Is This Where The Secret JP Morgan London Gold Vault Is Located?

Tyler Durden's picture

 

In a world defined by "financial innovation", where $1 of hard collateral can spawn over $1000 in repoed and rehypothecated liabilities (and assets), where "shadow banking" is far more important than traditional bank liabilities (and to this date remains completely misunderstood), and where every month the central and commercial banks force create over $100 billion in credit money (which end consumers refuse to absorb and which therefore ends up in the stock market), the concept of a "hard asset" is an increasingly redundant anachronism. Yet while the Federal Reserve has emerged as the bastion of the New Normal's financial innovation front in which the concept of money is backed by absolutely nothing other than the Dollar's increasingly fleeting reserve status, when it comes to the definition of "Old Normal" money - gold - it still is the domain of the first and original central bank: London.

At first blush, most would not associate London with the hard asset mecca of the world: in fact, when it comes to some of the most spectacular hyper-levered "New Normal" cataclysms in recent years: AIG, Lehman, MF Global, JPMorgan's London Whale, all of them originated in London. Yet for the most part these events occurred precisely because of the mindboggling leverage already employed by the London financial system. Recall that the UK has some 600% in financial debt/GDP - an unprecedented amount compared to any other developed world nation. Yet, paradoxically, the fact that there is so much financial leverage implies that there must be an abundance of hard assets at the bottom of the London Exter Pyramid. After all, financial counterparties, especially in this day and age, may be insolvent but they are not idiots, and all will demand at least some paper representation that there is a trace of hard collateral at the bottom of the latest financial Frankenstein CDO, SPV, CLO, CPDO, RMBS or [insert any other modern financial "asset" acronym]. And keep in mind we are talking private sector gold: Gordon Brown's epic blunder of dumping the sovereign UK gold at rock bottom prices hardly needs a mention.

Which is why in order to spawn such a gargantuan amount of financial debt, London, which for centuries was the financial capital of the world and which sequestered the bulk of the world's real, tangible wealth until the ascendancy of the US in the 20th century, London's commercial vaults, are literally full of gold (as much as it may pale in comparison with the total notional amount of liabilities it has created).

After all it is the London Bullion Market Association. Not New York, Zurich or Singapore.

Why is London such an integral part of the gold financial world? We'll let none other than JPMorgan explain:

The characteristics of the London market uniquely support the use of gold as collateral by ensuring:

  • Quality and liquidity: “London Good Delivery” sets the standard for gold quality. Rigorous specifications as to size and purity ensure that each London ood Delivery gold bar meets pre-set standards with little to no variation between one bar and the next. This consistency ensures that counterparties will receive gold of an expected quality (99.5% fine), which allows the metal to be easily transferred between members of the London Bullion Market. Ultimately, this facilitates trading and market liquidity—both desirable attributes for collateral.
  • Flexibility: The London gold market uses both unallocated and allocated gold. In layman’s terms, allocated gold specifically identifies each gold bar with a specific owner. Allocated gold is essentially held in separate accounts; it cannot be pooled with gold from others to satisfy obligations. In contrast, unallocated gold is held in a general pool by the bullion dealer and the customer has a general entitlement to the metal, but not to a specific gold bar. The LMBA states that unallocated gold “is the most convenient, cheapest and most commonly used method of holding the metal.”

    In practical terms, unallocated gold is comparable to putting dollars, pounds or euros into the bank. Once deposited, the money becomes fungible—you can withdraw the same amount of money you put in, but you will not receive back the same exact bills that you deposited. The use of unallocated gold allows for amounts smaller than a gold bar to be used as collateral between counterparties—a significant benefit to a collateral program given that a London Good Delivery bar weighs 438.9 ounces, and gold is currently trading for over US$1,700 per ounce.

  • Transparency: Readily available price information promotes market transparency and aids in daily mark-to-market and margin calculations. Gold is priced by the market twice daily (morning and afternoon) and widely reported by both the financial press and data vendors. Use of a predictable daily price fix point allows counterparties to mitigate their daily exposure and set haircuts to manage ongoing price fluctuations. The afternoon U.S. Dollar London old Fix is viewed by market participants as the appropriate way to mark gold given daily price fluctuations and increasing values.
  • Ease of transfer: The London Bullion Market clears daily using paper transfers that evidence the unallocated gold held between members. This allows them to simply and efficiently settle mutual trades and transfers to/from third parties while mitigating the costs and risks associated with physical movement of bullion. The use of paper transfers and unallocated gold facilitate easy transfers between counterparties when needed.

And speaking of JP Morgan, incidentally the subject of this post, what do we know about their London-based gold vault services? Once again, in their words:

J.P. Morgan recently integrated its gold vaulting service in London with its tri-party collateral agency service.

  • J.P. Morgan operates one of the two largest commercial gold vaults in London (one of only six in the City) and is a member of the London gold clearing system.
  • J.P. Morgan is also one of the few truly global providers of collateral management services. As collateral agent, J.P. Morgan works with two parties that have an established collateralized lending or financing arrangement.

