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Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed's?
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...
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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wish I had been awake and alert as you are in my college years.
She would have narrowed her eyes and smirked at you, writing your name on a slip of paper.
and that would be the story of ya.
I'm probably on certain 'lists' at the University and we all are just in general for being a ZHer. Next time they have some JPM 'networking' event I'm going to go and just ask about its 'hedging' practices in the silver markets, and probably ask directly their response to the 'conspiracies' about JPM naked short selling.
I've also written on discussion threads we have to do for the class about how the U.S. bows to the Israeli lobby, so I'm on another list for that, most likely. Have quoted ZH a couple of times as well, on how the stock market continues to diverge from the real economy among other things. Many of these students have tons of raw knowledge/intellect, but no critical thinking skills, or if they do happen to have them, no conscience.
very astute observation,
"raw knowledge/intellect" being a measurement of how much is meme-orised & tested for meme-ory, given an "IQ" number, most coveted. . .
versus critical thinking that can connect the underground vaults of lies, and from this, deduce some truths.
one is usually handsomely rewarded, and requires no conscience to obey, the other. . . watched carefully.
They don't think more broadly about the implications for the capitalist system that made America so great. It is all about rent-seeking and 'getting mine' even if I have to use force to get it. And by 'force', I do mean using .gov as a surrogate to secure wealth whether it is taxation, bailouts, or inflation. It is just as bad as the thief robbing a bank.
The rule of the day now seems to go along with this quote:
The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests." The Rothschild brothers of London writing to associates in New York, 1863.
And yeah, most don't have any real critical thinking, or they are just cowards and unwilling to re-examine and repudiate what they've been taught their whole life about what is normal and things like 'only government can provide this.' Most are good at regurgitating things profs say as though they are omniscient and they never think about as they are doing the calculations about multipliers and frac-reserve lending as I remember there was in my freshman macro econ class, how repugnant this is to a sound economy built on savings and production.
They never really think about why. They know 'how', and become specialized to rent-seek off of that, but not 'why'. They are distracted by the sometimes difficult math and equations and all these econometric models and whatever, but never really think about the implications and whether any of this applies. For instance, they don't realize that these 'models' STATISTicians use are going to be used to carry out policy and centrally plan. The Austrian school on the other hand respects the individual with its praexological approach
"critical thinking" doesn't pay as well as awarding oneself special status via elite-thinking-clubs, witness the in-crowd in-habiting the lists of the monied class. . .
now this perspective, the need to know the "why" - this is a habit to cultivate going forward (always has been important, but even more so as the fake world is being exposed daily). . . you're on the right path, if you need to know why things are the way they are, and why things are portrayed one way when in fact, they aren't that way at all. . .
always ask why, and always ask for definitions of the words used as explanations - words obfuscate, sometimes intentionally so. . . and don't subscribe fully to any one belief system or "school" - they're all in competition for your patronage - stay neutral as much as you can, extracting the mind from a belief can be hard going.
you're aware though, and that's worth more than you'll ever "earn" in the world.
thanks for the exchange.
Re: "the need to know the "why" <-- That's the mark of a "difficult student." Remarkable that he didn't get ritalined when he was younger.
"meme-orised & tested for meme-ory, given an "IQ" number, most coveted. . ."
Nice. I like the meme meme. A definite ring of truth.
dibs on guns and ammo
You're really not that into your chosen carrer path are you?
J. Dimon
sarc off
Looks like we would need to audit them both simultaneously....switcheroo
A tunnel that connects the two? Makes sense, now if they could just build another tunnel to the harbor and a submarine base they could get that gold out without anyone knowing about it. Tunnel rats indeed.
.
Oh, like the vault under the TTT's that wound up empty just before the vaporization?
No, no! Tell me! I can't figure it out!
So that Byalistock, Corzine and Bloom can rehypothicate the same gold to multiple counterparties? Is that it? Tell me!
I knew it! I knew it! I knew it!
It is all horse shit.
The internet will bring these fuckers down.
Thanks Zero Hedge!
"That's why I'm richer than you." - J. Diamon
At some point, he'll be deader than the rest of us, too. And on that day, verily, there will be much rejoicing by the people.
