A Freebie from Uncle Ted

Fri, Jan 3, 2014 - 3:32pm

Ted Butler's "New Year" newsletter was released to subscriber's on Wednesday. He's made it public today through the SilverSeek site.

Here's the link to the full report at SilverSeek: https://www.silverseek.com/commentary/2013-–-year-jpmorgan-12815

You should be sure to read the entire report but I want to C&P and highlight two paragraphs below. As regular know, I've been tracking JPM's hoarding of Comex gold and silver deliveries since July of last year. Ted has, too, and these two paragraphs get to the crux of the matter:

"Here’s something new I’ve been meaning to mention. The CME Group (owner-operator of the COMEX) lists a spot month position limit and monthly limit on actual deliveries of 7.5 million silver oz and 300,000 gold ounces by any one trader. Yet the CME is reporting that JPMorgan in its house account took delivery of more than double the amount of gold allowed in any one month. Since JPMorgan held the 6254 gold contracts from first delivery day forward, it also means that JPM was in violation of CME rules limiting spot month holdings in gold futures of 3000 contracts for the entire month. The violations in silver were less egregious but were violations nonetheless.

I’m sure if pressed the CME could come up with some cockamamie excuse why JPMorgan was allowed to hold and take delivery of so many gold and silver contracts in one month, but the real reason is that JPMorgan is above all rules and law. The CFTC backed down on policing JPMorgan and it would be foolish to think the CME would restrict its most important client in any way. Far from a band of brothers, this is a brotherhood of criminals. Besides, rules are for the little people, not JPMorgan."

If you're looking for something to do this weekend, perhaps you should C&P these two paragraphs yourself and send them off to the CFTC for an answer...


Again, to subscribe to Ted's excellent service, simply click here: https://www.butlerresearch.com/subscribe.asp


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 3, 2014 - 4:45pm

It it just me....

or do the two paragraphs Turd mentioned really look like just one paragraph?

Maybe it's the Jose Swervo Oro.

Jan 3, 2014 - 5:03pm

Who knows?

We know China bought JPM's headquarters and the gold vault connected to the Fed's vault.

Maybe they own JPM and the Fed, too.
We just don't know it yet.

Jan 3, 2014 - 5:17pm

"the rip-cord"

I think the reason why JPM hasn't pulled the rip-cord yet is....

1.) They'll let someone else do it (China) or some market event (Yen collapse) do it for them while they sit back and benefit from it.


2.) They have no real intention or desire ( or ability) to run the price up. Doing so would be a 180 degree turn away from decades old US/Fed/Treasury monetary policy.

Is this time different? I have no idea but I'd like to see the price of gold/silver go up significantly just like everyone else.

My guess would be that China doesn't cause the price to go up significantly in a pro-active pre-emptive anti-USD move.

Doing so would be perceived as an economic declaration of war against the US. (But in the event of a war...Japan/China/US etc....a Chinese USD counterattack of sorts would make sense.)

I think it more likely that the Chinese will wait for the right moment to reactively respond to a significantly weakened USD event and then dramatically respond because of it. Big difference.

Maybe that's the exact same reason JPM is waiting...and watching.

While 20 tonnes of gold (JPM's approx. holdings....supposedly) is a lot of gold, it pales in comparison to what China has been hoarding and I don't see JPM being able to jack up the gold market based on 20 tonnes with China being the kingfish.

If anything, I see JPM acquiring metal at these cheap prices so they can further short the heck out of it while they have the phyz to do so.

That's been their MO for awhile not to mention it's what the Treasury/Fed has wanted to see happen for decades. Lets hope not.

I could clearly be wrong and I'm not emotionally invested in being right. Just as long as gold/silver eventually go up is where I'm at regardless of the reason why.

I Run Bartertown
Jan 3, 2014 - 5:26pm


I think it's much more likely that the OneBank owns JPM, the Fed, and China.

Although I'd love to think that the Chinese had somehow turned the tables on the people who own almost every other nation on Earth (the exceptions being 'rogue states' and 'Axis of Evil' nations).

Jan 3, 2014 - 6:05pm

With old yellen in the wind,

taking up the 1st of many FOMC meetings, you can be assured a fabricated crisis is not far from the horizon. FOMC 1/28-29! I have no doubt the way is prepared for her to uncork QEternity and leave the bentrod taper tantrum for the history books. It's all rigged pig men crony capitalist BS propaganda streaming like sewage from diseased anal orifices. Just look at the rising reverse repos in the fed fuds temp operation. These vermin are sucking liquidity out very quickly to drop these markets for the upcoming fabricated crisis. https://www.newyorkfed.org/markets/omo/dmm/temp.cfm ............................................................. That's a 57 billion reverse repo folks. Remember numerous ones in the fall of '08 before and after crisis mode where hanky panky poulson shook down our wooden headed CONgress & SINate to TARP out failing institutions. It was 25 billion in reverse repos every other day relentlessly for 90 to 120 days to the tune of some 3 trillion sucked out. The sucking of liquidity now at regular intervals of 50 plus in reverse repos has got to be the biggest warning flag we're coming to a fabricated crisis for ole yellen to step in and save us. Wonder how much we the people will need pony up to save failing institutions this time? Don't be fooled this time around turdites. Uncle Ted knows the score on price fixing from silver to all other commodities but most importantly silver. When the wolves start crying crisis this time around, shove the rat bastards back into the insanity debt bottle, the pit vipers have been having us drink from for decades and let every last bankster entity which has blowing up derivatives; implode to hell. Then let's, we the people, get back to freedom and our republic and show the world we're not a nation of suckers to be completely bled financially dry by some freak show lil scamBO administration. All great pretenders of representative gov but by their fruits we know them. Liars all and we need vote every inscumbant out; demoncrap or repungnicon this Nov. All elections rigged as well but let us move peacefully 1st and thereafter whatever necessary to send tyrants bank to hell from whence the vermin came. 2014 let us step out from being one nation under fraud and return to our being one nation under God.

Jan 3, 2014 - 6:21pm

Senator Rand Paul Suing Obama Administration

United States Senator Rand Paul (R-Ky.) is leading a class action lawsuit against the the Obama administration’s National Security Agency (NSA) spying program. Paul has actually been collecting signatures for petitioners for months now.

Paul will appear on Fox News with Eric Bolling at 10 PM ET on Friday to discuss the lawsuit. So far more than 300k people have signed Paul’s class action lawsuit, which will focus on the NSA’s violation of the Fourth Amendment.

Read more: https://benswann.com/senator-rand-paul-suing-obama-administration/#ixzz2pNeR0uQk
Follow us: @BenSwann_ on Twitter
Jan 3, 2014 - 6:48pm

Primed and ready to self destruct

The Chinese and the Russians are both smarter than everyone and they are now primed and ready to take control as masters of the policy makers for world currency settlement.

They will not trigger the US default that will coincide the Euro default, but they will benifit and stimulate the escalation of decline by dumping any US then Euro based finances, with France leading the Euro decline. Any gold left will be swiftly scooped up as anyone left with gold will be selling it to cover debt that no one wishes to buy their bonds. Inflation will be back to the 70's 20% plus and we as gold investors will rule.

What will the black swan event? Who knows, who cares, but with the US stock markets at their ridiculous levels and US fundamental indexes of financial health manipulated to equally ridiculous levels VERY LITTLE WILL BE NEEDED.

Jan 3, 2014 - 6:50pm

tail wagging the dog

ivars I dont know answer to that question how can betting on future price move physical market. hope someone can shed more light on the question as I would like to see the debate. however if it wasnt naked short selling which provoked the huge price declines on those 5 days what was it that drove price down then?

happy new year to all

Gold Dog
Jan 3, 2014 - 7:37pm


It started with shorting that tripped sell stops. The reason the moves were so large is every time the price appeared to be stabilizing the Morgue would short more so more stops and panicked sellers would add to the waterfall.

The same action can be initiated to the upside.



Jan 3, 2014 - 8:09pm

Fantastic Silver Documentary

On......the History Channel of all places! Found it on Chris Duane's site. Gives its history as money, explains the prevailing theory on where silver comes from, and explains how it saved western democratic ideals. I highly recommend it!


Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Recent Comments

by kt47150, 24 min 31 sec ago
by mavens, 49 min 17 sec ago
by silver66, 54 min 38 sec ago
by kt47150, 57 min 16 sec ago