In a exchange with JP Morgan Chase investors earlier this month Jamie Dimon, CEO of one of the world’s major and most powerful banks, mentioned that a more unpredictable meltdown than 2008 is forthcoming.
It was stunning confession from a man who has close connections to the Obama inner circle and was one time at the top of the list for the job of U.S. Treasury Secretary. Bearing in mind Obama persists to promote economic recuperation, and that a substantial bulk of Americans apparently think the economy is healthy and balanced, the fact that Dimon is cautioning of an additional financial crisis should be a crystal clear indication of what is to come.
However if his words are not sufficient to influence you we have a systemic issue that will soon come to the headlines, maybe the latest activities of his secretive trading desks will be sufficient.
Based on a comprehensive review from The Wealth Watchman, JP Morgan Chase has been gathering a massive stockpile of physical silver, doubtless in anticipation of a significant liquidity situation.
They’re baaaaack. Yes, “old faithful” is back at it again!
Of course, they never really left silver, and have been rigging it non-stop in the futures market, but for awhile there, there were at least no admissions of newly-stacked silver being made in their Comex warehousing facilities.
Yet, after a 16 month period of “dormancy” within their Comex warehouse vaults, these guys have returned with a vengeance.
In fact, our old buddies at JP Morgan Chase, not only see value in silver here, but they’re currently standing for delivery in their own house account in such strong numbers, that it commands our attention. Let me show you what I mean.
Here’s a breakdown of the Comex’s most recent silver deliveries to JP Morgan:
April 7th: 1,110,000 ounces
April 8th: 1,280,000 ounces
April 9th: 893,037 ounces
April 10th: 1,200,224 ounces
April 14th: 1,073,000 ounces
April 15th: 1,191,275 ounces
April 16th: 1,183,777.295 ounces
This is a huge bout of deliveries in such a short space of time. In fact, within the realm of Comex world, it’s such an exceptionally large amount, that it even creates quite a spike on the long-term chart of JP Morgan’s vault stockpile:
All in all, JP Morgan has added over 8.3 million ounces of additional silver in just the past 2 weeks alone.
You can view the entire report at The Wealth Watchman (via Steve Quayle and Realist News)
Strangely enough, it was noted this week that Chase banks will not any longer permit clients to hold cash or precious metals like silver coins in their safe deposit boxes. As they indicate an end to private storage for their clients, nevertheless, they are acquiring physical delivery of huge quantities of silver.
As The Wealth Watchman points out, JP Morgan Chase has been meticulously connected with the rigging and suppression of silver (and gold) markets for the exclusive objective of keeping the system above water. “Without the rigging of silver and gold’s price, the price rocket that would take place would torpedo world confidence in debt instruments, in inflation figures, and in the state of the global market’s health,” he claims.
But stuff may be about to transform because for the last 1 1 / 2 years or so Chase’s silver purchase have been in a time of dormancy. This prompts the question, why now?
So, it stands to reason…
That IF JP Morgan has reached the point where it’s looking to “score big” on a silver run-up, then it’s only because the system itself has run its course,and there is nothing left to steal. As I have long stated, I expect the big “escape” of silver’s price to only occur once their system is done.
It seems that the end game is inevitable.
This would clarify why the elite are purchasing secret hideaways, why the government continues to be simulating economic collapse situations and the civil unrest that will carry out, and why Jamie Dimon has told his firm to be one of the most significant owners of precious metals on the face of the earth.