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Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed's?

Tyler Durden's picture




 

When two weeks ago we exposed the heretofore secret location of JPM's London gold vault (located under the firm's massive L-shaped office complex at 60 Victoria Embankment) we thought: what about New York? After all, while London is the legacy financial capital of the "old world", it is in New York that the biggest private wealth of the past century is concentrated, and it is also in New York where the bulk of the hard assets backing the public money of the world's sovereigns are located, some 80 feet below ground level in the fifth sub-basement of the New York Fed, resting on the bedrock of Manhattan.

That the topic of the gold "held'' by the New York Fed - historically considered the gold vault with the largest concentration of gold bars in the world - has become rather sensitive, in the aftermath of the Bundesbank's request to repatriate it (surely, but very, very slowly), is an understatement. Yet in the aftermath of some of the revelations presented here, we believe quite a few other countries will follow in Germany's footsteps for one very simple reason: suddenly the question of whether their gold is located at 33 Liberty, or just adjacent to it, in what we have learned is the de facto largest private gold vault in the world, located across the street 90 feet below 1 Chase Manhattan Plaza, doesn't appear to have a clear answer.

But first, some background.

The locations of New York's commercial vaults, like those of London, are closely guarded. While there is occasional anecdotal speculation of where one may find any given vault, a definitive answer is rarely if ever in the public domain. Luckily, the past few years, which saw a surge in the price of gold and silver, have provided a variety of useful clues, as one after another bank applied to have its legacy precious metal vault certified for commercial use with the CFTC.

For those who aren't easily discouraged, buried deep in the bowels of the CFTC's website, is a veritable goldmine of data, in the form of supplemental applications from assorted CME members, who one after another, and very quietly, had the CME provide supplements to the CFTC vouching for their approval as "licensed depositories and weighmasters for gold, silver, platinum and palladium." 

For those curious (and that should be all who are interested by the precious metals space) what constitutes an approvable vault, we present the fully filed supplement application by Brinks (recently best known for having two of its armored cars captured in a Google Streetview snapshot just outside the JPM office at 60 Victoria Embankment) filed with the CFTC:

The application submitted by Brink's, Inc. and Brink's Global Services USA, Inc. for licensing its facility at 580 5th Ave., New York, NY for storage of the respective NYMEX and COMEX Gold, Silver, Platinum, and Palladium contracts meets the requirements of the Exchanges.

 

BACKGROUND INFORMATION

 

Brink's Global Services USA, Inc. is a wholly owned subsidiary of Brink's Inc. The Brink's Company, which owns Brink's Inc., was founded as Brink's City Express in Chicago in 1859, and has been in operation for 150 years. Currently, it is based in Richmond, Virginia. Starting as an armored transportation service, it evolved to expand its operations to include precious metals storage in the late 1990s. Brink's has been operating Licensed Depositories approved to store precious metals against the Exchanges' Futures Contracts for 10 years. Brink's international network operates about 875 facilities and services customers in over 50 countries. It is estimated that it employs approximately 59,400 employees.

 

NAME AND ADDRESS OF APPLICANT

 

Office Location

 

Brink's Inc. and Brink's Global Services USA, Inc. Suit400
580 Fifth Avenue
New York, NY 10036

 

Vault Location

 

Brink's Inc.
580 Fifth Avenue
New York, NY 10036

 

LEASE/VAULT CLASSIFICATION/INSPECTION

 

Exchange staff inspected the facility at 580 5th Ave., New York, NY on Thursday, June 17, 2010, which is owned by Forty Seventh Fifth Company, LLC. Brink's Inc. is the Tenant in the signed copy of the Lease Agreement, entered into on November 9, 1992, that was provided to the Exchange. There are 5,000 square feet of space available, enclosed by four steel reinforced cinder block walls with a concrete ceiling and concrete floor on top of bedrock. The interior of the facility is divided into several work areas, including a 752 square foot, modular vault capable of housing one million ounces of gold, platinum, and palladium, and an additional two million ounces of silver. The no floor vault solution is surface mounted to the existing basement slab which is described as bedrock. The walls and ceiling-grid carry a U.L. Class-3 designation which is torch and tool resistant. The vault is equipped with one U.L. listed Class-3 oversized vault door offering a clear opening of 52"wide x 78" high. Custom Vault Corporation has certified that the existing vault system at 580 5th Ave., New York, NY meets all current U.L. listings as a Class-3 five-sided structure. It has also certified that all modular components (the modular vault panel components were manufactured by International Vault, Inc.) of the system have passed testing in accordance with the U.L. "Burglary Resistant Vault Doors" and "Modular Panels" standards. Cameras, motion detectors, and entry way alarms are installed throughout the interior and exterior access points. The activity is monitored 24 hours per day, 7 days per week. Access from exterior points to interior spaces is limited by the use of biometric proximity readers that record all activity. A majority of employees assigned to the area are licensed to carry Brink's issued firearms. The Depository employs Metler Toledo SG32001DR high precision self calibrating balances. The scales weigh to a tolerance of 1/1000th of a troy ounce, and meet all of the Exchange's requirements

Thus we know where at least one of the world's largest precious metals depositories is located: deep underground the Diamond Tower located in the heart of Manhattan's jewelry district.

Another such supplement was filed by the Bank of Nova Scotia's Scotia Mocatta. What many may not know is that it was Scotia Mocatta's vault that was destroyed in the events of September 11, as SM's vault was located deep beneath 4 WTC. From the application:

The Bank of Nova Scotia’s Scotia Mocatta Depositary (SMD) is an Exchange-licensed depository for Gold, Silver, Platinum and Palladium. SMD has submitted applications, requesting that a new facility, located at International Airport Center, 230-59 International Airport Center Boulevard, Building C, Suite 120, Jamaica, New York, be approved for the storage of gold and silver deliverable against the COMEX Gold and Silver Futures Contracts, and for the storage of platinum and palladium against the NYMEX Platinum and Palladium futures contracts.

 

History: The Bank of Nova Scotia, doing business as SMD, is an Exchange Licensed Depository for the storage of gold, silver, platinum, and palladium, and its current facility is located in Manhattan at 26 Broadway. SMD was previously known as Iron Mountain Depository (IMD), its name was changed when it was acquired by the Bank of Nova Scotia in 1997. The IMD/SMD facility has been a COMEX licensed delivery point since 1975. SMD has planned to develop a new facility since the terrorist attacks upon the World Trade Center, which destroyed SMD’s facility at 4 WTC. SM subsequently returned to its existing and former facility as an intermediate measure while the new facility was designed and built.

 

In evaluating this application, SMD’s performance in the wake of the terrorist attacks on the World Trade Center must be noted. SMD’s Licensed Depository was located in a sub-basement of the WTC at the time of the attacks. When the material in this facility was trapped within the debris, SMD acted swiftly, offering to purchase any and all of the warranted material that was buried at the request of any holder of warrants to this material. Scotia further prepared to make replacement material stored in Canada available to offset any potential supply shortage that the destruction of its WTC facility might have caused.

So Scotia Mocatta's place for a new vault is deep in Queens under what is described as a "two-story elevatored building located in a four building industrial park, Located within close proximity to JFK International Airport."

