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JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever
Curious why over the past few months JPM has quietly been accumulating a substantial amount of eligible physical gold (even as its registered gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn - keep that date in mind for a few minutes)? This may have something to do with it: moments ago the daily Comex gold vault report confirmed what many expected, namely that the JPM accumulation was merely in advance anticipation of major withdrawals. How major? Well, on January 23, JPM saw 321,500 ounces of gold depart in one day. This was tied for the single biggest daily withdrawal in history!The last time JPM had an identically sized withdrawal? December 13.... 2012.
Something tells us the next few days will see matching withdrwawals from JPM's gold vault, which at last check was officially owned by the Chinese.
And for those wondering how JPM's total gold holdings look over time here it is:
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That's because Germany wants all of it's gold.
http://www.n-tv.de/wirtschaft/Missfelder-will-Bundes-Gold-heimholen-arti...
How do you say "fail to deliver" in Chinese, and German?
"Blow off"
BYE BYE Physical GOLDie BYE BYE ...
Kisses AND See You In CHINA ...
Me Chinese, me play joke, me put Tungsten in your gold
Hey Scotia, it's JP, Yellen said give us your gold!
AND Ooooops
Traurig German's, No GOLD For You.Maybe Some Next Year???
Yet ANOTHER "buying opportunity".........right?
Meanwhile...... GOLD Is Up A Measly $7 Fucking Paper Fiats Today...
Da Manip Bullshit Continues...
http://investmentwatchblog.com/a-new-currency-revaluing-gold-reserves-ch...
jp morgue be buyin some gold.
http://www.zerohedge.com/news/2014-01-24/jpmorgans-gold-vault-has-bigges...
very nice, huh, Jamie?
http://www.zerohedge.com/news/2014-01-24/jpmorgans-gold-vault-has-bigges...
very nice, huh, Jamie?
Confucious he say "If you are still in paper Gold, you are in Wong Fook Hin place".
Anyone who bought paper gold because "it allows you to own precious metals without all the risk and hassle" of holding it yourself, is going to get exactly what they deserve.
WOW, just looked thru the 4 pages of posts and nearly every post has 2 down arrows. Are the same 2 douches indiscriminately junking everyone?
P.S. I'm expecting at least 2 down arrows over this post
the shorts are defending 1270 with their lives. 7 bucks tells nothing of the tale. War is on and they are very slowly losing.
Yup, in technical terms (Not that I am a great believer of technical analysis in a manipulated market) once Gold goes through 1270, there is nothing to stop it until resistance in the 1365-1390 range. So if the shorts allow it to go through 1270 they are going to get squezzed by another $100 in short order. And it WILL happen.
It's important to note that this was a drop in eligible stocks. Otherwise known as the "complete fucking fantasy" portion of the gold holdings. I attach non-trivially more credence to the registered stocks (the stocks that are available for physical settlement), and those were basically unchanged today.
The registered stocks number, and the below "intent to deliver" reporting, is where the meat is. Everything else is complete fallacy.
http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsMTDReport.pdf
Note that there are 74K oz on tap so far this month for physical delivery, vs. 375K in total stocks. That's the part that's causing them to shit their pants, because that's the actual gold leaving, probably forever.
Now, if the delivery notices tonight show a big move, that would be something interesting. They usually run this around 8 pm EST.
http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsMTDReport.pdf
"Actual" gold leaving JPM involves trucks. The "largest withdrawal ever" from the "world's largest" commercial gold vault is ~11 tons which "could" be loaded into a single (heavy) cash in transit truck, but more reasonably would be transported in TWO TRUCKLOADS.
That nobody has "ever" pried more than two truckloads of the precious out of the Crimex at once tells me not to trust their damn spreadsheets.
BTW, if not JPM, who got stiffed with the Kyle Bass/UTX delivery ticket (which was more than 2 truckloads) because if it was was S/M (the current custodian) then there weren't necessarily any trucks involved in actually moving the 6,000+ bars and UTX delivery is all .xls BS...
