GATA's Bill Murphy on the JP Morgan Silver Shortage and the next Bullion Bank Run!

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Welcome to Capital Account. Gold futures slipped ahead of the ECB policy-setting meeting this week, or so the story goes. Do these macro trends drive gold prices as much as the headlines indicate? Our guest Bill Murphy, Chairman of GATA, doesn't think so and he has flown to our studio in Washington DC to make the case.

Last month after a report surfaced that US regulators planned to drop the silver market manipulation probe, CFTC Commissioner Bart Chilton described the report as premature and inaccurate. We haven't heard much since, but our guest Bill Murphy has an update on the bank at the center of silver manipulation claims, JP Morgan. JP Morgan has a major problem with their massive short position according to GATA. Bill believes that it won't be long before their role in the market manipulation scheme is exposed. Meanwhile, the silver market maybe the tightest it has ever been to secure physical supply in size, and delivery can take months. Bill Murphy, author of LeMetropoleCafe.com, forecasts the bank will have a problem with its short silver position in the near future. Could it explode this month? He says yes and explains why.

Also, today's gold and silver markets are not the same your father's precious metals markets. The creation of Gold and Silver ETFs, as well as the growth of the precious metals derivatives market, has had a dramatic effect on prices. We talk to Bill Murphy about how growth in precious metals derivatives and ETFs has led to shifts in the metals market. He tells us why we should be concerned that HSBC and JP Morgan serve as custodians for the major gold ETF, the GLD, and the major silver ETF, the SLV, when they also have large short positions in gold and silver.

Plus, are lap dances an art form worthy of tax exempt status? New York's highest court is scheduled to weigh the arguments for and against. Lauren and Demetri will give you their take on today's "Loose Change."

• Category

  News & Politics

[brzgixxer]

Bill Murphy is a HERO.

At the end, truth will prevail. The precious metals "paper" market and the banksters manipulation games eventually will be unmasked.

Go GATA, greetings from Brazil. Salutes to RT for bringing up the TRUTH.

[rothschilds666]

Hi Lauren, pls do a program on "banning corporate profits" interviews conducted by peter schiff.

[nisher15]

Bill Murray changed.. Sigh

[Dave Cruise]

Dewpanic while i agree with your ideas. The real problem is the masses still are willing to trade tp currency for bread gas and milk and yes even gold and silver. Until the masses quite acting in stupidity and put value where it belongs this ponzi will continue

[pwilson357able]

I'd bang her :)

[Pfsif]

The New Testament doesn't say to tithe, tithe to who, the temple has been destroyed!

[dezzdev]

If interest rates move even just 1-2 points the metal trade is done. Not done for forever, but it will scare people to selling or hedging by shorting etfs/futures. 2-5 years from now who knows. A major beating on metals is coming. Too easy so far on no inflation, too many bulls with a valid case why to buy, buy , buy. Being RIGHT & making money are 2 different things. Stupid morons I know make $ by going against PHDs. Mark this post. BTW: SGT, you have a great passion, nice work on your videos.

[mrcriscraft]

What if the slow delivery is another form of manipulation? Kind of a reverse psycology....no that I believe this....but what if?

[MrEnergyCzar]

Great news video Lauren.... well done.. remember, for every buyer there is a seller so manipulation doesn't work in the long term....

[CoinManHerb]

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Lauren does an excellent job and I love her interviews. When it comes to minipulation you know what they say "Silver is for speculation and Gold is for wealth preservation" Bill does a good job of explaining at 4:50 nice enuendo with his "deep throat" comment.

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[GameAlot1231]

Very interesting topic, but I do have one question; if we would to establish that there exists less gold on the market then what's beeing accounted for, basic economic theories suggest that a lower quantity provides higher prices. And how would a higher gold price affect the market/currency of the american dollar?