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JPMorgan Parts With Another 21,000 Ounces Of Gold, Holdings Drop To New Record Low

Tyler Durden's picture




 

Those tens of thousands of outstanding delivery requests against JPM are finally starting to make their way through the pipeline: following the withdrawal of 28,380 ounces of gold after nearly one month of radiosilence out of the vault located below 1 CMP, today the CME reported that another 21k troy ounces of eligible gold were withdrawn from the bank (coupled with the reallocation of another 8.8K registered into eligible), taking the total to a fresh record low of 767,752 ounces.

In the meantime the delivery notices keep climbing, and in the month of June, JPM accounts for over 80% of all delivery activity:

Of course, with disclaimers such as this from the Comex...

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.

... all bets are off

 

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Wed, 06/05/2013 - 17:20 | 3627634 IridiumRebel
IridiumRebel's picture

DIE JPM DIE!
....which means "THE JPM THE!" In German.

Wed, 06/05/2013 - 17:24 | 3627653 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Wasn't that Conan's joke?  I love the old Sideshow Bob episodes. 

Wed, 06/05/2013 - 17:28 | 3627662 Nevermore Peabody
Nevermore Peabody's picture

I checked my unregistered vault levels, and it's at (personal) record high levels.

Wed, 06/05/2013 - 17:40 | 3627698 Pinto Currency
Wed, 06/05/2013 - 17:51 | 3627733 bank guy in Brussels
bank guy in Brussels's picture

American dissidents, the Liberty Movement etc. often say that it is something like the truth behind the 11 September 2001 attack, that will finally wake up Americans to accept that USA government is a fascist fraud

But sometimes I think that the day Americans really 'wake up', is the day they find out, there really is no gold in Fort Knox or in the cellar of the New York Federal Reserve

That is when Americans will understand ... the oligarchs stole all the gold, the people's gold, and the country and system really are bankrupt

And then the American system will fall, overnight, like the old Soviet Union

Funny quote from somebody in Kentucky familiar with the Fort Knox operation ... said the only gold there, was in the teeth of some of the security guards

Wed, 06/05/2013 - 18:21 | 3627834 MeelionDollerBogus
MeelionDollerBogus's picture

I say they won't give a fuck,

the day they find walmart empty and Dancing with the Tards off the air is the day they'll wake up and peer over the obese belly of apathy hanging off their fluoridated rib cages and realize they're completely fucked.

Obama could literally read "Gold is for terrorists so we proudly have no gold anymore in Fort Knox!" and the dumbfucks would cheer at their Hopium and beg for more change.

Wed, 06/05/2013 - 18:28 | 3627847 Bastiat
Bastiat's picture

I need to watch Idiocracy again.

Wed, 06/05/2013 - 19:20 | 3627993 BTFDemocracy
BTFDemocracy's picture

You are an unfit mother. Your children will be placed in the custody of Carl's Jr. Carl's Jr. Fuck you. I'm eating.

Wed, 06/05/2013 - 21:39 | 3628330 EINSILVERGUY
EINSILVERGUY's picture

Yes , all we need is for Obama to release some porn tapes and start his WWF internship and Dwayne Elizando Mountain Dew Herbert Camacho will be in the House Representin

Wed, 06/05/2013 - 20:39 | 3628178 lakecity55
lakecity55's picture

Wow, it must have been the 'big correction' today in equities!

BTFD!

Stock on Sale!

Gold is barbarous and is a relic. Do not buy any.

Wed, 06/05/2013 - 21:12 | 3628276 BoNeSxxx
BoNeSxxx's picture


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.

Thu, 06/06/2013 - 01:42 | 3628845 MeelionDollerBogus
MeelionDollerBogus's picture

I hear there's gonna be a dividend raise and a massive split on...

