Runs Out Of All Precious Metals In Hours

Tyler Durden's picture

Since Zero Hedge posted (unsolicited and uncompensated) the "Crash The JP Morgue" now-viral video late last night , it appears that among the tens of thousands of viewers who have subsequently gone to the website, there have been quite a few conversions. So much so that as of today, the company is not taking any orders and is sold out of all products. The company goes on to say that it will not be accepting any new orders until December 6. We can only hope that the profits JPM will make in its copper market manipulation will be sufficient to offset the ever increasing pain it will experience courtesy of what is gearing up to be a massive margin call.

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Azannoth's picture

Good to see that gold/silver is going like hotcakes, and no just because I said cakes does not mean you can eat it :)

Turd Ferguson's picture

Good for them! A virtuous cycle...expose JPM, sell more silver , crash JPM.

I 100% applaud and endorse their efforts. Great, great stuff!!!!!

Azannoth's picture

You'd be naive to think they would go under just by getting short squeezed, we need start trading with gold/silver not just bury it in the back yard

Turd Ferguson's picture

I have a feeling that a squeeze of JPM is more likely in the short term vs a return to gold/silver/barter. Just sayin. I am naive, however, most of the time.

MarketTruth's picture

Dealers WITH gold and silver inventory include:

Am not associated with them, etc, just letting others here know there are highly reputable dealers still with inventory that needs to be sold. Go get 'em ZH'ers!

Joe Sixpack's picture

I've been following 10 ozt. bars on Apmex, and they are very low rights now ( ). I've also tracked 1 ozt. gold govt. issue coins, but they are not currently short there.


As a side note, Apmex recently changed their banking to JP Morgan.

MarketTruth's picture

Thanks for the update and of course avoid JPM. Gainesville Coin uses Sunbank.


homersimpson's picture

Typical lib speak. Always trying to justify their money printing habits while talking down gold. Guess what - it ain't working.

JLee2027's picture


Deficit responsibility lol! 

Deficit responsibility on a non-Gold standard has never happened in human history.

Dismal Scientist's picture

Don't waste your breath, Homer. RNR comes to this site (and most likely others), looking to wind people up, thats his 'troll style'. He's quite good at it too, judging by the number of junks.

You can either ignore him (starve the beast of oxygen), or get pulled into a skirmish. Choice is yours...

Double.Eagle.Gold's picture

Put your wealth where you thinking is,

Buy DZZ, report back in 30 days.

gmrpeabody's picture


"Now we're moving into a period of fiscal clean-up and deficit responsibility, which will be bearish on gold/silver prices."

Too frinkin funny. Why does he continue to post?

SRV - ES339's picture


"The Dolt Brothers" (Boehner and Cantor) first (and only) priority is to add $400B to the deficit to give a tax cuts to billionaires... they thumb their noses at 98% of the population with impunity... they have sold their souls to an oligarchy (who of course is funding the "grassroots" Tea Party) that will keep them in power as long as they continue to represent them in the continued fiscal rape of the masses.

America deserves what's coming... really, how can so many be so blind?

-Michelle-'s picture

Allowing people to keep more of their own money does not add to the deficit, no matter how rich or poor those people are.  Spending more money than you make is what adds to the deficit.

Bring the Gold's picture

Cutting the tax base does actually increase the deficit when you have interest on the debt.

Higher taxes aren't the answer, but tax cuts for billionaires certainly isn't either. Time to end the welfare/warfare state.

Get sucked into partisanship if you love the direction of the country for the past couple of decades. You know straight into a sewage treatment plant, sans treatment.

DosZap's picture

Tax cuts?.

No,not CUTS,  leaving them where they have been for 10yrs.

Raising taxes in this economy is INSANE.

Maybe you should check w/ QE 3, now being proposed by Burning Brenake,as he passes out 9 Trillion more to anyone , and everyone except POOR Americans.

Get out of the LIBERAL TREE.

SRV - ES339's picture

The Bush tax cuts expire this month.

CUTTING the tax rate for 98% of American taxpayers (and not the top 2%) was a major plank in the Obama 2008 campaign... if memory serves me well, he won by a comfortable margin.

Get out of the LIBERAL TREE

That's right, villify anyone who actually cares for the less fortunate, and doesn't in join the Faux News gang (and their mindless followers) in their pathetic bashing and branding of the poor as lazy freeloaders.

