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Something Just Snapped At The Comex (Updated)
Update: Earlier today, we said that we would "keep a close eye on today's Comex update to see if JPM reverses this "adjustment" and adds at least a few more tons of deliverable gold to its vault." Moments ago we got the daily update form the Comex and not only did JPM not reverse its registered to eligible adjustment, but more curiously, the second largest vault, that of Scotia Mocatta (behind only HSBC) saw a comparable adjustment, whereby 16,644 ounces of gold, or about half a ton, and 14% of its vault total, were adjusted away from "registered" and into the "eliglble" category.
This means that the already record low total registered holding across the Comex system, declined once again this time by 8.3% and hit a new all time low of 185,315, or less than 6 tons.
This means that what was already a record dilution factor, with over 200 ounces of paper gold claims for every ounce of deliverable gold, just soared even more, and following today's 8% drop, there is now a unprecedented 228 ounces of paper claims for every ounce of deliverable "registered" gold.
For those who missed the full story from earlier today, please read on.
* * *
Just over one month ago, when looking at the latest changes in registered gold held at the Comex ,we were stunned not only by the collapse in this series to a record low of just over 350k ounces or barely over 10 tons, but also by the surge in "gold coverage", or the amount of paper gold claims on physical gold, which exploded to a record high 124 per ounce.
This is what we said on August 3:
While on its own, gold open interest - which merely represents the total potential claims on gold if exercised - is hardly exciting, as we have shown previously it has to be observed in conjunction with the physical gold that "backs" such potential delivery requests, also known as the "coverage ratio" of deliverable gold.
It is here that things get a little out of hand, because as the chart below shows, all else equal, the 43.5 million ounces of gold open interest and the record low 351,519 ounces of registered gold imply that as of Friday's close there was a whopping 123.8 ounces in potential paper claims to every ounces of physical gold.
This is an all time record high, and surpasses the previous period record seen in January 2014 following the JPM gold vault liquidation.
Another way of stating this unprecedented ratio is that the dilution ratio between physical gold and paper gold has hit a record low 0.8%. Indicatively, the average paper-to-physical coverage ratio since January 1, 2000 is a "modest" 19.1x. As of Friday it had soared to more than 6 times greater.
One month ago we showed this record surge in gold claims as follows:
But if last month was shocking, then what the COMEX revealed yesterday was absolutely jaw-dropping.
Here is the most recent update provided by the CME on eligible and registered gold.
What it reveals is that while JPM saw another 90,000 ounces of gold once again withdrawn from its vault, this time in the eligible category, for some reason a whopping 121,124 ounces of registered gold were reclassified as eligible. In doing so, JPM's registered gold (red line in chart below) tumbled to a record low of just 19,718 ounces - an 86% collapse in just one day - and well under 1 ton of gold, some 600 kilos of physical gold available to meet delivery requests to be specific!
JPM's dramatic adjustment also meant that total Comex registered gold has likewise tumbled to the lowest in history of just 202,054 ounces - just over 6 tons - available for delivery.
Zooming in only on the registered gold since 2014:
Not surprisingly, the latest collapse in registered gold took place while the gold open interest remained flat, and in fact has been modestly rising in the past year as seen below:
Which brings us to the punchline chart: the Comex gold "coverage" ratio, or the amount of paper claims for every ounce of physical. As of Friday this number was literally off the chart (it would not have fit on the previous chart shown up top), soaring to a mindblowing 207 ounces of paper gold claims for every ounce of deliverable gold. This also means that the dilution ratio between physical gold and paper gold has hit a new all-time low of just 0.48%!
And while we know what caused this epic surge in potential claims on gold - namely the relentless outflow in registered gold - what we don't know is whether this is a systemic event, one which threatens the next Comex gold delivery request with an "insufficient product" response, and a potential default, or simply a one day abnormality.
What we do know is that, if only for one day, something at the Comex has snapped.
We will keep a close eye on today's Comex update to see if JPM reverses this "adjustment" and adds at least a few more tons of deliverable gold to its vault, and if not, perhaps a phone call or two may be in order.
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They are just waiting for that WWII German gold to come off the train in Poland.....300 tons they say....
And no silver ;)
There is nothing on that train but guns and ammo. There is no evidence of anything. Just wishful thinking. All they have a radar image that looks like a train with cannons.
The only thing that snapped at the COMEX is that the idiot who is responsible for falsifying data is watching porn videos instead.
Hey, I know what's going on with the gold price!!!!! All us sane folks are now buying only physical gold and silver... leaving nobody to go long gold or silver on COMEX, but all the manipulators still shorting.
In other words, there are no more of us stupid enough to place paper calls any more, so even a single short will drop the price to zero. Great! Time to load up on physical. This is great!
Wish I was entirely serious... but... hmmmm. Maybe... ???