Who is the other largest commercial gold vault in London? Why HSBC of course: the bank which has recently been embroiled in virtually every scandal involving global money laundering, also happens to be the custodian for such massive (supposedly) physical gold repositories as those of the SPDR Gold GLD ETF. The HSBC gold vault is also known as "Gold's secret hiding place" as CNBC penned it, when Bob Pisani was allowed to take a look deep inside the vault's bowels but only after he was theatrically blindfolded (a visit which we commented on at the time).

Yet Pisani's blindfold, while theatrical, was premeditated: the number of people who know where the HSBC vault is located is a handful, because the last thing commercial gold vaults, and certainly their customers, would want to deal with is a Simon Gruber-type Die Hard 2-style goldjacking.

Amusingly it was none other than the Bundesbank who in November invoked the ghost of the fictional New York Fed gold heist when a member of its executive board told NY Fed's Bill Dudley that  "you can be assured that we are confident that our gold is in safe hands with you. The days in which Hollywood Germans such as Gerd Fröbe, better known as Goldfinger, and East German terrorist Simon Gruber, masterminded gold heists in US vaults are long gone. Nobody can seriously imagine scenarios like these, which are reminiscent of a James Bond movie with Goldfinger playing the role of a US Fed accounting clerk." This happened two months before the Bundesbank diametrically (and embarrassingly) flip-flopped and decided to, all pinky swears to the contrary, begin repatriating its gold from the New York Fed (and Paris) after all. But not London (at least not yet). It also perhaps means that the days of Simon Gruber may not be "long gone", especially if the whereabouts of vaults containing billions worth of gold bullion were known to the public.

And just like the SPDR would want nothing less than to have the address of the HSBC gold vault made public (the same goes for HSBC of course), so those other ETF providers who use JPM's London gold vault as a custodian, such as Blackrock's iShares IAU ETF, or ETF Securities, would want nothing less than to have the location of JPM's vault exposed.

Needless to say, the actual addresses of "LBMA Vault" provided by the LBMA in its Annex 2 for "The Good Delivery Rules for Gold and Silver Bars" lists the headquarters office of the vaulting firm, and certainly not the actual address, because it would have been somewhat disingenuous to blindfold Pisani just to deliver him toe 8 Canada Square, or the HSBC head office in London, the address provided by the LBMA as vaulting address of HSBC. And certainly the address given for the JPM vault at 125 London Wall, aka Alban Gate, which was the firm's headquarters until its move to 25 Bank Street in 2012, is the last place even one bar of gold would be found.

Which is why we were quite stunned to find, in the deep recesses of the internet (and hosted by the Indonesian stock exchange of all place), a trade ticket from May 26, 2011, issued by the Perth Mint of Australia to Avocet Gold Mining (a West African gold miner), in which the Mint confirms its purchase of 2,126 ounces of gold at a price of $1,526 for a total transaction price of $3.246 million.

What is notable about the trade ticket is the additional information provided for the account clearer, in this case, none other than JPMorgan Chase Bank NA, London, as well as the number of the Gold Account held by said clearer: "No. 01380" but what is by far the most interesting, is that the actual physical address of the JPMorgan facility is provided: 60 Victoria Embankment, London.

Ladies and gentlemen: we may just have uncovered the actual location of the ultra-secretive JPMorgan gold vault in the city of London.

Where is 60 Victoria Embankment, London? See below:

The building's southern/river face is the glorious facade of the City of London School which occupied this location from 1879 until 1986 (and which is currently situated just east of here along the Blackfriars Underpass, next to the Millennium Bridge).

As the map above shows, it is a rather sizable building, located just off the Thames river and steps away from the Blackfriars Bridge, whose official designation until recently was Morgan Guaranty Trust Company of New York, Ltd, a remnant from the firm's merger with Guaranty Trust Company in 1959 (recall that JPM was called Morgan Guaranty Trust until 1989).

A cursory media search about the otherwise very nondescript looking building at 60 Victoria reveals that it had been fully leased by JP Morgan as long ago as 1991. What is more interesting, is that the property had previously been bundled as part of a high-profile commercial mortgage-backed securities, or CMBS, deal called White Tower 2006-3. The deal consolidated properties formerly owned by one-time London real estate mogul, Simon Halabi, one of the financial crisis most notable falls from Grace, who had an estimated net worth of $4.3 billion in 2007, and in April 2010 was declared bankrupt, and whose current whereabouts have since been unknown.

White Tower 2006-3, most infamous for being the first CMBS deal to be placed in liquidation after the start of the currency crisis, held a variety of properties near and dear to JPMorgan's heart, first and foremost 60 Victoria Embankment, the 420,000 sq ft of office buildings fully let to JP Morgan Chase; but notably Alban Gate, the 382,000 sq ft office property located on London Wall in the heart of the City and fully let to JP Morgan Chase. The latter also was JPM's UK headquarters until last year.

