Tomorrow – Could Be Historic
The financial system is at risk, because J P Morgan is likely the big silver short. They probably can’t survive without a FED orchestrated bailout. Powell can’t acknowledge that, so he has to couch a huge injection of funds into the repo market, as unclogging a blocked plumbing problem(will probably suggest the unwinding Yen carry trade, is the main contributor), but J P Morgan and any other banks that are short silver, are most likely the reason all those hundreds of billions will be needed. Probably why silver took off today and if some type of QE, repo injection or new bank program, gets announced tomorrow, both Gold & Silver should explode higher. Stocks and Bitcoin might spike initially, but will probably end up selling off by the close.
A couple of years ago Ted Butler wrote a lot of ink on JP Morgan’s silver position. Anyone who is familiar with Ted’s analysis would understand that JP Morgan is in no way at risk of any short squeeze. Ted explained how they are the most savvy of all traders. They were able to convert their 1B Oz silver short into an actual 1B Oz ownership of silver plus they are the agents of SLV itself. JP Morgan may at any time be short silver, but it is collateralized by silver itself.
If there is anyone at risk it would be Bank of America. They have a massive silver short position foisted on it by non other than JP Morgan.
I recall this distinctly – JPM had accumulated 1 Billion ounces of physical — Chartmaster posted the info at the tent – 01/31/2021
https://goldtadise.com/?p=487795
Or gold and silver could get bombed tomorrow, making up for a Toasty Tuesday. It’s been done before…
As a humble observer of Silver for decades, I believe there is a huge battle for control of the Silver mkt.
These bastards will throw everything at it to suppress the price as they can not afford to see Silver get away from them to the upside.
I welcome a higher price.