JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever

Tyler Durden's picture

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gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn - keep that date in mind for a few minutes)?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 withdrawals 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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Say What Again's picture

How do you say "fail to deliver" in Chinese, and German?

BaBaBouy's picture

BYE BYE Physical GOLDie BYE BYE ...

 

Kisses AND See You In CHINA ...

Chuck Norris's picture

Me Chinese, me play joke, me put Tungsten in your gold

dwayne elizando's picture

Hey Scotia, it's JP, Yellen said give us your gold!

BaBaBouy's picture

AND Ooooops

Traurig  German's, No GOLD For You.

Maybe Some Next Year???

boogerbently's picture

Yet ANOTHER "buying opportunity".........right?

BaBaBouy's picture

Meanwhile...... GOLD Is Up A Measly $7 Fucking Paper Fiats Today...

Da Manip Bullshit Continues...

James_Cole's picture

jp morgue be buyin some gold. 

philipat's picture

Confucious he say "If you are still in paper Gold, you are in Wong Fook Hin place".

TeamDepends's picture

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.

SoilMyselfRotten's picture

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

RealityCheque's picture

the shorts are defending 1270 with their lives. 7 bucks tells nothing of the tale. War is on and they are very slowly losing.

philipat's picture

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.

Panafrican Funktron Robot's picture

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.

 

Panafrican Funktron Robot's picture

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

 

Urban Redneck's picture

"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...

Cacete de Ouro's picture

321,500 oz sounds awfully like 10 metric tonnes to me.... Not 11

I hereby call it 10 tonne Friday

Urban Redneck's picture

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).

topshelfstuff's picture

Big Bankster/Broker CEO's taking their Increased Bonus in Physical...don't ya think

OutLookingIn's picture

...aaaaaand....

Its gone!

WillyGroper's picture

I did my part to sink the Goy Boy today.

CheapBastard's picture

"if you don't hold it......"

caShOnlY's picture

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. 

 

Mr Pink's picture

Chinese..Japanese...dirty knees...gimme your shinies

Gringo Viejo's picture

About time to break out the "silver is an industrial metal" meme again.

lasvegaspersona's picture

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.

Gringo Viejo's picture

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.

Ag Tex's picture

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.

JLee2027's picture

"""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...



Kirk2NCC1701's picture

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.

HungryPorkChop's picture

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. 

raeb's picture

Right, just an indusrial commodity.  

 

BTW, if you have any at current prices, I would be interested in buying.

BidnessMan's picture

Too bad about the pre-1964 US silver coins i lost in the boating accident.

DoChenRollingBearing's picture

The Cental Bank of DoChenCentralBearing has never had any withdrawal of its gold.

chunga's picture

Could someone please explain why Germany would be foolish enough to have that much gold in the US?

Fuh Querada's picture

historic reasons - cold war

ShorTed's picture

Keeping it away from the Soviet menace.

chunga's picture

Thanks.

I guess they didn't count on getting carpet bombed by the US financial arms race.

Tall Tom's picture

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".

cynicalskeptic's picture

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.

Deacon Frost's picture

Very good synopsis TT.

Accurate

TheMeatTrapper's picture

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".

Urban Redneck's picture

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.

Scarlett's picture

a nuke in the city would wipe out some debts, wouldn't it?

Herodotus's picture

They would have been smarter if they had kept it away from der Juden.