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JPMorgan's Eligible Gold Plummets 65% In 24 Hours To All Time Low
We are confident that in the aftermath of our article from last night "Just What Is Going On With The Gold In JPMorgan's Vault?" in which we showed the absolute devastation of "eligible" (aka commercial) gold warehoused in JPM's vault just over the Manhattan bedrock at 1 Chase Manhattan Place (and also in the entire Comex vault network in the past month), we were not the only ones checking every five minutes for the Comex gold depository update for April 25. Moments ago we finally got it, and it's a doozy. Because in just the past 24 hours, from April 24 to April 25, according to the Comex, JPM's eligible gold plunged from 402.4K ounces to just 141.6K ounces, a drop of 65% in 24 hours,and the lowest amount of eligible gold held at the vault on record, since its reopening in October 2010!
Everyone has seen what a run on the bank looks like. Below is perhaps the best chart of what a "run on the vault" is.
The absolute collapse in JPM's eligible gold inventory, means total Comex eligible gold has fallen to just 5.8 million ounces, half of what it was in early 2011, and back to levels last seen in March 2009.
So, once again, just like last night, we ask the same questions which are even more critical today than they were 24 hours ago:
- What happened to the commercial gold vaulted with JPM, and what was the reason for the historic drawdown?
- Gold, unlike fiat, is not created out of thin air, nor can it be shred or deleted. Where did the gold leaving the JPM warehouse end up (especially since registered JPM and total Comex gold has been relatively flat over the same period)?
- Did any of this gold make its way across the street, and end up at the vault of the building located at 33 Liberty street?
- What happens if and/or when the JPM vault is empty of commercial gold, and JPM receives a delivery notice?
Incidentally, JPM now has just under a paltry 5 tons of eligible gold left in storage. We hope this is also the maximum exposure it faces for imminent delivery requests, because if tomorrow it receives withdrawal requests for 141,581.5 ounces +1, then things get really interesting.
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I don't think he is a treehugger. More likely some dissembling Jew.
Actually, in their press release on this very same subject, they had explained the vault was being re-painted and the gold moved temporarily to a self-storage unit in Flushing....
Squeeze
Default about to happen. Dimon running up and down the CMP - FED TuNnEL... Pissing pants....
Gallows beckons...
That is not that much considering that Merrill Lynch sold how many millions of ounces two weeks ago?
New York Whale filled with Gold
...or maybe Frau Merkel doesn't want to wait 7 years to effectuate 'Plan B'
A co-worker's brother-in-law is a financial risk management professional and is stocking non-perishable food like crazy, and he is advising his family and friends to do the same. He consults for most of the big financial institutions. That is as reliable a warning as they come.
http://www.cnbc.com/id/100672709
Warning! Stocks to Crash, Gold to Top $10,000: Albert Edwards
Do you smell that?...Yes that...is it...is it?...Why yes, yes it is, that's the smell of CHAOS.
Easy Burl, take it easy.
Hope they go under!
Thy need another MF Global...to get some freebies...
Fuck JPMorgan!
Time For A Market "Event"...??? I'm gonna wear my "GOT VIX" t-shirt to dinner
Wow wtf.
FULL MOON, Bitchez...!!
"FULL MOON, Bitchez...!!"
Loooooooong slow squeaking sound...as the window of optimal attack opportunities opens....the moon up she rises...everything else crashes.
Just checked the Perth Mint bullion sales page. They are out of stock on kilo bars and five more lines out of the other Thirteen sizes as well.
Syria better lend their gold to Russia for saferer keeping...
http://en.wikipedia.org/wiki/Gold_reserve
http://dealbook.nytimes.com/2013/04/05/behind-the-scenes-jpmorgan-works-to-sway-shareholders-on-dimon-vote/
http://www.tmorra.com/item/2150871
AS A REMINDER:
JPM shareholder meeting is on May 21st.
There are two warring factions inside JPM, for and against Dimon.
This gold thing is either people calling margin (50% probability) or a coup-d'etat in progress against Dimon (50% probability)
<---JPM shareholder meeting goes on as planned on May 21st.
<---The morgue no longer exists May 21st.
What will happen to my Chase credit card, just in case?
