Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

JPMorgan's Eligible Gold Plummets 65% In 24 Hours To All Time Low ^

Posted on 04/25/2013 4:36:56 PM PDT by djf

We are confident that in the aftermath of our article from last night "Just What Is Going On With The Gold In JPMorgan's Vault?" in which we showed the absolute devastation of "eligible" (aka commercial) gold warehoused in JPM's vault just over the Manhattan bedrock at 1 Chase Manhattan Place (and also in the entire Comex vault network in the past month), we were not the only ones checking every five minutes for the Comex gold depository update for April 25. Moments ago we finally got it, and it's a doozy. Because in just the past 24 hours, from April 24 to April 25, according to the Comex, JPM's eligible gold plunged from 402.4K ounces to just 141.6K ounces, a drop of 65% in 24 hours,and the lowest amount of eligible gold held at the vault on record, since its reopening in October 2010! Everyone has seen what a run on the bank looks like. Below is perhaps the best chart of what a "run on the vault" is.

The absolute collapse in JPM's eligible gold inventory, means total Comex eligible gold has fallen to just 5.8 million ounces, half of what it was in early 2011, and back to levels last seen in March 2009.

So, once again, just like last night, we ask the same questions which are even more critical today than they were 24 hours ago:

1) What happened to the commercial gold vaulted with JPM, and what was the reason for the historic drawdown?
2) Gold, unlike fiat, is not created out of thin air, nor can it be shred or deleted. Where did the gold leaving the JPM warehouse end up (especially since registered JPM and total Comex gold has been relatively flat over the same period)?

3) Did any of this gold make its way across the street, and end up at the vault of the building located at 33 Liberty street?
4) What happens if and/or when the JPM vault is empty of commercial gold, and JPM receives a delivery notice?

Incidentally, JPM now has just under a paltry 5 tons of eligible gold left in storage. We hope this is also the maximum exposure it faces for imminent delivery requests, because if tomorrow it receives withdrawal requests for 141,581.5 ounces +1, then things get really interesting.

TOPICS: Business/Economy
KEYWORDS: gold; jpmgold; jpmgoldvault; physicalgold

1 posted on 04/25/2013 4:36:56 PM PDT by djf
[ Post Reply | Private Reply | View Replies]

To: djf

How eligible for marriage is it now? Will it kiss on the first date?

2 posted on 04/25/2013 4:43:09 PM PDT by Jack Hydrazine (IÂ’m not a Republican, IÂ’m a conservative! Pubbies haven't been conservative since before T.R.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: djf

That’s impressive.

3 posted on 04/25/2013 4:44:30 PM PDT by EEGator
[ Post Reply | Private Reply | To 1 | View Replies]


4 posted on 04/25/2013 4:46:24 PM PDT by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
[ Post Reply | Private Reply | To 1 | View Replies]

To: djf; blam; dennisw; TigerLikesRooster

Gold is a barbaric relic.

We’ll need it again, during barbaric times.

5 posted on 04/25/2013 4:52:44 PM PDT by Travis McGee (
[ Post Reply | Private Reply | To 1 | View Replies]

To: djf
Could this be one of those strategic press releases?

Bet the price of AU goes up $200 tomorrow.

6 posted on 04/25/2013 5:46:17 PM PDT by ZOOKER
[ Post Reply | Private Reply | To 1 | View Replies]

To: djf


7 posted on 04/25/2013 6:13:13 PM PDT by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
[ Post Reply | Private Reply | To 1 | View Replies]


The tall dogs hold and trade paper gold future contracts.....which have been twisted now to the same basic ponzi scheme as derivatives were/are.....yes they are all scum.

To me and others in the gold blogs...looks like the big money boys are fleecing the little guys by betting short and churning the paper contracts...this drives the price down and requires many investors to pony up more cash for their margin accounts.....often they have to sell to raise cash to do so...or, if they panic....sell it all...further driving down the price.

Could also be a conscious action by central banks to drive gold down to keep sale of the Cypriot gold reserves (any other indebted nations) from reducing their indebtedness as much as they could have now that they are forced to liquidate their gold reserves....double scum.

Probably both as both gain by it.

Physical gold will always have value...unlike Wall Street paper. It’s actually value in real world goods is constantly being distorted by the contract gold speculators....which as you might guess are banks and big funds.

You have heard it said is not an investment as much as a store of appears to be true.

8 posted on 04/25/2013 6:16:04 PM PDT by Lowell1775
[ Post Reply | Private Reply | To 6 | View Replies]

To: Travis McGee

9 posted on 04/25/2013 6:19:20 PM PDT by blam
[ Post Reply | Private Reply | To 5 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson