Wednesday, May 4, 2011

JP Morgue and Friends Covered 5,209 Silver Shorts in the Week Preceeding Silver Raid

It appears The Morgue/ HSBS closed out 5,209 short silver contracts (26 million ounces) in the week leading up to the smack-down. If JP Morgue knew a silver raid was imminent, why would they close out 5,209 short positions in the week prior to the massive raid when they knew prices would plummet?  This may be the strongest indicator yet that JP Morgan and HSBC are desperate to extricate themselves from their massive naked short position in silver.


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