This week’s cartoon is a husband and wife collaboration. I had an idea of a silver bull taking on the JP Morgan matador. Originally the matador was thrashed and left only in his shorts–and hanging from the bull’s horn. Tina refined my idea and suggested he use his red shorts like a cape. Because that only makes the silver bull more angry. That sums up the situation better. JP Morgan is underwater on their short position and in a worse position when it comes to their derivative silver short position. Anything over $36 and they must pay out a lot of money. Today, silver reached a 30-year high of $37.42.
Couldn’t happen to a nicer banker. Olé!
Please click on cartoon to enlarge!