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In a communication with JP Morgan Chase shareholders earlier this month Jamie Dimon, CEO of one of the world’s largest and most influential banks, said that a more volatile crisis than 2008 is coming.
It was striking admission from a man who has close ties to the Obama inner circle and was once at the top of the list for the post of U.S. Treasury Secretary. Considering the President continues to tout economic recovery, and that a significant majority of Americans reportedly believe the economy is healthy, the fact that Dimon is warning of another financial crisis should be a clear sign of what’s to come.
But if his words aren’t enough to convince you we have a systemic problem that will soon come to the forefront, maybe the recent actions of his secretive trading desks will suffice.
According to a detailed report from The Wealth Watchman JP Morgan Chase has been amassing a huge stockpile of physical silver, presumably in anticipation of a major liquidity event.
Here’s a breakdown of the Comex’s most recent silver deliveries to JP Morgan:
April 7th: 1,110,000 ounces
April 8th: 1,280,000 ounces
April 9th: 893,037 ounces
April 10th: 1,200,224 ounces
April 14th: 1,073,000 ounces
April 15th: 1,191,275 ounces
April 16th: 1,183,777.295 ounces
This is a huge bout of deliveries in such a short space of time. In fact, within the realm of Comex world, it’s such an exceptionally large amount, that it even creates quite a spike on the long-term chart of JP Morgan’s vault stockpile: