So You Want To Work In JPMorgan's Legendary Gold Vault? This Is Your Chance

For all those whose lifelong ambition has been to work with the recently reappointed joint Chairman/CEO of JPMorgan in the firm’s legendary and infamous gold ‘clearing’ operation (whose formerly classified New York, the largest in the world, and London vault locations were exposed here and here), today is your lucky day:

 

But more important than what the firm is looking for, is what is willing to provide. Information. Such as:

  • JPM currently holds a 45 % market share of the London Clearing: not quite a monopoly but close enough
  • The London clearing transacts approx $ 40 bn value in metal transfers each day on behalf of participants in the London market
  • It conducts Location swaps: literally, what it sounds like
  • The firm has consignment agreements in India, China, Thailan, and… Turkey: the infamous gateway to Iran?
  • The firm’s gold clearing and physical desk engages in liquidity management between London, Zurich and… the Bank of England?

h/t Ro

    

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