Some things never change — there will be another crisis, and its impact will be felt by the financial market.The trigger to the next crisis will not be the same as the trigger to the last one – but there will be another crisis. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a COMMODITIES PRICE collapse (oil in the late 1980s), the commercial
real estatecrisis (in the early 1990s), the Asian crisis (in 1997), so-called “bubbles” (the 2000 Internetbubble and the 2008 mortgage/housing bubble), etc. While the past crises had different roots (you could spend a lot of time arguing the degree to which geopolitical, economic or purely financial factors caused each crisis), they generally had a strong effect across the financial markets
They’re baaaaack. Yes, “old faithful” is back at it again!Of course, they never really left silver, and have been rigging it non-stop in the futures market, but for awhile there, there were at least no admissions of newly-stacked silver being made in their Comex warehousing facilities.Yet, after a 16 month period of “dormancy” within their Comex warehouse vaults, these guys have returned with a vengeance.In fact, our old buddies at JP Morgan Chase, not only see value in silver here, but they’re currently standing for delivery in their own house account in such strong numbers, that it commands our attention. Let me show you what I mean.Here’s a breakdown of the Comex’s most recent silver deliveries to JP Morgan:April 7th: 1,110,000 ouncesApril 8th: 1,280,000 ouncesApril 9th: 893,037 ouncesApril 10th: 1,200,224 ouncesApril 14th: 1,073,000 ouncesApril 15th: 1,191,275 ouncesApril 16th: 1,183,777.295 ouncesThis is a huge bout of deliveries in such a short space of time. In fact, within the realm of Comex world, it’s such an exceptionally large amount, that it even creates quite a spike on the long-term chart of JP Morgan’s vault stockpile:All in all, JP Morgan has added over 8.3 million ounces of additional silver in just the past 2 weeks alone.
What is a surprise is how little notice the rollout of Chase’s new policy has received. As of March, Chase began restricting the use of cash in selected markets, including Greater Cleveland. The new policy restricts borrowers from using cash to make payments on credit cards,
mortgages, equity lines, and auto loans. Chase even goes as far as to prohibit the storage of cash in its safe deposit boxes . In a letter to its customers dated April 1, 2015 pertaining to its “Updated Safe Deposit Box Lease Agreement,” one of the highlighted items reads: “You agree not to store any cash or coins other than those found to have a collectible value.” Whether or not this pertains to GOLD and silver coins with no numismatic value is not explained.