ALERT: JP Morgan Increases SLV Holdings by 500%
Just so you know….
The past few years of silver smashing has been all about letting JP Morgan extract themselves from that Silver short hot potato. That’s why the CFTC has not filed charges against them (yet) for silver manipulation. That’s why the banking cabal has sat on the price of silver this whole time. That’s why Citibank added $7.5B in OTC silver shorts. That’s why sentiment in the silver market has never been worse.
It’s all about extricating JP Morgan from the silver short position they were REQUIRED to take on by the US Treasury after the collapse of Bear Stearns.
So knowing what is happening it might not be surprising to you that during the 1st Quarter of 2013 JP Morgan has INCREASED their physical silver holdings in SLV for their own account by 500%!
Ted Butler pointed out this new JP Morgan position last week. The numbers are clear in the reported data on SLV which must be recorded quarterly by the major institutional holders. Here’s the latest report showing JP Morgan holding 6,042,752 shares (ounces) increasing their holdings in SLV by 4,819,640 shares or 500%.
This report is cut off as of the end of the 1st quarter so when the second quarter is posted you can bet that this number has increased substantially. On a side note I’d like to point out that two other major cabal members shed massive amounts of shares in the same quarter: UBS selling (or transferring to JPM) 7,477,363 and Morgan Stanley shedding 1,186,347. Both are playing the opposite side of the trade to control the price as the cabal trades back and forth to each other.
I’m not saying that JP Morgan is completely out of their silver short but they may now be very, very close when you put all their various silver holdings together and net them out.
So WHERE IS THE SHORT NOW?!
Truthfully, I don’t know but there are suspects that cannot be counted out. The prime one is Citibank as I pointed out a while back.
ALERT: Silver Short Hot Potato Being Passed Again
But I believe that plan was stopped as soon as it was noticed by the Good Guys that the Citibank silver derivative book had ballooned. The reason I think so is that after adding about $5B a quarter of silver derivatives in 2012 it was abruptly frozen and the CEO and CFO fired.
So where to now? The most likely spot would be a HEDGE FUND that is controlled by the banking cabal as their reporting requirements are almost non-existent as opposed to banks and large financial institutions.
Obviously, BlackRock would be the leading candidate as it is the largest and currently has full control of SLV as it’s legal Sponsor. They also have one of the ORIGINAL market riggers, Peter Fisher, as one of their managing directors. Here’s his bio:
Senior Managing Director Senior Director of the BlackRock Investment Institute
Mr. Fisher is a member of BlackRock’s Global Executive Committee and a senior director at the BlackRock Investment Institute which serves to leverage the investment insights of BlackRock’s portfolio managers for the collective benefit of our clients.
From 2007 to 2013, Peter served as co-head and then head of BlackRock’s Fixed Income Portfolio Management Group. From 2005 to 2007 he served as Chairman of BlackRock Asia. Prior to joining BlackRock in 2004, he served as Under Secretary of the U.S. Treasury for Domestic Finance from 2001 to 2003 and worked at the Federal Reserve Bank of New York from 1985 to 2001.
As Under Secretary of the Treasury, he was the senior advisor to the Secretary on all aspects of domestic finance including financial institutions, public debt management, capital markets, government financial management, federal lending, fiscal affairs, government-sponsored enterprises and community development. He served on the board of the Securities Investor Protection Corporation and as a member of the Airline Transportation Stabilization Board and also as the Treasury representative to the Pension Benefit Guaranty Corporation.
At the Federal Reserve Bank of New York, from 1995 to 2001, he served as an Executive Vice President and Manager of the System Open Market Account, responsible for the conduct of domestic monetary and foreign currency operation and for the management of the foreign currency reserves of the Federal Reserve and the Treasury. He also served in the Foreign Exchange Function, 1990-94, and in the Legal Department, 1985-89. From 1989 to 1990 he worked at the Bank for International Settlements, in Basel Switzerland.
Mr. Fisher’s other current responsibilities include serving as a member of the Strategic Advisory Committee at Agence France Trésor, the FDIC’s Advisory Committee on Systemic Resolution, the IMF’s Financial Institutions Consultative Group and the Google Investment Advisory Committee.
Mr. Fisher is a recipient of the Distinguished Service Award from The Bond Market Association (2004), the Alexander Hamilton Medal from the United States Department of the Treasury (2003), and the Postmaster General’s Partnership for Progress Award, United States Postal Service (2002).
Mr. Fisher earned a BA degree in history from Harvard College in 1980 and a JD degree from Harvard Law School in 1985.
The game of rigging the silver market is seemingly endless but that is exactly what we are fighting for…to END the illegal manipulation.
One day we will win and we will take our freedom back but for now the best we can do is KEEP TAKING THE FIGHT TO THEM!
Do yourself a favor…follow JP Morgan’s advice and BUY PHYSICAL SILVER at these low prices.
Tracking down the NEW holder of the Silver Short Hot Potato will be one of my major goals going forward.
May the Road you choose be the Right Road.
Statistics: Posted by DIGGER DAN — Mon Jun 17, 2013 2:50 pm
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Morgan Stanley’s Penny-Stock Shenanigans In Spain
SATURDAY, JUNE 1, 2013 AT 11:05PM
It’s so bad, it’s almost funny. It happened Friday afternoon when no one was supposed to pay attention.
In December 2010, seven regional savings banks in Spain were cobbled together into one bank via a lightning-fast “cold fusion.” They’d been sinking into the quagmire that the housing bubble had left behind. The hope was that combining these seven dead cats would somehow create one live dog.
To dress up that dog, they gave it a new-fangled name: Bankia. The largest of those regional banks rolled into it was Caja Madrid which was owned by the government of Madrid. After the merger, the most toxic assets were transferred to a new holding company, Banco Financiero y de Ahorros, which was then bailed out by the government with €4.5 billion. July 20, 2011, Bankia, armed with presumably a cleanish balance sheet, went public. To bamboozle people into believing that this was in fact a live dog worthy of their savings, BKIA became part of the IBEX 35 stock market index.
But that dog didn’t make it far. A mere ten months after the IPO, Bankia negotiated a taxpayer bailout package of €19 billion, on top of the original €4.5 billion, and was partially nationalized by the central government of Spain. Last March, the loss for the year 2012 was pegged at €19 billion, an all-time record in the history of corporate losses in Spain.
Its stock has been a trash penny stock ever since. On Friday, it traded between €0.66 and €0.71 per share, when two strange things happened, according to the ever vigilant GURUSBLOG (Spanish):
- A huge block trade of 2.4 billion shares at €0.72 per share was executed for a total of €1.7 billion, via a financial intermediary, thus bypassing the stock exchange.
- Moments before the close, when volume was dying down, Morgan Stanley bought up 145 million shares, as if it had suddenly fallen in love with this fermenting pile of financial manure, purposefully driving up the stock price by 31% from about €0.67 to €0.88 a share.
If MS wanted to buy the stock on the cheap, it could have done so over time. But it chose the moment when volume would be dead and then jumped in with both feet, a strategy it knew would guarantee a huge price move. And MS must have been satisfied with its success.
Friday was the last day of the month, and someone might have needed some major “window dressing” to pull a bag over investors’ heads. So we can’t wipe off the suspicion that there was a connection between the block trade and MS’s sudden efforts to manipulate up the stock price. The block trade executed at €0.72 a share earlier in the day would show a gain at the close of trading of 22.2% on €1.7 billion! A cool same-day gain of €377 million. Now that’s real money! There is no trick too dirty to gussy up a monthly report or even a financial statement. Whatever happens on Monday is irrelevant for now; and there are always other shenanigans to cover up that eventual hole too.
As bank lending has dried up, Spain’s government has apparently decided to make the working lives of struggling self-employed workers or small enterprises as difficult as possible by ramping up their tax burden to historic highs.
Statistics: Posted by yoda — Sun Jun 02, 2013 1:21 am
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JP Morgan Eligible Gold Inventories Fall Another 14% Today
Filed in Precious Metals by SRSrocco on May 14, 2013
JP Morgan drops another 22,759 oz of gold (14%) from their Eligible Inventories. They now only have 137,377 oz available in their Eligible Category. Furthermore, 32,049 oz of gold were withdrawn from Scotia Mocatta’s Eligible inventories, now reducing the total gold in the Comex vaults below 8 million oz.
