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*WHY is JP morgan acquiring bars of platinum?

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Is it possible the they are

Is it possible the they are planning on rolling out a new platinum ETF?

Cuimhnigh orm, a Dhia, le haghaidh maith.

Ha ha. I get it.

Because the chicken crossed the road with the silver!


SteveMT's picture

Platinum is the most expensive common precious metal....

on the planet with a unique use in catalytic converters for diesels. Is also takes up least amount of vault space/unit value. This power move by the Morgue makes sense, IMO.

A very interesting read. Thanks.

Checking Kitco charts,

Rhodium $2,300
Platinum $1,791

New Hampshire and Ecuador.


"Rhodium" isn't really considered common...though it does have SOME uses, mostly plating silver and gold to make it "shinier"


maybe it is platnium that will back our future currency? Just a thought.

Could it be a way to hedge

Could it be a way to hedge their shorts on silver without having to actually buy silver (yet)?


interesting.. this way they

interesting.. this way they are not in the market making it run higher.

Unfortunately, JP Morgan is not going to be made.....

to take the loss on their silver shorts because they will get a bailout via our government/taxpayers. I believe our government is complicit with all that JP Morgan is doing with the silver manipulation, and don't believe me, do the research. JP Morgan should be in the hole right now, but everything on the financial media is saying how great they are doing, even after billions of dollars of tax payer money they took. All I can say is do the research, you will come to the same conclusions that I have. Geithner, and Bernanke are in on the scheme as well, watch them increase the debt ceiling by scaring our Congress Critters, just like they did when the big 2008 financial collapse occured. I will be writing my congress critter and telling him to vote a big "NO" on raising the debt ceiling. I really want to see the Fed squirm, along with the Treasury when they can't legally create any more money on the books, and we the taxpayers finally put our feet down, and say no more. We need to tell them we are done playing their games. Geithner is like a credit card junkie who is maxed out on credit cards, and begging his credit card company to raise his balance so he can use/buy more. We have all had to live within our means, especially the last few years, it is time our government does the same. Obama has actually said that, why doesn't the people he has in office under him do that?

New global currency?


I'd like to hear some of the

I'd like to hear some of the metal guru's on here way in. Seems like something fishy:

"...A very interesting schism now exists between JPMorgan Chase and Goldman Sachs (GS). Goldman Sachs has been busy advising clients to dump platinum. On Monday, April 11, 2011, Goldman advised clients to close a profitable long commodity position that including both crude oil and platinum. While they are saying that, JPM is taking delivery...."

This seems huge! Definitely

This seems huge! Definitely more to the story.

See my

post above. JP Morgan, and our government are in this together, and unfortunately most people don't even know it.

Wow, what the heck

are they up too.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."



banks are buying platinum? makes me want to copy them.

I share your sentiment. I

I share your sentiment. I immediately opened apmex in another tab to look at their platinum bullion.

If you want to invest in platinum...

...buy the miners, not the metals themselves. Platinum is an industrial metal as is palladium and their demand is primarily in the automotive industry. They may be good investments, such as many of the other commodities have been, but they don't serve the same role as financial backstop the way that gold and silver do.

A great way to do this is through Vanguard's Precious Metals and Mining fund (VGPMX) which invests in gold, silver, platinum, palladium, rare earth, and diamond miners. It can also hold physical bullion. I have over 35% of my assets in this fund and it has been a spectacular ride.

Cuimhnigh orm, a Dhia, le haghaidh maith.

Thanks for the info!

Thanks for the info!

I agree..

I agree..

$10,000 minimum...

There's a platinum miners ETF...

Yeah, that's the only drawback to VGPMX. Back a few years ago it had a $3,000 minimum but so many people bought into it they had to close the fund to prevent it from becoming too big. When they reopened it about two years ago, it had a $10,000 minimum to stem the inflows.

There's an ETF that basically tracks the platinum miners index called PLTM but I don't know much about it. Perhaps if that seems appealing to you then that might be the best route to take.

Cuimhnigh orm, a Dhia, le haghaidh maith.

yeah me too!

yeah me too!

self bump

self bump