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Demand for gold delivery is exploding, and that is a big reason for the upward price pressure. What about silver? Why is it lagging behind gold? It takes nearly 100 ounces of silver to equal 1 ounce of gold. That ratio is going to start coming down dramatically. Financial writer and precious metals expert Craig Hemke explains why, “JP Morgan has been accumulating all this silver and shorting against it as a hedge, managing the price and monopolistically controlling it. Now, the COMEX is a delivery vehicle, and people were standing for delivery. JP Morgan was short nearly 6,000 contracts (of silver) on delivery day, and JP Morgan had to deliver (29 million ounces of physical silver). In doing so, they have now reduced their stockpile down to 120 million ounces of physical silver. . . . Now, JP Morgan is left with a dilemma. They can continue to play this game of shorting or hedging . . . and run the risk of losing another 8,000 to 10,000 contracts (at 5,000 ounces per contract) and see that stockpile of physical silver get cut again. Or, they can stand down and stop shorting. Either way, they are in a jam. . . . If they keep shorting while there is increasing demand for delivery, they are going to lose it all, and once they lose it all, they won’t be able to issue anymore contracts. This is going to allow the price (of silver) to go up. If they simply stop shorting, once again, the price of silver goes up. . . . JP Morgan may not have a choice but to stand down. . . . The demand is going to continue to grow. . . . JP Morgan will make $120 million for every $1 silver goes up. . . . I think they have to stop interfering with the market. When JP Morgan stops shorting silver, you are going to get the change to the question of why is silver not going up?”
Hemke says there will come a time in the markets when there will be no sellers of physical gold or silver. Then, Hemke says the price will skyrocket.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Craig Hemke of TFMetalsReport.com.
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All links can be found on USAWatchdog.com: https://usawatchdog.com/jp-morgan-wil...