Just in case the gold has to take off rather quickly we assume.

And since both of these applications also contained an official list of licensed "depositories and weighmasters" we finally can compile a full, official list of where the largest commercial gold vaults in New York are located:

We now know that in addition to Brink's vault lying on the bedrock at 580 Fifth, the following gold vaults are located as follows:

HSBC Bank USA 

1 West 39th St.
SC 2 Level
New York, NY

Manfra, Tordella, & Brookes   

90 Broad St. 
Sub-Basement
New York, NY

Scotia Mocafta Depository, a Division of the Bank of Novia Scotia   

230-59 Int'l Airport Center Blvd. 3002
Building C, Ste. 120
Jamaica, NY

Yet one name is missing. The same name which as we reported back in October 2010, reopened its undisclosed New York gold vault after it had been "mothballed in the 1990s." 

The name of course is JPMorgan.

Curiously (or perhaps not at all), when the CME on behalf of JPM submitted the certification filing alongside the comparable such supplements as filed by Brinks above, it requested a FOIA (Freedom of Information Act) confidential treatment. As a reminder, to be eligible for FOIA exemption status the protected information must be of vital importance to the nation's safety. This is precisely what JPM thought the details surrounding its New York vault are. To wit:

Pursuant to Sections 8 and 8(a) of the Commodity Exchange Act ("CEA"), as amended, and Commission Regulation 145.9(d), NYMEX and COMEX request confidential treatment of Appendix A, Appendix B, and this letter on the grounds that disclosure of Appendix A and/or Appendix B would reveal confidential commercial information of the submitters (NYMEX and COMEX) and of other persons. Pursuant to Commission Regulation 145.9(d)(5), NYMEX and COMEX request that confidential treatment be maintained for Appendix A and Appendix B until further notice from the Exchanges. We also request that the Commission notify the undersigned immediately after receiving any FOIA request for said Appendix A, Appendix B or any other court order, subpoena or summons for same. Finally, we request that we be notified in the event the Commission intends to disclose such Appendix A and/or Appendix B to Congress or to any other governmental agency or unit pursuant to Section 8 of the CEA. NYMEX and COMEX do not waive their notification rights under Section 8(f) of the CEA with respect to any subpoena or summons for such Appendix A or Appendix B.

 

Please contact the undersigned at (212) 299-2207 should you have any questions concerning this letter.

 

Sincerely, /s/ Felix Khalatnikov

Yet oddly enough, the FOIA request letter itself, while also being filed with a request for Confidential Treatment, never got it. As a result it was posted at this address. Ooops.

But a far bigger oops, is that on the first page of said declassified confidential FOIA app, in black ink, we get the missing piece:

In addition, the Exchanges are providing the Commission with the application summary of requirements for the JP Morgan Chase Bank N.A. facility located at 1 Chase Manhattan Plaza, New York, NY.

And so, despite the extended attempts at secrecy, we finally hit the proverbial goldmine vault.

So what do we know about 1 Chase Manhattan Plaza. Well, aside from the fact that the 60-story structure, built in the 1950s, was the headquarters of the once-legendary Chase Manhattan corporation, and which when it was built was the world's sixth tallest building, not much.

So we set off to learn more.

To learn more, we first went to the motherlode: the Landmarks Preservation Commission, whose report on 1 CMP describes everyone one wants to know about this building and then much more, such as that:

One Chase Manhattan Plaza combines three main components: a 60-story tower, a 2½ acre plaza, and a 6-story base, of which 5 floors are beneath grade.

So the old Chase HQ, once the stomping grounds of one David Rockefeller, and soon to be the other half of JPMorgan Chase, has 5 sub-basements, just like the NY Fed...

Reading on:

Excavations, said to be the largest in New York City history, reached a depth of 90 feet

Or, about the same depth as the bottom-most sub-basement under the NY Fed...

But then we hit the jackpot:

Originally constructed with white marble terrazzo paving and enclosed by a solid parapet of white marble travertine that was personally selected by Bunshaft in Tivoli, Italy, the L-shaped plaza levels the sloping site and conceals six floors of operations that would have been difficult to fit into a single floor of the tower, including an auditorium seating 800 [and] the world’s largest bank vault.

And there you have it: the JPM vault, recommissioned to become a commercial vault, just happens to also be the "world's largest bank vault."

Digging some more into the curious nature of this biggest bank vault in the world, we learn the following, courtesy of a freely available book written by one of the architects:

On the lowest level was the vault, which rested directly on the rock - the "largest bank vault in the world, longer than a football field." It was anchored to the bedrock with steel rods. This was to prevent the watertight, concrete structure from floating to the surface like a huge bubble in the event that an atomic bomb falling in the bay would blow away the building and flood the area.

In other words, the world's biggest bank vault, that belonging to the private Chase Manhattan empire, and then, to JPMorgan, was so safe, the creators even had a plan of action should it sustain a near-direct hit from a nuclear bomb, and suffer epic flooding (such as that from Hurricane Sandy).

It is no surprise, then, that the street entrance to this world's biggest vault located under 1 Chase Manhattan Plaza makes the entrance to any medieval impregnable fortress seem like child's play in comparison. Courtesy of Google StreetView:

and if you rotate the StreetView 180 degrees...


View Larger Map

 

 

Yet it is not what is on this side of the street, which just happens to be known as Liberty Street, that is what is the most interesting part of this whole story. It is what is on the other:

Or, shown another way...

That's right, ladies and gentlemen, as a result of our cursory examination, we have learned that the world's largest private, and commercial, gold vault, that belonging once upon a time to Chase Manhattan, and now to JPMorgan Chase, is located, right across the street, and at the same level underground, resting just on top of the Manhattan bedrock, as the vault belonging to the New York Federal Reserve, which according to folklore is the official location of the biggest collection of sovereign, public gold in the world.

At this point we would hate to be self-referential, and point out what one of our own commentators noted on the topic of the Fed's vault a year ago, namely that:

Chase Plaza (now the Property of JPM) is linked to the facility via tunnel... I have seen it.  The elevators on the Chase side are incredible. They could lift a tank.

... but we won't, and instead we will let readers make up their own mind why the the thousands of tons of sovereign gold in the possession of the New York Fed, have to be literally inches across, if not directly connected, to the largest private gold vault in the world.

We think readers can do a good enough job on their own.

h/t Ro

 

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Sat, 03/02/2013 - 15:50 | 3293857 Almost Solvent
Almost Solvent's picture

There's no gold there silly!

Sat, 03/02/2013 - 15:54 | 3293865 Skateboarder
Skateboarder's picture

Pane et Tungstenses

Sat, 03/02/2013 - 16:04 | 3293887 nope-1004
nope-1004's picture

So we've got physical addresses of vaults, yet when Pisani visits and holds up a bar, the serial # shows it doesn't belong?  Then the Queen is trotted out in the Longdon gold vaults for the LBMA?  And why last fall, when Germany wanted to come and 'see' their gold, Turbo Timmy refused them access to these vaults?

Why this is not making sense is obvious.

 

Sat, 03/02/2013 - 16:14 | 3293908 mjcOH1
mjcOH1's picture

"Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed?"

