| On Friday GoldCore posted an article asking whether JP Morgan was cornering the silver bullion market, noting their Comex warehouse stocks of 55 million ounces and claims by Ted Butler that they “may be holding as much as 350 million ounces of physical silver.” My short answer: I don’t think so.
The clear import from the article is that because the warehouse has JP Morgan’s name out front that all the silver insider is theirs. However, JP Morgan has large market share of global precious metal market activity with a significant number of industry participants using JP Morgan to buy and sell physical and futures, and for storage services. It is therefore highly unlikely that none or little of the silver in JP Morgan’s warehouse is held on a custodial basis for clients...............................................Full Article: Source
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