Bloomberg TV

Bloomberg TV

Speaking at the South Florida Economic Summit on Monday, JPM CEO Jamie Dimon casually mentioned the bank has a secret money room in which The Morgue move $2-$5 trillion a day
Perhaps the ESF run by Goldman now has a partner in crime?

In his speech, Dimon also stated that banks shouldn’t be allowed to be TBTF, and that there should be Old Testament style justice for big dumb banks.

We couldn’t have said it better ourselves. 

 

Dimon casually disclosed the existence of a secret money room slush-fund located at an undisclosed location in Florida during the speech:

“We have a great room, I forget the name of it, it’s a money room, at an undisclosed location. It’s in Florida, but it moves, every day, $2-5 trillion around the world. JP Morgan moves a lot of money for corporations and individuals and that room which I took my Board of Directors to, is just very impressive.”

 

Dimon also stated that banks shouldn’t be allowed to be TBTF, and that there should be Old Testament style justice for big dumb banks:
“I agree with people who say banks shouldn’t be too big to fail,” he said. “It should be bankruptcy and the damn bank board should be fired..tax payers should never have to pay and you should believe it. I want to call it bankruptcy for big dumb banks… There should be some form of Old Testament justice including clawbacks of comp.”
Click here fore more:

While we wholeheartedly agree with Mr. Dimon that there should be some form of Old Testament justice for banksters, we wonder whether Mr. Dimon understands that Old Testament justice consisted of raining fire and brimstone from heaven on those who failed to keep the Creator’s commandments?

 

2013 Silver Eagles Are IN STOCK and As Low As $2.79 Over Spot at SDBullion.com!

2013 Silver Eagle

    • J.D. cant keep a secret as his hubris gets the better of his discretion. He’s getting a call from Big B ”I told you not to tell!”
      Imagine if these corrupt insiders had to trade and speculate on fundamentals like the rest of us, without free money from Ben, and winking regulatory passes from Bart Shill-ton and the rest of the corrupt CFTC.

    • He’s such an arse! He is just jumping on the UK bandwagon having announced the result of new legistlation on Monday that banks in the UK will not be bailed by UK taxpayers again and the BOE will be given the power to break them up if (as it was put by select comittee) they try to circumvent new regs and if the UK government decide that the banks need to be watched to much. No link but all over UK news just google George Osborne banking reforms. Mr Dimon is just trying to get ahead of the curve. UK also intend to seperate high st banks and cannot have same CEO in charge of both. I have seen several news articles where the select comittee have said the TBTF’s are completely untrustworthy. The kind of stuff that makes your jaw drop! As i said the writtings on the wall for them here and mr dim is just trying to get it out there before the media crush him firtst. What else would you do?

  1. Yeah, well there should also be some “Old Testament style justice” for those banksters that manipulate the markets!!!!! And how about some “Old Testament style justice” for Jamie Dimon and Blythe Masters for when the entire credit default swaps “house of cards” collapses and takes down the entire global economic structure. Considering that Blythe Masters invented CDOs & CDSs and Jamie Dimon approved and saddled the world with them!!! Jamie “Presidential cuff-links” Dimon is such a POS!!!!!!!

    • regarding his presidential cufflinks – that is a hint of the REAL problem. These bastards are still paycheck players for governments to screw us, and the powerbrokers behind the cutrains.

    • Not that it’s any sort of revelation that a thief can also be a liar.  Biblical justice and no TBTF banks, indeed!  He’s playing to the crowd, doesn’t mean a word of this, and would be horrified if anyone really tried to implement his “suggestions”.
       
       

    • Rogers has a crush on Lauren dirty old man. As for the AE’s there is no shortage, just Dealers buying them up creating a shortage and hoping for the best like we all are. Lol

  2. Ha!  A TBTF bank shuffles around 1/4th of US GDP every day.   It makes sense to me now as to why they can’t get silver to go to $25 or lower even though they have all the firepower to do it.   If the price goes that low, they can’t make good on physical deliveries to silver users and that really causes a problem.   They know a low price point like that for silver would elicit a giant sucking sound of silver coming out of warehouses and into private hands leaving a users with zip.  
    There isn’t enough silver mine supply to supply industry AND investors!   There has been some new silver supply in the last few years like Goldcorp’s Pensaquito, and some of the juniors are going from exploration to small production, but THAT’S IT.   Tahoe is going to bring another 20M ozs a year, but that’s not even $1B worth at these prices!   Barrick’s Pascua-Lama is WAAY overbudget and delayed by a year or more because of capex.   That WAS going to be 30M ozs of supply next year but not now!   I can’t think of any other big silver mines coming online besides First Majestic has a big one and another couple in the pipeline but that is 2-3 years off at least I think.
    Think of the global demographics.   7B people.  Ok, let’s say only 100M of them have a lot of money and decide to buy 100 ozs.   That’s 10 BILLION OUNCES!   It’s all going to add up.  Even if many Chinese working class are only buying a few dozen ozs of silver because that’s all they can afford, it still adds up!   I think they number of serious stackers before this is all over with will number in the tens of millions.    There is not enough silver at these prices.   There’s barely enough gold to keep the Ponzi going and there is billions of ounces of that laying around.   I don’t want to dismiss possibility of a flash crash in many markets that sends everything down at once, but it seems impossible for a 52:1 silver/gold ratio to remain in place.

