RE:RE:Stop Predatory Short Sellingtudor123 wrote: JP MORGAN. Everyone know this. JP MORGAN is the biggest gold/silver naked short in the market.
I thought I'd give you the most recent data on the derivatives view of this, from the end of Q1 2021 from the U. S. Office of the Comptroller of the Currency Report on Banking Derivatives.
https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr1-2021.pdf
On page 44 it shows that JPM has $35 Billion in precious metals derivatives on its books. This is out of $65 Billion for all U. S. Insured Commercial Banks and Savings Associations. Citibank has $10 Billion and Bank of America has $8 Billion by comparison.
Strangely, Goldman Sachs has $0. For me that's a pretty significant red flag. Goldman typically takes much higher risks than the other banks. For them to be completely out of precious metals derivatives makes me wonder it they're running away from something that the other banks are running toward.
Anyway on Page 31 (Graph 12) of the report it shows all of the Precious Metals Contract Activity back to 2001.
Please also note that Foreign Exchange + Gold is a separate category. On page 43 of the Report you can see that both JPM and Citibank have over $10
Trillion of derivatives contracts on their books in this combined classification.
All of these derivatives are not short/long positions. They are options, futures and forwards. All derivatives. They might represent short or long positions by themselves, or they can be hedges against other short or long positions that are not derivatives. Either way, these are big numbers, and you can see in Graph 12 that the banks went from $4 Billion in 2003 to $9 Billion in 2008 to the current $65 Billion today in precious metals bets.
Do your own DD. GLTA. Doug