I haven't heard for quite some time if Noront still has a relationship with JP Morgan. In a recent article Jason Hommel has some pretty unkind things to say about JP Morgan:

"Another fraud that I suspect in the silver market is the Silver ETF. I just don't trust that they have the silver; they obtained too much too soon, and their silver custodian is the least trustworthy bank in the system, JP Morgan, who has also been identified as the largest holder of silver short positions on the COMEX, who also has a large short position in the over the counter markets.

JP Morgan is also an LBMA member with the largest derivatives up to $80 trillion!

The BIS, the Bank of International Settlements admits that "non gold precious metals derivatives" are $190 billion, and these are mostly held by JP Morgan, the 800 pound gorilla in the derivatives market. Presumably, that would include silver, platinum and palladium.

The platinum and palladium world gold production figures are each about 8 million ounces. Platinum, at $1206/oz., is a $9.6 billion annual market. Palladium, at $231/oz. is a $1.8 billion market. Therefore, the $190 billion in over the counter "other precious metals" derivatives must be mostly silver, or mostly fraud, since silver is only a $7 billion market!

Basically, I believe 90% of the silver fraud is being perpetrated by JP Morgan, and maybe up to 50% of world financial fraud is being perpetrated by them, too."