Jesse: Record COMEX Gold Claims Per Deliverable Ounce at 79 to 1 GLD, MUX, TNR.v, GDX

  

  Jesse reports that the Game Of Musial Chairs in the Western Fractional Gold Reserve System is getting into the new stage with the record level of leverage. Now report from Bloomberg can be put into another perspective. 

Bloomberg: London Gold Vaults Are Virtually Empty GLD, MUX, TNR.v, GDX

Bloomberg quite suddenly provides some really interesting information about the state of the gold market and ongoing manipulations around it these days. Could the reports about JPMorgan being Net Long Gold now be correct in the end?

Government Interventions In Gold Market: "The Double Face of Gold" GLD, MUX, TNR.v, GDX

 "We have the second part of the interview with Dmitri Speck revealing the ongoing Government interventions in the Gold market. This view from Europe on the Gold Cartel and Government Interventions in Gold market is particularly important now with the announced investigations in the Gold Market manipulation by German and UK financial regulators."

Jesse Cafe Americain:

Comex Claims Per Deliverable Ounce at 79 to 1

Not to worry, JP Morgan has the situation well in hand.

They are just recycling the deliverable for the next go round in the next active month, February. 

What could go wrong?

COMEX Gold Inventories Hit New Low GLD, GDX, MUX, TNR.v

   SRSrocco reports on further deterioration of the COMEX Gold inventories available for deliveries. You can guess who is taking now all deliveries. The game of musical chairs for fractional Gold bullion system has begun. This time it is HSBC taking the heat.

Eric Sprott: "China Bought 60% of Gold Production Last Month, I Am Buying Gold And Silver Stocks Now." MUX, TNR.v

"Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."

  This summer we had the capitulation in Gold and Silver stocks with the following turn around and now we are looking to the Eric Sprott and Rick Rule for guidance to run this new Bull. China will play the very important role in this big picture, according to Eric."

SRSrocco Report:

Comex Gold Inventories Hit New Low

It looks like the stagnate two month bottom in the Comex Gold inventories is now over as a huge withdrawal from HSBC has taken the total warehouse stocks to a new low not seen since 2006.

As you can see from the table, 173,358 oz of gold were withdrawn from HSBC’s Eligible category.  While this withdrawal was only 5.5% of HSBC’s Eligible (Customer) inventory, it would have totally wiped out Brinks, HSBC, Scotia Mocatta, and most of JP Morgan’s Registered inventories.

This single withdrawal was more than what most of these individual banks held in their Registered Inventories.  Furthermore, the 173,358 oz withdrawn from HSBC is 5.4 tonnes of gold… now more than likely gone forever from the Comex.

Not only does this large withdrawal from HSBC break the two month flat line bottom, but it also puts the Comex Gold Inventories at a NEW LOW not seen since 2006:

Here we can see in the one month chart below what a huge decline has taken place as it does not fit on the chart.  This chart will not be updated until tomorrow, so I stretched the graph to include the new data point which is now at 6,860,160 oz.

Another surprising trend is taking place on the GLD inventories.  Since the price of gold bottomed in the beginning of July, the level of gold at the GLD is 1,887,419 ounces less even though the price has rallied nearly 12%.

On July 1st, the gold inventory at the GLD stood at 31,131,769 oz while the price of gold bottomed at $1,180.  Today, gold ended the day at $1,323, but the total gold inventory at the GLD is 29,244,351 oz.  For some odd reason, the GLD is not adding gold as readily now that the price has increased compared to how it was drained as the price declined.

There seems to be an orchestrated effort by the Gold Cartel to convince investors not to purchase physical gold.  As I mentioned in a previous article, the World Gold Council has announced the following:

World Gold Council Promoting Gold ETFs with New Program

(Kitco News) - Weak investor demand in gold markets remains a major concern as outflows continue to plague gold-backed exchange-traded funds.

However, the World Gold Council is trying to change investors’ perceptions of the yellow metal with the creation of a new program. On Thursday, the council announced the appointment of William Rhind as the managing director of its new Institutional Investment Program.

According to the WGC, Rhind will be “responsible for developing and implementing initiatives focused on expanding the use of SPDR Gold Shares (NYSE: GLD) and other physical gold-backed products.” GLD is the world’s biggest gold-backed ETF and since the start of the year has seen significant outflows as investors moved out of gold and into better performing equity markets.

Thus, the World Gold Council has appointed Rhind to be “Responsible for developing and implementing initiatives focused on expanding the use of the SPDR Gold Shares and other ETFS” to continue to bamboozle investors into buying worthless paper garbage gold products while making sure that MUMS the word for those who want to purchase physical metal.

