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Comexodus: JPMorgan's Vault Is One Withdrawal Away From Running Out Of Deliverable Gold
One week ago, when we reported the record plunge in registered gold held by the various Comex gold warehouses in general, and JPMorgan in particular, which saw the "gold coverage" ratio, or the number of paper claims through open futures interest for every ounce of deliverable gold, soar to what we then thought was a record, and unsustainable 207x, we thought this situation would be promptly rectified as a few hundred thousand ounces of eligible gold would be "adjusted" back into the "registered" category.
Not only has this not happened, but with every passing day the situation is getting progressively worse.
According to the latest Comex vault data, not only was another 157K ounces withdrawn today, but the conversion of Registered into Eligible continues, and as a result another 10% of total deliverable gold was "adjusted away", leaving just 163,334 ounces of registered gold: the lowest in Comex history.
As a result, the ratio of Eligible to Registered gold is now a record high 41.2x in the history of the Comex.
Once again the culprit for the decline was JPM which saw not only a 122,124 ounces of Eligible gold be withdrawn, reducing the total by 13% to 750K ounces, but 8.9K ounces of registered gold was pushed into the Eligible category, in the process reducing total JPM registered gold by 45% overnight to a paltry 10,777 ounces: this amounts to only 335 kilograms of gold, or just 27 bricks of "good delivery" gold.
Finally, since aggregate gold open interest continues to remaing consistent at just about 41 million ounces of gold, today's latest ongoing reduction in deliverable Comex gold means that as of yesterday's close, there was a record 252 ounces of gold paper claims to every gold physical ounce of currently available and deliverable gold.
To summarize: last week we were confident that JPM would promptly adjust a few hundred thousands ounces of Eligible gold back into Registered status to silence growing concerns about Comex distress. A week later we are not as concerned by the relentless surge in paper gold dilution, as we are that JPM still has not even bothered to do this. Especially since with just 335 kilograms of gold, or less than 27 bricks, JPMorgan is now just one withdrawal request away from running out of deliverable physical gold.
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how much silver?
Here’s a lofty idea.
Create a “Crack JP Morgan’s Vault” GoFundMe page….
That vault in NY is already owned by the Chinese.
Open shop in the ‘Hood (modern equivalent is Craigs). All you need is a little nitric.
Well I guess this means we will be demanding China, India and Russia's reserves here shortly by "force"to compensate for that overwhelming depletion...
Gee?... I wonder what "storming the beach" will look like 21st Century style on the beaches of Al-Samra or Sevestopol?..
Good thing those guys and gals in the U.S. Army, Navy and Marines have had lots of practice in the last 20 years in foreign engagements with lesser adversaries! Cause practice makes perfect!!!
Not to worry though. We're good at this stuff!!!
Jamie Dimon to B. Masters: "Blythe, can the blockchain solve this?"
B. Masters to Jamie: "Of course, 100%...but ONLY if you underwrite my firm's IPO."
How much does it cost to paint some bricks gold??
Then why are the premiums for online gold sales NOT skyrocketing? Check out the prices at Monex... around a lousy $8 over spot for an American Eagle... this story sounds like smoke and mirrors to me... JPM is just being the crooks and manipulators that they have always been, Comex data of ANY kind is bullshit, and basing trading decisions on it is a fools game.
Just checked the ask price on Monex. Didn't see an $8 premium. It was closer to $40 or $50. $8 over was the bid.
1 Kilo gold prices still are not acting weird enough. Still 1.95%-2.20% Premium, same as last week.
http://goldprice.org/gold-prices/Gold-Bars.htm.
LoveyaJIMBO.......SHOW ME ASSWIPE! Maybe be $8 on a Silver Eagle NO EFFING WAY on a Gold Eagle.....YOU ROT IN HELL LIAR!
You Lie much? Damn, when you said eagle@ 8 over spot at Monex I immediatly went there to make a purchase. Spot was 1104 at the time
Quote directly off the Monex site at the time. Ask is 1144.80 or over 40+8 over buck per coin plus ship which is a higher than usual,. Along with the rest of your post Yur FOS
Gold American Eagle 1126.60 1144.80 -They're getting more right now.
BREAKING: Australian fighter jets drop first bombs on Islamic State in SyriaCOMEXODUS
see Jamie Dimon part the Red Ink.
(I have no idea what that means. But I thought it was cute enough to press save.)
see Jamie Dimon part the Red Ink.
(I have no idea what that means….)…
Not knowing where you saw it but having been here long enough to make an educated guess, I’d say it has to do with the biblical account of Jacob / Israel’s descendants leaving Egypt after Moses’s display of God’s power through the 10 plagues demonstrated to the leadership and inhabitants of Egypt culminating in the death of the first born of every creature in the land not protected by the blood of the sacrificial lamb spread over the door posts of any who chose to believe in the authenticity of Moses’ word.
The parting of the Red Sea is an intrinsic fact necessary to God’s chosen to fix an historic and factual event to a moment in history / time to God’s providential care and deliverance of those willing to subject themselves to His current and future promise of deliverance.
Much of this information / education is available in the book of Exodus, (the second book of the law), as found in the Hebraic writings of the Israelites /jews as well as the (LXX) Pentateuch authorized by subsequent conquerors of the same.
Now, who is willing to chase these escaping from the slavery of the powers that be?
Interesting times indeed.
Jmo.
I did know some of what you said, considering that I saw the Christian Bale "Exodus" last week.
It is not a tale that lends itself to film.
I found 'death of first born' much easier to take than 'boils'.
I like Christian Bale and expecteded his Moses to break into "I Started A Joke," but it was not to be.
We seem to have gotten stuck in the 'Golden Calf' phase, No?
…I found 'death of first born' much easier to take than 'boils'.
We seem to have gotten stuck in the 'Golden Calf' phase, No?...
It’s kinda late and I may not be too keen on my response so forgive me, but I would think the death of the first born may be a bit tougher to take than boils if it were to include my own offspring or in fact my wife, father / mother or close friend. Anyway, suffice it to say there would not have been a household in all of the land that did not suffer loss, I would imagine.
The parallel / parable to the event is found in the death of God’s only begotten with His blood spread across the threshold of the believer’s heart thereby sanctifying one’s being into communion with the Creator of our life, soul and spirit and in so doing guaranteeing an eternity of freedom to be spent in the presence of the Almighty.
We are thereby set free in a much more complete way than Moses’ charges or Lincoln’s decree could have ever proclaimed. Death no longer has dominion and our fear of death is removed, not only in the replacement of ignorance, the unknown and mere assertion as to what may happen, but to a realm of certitude, i.e. the substance of things hoped for and the evidence of things not seen.
The “Golden Calf” phase is a very poor second fiddle to the power that is craved by mankind, far and above greater than the mere possession of (temporary) wealth.
Jmo.
Of course I was referring to the CINEMATOGRAPHIC depiction of 'the death of the first born' and 'boils'. For me the latter was much worse to watch.
My personal view of the Old Testament is that like the New Testament, it contains both great wisdom and great bullshit. It is up to those who read it to decide which is which.
While I believe strongly in God, I don't use the prism of religion to see his works and I firmly believe that God is not to be seen in song, story or sculpture.
God is not to be seen in song, story or sculpture...
“But will God indeed dwell with men on the earth? Behold, heaven and the heaven of heavens cannot contain You. How much less this temple which I have built!..." King Solomon; 2 Chronicles 6:18
You're not the first person to state this obvious fact. But you are in terrific company.
jmo.
jpm can sell gold they don't have. you can't. class dismissed.
It doesn't matter how little deliverable gold JPM has, as they can both deliver and manipulate the price via fiat currency. And they have unlimited Fed access to fiat.
And that is why buying gold is not a wise investment. It is not an insurance policy. It is not protection against inflation. It is a metal used by industry, jewely and that's about it. We have 19 1 oz gold coins in our safe. What a waste.
I hear similar whining from speculators who bought gold for all the wrong reasons and instead tried to get rich quick by buying the shiny at or near the top of the market.
I'll buy those 19 coins from you. How does $5,000 sound?
Comex is a side show. GLD which is gold held by the major banks (owned by others yes, but HELD by the big banks) is still over 650 tons. They are far from being unable to deliver.
Comex is a side show. GLD which is gold held by the major banks (owned by others yes, but HELD by the big banks) is still over 650 tons. They are far from being unable to deliver.
Comex is a side show. GLD which is gold held by the major banks (owned by others yes, but HELD by the big banks) is still over 650 tons. They are far from being unable to deliver.
Comex is a side show. GLD which is gold held by the major banks (owned by others yes, but HELD by the big banks) is still over 650 tons. They are far from being unable to deliver.
I got it on the 4th time. Sorry folks, just a bit slow tonight, been a long day.
Maybe Comex is a side show....
This is done by design.
They are gearing up for one last war and are sucking in the Muppets for one final kill.
Think about this. Gold is the war against the FED. JPMorgan is the arm of the FED.
This is not a one battle war...
And with unlimited Fed fiat JPM always wins against Muppets.
The problem is, most people won't recognize a LBMA or COMEX default as the serious pivot point that it is. Case in point, ABN Amro. They will settle in cash and sweep the grenade under the carpet. What idiot actually expects to take delivery from the comex anyway?
Holy crap we went from a record 107 to 124 to 207 to 228 and now 252!!! Damn could this really b it. Is this a pm investor dream come true? Not gonna Get excited just yet. Let wait for this thing to break. I'm all in on mining stocks an physical silver split 80-20. I'm super excited lol
I know a lot of mining companies. I can say confidently that none of them are actually getting any funds for mining operations.
Interestingly, the conspiracy theory here is that such non-operating Gold mines are used as backup for so called "Deep Storage Gold". Which means their gold is deep underground.
Why waste money digging it up, if all you need the gold is to transfer it into a Vault above ground?
Something is clearly wrong. Because my friends expected at least the Chinese to invest in their mines. It is not happening either.
Support for operating mines were also withdrawn (due to high cost of environmental damages) and many stopped operating.
So, if there is really a lot of demand for Gold, explain the above situation.
no worries... 100000 to one paper claims is ok
Just remember, a cornered RAT is a ferocious opponent....I have no clue how this will play out...
on this news .. gold shall go down in price
i always am defending apple because everyones is bitching about apple, but i actually own 3 times more gold than apple, but I have to admit that I hope this is one of those scenarios that is actually fucking meaningful, waiting for any one of the 1000 conspiracy facts to come true
You need to read more. Stop MSM or TV news.
Almost all the conspiracy facts have already come true.
Central Bank Trading, Libor Manipulation, Currency manipulation.... everything. What else you waiting for?
Hey, fuck all you shitbags... I meant $8 over a one ounce gold bullion coin... not an Eagle... excuse me all to hell... still pretty low, eh, you ass-licking bonesmokers???
where I can get an ounce of gold 8 bucks over spot?? send me the link pls
LINK for Monex and $8 over spot for a 1 ounce gold bullion coin
http://www.monex.com/liveprices/
I see that but no minimums are listed... I doubt you can buy ONE ounce for $8 over... prob for a larger bar.
Kitco is among the cheapest and look at their little bars... min is a couple of grand
did u ever buy from them before? or gold one ounce before?
mailing fees are at least $30 bucks
"So to ensure that an investor pays the lowest premium possible, gold bars should be purchased in the largest possible size"
from monex
LovejaJIMBO.....you dude you.....
Hey, fuck all you shitbags... I meant $8 over a one ounce gold bullion coin... not an Eagle... excuse me all to hell... still pretty low, eh, you ass-licking bonesmokers???
Link Please for that $8 over spot 1 oz gold coin? Otherwise I wil just write it off to you and JIMBO having carnal knowledge of yourselves.
so what does this mean for GLD?....the ETF that is
it means it is a BS ponzi
OK once again, is GLD the paper behind this particular gold?? The Ponzi shit I already know about
if jpm and hsbc are the trustees and jpm has none... what do you think?
Syria has 25 tonnes so maybe Russia will fly it or ship it out before the U.S. can get it.
I'll need a bigger popcorn bucket.
Whatever this is, it's breaking records (all-time lows in this case), as extremes continue to be tested. Manipulated reporting or not, something has definitely changed in the Matrix.
dupe
Time to break out the gold plated tungsten bars. Oy vey!
I'm a buyer of GOLD and SILVER at ANY COST...because...FUCK YOU BANKSTERS!
Just kidding .gov.
And we're supposed to beleive the crimex offical numbers/
don't worry buy silver... it will go to the moon, and people will pile in... increases will be huge.. the masses can't afford gold...
silver will be a few hundred per ounce - really think about it... less than $20 is retarded.
They'll just move some of Germany's gold through the tunnel.
Vlad... can you place your monthly order today... x5 thanks..
yes you can pick it up while in NY
You think this is it? Everyone thought the shit would hit the fan in Dec 13/Jan 14. They found more gold shortly after that then and it would not surprise me if these guys find some more gold now
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When this all goes south, does it mean the price of gold will necessarily skyrocket ? 250 times?
Who knows? Gold can be worth whatever someone wants it to be without really changing anything.
They're just messing with us, again.
Right? Probably.
But one of these days...
All you need are some Chinese cashing all their US dollars to buy gold for delivery.
YeeeeeeeHaaaaaaaa Gold up a buck fifty on the news.
What you can expect from the Zionist cocksuckers that own you, are losers and will lose your life!...
Good night ladies!!!
