Mitchell Langbert
New member
Alasdair MacLeod was on a couple of months ago. He wrote an email on Feb. 25 that goes into his thesis that China has been manipulating the silver price through JP Morgan and that China plans to monetize silver (and has technically done so already). MacLeod's thesis is different from yours and might make an interesting discussion. From the email:
Presumably, China instructed JPMorgan to hedge the silver price on Comex or London, effectively dumping silver onto the market before it was in deliverable form. Note that this is not JPMorgan acting as principal but acting for the refiner (China) as a client. The consequence was for JPMorgan to continuously feed short positions into Comex, suppressing the price. But as Masters made clear JPMorgan was not taking a position for itself, only dealing for the Chinese as client.
Presumably, China instructed JPMorgan to hedge the silver price on Comex or London, effectively dumping silver onto the market before it was in deliverable form. Note that this is not JPMorgan acting as principal but acting for the refiner (China) as a client. The consequence was for JPMorgan to continuously feed short positions into Comex, suppressing the price. But as Masters made clear JPMorgan was not taking a position for itself, only dealing for the Chinese as client.
