Random Thoughts from an Organized Mind: JP Morgan

While this piece speculates about a conspiracy wrapped inside a conspiracy, I've always had my suspicions on who the price suppressors of gold and silver are. The usual suspects are easy targets: the Fed and other central planners want lower precious metals prices to mask their massive counterfeiting schemes globally.

But the Chinese have motives too: they are accumulating gold in exchange for US Treasury bonds because they understand the USDollar will lose its reserve currency status soon, and the Chinese want the yen to have a seat at the global reserve currency table. With gold-backing, the yuan strengthens its case substantially--as will the Russian ruble.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/30_Poker_End_Game_-_JP_Morgan%2C_Fed%2C_US_Treasury%2C_China_%26_Gold.html

Monday, August 19, 2013

Paulson’s out… But JP Morgan and Goldman Sachs Are in: Go Long Gold!

http://dailyreckoning.com/paulsons-out-but-jp-morgan-and-goldman-sachs-are-in-go-long-gold/?utm_source=feedburner&utm_medium=feed%26utm_campaign=Feed%3A+dailyreckoning+%28The+Daily+Reckoning%29

Wednesday, August 14, 2013

Is This Why Gold Is Spiking?

I told you guys: JPMorgan is scrambling for physical gold, as inventories in their vaults and at the COMEX are plummeting. This recent price spike was inevitable.

http://www.zerohedge.com/news/2013-08-14/why-gold-spiking

Tuesday, August 13, 2013

Part 1- JP Morgan Silver Manipulation Explained

http://youtu.be/Gl47z2g2EvI

Friday, August 9, 2013

Ted Butler on JPMorgan cornering the gold futures market

http://www.butlerresearch.com/

I know that it may seem that I have been making a big deal out of JPMorgan’s newly acquired massive net long position in COMEX gold, but in truth, there is nothing more important. Let me rephrase that – nothing even comes close to being as important than the concentrated long position that JPMorgan holds in COMEX gold futures. Others can persist in trying to divine the undocumented statistics and pronouncements from the LBMA, or in what central banks may or may not be doing; I wish them well. For me, I’m sticking to the hard data that can be verified.

What that hard data tell me is that JPMorgan has, effectively, cornered the gold market. Think I’m exaggerating? This week’s COT report indicates that the 4 biggest longs hold 140,550 contracts. That is a very hard number derived by multiplying total COMEX gold open interest of 397,035 contracts by the percent of 35.4% held by the 4 largest traders on a net basis from either the futures only disaggregated or legacy long form reports. (The CFTC doesn’t give you the concentrated figures in contract terms; you must do some minor calculations to get them). Of the 140,550 contracts held net long by the 4 largest traders, I am calculating that JPMorgan holds 85,000 contracts based upon previous COT and Bank Participation Report data. Please stick with me a minute while I go over some basic numbers.

By subtracting the total number of spread contracts listed in the disaggregated COT report of 60,802 contracts from the total open interest of 397,035 on the cut-off date, there remains a true net total open interest of 336,233 contracts in COMEX gold futures. Dividing those 336,233 contracts into the 85,000 contracts that JPMorgan holds, the resultant percentage is 25.3%. In simple terms, JPMorgan holds more than 25% of the entire COMEX gold futures market on a true net basis. There has never been a more concentrated net long position in any major regulated futures market in history. Not even the Hunt Brothers in COMEX silver in 1980 or the Sumitomo copper trader, both found to have manipulated markets by means of a corner, held as much a share of the market as JPMorgan holds now in COMEX gold futures. Here’s very recent account of the Sumitomo copper manipulation, by a trader named “Mr. 5%’’http://au.finance.yahoo.com/news/copper-king-empire-built-manipulation-154800854.html Keep in mind, that JPMorgan’s concentration in COMEX gold futures is five times the copper manipulation level. If a 25% net share of a market does not represent a corner, then that term has no meaning. I’m not alleging that JPMorgan owns 25% of all the gold in the world, as that would be impossible. Heretofore, I would have insisted that owning 25% of the COMEX gold market was impossible, but no longer. - Ted Butler

Tuesday, July 30, 2013

JP Morgan Accused Of Manipulating US Energy Markets Using 8 Different Trading Strategies

Those of us from the lunatic fringe blogosphere who alleged that Blythe Masters was at the vortex of precious metals price manipulation were labeled "conspiracy theorists" several years ago.

Here is proof, as I did a quick search for "Blythe Masters" in this blog alone, and a plethora of blog entries came up. Take a look: http://gregnguyen.blogspot.com/search?q=blythe+masters

The status quo apologists consistently denied that JPMorgan was manipulating markets. "No, they are merely making markets and providing much-need liquidity" was the canned response from the talking heads on financial TV.

The smoking gun was the $6 billion loss from JPMorgan's London Whale trader. It was a big "oops" for CEO Jamie Dimon and Masters, who heads their commodities trading desk, because they had just testified that they were flat, and did not take big directional bets on their proprietary trades.

A year later, JPMorgan is being investigated for manipulating the energy markets, Enron-style. But hey, the gold and silver markets are so much smaller, so it's impossible for them to manipulate those markets also, right? I mean, JPMorgan happens to be the custodian for SLV, the silver ETF trust. It's a classic case of the wolf guarding the hen house. Surely, Blythe's hands are clean.

After all, she does take credit for creating that wonderful financial instrument which would have plundered the financial world back to the stone age had taxpayers not bailed banks out--the credit default swap.

“The greatest trick the devil ever played was convincing the world that he did not exist.”

― Charles Baudelaire

Maybe, that he was a she.

http://www.businessinsider.com.au/jpm-accused-of-energy-market-manipulation-2013-7

By the way, notice this article was printed in Australia. Apparently, JPMorgan and the banking cartel are off-limits for the US media.