Sunday, July 21, 2013

JP Morgan allegedly has a massive fire in their basement vault Saturday night ? You must be joking , right ? Well , I have been wondering how those unfulfilled contracts for June were ever going to met by JP Morgan when the contracts unfilled continue to exceed JP Morgan;s registered gold ! Can you say Force Majeure ?

Well , while this seems to loony to be true - but the tweets from the FDNY seem legit ( how could one have a fire in a vault with their fire prevention systems anyway ? )  Just really interesting timing as JP Morgan's customer gold has been essentially drained and they don't apparently have registered gold in their vault to meet outstanding contracts for June ( See Harvey Organ , who  has been beating this drum relentlessly - note the key entries from his post from Friday below ....)


http://harveyorgan.blogspot.com/2013/07/july-192013gld-falls-another-271.html

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JPMorgan's customer inventory plummets tonight to only 46,069.447  oz or 1.43 tonnes.  It's dealer inventory rests at 390,092.326 oz (12.13 tonnes) but it still must settle upon contracts issued in the May and June delivery month which far exceeds its inventory.  (see Wednesday's  Bill Kaye interview with Lars Schall on the lack of deliveries at the comex per outstanding issues).  Tonight 90,311.162 oz of gold was withdrawn out of the customer JPMorgan gold account and probably this completely settles the customer shortfall.  They are still deficient on their dealer side.

****

we will now account for the new data tonight:

Thus,  5024 notices have been issued by JPMorgan (dealer side) for the month  of June until today  for 502,400 oz  and these ounces have yet to settle from JPMorgan's dealer side.


JPMorgan's dealer vault registers tonight 390,092.326 oz.

Somehow we have a huge negative balance as   i) the gold has not left JPMorgan's dealer account and has yet to settle

and

ii) it is now deficient by 102,307.68 oz   (390,092.326 inventory - 502,400 oz issued =  -112,307.68 oz)

In other words, the entire 390,092.326 oz must be first transferred out of Morgan's dealer category ( in the same format as in the customer category) leaving it with zero,  plus the 112,307.68 of additional deficient gold

JPMorgan has not had any deposits in gold in quite some time. As a matter of fact, zero ounces has entered on the dealer side from the beginning of 2013.


How will JPMorgan satisfy this shortfall??







http://www.silverdoctors.com/breaking-massive-fire-reported-in-basement-of-1-chase-manhattan-plaza-force-majeure/


*BREAKING* MASSIVE FIRE REPORTED IN JP MORGAN BASEMENT VAULT! GOLD FORCE MAJEURE?

JPM Chase fire*UPDATE: FDNY tweet confirms fire is in a commercial vault!
A journalist on scene on Wall Street this evening has just sent us footage of a massive fleet of Firetrucks and ambulances in front of JP Morgan’s headquarters at 1 Chase Manhattan Plaza, with fire-fighters stating they are responding to a COMMERCIAL VAULT FIRE IN THE BASEMENT!

With JPM’s gold inventory plunging 66% Friday to an all-time low of 46,000 ounces, and with reportedly over 502,000 ounces still standing against JPM for the JUNE gold contract, is the long anticipated force-majeure event in progress?
Video footage on scene is below:

  1. I’m broadcasting fire engines on Wall Street live on #Ustream. Come watch and chat! 7:43 PMhttp://ustre.am/FIGI 
    Followed by Ken Lundgreen and 1 other
  2. Anyone knows what happened around wall street and broad? Fire trucks and ambulances everywhere
 *Update:  We have been unable to find any coverage of the situation on any MSM media outlet, which implies the event may likely have been a black-ops drill, or could be simply light weekend staffing as the fire occurred late Saturday evening. 
We will keep readers updated as more info becomes available. -
*Update 2:  While firefighters on scene stated fire was in the basement of JPM at 1 Chase Manhattan Plaza, FDNY confirms via twitter that the fire is in the VAULT at JPMorgan’s former HQ at 15 Broad St!!!
  1. MAN ALL HANDS 15 BROAD ST, COMMERCIAL FIRE IN BASEMENT, UNDER CONTROL
  2. MAN ALL HANDS 15 BROAD ST, COMMERCIAL FIRE IN A VAULT,
Meanwhile, earlier Saturday:
Bernanke-Dimon-Fed-Tunnel
h/t StopMotionsolo
Good luck getting any sleep Saturday night if you hold any allocated “gold” on deposit at JP Morgan.


Comments from Turd Ferguson blog on JP Morgan fire.....

JPM vault fire

Morning all
Went looking for further info on this story and my search threw up this link:
FDNY Confirms Fire in JPMorgan/Chase Vault
See this link from FDNY on Twitter:
[link to twitter.com (secure)]
Here is the location on Google Maps:
[link to maps.google.com (secure)]
Here is the video of the event on YouTube:
[link to www.youtube.com]
This on top of numerous eyewitness reports of banks being down for maintenance this weekend.
Thread: Banks down for maintenance??? (Page 9)
...End Game?
The 'banks down for maintenance' caught my attention and don't know if related in some way so thought I would post
Edited to add:  just reading through the banks down thread and someone has posted a list of banks that are supposedly down:
Sat-Sun
Citizens
Chase
RBS (UK)
Barclays (UK)
FNB
West America Bank
RBC (Canada)
Regions
Citibank
Santander (UK)
ORNL
Suncorp (AU)
Sun Trust
Sat-Mon
Loyds (UK)
Citibank (Poland)
Tues-Wed
First Financial
Space Coast Credit Union
and also the SWIFT system is down too 
What's going on??



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