Amen brother Mc.
And watch him try to buy his way past Saint Peter, with some gold-plated tungsten coins in his pocket.
Next stop, Bee-el-ze-bub!!
There just ARE NO coincidences.
So we now have "Qantum gold" The Heisenberg uncertainty principle applies. If you know the owner of the gold, you don't know its location. If you know the location, you don't know the owner. American gold is unauditable because those bars will be scuttling around under Manhattan and the auditors will see the same bars in each vault they visit.
More like Schroedlingers gold.
Exists in multiple vaults at the same time.
Why not.It was the playbook in the RMBS Ponzi.Sell those Notes as many times as
you can.Current record:42 seperate sales of one Note concurrently.
Who knew tha BANK was spelt FRAUD.
Mr. Spock tells me that it behaves more like Heisenberg's quantum gold: The more you know about its location, the less you know about its quantity. And vice versa. Beyond "God's" knowledge, no mere mortal is able to get past the Gold Uncertainty principle. Kirk out.
Instead of three card monte it is 2 vaults Mario Monti.
one would think that there would be a s/n on each bar and the refiner name. and that would also mean double book keeping at both corporations. possible....
+1 CF, top notch, top totch indeed.
A problem always needs a solution. A gold vault of such a dimension needs also a gold smelter. Not a big thing to install. One needs only enough electricity.
Then the problem is ultimately solved. In case of an audit one has only to melt the needed quantity and fill it in the forms holding the identificational letters and numbers requested by the list of the auditors. Problem solved. This can be repeated as often as needed without harming the gold which is shining as always. Maybe they dip the bars short into an special fluid to hide the fact that the bars were produced just recently. Just like the antique furniture dealers often do to give a wrong impression about the age of an furniture.
The real question is which is a subsidiary of the other? Or does it all go back to the British East India Company?
All roads lead to The City
the jesuit bank in vatican.
Pseudo Anonym has it right [Ratzinger must have downgraded you now that he's on leave]...
~~~
But to the previous... It's LONDON ~ VATICAN CITY ~ & DISTRICT OF COLUMBIA [thus the 3 stars on the latter]... Gold leads to COL [for now ~ things are changing quickly]...
There are three stars on those flags, and four on the ones in Chicago because they wannabe.
3 Questions:
1) When will the fractional reserve paper silver and gold fraud be exposed? Weeks, months or years?
2)How is it likely to be exposed? Comex default? Failure of industrial silver delivery? Another whistleblower?
3)How high will the price of physical go when paper PM's are shown to be worthless?
No way to know what happens and when. I just know that I can't stand the thought of holding USD when $85 billion + (and of course the frac-reserve multiplier/leveraging effect) are being injected into the economy each month.
Gold preserves purchasing power. It's not like crude hasn't been getting crushed lately, too, so that's just one microcosm of how it preserves wealth. And in a SHTF/disintegration scenario, it may be literally just a few moments of 'demand' for dollars a la the Great Depression before they hyperinflate the USD Zimbabwe style. At least if one holds PMs one will always have something recognized as money throughout history. It locks in wealth better than anything and is the only way to not get absolutely hosed.
+1 smart kid...Keep up the good work.
Kito's approach would have worked semi-decently in the Great Depression because at least then the U.S. had the industrial capacity and ultimately production capabilities to back the dollar. But again, gold is gold, and it will hold up priced against other commodities. The dollar is and was always a speculative risk asset that indeed can have major gains and losses to be benefited from theoretically if one is nimble enough (or has inside info) to sell at the top their assets to get into cash and then buy up in times like the Depression when everybody is trying to get into dry powder and liquidate. Gold is a consistent store of wealth, and it does enhance purchasing power, as more goods and services are produced and the supply of gold in comparison hardly goes up. But now the only collateral behind the 'dollar' is basically the imperialist U.S. military and the whole 'if you owe the bank a buck you're...but if you owe them a billion...'
Someone above posted about how just before hyperinflations, there is 'deflation', and I think that is a sound thesis. People eventually repudiate the currency as they are sick of having their wages devalued and in some cases like in Venezuela savings wiped out by 40% or whatever it was. The problem is that unlike other competitive industries, legal tender is monopolized by the government, and so people go along with it for inertia and other things, and don't see alternatives besides holding USD, no matter how much QE or whatever there is. They don't get that saving in terms of PMs is the prudent way to go.
