Crashing JP Morgan; Silver Liberation Army

Quote from Shagi:

Whats the point of this thread about JP shorting naked?

Any Jack & Jill trader worth 0.02c at his brokers can short naked any physicals be it Gold/Silver/Oil/Corn and if he knows what he is doing get paid for selling something he never or intended to own.

To me thats the epitome of Capitalism.
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The point is that JP Morgan engaged in large scale price manipulation of silver and it blew up in their face.

That's the point.
 
Is your information reliable about JP ? I doubt it unless you had the previlege of gleaning through their entire order book.

Keep in mind what the public is allowed see is not necessarily their true position.
 
Quote from Shagi:

Is your information reliable about JP ? I doubt it unless you had the previlege of gleaning through their entire order book.

Keep in mind what the public is allowed see is not necessarily their true position.
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Shagi you are missing the story here
You are late to the dinner table

Many months ago information was leaked that JP morgan has been suppressing silver prices for years by naked short selling.

When this information got to Max Kaiser he raised a hell about it and for a very good reason.

Now everything is done and finished.

One of the reasons Silver is so high in price is because JP Morgan already covered and for all we knew was helped with the loses by The Fed.
 
Did you all miss this?

The CFTC only reports data for the US silver futures market, a small corner of the global derivatives market for the precious metal, which is centred in London and largely traded via private over-the-counter deals. The data also do not cover transactions in the physical market.

Analysts and traders said that JPMorgan’s large short positions on New York’s Comex exchange, a division of Nymex, were hedges for the bank’s long positions in physical silver and London’s over-the-counter market.
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So how are short futures positions, that are hedges for long physical/otc trades, thus termed naked?
 
Quote from ogarbitrage:

Did you all miss this?



So how are short futures positions, that are hedges for long physical/otc trades, thus termed naked?
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It's naked short at COMEX because the long position is at a different exchange or market but as far as JPM order book is concerned its a covered position. Thats what I meant - don't look at the aboviuos and think that is a true position. Who really knows they could also have bought the physical right from source for next to nothing - a mine in Africa!!!

By a naked short postion at COMEX its provides ammunition to agressively go long physical at another exchange/market and hold huge position not possible if outright long.

Thats how those with unlimited funding play the game when they are accumulating a stock or commodity and who are up against. But whatever they do to hide their true positions and deceive its not really difficult to know their true intentions.
 
JPM clears internally only. Exchange to exchange doesn't matter when they are their own clearing house.

Silver trades OTC in the US, UK, and Switzerland. It trades financially in US, Japan, Dubai, India, and Russia. All in different currencies. If they're short silver in USD then they're long silver in Rupees/Yen/Rubles.

They trade NOTHING "naked."
 
That massive short position must have been hedged pretty well.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=abkSqAO6ZMCM
JPMorgan’s revenue linked to market risk was higher than $160 million on seven of the period’s 64 trading days, the New York-based lender said today in a filing with the U.S. Securities and Exchange Commission. The average daily revenue was $112 million, according to the filing.

The firm, led by Chairman and Chief Executive Officer Jamie Dimon, 55, had $6.64 billion in sales and trading revenue in the first quarter, second only to Goldman Sachs Group Inc. among the biggest U.S. banks. JPMorgan posted perfect trading periods in three of four quarters last year.
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