SARC:NYSE

Thu, 06/06/2013 - 01:41 | 3628843 MeelionDollerBogus
MeelionDollerBogus's picture

it's got electrolytes - it's what ameri-cows CRAVE

Fri, 06/07/2013 - 06:13 | 3632871 Anasteus
Anasteus's picture

Tyler, I could not find the mentioned 21k ounces withdrawn from JPM for that day in the CME report. All I can see is 0 ounces withdrawn, 0 ounces received (that is, 0 ounces net) and 996 ounces reallocated in the opposite direction, from eligible into registered. The total reserve of 767,752 ounces is ok.

Any idea what's gone on out there?

Wed, 06/05/2013 - 23:07 | 3628562 not applicable
not applicable's picture

Such truth would most likely not make it into mainstream headlines. Even if it did, most Americans would turn the channel to The Bachelorette, Pretty Little Liars, Mad Men etc..the only thing that would cause the average American to to "wake up" is $10/gallon gasonline.

Wed, 06/05/2013 - 18:59 | 3627943 SILVERGEDDON
SILVERGEDDON's picture

Jew

Precious

Metals.

I hear the sound of a giant PM toilet flushing at the Morgue.

Suck it , you Captains of Industry, you Pirates of Paper.

Wed, 06/05/2013 - 18:44 | 3627890 kchrisc
kchrisc's picture

And the arsenal?

Wed, 06/05/2013 - 21:08 | 3628270 WTFUD
WTFUD's picture

Dear Mr N. Peabody

Could you please supply us with your address and a telephone number where we could reach you at work.

Mr Noddy (IRS)

Thu, 06/06/2013 - 00:47 | 3628771 kchrisc
kchrisc's picture

"And please fill-out this 60-page pre-meeting questionnaire, especially the section on political affiliations, voting and whether you know how to fly small planes. That will better assist you in helping us in helping ourselves to your wealth and life. Thank you, Mr. Noddy (IRS)."

"Hint: We already know the answers, but we just want to see if we can get you on lying. That makes things easier for us."

Wed, 06/05/2013 - 17:33 | 3627678 Wile-E-Coyote
Wile-E-Coyote's picture

Ahhaaa what's the real figures..................... fuck you JPM

Wed, 06/05/2013 - 17:36 | 3627686 IridiumRebel
IridiumRebel's picture

Juror #5:
"Anyone who speaks German can't be evil."

Wed, 06/05/2013 - 19:29 | 3628022 THX 1178
THX 1178's picture

Incidentally, DIE BART DIE in german means THE BEARD THE...

Wed, 06/05/2013 - 17:26 | 3627658 UH-60 Driver
UH-60 Driver's picture

Why would people be spending real money on commodities?  They should be purchasing stocks with dividends...wtf am I saying? 

EMPTY THE VAULT, LOCK THE DOORS, AND BURN IT DOWN.  Ignore the screams from inside, they are Sirens serenading you to your death. 

Wed, 06/05/2013 - 17:39 | 3627694 IridiumRebel
IridiumRebel's picture

Buy fuggin stawks! Thars a dip! YARGH!

Wed, 06/05/2013 - 17:20 | 3627636 maskone909
maskone909's picture

Man wouldnt that be awesome if JPM cracked as a result of this?!? Keep up the great work tyler

Wed, 06/05/2013 - 17:31 | 3627673 NotApplicable
NotApplicable's picture

It'll be even funnier when they're made whole again at your expense.

Wed, 06/05/2013 - 18:06 | 3627774 Nevermore Peabody
Nevermore Peabody's picture

SURELY you don't think "Joe Sixpack on Main Street" will fall for that again, do you?

Wed, 06/05/2013 - 18:19 | 3627822 MarsInScorpio
MarsInScorpio's picture

Yes.

-30-

Wed, 06/05/2013 - 18:31 | 3627858 MachoMan
MachoMan's picture

Given the support level against TARP was ~95%, I'm not sure J6P has much choice in the matter...