With the premiums as they are, better git er' dun!
A very bixarre trend has occurred and only a few of us have noticed.
When Venezuela demanded it's gold back-the price dropped two hundred dollars. This occurred in 2011. When Germany demanded its gold back- the price of gold dropped again- this time by 400 dollars an oz. Since then other countries have taken possession of gold and other countries have ramped up their buying- i.e. India and China.
The only theory that makes sense- given the laws of supply and demand- is that there is collusion on a grand scale by the bullion banks and those who fix the price. As they are forced to return gold to it's rightful owners, they simply drive the price down and buy physical gold as cheaply as they can.
They have been operating in a ZIRP driven- screw savers- deflating economy with a strong dollar which has helped them immensely. It has been the perfect anti gold storm whether they created it or not. I don't believe in coincidence.
Later this year, I still believe gold will be driven to it's multi year low of 1030. This will close the 40 dollar gap at multi year lows- and this will be the last opportunity to lick the blood off the streets in regard to the gold price and the gold mining stocks which will have garage sale pricing.
The only theory that makes sense- given the laws of supply and demand- is that there is collusion on a grand scale by the bullion banks and those who fix the price.
You think???
How about you guys fix your fucking typos....
"paper claims to every ounces of physical gold."
What is this Engrish class?
I bet you blow a blood vessel everytime you shit...
Thrombotic Evacuation Syndrome
Yeah! This is the INTERNET dammit! Speak English!!!!
Once the paper ratio gets to 130X to 1 oz physical...is 200X to 1 even matter? Is anything over 5X matter when the SHTF?
All these charts show is that there is currently a lot of money being speculated on the gold price.
Please bear in mind that away from futures, it isn't particularly easy to short gold,
and even though the longs do have alternatives futures have very cheap admin costs.
The charts say _nothing whatsoever_ about the creditworthiness of Comex or any of the participants.
Frankly, I don't quite see the obsession with the gold price.
Gold did a bubble, then bust, but the last _major_ buyers were the central banks who do not face the market
discipline of stop-loss limits.
So they can sit on their losses; most other participants would have been sold out long ago.
So gold prices are probably too high - a bust usually does 2/3 from the high, which is about USD 600.
Maybe this is why gold shows a premium to Pt?
Poor old Ag is 50% off the high...
Watson
All parabolas end badly.
Any historic models to show what happens when you have a ratio of 207 debtors for every 1 seller?
100 to 1?
10 to 1?
Yes. 206 out of 207 people get screwed.
With the 1% or .1% getting the whole damn enchalada.
Who was that guy who appeared in the media ONE TIME who said they've discovered a gold deposit in the Grand Canyon so large, that it rivals the entire supply in the world. He claims they decided to shut it down and install a military base right over top of it. Nobody knows shit about the real world supplies mined and unmined. I'm holding silver, hoping to grab my triple and buy a farm home in Costa Rica. Watching this stuff is painful, every time all the spinners point to a massive spike, the money printers pull another rabbit out of the hat and hold it down.
I hope we can just redeem this stuff someday, grab a small windfall and retire. I don't want to be trading beans and bullets for silver, just a nudge please.
The nudge you seek could well happen before 2017. It's going to depend on where the Black Swans circling overhead, crapping on almost everything and forming a near-eclipse, decide to land, especially the specific ORDER in which they land could be the unforeseen trigger.
At least for now, consider the price risk is very minimal. For silver, it's less to buy than produce, and current issues at the COMEX in gold shall carry over to silver in due course. I lose no sleep whatsoever in the Ag Phyzz I bought over the last decade or so. It may not wind up being a Wealth Transfer as many say, but the means to buy, without fiat being involved, what needs to be bought after the Great Reset takes place.
check out nicaragua. still cheap 2nd safest latin american country. a little over 5 million people in the whole country.
Not to worry....
....the vaults of JPM Moron have been filled this afternoon with a special phyz delivery of the BOE via "The Drain", the appropriate nickname of the City Waterloo undergound line which runs between Waterloo and Bank but which *by coincidence* (**cough, cough**) runs past the vaults of 60 Victoria Embankment, London at 18 meter depth (or was it debt?). Only to return to the BOE tomorrow morning....smoke and Mirrors.
https://pbs.twimg.com/media/COeW_0rWoAAdm-4.png
somewhere there is some banker who gets his weekly reports thinking that there is not very much gold in his vaults anymore....and has to be sweating...and telling his golf buddies what is going on...and those guys are checking up on their stash
Can someone please dumb-down this story for me so that I can understand it?
Sorry, I went to public schools.
It’s fancy talk for manipulation.
Tyler noticed a ratio at the Comex that has never been seen before, and is totally meaningless...
until it means something.
A Problem at the COMEX???
Quick! Someone call Captain Unactionable Faggot Wild Hair!!! He'll save us!!!
-Ted Butler
Just shut up and.prepare
Quick, invade another country and steal their Gold!!!
that's what all the hubbub in syria is about - now that turkey is imploding perhaps our nazis will try to sneak in and take theirs too
I've never had much money. Over the years I've accumulated a small stack. I'm still well into the green on price, but I didn't buy it to sell; or at least not to sell for present-day FRNs. I bought because if all hell broke loose with FRNs, I'd have something to exchange for something I needed. And if nothing happened, I could trade it back for FRNs. Or not.
I think most people dealing in paper gold are only trying to trade, and they don't care about or want the phyzz. The prices aren't really related to phyzz; it's all about the paper. At that point, it all becomes completely abstract and at times quite esoteric. It really is a vote of confidence (or non-confidence) in a wide range of factors, gold itself being the least of it.
I imagine if there is a COMEX crisis, most of the traders involved would be happy to be paid off in FRNs or GLD paper. They would then try to trade that paper for some other paper. Meanwhile, of course, the measurement index of that paper, the FRN, would be flailing wildly, and most people would evaluate their success or failure on how few or how many FRNs they come out with at the end. That those FRNs stacked to the moon might not buy a loaf of bread doesn't seem to enter into their thinking. Normalcy bias is very powerful, and people tend not to be able to conceive that something they've always considered dependable and valuable, like FRNs, might change in that regard.
If I were trying to trade PMs I'd have bailed on it a long time ago. But I view the world with guarded pessimism. I like having all my surprises be happy surprises. And if I lose FRNs on my PMs bought as insurance, that would be a happy surprise. Because if my AU goes to $50k/oz., and my AG goes to $1k/oz., I'll have much larger problems to deal with, or at least everyone else around me will and that will become my problem in some way.
I'm running a "Get Rich Slow" scheme. Not having any debt at all is key. Having some FRNs stashed away in a waterproof enclosure at the bottom of the lake with my PMs, near the wreckage of my boat from that fateful day, is similar to my having insurance on my home. I'd love to lose money on the deal; that would mean everything else I'm dealing with is both hunky and dory.
Peter Schiff just posted a sale on silver with an OUTRAGEOUS 20% premium over spot ($2.95+$14.70) plus insurance and shipping unless you buy 500 ounces or more. Twenty percent mark up on volume bullion is just too much vig - on any commodity. At this rate, you're better off establishing a relationship with a local, long-time operating coin shop. There, you know retail when you see it and can negotiate wholesale prices.
Absolutely.
It's even worse (higher premium) at some other places, and it definitely doesn't surprise me. The latest USAWatchdog video has Greg interviewing David M. and he discusses that very point. You may have to refresh the browser once to get the latest screen.
In regard to coin shops who handle bullion, you're correct if you know the people there and they know you. Careful that you don't get too cozy with a single shop! Get to know as many as you can.
1) Your favorite may not have what you need, or of your preference - whereas the second or third might, AND
2) If you buy too much from one shop and it exceeds a particular dollar amount in a year... Well, that generates required nanny-state paperwork with your name and other info on it which likely gets in the hands of TPTB. Knowing the paranoia which reeks from the District of Criminals, that amount is certainly subject to shrinking as the screws get tightened further.. Feel me yet?
There are a couple of reputable online dealers selling gold bars & coins at $10-$20 over spot. Silver bars at 70-80 cents over, shot at 45 cents over.
That's actually a good deal at the moment. Several dealers are paying $2.40 or so over spot for junk silver; Apmex doesn't even have any.
Good thing most people find security in paper gold....
Ummmm. Can't paper gold be settled in paper fiat by the charlatans who have naked sold? Which is why they do it and get away with it by the way.
Yeah, that's interesting. There's no short squeeze, you just get the price of something that's been shorted 220x for every 1. Seems like something someone would want to short over and over. I expect something will give at some point. Shanghai fix?
Like I said weeks ago. Everything tied to central banks paper is worthless. Ths includes gold.
The Elite and others are taking whats left NOW. We are days away from the climax...
the climax is months or years away - the cabal is not that weak yet
Bullshit. See you next Shemitah.
Manipulation never goes away, it just goes underground every now and then....GET used to it....
Who says you cannot make gold? WS does it every day....
WS are the best Alchemists....
Paper covers rock so it should be ok. Now if somebody finds the scissors there is a problem.
That pair of huge scissors belongs to the People's Republic of China who own the AuVacuum(tm). Given time, Yellen will be YELLIN' louder why the Fed doesn't deserve an audit. I strongly suspect the YooEssAay has damn little left and GATA will be vindicated in the strongest of terms. Senator Paul won't need to raise $$ to force the audit issue to O'Bummers desk when millions whose Gravy Train has derailed begin grabbing pots and pans to bang the heads of bank$ters. That, or we see WWIII crank up to take the sheeple's minds off the upcoming collapse.
And paper disproves Spock but Lizard eats paper.
When these idiots are done fu#*%! up the World economy the Lizards may be the only ones left.
geez, at this point why not just let people their wardraft gold on the open market - how is it any less real than 200:1 diluted paper?
The greater fool is the one stuck with worthless paper at the end.
Unless one has reliable inside information, trading these markets is akin to picking up pennies on a incomplete bridge over a canyon, scurrying 1 foot in front of the steamroller working hot asphalt without a parachute.
I am ignorant of much of finance, but I am learning. I fail to comprehend why one would invest in etf gold. Looks like an easy way to have your gold cared for til you decide to pick it up but they can not be so deceived as to believe they will receive anything besides inflated fiat behind an ever downward spiraling price. Asides from being on the inside, where is the attraction? So, pushing down the ETF price relates to lower AU prices which is great for us gb's and China minus the premiums which is just the middle man getting paid for his risk. They are rising but not that much. Someone has to be losing scads of cash on etfs year after year. Who are the etf muppets? (I am sure it is me as I can't spot them)
epic rape of gold bugs ... it's going to get worse before it gets better .
After that it will again get worse
The states are looking through the charts of national gold holdings. Which country out there has enough to cover the comex hole and has at the same time bad press so we can justify an invasion and take the gol... err I mean spread democracy and help the world!
The central bank of Syria beckons, got to get there before IS.
I fear these market manipulations are turning me into Pavlov's dog. Every day when PM prices drop significantly, I begin to salivate and run to my dealer to check prices and buy some more shiny stuff.
Evil bastards!!!
One of the themes that I repeat is that basic structure of the MAD Money As Debt systems demands exponential growth (or else.) Since the public "money" supplies are being made out of nothing as debts, because governments ENFORCE FRAUDS by privately controlled banks, the "price" of everything automatically becomes more and more RIGGED, at exponential rates ... UNTIL ???
As the article above stated, it was only a month ago that it could be reported that the about 100 times had become 124 times.
I REPEAT what I posted under that earlier article:
http://www.zerohedge.com/news/2015-08-03/comex-edge-deliverable-gold-dro...
Such basic 100 to 1 ratios apply pretty well to everything being dominated by fundamentally fraudulent financial accounting systems, that are based upon being able to make the public "money" supply out of nothing, as debts, which can then also disappear back to nothing, when those debts disappear. At the present time, there are no realistic resolutions of those problems other than provoking death insanities, since the ratios of roughly 100 to 1 fictional to physical are otherwise still automatically headed towards becoming 1,000 to 1.
At the present time, it is practically impossible to imagine whatever could be an adequate market "correction" after the runaway triumphs of ENFORCING FRAUDS have already driven the imbalances between the virtual versus the real to go beyond 100 to 1. Ideally, such "corrections" would be based upon understanding human beings and civilization actually existing as general energy systems within their environment, engaged in the entropic pumping of energy flows. HOWEVER, when one does that, one discovers how and why the existing political economy is based upon the principles and methods of organized crime, which now primarily take the form that civilization operates through accounting systems that are based upon governments ENFORCING FRAUDS by privately controlled banks.
That there now appears to be MORE than 100 times as much paper & electronic gold than there is physical gold is a pattern which repeats fractally throughout every other aspect of the political economy based upon runaway triumphant ENFORCED FRAUDS. Furthermore, that is now headed as fast as it can towards attempting to achieve ratios of 1 to 1,000, because the BASIC SYSTEMS are now globalized electronic monkey money frauds, backed by the threat of force from apes with atomic bombs. Since those systems have become billions of times BIGGER than the flesh and blood people who originally made and maintained those systems, the public "money" supply, and everything that fundamental fraudulence pretends to account for, have left behind human beings in the dust ...
The public "money" supply that people use to buy food and fuel, etc., and substances like gold, as an illustrative example, has generally exceeded the physical to the fraudulent to ratios of 1 to 100, and those are automatically headed towards 1 to 1,000 ... and beyond, as long as it continues to be possible to back up electronic frauds with atomic bombs, in ways which are becoming orders of magnitude greater than human beings.
It inside of that overall context that we are watching and wondering about "this latest dramatic face off in the long-running war between paper and physical gold ..." and everything else within a political economy controlled by governments ENFORCING FRAUDS by privately controlled banks, where the death controls that back up the debt controls continue to be able to operate in ways which require the vast majority of people to deliberately ignore THAT as much as possible, and/or deliberately misunderstand that in the most absurdly backward ways possible. Realistic resolutions of those problems require radical changes in the ways that we perceive and operate the murder systems that back up the monetary systems. Nothing less would work. However, meanwhile, we continue to head towards the runaway debt insanities provoking death insanities, inside of contexts where the vast majority of people do not want to understand that money is necessarily measurement backed by murder.
