Loading...

About Me

Missouri, United States
I consider myself the "black sheep" of the family. I moved away from home when I was 19 and a year ago I decided it was time I moved back home....so glad to be among family and friends. I grew up playing the piano but haven't played in years. I have always thought outside the box, wanting to move to Boquete Panama, I am a tea party participant. I am a reiki master and I have 2 good guard dogs....a dachshund and Jack Russell terrorist. I go to alternative news websites daily for news (don't trust MSM to tell the truth). Operation mockingbird is a CIA operation that began in the '40's to control the media both foreign and domestic. This is why I go to alternative news websites. For an excellent article to read on the subject I suggest http://www.prisonplanet.com/analysis_louise_01_03_03_mockingbird.html

I WANT YOUR MONEY TRAILER

Tuesday, August 3, 2010

BIX WEIR: This just gets better and better!

from RMN          

                                                           Posted By: watcher51445 <Send E-Mail>
                                                          Date: Tuesday, 3-Aug-2010 16:04:59
This just gets better and better!
A Private Road subscriber just pointed out to me that JPM's "Jewel in the Crown" that Blythe Masters brags about was exposed in a Friday Road Trip a few weeks back. Keep in mind the term she uses "Synthetic Storage" for metal warehousing. Here's the section of the article again:
http://www.bloomberg.com/news/2010-08-03/blythe-masters-says-don-t-panic-over-jpmorgan-commodities-loss-job-cuts.html
Jewel in the Crown
JPMorgan missed out on opportunities in recent years, such as when oil prices surged in 2008, because it lacked the infrastructure to store and ship oil and other commodities, Masters said. JPMorgan has been expanding its commodities operations ever since, buying Bear Stearns Cos.' energy business in 2008 and UBS AG's global agriculture and Canadian commodities divisions, a purchase it completed in 2009. In March 2008, the bank bought U.K.-based ClimateCare, which helps clients reduce carbon emissions and trades reduction credits.
The London team has also since devised a way to provide "synthetic storage" and the company now has physical assets "at our fingertips" to store and ship commodities like oil and metals across the globe, she said.

RBS Sempra brought JPMorgan the Henry Bath metals warehousing unit, "one of the jewels in the crown" of the deal, said Bhar of Credit Agricole.
*****
WAIT A MINUTE! Take a look at this section of the Friday Road Trip 7/16/2010 a few weeks back...
JP Morgan and WSJ Set Stage for Silver Warehouse Default
A very curious article was posted on the Wall Street Journal's Commodities page yesterday regarding a metal warehouse theft that took place in the UK on May 31, 2010.

Thieves Strike U.K. Metals Warehouse
http://online.wsj.com/article/SB10001424052748703792704575366863382603080.html?mod=WSJ_Commodities_LEFTTopNews
This really sounds like a "Confederacy of Dunces" when you look at the facts...
"The material was stolen May 31 from a shed in Liverpool's docklands area that was owned by warehousing company Henry Bath & Son, a unit of J.P. Morgan Chase & Co. According to police in Merseyside County, which includes Liverpool, the metal sheets were worth "several million pounds."
Who leaves "several million pounds"(as in UK money) worth of inventory unprotected? Wait it gets worse...
"The heist was the second in less than a year from a U.K. warehouse owned by Henry Bath. Last September, 209 tons of aluminum ingots valued at £360,000, or about $545,900, were stolen from a Henry Bath facility in Liverpool. Police estimated that it would have taken up to eight trucks to remove that amount of aluminum."
Wow. Who the hell is running their security?
Or could this be just another cover-up of phantom metal storage by the banking cabal?
That would make more sense to me as JP Morgan tries to cover its tracks on fraudulent warehouse receipts and fractional reserve metal accounting.
It's an interesting angle but the reason I think this article is so curious is the statements about JP Morgan and who is LIABLE for this metal.
"The bank is unlikely to have to foot the bill for the metal as liability typically lies with the owner of the material. A warehousing company can be liable for a theft only if it is found to be guilty of negligence or fraud."
"Two of the six brokers using the warehouse may face a huge bill to replace it because they weren't insured, according to people familiar with the matter. The brokers, whose names couldn't be learned, must now either pay their client the value of the metal or replace it."
WOW! Are they trying to set up a precedent for the coming default of SLV Silver inventories? Was there SILVER stored in the warehouse that lost "millions of pounds" of inventory?
The timing of this article couldn't have been better to begin to leak the news that there is NO SILVER in the iShares ETF warehouses!
END
******

So Masters now thinks that their purchase of Henry Bath & Son is their "Jewel in the Crown" for their new "Synthetic Storage Program". BY DEFINITION a "synthetic metal storage" program is an artificial metal storage program...or paper metal!
How stupid do they think we are?
The dam is breaking.
Bix Weir
www.RoadtoRoota.com

No comments:

Post a Comment