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user4779
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No, JP Morgan is not buying Silver Eagles

- Bron Suchecki - Perth Mint

Agreed, JPM is not buying silver eagles in order to melt them into bullion. But possibly it is playing two parallel games: one in the bullion market and one in the coin market. Arguably, if you want to accumulate a commodity on a large scale without pushing the price up too much against yourself, then it is best to spread your buying across different markets in which the commodity trades.

Commented 3467 days ago

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Beginning of the headline :I was joking earlier this month when I said “350 million ounces looks like an understatement” with regard to Ted Butler’s theory that JP Morgan is accumulating physical silver. Last week Ted claimed that “the real amount may be in excess of 500 million ounces” but that he uses the 350 million ounce figure because he is worried “heads might explode if the number is closer to half a billion ounces” and he is “not looking for anyone to lose their minds”. He also ups his belief of how many coins JP... Read More

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