Wed, 06/05/2013 - 18:37 | 3627874 maskone909
maskone909's picture

And we all know those polls arnt complete bullshit

Wed, 06/05/2013 - 23:16 | 3628582 not applicable
not applicable's picture

 

Vintage Macho man at this below url.  Watch only 35 seconds from 1:20 - 1:55

http://www.youtube.com/watch?v=OpDlKyrB9Wk

Wed, 06/05/2013 - 21:20 | 3628291 BoNeSxxx
BoNeSxxx's picture

+100 NA.  That hit the spot (ahem).

Wed, 06/05/2013 - 23:11 | 3628573 not applicable
not applicable's picture

Never in a million years would I think that someone would have the same user name as me. Haha.

 

If you think about the bailouts, and the undisclosed activity at the Fed discount window just after the Lehaman collapse (still need a Fed Reserve audit to confirm this...just going with my gut on this), I believe JPM has been made whole at the tax payers' expense already...more than once.

Wed, 06/05/2013 - 17:20 | 3627638 pazmaker
pazmaker's picture

Where is it going?

Wed, 06/05/2013 - 17:21 | 3627639 Bay of Pigs
Bay of Pigs's picture

What's behind the curtain Mr Dimon?

Wed, 06/05/2013 - 18:20 | 3627828 MarsInScorpio
MarsInScorpio's picture

Nothing.

-30-

Wed, 06/05/2013 - 17:21 | 3627640 gimli
gimli's picture

Don't worry Jaime's still in charge and Ben will lend him the key to their NY vault.

Wed, 06/05/2013 - 17:43 | 3627707 gimli
gimli's picture

Of course, that's assuming Ben still has some ..... he may still be busy looking for Germany's bars.

Wed, 06/05/2013 - 21:29 | 3628309 Stuck on Zero
Stuck on Zero's picture

Jaime has probably burying the metal under his house in the Hamptons.

 

Wed, 06/05/2013 - 17:22 | 3627645 Dr. Engali
Dr. Engali's picture

Yeah that was me doing my part to break the Morgue.......I wish.

Wed, 06/05/2013 - 17:23 | 3627646 Nevermore Peabody
Nevermore Peabody's picture

I'll believe it when it hits 0.

Wed, 06/05/2013 - 17:25 | 3627655 seek
seek's picture

Which is more like when it hits 6M based on the miraculous appearance of more gold whenever the eligble gets close to that number...

Wed, 06/05/2013 - 17:56 | 3627752 Poor Grogman
Poor Grogman's picture

"Get me the president of Iran on the phone"

"I want to make them an offer for their gold so good they can't refuse"

A while later

"See that wasn't hard was it, shortage of gold indeed, you just have to call the right people"

Wed, 06/05/2013 - 18:54 | 3627926 spinone
spinone's picture

Maybe its 0 now.  What makes you believe their numbers?

Wed, 06/05/2013 - 17:23 | 3627648 EmmittFitzhume
EmmittFitzhume's picture

Where is that photo of the monopoly guy with his pockets turned inside-out?  Perfect for this.

Wed, 06/05/2013 - 17:24 | 3627652 Seasmoke
Seasmoke's picture

I am catching up to JPM in gold holdings. I may pass them by Oct. 2013.

Wed, 06/05/2013 - 17:25 | 3627656 johngaltfla
johngaltfla's picture

Eventually, someday, somehow, Germany will get their damned gold back. JPM better learn how to make the Bernank use a 3D printer to print some quick.

Wed, 06/05/2013 - 17:31 | 3627674 AL_SWEARENGEN
AL_SWEARENGEN's picture

Nah, Blythe Masters will give a brief CNBC interview like last time http://www.youtube.com/watch?v=gc9Me4qFZYo to deny these outrageous allegations.  And the CNBC ilk, like the sheep that they are will believe her.

Wed, 06/05/2013 - 17:59 | 3627762 yabyum
yabyum's picture

Al, How much for the whore  Blyth? Will a ASE cover it and a shot of rye?

Wed, 06/05/2013 - 19:16 | 3627981 AL_SWEARENGEN
AL_SWEARENGEN's picture

$5.  $7 for an assfuck.

Wed, 06/05/2013 - 20:34 | 3628166 lakecity55
lakecity55's picture

Al, I bet you have more than the CRIMEX.

Wed, 06/05/2013 - 21:00 | 3628240 yabyum
yabyum's picture

Al, Fiat or metal? 7$ is a touch high in the real deal. What ever happen to the pussy sale?

Wed, 06/05/2013 - 19:52 | 3628073 Room 101
Room 101's picture

You'd take that little?  Geeez dude, up your price!  If I were available, my minimum price to have anything to do with her would be 100 toz of Au. Plus expenses including antibiotics and entry into the witness protection program.  

Wed, 06/05/2013 - 17:28 | 3627663 Scro
Scro's picture

"All bets are of"

Classic

Wed, 06/05/2013 - 17:29 | 3627664 Bay of Pigs
Bay of Pigs's picture

"in the month of June, JPM accounts for over 80% of all delivery activity".

Anyone know off hand what that total number is?

Wed, 06/05/2013 - 17:49 | 3627728 ApollyonDestroy
ApollyonDestroy's picture

Yeah, a bigillion

Wed, 06/05/2013 - 17:29 | 3627665 maskone909
maskone909's picture

A little OT but im hoping that the miners start doing well it feels like they are at a bottom

Wed, 06/05/2013 - 18:17 | 3627818 DeadFred
DeadFred's picture

Gold has to make a move one way or the other in the next 48 hrs. The miners will follow.

Wed, 06/05/2013 - 17:30 | 3627668 kito
kito's picture

raise your green arrows if you think there IS NO FUCKING WAY JP MORGAN WILL EVER REPORT THEY ARE OUT OF GOLD.............................

Wed, 06/05/2013 - 17:33 | 3627680 maskone909
maskone909's picture

Should add to that ....

UNTILL JAMIE IS INDICTED!

Wed, 06/05/2013 - 17:38 | 3627692 semperfi
semperfi's picture

Jamie just follows orders.

Wed, 06/05/2013 - 18:47 | 3627900 eclectic syncretist
eclectic syncretist's picture

If you look closely at the numbers they've beened called to deliver almost 90,000 ounces of gold MORE THAN THEY HAVE REGISTERED already this month. This could get really interesting in a hurry.

Wed, 06/05/2013 - 22:14 | 3628423 BoNeSxxx
BoNeSxxx's picture

Would that be called "naked naked" shorting?  

Wed, 06/05/2013 - 17:41 | 3627700 DeadFred
DeadFred's picture

=Never

Wed, 06/05/2013 - 17:57 | 3627755 yabyum
yabyum's picture

Were fresh out of gold here at jpm, will you take a check.

Wed, 06/05/2013 - 18:20 | 3627830 Cosmicserpent
Cosmicserpent's picture

"We're fresh out of gold here at jpm. You WILL take a check."

 

Fixed it for ya.

Wed, 06/05/2013 - 21:02 | 3628246 yabyum
yabyum's picture

THANKS!!

Wed, 06/05/2013 - 17:48 | 3627724 disabledvet
disabledvet's picture

i pressed once bit it gave an up arrow of four. that's kinda cool. listen...the Big Picture as they say...is what folks?...???? HOW TO PAY FOR A WAR...yes, yes? by definition this is a conflict of limited scope and limited duration (and we just got the surprises to day in our National Security News to prove it. HEADLINES PEOPLE! HEADLINES!) the BEST way to pay for a war is with gold money. PERIOD. Teddy Roosevelt is STILL p/o he "didn't go bigger in 1898." Cuba? hehehehe. sure...the Phillipines too. Oh, well! "Wall Street won." hmmm. imagine that. Shall we broach the subject of Total War? Dear, God! "no gold standard whatsoever"! end of the world as we knew, know, will forever know? NOPE. "this one is TOTALLY DIFFERENT" however. in the...is it middle?...of it...Wall Street "was collapsed." that doesn't strike me as the "Usual Storyline" here. is JPM on the ropes? i wasn't big the Banks after the collapse because i have a "there you go again" problem with Large Institutions. Well...i wish i could say i was disappointed...nay, London Whale. That would be JUST prior to said "plan" being executed on. Did i recommend "going in for the kill" because i was right back then? nay..."they will win." and indeed JPM has had a stellar track record ever since. http://seekingalpha.com/symbol/jpm?source=search_general&s=jpm wow, what a buying opportunity. is it time to go in "with both fists here"? i think anyone who does that is totally CRAZY myself. but again...I'M A BULL...but hopefully not a totally stupid one. "so let's see how my latest call" (and answer) "pans out." (and yeah, disablevet is a financial panner as they say. although no one will ever say i lost billions and trillions either...

Wed, 06/05/2013 - 18:47 | 3627905 DanDaley
DanDaley's picture

Gold fixtures in the bathroom, don't forget, so no, they never will admit to being out of gold.

Wed, 06/05/2013 - 19:27 | 3628011 Bobportlandor
Bobportlandor's picture

I think your all missing the obvious.

Who is shorting gold? JPM

Who is the backstop when JPM goes under? Taxpayers

Where is the Bankers elitist personal wealth stored? Hong Kong.

Who do U think is getting that gold, China or Elitist?

Obvious!

 

Wed, 06/05/2013 - 17:31 | 3627675 semperfi
semperfi's picture

Of all the real numbers & statistics that The Syndicate obscures and lies about, why should we believe this one is the truth? Especially this one!

Wed, 06/05/2013 - 17:31 | 3627676 fijisailor
fijisailor's picture

These guys are habitual liars with .gov support.  They'll just fake their gold holdings and settle in paper.  Don't expect anyone to suffer at JPM

Wed, 06/05/2013 - 17:35 | 3627685 semperfi
semperfi's picture

JPM & Co MAKE the numbers.  MAKE the news.  MAKE the policies.  MAKE the laws.   They aren't just doing God's work - they are GOD !  Or  maybe the other guy down south.

Wed, 06/05/2013 - 20:30 | 3628153 lakecity55
lakecity55's picture

I think Down SOuth, fer sure.

Wed, 06/05/2013 - 17:40 | 3627699 Mr. Hudson
Mr. Hudson's picture

: "The information in this report is taken from sources believed to be reliable;"

 

Herman Rosenblat is the source of the information, so take it with a grain of salt.

Wed, 06/05/2013 - 17:52 | 3627734 F. Bastiat
F. Bastiat's picture

Any updates on Texas getting its gold back?

Wed, 06/05/2013 - 18:00 | 3627764 yabyum
yabyum's picture

Ask Germany, They are in the que.

Wed, 06/05/2013 - 17:53 | 3627735 Yellowhoard
Yellowhoard's picture

So. its only going to take someone to take delivery of around 1.1 billion dollars of physical to topple the house of cards?

Wed, 06/05/2013 - 17:55 | 3627747 bluskyes
bluskyes's picture

Where are the Hunt Brothers when we need them?

Wed, 06/05/2013 - 18:01 | 3627765 yabyum
yabyum's picture

Paging Mr. Sprott to the white courtesy phone.

Wed, 06/05/2013 - 18:32 | 3627859 Sach Mahoney
Sach Mahoney's picture

Are you saying Sprott is NOT HOLDING TRANSFERRABLE PHYSICAL?

Wed, 06/05/2013 - 18:50 | 3627912 eclectic syncretist
eclectic syncretist's picture

The entire comex inventory couldn't supply a single month of China's imports. It's actually a very fragile situation.