Well, back in 1928, the Treasury agreed that everytime it borrowed 1 metric ton  of FRNS it had no intention of repayng to buy the vote of an entitlement receipient, it would transfer possession of one ounce of gold to JPM.   Hence the enpty bunker at Fort Knox and the relocation to NYC of the remaining stock once the weekly truck shipment became less convenient than  the 5ft per minute conveyor belt across the street between vaults. 

You asked.

 

 

 

Sat, 03/02/2013 - 16:26 | 3293929 TruthInSunshine
TruthInSunshine's picture

I drank much monk brewed ale last night, after a week of strenuous mental agility exercises.

Wake up on a Saturday, and BOOM! Zero Hedge Jedi "Mind Meld"  IN MY FACE.

Whether it's all for real or all for show, actuality or some false dichotomy, I'm thinking that the House of Morgan is Mister Geppetto & the central fractional fiat reserve banks are all marionettes.

Sat, 03/02/2013 - 16:27 | 3293946 francis_sawyer
francis_sawyer's picture

Comment of the day ~ LOL

Sat, 03/02/2013 - 16:33 | 3293962 knukles
knukles's picture

Ya-no, it's really all probably just maybe, another coincidence after all.
(Cheech Martin laugh like when he said "we don't any more" to the officer)

Sat, 03/02/2013 - 18:40 | 3294179 Xibalba
Xibalba's picture

Bankers playing pong with other peoples gold...

Sat, 03/02/2013 - 21:30 | 3294557 SafelyGraze
SafelyGraze's picture

"The truth is financial authorities in all civilized countries have recognized for some time that gold is wasted in general circulation.

Gold should be concentrated in reserves of the banks -- more particularly the government banks -- and paper money put in circulation"

saturday evening post, 1914

Sun, 03/03/2013 - 00:35 | 3294802 FEDbuster
FEDbuster's picture

Just checked my gun safe, everything is safe and sound.  No tunnels, no rehypothication, no counterparties, no leasing, no ETFs, no eight year wait to get my gold.......

Sun, 03/03/2013 - 01:17 | 3294851 jeff montanye
jeff montanye's picture

then you are, perhaps, mexican not german.  just joking. the mexicans have their gold in london (or so they have been told).  this is the biggest financial story since too big to fail, jail, rail, detail, nail).

Sun, 03/03/2013 - 02:49 | 3294923 Element
Element's picture

 

 

Barbarous relics are often fragile and very rare so this is really just a philanthropic museum initiative by JPM, and that other home of barbarous relics, the FED. All completely Kosher! Good on you jpm, make sure you put greenspam and bernanka in there too! 

A little love song, for all you guys:

http://www.youtube.com/watch?feature=player_detailpage&v=2LE0KpcP05I

Sun, 03/03/2013 - 03:33 | 3294951 The Heart
The Heart's picture

In the same spirit and trumpeting brotherhood around this world.

One for all...and All for One!

There is no us and them...there is only us all!

http://www.youtube.com/watch?v=-s2dNryS1d4

Sun, 03/03/2013 - 05:10 | 3294975 jaap
jaap's picture

just park your sonic probing truck in Liberty Street. A tunnel at 90 feet should show up in the data/graphs.

http://www.bouwmachineweb.com/fotos/albums/userpics/10064/TGS_18_440_4x4_Inpijn-Blokpoel-2.jpg

 

Sun, 03/03/2013 - 06:47 | 3295013 GetZeeGold
GetZeeGold's picture

 

 

 

 

It's good to know both crime scenes are close to each other....should cut down on the manpower required should we actually decide to investigate.

Sun, 03/03/2013 - 07:21 | 3295032 BaBaBouy
BaBaBouy's picture

Good Reporting TYLER ...

 

There Is Probably A Secret Passage Between The Two Vaults, Complete With Conveyor Belts???

Only Ben Shalom Has The Key...

Just Sayin', If  All That Guilded Tungsten Has To Be Moved In A Hurry...

Sun, 03/03/2013 - 07:41 | 3295043 BaBaBouy
BaBaBouy's picture

Just Fuckin' Great ...

 

All Our CB GOLD Is GONE, And We Have A GENIOUS President Who Thinks The Jedi's Do The Mind-Melds ...

Sun, 03/03/2013 - 07:55 | 3295050 Short Memories
Short Memories's picture

should've hit that one with a plane!

Sun, 03/03/2013 - 10:41 | 3295234 DaveyJones
DaveyJones's picture

my favorite thing in the whole article is the phrase "tool resistant"

Sun, 03/03/2013 - 11:25 | 3295278 Pinto Currency
Pinto Currency's picture

 

If the Germans were allowed in to the NY Fed vaults to inspect their gold they might just say "What's behind that door that says JP Morgan Chase on it?"

It may not just be Ft. Knox that putatively has gold problems.

"One of the first written accounts questioning the amount of gold really stored in Fort Knox appeared in 1974 in a tabloid, the National Tattler. An unnamed informant claimed that there was no gold left in Fort Knox. The sensational nature of the story, and of the newspaper, wouldn't perhaps contribute to the credibility of the account but it was later revealed that the informant, Louise Auchincloss Boyer, secretary to Nelson Rockefeller, had fallen out of the window of her New York apartment and died three days after the publication in the Tattler."

http://www.safehaven.com/article/28244/credibility-of-the-us-bullion-depositary-and-the-possible-price-of-gold

Sun, 03/03/2013 - 11:29 | 3295289 strannick
strannick's picture

 

 

Its not 2 vaults and one tunnel, its 1 vault and 2 doors

Sun, 03/03/2013 - 13:41 | 3295537 disabledvet
disabledvet's picture

word is "the Chase Manhattan building stinks as a workplace" though. Goes to show you "what all that gold gets you." (nice vault...nothing more.) Of course after Bear Stearns..."here's what all that gold gets you": http://en.wikipedia.org/wiki/383_Madison_Avenue
"stiff and boring"...but brand phucking new when Jamie Dimon and Co. moved in in 2008.
here's a shameless plug for Bill Cohan's book: http://en.wikipedia.org/wiki/House_of_Cards_(Cohan_book)
"otagonal structures" are an interesting motif. historically speaking ontagonal structures were "purpose built" http://www.topsider.com/octagonal-homes.asp
my understanding is that "they used octagons because they couldn't design a build something circular...so they went for 8 sides instead as the math was still do-able." sounds like Bear Stearns all right. "when you have all the gold in the world who cares about math" right?

Mon, 03/04/2013 - 03:19 | 3297085 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

You're reading this right, Putin?

Sun, 03/03/2013 - 22:27 | 3296606 Dubious Maximus
Dubious Maximus's picture

good point, as opposed to "tool proof". Resistance is futile

Sun, 03/03/2013 - 12:46 | 3295440 CheapBastard
CheapBastard's picture

"Possession is 10/10ths of the Law."

Sat, 03/02/2013 - 18:56 | 3294201 Againstthelie
Againstthelie's picture

The answer is simple why:

Hjalmar Schacht, Germany's chief of the Reichsbank, wrote in his memoirs, that when he visited the NY Fed in the 1920s and the governour wanted to show him Germany's gold, he couldn't find it and that he was totally ashamed. Schacht said to him: "Don't worry, i trust you that it is here."