Depens on whether it's a gold card...
It'll turn into a Goldman card... Your interest rate will double, & payment due date will be moved to yesterday [whereby you'll be assessed a late charge fee]...
I believe that Peter Schiff has a bank that has a credit card that's backed by your gold.
Don't know what the bank does with it... if they leverage gold at some ratio.
Now maybe 'Lil Kim can hit that "launch" button...
Oh Dear!
Oh Oh, I figured it out, he's gonna make a boat out of gold, talk about a boating accident!!!
Wouldnt surprise me if JPM was distributing the phyzz to themselves and their butt buddies, to leave their clients, since they are such awesome custodians, and their clients, holding the asswiped toilet paper...
I wonder what Blythe has to say these days?
Does this not place the Fed in a QE box based on the demand for gold. Can Bernanke afford to continue with more QE creating even more demand for gold? If he decides to stop printing the price of gold could fall dramatically and save the house of morgan. What will the chairsatan do next?
Let the "price" of gold reach market equilibrium. What that really means is: let the USD find its true value.
I wonder how much of this gold is going to fulfill the German request for their gold. Has to be related to someones central bank request. That is a rather sizable change in inventory.
Didn't they get any of the short positions back during the recent drop?
From Harvey Organ:
“The following is very scary!!!
Thus the dealer inventory rests tonight at 2.174 million oz (67.6) tonnes of gold.
The total of all gold declines again at the comex and this time breaking below 8 million oz as it rests at 7.990 million oz or 248.5 tonnes.
I cannot recall seeing the registered or dealer inventory in gold this low.
The comex is slowly losing all of its gold.”
Fuck The Morgue!
Am I the only one thinking that maybe JPM is somehow (who knows how) not on the "screwed" side of the trade?
Sinclair has said many times over the years: gold will really take of when the ones you think are its enemies are loaded up. JPM has maintained (Blythe) that the big silver short is for a client. It has been suggested that the short is China, I suppose accumulating physical like crazy. So we'll see who's nekkid soon perhaps. But if Comex defaults, there's no right side of that for Comex. If a custodian doesn't have what they are obligated to have, there's no right side of that either (unless of course we're talking about GLD and SLV with their built in "we didn't feel like it" clause).
Today's software glich was maybe a hard asset glich? Gold moves up $40 today. Someone knows.
I guess we'll see soon enough. Maybe someone can start a pool to pick the date of the first 10%+/- move from here.
If you mean the first 10% move in a year, then I pick this year...
I had a misread... and thought the heading said 'edible' gold...
Well they do splash out on that gold leaf in food at banquets to impress.....
{sometime later} Man, Oh man . . . Dat be sum expensive shit !
Tyler, it's in the GS vaults now. It's all good. /s
Who just doesn't love this good heart?
"This is not conspiracy!"
http://marcfabersblog.blogspot.ca/
Good interview.
The female CNBC talking head was not happy with Faber's remark about women with 5 children from different fathers having the same vote compared to a productive person without entitlements...
He will be banned from CNBC soon.
Let's get physical and make the JP a morgue
The JPMorganChase vault was emptied out months ago, a fact JPMorganChase is only acknowledging now. JPMorganChase sold off most of its physical gold supply to China. Meanwhile, did anyone see Mayor Bloomberg on TV, gloating about the Boston bombers supposed plans to attack New York? The lowlives did not have enough money on them to buy gas for their stolen car, yet Bloomberg accepts as fact a supposed statement from the bomber that NYC was their next target. Bloomberg is some scum to try to profit politically from Boston bombing using a bogus comment from the surviving bomber.
There are no bogus comments coming from the bomber. There are NO comments coming from the bomber. He is either 1) dead, or 2) entering the witness protection program. The bogus comment is coming Bloomberg.
These are the droids you're looking for.
Fraud....It does a body good......
They dropped gold thinking investors would sell, and instead they were met with unprecented buying and vault emptying. Now they think they can raise PM prices to slow sales -- but what if we now start seeing even MOAR buying as momentum buyers come back and all selling stops?
i thought the game plan was to time the complete implosion of the comex for August when everyone of importance would be on vacation, and the impact would be muted.
guess i was wrong.
while everyone is salivating at the thought...i am wondering, what happens next?