What happened next is interesting: in July 2010 Carlyle bought the bulk of the "White Tower" asset portfolio from the defunct CMBS, paying some £173 million for the 60 Victoria Embankment location. Three very short months later, none other than long-time 60 Victoria resident JPMorgan bought the very same building from Carlyle for a whopping £350 million: a transaction which doubled Carlyle's money in an unprecedented three months! At the time the now former CEO of JPM's investment bank Jes Staley (and who currently works for BlueMountain - the same fund that made a killing by squeezing none other than JPMorgan's London Whale traders), said, "These properties are long-term investments and represent our continued commitment to London as one of the world's most important financial centres." Frank Bisignano, chief administrative officer, added: "These properties are among the most attractive pieces of real estate in London. These buildings ensure that our employees will have the necessary technology, infrastructure and amenities to take our businesses forward." Curiously, JPM showed zero love for its Alban Gate location, which it promptly departed to go to its new Canary Wharf HQ, and Carlyle was forced to pull the sale of this property a year later as it did not get enough satisfactory bids.

A pressing question remains: why did JPM, a long-time tenant of 60 Victoria not submit its own bid for the location it knew it would end up purchasing outright in a few months from Carlyle anyway? Why overpay by £177 million in exchange for merely having one more middleman do a three-month transaction? We hope to find out.

Yet what is very clear is that there was something of far greater value to JPM at the 60 Victoria location than at its old headquarters.

What that "thing" may be, and what is the missing puzzle piece in this story, comes from a very peculiar article written nearly four years ago in an Abu Dhabi/Arab Emirates website titled TheNational, titled "Mystery gold cargo linked to Saad, Gosaibi feud", which described just that - the fate of a series of very peculiar gold shipments, the key of which once again involved the two main abovementioned players: Perth Mint and 60 Victoria Embankment.

We repost the entire story below, while highlighting the key parts:

The Qantas freighter QF71 that took off from Perth Airport on November 3 last year bound for London would not have attracted any special attention, despite the fact that it was carrying 1.2 tonnes of gold bullion, then worth about US$28 million (Dh102.8m).

 

Perth, in Western Australia, is home to Australia's Gold Corporation Mint, where bullion is processed and turned into standard 12.5kg bricks. From there, the ingots are shipped daily around the globe to vaults in America, Europe and Asia, evidence of the world's apparently insatiable appetite for the precious metal. But what made this shipment unusual was that it was the first of 15 such cargoes, of varying quantities and values, which over the next seven months were eventually unloaded mainly in London. Smaller amounts were also delivered to Dubai and Zurich.

 

The total value of the bullion exported in these operations approached $430m at current market prices, and it weighed 10.4 tonnes. The other distinguishing factor was the identity of the recipients, or "consignees" as they are known. According to documentation seen by The National, they were all companies associated with the al Gosaibi family of Saudi Arabia. The al Gosaibis have since fallen out spectacularly with their partner, Maan al Sanea of Saad Group, in the biggest corporate scandal to hit the Middle East, leaving about 120 banks worldwide with debts estimated at up to $22 billion and a decreasing likelihood of getting their money back.

 

In a global hunt for assets to offset their losses, the banks have looked into every corner of the Al Gosaibi trading empire and the Saad Group controlled by Mr al Sanea. A small army of lawyers, forensic accountants and corporate investigators has been hired to track down assets over which the banks believe they have claim. They have turned up property, financial investments, relatively small amounts of cash and other baubles of the wealthy, such as aircraft leases. There was even a private zoo. But the most curious discovery so far is the Gosaibi gold.

 

Perhaps the most remarkable fact about the shipments is that although there are detailed and specific records of them having taken place, neither party in the al Gosaibi-al Sanea confrontation seems to lay any claim to their ownership. Each side denies it was responsible for the shipments. Despite being regularly ranked among the world's billionaires, neither the family's controlling partnership, Ahmad Hamad Al Gosaibi and Brothers, nor Mr Al Sanea's Saad Group has any previous known involvement in the bullion business.

 

The first shipment took place just as the world appeared on the verge of financial meltdown last November. They continued until May, when the crisis in the two Saudi families exploded into the public domain after they failed to make repayments on loans associated with their banking businesses in Bahrain. The shipments reached a peak in late February and early March, just as tensions within the al Gosaibi family intensified after the death of Sulaiman, the family patriarch and chairman, on February 22.

 

One shipping document shows that, the following day, "a shipment of 21,500 fine ounces of large 12.5kg gold bars, minimum 99.5 per cent purity" was sent from AGR Matthey, a well known Australian bullion dealer, from Perth Airport via Singapore to London's Heathrow. From there, the bullion was moved to the vaults of Standard Bank of South Africa, located in the London offices of JPMorgan Chase at 60 Victoria Embankment, Blackfriars, London.

 

The shipment was marked "London good delivery", meaning it met the internationally recognised standards for bullion delivery and could be deposited alongside bullion of the same quality. The Standard Bank account in which it was deposited was in the name of Al Gosaibi Trading Services, one of the companies owned by the al Gosaibi family. But financing such a transaction - the gold was worth about $20m - is a complicated process.

 

The usual procedure is for the consignee to arrange a letter of credit with the supplier, which is then guaranteed by a bank. In this case, the letter of credit bears the reference number "Awal 157". Awal is the Bahraini bank owned by Mr al Sanea, but which is now in the administration of the Bahrain Central Bank. Ten of the 15 shipping documents bear the Awal reference, while the rest have reference to "TIBC", The International Banking Corporation, the al Gosaibis' Bahraini bank which is similarly in administration.

 

It is common practice in the trade finance business for those letters of credit to be separately financed by a third party, such as an international bank. This is what happened with the Gosaibi gold. The amounts paid for the bullion were drawn down from lending facilities with these global banks but those borrowings have not been repaid, banking sources say. International banks, so far frozen out of the settlement process in Saudi Arabia or offered derisory amounts by the feuding families, are keen to track down the location and ownership of this bullion, to seize and offset against debts owed them. While most of the bullion ended up in London, two shipments went to other locations.

 

Also on February 23, some 629kg of "London good delivery" were shipped from Perth on Singapore Airlines flight SQ226/SQ490 to Dubai International Airport. The shipment was delivered to the Brinks Global Services facilities at the Dubai Airport Free Zone, marked for the attention of: "Malcolm Clingham, for account of Al Gosaibi Trading Services Ltd." Again, the financing reference was "Awal 158". Attempts to reach Mr Clingham were unsuccessful. An employee of Brinks in Dubai said he left the company about four months ago.

 

The other non-London shipment took place on April 29, when 689kg of gold left Perth on Singapore Airlines flight SQ226/SQ346 to Zurich in Switzerland. The shipment was marked for delivery to: "UBS AG Zurich, for account Standard Bank PLC." Although no named consignee account was mentioned on the shipping document, the financing reference was "TIBC 438". The final shipment to arrive in London took place on May 6, when 722kg was placed on a Delta Airlines flight DL94 in Salt Lake City, Utah, in the US. This was marked for the Al Gosaibi Trading Services account at Standard Bank at the JPMorgan Chase building in London. The financing reference was "Awal 177".

 

So while there is plenty of evidence that the gold shipments took place, there is huge uncertainty about who initiated them, who owns the bullion, and even where the gold is now. The company named as the bullion account holder, Al Gosaibi Trading Services (ATS), is a wholly owned subsidiary of Bahrain-based Al Gosaibi Investment Holdings (AIH), based in Bahrain which is in turn owned by three family members. But the management control of ATS and AIH is in dispute.

 

In a legal filing in New York, John D Potter, a former general manager of Al Gosaibi Investment Holdings, declared that: "Mr al Sanea exercised complete control over the operations and activities of AIH, to the exclusion or virtual exclusion of the other directors and the shareholders." Lawyers for Mr al Sanea, the London firm of Harbottle & Lewis, declined to comment on the gold shipments. But sources close to the Kuwait-born financier have denied he was involved in the transactions.

 

Creditor banks, which asked to remain anonymous, have told The National that their inquiries to Standard Bank in London have not so far produced any positive indication of ownership of the bullion, or even confirmation that it is still in Standard's vaults. Through its South African head office, a spokesman for Standard Bank said: "Our executives in London are adamant they cannot comment - not even off the record - as this would be a breach of client confidentiality."

 

Whoever ends up owning the gold from Perth will at least have made some money out of the Saudi confrontation, which has affected the kingdom's economy and stock market, and ravaged the balance sheets of regional and international banks. The gold price has risen by nearly 50 per cent over the past year. The shipment last November, worth some $28m when QF71 took off from Perth, is now valued at $42m - wherever it might be.

Courtesy of TheNational, we now know that one of the key features of the building at 60 Victoria is that it houses at least the vault of the Standard Bank of South Africa: in other words, somewhere deep underground, there is, indeed, a major gold vault. We also know, that after leasing this location for nearly two decades, JPMorgan decided to take the plunge and bought it outright in 2010, in a transaction that as shown above was a scramble to park cash and to procure the property for sale. In other words, JPM now has sole custodial possession of all the vaulting services offered under its 60 Victoria Embankment address.

So is this where the legendary JPMorgan London vault is located? Certainly nothing short of Blythe Masters admitting on live TV that yes, this is where one of the two largest commercial gold vaults in the UK is located, and as JPM admitted previously, only one of only six commercial vaults in all of London, there will be speculation and one can't be certain.

However, a quick cursory virtual trip around this building using Google's Street View feature shows that this building, barricaded on every side by a dense forest of bollards, is as protected from outside interest (especially of the automotive kind) as any modern day fortress.

The building's entrance on John Carpenter street, just north of Victoria's embankment - bollards everywhere:

The building's reinforced back/delivery entrance: corner of Kingscote and Tudor: barriers, a reinforced gate with a screen on top of it, and even more bollards which surround the entire building and prevent the parking of any cars in proximity to the building:

And finally, not one, but two rows of bollards, cordoning off a 60 foot area in the street on both sides. South view:

And north view:

Needless to say, no car, or any other potential threat, can enter that ~60 foot space from either side.

Is that where, dozens of feet underground, the world's most secretive commercial gold vault is located? Just below what was once the main campus of the City of London School for boys.

* * *

Update: a quick Google Street View trip around the block from the main JPM entrance to Carmelite Street, just south of Tudor Street, or here...

... reveals the following armored Brinks trucks waiting:

And

In front of an even more impressive looking gate:

h/t Ro

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fockewulf190's picture

John Carpenter Street. Appropriate.  I wonder if there is a nice sized parabolic antenna on the roof sending out signals ala "They Live!"  trying to convince people to sell gold and silver and to buy stocks.  Can´t fool me though, I got a pair of truth glasses thanks to Roddy!

http://horrorfanzine.com/wp-content/uploads/2012/11/they-live-23.jpg

 

wee-weed up's picture

JPM -> Bernanke -> Obama -> Drone -> ZH

Be carefu, Tyler!

booboo's picture

and just for fun I listened to Catherine Austin Fitts talkng today about the sudden departure of the Pope and how the Vatican is the latest victim in the rebalancing of the financial powered. Seeing as the Vatican has enjoyed a nice ride on the backs of the peeps in the last several centuries it is really hard to call them victims but with their confessional booths they had a pretty good file on everyone up until the spooks could listen to everyones personal calls, the Vatican lost its leverage and their gold too I suspect. I think this runs along the same lines as the House of Saud getting shoved off the main stage and having its pockets picked by JP Morgan. Better keep your kids savings account at home because these guys know no bounds.

cornflakesdisease's picture

Can you let me know the link to that?  I want to listen to that.  Appreciate it very much, booboo.  Thanks.

booboo's picture

http://solari.com/blog/

Unfortunately it is a pay for service site, but has a good blend of fringe and practical "living through the re-balancing" type information.

11b40's picture

Did she also talk about pedophilia?

http://www.addictinginfo.org/2013/02/14/pope-allegedly-sought-immunity-f...

"Well, for once, the guy might not get off easy. The International Tribunal into Crimes of Church and state calls upon the Italian President to deny help to Ratzinger, and to “not collude in criminality. Let’s just hope that Napolitano does not cave. However, there may be another avenue to make sure the Pope is brought to justice if the Italian President does cave.

It seems that in addition to these alleged attempts by this European government to prosecute, a New York based organization, The Centre for Constitutional Rights, has accused the Pope and his Cardinals of possible crimes against humanity for sheltering pedophile priests. The non-profit legal group has requested an ICC inquiry on behalf of the Survivor’s Network, citing the church’s “long-standing and pervasive system of sexual violence.”

Apparently, the Vatican has no comment. Well, of course it doesn’t. It knows that Ratzinger and his henchmen are guilty, and now they are just scrambling to save face and save his keister from jail. Shame, since that is exactly where he belongs.

The thing is, this institution knows no bounds when it comes to protecting their own, no matter how heinous the crimes. Anyone not living under a rock knows that the Pope and his cronies have abusing children for decades, and likely centuries. The thing is, they are just the biggest example of religion getting people passes. Shameful, but true. All those of us with a sense of justice and conscience can do is hope that one, if not both, of these attempts at legal action is successful."

 

Just search pope + immunity before you start flaming this post.


Cathartes Aura's picture

the Vatican assisted with the cultural rules, via religious stories of obediance, and fines for dis-obediance, whilst simultaneously corrupting the rules via their uniformed holies globally - see such as Magdalene Laundries:

After more than seven decades of exploitation and a 10-year struggle for justice, Ireland on Tuesday admitted its role in the enslavement of thousands of women and girls in the notorious Magdalene Laundry system, but stopped short of issuing a formal apology from the government.

and the massive sexual abuse of children - anyone who doesn't understand the role of abused children embedded in cultures globally, carriers of shame, pain, hatred - both of self and others - isn't connecting the obvious dots. . .

so you've got the cultural shapers, the City of London for the cultural money skimming, and the military enForcement arm'd from amrka - pretty much a functioning loop, eh folks?

zerozulu's picture

Probably POP resigned when he learned  there is no gold in Vatican either.

sgt_doom's picture

I'm not criticizing ThruthInSunshine, simply taking this opportunity to point out where the term "conspiracy theorist" originated:  in CIA Document 1035-960, disseminated in 1964 in response to the outcry against the godawful crap, the Warren Commission Report. (thanks to a FOIA request from the NY Times in 1976)

For a more concise explanation, please see Lance deHaven-Smith's most excellent book, Conspiracy Theory in America.

CH1's picture

Also where a prominent international banker was found hanged, alleged 'suicide', many think a bankster murder

Yup, I thought the same thing. Weird things happen among the chief sociopaths.

JOYFUL's picture

Good catch...and with the Vatican Bank in the loop, at last all the pieces are lining up ....http://theunhivedmind.com/wordpress2/?p=16536 [The Military Link to the New Vatican Bank Chief Ernst von Freyberg]

 

Thyssen\Krupp...Carlyle...the Saudi go-betweens... an Australasian refinery...the Swiss gnomes...Indonesian stock plays, and the City of London School for boys. All of which ingredients can now be combined into the toxic alchemic brew which puts the lie to Tylers' overbold assertion that

"Nobody can seriously imagine scenarios like these, which are reminiscent of a James Bond movie with Goldfinger playing the role of a US Fed accounting clerk."

...because only by realizing that Flemings' 'fictional' phantasmagoria was actually a detailing of the intricate network of international criminal players which would come to rule our world in the C21st -not a work of the imagination, but rather, the distillation of his acquired knowledge from time spent within the British intelligence service - can one come to grips with the present moment....

in which...the Bushey Bandit(aka 41)has been eliminated, the Ratline Pope has poofed, proof of pedophilic proclivities has reached to the highest levels of Anglo-Merikan society, the French have re-entered Afreaka in a desperate search for King Solomons' Mines(and the means to stave off implosion of Credit Lyonaisse etc.)the Saudi sheik princes have been sundered from their mortal coil by a reborn Nizari Ismaili assasination squad, an Austrialian senator by the name of Nick Xenophon* has been arrested and deported from Malaysia (http://landdestroyer.blogspot.de/2013/02/western-exceptionalism-crumblin...), Nat Rothschilds has resigned as a director of the soon-to-be blowed up real good Barrick Gold[Herve to JPM's Ricardo Montalban!]...

and S.P.E.C.T.R.E is finally exposed for what it always was - a joint Deutsche Verteidigungs Dienst\Mossad black-op which now controls the western world. 

Goldbugs will shake in terror when mention of the obvious elephant in the room is made - all of the "Black Gold" that all of the above were involved in the slow but steady laundering into the system of -(yes David Guyatt's work will all be vindicated...and more!) - but it's really just good news in disguise....

there really is a mountain of stolen shiny stuff out there in the jungles of Borneo, waiting for it's day of redemption...but it's full recovery and placement with the proper owners will not derail the coming upwards re-evaluation of gold\silver...it means simply that instead of the absurdly high $55,000\oz some are holding out for, we will have to live with the more modest(and quite realistic)$5500. Hey, just get over it!

*classic Salonikan Sabbatean cover for the crypto in every can o worms!

 

spankfish's picture

For some reason I want to throw the "bull shit card"... this was to easy.  Found on the internet?  How convenient.  By the way the address is not a shipped to address.  Just a JPM address... maybe.  The building smacks of less than no security.  London is camera city.  Where are the security cameras?  I don't think this is a "hide in plain sight" deal.  Security guys love gadgets, even the exmil types. They are creatures of habit.

"Which is why we were quite stunned to find, in the deep recesses of the internet (and hosted by the Indonesian stock exchange of all place), a trade ticket from May 26, 2011, issued by the Perth Mint of Australia to Avocet Gold Mining (a West African gold miner), in which the Mint confirms its purchase of 2,126 ounces of gold at a price of $1,526 for a total transaction price of $3.246 million."

What about Avocet?

http://www.miningweekly.com/article/avocet-warns-of-lower-mineral-reserv...

I got to many questions to list here.  Not buying it, unless I can hold it.  Beer, women, precious metals... get it.

FEDbuster's picture

Check for tungsten shipments to nearby electroplating businesses. 

caconhma's picture

Any fiat comes to the end (sudden and substantial loss of its value) when there are no takers willing to accept fiat in exchange for underlining hard assets. This goes for US$ (as the reserve currency) or gold or any other hard assets.

Speaking about gold, the paper-gold system collapses the moment when holders of fiat paper-gold become concerned about security and/or value of their paper-gold holding and want to exchange their paper-gold for physical gold. This exchange process cannot occur due to the nature of fractional fiat creation when fiat paper-gold quantity enormously exceeds the amount of physically available gold assets.

At the moment, China reluctantly supports fiat US$ since this reserve currency is used by Chine to acquire hard assets (oil, gas, copper, and other commodities). At the same time, the use of US$ heavily taxes China's economy. Consequently, China intends to stop using US$ in their foreign trade.

 

Bunga Bunga's picture

The "Square Mile", isn't that the place were even the Queen can't just walk in?

francis_sawyer's picture

Just put in a call to 'Pussy Galore's Flying Circus'... [Pussy owes me a favor]...

old naughty's picture

Pussy's still around?

As I recall, she was over 40 in the 60s.

