How JP Morgan and HSBC Control Vast Amounts of Physical Gold and Silver

JP Morgan Chase and HSBC control vast amounts of gold and silver via holdings in their COMEX warehouses and ETF custodial arrangements.

JP Morgan is the largest COMEX hoarder of silver and custodian of the largest silver ETF.

HSBC is the largest COMEX hoarder of gold and custodian of the largest gold ETF.

How much gold and silver do they control?

Are their holdings confiscation targets?

The Lowest Cost. Period.

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Amount of Silver Controlled by JP Morgan Chase and HSBC Bank plc

Set for below are the amounts of silver controlled by JP Morgan Chase (JPM) and HSBC Bank plc (HSBC). Please note neither JPM or HSBC and or their affiliates may hold any direct beneficial ownership in any of the silver held in the ETF SLV. Further, neither HSBC nor JPM and or its affiliates may not have any direct ownership interest in any of the silver held at the HSBC or JP Morgan Chase Bank NA COMEX depositories.

Silver in COMEX Approved Warehouses

jp morgan comex silver april 12 2017

COMEX data source: CME/goldchartrus

Silver in Exchange Traded Funds

Silver Held in ETFs April 12 2017

SLV accounts for approximately 57% of the silver contained in silver ETFs.

silver etf april 12 2017

SLV holdings from ishares.com

Total Silver vs Annual Silver Mining Production

JP Morgan Chase and HSBC Control of Silver vs Annual Global Silver Mining Production

Silver under the control of JPM and HSBC equals approximately half of the annual global silver mining production.

2016 global silver mining production data: Silver Institute

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Amount of Gold Controlled by HSBC and JP Morgan Chase

Set for below are the amounts of gold controlled by JPM and HSBC. Please note neither JPM or HSBC and or their affiliates may hold any direct beneficial ownership in any of the gold held in the ETF GLD. Further, neither HSBC nor JPM and or its affiliates may not have any direct ownership interest in any of the gold held at the HSBC or JP Morgan Chase Bank NA COMEX depositories.

Gold in COMEX Approved Warehouses

gold stocks in Comex approved vaults april 12 2017

HSBC and JPM warehouses control 51% and 10% of the COMEX warehouse gold, respectively. Combined the two entities control approximately 61% of the COMEX gold.

HSBC comex gold holdings

Comex gold in warehouses

COMEX data sources: CME/goldchartrus

Gold in Exchange Traded Funds

Gold Held in ETFs april 2017

GLD equal approximately 40% of the gold contained in gold ETFs.

Gold EFT april 12 2017

GLD holdings from SPDR gold shares

Total Gold vs Annual Gold Mining Production

JP Morgan Chase and HSBC Control of Gold vs Annual Global Gold Mining Production

Gold under the control of JPM and HSBC equals approximately one third of the annual global gold mining production.

Annual gold mining data: GFMS team at Thomson Reuters

HSBC is also a U.S. Mint authorized purchaser of American Gold Eagle coins.

n.b. there is no evidence that JP Morgan Chase has acquired any American Silver Eagle or Canadian Silver Maple Leaf coins, in any quantity.

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Further reading:

JP Morgan and Silver

US Mint Authorized Purchasers

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