And holding gold is also a vote against the whole system of corruption, too, so that 'intangible' value matters a great deal to me.
Damn Tylers. Hope your life insurance is paid up.
Some advice: if some gentlemen with Russian accents offer to meet you for tea, take a pass.
Fuck you bernanke
Room101....you didn't realize yet that ZH is the Russians?
Don't you guys watch any movies?
They are clearly planning some kind of major heist...
...a la "Die Hard with A Vengeance."
Art imitates life yet again, but the 'heist' seems to be historical. The public is just finally waking up.
Ok, let me repeat this again. And I know I will repeat again until it gets acknowledged.
Q: How do central banks create money?
A: By buying SOMETHING.
So, central banks create money by buying bonds, but they create money by buying........GOLD, also.
Hence, central banks do not need to have money to buy gold, they can simply BUY GOLD OUT OF NOTHING, hence creating money in the process.
Hence, conclusion:
If central banks buy gold, central banks are CONFISCATING GOLD.
Since there is absolute no difference between Government - Fed - Primary Dealers, JPM vault is simply gold confiscated by the government of the United States of America.
Why is this so difficult to understand?
isn't it only a successful true and unassailable confiscation if they corner the physical bullion market? as it looks now they do, but only through JPMorgan's paper tricks, which might fail
It can't fail, since the president can sign an executive order that it can't.
JPM has an infinite supply of money available from the Fed.
FDR confiscated it by using the law. Obama is confiscating it by using the Fed/JPM.
It is this simple.
You see, the only way to control the price of something, is to own most of the supply of that something.
The govs cannot control the price of gold, if they don't own gold.
So, if gold is WITHIN THE WESTERN CENTRAL BANKS SYSTEM, gold is still here. If gold is in China or Russia, there's a problem, but it makes no difference if gold is in Berlin, or NY or London or Toronto or Rome.
What is happening is that, the western central banks are all linked to the Fed and the Fed is simply changing the unit of account day after day, or differently called 'the price of gold'. That's why there's a mess.
If the western central banks did not own that much gold, they wouldn't be able to manipulate the price, which is equal to changing the unit of account.
In my point of view, officially there are about 8k tons of gold in the US + Canada and about 8k tons of gold in Europe + Japan + Australia. Hence, the western civilization has 16k tons of gold.
If this not true, we have a problem. If few thousands of those tons have gone to Russia or China, we have a problem. That's how I see it.
However, manipulating gold means that crude oil and food are manipulated consequently.
Hence, manipulating gold = Food stamps. They should stop manipulating gold.
@ekm
~~~
You are correct with your assumptions... But don't pretend that these are PROPRIETARY ideas of your own...
Many [here] ~ have already figured this out...
We're WAY PAST the point of sleuthing out WHO 'Hans Gruber' is... We just want to be around to see him plunge off the building to his death...
Do not disagree.
But repetition is what matters. That's how it gets into people's brains and into mine.
On that... I DO AGREE... [carry on] ~ & thus I apologize, because the repetition is, in fact, quite necessary... That response was very well stated & defined....
Hmmmm.
I seem to recall numerous articles over the past year on ZH covering the extraordinary amounts of gold being purchased by the Russian and Chinese central banks.
10:1 a BIG chunk of that 16K tons of is now in the hands of the Russians of the Chins.
For me the biggest mystery is exactly how much the major sovereigns truly hold. Since none of them report their real holdings, this will be absolutely key in the last hours of the currency war.
The end of the currency war will promptly give birth to the military war.
Buying on the open market would drive the price up. When you do that, you will attract wealth into PM's and highlight the declining value of unbacked currencies. So my observation is that they only let that happen when the time is right.
Most of the time, the game is to keep wealth in the phony system they have created.
Owning gold is only part of the overall plan which is to extract a tax on all human activity, in perpetuity.
I'm SO glad I'm a JPM customer.
I was. First SLV, then silver bars in NY vault. Not any more. Now it's silver eagles in my phys possession. Guarded by lead.