Manthong's picture

I don’t understand why there is any concern at all for a barbarous relic that is of such little value that it drops in dollar value and get dumped whenever there is controversy or concerns in the market, either good or bad.

All the banks should be forced to sell off whatever physical inventory they have to remove this undependable distraction with little practical commercial use from the financial markets.

TruthInSunshine's picture

This is possibly where some of the bodies are buried, but it could all be purposeful mis/dis-information, also.

At any rate, and I hope I say this as the rational person that I think of myself as, I see stranger shit happening at a quickened velocity with each passing day. The cognitive dissonance is glowing like red hot embers.

Viva la Zero Hedge. Gird, disperse & protect thy servers & encyption methodologies.

ZH IP 178.209.48.14

I_ate_the_crow's picture

Hey TIS why don't you do everyone a favor and grow up

prains's picture

I_ate_the_ass_end_of_a_crow

 

how'd you get an "access denied" account?????????????????????

 

nicely done

SilverIsKing's picture

Is Simon Gruber the younger brother of Hans Gruber? Or is it Grüber?

Curious minds want to know. Actually they don't but I figured I'd ask anyway.

Curiously_Crazy's picture

ZH has many. As an example:

 

traceroute zerohedge.com
traceroute: Warning: zerohedge.com has multiple addresses; using 178.209.48.13

prains's picture

yes rhetorical it was crazy_one but the force is strong in you

smacker's picture

www.zerohedge.com

IP addresses:
  1. IP adress: 178.209.48.14
  2. IP adress: 178.209.48.13

Hosted in Switzerland. Mirrors elsewhere maybe, I dunno.

AlltheWine's picture

Silver's going so much lower before year-end...

$13-$18...

Mr Lennon Hendrix's picture

And what?  The dollar/euro/yen are going higher?

Bawhahaha

I think I need to buy a gun's picture

cnbc showed a russian oligarch the other day park is giant (worlds biggest yacht in downtown NYC) they bragged it even had a defense system. They said his wife was pregnant and maybe checking out hospitals to have the kid born. My first thought was he was just picking the rest of his physical gold up before this whole thing implodes either at the ny fed or taking whats left of the GLD.

I googled him and the day before he had cut ties with his Barrick gold project.  Just amazing

The miners have not much gold left and with the higher prices of fossil fuels will cripple them in the future to easily get any out.

They took everything

 

macholatte's picture

They said his wife was pregnant and maybe checking out hospitals to have the kid born.

 

Great.  Another anchor baby.

CompassionateFascist's picture

Not really. Automatic dual-citizen: America/Israel. As usual. And by the way, the amounts of gold referenced in this article are relatively small. Since the Golden Rule is He who has the Gold rules, and currently the Jew Rules, I'd hazard a guess that most of the American and European gold is by now safe and sound in Israel...stacked up next to the nuclear weapons depots. 

Lore's picture

Would you use a repository in the Middle East at this point in world history?

reload's picture

Ummm..No!

but this "J.P. Morgan recently integrated its gold vaulting service in London with its tri-party collateral agency service."

would have me seriously worried.

Physical possesion / clear title of assets outside banker playgrounds, or......pooof its gone.

disabledvet's picture

while an interesting primer on banking history i think the only important aspect to this article what you've just pointed out here "reload" namely...JPM's role as a "collateral agency service." This actually IS a "code word" for something important...and that something important is called GOVERNMENT. You have to understand just how tiny JP Morgan's bank was at the end of World War II to understand how important the "Morgan Guarantee" purchase was back in the 1950's. http://en.wikipedia.org/wiki/Guaranty_Trust_Company As you can see Morgan and London were for intents a purposes "one and the same" since the creation of the bank back in the 1850's. Having said that the USA was an economic collossus in the 1950's...but JP Morgan was at best a "mid level bank." It needed to bulk up...and bulk up it did by buying Morgan Guarantee...a bank far larger than itself. And what exactly did that bank Guarantee? And answer is "sovereign debt obligations." Going back even prior to World War I when the USA was on the gold standard and Jay Gould tried but failed to corner the gold market "all that gold ended up in JP Morgan's vaults for a song." This made JP Morgan EASILY one of the most powerful men certainly in financial history...and certainly in American history. And what did he do with all that "lending capacity"? What any smart banker would do: he lent to Governments. Sure...the interest rates were low (though amazingly enough not as low as they are now) but the return was spectacular and it provide a truly awesome base of capital from which to TRULY "rehypothecate" one's gold. Fast forward to 1906 and "Morgan is too powerful" after the collapse...and saving of Wall Street by him personally (again buying up basically the totality of Wall Street this time for a song.) So the Government in effect "took" his gold away by forming the Fed and put all money printing backed by gold dollars in the hands of a "Federal Reserve Bank" thus turning the banking business not into a "place of names" anymore but a "numbers racket" where one scheme after another all "games the system" but in effect is just another way of "taking money that isn't yours to begin with." (Madoff being the latest and most spectacular.) JP Morgan...through Morgan Guarantee bought BACK it's "Government lending business"...and a very good business it was after World War II and the need to rebuild Europe. It's certainly an intersting theory that "here's where all the Morgan gold resides." But modern banking is such that there are many other assets besides gold that must be resided"...and i think it a more interesting thing to ask that question namely..."where to the CDO's and CDS's reside" as these instruments control the fate of entire nations "backed by the full faith and credit of a American war machine" i might add. I will say this if we are on the verge of a MASSIVE price collapse in the Western World gold will certainly re-asserts itself in its rightful position as "top of the monetary pyramid" as simply put "it will not deflate like the rest of the so called assets" that modern media has spawned and spewed forth oh these many years now. We shall see of course. The USA makes fine products now too...not the least being amazingly automobiles..."the gold standard" as it were of that asset class. Amazingly they spent most of their industrial lives making junk cars...it's only in the last twenty years that has changed. The irony of it happening "when the world appeared to be running out of oil" should be lost on no one. Amazingly we're about to hit with not just an oil and refined product GLUT but a NATURAL GAS glut as well. "stay tuned" with where this US Army starts to move. "Where it goes the gold money goes as well."