Wed, 06/05/2013 - 18:19 | 3627826 Bansters-in-my-...
Bansters-in-my- feces's picture

whatsoever......?

"disclaims all liability whatsoever " bitchez........

Too fucking funny.

The show is finally getting good......

Ps....fuck you Bernanke....

Wed, 06/05/2013 - 18:36 | 3627871 Bastiat
Bastiat's picture

Reminds me of some junk bond Preliminary Offering statements back in to 80s.  We used to read them aloud across the room, sometimes make our own additions and see if anyone noticed.  It was like the Onion of disclosures.  "This bond may default before it is even delivered.  Are you stupid?"

Wed, 06/05/2013 - 18:52 | 3627921 Lmo Mutton
Lmo Mutton's picture

"eligible gold"(Insert asterix here)

Insert asterix definition here:  Paper Gold

Wed, 06/05/2013 - 19:20 | 3627965 russwinter
russwinter's picture

Per latest report, since first notice JPM has to issue 493, 500 oz and is still reporting 412, 530 in depository stock. The delivery dates for most of this has come and gone. That means JPM needs 85,713 oz more than it has.  And there is still a June open interest of 2982 contracts or 298,200 oz remaining.  

Wed, 06/05/2013 - 19:14 | 3627978 russwinter
russwinter's picture

Per latest report, since first notice JPM has to issue 493, 500 oz and is still reporting 412, 530 in depository stock. The delivery dates for most of this has come and gone. That mean JPM needs 85,713 oz more than it has.  And there is still an open interest of 2982 contracts or 298,200 oz remaining.  

Wed, 06/05/2013 - 19:43 | 3628050 MFLTucson
MFLTucson's picture

Cant they borrow Gold from Ft Knox!  lol!!!

Wed, 06/05/2013 - 19:59 | 3628089 lakecity55
lakecity55's picture

So....all the fiat from Apmex is going to JPM so......they can pay off the accounts..............in fiats?????

Wed, 06/05/2013 - 20:41 | 3628182 Cobra
Cobra's picture

Conspiracy: When they have to deliver they just buy it from Apmex wholesale and cover the losses with their shorts? Back door gold supply!

Wed, 06/05/2013 - 20:09 | 3628100 Turin Turambar
Turin Turambar's picture

Drain it all!

Wed, 06/05/2013 - 20:25 | 3628135 lasvegaspersona
lasvegaspersona's picture

I fail to see how this is of any interest. GLD has lost 350 tons and JPM going down less than one ton gets your attention???

If JPM wants more physical they buy a few shares of GLD and as an AP take delivery and...case closed...

Wed, 06/05/2013 - 20:32 | 3628158 Bay of Pigs
Bay of Pigs's picture

How do you know GLD lost 350 tons? Maybe they never had it to begin with. The ETF's are dogshit.

Case closed.

Wed, 06/05/2013 - 20:43 | 3628187 Crash Overide
Crash Overide's picture

THEY      DON'T       HAVE       IT...

Wed, 06/05/2013 - 20:50 | 3628205 JLee2027
JLee2027's picture

One day it will show zero, and JPM will cash settle everyone and blame "speculators".

Wed, 06/05/2013 - 21:02 | 3628247 ponzisaurus
ponzisaurus's picture

Who runs bartertown?

JPM runs bartertown!

Bitchez

Wed, 06/05/2013 - 22:16 | 3628431 Frigginbeast
Frigginbeast's picture

Is it important that the Comex has no gold left, I mean they'll just pay everyone in dollars and be done with it. I mean serious.. THIS IS AMERICA

Thu, 06/06/2013 - 08:25 | 3629197 Its_the_economy...
Its_the_economy_stupid's picture

Executive order # "Cough up all yer gold at $1k/ ounce" will fix all this mess. Then reprice at $3.5K and all is well. It worked before, why not again?

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