ted butler Silver price breakout - Del norte assays due Butler: It should set the price free. The only reason silver has been so cheap is because a few big short sellers on the COMEX have suppressed the price. But growing physical demand has put these big short sellers in a bind and they are losing more money than they ever dreamed possible.
Cook: What about JPMorgan - aren't they a big part of the short sellers?
Butler: JPM used to be the biggest COMEX short seller, but they managed not only to slip out from all their paper short positions, but build up a tremendous physical silver and gold position over the years. JPM went from the biggest short seller to the biggest long ever seen. It's quite remarkable and extraordinarily bullish.
Cook: Are you saying physical demand is now such that it can overcome paper trading on the futures market?
Butler: Yes, exactly – but with the added kicker that the former biggest paper manipulator, JPMorgan, is now the biggest physical long.
https://silverseek.com/article/jim-cook-interviews-ted-butler-1