There seems to be serious trouble ahead for the bullion banks as their registered inventories are at record lows.  There is no way a withdrawal of this size today could have been met by the bullion banks registered gold inventories.

There will be new updates on the COMEX & Shanghai inventories at the SRSrocco Report."

Guess Which "Bearish" Bank Bought A Record Amount Of GLD In Q2 GLD, GDX, GDXJ, MUX, TNR.v

 

  Zero Hedge reports what we have already suspected, but now it is the matter of fact and we have the clear answer Who Was Buying. We must be close to that Waking Up Moment Peter Schiff is talking about.

Matrix Strikes Back - Gold Wash Out, Goldman Advises To Sell - China Buys Physical Gold By Tons.

"It was quite a week for Gold. Goldman Sachs and JP Morgan, must be after reading our entry on Gold this week, has delivered Jim Puplava's "Puke Moment" for all Gold market investors. Gold is Trashed, all stops are taken over. We will look this weekend into the actions behind the scene and particularly who was selling and who is buying. Stay tuned..."

Peter Schiff: When Investors Wake up the Gold Price Will Soar GLD, GDX, GDXJ, MUX, TNR.v

ZeroHedge:

Guess Which "Bearish" Bank Bought A Record Amount Of GLD In Q2

"In early April, the status quo was exuberant when none other than Goldman Sachs issued a "sell" on the barbarous relic that has become so indicative of the exuberance of central planning. At the time, we were skeptical (to say the least) and, just for extra Muppetting, the bank also suggested its clients buy Treasuries. Well, now that the full details of holdings changes have been released for Q2, it is perhaps clearer than ever before that as the bank was telling its clients to "sell, sell, sell" it was itself "buy, buy, buy"-ing the Gold ETF (GLD) with both arms and feet. In Q2, Goldman Sachs added a stunning (and record) 3.7 million 'shares' of GLD. As Paulson dumped his GLD, Goldman lapped it up to become the ETF's 7th largest holder.

Goldman was the largest adding holder for GLD...

buying what its clients were selling in size...

Don Coxe: "The Trend Has Shifted" For Commodities GDX, GDXJ, MUX, TNR.v

    

  Tekoa Da Silva has published very important article about Don Coxe recent market observations. With all unfolding crises among the BRICS currencies funds are not going to the US dollar any more, but to the Euro. The critical differences between European Central Bank policies and FED's expanding balance sheet are in play here.

  His observations about the changing trend in the commodities are extremely important - he is widely followed by the institutional investment community and they can start to reallocate their assets accordingly. The help to the commodities  markets came from the places least expected: China reviving growth and Europe coming out of recession.

  This move will be highly beneficial for our darlings: McEwen Mining and TNR Gold with world class Los Azules copper deposit unlocking its value.

Rick Rule On Gold & Resources: "The Stage Is Set For An Absolutely Dramatic Recovery" TNR.v, MUX

"Then, suddenly, after a few weeks of the water torture without any direction in the market, selected stocks start to move by 10 - 20 percent a day. Sellers are gone and Pros are picking up the pieces for cents on the dollar value - the new Bull market is born. 

  To make this dramatic and pleasant for Survivors picture come true we need just one thing - Pros with the money coming into the market, without them it will always be only the wishful thinking. We can see them coming now."

Gold Breakout: Jim Sinclair - The three entities that called the $1900 in gold are back long. GLD, SLV, GDX, MUX, TNR.v

"Now we have the full A Team calling for the New Bull Leg in Gold. Summer doll drums time out is officially over. Gold was over 1400 intraday and Silver is over 24 now. Junior miners are exploding to the upside with McEwen Mining pushing 3 dollar mark. Survived Juniors will show this Fall what is called the ten baggers again."

Bull Market Thinking:

Don Coxe: "The Trend Has Shifted" For Commodities 

Don Coxe, Chairman of Coxe Advisors LLP, has issued a powerful new weekly review of the global capital markets, entitled, “This Time
When the BRICs Tumble The Euro is the Haven.” 

In this updated conference call, Don spoke to the returning strength of commodities, the true impetus behind J.P. Morgan exiting the metals warehousing business, and what investors should be doing right now in considering commodities.

Beginning at the 13:30 mark, Don noted that:

“Commodities collectively, are a cyclical bet…the CRB bottomed out in June and is up sharply since then…gold bottomed out at that time and it’s moved up to a pretty good level…$1391 doesn’t sound as good as to compared to where it was a year ago, but once again—the trend has shifted.”

