Andy Schectman calls JPMorgan the most nefarious group of traders for hoarding silver on a massive scale
(Natural News) Precious metals and finance expert Andy Schectman denounced banking giant JPMorgan as the most nefarious group of traders for hoarding silver on a massive scale.
“I really do believe that JPMorgan understands – as maybe the most sophisticated yet nefarious group of traders on the planet – that silver, more so than gold even, is the value play of a generation,” he told “Liberty and Finance” podcast host Dunagun Kaiser during a Feb. 15 appearance on the show.
“It’s an asset that is depleting so rapidly in nature, yet so needed in industrial applications – not just its monetary explosion. This is how they do it: by suppressing the price, suppressing the narrative and accumulating the physical.”
Kaiser commented on the last point Schectman brought up, stating that JPMorgan has amassed the largest physical hoard of silver in world history. Based on the assessment of precious metals analyst Ted Butler, the New York-based bank had approximately one billion ounces of silver in its possession. Given this, Kaiser – a licensed broker with Miles Franklin Precious Metal Investments (MFPMI) – said JPMorgan stands to benefit greatly from a rising silver market.
Schectman, the founder and president of MFPMI, commented on the observation. Based on the company’s COMEX holdings, it currently possesses 150 million ounces of silver. He added that Butler’s assumption is that 90 or 80 plus percent of the silver accumulated by JPMorgan has been done in a less than a transparent or opaque way.
Schectman also noted how JPMorgan was fined $920 million for suppressing the metals market, commenting that the financial giant is very adept at playing the paper game. He said: “If they really wanted to play that game, they would not have gone to such overt lengths to accumulate physical and to do it in a very opaque way, in a clandestine way because I think what that really speaks to is the ultimate value of the physical commodity.” (Related: JPMorgan Chase busted by DoJ, forced to pay nearly $1 BILLION fine for trying to rig GOLD markets.)
JPMorgan a cat’s paw of Washington to acquire silver
The MFPMI president also expressed belief that if JPMorgan truly accumulated a massive silver stockpile, it must have done so for a purpose. He then postulated that it could be a possible play by the U.S. to accumulate silver and replenish its stockpile of the metal, using the banking firm as an instrument.
Had JPMorgan hoarded silver to make a profit, it would have done things differently, said Schectman.
“This isn’t just about making money and then shedding the position and going somewhere else. I think this is about accumulation of a vital asset, a strategic element that is disappearing in nature, is being accumulated massively in an expansion of uses industrially and has experienced a renaissance monetarily. I don’t think this is just black and white, I think this goes a lot deeper.”
With America exhausting its stockpile of silver, it won’t be shedding its silver anytime soon just to make a small profit.
Schectman also said silver is the most undervalued asset on the planet, and he thinks it is immeasurably important to the powers that be and elites who are going to great lengths to accumulate it and to make people believe that there is nothing to see with the suppressed pricing.
Ultimately, he told Kaiser that the only way to beat these market manipulators is to do what JPMorgan itself is doing – which is to use the suppression in the people’s favor and accumulate the metal.
Follow Metals.news for more about silver being sold in the global market.
Watch the conversation between Andy Schectman and Dunagun Kaiser about JPMorgan hoarding all the silver below.
This video is from the Liberty and Finance channel on Brighteon.com.
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