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
****
http://www.silverdoctors.com/breaking-massive-fire-reported-in-basement-of-1-chase-manhattan-plaza-force-majeure/
http://harveyorgan.blogspot.com/2013/07/july-192013gld-falls-another-271.html
****
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 Tonight 90,311.162 oz of gold was withdrawn out of the customer JPMorgan gold account and probably this completely settles the customer shortfall.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??
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/
JPM vault fire
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Thread: Banks down for maintenance??? (Page 9)
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