An interesting suggestion was made by Max Keiser on Info Wars (Alex Jones) just recently.
Watch from the 5 minute mark:
Max Keiser says: "If 100m people in america bought 1 silver coin, thats 100m ounces and take that off the market, it would crash JP Morgan and we would have a scalp, we would have a major victory."
He then goes onto suggest that users specifically do a Google search for the term "Crash JPMORGAN Buy SILVER" (to raise awareness).
Asking listeners to search for particular terms has been a recent speciality of Alex Jones:
Radio talk-show host games Google Trends
A radio talk-show host urged his listeners Wednesday to search the Internet for two specific phrases in order to get those terms into Google's closely watched Google Trends list and promote a blog post implying President Obama will invite a terrorist attack on the U.S. to boost his popularity.
Alex Jones, who hosts The Alex Jones Show weekdays on around 60 radio stations, asked his listeners to conduct Internet searches with two specific queries: "save his presidency" and "Obama terror attack." They responded, driving those two terms briefly to the top of Google Trends with the goal of driving traffic to an article headlined "Will Obama Force America To 'Absorb A Terror Attack' To Save His Presidency?"CNET
How much effect would the purchase of 100m ounces of Silver have on the physical market? It's difficult to say. Annual production was approximately 710m ounces in 2009, so potentially 100m ounces is only around 1/7th of annual Silver production. Of course the demand would likely add pressure to the market, but enough to sink one of the large US Investment Banks?
JP Morgan is said to have shorts in the vicinity of 30,000 Silver contracts, NIA recently estimated that $50 per ounce silver would mean approximately $4 billion in losses to JP Morgan. This only equates to around 1 quarters worth of profit for JP Morgan, hardly something that's likely to send them under.
JP Morgan quarterly profit up 23 percent
JP Morgan Chase on Wednesday reported its profits rose 23 percent in the third quarter on better performance by its retail banking arm.
Profits rose to 4.4 billion US dollars from July to September, an increase of 23 percent from the same period last year, the company said in a statement.
I suspect the Silver buying that sends the Investment Banks up the wall will not be from US citizens, but from Asian buyers. This was something recently discussed on King World News.
Asian Buyers Have Silver Shorts Checkmated
The contact out of London has updated King World News on the Asian buyers which have been squeezing the shorts in the silver market. The London source stated, “There is an insatiable appetite for physical silver here and the shorts know that, the shorts know they are checkmated. The Asian buyers are layering in bids
Asian buyers were able to pick up silver at a discount at the lows of yesterday. They are continuing to buy today and tomorrow. People have to remember that spot trades 24 hours a day, so as the shorts raid the market, physical buyers already have orders in to buy tonnage of silver at a time on that weakness.
As I said to you the other day, the locals which were short with the banks were overrun when the price of silver stabilized just above $25.50 for a few hours. The local traders were margined out and silver moved over $1 higher later that same day.
In other words, the only entities that are left short here are the Fed backed banks. Nobody in their right mind would be short here.
Spot has been trading in front of futures here in London all day. We have been in backwardation all day long on the LBMA.”
Disclosure: Position held in Silver. Not investment advice. Do your own research.