I’ve said many times that if you want to protect your financial assets physical gold and silver are (in my opinion) the place to be (and especially silver, which is still my favorite “investment”).
Only physical gold and silver are real, everything else will (in my opinion) turn out to be an illusion.
Of course you’ll need to prepare (for the greatest financial collapse in world history) on all levels: Water, food, survival gear, etc.
Just buying gold and silver will not nearly be enough, but it’s a good start.
The days of JP Morgan controlling the silver market may be numbered as a new player in the silver market has arrived. For the past several years, JP Morgan held the most silver on a public exchange in the world. While the LBMA may hold (or did hold) more silver, their stockpiles are not made public.
Regardless, JP Morgan held the most silver at nearly 74 million oz (Moz) in its warehouse, up until recently. Over the past two months, JP Morgan’s silver inventories have fallen nearly 7 Moz to 67.1 Moz today:
As I mentioned in my previous article, Why Are The Chinese Stockpiling Silver? Big Move Coming?, JP Morgan increased their silver inventories from 4 Moz in April 2011 to 69.4 Moz April 19, 2016. However, the Shanghai Futures Exchange silver inventories surged from 7.5 Moz in August 2015 to 54.7 Moz on April 19, 2016:
Basically, JP Morgan added an average 16.3 Moz of silver each year for the past years, whereas the Shanghai Futures Exchange added nearly 7 Moz per month. Furthermore, the majority of gains came since the beginning of 2016. Again, here is my previous Shanghai Futures Exchange silver stock chart from the article linked above: Continue reading »
Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. Continue reading »
Last month All News Pipeline warned that major banks were preparing to tighten the screws on American account holders starting April 1st.
It appears that the lock-down of cash has begun.
On February 12, Jamie Dimon made headlines when he bought 500,000 shares, or some $26 million worth of JPM stock which coming one day after the market hit its lowest point in the recent selloff, has become known as the “Dimon Bottom.” Was it just good timing or was there something more to the purchase some wondered. As it turns out the purchase may have been nothing more than Jamie frontrunning his own company’s multi-billion buyback, because as JPM announced moments ago, the company of which he is a CEO, just authorized the repurchase of an additional $1.9 billion in stock over the next three months, thereby assuring CEO Jamie of an even great profits on his recent acquisition.
JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps
~Lender looking to complete sale of $1.1 trillion swaps book
~Deutsche Bank has sold about two-thirds of book since 2015
Deutsche Bank AG, the lender exiting some trading operations, is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to sell the last batches of about 1 trillion euros ($1.1 trillion) in complex financial instruments, people with knowledge of the matter said. Continue reading »
Now, another Croatian JPMorganite, equity strategist Mislav Matejka, will be the recipient of permabull ire with his latest call which, while a rehash of his most recent call that “equities are not attractively priced any more“, will likely sour today’s market sentiment and attempts by algos to ignite upward momentum and forget, if only for a moment, the perfect storm brewing in China.
From JPM’s Mislav Matejka: Continue reading »
Did you know that there are 5 “too big to fail” banks in the United States that each have exposure to derivatives contracts that is in excess of 30 trillion dollars? Overall, the biggest U.S. banks collectively have more than 247 trillion dollars of exposure to derivatives contracts. That is an amount of money that is more than 13 times the size of the U.S. national debt, and it is a ticking time bomb that could set off financial Armageddon at any moment. Globally, the notional value of all outstanding derivatives contracts is a staggering 552.9 trillion dollars according to the Bank for International Settlements. The bankers assure us that these financial instruments are far less risky than they sound, and that they have spread the risk around enough so that there is no way they could bring the entire system down. But that is the thing about risk – you can try to spread it around as many ways as you can, but you can never eliminate it. And when this derivatives bubble finally implodes, there won’t be enough money on the entire planet to fix it. Continue reading »
In the wake of 2008, it’s probably safe to say there isn’t a person alive who completely trusts a banker.
If, however, you happen to be dead, it’s more difficult to scrutinize the activities of those conducting your finances, a fact underscored by the alleged theft of hundreds of thousands of dollars from at least eight accounts belonging to deceased clients of JP Morgan. Continue reading »
Three people have been charged this week in connection to “the largest theft of customer data from a U.S. financial institution in history.”