Sorry for my ignorance. Just to clarify, is this customer's gold JPM is storing and the owners are taking physical delivery? If so, is this gold that JPM was lending out to short sellers like a stock security lending program?
My knowledge of the PM markets is limited to buying physical online, so even a link to where I can learn what this is would help. Thanks.
1. Yes. 2. To short gold the rule would be to simply locate it. How many times do they locate the same gold bar is the question?
The question is what is closer, 24 feet, or 2400 miles? And the answer is the latter in real gold, which makes the former in paper gold.
This is from Kitco's site:
Lease Rates
The lease rate is the cost of borrowing gold. In much the same way that individuals borrow dollars, pay an interest charge, and then return dollars to the lendor, gold bullion participants will borrow ozs of gold, pay a borrowing cost, and return the ozs of gold to the lendor. The debt is measured in terms of ozs as opposed to dollars. The value of the metal when it is being borrowed or returned is not a factor. The central banks are the main lendors of gold and the borrowers are the larger industry participants. The lending and borrowing of gold is pretty much reserved for bullion bankers, mining companies, and jewelry manufacturers. You can ask your bank manager to lend you 10 ozs of gold, but you would almost certainly draw a confused look on his face.
There are two factors that determine the going lease rate which is determined by market forces alone. One is the difference in demand between gold for immediate physical delivery ( spot ) and gold contracts for later delivery ( futures ) . The other being the current interest rates for borrowing $US dollars.
High lease rates will encourage stockpilers of the metal to sell into the spot market even when they wish to maintain their inventory levels. Being guaranteed to buy the same metals back for a lower cost at a future date offers them every possible financial advantage. For this reason exceptionally high lease rates cause the demand for immediate delivery to be satisfied, and therefore never last too long.
and here's current lease rates:
Gold Lease Rates April 25, 2013 1 m 0.0132%+0.0017
2 m -0.1967%0.0000
3 m 0.0606%0.0000
6 m 0.1821%+0.0024
1 y 0.4177%-0.0043
You have to remember the big picture though: Central banks "lease" their gold to bullion banks who sell it in the market. There's a real problem for the bullion banks, who owe the gold to the central banks if they can't get the gold back. The whole gold "lease" thing is a fucking fraud, imho. Anyway, the bullion banks have to produce the gold when the lease term is up, unless I suppose the central bank "rolls" the lease.
How about you lease me your car, I sell it, and sometime in the future I go buy one back to return to you. Is that a "lease?"
The purpose of it was to have a "non-sale sale," so the central bank could still show the gold a reserve asset. Only it isn't gold anymore, it's bullion bank debt.
That's part of the picture. Maybe a more important part it is the extreme leverage in the paper markets begin busted by demands for delivery. There's not much the central banks can do to relieve that pressure but "lease" more gold. However if their gold is gone, or if they don't dare to lease more, where will the shorts get the gold to deliver? The warehouse stockpiles draw down and aren't replenished.
Any corrections or clarifications from those more in the know are most welcome.
Thanks. I have never understood the leasing gold bulls*** that the central banks do either. They deserve for everyone to take delivery. For that matter, too, we should all just take our money out of the bank as well. It is becoming increasingly clear that it isn't safe there and doesn't earn interest, so why bother. I know, they will print more or make it worthless anyway, but I enjoy seeing Bernanke shake and look like he's shitt*** his pants.
Cars aren't fungible.
Anyway, it's no different than depositing cash in a bank, it happens to be gold. The central bank makes a percent or so on their gold (though I have no idea why they would give a fuck) and someone gets to make use of the gold.
Same deal on getting the money back. If the bank defaults, you're just another creditor.
Yeah, well that makes you an investor in the bank. And the gold "lease" is sale. How the hell can you be a lessee when you have transferred title of the "leased" property, ie. sold it. It's absurd on the face of it. Pure sleazeball central bank fraudulent bullshit. It is no longer a gold reserve once "leased:" it is an investment in bullion bank paper.
+10!
It's like they sell the fizz to keep up fiat strength, then are still able to show the gold as an asset on their books.