“Commodities are demonstrating that there is new strength, and then we see the tremendous change in China’s imports of commodities, a record level of import in July of iron ore. We’ve seen the leap in the price of copper, and one of the things that is helping the commodity situation…is that JP Morgan has been forced by governments, the CFTC, and by the supervisors in Washington, to get out of operating their metals warehouses. The reason they did [so] was not because of ideology, but because so many congressman were being contacted by their constituents, who said ‘We cannot get the metals from the Morgan warehouses—they own these warehouses, we can’t even get aluminum,’ which is the one that has the biggest inventories of all time, [but] they tell us nine-months delay for delivery.”

“So [what] you should be doing now…I believe that you should certainly be increasing your exposure to the good commodity stocks…if you believe in stronger economic growth, and you’re not fooled by the fact that these emerging markets right now are having trouble adjusting.”

“China is once again coming through this pretty unscathed, and that means that you’ve got a great source of stability—and of course you’ve got a new player, which is the oldest of old players, Japan, to the plus side.” 

“So it’s a time where you can have a greater confidence level in demand for basic materials.”

—

Editor’s Note: Don Coxe may be launching a subscription service soon. His conference calls and market comments are currently all free, and available at the website link below. So this is a fantastic opportunity to hear and learn from Don every week—which may not be here for very long. Please take advantage of it.

To learn more about Don Coxe (and to follow his regular work) visit: CoxeAdvisors.com"

Rothschild Conspiracy International Banking Cartel and The Federal Reserve

"Rothschild Conspiracy: A documentary looking at banking tycoons: from the Rothschild family in Europe to JP Morgan and others in the US. How banks not only control governments but also appoint politicians through huge campaign donations. 

Governments at the service of the major banks, the best example: the Obama administration and the history's biggest bail out of the same institutions that caused the Great Recession.Also looking at the International Banking Cartel led by the Bank for International Settlement (in Basel, Switzerland) known as the bank of central banks (58 central banks) and The US Federal reserve System."

  These days Cartel is feeling the heat at least in the Gold market, but will we ever have the real choice and free markets -  you will decide. We will provide as much information as we can that you will not be left behind during the Great Wealth Transfer of this century and will understand the place for Gold in this ultimate Ponzi scheme run by the the Central Banks.

Does one 'super-corporation' run the global economy? - The Network of Global Corporate Control

Golden Age. Planet Ponzi. All You Need Is Love. Happy New Year 2013!

"As Mitch Feierstein explains in his book "Planet Ponzi", you will not get much anything else if you are not in the Circle of Old Boyz. Oh ye, oops: we are wrong here - we will All get our Taxes Increased, Starting with Inflation. We will All get the Bill left from Those who continue to Party even now.

  Suck it up my friends, just suck it up. If you are not on the Payroll in Washington, DC or with other Members of the Oldest Pioneer Organisation - we are All pretty much ... (Add the Spice here to your liking)."

The History Of Money And Why US Dollars Are Issued By Private Bank - Federal Reserve System

"We are at the very important point in the history of the modern financial system. The recent events in Europe  are no less than ground-changing historical  development and the magnitude of it will be understood only many years later. European countries are giving up their Sovereignty in order to save the Euro zone. Now the history of money will be your guide to the new order, when the New Normal will be transformed into the New World Order. 

  Private FED manipulates all markets now and has the right at its own discretion to increase the FED rate at any moment, which will increase all interest rates in a chain: mortgage payments, car loans, student loans, credit card loans, business loans etc. Should FED decide to stop monetary expansion at some point: QEn+1 and Twists - yields on the Treasuries will explode. U.S. is at the total mercy of the unelected managers running the private bank. You would think: who can do such a thing, which will bring a total collapse to the world economy - watch the movies to get your own answer. The idea to buy the assets for pennies on the dollar can be irresistible again."

Sci-Fi Movie Script: "Federal Reserve - Keeping The Strong US Dollar Policy From 1913 - Established To 

Serve and Protect" GS, JPM, BAK, C, HBC

Silver & Gold - Hidden Secrets Of Money - Seven Stages Of Empire

What Is Our Money And Why China Plans To Move To A Gold Backed Yuan Currency.

"We have more and more news coming out about the tectonic shift in geopolitical landscape and ongoing Currency Wars. China learns very fast, even if Maestro Greenspan has already forgotten the ancient wisdom. Further education will help to understand our flawed monetary system and the value of gold for the investors even if Bernanke, who is busy destroying the US Dollar with the FED "does not have any clue about it."

