Millions of investors worldwide have dabbled in precious metals at one time or another and want to protect their assets. When the economy falls on hard times prudent investors believe it makes sense to back up their portfolios with hard assets like gold, silver and platinum bullion. Wall Street savvy investors typically take a different route instead loading their portfolios with ETF’s and mutual funds that invest in precious metals, with no intention of ever taking actual delivery of the metal. So, what does it mean when one of Wall Street’s largest banks starts taking delivery of millions of ounces of silver?
This is information that largely flies under the radar unless you are a regulator or one of those paying attention. Silver investors in the know agree JP Morgan has taken physical delivery somewhere north of 75 million ounces of silver bullion and is storing the metals at a number of different locations. In short JP Morgan now owns more silver bullion than any bank, government or private investor ever has in history. The big question is this: if JP Morgan is hoarding silver bullion why is the price currently under $20 an ounce? All fingers are pointing at manipulation on a grand scale!
Manipulation? How does that happen and who benefits the most from it? If you’re a big bank that controls a rich commodity like silver (see JP Morgan), a metal with no great substitute in the industrial & technology sectors, where stockpiles are historically low, you see a huge opportunity for upside potential at a fraction of the cost. And the beauty of it is you get to ride that coattail with the shorts keeping the prices low.
Currently investors are faced with two choices, how deep to go into a market that seems close to the top, and how to protect their assets. We suggest a common sense approach – be your OWN central bank and put those precious retirement dollars into something real, like starting a Precious Metals IRA. Gradually accumulate gold and silver bullion over time and never part with it is unless absolutely necessary. And for those who are either retired or close to it, the time has never been better to buy gold and silver bullion. Some look at precious metals like a savings account over time while others feel this is the absolutely best way to protect their assets. Either way you come out on top when this giant bubble otherwise known as our economy explodes.