Most pm"s are stored at the bottom of yonder lake. NEVER go boating with a hedgie.
Uncertain Outlook For Gold Next Week - Kitco News, Mar 1 2013 2:15PM
"It's always a good time to buyer real estate, er, I mean Gold!"
Bullish!
Shorter tunnel.
Thank the good Lord for ZH.
How silly does this shit show get?
Great job Zero Hedge.
It's just so perplexing why banksters would go to so much trouble over a barbaric relic seen only as 'tradition'. /s
well, Old Worlders really love that stuff, while the US had a 40 years prohibition
I'm wondering if they keep their bitcoin wallets down in the same vault...
Mexico to audit its gold holdings at the Bank of England
The Mexican Government Audit Office has issued an official statement, criticizing the Bank of Mexico for not auditing the gold it has supposedly bought and stored at the Bank of England. The auditors ask the Central Bank of Mexico to “make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and compliance with the terms and conditions of dealing with this asset.”http://english.ruvr.ru/2013_02_28/Mexico-to-audit-its-gold-holdings-at-t...
My, my, my. This could get interesting.
And so what's been the BoE response?
Like the Germans?
Go fug yourselves for 7 years as our Yankee brethren told you?
Nope, no peeking!
There's not room.
But that was the Queen, fellas and she owns the Bank, FFS.
There's always room for the Queen.
It's good to be Monarchy
Baygez?.... We don nee no steenkin' baygez... [cue the 'Roberto' PISS ON ME blindfolds]...
it's interesting that gold and other valuables were removed from the vault prior to
Uh huh.
Anybody wanting a real live mystery novel can find more discrepancies and inconsistencies with the info regarding that vault.
Emptied before the fall... photos. And if not, what with Bloomies claim all's recovered whilst still burning hot, underground...
Amounts claimed before and recovered are grossly inconsistent.
How was it found?
No trace of recoveries/losses.
No claims
Guy in charge disappears.
Paper trail of vault access missing.
Amazing.
*waves hands* nothing to see here, move along, move along. . .
Any links Knuks?
Given all the tricks and accounting gimmicks that the US government has undertaken to spend wildly while trying to obscure the real amount of debt, it is not difficult to imagine the selling or trading of any gold held in those vaults.
Just a guess but I would venture to say that the gold US has is the collateral for the loans the Federal Reserve is issuing. Spend wisely amigoes. (fighting israel's/the bank's wars is probably not the thing to do when your country is beyond bankrupt).
i recall chase plaza being in the news with regard to occupy wall street, security, and FOI act revolving around waterproofing the place. When the city replied as to why the info was of national security importance, they said something strange about the distance between 2 buildings...
The plans to repair the plaza's waterproofing contain very sensitive information, the city argues, "including detailed information about the stairwells and precise locations of the support columns for that building," as well as the distance between two buildings located in the complex.
Amazing what you can do with moveable walls.
The "federal reserve" is a private bank. JPM is a private bank. JPM is one of the owners of the "federal reserve" and as such has control and access to its possessions. Why the surprise?
Occupy the Fed/Chase?
what? is this where the hofjuden keep their stash of gold?
.
the mind trick is to realise one is not the nation, the nation is not you/yours. semantics, obscured.
once known, a deeper awareness falls into place.
If zerohedge wanted to engrave its name on the tombstone of history it would reveal the true identities of the people who own the federal reserve and the network of legal entities through which they control it. Everything else is just a cheap tease
the names are known. their permenant address is the issue here..
And will be THE issue for some time ... I hope people realize, it is one thing to have a Vault in a given ( not coincidental location ) and totally different to have considerable mount of God and Silver there.
All this can be cleared with several simple questions:
If you were ( lucky ) to have a considerable amount a physical Gold ( and Silver ), and others KNOW about it, where would you store it?
At home? Think again ...
You would prefer the others to THINK that your gold is in a GIVEN location ( of course ), your home - well fortified, media scrutinized, easily flooded, easily accessed by the law system ( not a small risk here ), close to 15 million people that at some point may not be so willing to consider you a honest person - but it actually is, well, only you know where.
Can the precious metal bars be at your home, sure they can be, but again, IF YOU were to have all that Gold and Silver, and considering ALL the odds, where would YOU store it.
