A new theory presented by Ted Butler that isn't his.............

Hereís a thought that I fully acknowledge didnít originate with me, but from a close associate, even though it incorporates many of my findings. If it does come to fruition, I will gladly reveal my associateís identity to give him his proper due; but in case it doesnít, Iíll spare him any embarrassment for an incorrect premise. As I think youíll see, I canít deny that my friendís premise seems to tie up all the loose ends about the silver manipulation.

In a few short months, we will hit the ten year anniversary of perhaps the most seminal event in modern silver history Ė the takeover of the failing investment bank, Bear Stearns, by JPMorgan in March 2008. Bear Stearns failed as a firm due to a variety of problems which, in effect, caused a run on the bank. But what makes the failure and subsequent takeover so prominent in silver history was the revelation shortly thereafter that Bear had been the biggest short seller in COMEX silver and gold futures and was replaced in that role by JPMorgan.

Since the takeover, JPMorgan has not only remained the largest short seller in COMEX silver futures, but has gone on to rack up a perfect trading record on the short side of COMEX silver; taking profits on every new short position it has added since taking over Bear Stearns and never, ever taking a loss. More importantly, for the past nearly seven years, JPMorgan has used its ironclad control over silver prices to accumulate the largest investment position ever witnessed in physical silver; and all at the depressed prices it created with its massive paper short position on the COMEX. At this point, I peg JPMís physical silver position to be no less than 675 million oz.

Iíve been on JPMorganís case since the fall of 2008, when I first uncovered that the bank was the new king short in silver. Because the evidence has been so strong that JPMorgan has both manipulated the price and accumulated a massive amount of physical silver, I lost any fear I had when I first started referring to JPMorgan as crooked in its silver (and gold) dealings. Yes, I still send the bank all my articles and I assume I would have heard from bank officials had they had any objection to what I write.

Because the takeover of Bear Stearns by JPMorgan was necessitated by concerns for the stability of the financial system, it was, basically, arranged and overseen by the highest levels of US Government financial regulators, the Treasury Dept. and the Federal Reserve. In a nutshell, Bear Stearns was too big to fail. Yet fail it did, although the USG and JPMorgan took strong measures to contain the damage from the Bear Stearns failure. One of those measures was to prevent Bearís failure from affecting the silver and gold market.

http://silverseek.com/commentary/ten-year-deal-17017