Reuters article about JP Morgan
This is the most ironic and potentially informative article I have read in a long time.
JP Morgan hold huge short positions in both Gold and Silver. (A ‘short’ position is effectively where they are betting the price will go down)
There are a number of lawsuits against JP Morgan, accusing them of manipulating the precious metals markets, but buying pressure is lining up to overrun their manipulations
Accepting Gold as collateral, and therefore recognising Gold as safe money, contradicts their market position of being short the metals. I wonder if they know something we don’t know!!
http://www.reuters.com/article/2011/02/07/us-jpmorgan-gold-idUSTRE7162SG20110207