J.P. Morgan Chase and HSBC control vast amounts of gold and silver via holdings in their COMEX warehouses and ETF custodial arrangements.
J.P. 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?
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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
COMEX data source: CME/goldchartrus
Silver in Exchange Traded Funds
SLV accounts for approximately 57% of the silver contained in silver ETFs.
SLV holdings from ishares.com
Total Silver vs Annual 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
SD Bullion
Golden Eagle Coins
Money Metals Exchange
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
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.
COMEX data sources: CME/goldchartrus
Gold in Exchange Traded Funds
GLD equal approximately 40% of the gold contained in gold ETFs.
GLD holdings from SPDR gold shares
Total Gold vs Annual 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.
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
SD Bullion
Golden Eagle Coins
Money Metals Exchange
Further reading:
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