TSX:LSG.DB - Post by User
Post by
lornon Aug 18, 2013 7:32pm
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Post# 21679682
Re..JP Morgan
Re..JP Morgan
Lenghty article with pictures....
JPMorgan Is Selling The Building That Houses Its Gold Vault
Tyler Durden's
08/18/2013
zerohedge.com
..."It was only a month ago when we learned that JPM was planning to exit the physical commodity business, and today we know that the firm is set on disposing of its one crowning asset in the commercial gold vaulting industry. This begs the question: is JPM set to fully and completely exit the precious metals vertical which it inherited when it was handed Bear Stearns on a $10 platter (together with the now defunct firm's legacy short positions)? If so, is it also in the process of unwinding any and all legacy precious metals exposure including rumored "whale-sized" shorts in the paper silver and/or gold axes, and what happens to the price of silver and gold when a massive stock position becomes "flow" in the other direction (i.e., short covering)?"...