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JPM Reclassifies Another 4.7K Ounces Of Gold Into Eligible
It's that time again when we cautiously peek at cell H25 of the daily CME Group Metal Depository Statistics worksheet to find if, following Friday's dramatic and volatile trading session in gold, someone, anyone decided to submit a delivery ticket to the JPM vault located at 1 Chase Manhattan Plaza, and reduce the already near record low gold inventory which at last check was just over 5 tons, and just one 163K troy ounce delivery request would lead to all commercial gold at the JPM vault to run down to zero. Not this time.
As it turns, in a carbon copy of Friday's internal conversion, in which 17.5k ounces of gold were selectively converted from Registered to Eligible status (for all those sticklers about nomenclature definition, this is how easy it is to convert one into the other and vice versa and how meaningless said designations really are), on Friday JPM decided to do some more redefinition, and converted another 4.7k ounces of gold from registered into eligible, pushing up the total by a fractional amount to 163.8k ounces, still just a hair's breath away from the all time record low reported last Thursday.
And as a tangent, it is perhaps just as notable that HSBC just saw 76K ounces of its registered gold, or 17% of the total gold stored underneath Bryant Park, exit through the front door, destination unknown, leaving just 378K ounces of registered gold with the London-headquartered bank best known for aiding and abetting international money laundering, without admitting or denying it of course.
The second daily internal conversion in a row:
And the total JPM eligible gold as reported by Comex:
Thus, we look forward to tomorrow's update to see how much more "registered" gold JPM will convert into eligible, or if nobody will continue to demand delivery after the biggest "run" on JPM's vault in history.
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Seriously off topic, but the mainstream media is reporting in Canada on how the Central Banks have a "war on savers".
See: http://www.cbc.ca/news/world/story/2013/04/26/f-rfa-macdonald-power-shift-savers.html
Neil Macdonald: The 'monarchs of money' and the war on savers Power Shift: First in a series on the rise of the central bankers and the global imposition of cheap creditThey are very obviously dumping their paper positions and hauling off the physical into their private bunkers.
Something BIG is about to happen VERY SOON!
BEWARE!
http://www.youtube.com/watch?v=fyklt01lN_I
Never mind JPM. Even bigger amounts are leaving HSBC and Scotia bank. What do the Brits and Canucks know, that we should also?
All off into private bunkers?
Bryant Park? Well hey let's get the shovels out~~~
The HSBC vault is the old Republic National Bank vault...wonder if any of the Safra family's gold is hangin' out there on level SC2 ?
This thought crossed my mind just after the smack down, the bastards are dumping paper, and buying physical at a discounted price. ....................Oh... FUCK YOU BLYTHE whore bitch, spawn of Satan.
A dozen bars fell off the golf cart in the tunnel last week on the way back from 33 Liberty; then Dudley drove over them coming over yesterday and blew a tire...he was damn angry I can tell ya...
so they had to throw in the 4700 oz adjustment
Its a bumpy ride in that there tunnel
One day they're gonna let the potheads out of prison, and fill those cells with real criminals.
We wish, but don't hold your breath.
do chen.. coin shop report from down there?
Canada's economic president , Garth Turner, would state you have to remove the tinfoil from your hat and don't touch Gold..buy mutual funds and keep your money in the stockmarket..Gold is a relic..The dollar will last forever and ever..and ever..and ever.................................................................................................
having the first name garth is the ultimate low ground in an economic argument. LMAO!
Hey, I've got friends in low places...
Yes, but for how long?
Party on Garth.
It's code for the Insiders to "buy & hoard". Familiars always look after the Vampire masters.
The big question is how long they can continue to play this shell game.
fucking forever. Forget it.
I wonder if JPM just bought a bunch of gold from HSBC.
If we assume these numbers are accurate, then the only explanation I can come up with is JPM said to whoever showed up with a delivery ticket: "I fucking dare you to ask for delivery".
I'm chalking this up to the gold vaults just went the way of the debt ceiling. Permanent suspended animation.
Time to move on to the next non event.
they said; 'go talk to the black dude standing over there'
Isn't that what the poll watchers said to anyone who wanted to vote other than for Obama at a Philadelphia voting precinct back in 2008?...
You remember... those uniformed menacing-looking Black Panther dudes with billy-clubs...
Those same criminals Obama's AG then threw out the voter discrimination case against. "Holder's people."
You mean all four Black Panthers? Jesus, get over it,far better arguments out there.
No!... anyone who believes in the rule of law will NEVER "get over it."
Nor condone an Attorney General and his President who would sweep it under the rug!
Shame on you for even suggesting such a thing!
Not to stoop into the filth and circularity of the Red Team/Blue Team debate, but are you still equally pissed about Bush v. Gore? The two Teams are in competition for who can debase the Rule of Law the best. The theft of America's wealth is occurring because private bankers, military contractors, everyone who benefits from the police state apparatus, etc have bribed politicians. Start with that and then work down to the puppets once the puppet masters are no longer in control.
"Not to stoop into the filth and circularity of the Red Team/Blue Team debate"...
uhh... you just did!
For your information, I consider Bush II the worst president in American history...
That is... until Obama!
And I'll never forgive Bush for allowing someone as incompetent as Obama to be elected.
I did stoop, and I am filthy for it. So why do you care about the panthers if you agree that the entire system is rigged? How about directing your hostility towards the riggers (yes, that's an "r")?
I do not agree that the entire system is rigged. That's a easy cop-out on your part.
But I will always point out illegal activity when I see it. Do you?
Even if your President and his AG are guilty?
Not my president, but yes, I do. I was very caught up in the Red/Blue debate until a few years ago and then after O was elected it finally dawned on me that these guys don't run the show and their sole purpose is to divide us. And yes, I call out what I see as the important illegal activity on a regular basis. I no longer view anything politicians do of substance to have anything to do with them. When Holder blatantly and openly admits that he did not prosecute a single banker because it would negatively impact "the system," I don't blame Holder. It's like spending all of your time as a cop busting the guys who hijack the trucks instead of the mobsters they work for.
So, we agree on a lot of things...
But... I believe those in powerful elected and appointed positions should be held firmly accountable for their actions, and to absolve them, and instead blame some nebulous powers above them is futile in trying to solve the immediate problem of corrupt elected officials. I prefer to try to deal with exposing the corrupt elected and appointed officials in any way I can.
I understand your point, but they are not nebulous. Look at who gave money to whom. Look at who runs the media that pounds the public with the idea that Ron Paul is a nutcase and frames the debate as whether we have dropped enough bombs on Afghanistan or hired enough TSA agents, and who refuse even to discuss the questions of millions of Americans about 9/11 or Boston. That's a concrete, good start. Until these people are held to account, we'll have Romney versus Obama versus Clinton versus Bush forever.
I just read a number of your comments and decided you're incredibly incredulously idiotic, and fucking dumb too.
Also, I think you get paid to post such fecal matter.
Honest to God...what will it finally take to put this TBTF disgrace down? How much wealth does J. Dimon need to destroy, in the name of propping up the failed status quo banking industry...before someone finally leads him off in handcuffs?
This absolutely toxic bank needs to go...period...no need to further discuss anything at all. Mr. Dimon...isn't it just about time for you to elect to "spend more time with family?" A grateful nation awaits with profound hope.
no good just taking dimon away in cuffs you'll need to take all of the wall street playa's as well as congress and potus's past, present and future, then you might have a glimmer of hope at a do over
One of the first and most obvious persons who's head needs to be put on a pike is Hank Paulson. He is one of the key players that unchained the beast completely.
Hank Paulson was merely a face for the crime syndicate, a small time pusher. He got his marching orders from higher up. Sure it would be nice to see his head on a stick, but busting him is like getting the drug pusher on the street. he goes to jail and the supplier would just get another patsy. The people who really need to hang are those who work behind the scenes.
Hank already looks like his head is on a stick. DB issued 90 million shares of stock today...massive dilution, and the stock went up. no offense to the commentor above with the "something big is about to happen soon" stuff...but the nightmare idea of this going on and on seems to me to be winning out.
there are so many nameless wall street fucktards that have booked it with millions in their pockets that history will need a steady hand to track all these fuckers down when it comes time, make your kids smart and make them want to retrace their history.
When all the central bankers are working in tandem it sure seems like it can go on forever. I think that every major player knows that they have no other choice except to play their game. The first one who tries to get out first will be the one to collapse it all, and who wants that on their plate? They need a distraction to cover for their sorry asses.
Robert Rubin. The mastermind. Should be in jail.
Didn't that small time pusher get something like 300 million tax avoidance in addition to providing GS a 10 billion parting gift? Sounds big enough to hang to me.
They ain't done yet.
Do you think the current incarnation of the USD is the only currency the FED and commercial banks will ever issue?
When one product bombs out, you come up with other "new and improved" products, yes?
Silly. It's not about money and wealth.
All of it...
And it's still not enough.
Blythe: Jamie we have a problem.
Jamie: no, Blythe, you have a problem.
Blythe: Actually, Jamie, I'll blow you just to see you headfake Congress again like you did on that whole "London Whale" thingy.
4700 ozs? What are they doing, looking in the sofa cushions?
If all they could re-jigger is 4,700 ozs, and they still did it, then they are Sofa King Fucked or Sofa King Stupid... maybe both.
@FieldingMellish
I'm praying for millions of Indian weddings next month! Jai-ho!
Commencing rererehypothecation...
Ohhh puhlease......As if they will let their ledgers create panic....ledgers are also just paper...any amount can be printed on it.......
Kito where are we meeting to celebrate the S&P breaking 1600?
applebee's
LOL
@fonzannoon
I nominate the WTF subReddit.
the khakis are a little too tight and one size too short, so you know it can only be applebee's
I have to drop by Target and grab a couple things first.
i'm a Family Dollar man meself.
I prefer Blooingdale's myself.
I prefer Brownells myself...
They sell Alpo at Brownells? ;->
No my good Dr. but they sell lead to protect it.
And trust me when this bitch blows there will be plenty of zombies who would love to get at my Prime Cuts in Gravy.
Doesn't matter, fiat price of the outing is going up, along with gold ;-)
http://www.longisland.com/best-pizza-contest.html
any of these places fonz
all good spots. pizza and bagels. Long island's only hopes. Unless you are talking about the half jewish half italian "pizza bagels" that reside all over the place.
Haha.........are you gonna stick it out on the island when your second scenario comes to fruition????? Weren't you looking at Texas????
I am looking at a lot of places. My realistic scenario is things just get a little worse and more difficult instead of the giant shtf moment. Within 5 years i'd like to be relocated. if all hell breaks loose before then I feel better here than anywhere else, if only because i know some good people.
you?
So no hyperinflation moment????? As for me.....we were looking to be in a less populated area but haven't actually acted on it. That comfort zone is hard to break.....
hyperinflation yes but not zimbabwe. what does it matter if gas is $4 a gallon or $400 a gallon if you don't have a pot to piss in. there is no wage growth. It's all about keeping your head above water now. Brutal.
so no total destruction of the dollar, no societal breakdown??? just sort of a slow descent into third world status??????
JPM uses mirrors to slow light speed in new Sting. Flash. Nothing to see here, or there, or where?
The only juicy detail left in this farce is whether Kyle Bass and more specifically UT got left twisting in the wind after dumping phyz and buying futures.
For such a barbaric relic there sure is a lot of it moving around.
Where is that damned pea?
When will Texas start demanding their gold back again?
(Or will another fertilizer plant go poof in 1........2........3........)
Lads we can wank/wax lyrically all night, or we can augment Tyler' work with some brain equity of our own.
So... I expect that the gold is going either into private hands, into the Fed to re-anchor the USD to gold (and mess with the BRICKs), or it's going into the IMF for gold-backed SDRs.
I fear the latter -- the dark horse -- the most, as it leads to a Global Currency (One To Rule Them All). After that, all bets are off.
The USA doesn't need to hold gold. If anyone demands delivery from the US government of gold, they'll get their order filled in lead and depleted uranium.
BRAVO!!!
Tyler
Long testors gold paint.
too expensive and the cans are too small.... Krylon
Testors works better on tungsten bars.
Tungsten bars work better as paper gold.
The quality only has to be good enough for a clean getaway....and I can get out that back door pretty damn fast.
what was that guest post? wishes, fantasies,delusions, and dumbasses. jpm fits all of these, and we let them do it!
WHEN THE WAY IS LIT, AND A BANK IS DOIN THE LIGHING - THEN YOU KNOW IT IS A SET UP!
THIS IS A SET UP!
THIS IS A SET UP!
THEY PLAN TO COLLAPSE THE EQUITY MARKETS AND HAMMER THE PAPER PRICE OF GOLD BACK TO 500$ OZ - WHICH IS WHY THEY ARE MOVING OUT ALL ELIBLE GOLD TO "DESTINATIONS UNKNOWN"!
I SMELL THE ROTTED PLAN FROM HERE!
Yeah, nothing like real deflation and a 10% interest rate to collapse the economy and hurt the greatest number of people. Seems possible. A mini Volcker move would save their fiat bacon for a while. Also, the 1% have cash. Of course it would be ugly.
The absolute very first thing I would do, is buy as much as my grubby little hands could carry, werre gold to go to $500 and Silver to $10 or whatever. Fuck. I'd back the truck up. Meep ........Meep ........Meep........ Meep........ Meep
It's not possible to raise interest rates. QE has to stop before they can get un-negative. Banks will stop lending to each other (oh wait, that's already going on?) and crash without QE and ZIRP. No Volcker move is coming. It will be inflate until it's no longer useful, and then pull the plug. We won't see $500 gold in this currency. The paper markets would break before sniffing $1000.
$500 gold..there wouldn't be an oz left on the planet..computers would be extinct as well as cell phones..the silvertards and goldtards would eat all the silver and gold in the world..$1 silver..ya babbyyyyyy
Love that silver ;-)
Pile on some shorts, then, Doggis-style.
It's all-caps, it must be right..
I don't understand, if they are trying to drive down the price why is it headed back to $1500 (and probably beyond)? Also, given the price, currently $1471 as I type, why do the shit heads of the financial media cheer when it drops a little? It's still well above $1000 an ounce! I guess fiat devaluation is one of the things gold price indicates and they need to draw attention away from this?
" why to the shits of the financial media cheers when gold falls a little?"
Because they are told to do so!
I have just read this tweet
RT @GSElevator: Krugman orders a pizza. Guy asks if he wants it cut into 6 or 8 slices. Krugman says, '8 please. I'm very hungry today.'
Fuck you professor!
What do you expect? Krugman is an economist.
An economist will tell you that if you sit on a block of ice and set your hair on fire; on average you should be comfortable...
Quadruple assay those bars
Keep the gun pointed at them until the results are in.
This report is no different than the B.S. COT report from the CRIMEX. You see what they want you to see. How you choose to interpret the message and how you act from there is your own choice.
All I know is never put all if your investment eggs in one basket, even PM's, and do not buy or sell all of a position at once. You rarely if ever hit the exact top to sell, or the exact bottom to buy. The guys that tout they got in and out at the perfect time are only telling half of the story, or they are just plain full of shit. Good luck and God Bless.
Today the secondary trend of gold and silver turned bullish. Time to keep the eyes glued on the daily charts as the primary trend may change to bullish soon as explained here:
http://www.dowtheoryinvestment.com/2013/04/dow-theory-update-for-april-2...
"This is the postwar bonanza for the U.S., which Americans tend to think is due to their superior productive and organizational ability. Actually, it is the collection of tribute from the world, on a scale which makes the Roman Empire pale by comparison. The Americans have had an imperial "bread and circuses" at the expense of the rest of the world. No wonder they are smiling!"
http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=154
What is going on with JPM?
Anybody else see the pattern of 0hedge posting hard financial pieces AM and click bait for the reloading/illuminatti blaming/tub thumpin/silver stackin bunker builders PM?
You're just jealous cause you didn't think of 0hedge first.
So, all you're left with is bitchin' and whinin' and making sarcastic remarks about someone else's success.
Yes, I noticed. But I don't care. It's perfect reading whilst tub thumping. Besides, there's nothing better to do when you're flying solo in the bunker and the silver's been stacked and the guns are loaded for bear. But I have no idea where you get this illuminati stuff. Nobody believes that stuff. I think the Rosacrucians are a bigger risk. And the Masons.
Europeans vs Americans.
timezone-wise, yes. though many ZHer live/work abroad, and some are nightbirds
nevertheless, after a certain hour ZH becomes - for lack of a better word... parochial
That's so when they look at what you're browsing at work, they see financial articles. Later on, you can read the conspiracy articles once you get home without having it noticed at work. Actually, it might also have something to do with the finanacial markets being open during the day so there is financial stuff to write about - then needing click-grabbing filler articles at night...
I get the feeling there is a game afoot.
What if the whole purpose is to get as much of the gold they have into the hands of the general public, then at some key moment, tax everyone for any transfer or sale of the gold. The returns will be greater than sitting in a dusty vault. I can think of several what ifs...
JPM doesn't just roll over and die, not when you're virtually the fourth branch of government.
this is a dirty scratched up gold bar with "scrap" crossed out and "eligible" written in crayon.
This is indeed a bank run. When the level or pace reaches a certain level...system reboot will commence.
This is reminiscent of the last monetary regime change when the situation became intolerable and Nixon shut it down.
The question is what is the level or pace to induce the trigger?
US mint updated within last few hours.
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2013
Looks like ASE's finally updated as well, approx 500K increase. AGE`s 1K up.
I just learned something new. No platinum since 2008. Been sleeping I guess!
WTF is this shit... 4.7K ounces re-classified... JPM should up and die already so we can get on with our lives... we want EXCITEMENT and ACTION!!!
The physical gold run is on. Soon ownership of gold will be illegal or defined as money laundering. Confiscation is next.
You may be run, but I hope you're wrong. That one is a bear to mitigate. Move it far offshore, or bury it well for a long time. Should you decide that your/ our government has been hijacked by frauds and criminals.
Everything is a virtual game. There are enough resources and wealth to last 10 billion people on unemployment, disability and student grants with housing and food for the next 100 years. Who is to argue otherwise.
Re-distribute the stolen wealth from the bankster globalists and lets see where we stand.
Searching down the back of the sofa for change.
Sorry, I was away thumping my tub.
I'll admit I have bunker envy.
(OK the real deal: Queen Elizabeth told J Dimon to tell me to chill but with tub thumping and whatnot I missed the text.)
(OK the real real deal: Queen Elizabeth is a cranky old lady who can barely find her own butt with a handfull of charmin and I'm bored and typing this in my robe before work)
(OK the real, real, real deal: never mind my tub is calling)
Depending on how much you are purchasing, gold on ebay (the new, real market for PMs) is selling for anywhere between $1550 and $2000, per ounce, the higher number being the price paid for fractions of ounces or even fractions of grams (1/10 grams are ridiculously priced, well over $2k/oz.).
The high end on the scale - for the smallest amounts - seems to indicate that a mania is gradually forming. Small-timers with limited resources are thinking, "I MUST have some gold, no matter the cost." Many 1/10 oz gold coins are selling for well over $200.
If the trend accelerates and gold and silver become recognized as worthwhile investments or hedges - no matter how small the amount - by just 2% of the population in the US, expect gold at $2k to be the norm, rather than the exception per small denominations.
I'm seeing plenty of 1 oz. gold bars and coins going for upwards of $1550, most at $1600 and higher. Krugerrands are holding pretty steady for 1 oz coins at $1525-1560, with a rare one going for right at $1500, but not often.
Since ebay is charging 10% fees to sellers, the sellers are getting premiums insufficient to compensate for said fees, making it a real buyers' market. Demand is through the roof. Any properly-priced auction sells, usually with multiple bidders. Silver is still getting roughly $28-31 per ounce over all varieties of coins, bars and denominations.