Why is J.P. Morgan buying colossal amounts of silver? Well, I can only think of two main reasons (although there are actually many others I can think of). Either silver has bottomed out and it’s time to buy silver. Or, as Chase Bank is exiting the use of cash, is J.P. Morgan now taking up silver so that the average man in the street cannot buy or use silver for trade or barter and will be forced to use a new system?
J.P. Morgan has been no friend to silver stackers who look for a return on their investment, we all know this. So why all of a sudden the change of heart for J.P. Morgan to buy massive amounts of silver and potentially drive up the silver price? I apologize right now for what I’m about to say because it’s not pretty.
I believe that J.P. Morgan is not having a change of heart. Perhaps what they are doing is removing silver from the market so that you nor I will be able to get any and use it as “money.” I look at what their business direction seems to be heading in, and that is a cashless banking system (reference to Chase Bank). Therefore, common sense tells me cash will be obsolete correct?
Now, taking a slight detour with all that’s happening, when currencies collapse naturally a new currency takes its place. In Zimbabwe the underground market “black market”, shifted to U.S. dollars and away from hyper-inflated Zimbabwe dollars. In a nutshell, for a period of time there were different currencies being used in Zimbabwe until things settled.
The way I see it, J.P. Morgan knows the U.S. dollar is/will lose traction and may be replaced at some point. Whether or not the U.S. dollar survives or the Amero makes a cameo appearance (which perhaps is why Canada and Mexico did not join the AIIB?) or whatever it is, in the governments and the banking systems eyes when a new currency comes in i.e. electronic currency, there must not be any competition to it as learned from Zimbabwe. They have seen what happened in Zimbabwe where an “underground currency” and black market is preferred to a government system. And this is why, I believe perhaps J.P. Morgan is hoarding silver for industry, or investments, but not for you and I to use it as money.
The government and the banks, want to go on a cashless system as Chase Bank has indicated. And if they eliminate silver, the money of gentlemen, from being available as money or for trade or barter, we are all in a heap of trouble and must submit to their new rules and their new game. But really, why are they buying up so much silver? I, you, and others can speculate all we want on the reasons why. However, in this simple man’s opinion, the point is also quite simple…it is surely time to buy silver and keep accumulating it.
…Yes, this opinion is a bit conspiracy-ish , but you never know. I’m just throwing another opinion into the tin foil hat.