New inventory figure 789.56 tons. Lost 3.56 tons.
Breaking point has just nudged a little bit closer, once again.
Snails pace I know, but in the right direction.
No wonder the Germans are getting only a tiny portion of their gold back, not in original form but melted from other sources.
I read somewhere that the sale of JP Morgan headquarter building in New York to Chinese interest was not a sale per se but rather, taken over as collateral due to JP Morgan unable to pay back a loan secured over the building.
JP Morgan default on a loan? can't be a dollar loan as they have unlimited supply from the FED. I speculate that it was a gold loan!
No wonder also that China is buying and taking delivery of gold like mad like there is no tomorrow because JP Morgan defaulted unable to pay back the gold China lent/leased to them at the time China was admitted into WTO around 2000 in a under the table deal.
Warning: apart from the GLD inventory figure which is from website below, the above is all wild speculation!!!
GLD: http://www.spdrgoldshares.com/
gld inventory under 790 tons
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