Those are the words of Preet Bharara, the U.S. Attorney involved in the case involving a major cyber hack on JP Morgan in July 2014, among many others.
The trio have been charged on 23 counts relating to the computer hacking of multiple financial institutions and financial news publishers; including the Wall Street Journal and stealing the personal data of 83 million JP Morgan customers. Continue reading »
NEW YORK (JTA) — Three Jewish men, two of them Israeli citizens, are among those charged with hacking the website of JPMorgan Chase & Co. and stealing hundreds of millions of dollars.
The indictments of Gery Shalon, Joshua Samuel Aaron and Ziv Orenstein in U.S. District Court, Southern District of New York were unsealed Tuesday. The 23-count indictment encompasses the Chase hack along with numerous alleged crimes targeting 12 other companies, including nine financial service companies and The Wall Street Journal, Reuters reported. Continue reading »
This will surely end well.
As of today, the gold “coverage” ratio, or the amount of paper claims for every ounce of physical, has just hit a new all time high of 293 ounces of paper per ounce of registered physical.
Curiously, the last time we observed a comparable surge in the Comex dilution ratio took place just two months ago when a comparable “adjustment” reduced JPM’s “Registered” inventory by 122,124 ounces. Back then many said the adjustment would be promptly reversed. Continue reading »
Having watched the credit markets grow more and more weary of the major US financials, it should not be total surprise that ratings agency S&P just put all the majors on watch for a rating downgrade:
*JPMORGAN, CITIGROUP, GOLDMAN SACHS, STATE STREET CORP, MORGAN STANLEY MAY BE CUT BY S&P
Despite all the talking heads proclamations on higher rates and net interest margins and ‘strongest balance sheets’ ever, S&P obviously sees something more worrisome looming. This comes just hours after Moody’s put Bank of Nova Scotia on review also (blaming the move on concerns over increased risk appetite).
Vinyl rip from my personal collection. Best audio on the net.
This 3x LP record set documents the activities of a secret society known as The Illuminati, and their New World Order.
Mr. Fagan describes with documentary evidence how the ILLUMINATI became the instrument of the House of Rothschild to achieve a “One World Government”.
Tags: Adam Weishaupt, Adolf Hitler, Banking, CFR, Council on Foreign Relations, Dictatorship, Economy, Freemasonry, French Revolution, Global News, Goldman Sachs, Government, Illuminati, Jacob Schiff, JPMorgan, Myron Fagan, Napoleon, New World Order, Politics, Rothschild, Russia, Russian Revolution, Society, Stock Market, U.K., U.S.
– JPMorgan Helps Comex Avoid Gold Depletion, Boosts Registered Gold By 78% Overnight (ZeroHedge, Aug 6, 2015):
We were less than surprised to see that just 2 days after our report, the Comex once again succeeded in sweeping default fears under the rug by boosting its eligible gold by a whopping 78% overnight, from 362K ounces to 643K, thereby pushing deliverable gold from its all time lows. However, this was not achieved with an infusion of actual new gold into the Comex, but thanks to JPM reclassifying 276K ounces of gold from the Eligible into the Registered category, even as actual eligible gold continues being withdrawn from the Comex.
– JP Morgan to Pay Another Slap on the Wrist Fine for Engaging in Systemic Consumer Credit Card Debt Fraud (Liberty Blitzkrieg, July 8, 2015):
Just yesterday, I published a post titled: Florida Man Sentenced to 2.5 Years in Jail for Having Sex on the Beach. The purpose of that post wasn’t to justify his actions, but rather to highlight the difference between how average citizens are treated under the U.S. “justice” system, and how thieving, remorseless financial oligarchs are treated.