I think, everyone can answer on their own term. I know how I will.
"the names are known. " I can guess a few like Rochefller, Morgan, Dupont, Carnegie, but am uncertain. If you think you actually know let's see your list.
Controlling stock interest in the Fed is owned by the Rothschild clan. And they are highly nomadic.
...And just because we're talking about what's underneath Manhattan...Here are some cool photos of the construction of the new Second Ave Subway tunnel (from 125th Street to Hanover Square):
http://www.dailymail.co.uk/news/article-2271660/The-caverns-Manhattan-St...
What have we learned after all this exhaustive forensic research?
There's a "mutual" gold vault supposedly shared by the Fed and JPM.
We still don't know the contents, how much, who holds legal ownership, or if in fact the vault is empty.
What we do know is even if there is an audit we wouldn't be privvy to the findings and we'd still be drowning in speculation and conspiracy theories.
The reality is that the powerful elitists always win and they determine the winners and losers around the globe, including governments and currencies. Fact-finding is just an exercise in futility and won't ever change unless we abolish banking altogether.
All it takes is enough banks repatriating their gold reserves at once then the fun starts. Shell game or not lack of delivery or putting it off for 7 years when you should just be storing it and have it on hand is all you need to know about HOW TRUSTWORTHY they are. They can play all the games they want. The actions are the answer not the shit spewing out their septic tanks holes they call mouths. That is what makes or breaks your credibility.
I think Jamie Dimon scurries through that same tunnel deep at night too....
that's why he's richer than you
Thanks for filling my mind's eye with scurrying 180lb. suit-clad rats chasing blocks of golden cheese deep under Manhattan...
There's one very, Very,VERY scary scenario where holding or not holding PM won't matter to the retail/private 'person' entity: If TPTB turn each and everyone one of us into walking, taking Bitcoins. Using RFID tech. Whether on a card, smart-phone or implant. Whichever is more 'convenient' at first, until the default become the implant.
Then EVERY transaction of any kind is digitally recorded, traceable and enforceable. Welcome to the self-fulfilled world of 666. Then they can impose fiat rules on gold buys & sells, and tax at will. They can and will come after you and your precious, and no amount of G&A will save you from their 'targeted' and systematic enforcement. So...
Plan accordingly... With a more sophisticated strategy than H&H: Hoarding & hiding. I'd hate to say it, but using offshore enablers like the folks at Internationalman.com and Sovereignman.com might have something to their biz model, offerings and community of expats. It's just a COTS (commercial off-the shelf) solution to geographic asset, risk and solution diversification. No emotion, but only sterile problem-solving skills required.
Of course, let's not lose ALL hope just yet: Some of us can always 'opt out' by becoming refugees in a futuristic dystopia, or moving to a gold-based society in a BRIC+ region.
Leaving the country is the only solution to avoid being tracked.
Seriously, if you think that you will be chipped, DNA-scanned, tattooed & cut off from any food, job, etc., then you CAN NOT hide.
All your farm crops & home can be surveilled from the sky and no land will go uncounted, untaxed.
That means you need tanks, pill boxes and MILLIONS of rounds of ammo to fight back when you are found, OR, you need to take your job skills, gold, silver, fiat credits and LEAVE NOW.
There's no 3rd choice in the preconditions you've listed.
Both of you are forgetting that more and more people are waking up and standing up all the time. Wherever it is you chose to be, that is what counts, not choosing where to go. As long as the people around you have decent values, hold each other accountable, teach and learn, freely - all is well. The US may be the only country that has any history of freedom, and therefore has the best chance of re-learning it.
I'm forgetting nothing. You will need ground-to-air missiles to stop drones from gunning you down, hitting you with nerve gas and salting your land. You're up against air-strikes if you hold out.
If you have a farm then ALL your land will be salted.
If you have guns then ALL living people on the property will be shot using Predator drones.
DO you get it? How can you be in denial of this?
A take-over is a take-over. Figure it out.
The nerve-gas trick is a special one: just say Iran hacked the drones.
