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silver-coin-investor.com / Dr. Jeffrey Lewis / Nov 23, 15 03:24 PM
The final question asked of Ted Butler in our recent Q&A was in response to his claim that JPM has amassed a huge hoard of silver over the last 4 years…. The question is, can they do this?
Ted: Sure. If you own something, you can’t tell somebody you can’t sell it. Is it possible that J.P. Morgan could use the physical, (the four hundred million ounces that I allege that they’ve accumulated in the last four and a half years), to keep the price of silver depressed for as long as they could supply silver to the market at any price that they decided? Is it possible? Yes, of course it’s possible.
But is it probable and is it likely? I don’t think so. Because you have to take an objective appraisal of J.P. Morgan. Why do they exist. Just like a shark is a perfect eating machine supposedly, J.P. Morgan is a perfect profit machine.
It’s what they do. They just make money. They steal from their customers and others as much as they can which is reflected in the many billions of dollars of fines and settlements that they’ve accrued. All in the pursuit of profit. That’s the common denominator, that’s what makes J.P. Morgan tick. It is the quest for profits.
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