And that this never can happen again, they decided to have a very big vault nearby...

Preferrably with direct access via underground. For safety reasons, you know. ;-)

I'd like to know, how the central foreign banks that have gold at the NY Fed, are feeling now, since they know, that a more private bank than the private bank FED is the very close neighbour... I somehow have the feeling, that only the first ones with not so much trust, will get their gold back.

Sat, 03/02/2013 - 19:46 | 3294319 knukles
knukles's picture

Was the problem finding Germany's gold or Ny gold in general?

BTW.  If my memory serves me well, y'all know that glossy the NYFed puts out with the pic of the gold bars?
Take a look at the shape in one of 'e,
Squareish, like bricks.  Not tapered etc.
Not LBMA good delivery, folks.
Just sayin'

Sat, 03/02/2013 - 20:29 | 3294438 Acet
Acet's picture

What's really nice is how the other JP Morgan vault - the one located in London - is right next to a tube (metro) line at the same depth which in turn also passes right next to the Bank of England's vault and which is closed every Sunday (unlike any other tube line in London).

It seems like quite a convenient arrangement for any central bank that acts as depository for sovereign gold of other nations and wants to quietly lease out said gold.

Now ask yourself, why would the BoE and the Fed have such convenient, easy and above all secret physical connecton between the vaults where they store other nation's gold and the vaults of a private entity which is known to trade heavilly in PMs and PM futures and options ???

Sat, 03/02/2013 - 21:38 | 3294547 Muppet Pimp
Muppet Pimp's picture

Old rumor was that part of the reason for the creation of the FED was that the American people (et al) would find it distasteful for JP Morgan be the entity that set the price to borrow dollars. 

Also worth noting that JPM was the least involved in the subprime fiasco out of the big banks and held sufficient capital aka fortress balance sheet to weather the storm on their own.  To this day, most of their involvement in all that mess is due to their acquisitions of failed entities.  They seem to play the long game over there. 

Is this piece a prelude to the truth being made known?

Sun, 03/03/2013 - 01:32 | 3294867 CompassionateFascist
CompassionateFascist's picture

I don't want my gold/silver in 2 places at once. I want it in 3, 4, 7, 11, 19 places at once. Then it's safe.

Sun, 03/03/2013 - 13:55 | 3295556 disabledvet
disabledvet's picture

Jamie Dimon made some bad moves in M&A? Really? I will say that his M&C Bank truly is a colossus now. There are only three like her...HSBC and UBS. Bank for America, Bank for Britain and Bank for Europe...sound about right? "All playing from the long game" as you so correctly put it. "truth be told" there is no such thing as a "fortress balance sheet" in a world where banks are...ahem..."publicly traded." THAT's your bank capital...not something on some spread sheet somewhere. obviously "money" wasn't all that protected "back in day" (turn of the 19th to 20th century.) seems even less protected today actually..."truth be told...but never known." Here's the type of "vault" the Government can make: http://en.wikipedia.org/wiki/Wieliczka_Salt_Mine people laugh but the REAL rumors are not "where the gold vault is" but "where are the huge underground cities" the West has been building for decades. "and are they connected by vast underground rail links that can travel at speeds in excess of....

Sun, 03/03/2013 - 03:52 | 3294903 Troy Ounce
Troy Ounce's picture

Next time I'm in London, I will take the Waterloo - City tube line and sit on the left hand side. 10 to 1 there will be a diversion underneath JPM's vault alternatively a mini-tube station. Or at least a door positioned at the same level as the entrance of the tube.

I will use my mobile phone to make a HD video (with light). See here the exact location of the tube lines: carto.metro.free.fr/cartes/metro-tram-london/index.php?station=Blackfriars 

What I want to prove is that there is direct underground access from private to public gold vaults, be it in NY or London. OK, OK, at least chip away the msm credibility story.

It is a shell game which needs to be exposed.

Of course, Londoners with nothing else at hand.....(Waterloo-City tube line closed on Sundays..), please post your findings below.

Sun, 03/03/2013 - 10:32 | 3295223 DaveyJones
DaveyJones's picture

increase your life insurance

Sun, 03/03/2013 - 22:40 | 3296639 old naughty
old naughty's picture

as if it grants you 'protection'?

And yet you will never enjoy compensation.

Sun, 03/03/2013 - 06:56 | 3295021 Againstthelie
Againstthelie's picture

IIRC Schacht wrote about this happening at the NY Fed when Strong wanted to to show him the bars only. I don't know, if Germany's gold holdings in the US was concentrated at the NY Fed only.

Sat, 03/02/2013 - 21:53 | 3294590 vamoose1
vamoose1's picture

Exactly    great  post.

But  this  thing  is   getting  loose    and   panicky.

We  now   have Venezuela   Azerbaijan, Austria  The   Netherlands   Germany   Australia  and   today   Mexico  at   various    stages  of   the   repatriation  process

    And  these   are   only   the   ones   we   know   about...   what  about  the   white   knuckled   other   60   countries    with  their  gold   ostensibly   at  the  NY Fed....    sure  it   is     which  is   why   it   will   take  Germany    40   bloody   years   to   get   their  gold    delivered   when  its    about   4   Lufthansa flights   they    could   knock  off   in   a   day.

Lest  we   forget  Germany   left   their   thousand   tons  at  Bof  E.     which  rather   implies  its  stolen  too. Hence  an   87  year old  Queen   touring the  B  of  E   Gold   vault    virtually   vomiting.

   The   next  day   she   attended   a   cabinet   meeting   the    first  British   royalty   to   do  so   since  the   late  1700s.

  If  i  were  Mexico    popping  in   for   my   little   audit   i  would   sorta    change  my   mind  raise  the   stakes   to  a  full   repatriation   and  have   3 Aer   Mexicana  planes idling  at  Heathrow destination  Mexico   City   having   spent   the  previous  night   praying   their   position    might   be   small    enough    to   actually   get   filled.

 

    But  the   big  question   is     the   bond   market...  Sovereign  or   not    financial   intermediaries    cannot   hold  T Bonds   issued   by  common   criminals.  They   will   never   get  out  of   court.

    And   the   second   question is what   are  the   other   60   countries    doing   who   thought   their   gold  was   safe   at  NY  FEd.  Not   exactly   it   went    down  that  Tunnel  to  JPM   who  used  it  to   suppress  the   gold   market    for  the   last   33  years  

  

Sun, 03/03/2013 - 00:11 | 3294778 Rathmullan
Rathmullan's picture

That's why Jamie Dimon is richer than you.

Sun, 03/03/2013 - 09:28 | 3295123 aint no fortuna...
aint no fortunate son's picture

He who sells first (or repatriates) wins

Sun, 03/03/2013 - 11:26 | 3295283 Urban Roman
Urban Roman's picture

Keep your eye on the pea. 

And pay no attention to that hole in the table..

Sat, 03/02/2013 - 16:31 | 3293955 NoDebt
NoDebt's picture

You didn't need to think that hard.  Just watch "Oceans Eleven" and you got it.