If you stay in the USA you will be tracked, chipped, chained, enslaved or executed for resisting. If you had 1,000 AR 15's and 500 people per plot of land and enough ammo to fire for a year...
you wouldn't last 5 minutes. Nerve gas would be used and you'll all fall over vomiting and die.
All of this shit really support the idea that gold backed money is a horrible idea {what we have now is even worse, yes} - gold is too easily controlled and manipulated by large banks and the ultra wealthy.
I think it much more important that money be issued debt free. It can still be 'fiat' so long as the American people, through their government, actually control volume for the national interest... someone on here provided a link to "The Secret of Oz" on youtube which was a very good little documentary, even if you remain convinced that a fiat currency is never a good idea.
Anyway, the American people weren't interested in ending the Fed. They had no interest in even pursuing an audit. MSM regurgitated, largely, Bernanke's lies and incoherent non-answers as if he isn't aware he's reducing the pp of the $. Paul Krugman not only is well-regarded, he can talk about 'death panels' at a synagogue and no one calls him a quack. He can argue that what some people think happened in the past with regard to government deficit stimulus spending, can and should be applied now - he has convinced earnest, intelligent, but easily convinced thousands that small cuts to huge increases are draconian 'austerity'.
Honestly, what hope is there? Congress is absolutely captured {see my last post} by various interests - domestically, you can pick a lobby, in terms of foreign affairs, Israel's 5th column, oil/gas concerns, and Cheneyesque war profiteers are, it truly seems, working closely with a bought media to paint Iran as an existential threat - all for pipelines.
I don't see any green shoots, guys. I see lots of talk in comments on blogs that, basically, almost no one reads, but I don't see anything ending this absurd, corporate/banking/neocon hijacking of our country and its military. I wish the Marines and SFs guys and loyal ghosts were "awake" - but they aren't... not really... people like Alex Jones have them worried about guns, sure, and this 'new world order' - but somehow there's never a big picture.
Well - here's one: http://www.nemw.net/images/jpg/nwo/pnacplanwo7.jpg
Here's another, for a bid of more of a historical bird's eye:
http://ia700307.us.archive.org/17/items/TheIronCurtainOverAmerica/Iron_C...
not if the gold is in your back pocket
Unless the government forces you to turn it over, or bans its private sale. It might still have some value if/when that happens, but I'd argue that its not going to be in the banks interest to let people out of 'their' money system so easily.
I think buying gold is a good idea for the moment, but I'd be wary of holding a lot to the extent the gov knows or could find out you are. But maybe I'm just paranoid, eh? Maybe all of this gold buying by central banks is to help get unemployment down...
As far as the Feds are concerned, cannabis is still illegal in all 50 states since 1933.
How's that working out for them so far?
It's by far the largest cash crop in America worth billions. Add in the billions flowing into Mexico from weed and we're talking some serious coin.
The people will use what they will and the Feds can't really do a damn thing about it. They will try...but the numbers insure that they will fail.
Same as the Volstead Act with liquor.
The best they can do is to try to cut themselves in by taxation.
The business model for "illegal" dugs is very simple. Its so simple that people can not see it.
Step one: Force widely used and cheap substances such as opia, hemp, coca etc. etc into illegality. Over time people will forget that these substances were serving well for mankind since thousands of years as effective pharmaceuticals. Replace these substances with substitutes which can be produced very cheap (synthetic versus organic). Brainwash people that these substitutes are better and less dangerous to your health - which is not true in most cases. Take the full profit by eliminating farmers and home grown competition and fill the jails with "illegal" drug dealers and consumers to protect the monopol.
Step two: Control these extreme profitable and stable markets for drugs completely. The ranking in importance for each and everybody: Food, clothing, housing and then come the drugs already. Take full advantage of the business opportunities created by the "illegalization" of this for mankind very important sector.
a) charge high prices for cheap produced synthetic substitutes sold "legally" through pharmacies etc.
b) control the illegal market (drugs made from organic materials) Move production of opia, hemp etc to places were labor is cheap and where land and climate produces high yields. Create or mantain warlike societies in the production countries. Hold the price high in the consumer countries. Move the illegal billions of profits made back into the legal system by controlling the banking system. Tighten control over the banking system worldwide (and introduce draconic punishments) so that money landering can only be done by the masters of the system.
