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“Hello HSBC, This Is JPMorgan – We Urgently Need Some Of Your Gold”

Posted By admin On August 8, 2013 @ 5:32 am In Money Watch | Comments Disabled

Zero Hedge [1]
Aug 8, 2013

What happens when 63.5K ounces of registered gold in your warehouse (16% of total) just has their warrants detached and the vault is about to finds itself 63.5k ounces of gold emptier? If you are JPM you call the gold vault with most inventory in town, that of HSBC, and politely request that they transfer as much eligible gold as they can on short notice – in this case a tiny 6,444.936 oz to be exact.

None of which changes the fact that in a few days, the inventory in JPM’s gold vault will drop to another record low of only 380K ounces and the JPM “rescue” pleas from HSBC and other Comex members will become ever louder and more desperate until one day they may just go straight to voicemail.

Hello HSBC, This Is JPMorgan   We Urgently Need Some Of Your Gold HSBC%20to%20JPM 0 [2]

Source: COMEX [3]


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URL to article: http://www.prisonplanet.com/hello-hsbc-this-is-jpmorgan-we-urgently-need-some-of-your-gold.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-08-07/hello-hsbc-jpmorgan-we-urgently-need-some-your-gold

[2] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/08/HSBC%20to%20JPM.jpg

[3] COMEX: http://www.cmegroup.com/trading/energy/files/Gold_Stocks.xls

[4] JPMorgan’s Eligible Gold Plummets 65% In 24 Hours To All Time Low: http://www.prisonplanet.com/jpmorgans-eligible-gold-plummets-65-in-24-hours-to-all-time-low.html

[5] “Hello Scotia Mocatta, It’s JPMorgan… Yes, Again… We Need More Gold”: http://www.prisonplanet.com/hello-scotia-mocatta-its-jpmorgan-yes-again-we-need-more-gold.html

[6] 9,173 Ounces Of Gold Transferred From HSBC To JP Morgan Gold Vaults Overnight: http://www.prisonplanet.com/9173-ounces-of-gold-transferred-from-hsbc-to-jp-morgan-gold-vaults-overnight.html

[7] Ex-Goldman trader blows whistle on silver and gold manipulation by JPMorgan, HSBC: http://www.prisonplanet.com/ex-goldman-trader-blows-whistle-on-silver-and-gold-manipulation-by-jpmorgan-hsbc.html

[8] JPMorgan Reopens New York Gold Vault, Concurrently Launches Vaulting Facility In Asia (In Desperate Bid For Physical?): http://www.prisonplanet.com/jpmorgan-reopens-new-york-gold-vault-concurrently-launches-vaulting-facility-in-asia-in-desperate-bid-for-physical.html

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