JPMorgan bank had ‘nickel’ on the LME and the US bank had put the metal on the market early last year.
The problem is that JPMorgan Chase & Co. owned the London Metal Exchange nickel contracts. which turned out to be secured by bags of stones rather than the metal concerned.
Suddenly, last week, the LME announced that it had canceled nine nickel contracts – worth around $1.3 million – following discovering “irregularities” at a certain warehouse, which, according to Bloomberg (source here), belonged to Access World.
And hold on tight the news has shocked the metals world as LME contracts are generally considered indisputable!!
Hahahahahahahaha.
Hahahahahahahaha.
Only the ugly “conspirators” do not believe a strict word of the inventories that are provided year following year.
If Churchill said he only believed in statistics if they were his, I might paraphrase it by saying that I only believe in the inventories of metal holders, if it is me who has just carried them out.
If I’m talking regarding the LME, the London Metal Exchange, it’s because a little gold is traded there every day and a little silver too.
Hahahahaha.
But rest assured the warehouses are well guarded and well stocked.
Officially gold and metals.
In fact, sometimes instead there are stones.
I still laugh regarding it.
Everything in our world is fake. All. Figures, statistics, indices, reserves, balance sheets, income statements, everything is false and artificial.
The only gold, the real one, is physical.
It is already too late, but all is not lost.
Prepare yourselves !
