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J.P. Morgan's Great Silver Caper Could Come Crashing Down

12-08-2010 • Eric Fry, Buisnessinsider.com

There’s a lot of rumor, buzz, innuendo, chitchat and scuttlebutt about the precious metals markets these days. Most of the chitchat is about J.P. Morgan and silver. Rumor has it that J.P. Morgan has amassed a whopping short position in silver. The scuttlebutt, according to SFGate.com, is that “J.P. Morgan holds a giant short position in silver. Furthermore, some observers are accusing the bank of acting as an agent for the Federal Reserve in the market...i.e., a lower silver price helps maintain the relative appeal of the US dollar..."

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