Statistics: Posted by DIGGER DAN — Thu May 16, 2013 5:17 am
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THE GOLD REPORT INTERVIEWS WITH DAVID MORGAN
Statistics: Posted by DIGGER DAN — Sat May 11, 2013 3:46 am
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Recently uncovered documents prove that the Obama administration has been working with the Mexican government to increase the number of illegal immigrants on food stamps, and when more illegal immigrants go on food stamps JP Morgan makes more money. As you will read about below, JP Morgan has made at least 560 million dollars processing Electronic Benefits Transfer cards. Each month, JP Morgan makes between $.31 and $2.30 for every single person on food stamps (and that does not even include things like ATM fees, etc). So JP Morgan has a vested interest in seeing poverty grow and the number of people on food stamps increase. Meanwhile, the Obama administration has been aggressively seeking to expand participation in the food stamp program. Under Obama, the number of people on food stamps has grown from 32 million to more than 47 million. And even though poverty in America is absolutely exploding, that apparently is not good enough for the Obama administration. It has now come out that the U.S. Department of Agriculture has provided the Mexican government with literature that actively encourages illegal immigrants to enroll in food stamps. One flyer contains the following statement in Spanish: “You need not divulge information regarding your immigration status in seeking this benefit for your children.” The bold and the underlining are in the original document in case you were wondering. Overall, federal spending on food stamps increased from 18 billion dollars in 2000 to 85 billion dollars in 2012, and at this point one out of every five U.S. households in now enrolled in the food stamp program. When people illegally or fraudulently enroll in the food stamp program, it makes it harder for those that desperately need the help to be able to get it.
It is certainly a good thing to help fellow Americans that are suffering. It is a crying shame that more than a million public school students in America are homeless. That should not be happening in the “wealthiest nation on earth”.
But today we have a system that has turned poverty into big business. According to an article posted on Breitbart.com, JP Morgan has made at least 560 million dollars (and probably much more) processing EBT cards…
A new report by the Government Accountability Institute finds that JP Morgan has made at least $560,492,596 since 2004 processing the Electronic Benefits Transfer (EBT) cards of 18 of the 24 states it has under contract for the food stamp program.
A Daily Beast article provided some more specifics about the monster profits that JP Morgan is making…
Just how lucrative JP Morgan’s EBT state contracts are is hard to say, because total national data on EBT contracts are not reported. But thanks to a combination of public-records requests and contracts that are available online, here’s what we do know: 18 of the 24 states JP Morgan handles have been contracted to pay the bank up to $560,492,596.02 since 2004. Since 2007, Florida has been contracted to pay JP Morgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.
These contracts are transactional contracts, meaning they are amendable based on changes in program participation. Each month, the three companies that administer EBT receive a small fee that can range from $.31 to $2.30 (or higher depending upon the number of welfare services on an EBT card and state contractual requirements) for each SNAP recipient.
So the more people that are out of work and that need to turn to the government for food, the bigger profits that JP Morgan makes.
What makes all of this even more insulting is that many of the jobs that JP Morgan could be providing to Americans to help alleviate this poverty are being shipped overseas instead. As I noted in a previous article, many EBT card customer service calls are being routed to call centers in India by JP Morgan.
So why doesn’t anyone do anything about this?
Well, it turns out that JP Morgan has the politicians that oversee the food stamp program in their back pocket. The following is from a recent Money Morning article…
And the bank has taken steps to make sure the SNAP program remains a growing source of revenue. JPMorgan’s political donations to the members of House and Senate agricultural committees, the ones with legislative responsibility for the program, soared from just over $82,000 in 2002 to nearly $333,000 as of 2010.
What a wonderful system we have, eh?
And surely JP Morgan just loves the fact that the Obama administration is actively encouraging illegal immigrants to apply for food stamps.
What you are about to read should absolutely shock you. At a time when the U.S. government is absolutely drowning in debt, the Obama administration is making it abundantly clear to illegal immigrants that their immigration status will not be checked when they apply for food stamps. The following is from a recent Judicial Watch press release…
Judicial Watch today released documents detailing how the U.S. Department of Agriculture (USDA) is working with the Mexican government to promote participation by illegal aliens in the U.S. food stamp program.
The promotion of the food stamp program, now known as “SNAP” (Supplemental Nutrition Assistance Program), includes a Spanish-language flyer provided to the Mexican Embassy by the USDA with a statement advising Mexicans in the U.S. that they do not need to declare their immigration status in order to receive financial assistance. Emphasized in bold and underlined, the statement reads, “You need not divulge information regarding your immigration status in seeking this benefit for your children.”
