Did any of you know that the Custodian Agreement between JPM and BONY was amended to enable JPM to keep SLV silver in both London and NY? The original prospectus required all bullion to be kept in London. Not only that, JPM's sub-custodians can keep bullion in both places.
I've linked the original Custodian Agreement (2005): http://www.sec.gov/Archives/edgar/data/1330568/000119312505180660/dex101.htm
And the amended agreement (Feb 2012): http://www.sec.gov/Archives/edgar/data/133056
8/000119312505180660/dex101.htm
This would explain the large flow of silver in and out of the Comex recently AND it further reinforces the argument that JPM is using SLV silver to put out physical shortage "fires."…
One revision to my statement: Alisdair Macleod wrote piece back in November 2012 that mentioned the custodial change in passing, but it was not the focus of his commentary:
http://news.goldseek.com/GATA/1354026445.php
I believe this is a very significant change in the character of the SLV trust
***
*JPM is by far the major short in the silver market, and has been for a VERY long time. JPM is the ETF custodian of SLV. There is nothing in their prospectus which prohibits them from doing what they want to do with the physical silver in their ETF.
More and more is surfacing about the JPM criminal empire:
17:05 JPM JPMorgan Chase hid trades banned by Volcker Rule, according to Senate probe--Reuters
Citing Senator Levin, are also saying that JPM hide the London Whale loss, dodged oversight, and misled the public.
Reuters
* * * * *
That is just what GATA has been claiming about JPM for what seems like forever. Why doesn’t anybody start screaming about the conflict of interest of JPM taking physical silver investors have bought into via their ETF purchases, only to have JPM use that silver from time to time to put supply into the physical market to drive down the price at their convenience? If JPM has not ever done this, then they owe it to the EFT shareholders to publicly say so.
*On that note, I had a very interesting debate the other day with a trader named Don Harrold. It was fairly heated at some points, but, ironically, Don actually agrees with much of what GATA has to say, but views it differently. We had a very cordial chat on the phone afterwards and he said he would be happy to do anything he could to assist GATA with his followers (which I just did this afternoon)…
DEBATE - JPMORGAN SILVER MANIPULATION: FACT or FANTASY? - Bill Murphy vs Don Harrold
For years, JPMorgan has been accused of silver price suppression. Bill Murphy, chairman of the Gold Anti-Trust Action Committee faces Don Harrold, founder of the Day Trade Show, in a debate on whether JPMorgan has engaged in this criminal market activity. Besides JPMorgan, could other large market players be manipulating silver prices? Could even the Federal Reserve and US Government be conspiring with others to artificially suppress precious metal prices? Stay tuned and find out! Here is the link to the debate:
Gold & Silver have replaced every fiat currency
for the past 3000 years -
http://www.kwaves.com/fiat.htm
history often repeat itself -
ex....
http://www.europacmetals.com/Portals/0/newsletters/december2010.html
Recent SIVR News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/28/2024 08:52:26 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:45:14 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/29/2024 08:43:40 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/13/2024 05:15:12 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/12/2024 09:09:09 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 02/01/2024 09:44:46 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 08:03:57 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 10/10/2023 04:36:04 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/09/2023 12:29:30 PM
FEATURED Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM