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JPM Vaulted Gold Slides To New All Time Low
Beginning on May 13, when JPM's commercial gold holdings tumbled to an all time low of 137,377 ounces, the firm's daily Comex updates became erratic with daily reallocations out of its Registered holdings into Eligible. Over the next three weeks, some 209K ounces had their warrants detached, and shifted into customer account, all the while the total number of ounces held in the JPM gold warehouse at 1 Chase Manhattan Plaza, remained flat at 817,167. Then two days ago the first withdrawal in nearly one month took place, with 13K ounces pulled out of JPM's Eligible holdings. Moments ago, the daily Comex update showed that yet another 15.4K ounces were withdrawn out of JPM, following the latest gold withdrawal, offset by a 49K ounces reallocation. This however is still short of the roughly 70K ounces due for delivery. Long story short, as of close of activity on June 3, the total gold held by the JPMorgan depository is now the lowest it has ever been at just 788,786 ounces and once again falling fast.
Then again, as many have noticed, the addition of an peculiar footnote to the daily Comex report which states the following:
The information in this report is taken from sources believed to be reliable; however,
the Commodity Exchange, Inc. disclaims all liability whatsoever with regard to its accuracy or completeness.
This report is produced for information purposes only.
means that it is quite possible that all of the above numbers are just that, and that in reality JPM (and others) are representing whatever they wish. It is, however, odd that the CME decided to add this disclaimer only now.
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Gold looks like it did in 2009. Right before it shot up to $2000.
Soon, instead of JP Morgan stock being $50 bucks and silver being $25, there will be a reversal.
Let's just call it the Keiser promise.
http://goldsilverbitcoin.com
And largest gold mine on Earth is shutdown for at least 3 months:
http://seekingalpha.com/article/1476581-biggest-gold-mine-in-the-world-shutdown-is-this-the-catalyst-gold-has-been-awaiting
Could it be JPM needs to try to keep a lid on the physical gold price in Asia?
Short JPM now.
http://scharts.co/ZM269N
Pick up some virtual FRNCoins (USD) from your trading account and then visit APMEX and exchange digital FRNCoins for real gold and silver.
A more sophisticated explanation here:
http://www.youtube.com/watch?v=jvU0Ziphi5s
Shorting an agent of the US Treasury? I don't think your due diligence is complete.
That's ok. You can use your paycheque to buy silver too. Either way just keep on trading your digital FRNCoins for real assets. I planted two vegetable gardens this week by trading virtual digital Canadian FRNCoins for real plants.
The real tell will be a giant poster in Chase Plaza saying
'cash for gold',
apply within.
When an elite, or politician, is caught in a lie they go through 3 steps like clockwork before their world crumbles:
Step 1: Deny any wrong doing
Step 2: Seek legal defence - disclaimer - as the noose tightens
Step 3: Admission and/or proven guilty - reputation ruined.
Looks like JPM is now at step 2.
The easy fix for JPM is to buy a few (cheap) gold miners (G, ABX).
So.... Lemme get this straight....
You traded your computer coins for a handful of seeds?
Jack, Jack, Jack........
Well played, Sir.
I think the time is coming when we all need to do this. Fuck Monsanto!
APMEX is doing 10 OZ silver bars $.99 over spot. I had to stack a little more today!
I also got that email followed by a second one stating free shipping. Didn't read the details.
'Gold looks like it did in 2009. Right before it shot up to $2000'.
No offence but honestly, what the fuuuuuck does that mean. Is that an imperical evaluation of the gold market or a 'I just pulled a comment out of my ass' evaluation.
*empirical
what it means is within 6-12 months you should be unsurprised to see gold back at 1900 and it means that within another 6-12 months you should be unsurprised to see gold at 2500 to 2800 US dollars per 31.1 grams or 1 troy oz. Period.
Domain name http://goldsilverbitcoin.com reads like an icecreamcakediarrhea.
Some things just don't mix.
I had to click on the link just to see what an icecreamcakediarrhea looked like since I've never had the privilege of experiencing that personally myself and didn't want to take the risk of googling it (just in case someone had actually gone so far as posting an image [which is highly probable])
collateral shortages all over the place.
In other words, they are lying about everything?
How refreshingly candid...
consider it 'printing' the truth
Does JPM even have a vault?
Don't be silly! Of course they do. Just go to One Chase Manhattan Plaza. Then go down to sub-basement 5, about 90 feet underground, and walk down a short tunnel. You will come to a door with a sign that says, FRBNY Gold Vault. Just knock and give the password, "backwardation" and they should let you in.
;-)
But will it be worth the trip to the FRBNY if the cupboard is bare there as well?
You can always pick up your parting gifts from the lobby gift shop.
Gold-colored Tungsten Bars.
They make great doorstops.
look out, trap door!
I believe JPM is having an assault on their vault...
Looks like JPM is getting Gold fingered
Does this mean they are going to come after my crowns?
Yes. But only after they've retrieved any harvestable organs.
All your crowns are belong to us!
That graph looks like a cliff. A BIG FUCKING CLIFF.
I feel the ground shaking beneath 1 Chase Plaza, bitchez.
Lets get this straight. The exchange which is where the banksters play with the precious metal prices, has just said that it cannot vouch for the accuracy of bankster held deposits in "ounces." So what benefit does the exchange provide then? Why are they licensed and regulated?
Great question.
People perceive that they are regulated, and in this Ponzi perception is King.
+1 NWO. They have no purpose as a middleman and serve no one. Default is a comin', I done smell it in mah bones.
. . . and we just saw it in Hong Kong.
Of course the exchanges are credible, trustworthy, and regulated. Congress just said with Dodd-Frank that cleared "swap" trades (including even cum swaps between two chicks) are safer than OTC trades. That's why every corporate and major bank just had to drop thousands (if not millions) of FRNs to become compliant... because assfucks Barney "Fuckface" Frank and Chris "dull" Dodd think they are regulated entities... Hello! They "regulate" themselves. Dumbasses....
Yep... As I said the other day, a commodity exchange that settles in anything (FRNs included) other than the underlying commodity is nothing but a gambling parlor. There is a problem with my own analogy however. Namely that when I wager at the track, they settle in the same currency with which I placed my bet. If they settled in, let's say Skittles, their future as an ongoing concern would be highly dubious.
Anyone think the future of Crimex is anything other than dubious? This ends poorly.
They are "regulated", but regulated in this context takes on an unconventional definition.
i always get nervous when someone starts a sentence( or paragraph) with 'lets gets this straight' as now i'm impelled to tell the truth. that often proves awkward.
Of course they're regulated! By the CFTC..
uhh. Wait a minute...
Never mind.
they provide jobs for ivy league graduates
Nobody has faith in anything written and accounted for. You have to get as much now before the end as you can. We are under attack. Somebody do something. Call the police. Don't let Jamie Dimon get away with the United States of America's gold reserves.
Wrong tense. "Got away with."
To get an accurate reading you need to take in account the left axis ...oh wait it does start at zero, my bad
That could be a chart of their loan loss reserves just as easily.
Aaahhhh my ho chi min girls are back --- with the morgue
long tungsten
Well, I bet that JPM done this because there's a Gold Bug born every minute. That makes me think of an Irish Poem!
One Good Churn. . .
Say what you will about Chase,
There ain't that much gold in the place.
It was sold on the sly,
When prices were high,
To buy back when it falls on its face.
Squeeky Fromm, Girl Reporter
Sqeeky, is this you? http://birtherthinktank.wordpress.com/
Maybe this requires more 'One Good Churn' but having trouble making sense of your website and its purpose or biz model.
Kirk:
That was one of my blogs. I started out as a Common Sense Suspicious Birther, then when Obama produced the long form I quit being a Birther. Then I started slamming crap out of the "Two Citizen Parents" birthers, because I never did buy into that idiocy. I haven't written anything new there since last October. It was one of the very best anti-Birther blogs out there and just drove people like Orly Taitz nutz. It wasn't for "biz." I did it for free. I may go back to blogging one of these days, on general politics, but I have been busy with other stuff, like learning how to play guitar, which I can now do a B minor chord! Plus, my little finger is starting to stretch out FINALLY. Plus, I may go to law school because my BFF Fabia Sheen, Esq., a lawyer, says I am a "natural" and would do well. I help her out sometimes doing legal assistant stuff and even look up cases and stuff and help write briefs.
Squeeky Fromm, Girl Reporter
You bought into the clearly fake, proven fake paper, and you happen by coincidence also to believe gold to be a bubble?
Never go full retard.
It's really no wonder why most here hate your guts. You make fun of immoral rotten banksters fleecing the public and then you expect people to respect your views?
You really are a clueless fucking retard Squeeky.
Bpigs:
I prefer to think I help keep the public from getting fleeced by the immoral rotten banksters. Because the public is going to get screwed bigtime when the gold bubble pops all the way.
Squeeky Fromm, Girl Reporter
+1 squeeky. You're a heretic. I like that.
Be neither a PM shill nor a paper pimp.
the squeeky wheel
gets the lube..
Cute. Except that they can't buy it all back. The gold's all been recast in China and other than the joke ETF, the GLD, there's no place to buy gold when the price drops as low as it has. No entity other than a bullion bank would sell gold at a price this low.
. . . or a miner! (. . . historically speaking. But many are smarter and tougher in such matters) Then there's ABX, the "captive" miner.
@Fred Hayek
Funny you should mention that as i am unable to purchase anymore of those beautiful ounce pandas from my source. no, not even the halves.
Squeeky that finger problem, i can help you out with that ( wink wink).
Not a problem.
Jamie, I am a team player and can help out my bank. For a slight premium on bullion. Call me to discuss details. ;-)
JPM has the FED by the balls - so what do they need gold for?
All the non-Fed CBs are looking for their gold back that they loaned to the BBs. JPM (and many others) need to return it.
The fact that the non-Fed CBs want the gold back is the important issue here. The CBs don't trust each other without gold backing them up, and without trust among the CBs, it's hard to keep the ponzi going. Prisoner's dilemma, game theory and all that.
Once again, we don't have a gold shortage, we have a trust shortage, gold is just a reflection of the lack of trust. Given that I'm current long lies and deception, I'm ok with this.
"The CBs don't trust each other without gold backing them up"
This is why we have gold to begin with, why it is not a barbarous relic. The barbarous relic is the human impulse to fraud and thievery that amplifies with power and opportunity.
That Disclaimer is odd indeed, no smoke without fire.
The next month should be interesting. Sinclair said in London on Saturday that Comex will go to Cash Settlement or equivalent in between 30 and 90 days....
GLD instead of cash provides time, and plausible deniability- for those willing to suspend their disbelief just a little bit longer...
It seems increasingly likely that a failure of the futures market is in the wind. I was asked a few days ago "So what?". I didn't have an answer. It seems a big deal to me but I can't tell you why. So if they can Corzine MF Global why can't they let the market for barbaric relics collapse and just walk away unscathed.
It's the market for paper proxies that collapses, not the market for barbarous relics. Those who espoused fidelity to fiat gold being exposed publicly as cuckolds will unleash some interesting volatility into the marketplace, at least among those exposed who aren't directly profiting by denouement and laughing all the way back to their bank.
Once the Cocksuckers metal game is exposed, currencies will not walk away unscathed. I smell a new Gold rush. Problem this century is, where's the Gold??
The next new source to be mined - and it's already started - is the holdings of 'lesser' central banks in places like Libya (anyone account for all their gold yet?)
Some will be demanded as payment for outstanding loans (think PIIGS and places like Cyprus) while others will have their assets confiscated via military action.
The final move will be the pursuit of 'private' vaulted holdings (if any remain)
Without the futures market, agriculture goes local if it stays in business at all.
In my view if CRIMEX goes to paper settlement, nothing much happens. So long as CRIMEX can settle with paper at a premium, no one much cares. If they can't, then the lawyers descend like locusts. Either way, it's not all that dramatic.
While it's bordering on religious belief here to think that once the CRIMEX defaults that PM's will go soaring in price, I don't believe it. If you compare the price of paper to physical right now, the premiums really aren't all that significant. It's about 5% on Ag and 2% on Au right now. So the price of gold goes up $50-$100/toz because of a CRIMEX default, so what? And we already HAVE physical price discovery independent of the futures markets, albeit on a very small scale. Look at e-bay and nucleo exchange if you're bored. The prices are more than buying from a dealer, but not that much.
Found on the acknowledgements page of the Warren Commission Report:
The information in this report is taken from sources believed to be reliable; however,
the Warren Commission disclaims all liability whatsoever with regard to its accuracy or completeness. This report is produced for information purposes only.
Found on the FBI-Waco, Tx report:
The information in this report is taken from sources believed to be reliable; however,
the FBI disclaims all liability whatsoever with regard to its accuracy or completeness.
This report is produced for information purposes only.
you know, ive had this feeling at least 5 times...the one where the data and anecdotes start to look ominous.........you could swear this time is it..........its coming soon.............and then..........................nothing..........the dow marches higher....................the same old anemic but not destructive economic numbers get released...........................this whole thing screams of the little boy who cried wolf....................
I am sure I have cold called you several times in my life.
you are a tough sell. I have to admit at this point it does seem like what you describe though.
haha....i remember you fonz....you sold me that penny stock that increased 28,000% and i bought in at 27,999 percent.............
That's the plan Kito. Lull us into complacency until even the diehard ZH crowd throws in the towel and bows to their superiority.
Will reality ever win?
i dont even know what reality is anymore.....................
Reality is only what each one of us knows how much PMs fell thru the bottom of our boats.
Reality is what 'they' choose to make it. Wasn't that what Rove said back in Bush I? and sadly, it seems that IS the case, at least with the economy.... (though they don't have as firm a grip when iot comes to Iraq, Afghanistan, WMD's and all the rest)
I will not bow to superiority. But i will bow to generational wealth.
The 'conditioning' is going as planned...........This is evident in the spastic ellipsis.........or maybe its just the blow..............................................which is part of the plan too. That is, either be numbed by Freudian repetition compulsion or cheap blow courtesy of El Luchador of Columbia.
Whom is next?
Hm Tyler is no longer believing CME data?
Time for Tyler to start NOT believing any Federal Reserve data. It's all propaganda.
It's not Tyler disbelieving the CME data, I doubt they have in a while.
As of today, not even the CME believes the CME's own gold stock report!
There is so much data that none is correct.
Mindset has to change. People should invest based on incorrect data and purposfully misleading
Perhaps someone at CME heard about LIeBOR.. and just noticed the firm names involved...
CME sunk MF Global
So true. How about that former CME president who tried to buy, what was it, two contracts worth, 200 oz. of gold and they refused to deliver it?
Scotia's numbers look pretty strange on the report as well. Their registered hasn't fallen as much as a percentage, but it's still down 50% v. two months ago. Magically new AU appears (over and over) to keep eligible at 2.7M oz.
I'm convinced the actual "zero stock available" number for COMEX is around 6M oz eligible, and I'm betting that's where the disclaimer is coming from. CME hasn't got a fucking clue if the reported numbers are real and the shit isn't in their warehouse.
I'd take the disclaimer as a ass-covering pre-default. It may not be far away if they're backing off the validity of the numbers.
They probably hired the guy who estimates Saudi oil reserves.
That TUNNEL between the NY Fed gold vault and the JPM Chase Plaza vault may come in handy this month...
Jamie: 'Who got the keys for the tunnel door?, ehh, ..come on guys, we need the key now!'
The Fed has mostly tungsten and Roosevelt's melt down bars, and they sent much of the meltdown bars to South Africa last month to be refined. They have a Plan B we just don't know what it is. It's scary that this drawdown started around the time of the meeting between Obama and that nasty list of bankers in April.
well, you have to wonder exactly what dirty trick they are going to pull next to keep this fraud going.....or which government official is going to get a special phone call from Jamie....
and then presto, chango......JPM will suddenly have gold....paper gold, of course, cause they haven't had real stuff for years.....or tungsten.....whatever....
Jamie will know who to call to make everything "alright" and keep the fraudulent game going.
Problem with paper gold is delivery -- that exposes that it's paper.
So they need paper gold with guaranteed non-delivery. My guess is that trading gets suspended or altered in some way to guarantee non-delivery but not be a default. I think if they changed delivery timing they might be able to pull it off (maintaining paper price manipulation would requiring delivery.) Maybe CME unilaterally says due to warehouse difficulties or something similar contracts get filled within 60 days (at first) instead of the current "by the end of the delivery month." Then they can change from 60 to 90, 90 to 180, etc to manipulate more and delay the inevitable.
That, or piles of free fiat to settle in cash. Of course next go-round that makes JPM et al targets and increases demands for delivery, not reduce them.
Or they could just give themselves seven years to deliver...it's been done before...
Germany and Switzerland
+1
All future traders grow ballz and make your gold "eligiable"
Someone earlier in ZH suggested that they will simply close, just like HKex, then cash-settle everything.
They could just say interest in gold trading has fallen, so they will have to shut down the gold futures market. This way CME can continue operating with its other divisions.
The fraud is already known, and the pricing shows this. Paper gold trades at a discount to real gold.
The paper trade will continue, until it is apparent that nobody has a duty to fulfill the obligations of their contract. The buyers will then disapear, and all the holders of the paper will have, is a piece of paper that no longer pretends to be anything.
At some point in time the bankers, the government, the agencies, the central banks and others who are conspiring to hide the truth, will turn upon each other and this is how the truth will be revealed.
An example of this is a statement released by the Greek Statistical Service (ELSTAT) on April 24, 2013 which says:
"The transmission of deficit and debt figures for 2013 does not imply any quality assessment and certification or validation of these figures by ELSTAT. They are forecasts calculated by the Ministry of Finance for which the Ministry is solely responsible."
It looks like someone is starting to protect their backside and we will see more of this as time goes on.
I would be surprised if there was anything left in the JP/COMEX vaults besides paper IOU's.
Shit...
Not even paper will be found as all evidence of what has happened must be destroyed.
800,000 ozs (25 tonnes) is nothing in terms of speculators. Even 8m ozs is possible for speculators. In late 1967 and March 1968, 'speculators' (including aRothschild syndicate), were buying up 100s of tonnes on the London market, and taking delivery of all that US gold that was flown into RAF Mildenhall by the USAF...
A drop in the bucket--why is this story newsworthy?
Harvey Organ on this:
We are still missing 71,611 oz which must come from JPMorgan's customer account. The initial delivery notice issued from JPMorgan occurred a week ago last Friday.
On the dealer side of JPMorgan: the total number of gold contracts issued from the JPMorgan vault equals 4551 contracts (day 1) + 192 contracts (day 2) + 192 (day 3)
equals 4935 contracts or 493,500 oz
JPMorgan's dealer vault registers tonight 421,323.24 oz
somehow we have a huge negative balance as i) the gold has not left JPMorgan's dealer account yet
and
ii) it is deficient by 72,177. oz
JPMorgan has not had any deposits in gold in quite some time.
How will JPMorgan satisfy this shortfall??
HSBC 's dealer vault gold is also slim as it remains at: 260,323.275 oz (8.09 tonnes)
http://harveyorgan.blogspot.com/
but we do not know even if those numbers are correct.
the only thing for sure is how much you are holding right now in fizz.
i am stocking up tomorrow again, the last batch fell thru the bottom of my boat.
June 21 is the date I picked for the CRIMEX collapse. Looks like I'll be close.
C'mon, Tylers, please start a Pool!
Pick the time in 1-hour blocks per day for 90 days until CRIMEX Collapse.
Winner gets a gold good delivery bar, no tungsten.
You guys could probably get one from China for the contest, and post a glossy photo of the bar for us to look at.
Maybe one of the contributors will start a CRIMEX death watch thread. Heck, I'd be happy to get the bragging rights for picking the time and or date.
Obama will issue an executive order, declaring all metals to equal, and discrimination against one, or the other to be illegal.
It all went to China.
Eventually, China will announce its holdings and things can return to the normal level of fucking stupid that you have come to expect.
What exactly will be the result when China announces it's sitting on 15,000 tonnes of gold (with its citizens personally holding god knows how many thousands more), has exchanged all its paper $US for tangible assets like African farmland, South American mines and long term energy contracts with various 'Stans and it turns out that the US is only holding gold wrapped tungsten?
The death of the $US as the world's reserve currency is not going to be pretty for the US because I fear no amount of military force will be enough to keep the rest of the world using dollars they no longer trust.
'This report is produced for information purposes only.'
ok.
thanks for the info.
uh...methinks youzza need a bettor attorney.
mis-information purposes
Comex meet your future self. HKMex
The information in this comment is taken from sources believed to be reliable; however, the poster disclaims all liability whatsoever with regard to its accuracy or completeness.
This reply is for information purposes only.
"All your gold are belong to us"
(signed)
-----China and Russia
"All your gold are belong to us"
(signed)
RIC
Russia India China
there, fixed it for ya
"It is, however, odd that the CME decided to add this disclaimer only now."
I don't think it's odd at all.
I think they just don't want to be sued when we find out that they are lying.
By my watch, I figure we might have until the end of the summer to see.
Once a whale, always whale.
Wake me up when it goes negative.
I would say something about JPM,
but it looks like they have all the rope they need.
Ha ha ha ha ha, sucker you missed.....
http://youtu.be/WH5CmB44TaY
I miss the old shit too much
The brave "Eligibles" are going for the jugular.
Fuck JPM
Hot town
Summer in the city...
Hole of my ass feelin' dirty and gritty!
Meanwhile, GLD depletion has taken a pause. Only 2 tons lost during the past 6 days.