Maybe the person who runs the accounting department went on emergency leave and did not leave backup instructions on how to switch between registered and eligible and vice versa.. I am sure they will get it squared away...in the meantime get your "preppers" manual out and start stocking up...
Why doesn't Comex or JPM seemed concerned..maybe there is a clause in the contract which says that if they do not have the gold they can offer you paper money instead. So who cares..you ask for your $1000 in gold and they give you $1000 in one dollar bills. The FED can just print some more bills if they need them...
The problem is that if you don't have the underlying physical then you will be unable to settle for cash if the price of gold and silver goes up significantly.
My mother closed her account with JPM a few weeks ago, since she retired. They conveniently "forgot" to send her check until she phoned asking where the money was.
many here suggests (and does it for years) that when physical gold runs out, contracts for gold will grow substancially
guess what, they will - in my opinion - drop! that's why they are going down now
because they are simply worthless! have no backup in physical gold, in paper only
The only thing that makes sense is they're surpressing comex prices to accumulate physical. Probably Chinese. 100 year plan for the gweilo. Maybe it's the long goodbye though? How many physical holders will be left if in 10 years silver is still hovering around $15 and gold around $1000? My guess is not many in north america maybe 1% of the population at best?
shorting gold seems a good hedge for a long equity into Fed's decision:
- fed hike, dollar up, gold down, stocks down
- fed doesn't hike, dollar down, gold up, stocks up
Of, course, this makes sense only if gold contract at comex is seen as more liquid than stocks...
Seriously, you'd really have to be braindead to think silver will only be worth $15 in 10 years.....
252 paper oz. claims per every phyzz oz. sounds exciting, but I don't quite get the bottom line...doesn't the ratio of short interest vs long interest come into play? ie..if (per ounce) 125 or so claims are long and have to sell to close the trade, and 125 or so are short and have to buy, wouldn't those cancel each other out for a net zero sum? I've been a silver stacker for years but am still trying to figure some of this shit out.
I guess the COMEX guys have been sent to Poland to get a hand on the Gold train. They'll try to fill up their physical gold reserves with what they find in the train.
Hope Comex will go down the drain soon, at least this paper gold fantasy will be over. Next Friday, I'll get some more physical gold. Even it is only a little bit, I don't care, but I want physical stuff.
Keep hoping that COMEX will break. It won't. I have been hearing these comedy is goin to break for over 15 years. Rubbish. Ain't gonna happen. Just because you want it to be doesn't mean it will be.
Here's the thing. The 25% difference in the spot price and the physical price seems to me to make it a nondecision to keep taking physical delivery then selling it and buying back in at spot or whatever the paper contracts above spot are. Rinse and repeat.
Its tungsten time, folks!
If it's not quickly papered over, then the million dollar question is: who is withdrawing this gold? That's the billion dollar question. If it was just any old JPMC customers, this would be quickly accounted away.
So what, then they will "settle" for "cash". Just ask Corzine.
Question is, do they have the cash. Maybe the money is gone.
Anyone wanna bet it won't make one fucking bit of difference if they run out?
All this talk of 1000-1 paper to physical... you've all be screaming this the whole time as gold has gone from 1800 to 1100. What makes you think this direction is going to change because of this?
Name the last time in history that paper gold did not outnumber physical? It has done so for 1000 years or more going back to the goldsmiths who did this all the time. Gold already has a premium built-in for the physical for the perceived shortfall.
I am awilling to bet anyone that this pipe-dream of some huge rush to physical that sends prices into the thousands because one day people wake up to the paper/physical issue does not happen anytime soon. As in not this year or next. Or maybe many years. It has not happened for a 1000 years so far so why tomorrow? Because of JP Morgan? Please.
You guys need to get off this JP Morgan manipulation kick and your idea that the only reason gold miserably failed to hit the "$3000 within weeks if not days" prediction Tyler Durdin posted the day before it peaked is due to some kind of... manipulation.
Gold moves with commodities in general. Fact. Don't believe me?... run a chart of gold vs commodity index the last 30 years and see for yourself. Gold tracks almost perfectly until 2010-2011 when it spiked up and is now coming back down to all the other commodities.
Gold is a COMMODITY that sometimes trades as money, especially when people do not trust their government. It does not track with inflation AT ALL. That is also a fact. It tracks with commodities. Commodities are dropping, thus gold is dropping. Period.
And if some of the predictions here that oil and commodities are going to drop by another 30-50%, then all the Jp Morgan theories in the world are not going to help you when gold drops to 550-800.
Paper or fake gold and silver are dropping. Early in the year when fake silver was at $17 I was paying just under $20 for silver eagles. Now fake silver is at $14 and I'm paying just about $20 today for silver eagles. So tell me, where is the drop in price?
Name the last time in history that paper gold did not outnumber physical?
lol, now that was really stupid.
Paper gold is the original fiat.
Harvey Organ used to keep track of physical silver in Comex's warehouse, but his blog is now apparently defunct. Does anyone know what has become of Harvey Organ? I could not find any information on Turd Ferguson's metals report.
http://harveyorganblog.com/2015/09/15/sept-15huge-removal-of-physical-go...
Harvey is on silverdoctors.com now.
About a year ago, I heard a story that an individual asked a pm dealer for one tonne of gold...$40 million dollars worth. Perhaps it was a baseball player or some nouveau riche guy that wanted a conversation item in his rec room. It turned out the dealer could not get a tonne of gold, anywhere, anyhow. This was not understood by the millionaire, why his paper money wasn't able to buy it at any price, let alone the book price.
This should be a lesson to us...when JPMorgan/ COMEX has less than a third of a tonne left...$13 million paper dollars worth on their manipulated market ...that's not much. And when they decide to let er go...it don't matter how much paper money you have if no one wants to trade their actual pms.
I got a call from an associate who was evidently trying to source for the same guy, heard the same story, told him I could source a few ounces from here (Guyana), but over spot, 92% dore, so unrefined.
I'm dying from the price, made a few ounces last month, had to sell all just to stay in business. Fuck this, bring it Bitchez!
When the ebola infested comex starts to puke, GLD will have to run. And run it will, empty.
Go looonngg on tungsten???
The good thing: I do not have to care. I've my stock of physical gold and am not inclined to sell anytime soon. They day will come where one will be quite happy to have some physical Gold or Silver. Not IF is the question just WHEN.
Don't get your hopes up.
Those figures can be adjusted with a stroke of a key and probably will be before physical forced majeure takes place.
But looks like it's getting late in the shell game, and the music is coming closer to ending, all that remains is who gets a seat when it stops!
.
Unicorn shit nuggets are 1 Troy ounce each of deliverable gold.
When will they start counting those?
At JPM, silver is the new gold.
I really have no idea how the game will pan out but physical pm's are still the best bet in a sad twisted fuck of a world
Of all the many reasons to own gold this is the worst. Comex is just a warehouse.
http://ftalphaville.ft.com/2013/07/26/1582712/no-the-comex-is-not-going-...
What are the odds? An entire comments section about gold and not a single mention of bitcoin... FUCK! Sorry.
Jump, you bastards!
Okay, does all this mean that Germany isnt getting its gold back?
Only 27 bricks left--- Looks like the yellow brick road doesnt make it all the way to oz and stops short, somewhere close to the wicked witch of the west
Ok, so far this article has over 93,000 reads, if each of us buys 1 oz will that do it ?
Give me a loaded infinit visa card and I can buy more of it on the open market at a pretty good price.
And the colour won't be off as will the purity.
There's plenty of gold to go arround. It's just another trick.
Otherwise, they'd have boosted gold production to supply it.
Unless they're doing the Greece gold trick where they try to idle mines untill shit turns south.
How much can you get at COMEX for spot?
Sure you can pay a ten percent premium still.
Well, put your money where your mouth is. I did.
"They'd have boosted gold production" ROFLMAO...
Who's they???
Us broke-dick gold miners who can hardly stay afloat now???
Evidently you think central banks or soverign governments can print gold???
WTF???
They should turn that gold into coins and put "This is the last gold from the Comex"
They'd sell like hot buns!
Watch the scramble for Silver when the sheeple finally realize Gold is not a pet rock, and it's all gone.
Speaking of Argent, it's also the best tasting sweetcorn variety EVER and it's great roughage...I had some pass through the system in under 12 hours!!!!You'll have to go diving in my septic tank, if you want to recover any of that Silver.....
Anyone heard anything about this yet???? Sure seems to have gone under the radar.
http://www.cbc.ca/news/canada/montreal/silver-heist-montreal-shipping-co...
16 tons of silver stolen in Montreal.
If Comex has the "right" to settle any claim in cash, then they don't need a single ounce of metal.
All you are buying is a number, the same as as a roulette table. Above that # you win, below it, lose, or vice versa.
And they get to decide that days number.
Haha. Like a roulette wheel with selectable stops.
All perfectly legal...I guess.
It's a good 'business'.
abn-amro announced several years ago they would settle claims on gold in cash.
Someone needs to print some more gold bricks fast!
I think, next time they put a minus in front of the numbers