And what is the result: A steady money stream is flowing from the masses of the population into the pockets of the feudal masters of drugs. Drugs are are a basic need of mankind, in my opinion only food, clothing and housing is of higher importance for mankind.
And this market is controlled by an oligopol of families while the governments provide the necessary framework. The enormous profits make it easy for the lobbyists to continue to take influence on politicians.
+1 - there is more: at the interface between the oligopolic families and governments often you have secret services of those governments skimming a protection fee like the gangsters of old using those profit for their purposes
practically all big secret services have illegal money-making operations on the side anyway to increase their budgets and they are good at lobbying their lawmakers to keep it so
illegal good money and illegal good drugs are still this:
good drugs, good money and in trade.
Fuck what the government says is banned.
When the government becomes illegal, the illegal economy saves it.
Vespasian: Interesting map. Very cool. Along those lines, I read Engdahl's "A Century of War: Anglo-American Oil Politics and the New World Order" which makes a lot of sense. It certainly explained a lot of the 20th century, that's for sure.
re:
"Here's another, for a bid of more of a historical bird's eye:"
http://ia700307.us.archive.org/17/items/TheIronCurtainOverAmerica/Iron_C...
Great link! Thanks, bookmarked. Chapter II of that velly interesting...
Michael Caine is reading this article.
Jim Willie said that when slick Willy was in office, he and Rubin stole the gold from Ft. Knox and gave it to their friends on Wall Street. Hmmmmmm.
a chapter is not the whole story.
Why?
The preponderance wayward airplanes and the attendant building collapse.
I suppose some enterprising thiefs could hijack one of the Tunnel Boring Machiens at work in NYC. Die Hard 6? Die Hard - This Time We're Golden
J.P. Morgan Chase is the government.
The FED is their lackey.
We are their slaves.
It will be curious to see who will emerge as a new Spartacus.
I am Spartacus.
We the People create the world we live in with every choice we make.
Everything good in life requires free will.
Live long and prosper.
The FED is JP Morgans 100 yr old Frankenstein...
J.P. was Dr. Frankenstein
Is it a coincidence that the Nassau Street subway passes right next to the Federal Reserve and Chase Banks? The Nassau Street subway was begun in 1913 and finished in 1920 ... just about the same time the Fed was getting established.
Miss Expectations linked a subway creation story above, and a caption on one of the pictures made me smile,
necessity, the mother of invention, eh.
Those pictures were taken miles away. A reference to the Nassau line: http://en.wikipedia.org/wiki/BMT_Nassau_Street_Line.
Curiously, there's a direct line to the World Trade Center site. It was known that there was lots of gold stashed there: http://911review.com/motive/gold.html. That should excite conspiratorialists.
aye, was merely pointing to the how the idea to dig tunnels connecting various areas underground in NY was given a rather popular timeframe.
of course, prior european histories include catacombs in Paris, Rome, etc. - religiously maintained. . .
Ah so. At least the underground web in Paris and Rome was dry. Not so for London and NY. Lots of pumping needed. Anyone know if the Nassau line flooded during Sandy?
Yes, I know. But I'm not telling.
Now all we need to do is get them all down there at once so we can fill it with water.
Dear Tylers:
This is truly awesome detective work. Congratulations on this outstanding article.
-30-
moon in scorpio, just crossed a retrograde saturn. . . the truths will out, hmm.
I always enjoy your posts & perspectives. I also find it fascinating that on more than 1 occasion you've posted on astrology. It's something that I looked upon as pure folly until last Thanksgiving. In chatting with a friend's mother in the last thro's of cancer (just met), what she imparted to me, about me was incredible.
So wait, when Scotia Mocatta's vault was destroyed how were they reimbursed? Did they get oz for oz lost? or did they get $value per oz lost?
In the days after 9/11, the TV news coverage was constant for a good while.
I remember watching a line of armoured trucks coming up a purpose built ramp with what was supposedly the silver recovered from a vault deep under the collapsed buildings.
It seemed to be a real thing at the time, but as we all know now, things are not always what they seem in spite of/ because of being on MSM television.
None the less, if claims are now being made about lost PM's, I wonder just what it was the trucks were carrying.