Sooner or later, the jig is up.
"On a long enough timeline, everyone gets Corzined."
Eligible? Eligible for what? A gold EBT card?
I always love a Tyler's sense of humor. Can 'ya dig it? It's always that plus one (+1) that will always kill 'ya.Would somebody with a lot of money(like a Central Bank)please step up and buy that gold tomorrow with cheap fiat currency?
"TEAR DOWN THAT WALL!!!"
If the inventories need some augmentation, just lie...we can try to hold the fort for a while against the natives; thennits every man for himself old bean...
Let's not celebrate too early. Never underestimate the devil's armoury. Let's just take courage that he is cornered.
The fools went for overkill when they killed the price of gold. Had they dropped the price by $30-$50 they may have had more success. By dropping it the way they did it was like bluffing with a dud poker hand that your opponent can see.
Since they jack so many markets around, it's not surprising they have no respect for market forces. Demand curve: price down, demand up. Doesn't matter if you can infinitely create supply (as from stockpiles) but when that capacity hits the wall . . . . the rubber hits the road.
Perhaps JPM has figured out there is a 100-foot deep olympic pool size deposit of gold under the arctic circle and the stuff won't be worth the cost to carry it, so they're just cleaning out their inventory.
Like those russian meterite diamonds that I dun heard about.
They just give all the "connected" people a chance to get their gold...First
SLV up 4.77% today.
With all the increasing demand for physical, who's buying that much new paper silver today?
Mmm. Somehow I don't think they're sweating too much. They'll just borrow gold from somewhere else. May have to pay a bit for it, but that'll just hit profits a bit.
JP's crackin'
Keep on stackin'
Mocatta stopped selling in Toronto this week. They ran out of physical and said they were going to receive only on May 6th at the earliest.
It's a circle jerk. JPM is just sending out that Gold to other people so they can post margin. Maybe like a rehypothecation of physical Gold to quell margin calls. This loaned/rehypothecated Gold was then liquidated in the market to raise cash to satisfy some sort of obligation. Who knows, but its much deeper than just a simple "low inventory" idea
stay out of the hottub for a couple weeks tyler
If I was a guy like Schiff, Sprott or some of these other bullion dealers in the physical market, I'd be hedging against the executive order calling for confiscation next to cover those paper shorts. The sociopaths won't give up control without destroying as much as they can in process to hold onto power.
So they settle in fiat - but the spooking of the market is what is spooking me
This doesn't necessarily seem bullish to me. As the price of gold went up, the amount of eligible Comex gold went up (drastically). Now the amount of Comex gold is decreasing. Could this mean longs are liquidating their positions?
Pud,
you are of course right in your asessment of the absurdity of digging gold out of the ground to then just hiding it in a vault or hole in the ground. It is also true that often there is environmental degradation that goes along with the process of extraction and great hardship and danger to those who mine it. Yet this is not golds fault but the fault( like in so many other dealings with nature and others in general), lies with the people who in their greed only want the results totally ignoring the means and possible consequences.
In a perfect world ( and I assume you are fairly young and still very idealistic ) none of that would happen and we wouldnt need gold to keep in check greedy people that want to swindel the wealth of the producers away from them with paper promises.
Gold in India for example is considered to be a holy metal exactly because there wise people have thought the issue to its end and have concluded that in this imperfect world gold is the perfect store of value and along with silver makes the perfect medium of exchange.
I have a feeling the price takedown was intimately connected to the absence of available gold for Germany.
And CFTC Gensler is still in the back stall fluffing his duff. Now THAT is the only manipulation HE is interested in!
Conveniently timed to blow-out on a Friday - something definitely amiss.
The lack of any calming PR statement prior to running out is suspicious...
Friday afternoon news dump should be interesting ...
JP Morgan default <ANAGRAM> Major daft plunge.
Think why JPM would want to hold the minimum amount of gold possible?
The single rational reason is that price crash #2 is coming. Bitchez.
Sell paper, BTFD on physical.
I think we need to start a new form of protest ZH style. Everyone here needs to take sharpie marker and write on ever single dollar bill they have fuck you Bernanke, gold is money bitchez that they use to spend at the store or on whatever. Flood the system with bills letting them know how you feel also forces the matrix to wonder wtf is going on when the bills hit their hands to spend.
Not even just fuck you Bernanke but things like fuck you Obama, fuck you JPM, don't hold back.
A much bigger story, unreported here?
http://bullmarketthinking.com/comex-physical-drain-accelerates-with-over-7-8b-disappearing-from-all-depositories/
Write "O-bama" with a swastika inside the O.
A hammer and sickle works, too.
Pass them at Starbucks and act innocent.
Whatever artistic style you choose just make it known the people ain't happy. Think of it as stress relief, a lot of people could use the bleeder value right about now.
Think of it as a race to deface vs. the race to debase.
Funny, I wanted to write "F U Bernanke" on the bullion receipt that my dealer fills out for audit purposes for filing but he wouldn't let me. LOL
TPTB must be nervous everyone bought that dip. Peeps want their money back.
LolollologhHGAGHGALOLOololoOOl
I wonder if Jamie brought his emergency underwear to work today. No doubt he would've had a blowout at some point. Massive soilage I'd reckon.
Get that fresh paper dump price up ya lololGHgHAhaLolLol greasy prick
No one (sovereigns especially) want to get Corzined on their gold
Bill! I didn't say we HAD that much gold...I said I WISH we had that much gold....
It's starting to look like the whole smackdown in gold and silver was a feined attempt to get investors to surrender their physical to the banksters. If that's true, then the right question now is once again, Do they have a plan B, or is it plan D for default?
Y U No Sell Guy?!!
I can't say that I'm not a teensy bit worried about the concurrent events that Clif High has been talking about for years. Its lunacy, but that Friday/Monday PM takedown certainly got my attention.
If I had kids, I'd go home and hug them.
There is always a possibility that after plan B there can be plan C(onfiscation) in the West.
We can nickel and dime them to death if we play our cards right.
Fuck You JPM.
Death by a thousand nickel and dime cuts.
Yup... That is what stacking a little here and a little there does... Kinda like opening the shade a little at a time until the room is finally saturated with light...
JPM has been the "Banker" of choice for the Fed for almost 100 years, executing the Fed's wishes in the open markets when needed. As much as I despise the sperm burping SOB's at JPM, I just have a hard time believing that they are going to come out in the wrong side of this "situation", if you can call it that. Yes, they have been manipulating the markets for a long time, and especially the silver market since Lehman went belly up. During those years pulling the strings you learn a few things on how to rig the markets to your benefit in every kind of environment. I do truly hope I am wrong and greed got the best of them. I long to see those bastards start swan diving from the window ledges of their glass castle as their beloved empire crumbles. Blythe, I'll let Jamie race you to the concrete, first one to splatter and decorate the sidewalk with their brains wins !
The last card to avoid default I can see is that the Oreo after the market closes on Friday has a press conference announcing an emergency executive order (I don't know if it is even legal but doesn't seem to stop this guy) to confiscate as much physical as possible from the bullion dealers to cover the outstanding shares JPM needs to deal with right away and at the same time the Comex goes on the equivalent of a bank holiday until enough physical is hoovered. It will probably fail since too much gold has moved from the US by occident to cover anyways.
Risk on brutal style, ECB buying up physical gold (1million+), Fed devaluing the USD like mad via swap lines into the EUR (1billlion week or so back). Even if temporary it's to force USD/DXY longs to liquidate and pile back into equities and gold. Don't worry gold-bugs the Fed's got your back, the 1400 (gold) support like the 1.30 EUR support is underwritten by two central banks ECB and The Fed. As long as Japan fuels their pension funds to buy o/s equities. This rally will continue.
Until Nemesis throws us another reminder to arrogance. Which would be an Asian war, yes Japan and China have a little skirmish. Which will blow the UST trade to hell, taking out Japan Bonds and China bonds, killing equities off.
Till then...
It's a beautiful world.
Why would JP Morgan need a perfect refelctor of IR radiation? It is useless to them. They might as well sell it.
Remember, low Crimex deliverables is a real problem for The Great Eye. Expect real "social" problems to be created on cue. Police checkpoints, more false flag attacks against Americans by our (illegitimate) government, wars and the rumors of wars.
