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$50 per ounce silver would mean approximately $4 billion in losses to JP Morgan.

Asheron Posts: 1,229 Forumite

12 November 2010 at 12:55AM edited 12 November 2010 at 1:15AM in Savings & investments

It was just announced late Wednesday that two lawsuits have been filed in Manhattan federal court against JP Morgan and HSBC Holdings Inc. accusing them of manipulating the price of silver by "amassing enormous short positions". The suits were filed by Brian Beatty and Peter Laskaris, who each claim they lost money trading COMEX silver futures and options contracts as a result of JP Morgan's alleged manipulation.

http://www.tradingmarkets.com/news/press-release/hbc_silver-short-position-could-cost-jp-morgan-billions-in-losses-says-nia-1264751.html

As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.

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$50 per ounce silver would mean approximately $4 billion in losses to JP Morgan.

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