VIDEO CLAIM: JP Morgan/Chase Moved Entire Precious Metals Trading Staff to Singapore During Thanksgiving Holiday
A video is out from independent Journalist Bill Still, reporting that last week, (during Thanksgiving on Thursday) JP Morgan moved all COMEX-Eligible Gold Operators (Traders), to Singapore.
Bill Still further reports that a memo ordered those Traders and their families to relocated to Singapore "by Friday."
Overnight, between Thanksgiving evening and Friday morning, was when the Chicago Mercantile Exchange (CME) suffered a "data center cooling issue" which took down all the precious metals "futures" trading on the COMEX (Commodities Exchange) in the entire United States. The outage reportedly lasted ten hours.
JP Morgan Chase & Co. has long operated a global precious metals trading desk, spanning New York, London, and Singapore. The bank is one of the world's largest gold brokers and has maintained a significant presence in Singapore since at least 2010, when it established a precious metals vault there to store physical gold closer to Asian investors and markets.
Singapore's role as a commodities hub, with proximity to refineries, distributors, and institutional buyers, has made it a logical base for regional operations. However, JP Morgan's core trading activities have historically been centered in New York. So why this alleged SUDDEN move, over Thanksgiving, to Singapore?
Key take away for me is the urgency. It's one thing to move a trading desk, it's another to do it without notice or fanfare and in a matter of days.
Before offering my analysis, you should watch the brief 2 Minute 34 seconds video from Bill Still:
Hal Turner Analysis
The claim that JP Morgan suddenly told their Gold Traders to head out to Singapore IS NOT VERIFIED.
If I presume that Bill Still's reporting is truthful, JP Morgan doing something like this is not, by any measure, "normal."
My initial thoughts as to what the implications COULD BE, returned these immediate possibilities in my mind - which are only guesses and are NOT facts (yet):
A MARKET IN FRACTURE
- The LBMA and COMEX are losing control as liquidity flees to BRICS-centric exchanges.
- This creates a historic divergence between "synthetic" paper prices and the real cost of physical metal.
“We’ve reached the absolute inflection point where Western CME/LBMA liquidity has permanently fractured… All the institutional guys I know have gone to BRICS-facing exchanges. That leaves only a few speculators and momentum traders — and that’s all the cartel has left to play with.”
THE PHYSICAL REALITY CHECK
The data reveals a stunning physical shortage, hidden in plain sight.
- Unprecedented "backwardations" show futures contracts trading at a massive discount to physical spot price.
- This signals a critical mismatch: the paper market is deeply mispriced.
- "There is insufficient physical to meet this enormous demand."
THE PRICE TARGETS
Given the supply/demand shock, the required price adjustments are staggering.
- For Gold: "It will require $8,000 gold" to bring sufficient supply to market.
- For Silver: The consensus is "$80 silver" in the short term, with $140-$200 longer-term.
THE CATALYST IS HERE
The system is primed for a major move, with two key triggers:
1. The massive, naked short position in ETFs like GLD and SLV must be bought back, forcing prices higher.
2. Western institutional investors are moving from 0% to a 4% allocation in gold, competing with inelastic central bank demand.
THE BOTTOM LINE
A pivotal wealth protection window is rapidly closing. The analysis concludes there is not enough above-ground bullion to meet soaring demand at current prices. A lot of people in financial markets are starting to believe the time to swap debasing fiat for physical, zero-counterparty risk gold and silver is now.
There are also serious other possibilities. NONE of these are "facts" and I make NO ALLEGATION or even a suggestion of wrongdoing against anyone or against any corporation; I am merely brainstorming possibilities:
1) This COULD be to cover criminality. . . Moved out on Thanksgiving.....interesting....looks like the "great escape".... Get the Traders OUT of U.S. Jurisdiction?
2) This COULD be a a result of knowledge of a coming implosion of the Precious Metals Paper Market in which it is widely alleged the ratio of paper to actual silver is 1oz : 360 contracts, and JP Morgan COULD be protecting the Traders from being exposed and killed by the many, many, investors they may have stolen from?
3) There COULD be some FALSE-FLAG ATTACK coming against New York City - Imagine a Terrorist attack turns NYC to a skeleton city with a nuke Dec./Jan. The Precious Metals (PM) Market could declare a Force Majeure in PM contracts, to prevent people from being able to demand Physical Delivery of precious metals (that never existed)? To my knowledge, there is NO CREDIBLE THREAT of any such event.
4) Planning to crash the entire stock market? Metals trading would be removed from the chaos?
5) Rats fleeing a sinking ship? Ship =COMEX/LBMA? Of course, it isn't "panic" if you're the first one out the door . . . .
I asked Artificial Intelligence GROK and Grok says:
"Based on COMEX mechanics and the accelerating physical crunch, I peg the silver squeeze ignition on December 23, 2025—the third business day into the notice period when cumulative delivery intentions (starting Dec 16) overwhelm registered stocks (73M oz deliverable vs. potential 100M+ oz claims), forcing a cascade of stop-losses, margin calls, and a 20–30% intraday spike to $65–$70/oz as arbitrageurs scramble amid London's parallel vault drains.
While GROK's analysis seems plausible, it does NOT account for the urgency of the alleged move to Singapore. GROK'S dates don't match.
On Social Media, some people even ventured into the Absurd:
and this gem:
I won't even venture a guess about either scenario.
Suffice it to say something amazing seems to be taking place and right now, none of it looks good.
For what it's worth:
- JPM last week sold 4 billion worth of physical gold, which was the biggest physical delivery since 2008
- Singapore has no gold import tarrifs
- JPM's private bank is located in Singapore
- BRICs governments have sold 93B in US treasuries last week
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