Sat, 03/02/2013 - 20:20 | 3293967 francis_sawyer
francis_sawyer's picture

I was thinking more like 'The Crying Game'...

~~~

& well... since nobody has noticed yet... The JPM Tower [in the foto caption] looks like...

~~~

http://www.youtube.com/watch?v=0B4suxQVUAQ

Sun, 03/03/2013 - 00:29 | 3294795 ClassicalLib17
ClassicalLib17's picture

Listen up, junior,  I used to swill beer and wine at your age, but at 59 years I find that fine kentucky bourbon keeps my arthritic joints well oiled and flexible.  Stop your bad habits now before the cogeners ruin your cartilage.  Bourbon is king

Sun, 03/03/2013 - 01:23 | 3294859 jeff montanye
jeff montanye's picture

thank you for the observation on cartilage.  you can never have enough (rhinoplasty excepted).

 

Sun, 03/03/2013 - 00:38 | 3294804 Kirk2NCC1701
Kirk2NCC1701's picture

The world's been "Morganized".  Even the Germans say "Guten Morgen" out of respect, every day.  ;-)

Sun, 03/03/2013 - 07:00 | 3295022 supermaxedout
supermaxedout's picture

Heil Uebermorgan!

Sat, 03/02/2013 - 17:39 | 3294093 Turd Ferguson
Turd Ferguson's picture

WOWOWOWOWOW!!! GREAT STUFF, ZH!!!!

Sun, 03/03/2013 - 00:18 | 3294782 Dieselclam
Dieselclam's picture

I hope someone gets a bucket of paint and makes hash marks over that tunnel and both vaults and writes "Zero Hedge says 'dig here'."

Sun, 03/03/2013 - 02:37 | 3294915 Buck Johnson
Buck Johnson's picture

One day when everyone truly find out how much of a ponzi the American aka the western banking system is, it will take down whole countries. 

Sat, 03/02/2013 - 16:14 | 3293912 Manthong
Manthong's picture

A lousy two million ounces of silver?

That’s hardly the catering bill at one of Jamie Dimon’s Hamptons soirées.  

Sat, 03/02/2013 - 17:10 | 3294044 Pascal1967
Pascal1967's picture

Like Jamie says, "That's why I'm richer rhan you!"

Sat, 03/02/2013 - 17:37 | 3294090 JustObserving
JustObserving's picture

 "That's why I'm richer rhan you!"

He meant to say that I am a bigger dickhead than you are.  But he said it anyway.  

Sun, 03/03/2013 - 21:56 | 3295625 Lore
Lore's picture

.

Sat, 03/02/2013 - 17:12 | 3294046 unununium
unununium's picture

You must value it POST-RESET.

Sat, 03/02/2013 - 23:19 | 3294716 tmosley
tmosley's picture

That is about 67 tons of silver, and 33 tons of gold/platinum/palladium.

This amount is very tiny compared with what they are supposedly holding for SLV and GLD (I don't remember if they are custodian for GLD or not, tired after a long day).  Makes one think bad thoughts, like "they never even bothered to make a vault big enough for all the silver they never planned to buy".

Sat, 03/02/2013 - 19:42 | 3294315 Kirk2NCC1701
Kirk2NCC1701's picture

For a smart & practical people the German Bundesbank sure isn't acting that way.  If they wanted to get all their gold -- and other people's gold also -- then they should just "pull a Buffet":  Buy controlling shares of JPM.  Via a series of open and hidden channels.  Then they'd get to sit on the Board (like the R family) and tell JD what to do.  "Ende des Drama, Ende der Geschichte!".

Sun, 03/03/2013 - 02:42 | 3294920 Missiondweller
Missiondweller's picture

"Buy controlling shares of JPM"

 

Brilliant!

Sun, 03/03/2013 - 02:17 | 3294888 vamoose1
vamoose1's picture

absolutey   correct.....here  is  a   funny   story.........    as  it   happens   i   know   her   majesty   the  Queen   i   might   even   say   we   are    slightly   tight    she  is   87   now    but  she   was   damn   near to   streaking   those  Bank  of   England tungsten      bars  she   looked   very    challenged   and   mad   as   a    hornet   when   she   went   bar   hopping   at  b   of   E

      i  met   her  at   age   4   actually   on  a   royal   visit   to    canada      it  was   gulp    1951   and   she   was   driving   by  in   an  open   car ...   they   of   course    had   security   barriers  up    all  right    since   about half   the   country   showed   up    for   the  parade    but  they   neglected   to   consider  a   that  very   small   person  could  go  UNDER  the  barrier   and   did   so

    I  moved   fast   in  those   days    and   went   right    for   her  like   a   shot   as   she   drove   slowly   by   in  the   open  car

    I  was    cute   it   was   clear  from  her   restrained  Royal   reaction   that   she   quite  liked   me   and  i   actually   made  it  to  the   running   board   of  the    regal   limousine    on  the   street      and  was   going  to   hop   in   with   her  when  an   extremely   large   police   officer  (or  so  he appeared)  swept   me   way  up  in  the  air.....   still   running   and  returned   me   to  my   mother.

  My    mother  was   not  amused

 

    Nor  for that   matter   was   the   Queen  in  the   LBMA   gold  vault    i  know   her   ....   those   bars  left   her   distinctly   unimpressed ....   true   story  :)

Sun, 03/03/2013 - 22:31 | 3296618 old naughty
old naughty's picture

If it takes one more than 60 years to wake up...

and so many haven't...

perhaps all should listen more to David Icke, Stuart Wilde, and the like?

 

Bet you didn't trot out to greet HM the last few visits?

Just saying...

 

Sun, 03/03/2013 - 04:25 | 3294966 RazvanM
RazvanM's picture

Merkel to Timmy: We want our gold back now!

Timmy: You and what army?

Merkel: Okay, we want it in 5 years, or else...

Timmy: We will promise to give you in 5, but it will be closer to 100 years. OKAY?

Sat, 03/02/2013 - 16:03 | 3293889 NemoDeNovo
NemoDeNovo's picture

Hey whats wrong with Gold Plated Tungsten?  Without it the Bernak would be out of a Job!!!

 

Long Tungsten........

Sat, 03/02/2013 - 16:09 | 3293897 scatterbrains
scatterbrains's picture

They may not even have the tungsten either.   Shift the fake bars under one building and have an audit then shift the same fake bars under the other building and order another audit.. sorta like trying to pick which shell the pea is under ?

Sat, 03/02/2013 - 16:36 | 3293966 knukles
knukles's picture

Like 3 Card Monty?
Nope, the Queen's under this one!
Ahhh, too bad, that's Pisani, there!
Aw, sorry, but only 2 tries to find the gold, Muppet!
Wadda fuck you mean?  If it weren't under the first two then it has to be under the last one I didn't show you.
Krugman says so.
Back to work, peasant.

Sat, 03/02/2013 - 16:41 | 3293982 Skateboarder
Skateboarder's picture

Joke's on the security for the place. They think they're actually protecting something lol!

Sat, 03/02/2013 - 16:51 | 3294003 mjcOH1
mjcOH1's picture

They think they get paid well to show up every day and shut up about it.

Sat, 03/02/2013 - 19:28 | 3294283 Kirk2NCC1701
Kirk2NCC1701's picture

You do know what major shareholder at JPM, WF and BAC has cornered the tungsten (W) market, don't you?  Hint:  initials are WB.  Not Warner Brothers.

Sat, 03/02/2013 - 16:22 | 3293930 KingPin 999
KingPin 999's picture

One of the simplest reasons for connecting vaults is the oldest trick in the book. In case of inspection--just shift all gold to one vault. 

Sat, 03/02/2013 - 16:34 | 3293965 Buckaroo Banzai
Buckaroo Banzai's picture

Bingo. The JPM letter is dated March 15, 2011. What, specifically, happened in the world financial environment around that time to make them take this vault out of mothballs for their nefarious purposes?

Sat, 03/02/2013 - 16:39 | 3293980 knukles
knukles's picture

Oh yeah!
That's the deal that they approved themselves as a LBMA member, if I remember correctly.

LOL

Any other bidnez than money, it'd all have to be disclosed, audited, opened up to the public's inspection... whatever...

But not in the money game.

Telling ya' sumptin'?

Sat, 03/02/2013 - 18:00 | 3294124 Cathartes Aura
Cathartes Aura's picture

that it's a big club, and we're not in it. . .

great post ZH, certainly a head shake, with a wry smile

Sun, 03/03/2013 - 12:17 | 3295385 Zero Debt
Zero Debt's picture

The trick will be to audit both gold vaults at the same time and kill any minions running around in the tunnel with gold/tungsten bars.

If you just audit the Fed, then the JPM vault will be empty.

If you audit the JPM one, the Fed one will be empty.

The Arizona Border Patrol may be able to help those auditors as they know something about tunnels.

Sun, 03/03/2013 - 15:05 | 3295677 Lore
Lore's picture

 

 

Could both vaults be emptied?  

Estimates vary as to the inventory supposedly recovered from WTC4 and/or 5 post-911. HERE's one link:

"There appear to be no reports of precious metals discovered between November of 2001 and the completion of excavation several months later. Assuming that the above reports described the value of precious metals in the vaults before the attack, and that the $230 million mentioned by Giuliani represented the approximate value of metals recovered, it would seem that at least the better part of a billion dollars worth of precious metals went missing..."

...Why is there this huge discrepancy between the value of gold and silver reported recovered, and the value reported to have been stored in the vaults? There are a number of possible explanations, from outright theft using the attack as cover, to insurance fraud. Until there is a genuine investigation that probes all the relevant facts and circumstances surrounding the attack, we can only speculate."

I find it inconceivable that any large banking institution might be capable of fraud.

Sat, 03/02/2013 - 19:23 | 3294270 MarsInScorpio
MarsInScorpio's picture

For those of us who are not historians, what happened about that time that interlinks with the JPM vault situation?

-30-

Sat, 03/02/2013 - 19:35 | 3294300 Buckaroo Banzai
Buckaroo Banzai's picture

Well, here's one thing that definitely happened.

"In November 2010, the Fed announced a second round of quantitative easing, or "QE2", buying $600 billion of Treasury securities by the end of the second quarter of 2011"

http://en.wikipedia.org/wiki/Quantitative_easing

Sat, 03/02/2013 - 16:53 | 3294006 cynicalskeptic
cynicalskeptic's picture

NO direcrt connection between the two - unless there's been some major construction of late.  This is a case of simple coincidence and pragmatic location for both.

I'd actually be surprised if the gold is still IN the Maiden Lane vaults instead of Jersey.  Rumors of trucks emptying the vaults and transferring to ErOC after 9/11.

As for JPM.......     you really need that much space for a stack of IOU's?

Sat, 03/02/2013 - 19:21 | 3294267 Kirk2NCC1701
Kirk2NCC1701's picture

Was there not also some big vault in the basement of WTC1 or 2?  Wonder what happened to its contents before or after 'The Event'?

Sat, 03/02/2013 - 20:31 | 3294444 francis_sawyer
francis_sawyer's picture

Let's ask 'Larry Silverstein'... Collector of $7 billion in double indemnity after the collapse of the buildings he was... before the unfathomable accident... going to need to GUT to pull out all the asbestos [on his own nickle]... I'm sure we'll get the straight scoop from him...

Sun, 03/03/2013 - 10:22 | 3295199 ToNYC
ToNYC's picture

Larry's rabbi told him not to worry when he was buying "Nelson and David" as the towers were affectionately called on the drawing boards, for a whole million dollars. It wasn't too good to be true in early 2001, but 7 billion later for 2 discreet and unrelated events, the advice made pretty good sense.

Sun, 03/03/2013 - 11:31 | 3295299 Urban Roman
Urban Roman's picture

It's 'Larry Goldstein' to you, muppet!

Sat, 03/02/2013 - 22:55 | 3294677 cynicalskeptic
cynicalskeptic's picture

Speaking from first hand experience.  I expect none of the down arrows have ever even seen ONE bar of London Good Delivery much less a vault full.

Sat, 03/02/2013 - 23:23 | 3294725 tmosley
tmosley's picture

No one on earth has seen a vault full, more than likely.

If there is a vault full of shiney stuff somewhere, it is probably filled with dense brittle, decidedly non-golden metal.

Sun, 03/03/2013 - 22:37 | 3296634 old naughty
old naughty's picture

It's the way you said it...

"No one on earth has seen..."

 

Sat, 03/02/2013 - 16:55 | 3294013 Whiner
Whiner's picture

Billie Saul Estes, Bitchez!

Sun, 03/03/2013 - 10:23 | 3295206 ToNYC
ToNYC's picture

Billy Sol Estes, the sun-king of hypothecation.

Sat, 03/02/2013 - 19:54 | 3294340 zjxn06
zjxn06's picture

Need to inspect both vaults.  At the same time!

Sun, 03/03/2013 - 10:25 | 3295211 ToNYC
ToNYC's picture

No eyes can stretch across the street at the same time to see the blinding speed of metallic hypothecation in action.

Sat, 03/02/2013 - 20:13 | 3294400 Sizzurp
Sizzurp's picture

Ahh, the old shell game trick, by Sir Swapsalot.

Sat, 03/02/2013 - 16:41 | 3293983 Crash Overide
Crash Overide's picture

"There's no gold there silly!"

I thought this is where they convert gold to paper through alchemy no?

That's why USD is so val·u·a·ble?

Sat, 03/02/2013 - 16:55 | 3294010 Go Tribe
Go Tribe's picture

Tyler, you've been had again. For they are not vaults, but massive squid birthing tanks.

Sat, 03/02/2013 - 17:04 | 3294030 vamoose1
vamoose1's picture

Mexico has   now   just  formally  requested  the  return of  its   gold  from the NY   Fed   and   it  is  one   of  60   countries   so  lodged.

    The  German  delivery   schedule   which  would   gasp    actually  take   40   years  to   fully    complete   clearly  demonstrates  that the United States   has  for  all  practical  purposes  stolen  these    countries  gold.

