BREAKING: Massive Fire Reported In The Basement At The JP Morgan Gold Warehouse On Wall Street, 20 F

Maybe this has something to do with it.

www.bloomberg.com...

When the Federal Reserve gave JPMorgan (JPM) Chase & Co. approval in 2005 for hands-on involvement in commodity markets, it prohibited the bank from expanding into the storage business because of the risk.
...
Five years later, JPMorgan bought one of the world’s biggest metal warehouse companies.
While the Fed has never explained why it let that happen, the central bank announced July 19 that it’s reviewing a 2003 precedent that let deposit-taking banks trade physical commodities. Reversing that policy would mark the Fed’s biggest ejection of banks from a market since Congress lifted the Depression-era law against them running securities firms in 1999.

Apparently these mega corps also buying up utilities.

By owning the warehouses, they artificially create shortages by log jamming the supply chain with their control of the warehouses.

Originally posted by Stormborn
Does gold burn/melt?

The gold is a very heavy metal. It can melt in heat but will stay where it is. No fear of going down the drain.

Unless fire is a cover for something else.

The market is reacting strongly to the news.

It could be that gold has been used up to support the dollar. There has been pressure on dollar in the last three years.

China is buying gold like crazy. Nobody knows the exact amount China bought, as they are using multiple channels.

Well if they say the fire destroyed the gold they're lying

Tungsten melts at : 6191.6 F (Link)
a fully developed fire is not likely to reach 1500°F (Link)

Well, looks like millions in gold is about to "disappear".

There is a book called Soon: The beginning of the End . One of the first events investigated is many tons of silver simply turning into dust and disappearing in one of these major banks in new York. Now if you subscribe to the alien astronaut theory like I do, that the bible is a documentation of extraterrestrial intervention. the book soon references biblical events. and understand all the silver and gold in the world is mined to be handed over to the alien creators/rulers as they pass through, this could very well be a cover up for the fact the aliens are already here. 2001 began the new century and millennia, as well as the downhill trend of our government and world events and the raping of the global economy.

the fact that this story is being neglected by MSM proves that there is something to hide. I gather that this is not the first event of a similar nature around the world, and will not be the last. We need to research the local and independent media for instances like this in London, Rome, Honk Kong and Brazil. These are major financial hubs and it is likely related events have already occurred and will continue for some time.

I'm sure many of you have paid attention to this but the price of gold per usd had dropped around $500 per oz/ from $1700 an oz/. down to in the past 6 months. It had a $21 spiked increase increase today and i'm sure the fire had something to do with that increase

They will blame it on Houdini.

Originally posted by Rosinitiate
Still odd that there was no police car in the 15min video huh?

You would think they would want to be all up in it...

Why do you think police cars turn up every time a fire truck does?

More so if it actaully invloved a butt load of gold of course.

What gold are you babbling about?

Remember how the OPPT had all the gold teleported away....

Talk about exaggeration. First of all, there were not twenty fire trucks or a fleet.
Secondly, the ones that were there responded to an alarm. There never was a fire.
But, feel free to continue to spread this nonsense. When nothing is reported on tomorrow or the next day you will know why.

So sad that people are not even willing to glance through a thread, the answers are all there.

But again I will say this event is a good thing because PERHAPS people may learn of what is actually happening with JPM:

JPM’s gold inventory plunging 66% Friday to an all-time low of 46,000 ounces, and with reportedly over 502,000 ounces still standing against JPM for the JUNE gold contract

So what happens to those claims still standing? HMMMM?

reply to post by hellobruce


Yes, in fact I have never NOT seen a police officer at a structural fire. And one concerning a vault, well, isn't that answer obvious?

Originally posted by Rosinitiate
Yes, in fact I have never NOT seen a police officer at a structural fire.

What structural fire are you talking about? In fact, what fire?

And one concerning a vault, well, isn't that answer obvious?

Was the fire in the vault? Was there anything actually in the vault?

Too bad the gold vault is 2 blocks over from the location of the alarm.

Originally posted by Rosinitiate

BREAKING: Massive Fire Reported In The Basement At The JP Morgan Gold Warehouse On Wall Street, 20 Firetrucks Showed Up!

This is supposedly where JP Morgan keeps their gold. The very same gold that has been dwindling down at astonishing rates lately. JP Morgan warehouse 100 feet below CMP 1 on Wall Street.

(visit the link for the full news article)

Next thing we will hear is that the fire was so intense that it "destroyed the gold".
Wait for it... and the general public will believe it.

Originally posted by pirhanna
Next thing we will hear is that the fire was so intense that it "destroyed the gold".
Wait for it... and the general public will believe it.

So a fire was so intense it destroyed gold 2 blocks away, and no one noticed?

reply to post by Rosinitiate

so on monday when the stockmarket reopens?????

Back in the early 90's, a consulting company I worked for obtained a contract with JPM. At that time, all of their email and communications were done on Apple's and all of the servers were way underground in that Wall Street facility. I spent a great deal of time down there working on those computers, and the area is absolutely enormous. Although I was only allowed access to the computer systems, I remember many dark corridors and halls down there, all with incredibly tight security.

The server room itself was laid out very strangely, all of the systems were in a line and the perspective reminded one of looking down a train track. Computers, on racks and tables as far as the eye could see.

If there was a fire down there, it certainly did more damage than just the suspected Gold vaults. which I knew nothing about. I am telling you the place was absolutely huge.... and it was mind boggling for me in my early career to have had access to such a place.

Originally posted by jvm222
I'm sure many of you have paid attention to this but the price of gold per usd had dropped around $500 per oz/ from $1700 an oz/. down to in the past 6 months. It had a $21 spiked increase increase today and i'm sure the fire had something to do with that increase

The market is selling USD right now. That seems to be reaction of Bernanke rather than a fire at JPM.

Bernanke said that economy would tank if Fed were to tighten policy.

It is being taken to mean that Fed shall keep on printing dollars, so commodities are rallying.

My advice is to buy gold and silver.

US will get into Syria conflict. It is just a matter of months. They will print more, not less in coming months; as military expenses increase.

They cannot strike Iran until Syria has a friendly regime.

They will try to install a friendly regime like they tried with Egypt. Muslim Brotherhood was put in power by the US as it was very anti-Shia.

The coup in Egypt means they cannot achieve their objectives through indirect action. It increases both risk and cost for the US.

Syria is a problem as Iran can mount a counter-attack through Syria. Israel has already decided to strike Iran.

Originally posted by fleabit
One day, people with smarts will realize that you can't eat gold.

Just sayin'....

Yup, trading with rocks is silly to me. I'm for a credit system. There is the infrastructure for it. I know, it's a pipe dream, but I'm still for it.