Make that silver, as in the ETF, SLV.If it's true that JP Morgan has manipulated the hell out of precious metal(s), then it would stand that SLV should be worth more on the market. This story unveiled the contention of JP Morgan's silver manipulation on March 21, but it's news to me. Very interesting.
On the next day, Monday, Mar. 22, SLV closed at 16.60, down 5 cents. But since then, shares have hit a near-term high of 19.12. Much of that was probably as a defensive strategy against volatility in the market; gold moved up to new highs during the same period. SLV has since pared back and closed at 17.29 on Friday.
SLV (iShares Silver Trust)
3-month chart (daily)
SLV has perked up since the March 21 story about JP Morgan's manipulation
SLV vs. US Dollar (UUP) vs. Gold (GLD) vs. Euro (FXE)
3-month (daily)
6-month (daily)
SLV vs. JP Morgan (JPM) since the story broke
2-month (daily)
For us average folks, JP Morgan never quite felt as banksterish as Goldman Sachs. The reality is, though, they've both been banksters for eons and will continue to be so. No new laws can stop these predatory, carnivorous beasts. They're at the top of the food chain and for good reason. But can the silver manipulation be unlocked? Will silver rise to its true value?
It's been claimed that silver is actually worth four to five times its current value — $72 per ounce according to the conservative National Inflation Association. Is it possible? Or is SLV good enough as is to be a healthy hedge in any portfolio exactly as is?
The bottom is largely in for Silver
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