"JP Morgan started to unwind it's gold shorts in July 2010. This covers their current position..."
as I said at the time, the bankers covered 20% of their shorts in a single week at the beginning of July. That was a signal gold was about to run. The same thing happened in July 2010 a year earlier at $1200... which I also reported here.
As Eric King of KWN has said the bankers like Goldman Sachs and JPM are sitting on huge amounts of physical... Eric's sources used the phrase "acting like their own central banks for many many years." Stewart Thompson who worked at Merill Lynch in the 90s has said the same.
These private banks bought the bullion from central bank fools and investors who used to hold 10% in their portfolio in the 80s and 90s but sold in the new economic paradigm.
They will soon be selling this gold back to Joe Public, with announcements like gold is going to $2500 etc.
Rowingboat
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