...and if the wars and false flags don't work on public opinion (they are not so far) then look for yet another long beatdown in paper gold.
141 FUCKING OUNCES??? FUCK!!! I HAVE 141 FUCKING OUNCES OF FUCKING GOLD!!!!
141 OUNCES IS LIKE- LESS THAN 12 FUCKING POUNDS!!!
THAT'S NOT EVEN A WHOLE FUCKING BAR!!!!
I'LL CUNT-PUNT THE BASTARD THAT DID THIS!!!
YOU'LL NEVER GO TO ANOTHER SIGMA NU MIXER AGAIN YOU FUCKERS!!!!
FUUUUUUUUUUCK!
relax there pardner.... 141K ounces... not 141 ounces... in any case, it's something beautiful to rejoice... not sure why you angry
Ahh... I remember MY first beer.
My "Up arrow" voting thingy isn't working or you would have a whole 4 up votes by now!!!...
I was just looking at a 10 year chart. The pattern from late 2011 to now looks eerily similar to the take down of 2008 to 2009. Basically similar % moves down although a little longer. Resistance was 1000 in 2008. When it broke, gold moved fairly steadily to 1900. That looks like a 100 point overshoot, since resistance looks to be 1800. If it has the same % upshoot this time then breaking 1800 might take us steadily to 3200.
If it gets above 1800 then it's, Katy bar the door. Or should I say, Benny bar the vault?
08/09 was the US collapse, 10-13 and onwards ... is Europe.
There is going to be confiscation if this is what I suspect ...
and when the government becomes the thief?
Please clarify "confiscation".
A) By confiscation, are you saying that the US government will not honour their agreements with other countries on the storage of that countries gold and will NOT return it to them when asked.
B) US government will confiscate gold of private holders and the little guys (us).
C) Introduce a gold tax on all sales and purchases by private individuals.
D) A and B
C then B if C doesnt bring in enough revenue.
A is a last resort.
Surely option B would push physical gold underground ? (no pun intended )
I wonder what the price of black market gold would be?
I agree with some ZHr's here,the big picture has to be taken into account. Cyprus being shafted sets a new standard (and their Banks' problem was they were arm-twisted into buying the Greek bonds ,which are toast. This is counterparty contagion!!).
Good question here: who had the CDS bet on the Cyprus Banks? C'mon fellas,hold up your hand....
The real thing they are scared about is Spain and Italy. The question is how far can you kick the can before civil war breaks out. The Italians have got long memories (and grievances against some countries beginning with the letter "G").All this nonsense about Bunga parties and teenage moroccan hookers won't be so funny when the ATM's stop working and the foodshops are empty.
It wasn't only the Banks that were hypothecating.People worldwide are living paycheck to paycheck. I would also point out that the Western intelligence establishment has piled tons of money into Italy since WW2 to keep the country from going left-wing. Purchasing mass-media outlets,molding opinion,bribing politicians,etc. All this hard work is now at risk because of the common currency and the risk of imminent default (sarc).
4. What happens if and/or when the JPM vault is empty of commercial gold, and JPM receives a delivery notice?
The same thing that happens when all fraud is uncovered. Nothing. Line up the lawyers. Make no comment. Wait for the government to cover their ass and bail them out. I see a new confiscation on the horizon to feed the beast.
I've already buried mine underneath the massive cement graves not far from a fema camp. That's the last place they'd think to look and nobody is going to guard it.
I figure if I can't ever get to it the only people digging them up will be victorious patriots and they can have it.
http://www.youtube.com/watch?v=mFqwS5tVdSU
For the past 12 months, per Executive Order 13603, Obama has given himself authority to seize any and all resources, including labor, if necessary for our ongoing permanent "state of war" with CIA/Al-Qaeda per AUMF.
Also note that almost every federal law can be waived on presidential declaration of a waiver for national security reasons.
http://www.gpo.gov/fdsys/pkg/FR-2012-03-22/pdf/2012-7019.pdf
http://www.forbes.com/sites/jimpowell/2012/04/29/obamas-plan-to-seize-control-of-our-economy-and-our-lives/
Every POTUS gets something similar penned.
