Only people who have no understanding of how an investment bank works can come up with these silly theories, and I have already debunked them in the past.
But this time, interestingly, Blythe Masters, the head of the commodities business at JPMorgan, explained it on CNBC to clarify for all the arrogant ignorants like Sprott and his conspiracy friends.
(Bloomberg) JPMorgan mostly hedges silver for clients, and large speculative bets aren’t “part of our business model,” Blythe Masters, the bank’s head of global commodities, told CNBC.
Market participants “don’t see all our activity,” and bloggers have “a misunderstanding of the nature of our business,” Masters said today in an interview on CNBC. There is “an underlying client position” involved in hedge or forward trades, she said on CNBC.
A multiyear investigation into the possibility of unlawful acts in the silver market is continuing after regulators analyzed more than 100,000 documents, the U.S. Commodity Futures Trading Commission said in November. [...]
Here are some of the latest interviews (March) on KingWorldNews of Sprott and Embry, the unbelievable ignorant speculators on the commodities markets:
Please be aware that if you believe in those theories, of if you have your money managed by this arrogant ignorants, you are up for a major major disappointment.