from Silver Stuff:

JP MORGAN IS “LONG” SILVER? (The Trap Nobody Sees)

Silver hit a historic $76.49 at the Friday close, but the real story isn’t the price—it’s the 147.3 million ounces of physical silver sitting in JP Morgan’s vault. While the media reports a “liquidity death spiral” and $1.85 billion in paper losses, the COMEX warehouse data reveals a different reality: JP Morgan is net long 77 million ounces and sitting on a $5 billion net profit. In this deep dive, we break down the “Basis Trade” strategy JPM used to suppress paper prices while secretly accumulating 17.7% of global annual silver production.