JPM loses 66% of its gold in 1 day

[Large Sarge]

http://www.zerohedge.com/news/2013-07-19/jpm-eligible-gold-plummets-66-one-day-total-gold-fresh-all-time-low

[gunDriller]

"For over a month, JPMorgan managed to mysteriously avoid matching up the gold held in its (world's largest) vault with the Comex delivery notice update. However, as of today, that particular can will be kicked no more. Starting yesterday, JPM reported that just under 12,000 ounces of Eligible gold (the same Registered gold that two days earlier saw its warrants detached and convert to eligible) were withdrawn from its warehouse 100 feet below CMP 1. But it was today's move that was the kicker, as a whopping 90,311 ounces of eligible gold were withdrawn, accounting for a massive 66% of the firm's entire inventory of non-Registered gold, and leaving a token 46K ounces, or a little over 1 tonne in JPM's possession."


so, what happens next week ? JPM defaults and all the domino's fall ?

[aeondaze]

I'd like to think thats what would happen, even then it would be cash settled with little fan fare from MSM. But lets face it, these goons have all sorts of tricks up their sleeve and it would be remiss of us not to consider that this has already been thought through by them.

My guess is its definately a portender of sorts, but what is hard to figure out. Will this be the week the stock market catches up with reality and corrects with a considerable crash, all the signs are there, dow and S&P highs, same old bernank speak of tentative taper plus GOFO rates -'ve for historic length lots of mixed signals and noise from the market etc.

Something doesn't smell right, then again it has been putrid for quite some time...

[Ponce]

All the gold holders can see the future and the affect that gold will have in it......thay are also willing to go to jail (big joke) for two years in order to hold what they have......

V