If I recall correctly, the US has been in a state of declared emergency SINCE 9/11. And, really WTF does it matter? TPTB are gunning people down without trial, anyone think that if they weren't signing shit like this that they wouldn't do it?
Not sure if your comment merits raising the flag on it being a party pussy remark or not... if I really squint I can smell it, but sometimes one's imagination just kind of takes over.
How long until States begin declaring independence from the Federal government?
The next high will break $2,100 my financial advisor says....The last high I think was about $1,950 so he is probably correct...again. With all that Casola in USDs flooding the globe, he's prob not far off.....the Demand is astonishing.
My Life advisor, me, tells me to buy farm land, stay away from bodies of water, not to take wooden nickels, and, to not worry over the things that I have no control over (such as the "price" of gold).
The jig is up, soon. Crimex will change its rules rather than openly default formally. Pay demands for delivery with cash instead of gold? Or some other paper promise?
JP Morgue is doing what it always does: feeding the hidden hand that owns it, and running off with as much as it can before the looting is known publically... sort of like its treatement of MF Global.
Why isn't politically connected Rothschild operator Corzine in jail? Rhetorical question.
Buy physical gold, silver, land. Stay close to family and genuine community, imo.
PS
GATA have been right all along.
Wow, for the first time I can say that at no time reading this post did my red-arrow finger get twitchy! I concur 100%!
JP is turning over in his vault.
All your gold are belong to us.
Their worst nightmare is coming true...fucking hilarious
bye bye Comex
Gold cartel banks dropped the price of gold to cover shorts and have now taken all the phyzz.
Pretty fuckin' simple.
Up we go from here!
http://www.youtube.com/watch?v=fyklt01lN_I
:D
Pretty hard not to grin then smile after reading this.
Thanks Tyler(s).
Swan song on Friday?
I don't know about you people here but this is looking like the end of the America I grew up in and we're in for some severe changes. I just hope my family and I are lucky enough to live to see the other side of what's coming.
Never submit
Never surrender
It will only be the end when you do
"Severe changes?" Is that good or is it bad?
Change is change.
There is no "other side." Time is constant. Change is inevitable. What we will find out is what it takes to engage in more sane and sustainable forms of living. I'm sure that others will die fighting for the unsustainable, but I see such behavior as purely suicidal: there's NO win.
It is my suggestion that one is better off trying to create the "other side" rather than waiting for it.
Total entropy always increases, never, never decreases. You can only reduce entropy locally by increasing the total entropy in the larger system. It takes energy to reduce entropy locally.
And the 2nd law of thermodynamics applies to the entire universe, there is no escape....
(But that does beg the question, how did a starting point with zero entropy occur in the first place?)
The answer to that question so far, for us humans with limited intelligence, is God.
The question remains: Is the universe a closed system? If not the 2nd law does not apply ...
LONG MAXIMUM DISORDER.
Depends on the change. Nuclear war is bad. JPM bankrupt is good.
Arrest Jamie Dimon and shut down JP Morgan.
the day of reckoning for the fiat system is coming soon. i can really smell it in the air now.
"...because if tomorrow it receives withdrawal requests for 141,581.5 ounces +1, then things get really interesting."
When one owns the game and controls and changes the rules whenever they want to, it makes it really hard to defeat them, even with die hard persistence. They will not go away quietly...
I will believe it when I see it... In the mean time, I will continue to stack whenever gift horses come around in order to do my part to try to make right a part of what is wrong in this world...
Looks like a battle with Syria could come in real handy right about now.
Now I understand why this article has been the longest highlighted article on ZH in two years.
Gold is about to go vertical and JP Morgan is about to get bailed out by the FED.
Look to " target marketing " for a better reason.
ZH know its readership.
This article is a virtual pavlov"s bell for the regulars.
Also see; Confermational bias.
Aaaaand it's gone.
Fuck you Bernanke.
Max must have a big woodie right about now
For now, every mail order dealer I have ordered from for the past few years has made good on their deliveries to me and THAT is important to me. Some dealers take a lot longer than others, but I still get my phizz...
When I start getting notices that they will have to return my fiat due to inability to deliver, then I will be sad...