And yes, I am a proud Progressive (the name has been changed... four more letters to confuse Tea Party sign artists... lol).

Hugh_Jorgan's picture

Time to give up the Liberal Keynesian Kool-Aid SRV. This is one of the most pervasive fallacies in the Democrat class-warfare playbook. Soak the rich? Have you ever worked for a poor person? Even JFK understood this one.

1. If I may, the Hauser rule:

No matter how high the top marginal rates are, the revenue comes in at 18-20% of GDP, this is a fact. I know Progressives like to "create" their own truth, but sadly reality is not optional. Incidentally, the all time peak of tax revenue (20.5%) was during the George W. Bush Presidency shortly after his tax cuts. Hmm, that's wierd?!

2. 70% of all jobs in America are created by Small Business Owners. The majority of these companies are sub-chapter S, LLCs, "Doing Busines-As", etc. who FILE THEIR TAXES ON A PERSONAL 1040! Got it?! Most of these 1040s will show a taxable income well above >$250K/yr.

So, if you want to kill more jobs, do what the bigger idiots in the Democrat party want and don't keep the Bush tax cuts in place for everyone.

It's time to stop spending and waste, not pour water on the fire of the economy.

BTW this article is not about taxes, so find someplace more appropriate to do your drooling, please.



Red Neck Repugnicant's picture

It is instantaneously obvious that you have absolutely no knowledge of what you've attempted to talk about.

Zip. Zero. Zilch.

For example, can you explain to me the average individual gross income in 2000 versus 07/08/09, and how the Bush tax cuts factors into that comparison? 

Additionally, which year were tax revenues the highest?  What is the relationship between that particular year and the fact that everyone in the United States had an ATM card with a picture of their house on it?

Just curious...


SRV - ES339's picture

Dear Hugh,

I'd love to debate the insightful arguments you make in your comment, but you obviously have your head so far up Glenn's ass (that and the fact you have no idea what you're talking about) it would just be a waste of time and effort... I simply wouldn't know where to start.


tmosley's picture

It's a big world out there.  You need not leave the liberal loony bin for the other "angry" liberal loony bin (the neoconservative Republican party).  There are plenty of other options.  Anything is better than where you are now, or the place you don't want to join.

Fred Hayek's picture

That would be the period of deficit responsibility kicked off by the Simpson/Bowles commission being unable to agree on even a measly 5% cut in gov't spending?  That one?

Sorry man, but they, apparently, gave you the placebo instead of a dose of the real stuff when they convinced you that austerity is here.  You shouldn't go around handing out your extra sugar pills to strangers and representing them as the real thing.


Max Hunter's picture

Sorry about the dose of reality.     

Your dose of reality is about as useful as a screen door on a submarine..

I'd take the risk/reward on gold and silver today over anything a shill like you may suggest.

Politicians saving their jobs with austerity. LMAO that's a good one..

What_Me_Worry's picture

When the USG slashes budgets by 20%+ across the board, I will sign on to your theory.  Even wage freezes doesn't really mean no pay increases.  Benefit costs are still increasing.

You, sir or madam, are clearly a liberal.

JLee2027's picture

You mean a 50% cut.

Revenue 2.57 trillion (estimated)

Spending 3.87 trillion (estimated - because they never passed a budget...)

JonNadler's picture

Now we're moving into a period of fiscal clean-up and deficit responsibility, which will be bearish on gold/silver prices. 


I agree! I endorse your point of view unreservedly! How much it will scare the gold bugs am not sure, since it's utterly ridiculous, but I support your effort!

geminiRX's picture

You have a poor PM track record...

Sancho Ponzi's picture

That's RobotTrader's avatar, but the username is JonNadler. 

JLee2027's picture's the Bizarro world version of JonNadler.

DoChenRollingBearing's picture

@ JonNadler

Whatever you do, do NOT buy physical gold, silver, platinum or palladium!

Au to $0.02

Ag to $0.01

Pt to $0.03

Pd to $0.015

NO, NO, NO re buying physical PMs.  (Please wait until I come back from Peru before running up the prices more, thx mucho...).

And besides you can't eat it!  Gold is in a wedgie!  Look out for that Head & Shoulders!!

[Yo, JN, will Jamie cut me a check for jumping the shark?]

 /weak sarcasm.  LOLOLOL!  [Downing his last drink of the evening...]