Jim in MN's picture

Dancing on the head of a pin...in the middle of a graveyard.  While stark naked and declaring the finery of their outfits.

This is JPM, in reality.  And the rest of the scum global elites.

However, the weapons are real.  So....point taken, and nicely made.

DoChenRollingBearing's picture

@ I think

Anecdotal data point, and only that:

A guy I know (noboby big, kind of low in the food chain, but still...) said that physical gold is VERY HARD to find now.  I presume he means in large quantity, but I was with others at dinner so did not get the chance to ask for details.  He may have meant that the "We Buy Gold" business is not getting much as well.

Seer's picture

"They said his wife was pregnant and maybe checking out hospitals to have the kid born."

Yeah, and then they'll put a "baby aboard" sign on the yacht and we won't be allowed to ram them! (and we'll end up swerving out of the way... only to have a fucking boating accident!)

PacOps's picture

"CRASH JPM - BUY SILVER!!!"

Okay. Today I once again did my part with enough to cut the states take out of the equation.

Seer's picture

Then that would be pretty stupid of them- don't they know about gold and "boating accidents?"

sunnydays's picture

Full of paper piled high with numbers on it, to know which tungsten bar goes where when they swap paper for tungsten.   

 

Awesome find ZH!  Now we can see where they hide their gold.  I bet JPM won't be happy this is published and public knowledge now!  I would love to be fly on the wall when they go ballistic about this being on the internet!  Great Work!

Turd Ferguson's picture
Yes, I agree. ABSOLUTELY FANTASTIC STUFF! WELL DONE!!!
Mr Lennon Hendrix's picture

Hey if you ever want to interview me on how I came up with the "Crash JPM - Buy Silver" movement in April of 2010 on Zero Hedge (7 months before Max Keiser took the idea when Mike Krieger told him about it) and why it would work, I'm down.

I know you and Andy are trading silver and stuff but if you really want to be a part of a movement that takes down the system, hit me up, you have my email.

This goes for you too, Tyler.

Cosimo de Medici's picture

You seem to be painfully desperate to be a somebody.  If you really believe silver buying can destroy JPM, then just take comfort in the fact that someone who does have an audience already got the word out.  Also, if somehow JPM falls and the Great Reset comes, you're not going to be named King, and Lauren Lyster isn't going to pant for your manliness.  Sorry.

Ignorance is bliss's picture

I have been reading Hendrix for a while. There is nothing wrong with seeking acknowledgment for original ideas. I find his posts and blog to be thoughtful and informative.

When the crash comes I will make Lauren my road warrior queen.

Mr Lennon Hendrix's picture

You know what?

Fuck you.

First, like is said above, there is nothing wrong with me stating the truth of the matter, that I (with the help of many here) formed the original Movement.

Second, I was ok with Max using the idea, in fact I thought it was the greatest thing ever, but it is pretty hard hearing "Lago" Max squawk about how great his idea is over and over.  And here is the thing, Max announced that he would be using the movement on the Alex Jones Show.  Alex asked him where he got the idea...Max ignored the question.  Alex interupted Max's ramblings and asked him again, where he got the idea.

Max replied, "I heard about it from my friend Mike Krieger who heard about it on Zero Hedge."

But then Max continued to call it his idea.  Look, there is nothing wrong with questioning our leaders, and Max it turns out is a duche.

Third, if you think I am making that statement so to be King of the universe, you forget who I am.

Do you know who I am?

No, you don't, because I write under an alias.

So go judge someone who cares.

unrulian's picture

crashing jpm by buying silver may be a way to convince a few sheep to buy silver but i'm afraid it's got about the same chance of doing so as running for the cure will beat cancer

logically possible's picture

Can only agree, JPM can be short and long on any given day, and come out a winner no matter what the direction of the market.