The rumor on the street is that both banks will be forced to cover their silver shorts, and in doing so drive up the price of the metal astonishingly. Some traders are targeting the $40-$50 level within 6 months! Adding much intrigue to this rumor is the fact that silver began its most recent breakout the exact same day as JP Morgan announced they would be shutting down their proprietary commodity trading business.
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Rumor has it that JP Morgan is just looking to cut their losses in silver and cover their shorts. This could be a possible reason why silver has skyrocketed in the last 2 months. Of course, JP Morgan’s involvement in the silver surge is little more than unsubstantiated rumor, but the basic premise still holds true.
Regardless of who actually holds these silver short positions, they will be forced to cover at some point. When that happens, an even larger short squeeze than the one we are currently witnessing may occur, driving silver even higher. I continue to be long silver futures and call options, and will add on all pullbacks.
Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.