As Zero Hedge readers know, the reason why the US mint sold a record
amount of silver American Eagle coins in November is unlikely a
coincidence, and very possibly an indication that the recently disclosed
plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP
Morgan is working: to wit, if every person buys an ounce of silver, JP
Morgan and its massive synthetic silver short position, will have no
choice by the cover, face unprecedented margin calls, and possible lead
to an end for the New York Fed's favorite bank.
Today, Keiser goes
mainstream, detailing his thoughts in The Guardian,
which courtesy of its massive circulation is sure to reach far more
readers to whom this idea is new. To keep a track of how well this plan
is working, we suggest readers check in with the US mint, which
frequently updates the amount of silver American Eagles sold on its
website (link). The full Guardian article is below.
Want JP Morgan to crash? Buy silver, published in The Guardian
The campaign to buy silver and force JP Morgan into bankruptcy could
work, because of the liabilities accrued by its short-sellingFor decades, the world's banking system has been on a fiat currency
standard that has led to banks that are "too big to fail". They have
overreached their remit of providing loans and have leeched into the
political system, using our money to change the political agenda in ways
that boost bank management's compensation over the interests of their
Over the past 11 years, the Gata (Gold Anti-Trust Action) committee has worked to reveal
the silver/gold price suppression scheme; thanks to whistleblower
Andrew Maguire in London, an investigation has been opened. As part of
the ongoing exposé, it has now become clear
that JP Morgan is sitting on what is estimated to be 3.3bn ounce
"short" position in silver (which they have sold short, meaning they
don't own it to begin with) in an attempt to keep the price artificially
low in order to keep the relative appeal of the dollar and other fiat currencies high. The potential liability for JP Morgan has been an open secret for a few years.
On my show, Keiser Report, I recently invited Michael Krieger, a regular contributor of Zero Hedge
(the WikiLeaks of finance). We posited that if 5% of the world's
population each bought a one-ounce coin of silver, JP Morgan would be
forced to cover their shorts – an estimated $1.5tn liability – against
their market capital of $150bn, and the company would therefore go
bankrupt. A few days later, I suggested on the Alex Jones show that he
launch a "Google bomb" with the key phrase "crash jp morgan buy silver".
Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.
Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver
on a wholesale level is drying up. The most important indicator is the
price itself – holding just under a 30-year high. With each uptick JP
Morgan gets closer to going bust or requiring a bailout.
how the campaign works: wealth tied to a fiat currency is easily
overwhelmed by wealth tied to silver and gold. And the world is waking
up to the fact that they have the ability, without government assistance
or other interference, to create a new precious metals-based backed
currency system by simply converting their fiat paper into real money.
campaign has 100% chance of working; it falls into the category of a
self-fulfilling prophecy. As more individuals buy silver and gold, all
attempts to replenish the system with more paper money will only cause
the purchasing power of the silver and gold to increase – thus prompting
more people to buy more. Any attempts to bail out JP Morgan would have
the same effect.
If the US Fed was to flood the system with bailout
money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management),
more inflation will ensue and the price of silver and gold will rise
more, triggering more purchases. A virtuous circle is born. If
anyone is interested in helping to crash JP Morgan, buy silver. In the
end, it's about transferring wealth back to the people from where it