Gold Manipulations: GATA's Chris Powell on Suspicious Activity at the BoE & JP Morgan's Commodity Exit

"The story about "Missing 1300 Tonnes of Gold from BOE" is making its way to the mass media.  Situation for LBMA participants is getting from bad to plain desperate according to the findings by Alasdair Macleod and ZeroHedge."

"The Illuminati Were Amateurs" - Matt Taibbi Explains How "Everything Is Rigged" From LIBOR to Gold Markets

"Matt Taibbi continues his investigative journalism at its best - will his longly voice in the mainstream media be heard one day finally? With the recent Crash in Paper Gold market this new information clearly points out that Gold Shorts under the JP Morgan's management are in a Big Trouble Now."

Matt Taibbi: Is JPMorgan Too Big To Chase? Will The Gold Market Manipulation Be Exposed Next?

"Matt Taibbi continues his brilliant reporting on the world of shadows and "New Normal" on the Planet Ponzi. We are just patiently waiting now when the revelations about the Gold manipulations will hit the mass media. 
 In our quest for knowledge we are trying to get the grasp how Detroit Bankruptcy can coincide with the general markets at all-time-high and population on the food stamps in the US at the same all-time-high level as well. Matt Taibbi, David Stockman, Bill Murphy and Peter Shiff can help us here."

Matt Taibbi: Is JPMorgan Too Big To Chase? Will The Gold Market Manipulation Be Exposed Next?

 

  Update. July 30th, 2013. 

Now these Jamie Dimon's cufflinks explain everything. "Brothers" and Gold Manipulation - anyone?

ZeroHedge:

JPMorgan: $7 Billion In "Fines" In Just The Past Two Years

  Matt Taibbi continues his brilliant reporting on the world of shadows and "New Normal" on the Planet Ponzi. We are just patiently waiting now when the revelations about the Gold manipulations will hit the mass media. 
 In our quest for knowledge we are trying to get the grasp how Detroit Bankruptcy can coincide with the general markets at all-time-high and population on the food stamps in the US at the same all-time-high level as well. Matt Taibbi, David Stockman, Bill Murphy and Peter Shiff can help us here.

JPM Gold Vault Chronicles: Eligible Gold Plummets By 66% In One Day To Just Over 1 Tonne, Total Gold At Fresh All Time Low

  JPMorgan's all-time-low number of the Eligible COMEX Gold, could open the new chapter in the history of this bank and can bring all the LBMA scam of "Fractional Gold Reserve System" down in the very near future.

GATA's Bill Murphy On The Manipulated Gold Drop

"We have more and more evidence about the manipulation in the Gold market in order to save the day of the former reserve currency of choice - US Dollar.  Markets can not be manipulated forever - Gold's come back will surprise a lot of investors. China will be writing a lot of "Thank you" cards to the "clueless Bernanke".

Peter Schiff: So Goes Detroit, Bernanke's Gold Confession, Obama's ACA Lies

"The most dangerous words in the investment world: "It Is Different This Time". With Bernanke's admission that he does not have a clue what Gold really means, we are heading to the big trouble. Detroit will bring back the question whether Debt levels  are important on The Planet Ponzi any more." 

David Stockman: The Great Deformation

"Great Deformation" by David Stockman is one of the best books we have read and will be a very good investment in your personal education."

"The Illuminati Were Amateurs" - Matt Taibbi Explains How "Everything Is Rigged" From LIBOR to Gold Markets

"Matt Taibbi continues his investigative journalism at its best - will his longly voice in the mainstream media be heard one day finally? With the recent Crash in Paper Gold market this new information clearly points out that Gold Shorts under the JP Morgan's management are in a Big Trouble Now."

RollingStone:

Chase, Once Considered "The Good Bank," Is About to Pay Another Massive Settlement

By MATT TAIBBI

POSTED: July 18

"During the financial crisis, while Dr. Evil-ish Wall Street villains like Goldman and Lehman Brothers were getting all the bad press, pundits continually referred to J.P. Morgan Chase as the "good bank." The myth of Chase as the finance sector's one upstanding rock of rectitude reached its zenith in July of 2009 with an embarrassingly hagiographic piece in the New York Times entitled, "In Washington, One Bank Chief Still Holds Sway." In that one, the paper breathlessly praised Jamie Dimon for emerging from "the disgrace of his industry" to become Barack Obama's "favorite banker."

Chase and Jamie Dimon kept that rep for a good long time. As late as 2011, Dimon's name was being floated around Washington very seriously as a potential replacement for Tim Geithner's Treasury Secretary post. Even when Dimon showed up on the Hill last year to testify (read: obfuscate) about the infamous "London Whale" episode, Senators on the banking committee – who, as writer George Zornick noted, had collected a cumulative $522,088 in donations from Chase – slobbered all over Dimon and shelved the important London Whale matter to ask the great genius's advice on how to fix the economy.

Well, there's some more news about the "good bank" – Chase is about to pay yet another ginormous settlement for cheating and stealing from the public. According to the Wall Street Journal, the Federal Energy Regulatory Commission (FERC) will fine Chase "close to $1 billion" for manipulating energy prices in Enron-esque fashion in Michigan and California. The story is interesting in itself – and we'll write more about it later – but for now, it's just the fact of yet another massive settlement for this bank that's so interesting.

In the three-year period between 2009-2012, Chase paid out over $16 billion in litigation costs. Noted financial analyst Josh Rosner of Graham Fisher slammed Chase in a report earlier this year, pointing out that these settlements and legal costs represented a staggering 12% of Chase's net revenue during this time. There couldn't possibly be a clearer demonstration of the modern banking model, in which companies break rules/laws as a matter of course, and simply pay fines as a cost – a significant cost – of doing business.

For sheer curiosity's sake, I thought I'd list, in capsule form, some of the capers Chase has been caught up in in recent years:

• They were fined $153 million for the infamous "Magnetar" fund case, another scam in which a bank allowed a hedge fund to create a "born-to-lose" mortgage portfolio to bet against. Very similar to the Abacus case that's at the heart of the ongoing "Fabulous Fab" trial;

• Chase paid $228 million for its role in the egregious municipal bond bid-rigging case we wrote about in Rolling Stone in 2011;

• Chase paid $297 million to the SEC last November for fraud involving mortgage-backed securities;

• Chase paid $75 million in cash and generously agreed to forego $647 million in fines in the Jefferson County, Alabama mess, in which a small-town pol was bribed into green-lighting a series of deadly swap deals;

• In two separate orders this spring, Chase was reprimanded by the OCC and the Fed for money-laundering behaviors similar to the infamous HSBC case, and also for regulatory failures and fraud in the London Whale episode. There was a separate FBI investigation into the London Whale probe in which they allegedly lied to customers and investors about the loss;

• They're under investigation for allegedly failing to disclose Bernie Madoff's trading activities to authorities;

• They were one of 13 banks asked to pay up in this year's $9.3 billion robosigning settlement;

• They were one of four banks last year to settle for a total of $394 million with the OCC for improper mortgage servicing practices;

• They were ordered by the CFTC to pay $20 million last year for improper segregation of customer funds (this was part of the Lehman investigation). The CFTC also fined Chase $600,000 last year for violating position limits in the cotton markets;

• Last year, Chase paid a $45 million settlement to the federal government for improperly racking up fees for veterans in mortgage refinancings. Hey, if you're going to steal from everyone, you can't leave out those veterans overseas!

• In 2010, Chase paid $25 million to the state of Florida for selling unregistered bonds to a state-run municipal money-market fund;

• The bank last year was convicted in Europe along with several other banks for fraudulent sales of derivatives to the city of Milan. A total of about $120 million was seized from Chase and three other banks.

There have been so many settlements with so many agencies around the world (I'm in a hurry and can't get to Chase's messes in Britain, Japan and elsewhere) that they're almost impossible to count. Some papers are reporting that Chase is being investigated by as many as eight different agencies in the U.S. alone.

There are some other civil actions left out, too, like the $110 million class-action settlement for improper charging of overdraft fees, or their part in the gigantic $6 billion settlement completed last year involving Visa, MasterCard and other credit card providers for manipulating card service rates. And states like California have only just begun crawling up Chase's backside for its role in the lunatic filing of erroneous credit card collection lawsuits, a scam outed by whistleblower Linda Almonte.

Chase is turning into the Zelig of the corruption era. In virtually every corruption scandal, the bank is in the background somewhere. The HSBC money-laundering mess? Chase was reprimanded for similar abuses. The Madoff story? They're under investigation there. MF Global? As banker to Jon Corzine's notorious firm, they were part of a $546 million settlement to return money to MF Global's outraged customers. Jefferson County? That was them. And again, you might have heard of Abacus, but Magnetar was just as bad. Not that anyone's counting or anything.

Memo to colleagues on the White House pool: could someone please ask the president if Jamie Dimon is still his favorite banker?"