The bull market in precious metals is continuing with no sign of slow down. Silver has cracked $30 dollars per oz in US Fiat terms. The move up has been eye opening, as it has shown no signs of normal weakness. The increase in margin levels for contracts barely rippled the price per oz.
The movement by the people to crash JPMorgans silver trade is starting to look like its working. The online stores for silver are running out, or limiting sales. The price of the physical silver trading at locations where J6P shops is significantly higher than the quoted price at COMEX.
The battle between the citizens of the planet and the banker is warming up. While bankers can win most of the economic fights, most of the time, they can not win all of them, all of the time. If JPM is somehow truely unhedge short on Silver, this could be interesting.
I would love to know what Blythe Masters is saying to her team on the Commodity desk right now.