JonNadler's picture

DoChen, keep it up and you will start getting a check from the JP Morgue. I have to watch out here with all your knowledge of PM's and my being totally discredited, you might seem a good replacement to be JP M's  primary   Pm basher!

Jamie, please, am better than he is, after all I coined the phrase "you can't eat gold"

BenFranklinJr's picture

Pardon, but did the Bernank suddenly stop printing dollars while I was away from my computer?

trav7777's picture

then the USG will default. 

By the way, you jackasses, gold production peaked in 2001...the fuckin bull run is being driven by basic supply/demand dynamics, not a bunch of madmaxers on the gd'd internet.

Red Neck Repugnicant's picture


Not exactly.

The bull run began in 2001 when production peaked - he is right about that. 

But the parabolic move in the past 2/3 years has been driven by unprecedented chaos in the world financial system. Massive hedging and speculation by banks, hedge funds, governments and every individual that felt the world wobble off its axis in 08/09 (US)/10(europe) is the true reason for the parabolic move in gold/silver. 

It was/is a historical time of uncertainty and fear - but it will subside, as all chaotic moments in history do. As fear wanes, speculation will fade, demand will fade, and price will fade.

To deny the role of speculation and hedging in the price of gold over the past 3 years is to miss an enormous variable in the supply/demand equation. That massive speculation and hedging will meaningfully unwind, and the price will drift back to reality. 

There will be two themes for the 2012 election:  deficits (austerity) and employment.  Any indication that those three will be tackled in any meaningful way, and the chaos hedge will begin to unwind.


tmosley's picture

How's the weather in fantasyland?

Red Neck Repugnicant's picture

Wonderful.  We've been meaning to call, but we spent the day at the beach and riding jet skis.

I would let you talk to your wife, but I think I might have made her mouth pregnant. She says she'll try to call tomorrow (if she can).

2 more days of fun in the sun!  We'll see you Monday!  Keep working hard!


hamstercheese's picture

I don't believe it will subside...the increasing debt requirement inherent in the western monetary systems have been sustained via accelerated real economic growth fueled by cheap oil.  When you try to bandaid debt problems with more debt while economies are contracting in productive terms and the low fruit is gone from the energy tree things will move exponentially in the other direction.  This is what is happening.  Think about it, two years ago we had private debt bombs going off, now we have govermental bombs ready to explode.  Nations, states, munis...western thinking and western investors are not driving the precious metals markets...its the other side of the world, with most of the population.  This is a historic shift of influence happening right before our eyes.  Western currency is all backed by debt, and the debt stinks more and more each day as it continues to rot.

JLee2027's picture

Eastern countries are fiat as well.

I don't see any significant shift in power...they still import food and can't control little things like malaria over there in the "East".  

Stock-Paper-Silver's picture

In the period in which you speak gold went from $800 to $1400. In the previous period of the same duration gold went from $400 to $900 (during the height of real estate speculation), clearly there are other forces at play other than the recent evil PM "speculation".


DosZap's picture


And, do you think American politics touting this SO called austerity BS  will affect the Red Chinese, Asians, and Indians, and Rooskies,CB's, and other country on this TEAR?,to load up on PM's while we have printed enough fiat to last a 100yrs?.

Europe is doing the same, and no Austerity program is going to scare the Strong Hands.Face it, we are on a HARD asset worldwide race and its not going to stop for quite awhile.

Plus, we all KNOW how well the Congress, and Gv't have followed their own laws and in never.

Pipe dreams and fairy tales have gone the way of the tooth fairy.

clickjaw's picture

Exponentially devaluing, meaningless pieces of paper, bitchez!

Blano's picture

Your comments about deficit responsibility and fiscal cleanup are even more ignorant than your usual troll posts.  I didn't think that was possible.

Jasper M's picture

It . . . pains me to say this . . . (really, really pains me), but I suspect RNR is closer to correct  than not here. The unusual gold:silver ratio cited could just as easily mean revert in the other direction.

Money where my mouth is: Selling Gold on Monday. . 

Jasper M's picture

It . . . pains me to say this . . . (really, really pains me), but I suspect RNR is closer to correct  than not here. The unusual gold:silver ratio cited could just as easily mean revert in the other direction.

Money where my mouth is: Selling Gold on Monday. . 

tmosley's picture

Right, because they're not making any more dollars, but the gold is just pouring off the presses.

Oh wait, it's the other way around isn't it?

You go ahead and sell your gold.  Everyone gets what they deserve by way of their actions.