321,500 oz sounds awfully like 10 metric tonnes to me.... Not 11
I hereby call it 10 tonne Friday
I specifically wan't using metric tons since GVWR in imperial tons would be used to calculate capacities in NYC for transport from JPMs conveniently co-located facility, whereas metric tons are used in London (as well as most other places, that have "declared" gold supplies of less than 5,000 tons).
Big Bankster/Broker CEO's taking their Increased Bonus in Physical...don't ya think
...aaaaaand....
Its gone!
I did my part to sink the Goy Boy today.
"if you don't hold it......"
Hey Scotia, it's JP, Yellen said give us your gold
all the western banks are linked like a barrel of monkeys. FUCK monkeys, that is.
Chinese..Japanese...dirty knees...gimme your shinies
About time to break out the "silver is an industrial metal" meme again.
GV
silver is (just) an industrial metal. It was last used as a monetary metal in 1935 when China gave up on it. No central bank owns any nor does it have a role in future reserves as far as I can tell. Gold has been selected. It is a far better choice because with new sputtering techniques the world's industrial need for gold can be satisfied with about 10 tons annually. Silver makes a lousy choice because hoarding an industrial metal harms users.
You can stay in silver but if there is a reset do not be disappointed when gold rises and silver sinks....you've been advised.
Last used as a monetary metal in the US in 1964.
"Silver is much to valuable to be used as money."
..........Lyndon Baines Johnson 1965
Thanks for the advice. But I adhere to my own knowledge and not your lack of.
Silver will go 1:2 ratio to gold and hold. It will be the best investment, second only to your salvation in Christ, in the history of humanity.
"""In January of 1919, one ounce of silver was worth approximately 12 Deutsche Marks. By the end of 1923, one ounce of silver was worth 543,750,000,000 Deutsche marks."""
Gold and Silver will rise together, as they always do. Both are monetary metals.
http://www.silverdoctors.com/chart-of-the-day-deutsche-mark-silver-durin...
It's back down to 15. 15 EURos.
Seems to me that you buy & sell this "precious commodity" as the opportunities present themselves. If it's not a Reserve Currency, it's just a fancy commodity -- open to speculation and manipulation like anything else.
p.s. Silver bullets do not kill werewolves or vampires. Just regular wolves and banking vampires. But use lead. It's cheaper.
Silver was used in U.S. coins up until the mid-1970's. All half dollars contained at least 40% silver through 1970. Some of Ike's silver dollars contained 40% silver through 1976.
Canada included silver in their coins through 1968.
While gold might get the largest benefit should some type of reset happen remember the old phrase about Silver. Silver is Gold's stubborn little sister. She will watch her older brother gold trot down the road and refuse to budge but at some point she will start running to catch up.
This phrase has been true since the beginning of time and don't think it will all of a sudden change this year. Sure by putting emphasis on gold it could delay silver some but sooner or later, the little sister will catch because that's just the way things have always worked just like the seasons turning from summer to fall. It won't change because a few rich people in board rooms want it to change. All they can do is delay the inevitable.
Right, just an indusrial commodity.
BTW, if you have any at current prices, I would be interested in buying.
Too bad about the pre-1964 US silver coins i lost in the boating accident.
The Cental Bank of DoChenCentralBearing has never had any withdrawal of its gold.
Could someone please explain why Germany would be foolish enough to have that much gold in the US?
historic reasons - cold war
Keeping it away from the Soviet menace.
Thanks.
I guess they didn't count on getting carpet bombed by the US financial arms race.
First off there is a common misconception about "Germany's Gold".
First Germany had very little Gold at the end of World War II. Thier economy was totally wrecked. They were Financially Depleted and had no ability to wage War. They could no longer Trade with Neutral Nations for needed imports because of the lack of Gold. German Submarines filled with Gold were sunk.
Do you really think that World Trade completely stopped with World War II? Germany was involved with Trade and payment was due in Gold. Imports just became exceedingly expensive. Franco's Spain was an important trading partner of Wartime Germany.
The United States, on the other hand, had held a vast reserve of Gold due to the public seizure of Gold in March, 1933.
Because of America's vast Gold Reserves and the fact of the stability of the United States Government the Allies met at Bretton Woods in 1944 and designed the Post War Economy.