While, Mr. Caballero may have ruined the day of a few beach goers by crudely having sex on a public beach in broad daylight, he didn’t run the U.S. economy into the ground and cause destitution to tens of millions of Americans. Nor did he received trillions in taxpayer backstops and bailouts, only to turn around and pay himself a record bonus and then carry on with extremely profitable, illegal financial schemes. No, it was the bank executives who did (and continue to do) all of that. Guess who ends up in prison? Continue reading »
– The “Nightmare Of The Euro-Architects” Is Coming True: JPM Now Sees Grexit, Eurogroup “Split In Coming Days” (ZeroHedge, July 5, 2015):
Perhaps the best summary – or epitaph, some would say – of the shocking events that took place in Greece this afternoon, and the resultant falling dominoes that are about to be unleashed, was given by Slovakia’s finance minister Peter Kazimir, who summarized events as follows:
The nightmare of the ‘euro-architects’ that a country could leave the club seems like a realistic scenario after #Greece voted No today
— Peter Kažimír (@KazimirPeter) July 5, 2015
He followed it up with a Dylan Thomas quote:
We will not go gently into this good night. We stand united and we need to respond to this situation as soon as possible
— Peter Kažimír (@KazimirPeter) July 5, 2015
We assume the next lines goes as follows:
“Rage, rage against the dying of the “irreversible” currency” Continue reading »
– JPMorgan Just Cornered The Commodity Derivative Market, And This Time There Is Proof (ZeroHedge, June 29, 2015):
For years there had been speculation, rumor and hearsay that JPM had cornered the US commodities market. Now, finally, we have documented proof.
– How Jamie Dimon Became A Billionaire (ZeroHedge, June 3, 2015):
Two years ago, bank analyst Mike Mayo asked JPM chief Jamie Dimon a simple question: why should affluent customers not pick UBS over JPM due to a mismatch in capital ratios, to which Dimon’s response was even simpler: “that’s why I’m richer than you.” To which we then added: “No logic, no rationale: all about the bottom line, which to Jamie at least is all that matters.”
H/t reader M.G.:
“Looks like the greedy guts are adding to unemployment.
Remember, for every job lost, seven more are put at risk.”
– JPMorgan Chase & Co. (JPM) To Cut More Than 5,000 Workers By End Of 2016: Report (International business Times, May 28, 2015):
JPMorgan Chase & Co. (NYSE:JPM) is starting to lay off more than 5,000 employees in a $1.4 billion cost-cutting measure to be completed by the end of 2016, the Wall Street Journal reported Thursday, citing people familiar with the matter. A spokeswoman for JPMorgan Chase would not comment on the report, but said the layoffs are part of cost-cutting efforts outlined in a presentation released earlier this year.
JP Morgan, the largest U.S. bank, is overhauling its nearly 5,600 branches. Chairman and CEO James Dimon said Wednesday the average Chase bank branch will lose one employee over the next two years. The bank has already cut 1,000 jobs. Continue reading »
– Why Is JP Morgan Accumulating The Biggest Stockpile Of Physical Silver In History? (Economic Collapse, April 24, 2015):
Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great investment. But in recent times, the price of silver has actually fallen quite a bit. As I write this, it is sitting at the ridiculously low price of $15.66 an ounce. So up to this point, JP Morgan’s investment in silver has definitely not paid off. But it will pay off in a big way if we will soon be entering a time of great financial turmoil. Continue reading »
– “Another Crisis Is Coming”: Jamie Dimon Warns Of The Next Market Crash (ZeroHedge, April 9, 2015):
The Treasury flash crash and similar recent events in currency markets are “shots across the bow,” Jamie Dimon says in his latest letter to shareholders. The JPM chief goes on to warn, as we have for years, that declining liquidity in credit markets is likely to exacerbate future crises: “The likely explanation for the lower depth in almost all bond markets is that inventories of market-makers’ positions are dramatically lower than in the past. For instance, the total inventory of Treasuries readily available to market-makers today is $1.7 trillion, down from $2.7 trillion at its peak in 2007. The trend in dealer positions of corporate bonds is similar.”
From the article:
“Under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.”
