Yes I know ... but the question that needs to be asked is that...

Yes I know ... but the question that needs to be asked is that if JPM and HSBC are net short the PM's (especially silver) and continue to be prepared to smack the PM's down:

(a) Why would bullish PM clients be attracted to use these two institutions as brokers when all PM's equities buyers know they are the only thing standing in front of raging bull market in PM's? It doesn't make sense for a goldbug to trundle off to JPM and get them to buy gold shares on their behalf. I would have thought the goldbug has utter contempt for these very institutions. You can understand PM shorters but given the length of the bull market in these two metals, they would be a much smaller pool of investors.

(b) How could they possibly get the volume of money required to fill the registry of all the important gold and silver producing stocks and aspirant producers from clients who hate them for what they do to the price of PMs?

Here's a revelation. The nominee accounts on the long side in particular are likely coffers filled with printed corrupt banker money to take positions long and short on all these stocks. This gives them control:

(a) Over total knowledge of production, sales and hedge positions (pricing)
(b) Upcoming reserve additions and new discoveries.
(b) Where those PM's go.
(c) Over allowing the PM's investors from doing too well out of their investments.
(d) Keeps the companies being prepared to run hedgebooks at very average prices. There is a saying in farming that the best way to ensure the most amount of food is produced globally is to keep prices at or below the cost of production. Funnny how a debt bomb exists in the hands of agricultural producers as well.

Call me cynical but these guys have a track record of running a show akin to the Wild West.