ANDY SCHECTMAN: JP MORGAN CORNERING SILVER MARKET, FOR WHO? (Video)
ANDY SCHECTMAN: JP MORGAN CORNERING SILVER MARKET, FOR WHO? Video – Sarah Westfall
Andy Schectman, President of Miles Franklin, rejoins the show to discuss the obvious out of whack conditions that are hitting the silver market. Not only are the prices below cost to quarry, but silver is also being hoarded by the most sophisticated traders in the world.
In particular, JP Morgan has accumulated a mass hoard that is 10 times the size of the stash attempted by the Hunt Brothers before they were forced by authorities to stop purchasing. So why has JP Morgan been allowed to buy at these levels, obviously cornering the market?
Schectman and I dig into this issue and other anomalies in the market. You can reach Andy Schectman on his companies website at http://MilesFranklin.com