I've been laying around my house for the past week and a half recovering from my surgery. I had an aortic valve replacement on 4/9. Consequently I have been reading a lot of different stuff about our good friend AG and all of the crazy things going on with it. I have an idea of what is happening that I throw out for your consideration:

First the facts as I see them:

This recent takedown from Leapday has been different. Previously after JPM and friends mugged the market and covered some of their short positions, they would let the market climb back up, which if you were short and knew that you could bang the bids at will is the way to make money. Let people rush back in and buy sell more contracts and slam them again. But not this time. They have been very content to keep silver in a trading range, all the while going short to do so. In a heavily manipulated market this isn't the best way for JPM to make trading profits

The COT reports as Ted Butler mentions show that the open interest is still increasing or holding steady, not shrinking, as we would think if JPM was "covering" their short. And of course the price of paper silver would be climbing because of JPM covering with offsetting contracts.

The recent crazy swings in Comex eligible and registered inventory.

Public comments made by Blythe Masters about silver manipulation.

OK, here's my take: JPM has been given a time to "stop" their silver domination and control. Because they control the market, they are essentially keeping the price at a steady level to allow a massive offtake of silver by themselves their proxies and friends. Essentially they are selling paper short to keep the price steady while they steal all the physical they can at low prices.

So the next question is how is this going to end. Well, I'm obviously just guessing, but I'd say they are setting the Comex up for a default. At some point when the silver physical deposits are depleted so much, Comex will not be able to deliver, and would have to settle with paper money. And here's the beauty part for JPM. After a default, all contracts would be settled for cash I think. So JPM could "cover" with buying back their short position at a fixed price. Comex would use that cash to settle all longs demanding delivery and that would be that. They'd never have to go to the market to buy silver.

I guess the good news from this is that the boot would finally be off the neck of silver, but the bad would be that we would not see the spike in price that would have had to happen if JPM et al would have been forced to cover in the open market. I think we all know that that will not stop the relentless rise in price going forward.

I'd like to have the thoughts of the board on this theory. If I'm correct we will all be very happy soon.