Bix Weir: “JP Morgan ON THE RUN!”

News came out after the close of the market that JP Morgan is SELLING their physical commodity business!!

JP Morgan to Sell Commodities Business

http://www.marketwatch.com/story/jp-morgan-to-sell-commodities-business-2013-07-26

“J.P. Morgan Chase & Co. is putting its physical commodities operations up for sale amid regulatory scrutiny of Wall Street’s participation in that business, a retreat for a company that in the past decade made a costly effort to become No. 1 in that field.”

“The holdings on the block include metals warehouses; ownership in power plants around the country; as well as trading desks that buy and sell oil, gas, power and coal. The businesses employ roughly 600 people and were responsible for less than $700 million in revenue through the first half of 2013, said a person familiar with the situation. The bank will continue helping clients hedge energy risks and store gold and silver in vaults.”

“It isn’t known what this decision means for Blythe Masters, who runs J.P. Morgan’s commodities business. She intends to help the firm look for potential buyers, but it is too early to know what she will do afterward, said a person familiar with the situation.”

END

This is great news for the timing of on the END of physical gold and silver manipulation. Given that the paper price and the physical price parted ways a few months ago (at least in large quantities) it is now time to end the con for good. As I said before, the Good Guys are trying to make it as painless a process as possible. By removing JP Morgan from the physical side and the fact that they have likely covered much of their COMEX short anyways, the Good Guys think that they can quietly back out of the manipulation game.

My take…NOT A CHANCE!

Keep an eye out for an unregulated, gov’t sponsored hedge fund like BlackRock to try and take over take the manipulation reigns. You cannot have a freely traded gold and silver market while you are running an unbacked fiat monetary system.

Very soon the chaos will come and JP Morgan will be right in the middle of it. Remember, they still have $69T in derivatives with $93B in gold derivatives and $17B in silver derivatives!

WAIT…given their total expose to both gold and silver it seems JP Morgan thinks the Silver/Gold ratio is more like 5-1!!!!

Also out today is a settlement between JPM and MF Global. JPM has agreed to pay MFG $160M as payola. After all it was JPM that sent them into the tailspin in the first place!

http://www.fa-mag.com/news/mf-global-reaches-settlement-with-jpmorgan-unit-on-recovery-14994.html

Looks to me like the events I talk about in this week’s Friday Road Trip are beginning to materialize already!

Friday Road Trip 7/26/2013

http://www.roadtoroota.com/members/1236.cfm

Stay safe out there cuz it’s gonna get a bit scary.

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.com

PS – Looks like the Wicked Witch, Blythe Masters, might finally get water thrown on her! That will be a very happy day in our camp