Harvey says the banks are most bothered by silver. COMEX has a problem, and in London, backwardation in silver (pay more for now Vs pay less for later) shows just how scarce physical silver truly is…

JPM gold vaultIn their biggest scoop of the year, and proving once again why they are the best finance journalists in the business, the Tyler Durden team at ZH has completed a detailed investigation and uncovered The Morgue’s secret gold & silver vault in London.

The apparent top-secret (well, until today) location of JP Morgan’s gold vault is 60 Victoria Embankment, London, which just so happened to be the City of London School from 1879 to 1986, and which JP Morgan has leased since 1991.