Tvakoli: Gold Game Changer

[oddlots]

What think ye...

http://www.huffingtonpost.com/janet-..._b_820005.html

"J.P. Morgan Chase & Co. announced on February 7, 2011 that it will accept physical gold as collateral for investors that want to make short-term borrowings of cash or securities.

Presenting gold to satisfy demands for performance bond collateral has been allowed on the London CME in a limited way since October 2009. As of November 22, 2010, the Intercontinental Exchange Inc. (ICE) has accepted gold bullion as collateral on all credit default swaps and energy transactions.

I don't recall the G-20 declaring gold a new currency. Yet JPMorgan Chase and a couple of financial market exchanges have effectively declared that gold is an alternative currency.

In other words, gold is money."

[doom&gloom]

Re: Tvakoli: Gold Game Changer

Wonder if they have a short they are trying to cover... hmmm...

[Adeptus]

Re: Tvakoli: Gold Game Changer

Wonder if they have a short they are trying to cover... hmmm...

It'd be pretty ironic, if this triggered massive gold purchases. If they are short even 1/4 of the gold market as they are with the 200M oz of silver, what would Blythe do then?

Considering she invented Credit Default Swaps, and was a key architect in developing the carbon credit derivative markets, I sure as heck wouldn't underestimate her. BTW, the just-released book below (french only until June), claims to on page 233 lay out JPM's confidential (?) master plan - which specifically forsaw revolutions in Tunisia and Algeria due to food shortages...BEFORE it actually happened. According to Pierre (book author) "This is just the beginning". I'm sure this had nothing to do with JPM buying massive ammounts of comodities since 2007, given they had already handed off all possible liability of their magical RE CDS' before they blew sky-hi and caused a massive global recession. Isn't it a strange coincidence that Blythe Masters became the head of Comodities Trading at JPM right around 2007? Hmmmm.... /sarcasm

More on the book from the Max Keiser report (skip to 14:40)
Click image to go to book website:


Adeptus

[Chris Coles]

Re: Tvakoli: Gold Game Changer

It'd be pretty ironic, if this triggered massive gold purchases. If they are short even 1/4 of the gold market as they are with the 200M oz of silver, what would Blythe do then?

Considering she invented Credit Default Swaps, and was a key architect in developing the carbon credit derivative markets, I sure as heck wouldn't underestimate her. BTW, the just-released book below (french only until June), claims to on page 233 lay out JPM's confidential (?) master plan - which specifically forsaw revolutions in Tunisia and Algeria due to food shortages...BEFORE it actually happened. According to Pierre (book author) "This is just the beginning". I'm sure this had nothing to do with JPM buying massive ammounts of comodities since 2007, given they had already handed off all possible liability of their magical RE CDS' before they blew sky-hi and caused a massive global recession. Isn't it a strange coincidence that Blythe Masters became the head of Comodities Trading at JPM right around 2007? Hmmmm.... /sarcasm

More on the book from the Max Keiser report (skip to 14:40)
Click image to go to book website:


Adeptus

Absolutely fascinating; particularly the reference to the French Revolution.