    I  would   submit  that these Sovereigns  are  in  a   bona   fide   breach  of  fiduciary  duty   if  they   continue to   hold  a  US  t Bond

    I  further   submit  that    they   must  sell  the   bonds  they   hold    of  this   criminal   country   as   logically  should  all   financial  intermediaries. You   do  not   hold  the  Bonds  of  a   criminal   enterprise. Cannot   be   done,  Out  of  Dodge  starting  Monday

    There   are  17  trillion   T bonds  out  there   not  to  mention  all  the guarantees

Sat, 03/02/2013 - 17:44 | 3294102 Not My Real Name
Not My Real Name's picture

Mexico will have to wait. Bernake told them he lost all their gold in a terrible boating accident.

Sat, 03/02/2013 - 22:48 | 3294665 Manthong
Manthong's picture

“There are 17 trillion T bonds out there”

Well, the happy news is that the US is solvent to their collectivist minds since they own us all lock stock and barrel and that $17 Trillion  just happens to be the amount in total US retirement assets that they are pleased to take control of whenever they want.

Sun, 03/03/2013 - 15:52 | 3295773 Urban Roman
Urban Roman's picture

It was Hurricane Sandy. 

Flooded the basement, and who knew gold was soluble in sea water? 

Sun, 03/03/2013 - 19:43 | 3296185 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"...who knew gold was soluble in sea water? "

Aqua Regia?

Sat, 03/02/2013 - 19:16 | 3294257 Kirk2NCC1701
Kirk2NCC1701's picture

Cite verifiable references please.  Else it's just 'hearsay'. 

Sat, 03/02/2013 - 21:35 | 3294567 lotsoffun
lotsoffun's picture

sounds pretty good, (everybody dump us treasurys) ((look at that word.  treasury.  a real treasure?))   except, they all borrowed back again based on the fact that they held us treasurys as collateral.  so - we're all f*cked.  there no gold and nothing backing anything, and nobody is going to get paid back  :)  pretty funny huh

it's going to be a lot of fun.  the gold and the 'money' has been lent over and over so many times.

actually, i don't think it will be that bad.  maybe the stadiums close, maybe no more rappers riding in limo's down the streets of every capital city globally,  but there will still be apples and potatos to eat.

Sat, 03/02/2013 - 22:37 | 3294652 BobPaulson
BobPaulson's picture

Yeah, like Mexico is a sovereign country or something. They will have to ask the DEA who has taken over if they are allowed to make that request.

Sat, 03/02/2013 - 23:00 | 3294684 cynicalskeptic
cynicalskeptic's picture

The irony is that the flow of dollars OUT of the US to pay for this nation's drug habit is huge - a serious (if unreported) balance of trade deficit).  Think of how much wealth flowed out of China to support its Opium addiction.  

The 'upside' is that the illegal proceeds get laundered through the International Banking system and 're-invested' back in the US.... SOMEONE is buying all that Florida Real Estate - and collector cars and art and ..... just look at recent Federal auctions of confiscated goods....

Wed, 03/06/2013 - 13:07 | 3305188 BobPaulson
BobPaulson's picture

Exactly. Another failed experiment was alcohol prohibition. Some of the richest Canadian families got they way for making whiskey back then.

Sun, 03/03/2013 - 01:50 | 3294878 CompassionateFascist
CompassionateFascist's picture

"United States" has no sovereignty vis a vis Jews/Israel. They are the thieves. Hell, they even hypothcate corpses: just today, "researchers" at the "Holocaust Memorial Museum" announced the "discovery" that not "6 million" but "15-20 million" Jews were offed during the "Holocaust"TM.

Sat, 03/02/2013 - 17:22 | 3294062 vamoose1
vamoose1's picture

   bond run     manic     monday

Sat, 03/02/2013 - 18:53 | 3294210 clara-to-market
clara-to-market's picture

The world has been taken over by thieves with Ivy League degrees.

No shit.

Quite sad.

http://www.angrysinner.blogspot.kr/2013/03/saturday.html

Sat, 03/02/2013 - 19:15 | 3294248 hankwil74
hankwil74's picture

You are aware that you can go and see the Fed's gold vault whenever you want to, right?  They give tours that are open to the public.

 

http://www.newyorkfed.org/aboutthefed/visiting.html

Sat, 03/02/2013 - 21:04 | 3294506 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Wouldn't that be like touring Madame Tussauds, with the guide informing you that the wax figures are alive though you are not permitted to touch them or attempt to strike up a conversation, etc.?

Sat, 03/02/2013 - 22:35 | 3294650 401-Kulak
401-Kulak's picture

The vault image on the website has a lot of stuff that is gold colored - will grant you that.

Sat, 03/02/2013 - 19:28 | 3294284 buryfarmer
buryfarmer's picture

There is also a tunnel that links the Bank of Englands gold vault to JPM Morgans gold vault you can see it here:  (my guess is so the can move gold between the two vaults and pretend twice as much gold exists)

Sun, 03/03/2013 - 17:38 | 3295966 jmcoombs
jmcoombs's picture

When they eventually open either of those vaults, a few cockroaches will scurry out...............at least something is in there.............shouldn't have all that tight security for nothing.......

Fri, 03/15/2013 - 17:50 | 3333616 goBackToSleep
goBackToSleep's picture

exactly! Let me tell you that if I have the ability to melt two or three large buildings in broad daylight and walk away without being touched, you probably aren't going to want to fuck with me. Does no one find it interesting that the US was supposedly the world's super power; however held no gold and our currency valuation has never been higher than the aristocracies currency. Did I mention that they couldn't be talked into the Euro either. Hmmmmmm......... Interesting indeed.

Sat, 03/02/2013 - 15:52 | 3293859 pan
pan's picture

Bankster porn!

Sat, 03/02/2013 - 15:53 | 3293860 falak pema
falak pema's picture

Timmy's Ali Baba cave; belonging to his masters; when he was King of NY Fed! 

Sat, 03/02/2013 - 15:53 | 3293862 negative rates
negative rates's picture

It must have been the closest place to make the deposit at the time.

Sat, 03/02/2013 - 15:54 | 3293863 francis_sawyer
francis_sawyer's picture

Let's consult the witch [from 'Hansel & Gretel'], or granny [from 'Little Red Riding Hood'] for the definitive answer...

Sat, 03/02/2013 - 15:54 | 3293864 Atomizer
Atomizer's picture

Audit the facility. Then we can have a adult conversation. 

Sat, 03/02/2013 - 16:11 | 3293904 unununium
unununium's picture

My foolish boy.  Unless the Fed and JPM are audited SIMULTANEOUSLY, is does not have to exist in both vaults. 

Unless you think there's no tunnel between them.

Sat, 03/02/2013 - 16:24 | 3293939 Börjesson
Börjesson's picture

A metal so nice, they counted it twice.

Sat, 03/02/2013 - 19:18 | 3294263 Kirk2NCC1701
Kirk2NCC1701's picture

The ultimate Double-Entry bookkeeping

Sat, 03/02/2013 - 16:44 | 3293993 Atomizer
Atomizer's picture

Let's cut through your nervous chatting and fucking move forward my new mindless shill.

Sat, 03/02/2013 - 18:48 | 3294196 duo
duo's picture

Hence the quantum theory of gold.  One can not see the gold and KNOW ITS LOCATION at the same time.  Doing one impacts the other.

