One of the major topics discussed in the precious metals community is the manipulation of the gold and silver prices by the large bullion banks. Many precious metals analysts point to the massive commercial short positions held by JP Morgan and Scotiabank as the root cause for the low silver price. While I agree that the bullion banks’ massive short contracts are controlling the silver price to a certain degree, there’s another factor that is overlooked by the majority of precious metals analysts.
According to Ed Steers’ recent article titled, JPMorgan’s Silver Short Position Now At 195 Million Ounces, he stated the following:
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