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Uh-oh

derrybderryb Posts: 36,824 ✭✭✭✭✭
in Precious Metals
Did COMEX Just Receive A Physical Gold Bailout From The Feds via JPM?

"They faced net claims of 550,000 troy ounces against only 370,000 registered ounces left at the COMEX warehouses. That left a deficiency of 170,000 ounces, or 5.29 tons of gold. That same day, JPMorgan Chase transferred 177,402 troy ounces of gold into COMEX registered gold stockpiles - just enough to cover the shortfall at maturity, plus some extra to cover the additional buying that always happens during an average delivery month."

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    "Declassified documents, along with strong circumstantial evidence indicate that it was not JPMorgan, but its most important customer, the US Federal Reserve, that just bailed out COMEX."

    Well, I'm not going to hold my breath to see if there is any substance to his allegation. I'll let the price of gold do the talking and so far it's still in a coma.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>"Declassified documents, along with strong circumstantial evidence indicate that it was not JPMorgan, but its most important customer, the US Federal Reserve, that just bailed out COMEX."

    Well, I'm not going to hold my breath to see if there is any substance to his allegation. I'll let the price of gold do the talking and so far it's still in a coma. >>



    This.
    theknowitalltroll;
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i> I'll let the price of gold do the talking and so far it's still in a coma. >>


    The COMEX got a reprieve, back to business as usual. image

    When they don't get bailed out is when the price will start talking to you. The fact that they needed a bailout is the wake up call for those still sleeping.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    The original JP Morgan in 1907 and his successors in 2015.

    That must have been SOME phone call.

    Hey Louie this is Vito ...I need a favor. We're a little tight right now...could you carry me until I get a chance to change some rules
    Have a nice day
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Amazing how we beg for vindication.

    The PM pushers must not think very highly of their customers' intelligence.

    HOw does it feel to be a pawn? Lol
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Ah the information age.... tough to hide things.... however, business as usual. Cheers, RickO
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