[Poohbah]

No, it doesn't. But I get suspicious when someone claims that J.P. Morgan put itself into a position to bankrupt the known Universe because of gold derivatives, and then offers to sell me gold, allegedly at a discount.

Call me suspicious. Call me paranoid. Hell, call me a taxi.

[Travis McGee]

"Just because you're paranoid doesn't mean they're not out to get you."

[Deuce]

But I get suspicious when someone claims that J.P. Morgan put itself into a position to bankrupt the known Universe because of gold derivatives, and then offers to sell me gold, allegedly at a discount.

Here's the problem. You don't understand the allegation. Let me be more accurate:

Someone has developed substantial evidence that JP Morgan is manipulating gold for it's own benefit in an environment where it can expect to be bailed out if things go wrong.

[headsonpikes]

Okay...you're suspicious and you're paranoid....

TAXI!!

[Gritty]

You wanted confirmation from another site other than a gold site?

Try this one from the Treasury Department, which requires these derivatives to be reported. And just so I don't have to pay your outrageous consulting fee and minimums, check out page 27 for specifics.

This pdf is the 3Q 2001. It shows a massive exposure of around $37 billion in gold derivatives held by JPM/Chase and another $14 billion held by Citibank (the two shakers and movers,... and bagholders... with Enrom and WorldCon). Much of these gold derivatives would probably still remain unwound, as the bulk of them are for greater than one year. Who knows how many more they wrote between then and now?

Still think they don't have an interest in this game?

And no, I don't have any gold to sell you. This is to point out their mindboggling exposure and pecuniary interest in keeping their derivative house of cards under control.

[rollin]

Greed can often box people into a corner!

Since I know many of the JPM people and those at Goldman Sachs, they are capable of and do make mistakes.

Up to now, they have been able to use the massive credit of the US government via the Exchange Stabilization Fund, the IMF, the BIS, and central banks to skate.

Unfortunately, the ice is getting very thin and is cracking with the market tanking.

They will and must do everything to attempt to stay afloat even if that means running M3 at historic high rates.

The foreign investor has finally seen through the smoke and mirrors and is pulling their money out. Inflation is raising its ugly head and despite the various adjustments to all the statistics, you only have to go to the grocery store to see that prices are increasing.