– JPMorgan’s Gold Vault Has Biggest One-Day Withdrawal Ever (ZeroHedge, Jan 24, 2014):
Curious why over the past few months JPM has quietly been accumulating a substantial amount of eligible physical gold (even as its registered gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn – keep that date in mind for a few minutes)? This may have something to do with it: moments ago the daily Comex gold vault report confirmed what many expected, namely that the JPM accumulation was merely in advance anticipation of major withdrawals. How major? Well, on January 23, JPM saw 321,500 ounces of gold depart in one day. This was tied for the single biggest daily withdrawal in history!The last time JPM had an identically sized withdrawal? December 13…. 2012.
Something tells us the next few days will see matching withdrwawals from JPM’s gold vault, which at last check was officially owned by the Chinese.
And for those wondering how JPM’s total gold holdings look over time here it is:
The game of hot potato seems to have come to the banking system. Their debt level is far higher than their holdings. Nothing new, unfortunately.
This is what happens when government merges with business……..the bad guys,( the wolves,) take over the hen house. This is why they must never merge, their purposes are very different. Japan is an excellent example as to why this must never be allowed.
The banks must be put under control by government. They are destroying this country. Our founders were correct in not wanting us to have banks. I don’t know why bankers always end up destructive to the community, but they do.
I don’t understand why bankers are so destructive, but they are. There must be a way to keep them in check, and we need to do that…..these people are destroying our country.
Rehypothication! Look that one up and you will see what Bernanke did with everything. The gold is gone. Even the foreign owned stuff. May be loaned out on 20 or more deals, each ounce, which was the collateral they sold as well. So no nasty audit visits to the vault, Ron Paul!
If the FED does it, well that’s why your owning gold is frowned on. May be we need a 1933 retrieval and then a doubling of the price.
Of course, as they naked short the price down, China takes delivery. A fun double edged sword. All on an ancient relic. Yes, unbacked paper is whats valuable.
The last legal note said “Silver certificate”. After Kennedy was executed, the first act of LBJ was to kill the silver cert. program.