"Hello Scotia Mocatta, It's JPMorgan… Yes, Again… We Need More Gold"

It happened again.

And like the last time JPM plundered 20K ounces of Scotia gold on August 8…

… JPM took directly from Scotia’s registered gold inventory. We wonder how regular, non-TBTF customers of Scotia would feel if they learned that their registered gold was now in the “possession” of JPMorgan.

Finally, as a reminder, JPM’s sequestering of all available Comex gold is not new.  It started on August 7 HSBC:

And culminated on August 12 with the great Comex Color-Coded Crunch:

In brief: it continues.

    



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