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Promptly after those two cuddly bears explained how the JP Morgue is manipulating the silver market, and the xtranormal video went viral,forcing the FT to release an indemnification that "according to sources"JPM had covered a major portion of its silver short (only tosubsequently end up with 90% control of other metals markets), here theyare back, explaining in Part 2 of the series just what the next stepsin the unwind of the biggest metal manipulation scheme will look like.The kicker: a JPM insider has told one of the bears that there is nocommercial silver left, "it's all smoke and mirrors, and the CFTC can donothing about it other than pray." Other topical items explained:silver backwardation, that there are two commissioners at the CFTC onthe JP Morgue's payroll, the BIS' fractional gold system and the usageof side pockets for sovereign gold, and pretty much everything that tiesthe loose odds and ends in the PM manipulation story.