The documents came in response to a Freedom of Information Act (FOIA) request made to USDA on July 20, 2012. The FOIA request sought: “Any and all records of communication relating to the Supplemental Nutrition Assistance Program (SNAP) to Mexican Americans, Mexican nationals, and migrant communities, including but not limited to, communications with the Mexican government.”
The documents obtained by Judicial Watch show that USDA officials are working closely with their counterparts at the Mexican Embassy to widely broaden the SNAP program in the Mexican immigrant community, with no effort to restrict aid to, identify, or apprehend illegal immigrants who may be on the food stamp rolls.
You can see a copy of the flyer right here.
So who pays for all of this?
You do of course.
The Obama administration is doing all that it can to promote illegal immigration, and big banks such as JP Morgan just make bigger profits the more illegal immigration that we see, but it is you and I that end up with the bill. This was put beautifully in a recent article by Mike Adams of NaturalNews.com…
Nearly $75 billion of taxpayer money is spent each year on federal food stamps, and it turns out some of that is alarmingly being handed out to illegal immigrants — people who contribute nothing to the federal tax base in America but who seem to be experts on collecting social welfare benefits of all kinds. If you are working for a living, you are buying food for illegals who are being actively recruited by Obama and the democratic party so that they will vote more democrats into office.
When we reward illegal immigration, what happens?
That’s right – we are just going to get even more illegal immigration.
According to WND, we have already started seeing a huge increase in illegal immigrants coming across the border since Congress began debating the amnesty bill…
Illegal border crossings have doubled, and possibly even tripled, since the latest congressional push began toward comprehensive immigration reform.
In reporting first published by Townhall.com’s Katie Pavlich, border patrol agents in the Tucson/Nogales sector claim illegals are coming here in much higher numbers in just the past few months.
“We’ve seen the number of illegal aliens double, maybe even triple since amnesty talk started happening,” an unnamed border agent said to Townhall. The data from Customs and Border Protection cited in the report shows 504 illegals were detected crossing in that sector between Feb. 5 and March 1. Only 189 were caught on camera, and just 174 of the 504 were apprehended. Of those spotted on camera, 32 were carrying huge packs believed to contain drugs and several were heavily armed.
If that bill is passed, it is being projected that it will bring 33 million more people into this country…
The pending Senate immigration bill would bring a minimum of 33 million people into the country during its first decade of operation, according to an analysis by NumbersUSA, a group that wants to slow the current immigration rate.
By 2024, the inflow would include an estimated 9.2 million illegal immigrants, plus 2.5 million illegals who arrived as children — dubbed ‘Dreamers’ — plus roughly 3.4 million company-sponsored employees with university degrees, said the unreleased analysis.
The majority of the inflow, or roughly 17 million people, would consist of family members of illegals, recent immigrants and of company-sponsored workers, according to the NumbersUSA analysis provided to The Daily Caller.
We have made legal immigration a complete and total nightmare while leaving the back door completely wide open at the same time.
We greatly punish those who are trying to do things legally while at the same time we are greatly rewarding those that are cheating the system.
What kind of sense does that make?
Shouldn’t we insist that everyone come in through the front door?
Those that are coming over our borders illegally know what the score is…
Linda Vickers, who owns a ranch in Brooks County, which is Ground Zero for the immigration debate, pins the blame directly on talk of ‘amnesty’ and a ‘path to citizenship’ for people who entered the U.S. illegally.
She recalls one man being arrested on her ranch not long ago.
“The Border Patrol agent was loading one man up, and he told the officer in Spanish, ‘Obama’s gonna let me go’.”
Border Patrol agents report that immigrants are crossing the border, and in some cases surrendering while asking, “Where do I go for my amnesty?”
We are already becoming a poverty-stricken nation. We simply can’t afford to feed millions upon millions of illegal immigrants as well.
As I write this, the U.S. national debt is $16,758,107,082,298.63.
We now have a debt to GDP ratio of about 105 percent.
In the United States today, the amount of money that is deposited in our banks is about 9.3 trillion dollars. If we took every penny of that and used it to pay off the national debt, we would still owe more than 7 trillion dollars.