– Ten Banks, Including JPM, Goldman, Deutsche, Barclays, SocGen And UBS, Probed For Gold Rigging (ZeroHedge, Feb 23, 2015):
No matter how many times the big banks are caught red-handed manipulating precious metals, some failed former Deutsche Bank prop-trader (you know who you are) will take a vociferous stand based on ad hominem attacks and zero facts that no, what you see in front of you is not precious metal rigging at all but a one-off event that has nothing to do with a criminal banking syndicate hell bent on taking advantage of anyone who is naive and dumb enough to still believe in fair and efficient markets. Continue reading »
– Another JPMorgan Banker Dies After Murder-Suicide: Chokes Wife, Stabs Himself To Death (ZeroHedge, Feb 9, 2015):
By now, there have been so many banker-related suicides that it has become a moot point of i) tracking them all or ii) trying to find a pattern. And yet, one name continues to stand out: JPMorgan. The bank which has been most prominent among the list of “suicided” bankers notched one more casualty over the weekend when “a JPMorgan Chase & Co. employee strangled and stabbed his wife to death before turning the knife on himself, according to police who are treating the couple’s death in Bergen County, New Jersey as a murder-suicide.”
Bloomberg reports the gruesome details according to which Michael A. Tabacchi, 27, and his wife, Iran Pars Tabacchi, 41, were found dead Friday about 11:30 p.m. in the bedroom of their Closter home after a 911 call placed by the husband’s father, Bergen County Prosecutor John Molinelli said in an interview. Closter is located in northern New Jersey, about 20 miles (32 kilometers) from midtown Manhattan.
It wasn’t a nail-gun this time. It was a knife:
Autopsy results on Sunday showed the wife died of strangulation and a stab wound to the chest while Michael Tabacchi died from a single self-inflicted stab to the chest, he said. Continue reading »
– Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter (ZeroHedge, Feb 9, 2015):
In the absence of any notable developments overnight, the market remains focused on the rapidly moving situation in Greece, which as detailed over the weekend, responded to Europe’s Friday ultimatum very vocally and belligerently, crushing any speculation that Syriza would back down or compromise, and with just days left until the emergency Eurogroup meeting in three days, whispers that a Grexit is imminent grow louder. The only outstanding item is what happens to the EUR and to risk assets: do they rise when the Eurozone kicks out its weakest member, or will they tumble as UBS suggested this morning when it said that “the escalation of tensions between the Greek government and its creditors is so far being shrugged off by investors, an attitude which is overly simplistic and ignores the risk of market dislocations” while Morgan Stanley adds that a Grexit would likely lead to the EURUSD sliding near its all time lows of about 0.90. Continue reading »
– “Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns (ZeroHedge, Dec 21, 2014):
It was back in August 2013, when there was nothing but clear skies ahead of the US shale industry that we asked “How Much Is Oil Supporting U.S. Employment Gains?” The answer we gave:
The American Petroleum Institute said last week the U.S. oil and natural gas sector was an engine driving job growth. Eight percent of the U.S. economy is supported by the energy sector, the industry’s lobbying group said, up from the 7.7 percent recorded the last time the API examined the issue. The employment assessment came as the Energy Department said oil and gas production continued to make gains across the board. With the right energy policies in place, API said the economy could grow even more. But with oil and gas production already at record levels, the narrative over the jobs prospects may be failing on its own accord…. The API’s report said each of the direct jobs in the oil and natural gas industry translated to 2.8 jobs in other sectors of the U.S. economy. That in turn translates to a total impact on U.S. gross domestic product of $1.2 trillion, the study found.
– JPMorgan Rushed to Hire Trader Who Suggested on His Resume That He Knew How to Game Electric Markets (Wall Street On Parade, Dec 3, 2014):
On April 29, 2010 at 7:47 in the evening, Francis Dunleavy, the head of Principal Investing within the JPMorgan Commodities Group fired off a terse email to a colleague, Rob Cauthen. The email read: “Please get him in ASAP.”
The man that Dunleavy wanted to be interviewed “ASAP” was John Howard Bartholomew, a young man who had just obtained his law degree from George Washington University two years prior. But it wasn’t his law degree that Bartholomew decided to feature at the very top of the resume he sent to JPMorgan; it was the fact that while working at Southern California Edison in Power Procurement, he had “identified a flaw in the market mechanism Bid Cost Recovery that is causing the CAISO [the California grid operator] to misallocate millions of dollars.” Bartholomew goes on to brag in his resume that he had “showed how units in reliability areas can increase profits by 400%.” Continue reading »