JP Morgan just surrendered — and they tried to hide it on Christmas weekend.
For 15 years, JP Morgan was the largest silver short seller on the planet. Every time silver threatened to break out, the smash downs came. The mockery followed. “Conspiracy.” “Pet rock.” “Nothing burger.”
Then on Friday, December 26th, 2025 at 4:01 PM ET, JP Morgan quietly filed a routine SEC 13F—during the lowest-attention window of the entire year.
Buried on page 112 was the confession.
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