Butler on Bear Stearns and JP MorganNext friday Nov 28th is the deadline for taking the COMEX delivery
The eligible is: 48,224,209; less than 49 million ounces of silver!
A little over 10% taking delivery and the COMEX will default.
https://www.prisonplanet.com/banker-manipulation-of-gold-and-silver-prices-further-exposed.html
Butler writes:
“Bear Stearns held the largest concentrated shortposition in COMEX silver (and gold) futures at the time of its forcedmerger with JP Morgan in March. That position was not discovered untilthe publishing of the August Bank Participation Report followed by theOctober 8 letter from the CFTC to Congressman Miller. Furthermore, BearStearns had no legitimate backing to the short silver position, eitherin actual metal or cash. Otherwise it could have been delivered againstor bought back, just as would have happened were it a long position.
“The price of silver at the time of Bear Stearns implosion was $20to $21 an ounce. A free-market covering of a concentrated shortposition of this size would have driven silver prices to the $50 or$100 level and would have exposed the long-term manipulation. Ratherthan let the free market deal with the required short covering of suchan uneconomic and unbacked short position, government authoritiesarranged to have the short position transferred to JP Morgan. This wasundertaken by the U.S. Treasury Department, along with taxpayerguarantees against loss to Morgan worth billions of dollars. This wasdone, no doubt, to save the financial system from imploding. This wasalso patently illegal, as it aided and abetted the silver manipulation.”