If you say "money backed by murder" one more time I'm coming over there to shoot u. /s
We lost reality and integrity when we went of the GOD standard; the correlation is striking.
MOst appreciated, RM -- great (new) avatar as well. Alan
Thanks, Alananda!
These are no real claims on the physical gold. JPM is controlling the dollar-gold price with derivatives (paper gold) and the counterparty is the BIS and v.v. They will never ask for physical delivery.
http://beurs.com/2015/08/07/is-the-dollar-gold-price-controlled-by-jpm-i...
Nobody hopes you are right more than JPM. But if the Asian countries dump all their US treasurys and demand physical delivery on the contracts... it's big time uh oh time.
The Asians already know what the western fraud is all about. They're just trying to gently break the news to the sheep.
None of it matters until the day that it does. Is today that day?
207 .... is that all .... just wait till it gets to 1,000:1
That might be the case by Friday...
What happens on Friday?
Everybody stands down?
Probably nothing. Over the weekend however... ?
Best guess on when the whole thing comes crashing down ?
Somewhere between tomorrow and December of 2017. However; I do believe Obama will be King/Dictator and that is the plan all along unless the Clinton's pull another dead rabbit out of their sordid hat. Barry Soteros said in 2009 that it "feels good to be King" and recently bragging about being a good President and would be reelected f he could run.
Everything is in place for this to happen, for the last President in office when DHS Martial Law is implemented will be the Dictator. Congress is only there to provide the mild illusion that there exists a U.S. Constitution. I wish the military folks would get a clue & figure out they are being slaughtered for Bankers while abandoning their sworn oath to protect against all enemies foreign and DOMESTIC.
You do realize that the same was said about Bill Clinton and George Bush, do you?
Hey, someday, it may happen, but to say this about every lame-duck president is akin to people proclaiming we're living in "end times" for the past several centuries, if not more. (I haven't been alive that long, so I don't really know how long it's been.)
At this rate, when there is no gold available at all, it will be free.
I'm starting a business selling gold certificate certificates, i.e., a paper claim on a paper claim for gold. You can redeem it for a gold certificate at any time. I'm going to print 123 of them for each gold certificate in the market. Hurry... these aren't going to last... get in on the ground floor. Call me if you're interested.
ZH, are you getting a glimpse of a Gold backed economy?
PM's are a great hedge, but don't forget about Ammo, Food, and Whiskey as well.
My credit cards are fully paid.
When the time comes, I'm going full retard on mini bottles and cartons of smokes.
AMEX will be sending me hourly fraud alerts emails about my card being abused at the liqour store.
Don't forget the sardines, Atlantic not radiated Pacific of course.
If everyone were to apply at the same time and get leverage as the banks do and buy stuff they would never want back; then we could crush this entire system, but with the same immoral behavior, thus we get to the core issue with ALL of U.S..
"History tells us that all Ponzi schemes and market interventions fail. I believe we are on the cusp of a massive failure in the scheme to cover up the truth about the precious metals market."
http://investmentresearchdynamics.com/anyone-who-believes-the-comex-numb...
"I find it it quite interesting that the elitists overseeing this operation on the Comex are willing to advertise the 200:1 paper:gold ratio when they have the means at their disposal to hide that number or to make it look a lot smaller. There’s some kind of message they’re sending to anyone who cares about this sort of thing. It’s either “f*ck you” we’re in control” or “help, we’re in trouble on our paper gold short position.” Or a combination of both. The implications embedded in all three of those possibilities are quite horrifying to contemplate."
http://investmentresearchdynamics.com/the-comex-is-now-a-100-artificial-...
"When everything else fails, start a war…I’ve always said that the U.S. Government would start a World War when it was pushed to the brink of having to disclose the fact that it no longer has any gold and that the U.S. financial and economic system is nothing but one massive Ponzi scheme that rests on an unaccountably enormous maze of derivatives, debt and fraud."
http://investmentresearchdynamics.com/this-may-be-headed-for-world-war-t...
Viagra....
Who's short?
Who controls the Exchange?
Who therefore can move the goal posts as the game is being played?
Sadly, this is a non-event. As others have said they have a rabbit in their hat - cash settlement.
What will make us all sick is they'll spin the cash settlement that's necessary in order to 'protect the integrity of the Exchange'.
Media will report it like the bought and paid for lapfucks they really are.
Some Euro banks have been cash settling for years.
What a bunch of mindless hype for fearful hordes.
It's like adding up all insurance policies that an insurance company has issued, and then claiming some astronomical number/ratio that the particular insurance company will only ever be able to cover 0.5% of it's potential losses, if evey policyholder claims the max on their policy.
Reality is that the vast majority are simply traders and most of them don't even want to take possession, becasue that would mean they would actually have to PAY for the gold. They are traders, not buyers.
I also find comments from gold bugs amusing, becasue they claim that "paper" gold isn't real. Well, it STILL controls the price of the coins you have stashed. Funny how the bugs mainly criticize paper gold when the price is dropping, and not when it's soaring.
Like 'insurance' is any guarantee when you need it.
And do you think gold will be worth anything in a worldwide meltdown?
Gold will be near useless and priced accordingly, as it will be a buyer's market, not a sellers market. Sellers will be trying to trade something useless (gold) for something useful (food, shelter, transportation, security, services).
Who do you think holds the upper hand?
I think you are better off with physical gold, rather than paper GLD of the US dollar when you need to acquire "food, shelter, transportation, security, services" We'll find out -likely very soon. Shemitah - starts Friday -or Monday? I think that may bee when the Jews cash in all their profits.
The person with lead.
Ok I dont like government solutions to market problems but how difficult is it to pass a law against selling more gold than you have? Isn't it some type of fraud to sell soemthing that doesn't exist?
Hypothecation and rehypothecation.
It's the Shemitah. Must be. And, it's on Sunday. Watch out what happens on Friday.
maybe they know something.... all gold must be turned in on monday ...exec order Obamer
I'll keep this is mind when gold trades down to $875
Never mention the British PM from some years ago...
How many zerohedgers are there?
We could buy the remaining gold between us quite easily ????
I have a few ounces -maybe more than Fort Knox.
'
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If anyone dealt dope like this, they'd be dead by the end of the day.
Trust me…
•?•
V-V
I'm probably the only one here that has actually taken physical delivery from Scotia Mocatta facility in the depths of the basement of 26 Broad AND driven into the Maxwell Smart (Get Smart ref) hidden wall of HSBC.
I made a few trips to NYC over the last few years with WDR's in hand and exchange paper for metal. The gold vault workers at 26 Broad told me they've never had a visitor. I presented my WDR's and they came back in a 5 minutes (I had called a day in advance) with gold bars. The trip to HSBC was really cool. Silver 1000 bars are too heavy to carry, so I rented a car. I was guided by armed guards with sub gun's to drive into one of 3 vault doors on the back side of HSBC in NYC. The wall panel on the building is the garage bay door. Nearly invisible unless you are looking for it. Typically used for armored cars, but worked from my rental car. They have a series of gates and locks as you back into the bay. The bars were loaded into the trunk and off I went.
OK I trust you. You must be telling the truth.
When I have time I'll find HSBC vault on google street maps. :) I still have copies of all of the WDR's. Other than that, go fuck yourself. :)
I found the notes on my phone. I've switched phones twice since taking delivery. I might have to boot up the old phone to see if physical address is stored on GPS.
NYC Silver Vault for COMEX
Maria at HSBC was my point of contact 212-525-6434 or 8179. Feel free to call her to verify this is where you pick up your 1000 oz silver bars with WDR warehouse depository receipt. I have her email if you need it. :)
OK I trust you. You must be telling the truth.
Hey, don't dis the man! No-one on ZH would EVER make shit like that up to make themselves look like a "player". . . .
Hum, this is onlysome $222M in USD terms.
Keep on stacking.
http://www.gainesvillecoins.com/
Time to make default the Comex.
When I think the price of Gold called "Gold Spot" is influenced heavily by 6 tons phyzz Future backed in vault and all the rest is paper.
Fucking criminals !
That is great news but I just got slaughtered on spot price. Oh well, I do not care. I have already been to the Harley Stealership today with Mrs.M. That got a little expensive and now I have work to do. I walked off the job today do to lack of respect and because I live 50 miles away and somehow always manage to be the FIRST FUCKER TO SHOW UP. No one was there and I have no key so I drove 50 miles back home. Fuck off You should see what the 28 year old ASSt Supt texted me. He texted me "So you just think that you can do whatever you want?" Yes. I called my decade long friend the Superintendent and he had no idea what was going because he is on vacation. He says I am right but maybe I will not even go tomorrow.
I have known that my daughter has REALLY wanted me to take her to school on my Harley and she is a fifth grader now. I managed to get home in time before the school bus hell train left. I said that we have to change out the spark plugs first and luckily I happened to HAVE A NEW SET ON HAND. Who coulda knode? My daughter did not know what spark plugs were but now she does so she learned something today. My daughter was pretty damned proud to roll up on a bike. That was a HUGE deal to her. I gave the kids a little rap as we rolled up and the new plugs were firing perfectly so the motor was spot on rumble. Daughter loved it and has been talking about it ever since she got home because her friends saw her and that is what she wanted. Even the crossing guards gave me the thumbs up and were smiling as I slowly cruised out.