It would be interesting to get hold of all the archived news tapes to watch again with today's eyes.
Problem was and is, the "recoveries" were made when there supposedly was the rubble of the two towers compressed flatter than Boy George's titties, still flaming hot enough to melt the shit, after pictures of empty vaults, the amounts said to have been recovered were not the same as supposedly warehoused, the guy running the vaults disappeared as did the access records for several days before the catastrophe....
But yes, I agree....
I'm just mumbling and muttering meaningless shit.
All. Another. Fucking. Coincidence.
The trucks were carrying evidence from wtc7 to be used in blackmailing for future control frauds from supposedly lost case files after the building was ordered "pulled" by sir larry silversteiner.
The hunt is 'on' bitchez. The hunt for real assets, and real gold and silver. The usual suspects already said goodbye to paper derivatives. Call it smart money or Exter's pyramid, the hunt is ON. And the smart farmers are IN.
No big surprise I guess. JPM is one of the owners of the fed. Lets not forget that the fed is a private company owned by the TBTF banks. They're taking care of OUR GOLD don't you know?
Hope they're doing a better job with OUR GOLD than they did with OPM. Anyone remember subprime, all the ninja loans, securitization, etc. TBTF didn't do a very good job of taking care of OPM ---- maybe with OPG
'
''
'
2 years ago, I walked in and bought what I thought was a paltry amount of Gold and Silver at Scotia Mocatto. (I could carry it out in a knapsack. I'm 225lbs.)
What surprised me, was I bought the LAST G&S avaiable, on hand, at the bank.
AYFK'ing?
Liddle ol' me, just emptied Scotia Mocatto?
It's a good thing they're in the G&S business and not the business of bread making or something like that, because their inventory capabilities really do leave something to be desired, eh?
Or maybe, they just don't have that much on hand…
•J•
V-V
When sequestration sets in, one mr. Dimon is gonna lose his job. After all, he IS a government employee.
Maybe the better question is, how many people own the same gold they have a claim to?
And like everything else of real importance in the financial industry, it’s a secret.
Perhaps it's a case of co-habitation to aid and abet re-hypothecation.
Jimmy Stewart will appear and tell us it's in the bridges and streets we came there from and on.
At the end of the day, at least, we the "little people" know where the gold is kept!
So if we, "All go for it" that could work!
Can someone please upload or post a link to maps of tunnels in the area? Thanks in advance.
Just like JP Morgan's London vault is connected to the Bank of England's vault via the Waterloo & City line.
http://www.zerohedge.com/news/2013-02-16/where-secret-jp-morgan-london-g...
http://en.wikipedia.org/wiki/Waterloo_%26_City_line
Round and round the merry go goes where it stops nobody knows .....
Feeling a bit queasy after that little read.
Jigsaw puzzle coming along nicely
Thanks ZH
"Well, I need some extra money to get the garage painted; I'll take one gold bar, nobody will ever notice."
"Hey, that was easy!"
Go to Step 1, repeat.................
Masons,Communists & Jews(in no particular order).Seems like there's a lot of folks on this site with conspiracy theories that are directed at all three.Pitiful at best.
Don't forget the child buggering Alien Luciferians.
They hate being left out.
Shovelhead,
Thank you for your beautifully direct replies. Perspective is a rarely shared gift.
;)
Hey, I like trusting and good-hearted souls like you -- always thinking and believing the best in people. Especially in the rich & powerful people with means and resources.
Say, I have some great rental property I can sell you near downtown Detroit. A mere $35k per house. All brick, with full basement and tenants. The net cashflow will let you lease a nice new Benz, with cash to spare. And think of the appreciation of the property. Call.
Cause that’s where the money is.
These aren't the klingons you're looking for.
You funny Dr. Jones!
In the hot mess, they call it the old reach-around I'm told by someone who knows and worked in the 5th sub-basement in '61
No doubt just another of a series of coincidences. No CSI: no opportunism by people with Motive, Means or Opportunity here. Nothing to see here, move along now. /sarc
Ok where's the petition this time. The last one I signed got us some photos of plated tungsten and a not to worry note. If the banksters are moving my citizen ownership percentage of the gold then I need to know.