Massive fire reported in basement vault of JP morgan

Silver Doctors ^ | 7/21/2013 | Unknown

[Usagi_yo]

With JPM’s gold inventory plunging 66% Friday to an all-time low of 46,000 ounces, and with reportedly over 502,000 ounces still standing against JPM for the JUNE gold contract, is the long anticipated force-majeure event in progress?

[Usagi_yo]

I always thought Force Majeure was a military term for overwhelming power, but I guess not as I found it reading this interesting story I first came across on the 2+2 forums for poker players.

http://forumserver.twoplustwo.com/219/politics-unchained/massive-fire-jp-morgan-basement-vault-1354474/

[logi_cal869]

Ummmm...

http://www.zerohedge.com/news/2013-07-21/did-raging-fire-burn-down-jpmorgans-gold-vault

[Wingy]

Who knew gold was so flammable? Those vault walls must have been made of tinder also. The vault at my bank is airtight, but those folks in New York seem to have a better idea.

[Vinnie]

So, all that gold melts into one big blob. Hmmmm

[BipolarBob]

Something don’t seem right in this story.

[Little Pig]

Story is false. The fire was actually at JPM’s *former* building, and was in an “electrical vault” (actually the electrical panel room).

[CrazyIvan]

“So, all that gold melts into one big blob. Hmmmm”

The fire won't get hot enough to melt the tungsten cores.

[IncPen]

I thought that one of the theories around 9/11 was that a massive gold robbery had taken place at JPMC in all the confusion

[kingu]

Yep, electrical vault. Though really interesting barricade system on the streets of NY. Hadn’t seen that before.

[noprogs]

I never heard of a so called electrical vault.

I have heard of a switchgear room, buss duct, transformer bank, wire raceway, buss rail, breaker box, and current interrupter, etc.

Something stinks here besides smoked insulation.

[SilverMine]

The fire won't get hot enough to melt the tungsten cores.

Very good.

[cavador]

I keep thinking of:

[mad_as_he$$]

After Sandy there was reports that JPM’s vault had been filled with sewer water and that they had hired a company to “recover” and “restore” all the bearer bonds that had gotten wet. I wonder........

http://www.nypost.com/p/news/local/manhattan/sunken_treasure_R1WidDOAwSBvWbYgSIoflJ

[0.E.O]

Story is false. The fire was actually at JPM’s *former* building, and was in an “electrical vault” (actually the electrical panel room).

Doesn't matter. Watch for gold futures to go nuts on opening.

[Farmer Dean]

All the gold on the outside melts,the tunsten cores remain intact.

[The Working Man]

One of the sadder things about stories like this is that we all immediately think of illegal actions, shenanigans, etc. when we read the headlines and first paragraphs. Well, at least I did anyway.

Mind you it could have been a totally legitimate occurrence. But with what we know today of crony capitalism, MF Global, Bernie Madoff, an so many others. We/I immediately think of the worst and how things like this are manipulated to benefit politics and greed.

[Usagi_yo]

It’s not false, misleading a bit but not false. It’s proper to be suspicious but open minded that what it is is just what it is. Thus the posting to FR for others thoughts.

[Usagi_yo]

I’ve heard of electrical closet, but not electrical vault. Funny though, I’ve been in an electronic vault at the Hollywood Church of Scientology building as they had an emergency with a piece of equipment my employer provided them.

All those pictures of LR Hubbard wearing one of his various sailor hats and eyes gazing to the heavens .....

[Caipirabob]

[RetSignman]

Anyone know where Herwaldo Rivera was at the the time?