We are stealing more than 100 million dollars from future generations of Americans every single hour of every single day to pay our bills, and yet everyone seems to think that this is “normal” somehow.
The truth is that what we are doing is absolutely criminal, and we should all be ashamed.
For much more on our exploding national debt, please see the following article: “55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know“.
In the end, it should be apparent to everyone that our system is failing. Our government is corrupt, our big banks are consumed with greed and most average Americans are so addicted to entertainment that they have absolutely no idea what is going on.
What would those that bled and died for this country think about what we have become today?
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JP Morgan Wins Biggest Payout Of All Creditors In MF Global Fiasco
2013 March 5
. MF Global and creditors have agreed to terms over a dispute with JP Morgan over the value of intercompany claims within the bankrupt brokerage’s estate. The settlement’s effect will bolster JP Morgan’s payout. MF Global’s parent entity will increase the bank’s projected recoveries, although it is unclear how much that will serve. Court filings containing more detail are expected to be entered “shortly” in US Bankruptcy Court in Manhattan.
Whereas most of MF Global’s unsecured creditors are to receive between 13.4 cents and 39 cents on the dollar, JP Morgan is set to receive 73 cents on the dollar, but this number will even increase due to Tuesday’s settlement.
JP Morgan received much fire during the collapse of MF Global, and much conjecture regarding the nature of the bankruptcy and their COMEX position ensued. Some analysts noted that JP Morgan made a large adjustment of physical silver into its registered values over night. In the immediate wake of the MF Global collapse, JP Morgan’s registered inventories tripled from 557,265 ounces to 1,660,545 ounces on Tuesday. The similarity between the 1.1 million ounces adjustment into registered vaults at JPM and the 1.4 million ounces of registered silver tied to MF Global raised some eyebrows.
Jim Willie echoed this statement at the time:
“Here is the smoking gun. Days after the MF Global bankruptcy was filed, a vast array of deliveries in silver were expunged. The silver vault inventory tells the story of the crime. JPMorgan simply converted what should have been MF Global client silver into JPM licensed vaults. Review the timeline. MF Global declared bankruptcy on October 31st. About a week later the CME began reporting that 1.4 million ounces of Registered silver was unaccounted for and unavailable for delivery, including 627,182 ounces from non-cartel banks. About 7 to 10 days afterwards, JPMorgan suddenly reported a deposit of 613,738 ounces into Eligible vaults. Exactly seven days later, JPMorgan adjusted this silver into Registered vaults. JPMorgan had not seen one significant silver deposit in months prior to this bountiful day. Great work on the part of the Silver Doctors to decipher the story. The charade continues before the USCongress. They are told of claims that investigators are searching avidly for the missing funds. They know where the funds are, in JPMorgan London accounts.”
Statistics: Posted by yoda — Tue Mar 05, 2013 8:08 pm
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Keiser Report: ‘Crash JP Morgan’ – 2nd Anniversary Special (E368)
In this episode, Max Keiser and Stacy Herbert present the two year anniversary special of their Crash JPM, Buy Silver campaign. They discuss JP Morgan doing everything to protect the Queen of their massive silver short position – a position that has DOUBLED in the past two years according to Rob Kirby of GATA and Kirby Analytics. They also discuss Central Banks pullling on their own little bungee cords by printing money. In the second half, Max Keiser talks to James Turk of Goldmoney.com about the link between liberty and gold and the shooting war to follow the currency war. The also discuss the gold/silver ratio and why silver today is like gold at $600.
GATA consultants Kirby and Turk appear on ‘Keiser Report’
Submitted by cpowell on Sat, 2012-11-17 21:22. Section: Daily Dispatches
4:20p ET Saturday, November 17, 2012
Dear Friend of GATA and Gold:
GATA consultants Rob Kirby of Kirby Analytics in Toronto and GoldMoney founder James Turk appeared this week on Max Keiser’s program on the Russia Today network, "The Keiser Report," to discuss manipulation of the gold and silver markets. GATA figures heavily in the discussion. The program is 26 minutes long and its video is posted at YouTube here:
Kirby appears at 2:29, Turk at 12:58.
Statistics: Posted by DIGGER DAN — Sun Nov 18, 2012 12:30 pm
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Interview with Bill Murphy who claims that JPM is done. Toast.
Statistics: Posted by Deo Vindice — Thu Aug 23, 2012 5:24 pm
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