During the time of the rebuilding of Germany and the collapse of the Bretton Woods system by August 15, 1971, Germany ran Trade Surpluses with the United States. The United States, during this time, settled thier Trade Deficits with Germany in Gold.
Most of the German Owned Gold was NEVER ON GERMAN SOIL. A Bookkeeping Entry was made that a Transfer of Gold had been made from American Reserves to the German Reserves. Of course after August 15, 1971, those transfers stopped as Dollars were not longer convertable to Gold. But Germany never took Delivery.
Now you can read about this in Sutton's, "War on Gold", published in 1978. I wish that this book was available in a pdf Format online as it has been out of print for many years.
Germany never had possession of most of thier Gold as it was kept in the United States for "safety".
The US had a load of gold on hand after WWII because they demanded payment for armaments in gold - deplpeting British and French stocks. The US also volunteered to hold gold reverves for various nations - keeping it in 'protective custody' away from the Germans or Japanese. Rumors of major scams being pulled on some governments - like the Chinese - where the US postwar claimed the paper receipts were 'counterfeit' or fraudulent.
Of course there are also rumors of the US recovering gold stolen by the Germans and Japanese and conveniently forgetting to inform the countrties it was looted from. Yamashita's treasure in the Philippines was reported to be immense - gold and silver looted from Vhina, Korea, Malaysia and elsewhere.... but that supposedly went straight to the CIA for use in black ops - was never acknowledged to be in US possession.
Very good synopsis TT.
Accurate
Given that they lost the war and we occupied their country, there wasn't a whole lot they could do about us taking their gold for "safekeeping".
Actually the "reparation" gold was repatriated (although the Greeks still want MOAR) and that's a separate issue from the much larger accumulation of trade (export) surpluses in gold bullion during the 1950's and 1960's, that gold was actually never in Germany to begin with.
The issue of why Germany left its gold in NY (as opposed to moving it to London or Frankfurt) after Nixon closed the gold window is more "suspicious" - particularly since there was no Crimex contract trade back in the USSA back then, so if they were actually concerned about "exchanging" the gold for someone else's crappy fiat, then London would have been a superior location choice. Any Cold War scenario that would have entailed the loss of London would have also made the physical location of the BuBa gold irrelevant due to the implied nuclear holocaust.
a nuke in the city would wipe out some debts, wouldn't it?
They would have been smarter if they had kept it away from der Juden.
Maybe some of it was stolen from the Juden in the first place ?
"It's tradition"
There's speculation that keeping it in the US was one of the terms of a secret post-war deal. Who the hell knows anything at this point.
It is recorded history. The Wartime German Gold Reserves were depleted. Payment for trade was due in Gold. Even Switzerland, a neutral Nation, brokered many of these trades for resources.
German Trade with Brazil, Argentina and Spain is well documented. Payment for Goods and Services was due in Gold. No Neutral Nation accepted the payment in the promise of the Reischmark. German Gold Reserves were depleted by the time that World War II had come to a close.
Germany obtained the Gold which was stored in the United States FROM THE UNITED STATES. It never saw German Soil. We ran up large Trade Deficits with Post War Germany up until the DEFAULT of Bretton Woods on August 15, 1971. These annual Trade Deficits were satisfied by transfering Gold from US Reserves to German Reserves as a BOOKKEEPING ENTRY.
Most German Gold was NEVER on German Soil. It belonged to the Private American Citizen and was seized in March, 1833, by FDR.
Nobody knows the fucking History.
But the History is there if you choose to read about it.
"War on Gold", Sutton, 1978, is a really good book and a must read.
"Nobody knows the fucking History."
Ha ha...I didn't know...that's why I asked. There are plenty of smart commenters here, so I figured I'd learn something.
Then, on the other hand, there is a fucking retard that made the effort to junk every single comment in the thresd.
(As always, no offense intended for regular, decent retards)
Yeah. I just noticed that too. Most comments are junked with one notable exception. I made a comment about that too near the end of the thread.
Actually, they're saying they did deliver 10 tonnes somewhere to someone, who wasn't affiliated with COMEX. It's GONE!
you can see from the cahrt that they've been buying a lot recently though, and the same it true with silver. This guy keeps up a pretty good running tab at the CRIMEX, and this was actually something he had predicted. It'll be interesting how this tallies with his computations.
http://harveyorgan.blogspot.com/
I believe it's:
"World war three".
South China sea Blitz Krieg.
Truly, hindsight is 20/20. What will we be able to say in 3 or 4 years? We all saw this big, black, ugly 'situation' coming and nobody knew what to do......buy gold....guns.....whatever. And yet no one was able to stop it. Because 'their' plan was better than our much delayed reaction. End of story. Blame us; dumb shits.
Years ?
Quarters or months from my reading of the situation.
TPTB are not going to let all the gold go.They maybe evil, they
are not insane.
You're assuming that TPTB is still residing in the United States/London, and that the gold now going to Singapore/HK/China via Swiss intermediaries isn't firmly in their control.
Consider the scenario where they are not only long gone from the States/London, but have also built their empire overseas. They aren't letting anything go, they're transferring our sovereign wealth away from here, at a truly astonishing rate.
Nailed it. It is always good to remember that TPTB hold no allegiance to any country (with the possible exception of Switzerland which has served them well as their hoarding ground). They are 'globalists' and 'international' in every sense.
I concur. The final phase of the international economic model is being implemented in the eastern world. The pimps and their whores have found a new brothel to spread their filth and disease.
Napolean...
Huh! You have to add Israel along with Switzerland. Somewhere for a certain class of criminals to run to and not have to worry about being extradited.
Agree on the no national allegiance. But the Chinese and all Asians were seriously abused by western European powers plus the US from the 1800's onward. The Opium trade wrecked China. China was seriously abused by Japan from 1905 - 1945. Can't see the Chinese laying down for a new generation of Anglo "master of the universe" colonialists to simply shift their home base from London/New York to Shanghai and carrying on business as usual. Why do the Chinese need George Soros, the Rothschild gang, Jamie Dimon, ad nauseum after a big reset ?
Kaboom!!! (its the same in any language)
seems like everyone was on the same page on that one.
- Hu fuk a dup
-eine Lieferung versagen
i went to a translation site. Your German is correct. The Chinese translation was not repeatable on a public forum.
.
Chinese: fei zhu liu de fa ke you ju hua can (non-mainstream French-Croatian squid broken chrysanthemum)
German: schmerzlich Arschficken
ho li fuk
That's because Germany wants all of it's gold.
What Gold?
What is gold?
And WHOSE vault, again? China bought JPMorgan's vault last year.
They only bought half the vault, the other half is still owned by FRBNY.
True, only half the vault is JPM. The other half is the FRBNY aux or auxiliary vault, with the infamous tunnel in between. Auxiliary as in near the main vault, just across the road under the street at 1 Chase Plaza...
Who's on first?
I think I have some gold in my World of Warcraft account. Does that count? Same as the Comex right?
Yes in fact you can use that gold to issue paper contracts all day long... it's actually a lot 'realer' than JPM's
Things are going to get very interesting in 2014:
The Coming Economic Collapse Will Be Far Worse Than Most Realizehttp://srsroccoreport.com/the-coming-economic-collapse-will-be-far-worse...
I've said it many times, our current monetary system is a ponzi scheme. You need not totally take away the fuel (oil) for continued exponential growth, you just need to stop growing the supply (or even slow down the rate of growth enough) for it to go wrong. And what happens when ponzis stop growing? All the wealth goes to the top of the pyramid, then the pyramid comes crashing down. Income inequality, distruction of the middle class, part time jobs only, QE and ZIRP, it's all the sound of wealth whooshing to the top of the pyramid.
I take it you pay attention to Joseph Tainter?
Thanks for the link. Great read.
I heard Dent on Coast to Coast also. I couldn't help but thinking how irresponsible it was for Noory to let this guy mislead milions of listeners. I actually have a hard time listening to Noory. He is completely two-faced and clueless about almost everything and just agrees with anything his guests have to say.
