JP Morgan Mystery Fire – Where’s Your Gold?

Reading time: 263 words, 1 page, 1 minute plus video.

A massive fleet of fire trucks and ambulances stretches around the block at JP Morgan’s New York headquarters apparently responding to a “commercial vault fire in the basement”.

Just as the collapse of the Twin Towers and Building 7 conveniently destroyed the records of the Enron, Worldcom and other scandals, so too will the JP Morgan fire destroy the digital records of unallocated gold ownership.

On Friday, JP Morgan’s gold inventory plunged to a record low of less than 10% needed to cover outstanding June deliveries. What a convenient time for a fire! If they declare “force majeure’ on Monday freeing them of all liabilities and obligations then we’ll know beyond a shadow of a doubt that JP Morgan is doing the old trick of the slum landlord torching his building for the insurance money.

Once again, this is another reason you want your gold and silver in YOUR possession and not stored elsewhere. Force majeure would free JP Morgan from paying out anyone with gold stored there.

Other mysteries:

a) A fleet of fire trucks and ambulances stretching around the block and not one police car when there’s a massive amount of wealth supposedly stored in the basement?

b) Any major ass media news coverage?

c) Where’s the smoke?

d) Real gold doesn’t burn but “paper gold” does.

e) First, hurricane Sandy flooded their basement destroying paper bonds and now a fire destroys digital gold records. Suspicious?

f) All those fire trucks and only one with a couple of hoses out in the video.

July 21, 2013

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About gerold

I have a bit of financial experience having invested in stocks in the 1960s & 70s, commodities in the 80s & commercial real estate in the 90s (I sold in 2005.) I'm back in stocks. I am appalled at our rapidly deteriorating global condition so I've written articles for family, friends & colleagues since 2007; warning them and doing my best to explain what's happening, what we can expect in the future and what you can do to prepare and mitigate the worst of the economic, social, political and nuclear fallout. As a public service in 2010 I decided to create a blog accessible to a larger number of people because I believe that knowledge not shared is wasted.
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