Where's my Nobel Prize?

Sat, 03/02/2013 - 22:07 | 3294604 Real Estate Geek
Real Estate Geek's picture

Can I instead intrerest you in a Nobel Memorial Prize?

Sat, 03/02/2013 - 22:23 | 3294631 duo
duo's picture

my bad, I meant "gold uncertainty principle".  Apologies to Dr. Schrodinger.

Sat, 03/02/2013 - 21:19 | 3294529 Jim in MN
Jim in MN's picture

With many, many armed civilians and amatuer videographers in close observation the entire time. 

Sounds like a party!

Sat, 03/02/2013 - 18:06 | 3294134 Bear
Bear's picture

Nuke it instead ... remember Goldfinger Rules ... just let me get long(er) first.

Sat, 03/02/2013 - 15:57 | 3293866 Pseudo Anonym
Pseudo Anonym's picture

that's right ladies and gents.  this is the key

the world's largest private, and commercial, gold vault

if you think all those paper tickets, gold iou's, you own are your claims on your gold stored w/ jpm - you are wrong.  banksters have always done the same thing.  default on paper and keep the metal.  good luck with your etf gld, slv, etc.  this is the private vault pretending to be commercial.  it's a private club and you're not in it.

Sat, 03/02/2013 - 15:56 | 3293867 ISEEIT
ISEEIT's picture

My oh my....These fringe bloggers born of rabble rousing Fathers become more pesky each passing day.

Now back to the 'news'.

:)

Sat, 03/02/2013 - 16:10 | 3293902 Atomizer
Atomizer's picture

Open the vault door fucknut. Shall we see, cobwebs, two bars of gold or be showered with crunched up IOU's flooding waist high?

Sat, 03/02/2013 - 15:56 | 3293868 bugs_
bugs_'s picture

Both freight elevators go to the same place

Sat, 03/02/2013 - 18:51 | 3294206 francis_sawyer
francis_sawyer's picture

Let me guess ~ underneath PARKINGTON LANE at the old Trinity Church at the corner of Broadway & Wall...

Sat, 03/02/2013 - 15:58 | 3293870 Troncom
Troncom's picture

Just a reminder that there are lots of Gold Plated Tungsten bars out there

http://en.wikipedia.org/wiki/Brink's-MAT_robbery

 

Sat, 03/02/2013 - 15:58 | 3293871 ironmace
ironmace's picture

Oceans 14 anyone?

Sat, 03/02/2013 - 16:01 | 3293885 NemoDeNovo
NemoDeNovo's picture

Too bad we will never see that Flick since Bernie Mac is gone RIP

Sat, 03/02/2013 - 16:00 | 3293872 israhole
israhole's picture

It's a big, fat Jew-fest and we're the stupid goyim, right?  This way they thieves can count it twice, as long as it's in the same neighborhood and they never get audited on the same day.  Go back to sleep.

Sat, 03/02/2013 - 16:21 | 3293924 francis_sawyer
francis_sawyer's picture

Wait!... I tauht JPM wuz all doze 'EVIL EPISCOPALIANS'... I'm gunna havda fact check here... lol

Sat, 03/02/2013 - 17:24 | 3294061 Pseudo Anonym
Pseudo Anonym's picture

that's just to keep the illusion going.  you know. like the two party political system - rep/dem.  meanwhile, the jew/episcopalians illusion could be just a one lucifer worshiping gang.  one would never know w/ these psychopathic characters

Sat, 03/02/2013 - 18:10 | 3294143 Cathartes Aura
Cathartes Aura's picture

everyone knows exactly what the truly, obscenely "wealthy" worship, and it's not a religion storied for the masses.

layers and layers of lies, aka entertainment distractions. . . watch the other'd hand. . .

Sat, 03/02/2013 - 19:33 | 3294294 Kirk2NCC1701
Kirk2NCC1701's picture

It wouldn't be my choice of words, but if I were Francis_Sawyer, I would not call them "evil Episcopalians" but "Jewscopalians". 

Sat, 03/02/2013 - 18:05 | 3294132 Bear
Bear's picture

There's never an audit anyway ... the Germans got pissed (at no audit) and asked for theirs back ... who's next?

Sun, 03/03/2013 - 02:47 | 3294922 vamoose1
vamoose1's picture

   60    countries   are   up   next ...   right   this   moment   they   are  writing   pink   tickets    for   17    trillion  in  T   Bonds

Sat, 03/02/2013 - 20:14 | 3294402 Andy Lewis
Andy Lewis's picture

Shut yer asshole, asshole.

Sat, 03/02/2013 - 20:52 | 3294481 Schlomo Bergstein
Schlomo Bergstein's picture

Oy vey, somebody call a drone strike on this goy, I mean guy.

Sat, 03/02/2013 - 15:58 | 3293873 Shell Game
Shell Game's picture

"Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed?"
 

Because all tentacles lead to the Squid.

33 Liberty/1 Chase Plaza the Ground Zero that should have been and should be...

Sat, 03/02/2013 - 15:59 | 3293875 Joebloinvestor
Joebloinvestor's picture

You have it wrong.

There are no " hard assets backing the public money ".

It is all FIAT.

 

 

Sat, 03/02/2013 - 16:00 | 3293881 A Lunatic
A Lunatic's picture

So there's a gold vault there. Big deal, since no one can verify that there's anything in it............

Sat, 03/02/2013 - 16:43 | 3293991 Buckaroo Banzai
Buckaroo Banzai's picture

Yes, I'm sure it's just a big coincidence.

Sat, 03/02/2013 - 16:03 | 3293890 FreeMktFisherMN
FreeMktFisherMN's picture

I'm doing a 'for-credit' internship at a prop shop in Chicago so far trading on TT sim crude and silver futures, as well as other CME and nymex/comex commodities/indices futures from time to time, and for this internship program we have a 3 hour seminar each Monday where I have to hear the other intern peers discuss their JPM, GS, Morgan Stanley useful idiot work. 

We had a person from a consulting firm come in a few weeks ago, and then some woman from JPM who works in S &T came in and discussed the usual bread and circus career path/how rewarding it is to work at JPM. There was a time for Q & A, and I wish I'd have asked her some questions about how JPM goes about silver trading. It would have been very OT, as most students were asking bread and circus type, brown-nosing/networking stuff, but I regret not asking to see if she might accidentally divulge what they do. And for that matter should have asked her about POMO and the privilege of getting to have unlimited fiat at zero to leverage up and getting bailed out if it all blows up.

Probably would have tried to marginalize me or else maybe she wasn't high enough on the hierarchy to know Blythe's operations. I remember in a British history class we had to come up with paper topics and I said I was going to write about how perverted and anti-Victorian values of thrift/sobriety/work ethic the Rothschilds were, and I remember the TA just turning red, and sort of under his breath retorting something like 'oh, that gets into those zionist conspiracies'. Wound up writing that paper on Richard Cobden, a guy who would have fit in well with the Austrians as he was anti-imperialist and non-interventionist, and took it to the Tories and repealed rent-seeking Corn Laws. 

 

 

Sat, 03/02/2013 - 16:09 | 3293899 Crimedog
Crimedog's picture

Cool story, bro

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