I never miss a show with John B. Wells as the host. He seems really genuine and knowledgable and doesn't pander to his guests
While I do not agree with Harry Dent everyone has a forecast. Peter Schiff and Harry Dent had a debate. They have divergent views. You may find the results interesting.
https://www.youtube.com/watch?v=27q-rKPZMn0
It was rather amicable.
What does your Crystal Ball say? Mine is rather broken. I need a new one. (Yet I believe that we are going toward Hyperinflation. Do you?)
Also the German version of the SEC is firing shots across the gold cartel's bow. Should start getting interesting. Maybe the Germans will invade Switzerland to arrest those working at the BIS.
"If you want your gold, you can keep your gold"
"You didn't build that [inventory]."
"You didn't mine that gold."
Maybe so, but I took that shit;)
"If you like your gold, we can keep your gold."
Fixed.
"If we like your gold, we take your gold."
More fixed.
If you take my Gold you will not like my Copper Jacketed Lead.
Does this mean we can finally start blaming JPM for all of Germany's problems? Hell, it worked for the Nazis, why not us?
cmon even the braind-dead zombie sheep can see banks are going to fail mid may -june.
Banks are dangerous , don't be a bag holder and have any of your wealth tied up in banks.....people should begin quietly withdrawing everything.
Could you please specify in detail, why you pick that time span? Interested, though most of my holdings are not in a bank. Thanks!
Finishing at the low on a Friday isn't a good harbinger for Monday. What will the Fed do about this "emerging market" problem? Increase purchases to 200B per month? We already know from the simple fact that this is occurring that throwing made up money at the problem doesn't fix the problem. In the end analysis, IT IS THE PROBLEM!!!!
Maybe the Fed could buy up the margin calls coming.
When Yellen prints $200 bn and the market keeps falling....that's when you know there's no coming back.
Hi Germany!
Herzliche velkommenn, heim ins Reich! Und vere ist der odder 96 perzent of vat ve asked vor?
im Arsch
Verjubelt, verspielt, verpisst, verkauft und verschwunden. Also... Gestohlen. Weg.
Und... Tschuess!
It is starting...
Dammit, I really could have used another month of stacking time.
I think you'll still have plenty of time. I don't think it's coming apart just yet. I think this is gonna be a long, slow decline. The key to keeping the frogs in the pot is to slow boil them. Not drop them into boiling water
Maybe, maybe not. We'll see...soon enough.
no problem ... we'll print some more gold
A new way to hold gold.
"They" are printing gold too. And, its real gold.
But they aren not "them". Thems is us.
Oh Sorry guys...I hit the sell button....won't happen again.
I don't know how much longer they can keep this game up before something seriously breaks. I've been thinking that for years though. But this does seem like we're getting close.
The only thing we know for sure is it will happen on a Friday after close.
I just wish I had more cash to deploy into the heavy metal.
The only thing I know for sure is
"This too, will change."
Ancient foomanchu proverb.
"Don't squat with your spurs on."
Arizona proverb.
I predict on an early Sunday morn (Saturday night after last call).
I predict drunkness tonight.
As I have read the articles about malls and store closings....and I haven't visited a mall in many years, I wanted to see for myself what is actually going on......so while I am out of town on business I decided to make a trip to the local midwester town mall to take a look.
What did I find you ask? I was in SHOCK to see that their was almost no one in the mall. I would easily estimate the entire mall had 200 people (including workers). I would say about 30 people were in the mall only to walk and stay out of the weather.
As I each each store, the employees at the counter greeted me as if I was a stranger from the post Apocalytic desert and it gave them a glimmer of 'hope'. I also noted that no one was buying anything. There were no people with bags from purchases. Mainly 'shoppers' but no buyers. I walked in sears and half of the store was barricaded off (cutting its floor space by 1/3). As I walked around I felt like I was at and old friends funeral (because I know most of these stores will not be around in a few years and I probably will not set foot in them again)......these were common places of my youth. Not any longer.
