Have you ever had something happen right in front of your eyes and didn’t even notice?
It’s happening right now!
JP Morgan has just cracked open the safe door on their gold vault in New York, while almost simutanousely opening a new vault in Singapore. The vault in New York has not seen the light of day in two decades.
Personally, I would not be surprised if the prop. traders transferred the gold in NY to Singapore through private equity transactions. This would get the gold out of any new regulations brought down by Uncle Sam and would avoid a future situation where the gold would have to be exchanged for US dollars.
The US is starting to tighten the regulations in the metals markets. Starting when the Obama administration passed the new financial bill and included the Volker rule which regulates proprietary trading, and futures contracts in precious metals. That is what caused the prop. desks of all the big boys to shutter.
At the time of this writing gold is rising to highs never seen before at $1,340.00 oz. Silver is approaching $23.
World currencies are losing their value, as the public is losing confidence in the paper asset.
With the amount of gold that the central banks of the world have been buying, it seems like they are losing confidence in fiat paper as well.