ClaudieBrr

We just saw the biggest single-day crash in silver since 1980. The price dropped 32% in two days. That’s a $2.5 trillion wipeout. Now, a lot of people are pointing fingers at JPMorgan, saying they’re behind the crash.

This isn’t coming out of nowhere. The same bank got hit with a $920 million fine from the Department of Justice and the CFTC for rigging gold and silver prices between 2008 and 2016. That’s not a rumor—it’s on the record. They used fake orders to push prices around, then canceled those orders once they got the move they wanted. Some of their traders actually went to jail. So, this isn’t just conspiracy talk.

Let’s talk about how the silver market actually works now.

Most silver trading doesn’t touch real, physical silver. It’s all about futures contracts—basically bets on silver prices. For every actual ounce of silver sitting in a vault, there are hundreds of paper contracts linked to it.

JPMorgan is a giant here. They’re one of the biggest bullion banks on COMEX and hold a mountain of both registered and “eligible” physical silver. That means they have power on both sides: the paper market and the physical market.

Here’s what most people miss: Who wins when the price drops fast in a leveraged market? It’s not the small guys. Not even the hedge funds that borrowed money to go long. The real winners are the ones who can survive the panic, ride out the margin calls, and buy when everyone else has to dump.

That’s JPMorgan.

Right before the crash, silver was on a tear. Traders were piling in, using borrowed money. When prices started to fall, they didn’t sell because they wanted to—they got forced out. Exchanges demanded more cash for margin. Then, just to make things worse, the exchanges hiked margin requirements even more. Suddenly, all these traders needed way more money to keep their bets alive. Most couldn’t do it. Their positions got closed out automatically.

That’s where the forced selling came from. And that’s when JPMorgan steps in.

When prices are falling apart and everyone else is scrambling, JPMorgan can play three angles at once:

First, they can buy back silver futures at bargain prices, after selling them higher earlier—locking in profits.

Second, they can actually take delivery of physical silver while prices are in the gutter. The COMEX delivery reports show big banks, including JPMorgan, taking delivery right when prices were weakest.

Third, their huge balance sheet means those margin hikes don’t force them to bail. In fact, margin hikes just wipe out smaller players and leave JPMorgan with less competition.

That’s why people are calling out JPMorgan for this crash.

The numbers back it up. COMEX data shows JPMorgan issued 633 February silver contracts during the crash. “Issued” means they were short. The claim is simple: JPMorgan went short near the $120 top, then closed those shorts around $78 during delivery. They made money while everyone else got crushed.

Zoom out and look at the global scene.

In the US, silver’s paper price tanked. But in Shanghai, physical silver is still selling for much higher prices. Real buyers are still paying up. Only the paper price fell apart.

So, this wasn’t about a flood of real silver hitting the market. It was paper selling—plain and simple.

This is exactly the kind of setup where JPMorgan has cashed in before: a market heavy on paper trades, margin calls, forced selling, and the weakest hands getting tossed out.

You don’t have to prove JPMorgan planned it. The way the market is built just lets the big players win big when things get wild.

And when a bank with a history like JPMorgan’s is right at the center, you can’t blame people for asking tough questions.#JPMorgan