Friday, April 22, 2011

Bob Chapman - JPM and HSBC sold 45 ounces of silver for every ounce of silver they own

"...what the market is telling you is that there is a terrible problem out there and it is not being solved and that problem is JP Morgan Chase and HSBC are short , they can't cover their shorts that means they've been betting silver is going to go down and right now at that price over $46 an ounce they're offsite they are losing 90 billion dollars now somewhere along the way they to call a force majeure and what that means is : we can't deliver and what they is they leveraged their bet on the short side and for every ounce of silver they had they sold 45 , which normal is 9 in fractional banking they're trapped and they can't get out ..."

at http://bobchapman.blogspot.com/2011/04/bob-chapman-jpm-and-hsbc-sold-45-ounces.html

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