I have known the decline has been coming for years....I think it is upon us. Monetary wizardry will not take us to the next level. We are doomed on this current path. What else did I notice? All the eateries around the mall were full up at 7pm on a Friday night. They were empty by 8pm. They wostly empty on Wednesday and Thursday as well. What to take from this? The wives want at least one night a week 'out' and this is what they get....
Forward USSA!!
Hell, sarge, I've thought I was close hundreds of times over the years. Didn't evev git my finger wet. Keep your powder dry.
RICO all banksters and make Hollywood and the NFL commissinoner pay taxes. Non-profit my a$$.
My sarge used to say, "Don't believe anything you hear and only half of what you see".
In what way was it tied?
Ouch! Guess they shouldn't have been selling the paper short so hard, and since it didn't go back to any other COMEX bank, and the trend to zero holdings is solidly intact, we can assume it's pretty much gone forever.
Maybe JPM is just rehypothecating some of that German gold they have leased out, for another lessor, that borrowed it on the fly from another hypothecator?
Maybe Jamie said, "I want my raise in gold, not wothless paper".
Hope that bastard Dimon goes down!
Off the lows, Bitchez....no wait
So take your gold NOW out of JPM people.....NOW ....Bust these bitches
You hold you own it!! Even corrupt fucking global cabal knows it!!
321500 XACTLY 10 TONS...
but JPM is small fry
GLD is where the gold is.It is held by HSBC and affiliated banks and partners from JPM to Brinks. THEY possess physical and as of today they have 790 tons. BUT...they had 1350 tons a year ago.
Forget Comex and JPM, their inventories are nothing. In a pinch they can sell GLD and get physical...until they can't...and that friends is when things will get very interesting. ...unless someone panics and decides they should get out first....and then THAT will be when things will get interesting...unless there is a secret agreement for getting China gold (to avoid war when we screw them by defaulting on the 13.$T we owe them) and when that is announced is when things could get interesting...unless.....
you get it...things are about to get interesting. At the present rate the system goes down in 18.5 months....unless...
They have 790 tons because they say they have 790 tons? They ain't got shit (only chit) for gold. Gold was gone last April. If they had more real gold - they could have and would have knocked the price even lower.
GLD publishes a bar list. Believe them or don't. When the gold stops flowing...is when it gets interesting. Even if the have MORE...if the right people don't get theirs when they should it means big trouble.
I know one thing for sure, every Gov't and Org in the gold game has every reason to lie about how much gold they have. There is a reason the Fed and Fort Knox gold has not been audited.
When deliveries are unmet is when the SHTF, and I'm betting that's sooner rather than later.
Gold custody is very loosey-goosey under GLD. I wouldn't be so sure about what they have in actual physical in possession (asopposed to the promise of some sub-sub custodian.
That's assuming the reported holdings out of GLD are anywhere near the truth, which some have questioned!
That was E Erian pulling his physical because was getting ready to head for his bunker.
It's a barbarous relic until someone wants theirs back...
It's a barbarous relic until you realize that the financial system is run by psychopaths that make 'barbarous' seem nicely civilized. Which is more barbaric? The quaintness of digging gold out of the ground, just to bury again in vaults, or the gallactic hubris of $1 Quadrillion in derrivatives. Stay tuned.
Germany wont ever, ever get back the gold it deposited. It may get some gold, but it will not be the same gold... and may have a chocolate center... it will certainly not be of Ivory soap purity level.
Who the fuck has Libya's gold?
Or Iraq's? Or Afghanistan's?
You'd think that Simon Black would know, having served in 'Army Intel' in Iraq. Simon?
Zast vood be tayreeeble!
JP Moregone
MotherSmuckers that's funny!
Meh
Crunch time - long overdue
The withdrawn gold was in kilobars. The stuff that is mostly traded in china.
The Chinese should tell JPM then can't see their gold but can have it back in 7yrs LMFAO
Over the sound of brooms sweeping up the last of the gold dust in the JPM vaullt, a somber voice calls out over the loudspeaker,"don't forget to sweep up the remains of Mr. Dimon and Ms. Masters into the dustpan before you go to the dumpster please...Thank you."
Sure is a lot of movement for a metal not backed by anything