JP Morgan Will Stop Shorting Silver – Craig Hemke

JP Morgan Will Stop Shorting Silver – Craig Hemke By Greg Hunter’s USAWatchdog.com

Financial writer and precious metals expert Craig Hemke has predicted for the last year and a half that “high demand coupled with low supply will unlock the price of precious metals.”  Nowhere has that prediction been more on target than in the gold price.  This year, it looks like gold prices will continue to climb with the doubling of Fed debt on its balance sheet, and massive stimulus from Congress to fight the virus lockdown.  Hemke explains, “A key driver here is the Fed policy that is going to lead to a 1970’s style of stagflation. . . .”

Now come supply shortages in the rigged metals markets and a reason to end short selling by a big bank.  Hemke contends, “The abuse of the markets was so extreme that in the first 15 days of March of this year, they did 290 thousand contracts (at 5,000 ounces per contract).  That’s 900 metric tonnes this way in just the first 15 days of March.  Then, boom, everything collapses.  Here comes the Fed with QE (money printing) to infinity.  The mints are closed.  The refineries are closed.  There is no gold anywhere.  The spread explodes to $100.  There are articles written that say HSBC lost $200 million in a day . . . and massive losses because they got caught with no physical gold. . . . Everybody is showing up now and demanding delivery from COMEX.  They are having to fly in metal from everywhere to try to make it look like it’s working. . . . So, now, these banks, like JP Morgan, which were able to control the market by issuing these shorts and calling it a hedge, are now being called to deliver.”

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Greg Hunter

Greg is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.