CME Declares Force Majeure at Manhattan Gold Depository

Where there is smoke, there is fire.  Paper certificates may be irreparably damaged by flooding, but gold bars are indestructible by water--or even fire (i.e., it is merely melted down).  Hurricane Sandy is providing a convenient scapegoat for those whose vaults are empty, and a declaration of force majeure is the ultimate cover, SOMETHING WE HAVE PREDICTED MANY TIMES.

This is the language centered around a force majeure to provide cover for the CME:

In a notice to customers on Monday, CME declared force majeure, a contract clause that frees parties from liability due to an event outside of their control, for the facility.

In a notice to customers on Monday, CME declared force majeure, a contract clause that frees parties from liability due to an event outside of their control, for the facility.

Read more: h

Folks, the time has cometh.  The shortage in physical gold (and silver) is now forcing depositories to short-deliver physical inventory, as it just doesn't exist.  People who believe they have legal claim to physical inventory only own a paper certificate, with physical delivery another proposition.  The CME's vaults are half empty, so they have had to resort to blaming Mother Nature, covering up the fact that the emperor has no clothes (gold).  The masses have been hoodwinked--again.

YOU HAVE BEEN WARNED--many times.

CME Declares Force Majeure at Manhattan Gold Depository

Read more: http://www.foxbusiness.com/news/2012/11/26/cme-declares-force-majeure-at-manhattan-gold-depository/#ixzz2DSbXUFLB

http://www.foxbusiness.com/news/2012/11/26/cme-declares-force-majeure-at-manhattan-gold-depository/

JP MORGUE INCREASES PHYSICAL SILVER IN NEW VAULT 39% IN 2 DAYS!

As I suspected, JPMorgan needed to load up on physical silver to meet future delivery obligations.  How to do it?  Drive down the paper price of silver and force physical liquidation out of SLV vaults.  Oh, and by the way, JPMorgan is the the custodian for SLV! 

http://silverdoctors.blogspot.com/2011/05/jp-morgue-increases-physical-silver-in.html

HSBC kicking out retail customers holding gold

According to the Wall Street Journal:

Fleets of armored trucks piled with gold bars and coins have been streaming out of midtown Manhattan in one unexpected consequence of the gold craze.

Amid gold's rise -- it has gained 32% this year and reached a record on Monday -- investors have been loading up on bullion and coins. One big problem now is where to store it. The solution from HSBC, owner of one of the biggest vaults in the U.S.: somewhere else.

HSBC has told retail clients to remove their small holdings from its fortress beneath its tower on New York City's Fifth Avenue.

HSBC and other banks don't earn fees from clients buying physical gold and silver. I guess that's why they kicked clients out of their safety deposit boxes.