My daughter wanted that so badly so I needed to be a real man and dad. She is still talking about it. At the stealership I bought Mrs.M a bunch of chrome and leather. Now I have to go wrench on some iron. The leather looks better laying on the floor.
I can't see 20K for a 103CI FatBoy but that is a cool ride. Hell, the stealership wants 9 K for a used 883 Sportster that is not that cool of a bike and has over 8K miles on it. Shit, I have 10K on my 07 stage one screaming eagle sportster. What do you gain after that with buying a new one? All Harleys are heavy iron and those 103 a full retard heavy. I do love them though but not so much the baggers. I won't do a bagger. Bobber and ride it like you stole it and a FI 883 will take ANY of the bikes I saw today.
Well, I will have to tell you all about the "Raycis" 2016 Harley catalog. I have to tell about an MC that I ran into today. But I have to go wrench now for a few hours. MC is a culture and so is ZH. Pretty much the same idea from what I can tell. Chrome is coming in 3,2,1.
News flash dude . . . no-one gives a shit about your toys. Post that crap on FaceCrook - they say you can even add pictures.
How much debt do you have? That is all I need to know. There is more to it then than but you have never posted anything worth reading anyway so go fuck yourself. You don't get it yet do you? A little slow in head section.
You just disgraced yourself here badly. Well done, but let us hope you learn by your mistakes
Great story about your harley and your daughter! Best post I have read today.
There is no amount of money that could possibly bye the day you had with your daughter.
How could you put price on the admiration of your child.
I was taught that money is pieces of paper you trade your time for so that you might spend it on those you love.
Thanks for sharing.
Needed the reality check.
Yes it looks bad.
If it wasn't for the impending 100 tons of Nazi train gold the JPM stormtroopers would even now be preparing to destabilise Kazakhstan and "take into protective custody" their gold reserves.
A very interesting - and timely - discovery, that.
One of those things that make you go "Hmmm..."
Yes it looks bad.
If it wasn't for the impending 100 tons of Nazi train gold the JPM stormtroopers would even now be preparing to destabilise Kazakhstan and "take into protective custody" their gold reserves.
they are blackmailing the U S politicalclass or some such shit. no way anyone in the world would fuck up so badly by accident or on purpose, I mean who benefits if the nation goes full mad max. the scattered remains will be worthless til a generation passes.
they are blackmailing the U S politicalclass or some such shit. no way anyone in the world would fuck up so badly by accident or on purpose, I mean who benefits if the nation goes full mad max. the scattered remains will be worthless til a generation passes.
And it takes how much raw $$$ to manipulate the precious metals trade, compared to the Dow and S and P? Chump change! Wait until it is broken and then the vultures will tax the hell out of real money!!!
Taxing real money may prove problematic. There are millions of ounces of lead to be delivered in such an emergency.
Delivered at high velocity no doubt.
Will give "post paid" a new definiition.
Lets see - in the past few days, I've learned from ZH that China sold $100 billion in US treasuries in just a few weeks, that China's gold holdings increased dramatically last month, and now we learn that the Comex has little remaining in its vaults except little pieces of paper.
I'm sure this is all a coincidence...nothing to see here comrades - go back to watching reruns of The Kardashians.
Well, let's put 2 and 2 together. I get 5.
Anybody else? Winston?
Pffft, wall street can put 2 and 2 together and made 97 in derivatives. You are a rookie.
I always admire the fantastic research and all of the amazing follow up commentary, however, Comex gold is isolated to the specifications for the underlying exchange. So, 100 oz .995 gold in specific deliverable locations that are fungible against speculators that may or may not want to take delivery (called getting stopped when futures turn into receipts after several notice days, etc., is all very exciting, and not the norm, very cash intensive. Normally, as we all well know, these Futures contracts simply get rolled over. But do remember that location swaps do have to be honored, and in that case perhaps, vault movements would be made. Along with various other "plays", these strategies and end user demands do sometimes cloud the issue enormously; not to mention the ETFs.
1. China is sucking up all avail gold at the spot and keeping its own close
2. Never own GLD buy OUNZ security instead
3. Buy domestic gold coins only
4. Be ready for the melt up.
why is ounz more secure than gld?
And why only buy domestic? God is Gold
What would schiff do?
Time to take the COMEX off the gold standard and let the paper flow free and unencumbered...
They already have it it's called Dollar Futures
The other point about gold is that there is a finite amount of it. It cannot be manufactured or re-created in a laboratory.
Paper currency is destroyed over time, and needs to be re-printed. The average 20 pound note last for about 3 years ..
As people, we arbitraritly associate value with 'rare' items. Gold is becomeing rare as new depositories are less common.
The value of gold will only go up. Especially in the market mania.
It would make sense that physical acting as collateral could have been subject to margin calls and be reclassified!!!?????.
Gold seems to drop in price, or not go up at the rate one would expect, during periods of volatility. Those periods are just times when gold changes hand and accounts are settled as the sheep are slaughtered.
Am I wrong?
Hey, I like gold, but if we lift our vision higher there is all kinds of treasure:
https://www.youtube.com/watch?v=voJpo1N_HVo
Don't trust any paper moving around comex.
The underlying asset probably doesn't exist.
Or, has been sold more than your mother at the brothel.
So... Soros can ask for delivery only... and short USD, go long miners... and a few other tricks... and make billions...
Goyim really stupid as cattle (no offense to cattle). In olden days, physical commodity drive future price. Now international kosher syndicates drive real value of physical commodities. We make up pure abstract futures prices based on what benefits kosher tribe. We control all markets. You bring tons of wheat to starving market. We rig future price to be 10% of real value. You sell to us at current market price that we created and you feel grateful to us for buying it. You lose everything you worked for. We buy up all with ledger credit page entry ‘money’ made of thin air. We then manipulate future price to 500% real value. We sell wheat to starving market. Make fortune off goyim hard labor. And goyim thank us. Haha! And goyim still worship us. LOL! Oy vey!!!
You people are so demonically smart. It's almost as if you have the Gods working with you -actually you do -Lucifer -your number one God. But enjoy it since Jesus said his Kingdom was not of this world. It's the next one you should fear - But every now and then the stupid Goyim get fed up and cause your people one hell of a headache - I think we are due for one of those times.
You stupid brainwashed jewdeo-christians will never stand up against jewdom. We control mammon. Therefore we control you. Hahaha!
From our agent Albert Pike, author of Morals and Dogma:
"The Third World War must be fomented by taking advantage of the differences caused by the "agentur" of the "Illuminati" between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. Meanwhile the other nations, once more divided on this issue will be constrained to fight to the point of complete physical, moral, spiritual and economical exhaustion…We shall unleash the Nihilists and the atheists, and we shall provoke a formidable social cataclysm which in all its horror will show clearly to the nations the effect of absolute atheism, origin of savagery and of the most bloody turmoil. Then everywhere, the citizens, obliged to defend themselves against the world minority of revolutionaries, will exterminate those destroyers of civilization, and the multitude, disillusioned with Christianity, whose deistic spirits will from that moment be without compass or direction, anxious for an ideal, but without knowing where to render its adoration, will receive the true light through the universal manifestation of the pure doctrine of Lucifer, brought finally out in the public view. This manifestation will result from the general reactionary movement which will follow the destruction of Christianity and atheism, both conquered and exterminated at the same time."
Meet your real ‘God’ - bow and worship En-Soph and mystical Kabbalah. OY!!!
From my last reading of the Word it really doesn't end well on your side of the fence. heh.
Haha. Talmud say christians who reject the Talmud will go to hell and be punished there for all generations. (Rosh Hashanah 17a). Oy Oy Oy!
Your Jew world is very complicated Rabbi, you should really consider simplifying your life. Just bust a nut twice a day, drink until you drop and invest in silver. Leave the rest to God. It says so in your good book. Read between the lines.
Not complicated. Very simple. Talmud say jews chosen people and own the earth and all goyim property, including the goyim! Oy vey!!
Spoken like a true christian
"Rabbi"............You are clearly not a rabbi. Just an anti-semitic jerk trying to stir up hatred,
Rabbi no stir hate. Rabbi tell truth to silly goyim. You need read Talmud and learn Kabbalah. Then you not be hateful anti-semite.
Folks think it doesn't matter they can't convert to real gold. They feel as long as the dollars they receive is equal to a ounce of gold it's the same thing.
Unfortunately this will end badly. Once gold starts a run there will be a scramble for physical. This is when the vast majority of folks realize just how rare this metal is. Physical will draw a tremendous premium. A rush into physical will accelerate a price spike. Folks really like to jump on a trend.
Could it reach $5,000 Could it reach $10,000?
I'm not sure, but if it did is JPM ready to fork out up to a billion dollars to those that want out of paper and into physical (or just want to get out at the top). They may not have the physical but what if they don't have the paper? If word gets out there is a liquidity problem in redeeming paper then we will see the true price of physical.
*Some* say you will be sorry if you sold at 10k. If the debt bubble blows *really* blows... they may be on to something. Time will tell.
Nothing to see here... move along. NOTHING to see here... COME ON, NO PANIC... NO, PANIC!!!
Might as well be a million to one. They have no intention on ever delivering regardless.
All countries have to do that hate the US is blow up the COMEX and ask for delivery of billions in gold.
These rigged markets need to be taken down.
A loss of confidence in the Fed, Comex and US markets in general needs to happen.
If the COMEX is phony so are other markets.
Countries like the BRICS should start buying COMEX paper gold and then demanding billions in gold.
Watch the criminals and their phony markets close.