JPMorgan's big appetite for silver changes silver market

By: Investment Rarities
 
MINNEAPOLIS - March 19, 2018 - PRLog -- The silver market will never be the same. According to public figures, JPMorgan, the largest bank in America, has accumulated a hoard of silver bullion that is larger than the amount the Hunt brothers owned when they tried to corner the silver market in 1980. JPMorgan currently holds 135 million ounces of silver in their own COMEX warehouse. These figures are public. However, it is believed that JPMorgan has accumulated much more silver on the sly. "They may have as much as 700 million ounces in total, most of it hidden from public view. If true, that $11 billion of silver in the greatest private hoard of silver ever known," comments Jim Cook, publisher of Investment Rarities Incorporated's trusted Market Update newsletter.

JPMorgan plans to build a 70-story office building in Manhattan. Their current 56-story unit will be demolished to make way for the $3-½ billion dollar project. According to one silver analyst, if JPMorgan owns 700 million ounces of silver, a $5 rise in the price of silver would pay for the new building. "Not that they need it," says Cook. JPMorgan has assets of $2 ½ trillion. They have almost $3 trillion in assets under management and $24 trillion under custody and administration. They are the fourth largest public company and the second most valuable bank in the world by market capitalization. Their hedge fund is the second largest in the world.

As to why the big bank has accumulated so much silver, Cook says many investors believe it's purely for profit. They think JPMorgan sees many bullish attributes in silver and expects it will rise many times over. If the 700 million ounce figure is correct, a $10 price rise in silver nets them $7 billion and a $100 per ounce rise would be worth $70 billion.

Founded in 1973, Minneapolis-based Investment Rarities closely follows all the factors in today's silver market. They publish a free, twice-monthly financial newsletter. A hard copy comes in the mail every two weeks for ten months. If you would like to read more about the fascinating developments in silver, go to InvestmentRarities.com and order their newsletter.

Market Update newslette (http://www.investmentrarities.com/newsletter/)r

InvestmentRarities.com (http://www.investmentrarities.com/)
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Source:Investment Rarities
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Tags:Silver, Investment
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