    • “… but it seems impossible for a 52:1 silver/gold ratio to remain in place.”
       
      I’ve been thinking that for some time as well, yet it remains levitated.  Silver prices WILL rise at some point and the G/S ratio will fall.  If only we had ANY idea of when!  
       
      Currently, I am buying silver on any and all dips.  My current buy price is $31.50 per ozt. I just ordered 225 ounces of silver Maples at that price plus a $2.09 premium.  Got free shipping and insurance as well.  Will buy more on any price dip but maybe not just Maples.  I also like US 90% silver coins, ASEs, and the SilverTowne 5-oz. bars.  Silver seems way undervalued now, so collecting it for the time being seems the best way to go.  Once silver prices start to rise and the G/S ratio declines, I will be looking to trade some silver for gold, probably over time as a form of what… ounce trade averaging?  lol
       
      I am in this for the longer term, so will go long and hold strong.  If a SHTF situation does not come within my lifetime, so be it.  My silver collection will still be around to benefit my family.  We have discussed the real value of silver as a form of financial insurance and that it should be kept for a possible SHTF scenario and not frittered away on toys or other junk.  Hopefully, they have gotten the message on this.
       

    • Yeah, I have to chuckle a bit every time I hear him say that about psychics.  My folks once belonged to a spiritualist church that had a couple of psychics.  They were pretty good too.  They only asked for a $5 donation to support their church but would give a very accurate and detailed reading of what was going on in a person’s life whom they had not met before and did not know.  It was uncanny, to say the least.
       
      My Dad also knew a fellow who was a very good amateur magician who would perform for charity events sometimes.  He too was psychic and would do tricks where he would tell people how much change they had in their pocket or purse and what kinds of coins were there.  He was right almost every time.  He would also tell people the serial number of a bill in their wallet and was almost always right with that as well.  My Dad once asked him how he did it.  He said that his friend got a far-away look in his eyes as he thought about it and then said, “It is a matter of certainty”.  That was all that he would or could say to explain it.  Obviously, he did not really know or understand how he did it, he just did it.
       
      Some psychic tendencies also run in my family and I have seen multiple examples of it.  Much of the time, though, it is not controllable.  Psychic events often happen with neither effort nor control and are almost always completely unexpected.  Because of this, they cannot be “proved” scientifically.  Because of that many refuse to believe them.  No matter.  If you ever have such an experience, you will not need any further “proof” because you will be “certain”.
       
      I have no doubt that there are some real psychics out there.  For each one of them, though, they are probably hundreds, if not thousands, of charlatans who only seek to profit by running a “psychic” scam of some sort.

  3. Got to keep those digits circulating … that’s what perpetrates the complex compounding of interest on it. No matter if it’s ‘bank reserves’, held in a ‘cash drawer or balled up in a sock drawer for a ‘rainy day’ … as long as its circulating, that’s ALL that counts to these financial Cannibals.
     
    These jerks will be the luckiest folks on the planet if the French Revolution isn’t re-run in all the local theaters around the world.

  4. Big Fucking Deal! Jamie we KNOW you are LYING because your lips were moving!
    And so what, 2-5 trillion daily?  Let me tell you something.  My wifes goes into our game room and there’s no doubt in my mind she moves AT LEAST that much around before she quits.  So, Jamie, get Blythe Masters, the entire CNN Staff, MSNBC,  and whoever else you deem worthy and have a coordinated circle jerk!

  5. Bankers are the biggest bulls***ers in the world. They lie more than DA’s at the slot machines telling us how much they won.  Dimon bragging like.  
    Sure Jamie, you got a secret room with $2 trillion.  I got a secret room to.  But mine actually has something of value.
    PS for Ed B with maybe as much as 300 to 1 paper to physical ratio, that buy was worth 75,000 oz of paper silver. Got phyzz?
    Even if silver only doubled in 5 years we will all be way ahead of the game

    • AG… you mentioned the laws of thermodynamics in a different thread.  I’ve been thinking about that and have reformulated them into something more appropriate for everyday life.  My three laws of thermodynamics are:
      1.  You can’t win
      2.  You can’t tie
      3.  You can’t get out of the game alive
       
      Something tells me that the banksters are running their scams with these in mind.  X-p
       

  6. Ed B I have my own 3 rules of thermodynamics. 
    Hot air rises
    water seeks its own level
    S*** floats
    Those 3 rules you mentioned.  I like those odds. 
    Bankers bleed.  Heh Heh Heh!  Yep, those are good odds
    Kind of like Jesse Ventura in the move Predator. 
    And yeah I know he got killed but he forgot to duck.

  7. This probably isn`t that big of a deal.  It is conceivable that an international bank of this size would move $2-5 Trillion a day. I`m sure some of the other big banks will also move around the same amounts.

    Trillions of dollars exchange hands every day for deals.  If I recall correctly, but cannot locate on SD Bullion wire payment instructions, JPM is the bank you wire funds to.  Infact APMEX has JPM as the beneficiary bank as well.
     
    JPM is used as a correspondent bank in many cases when you send funds overseas.
     
    The only issue is whether they somehow can use the $2-5 Trillion that moves through them, but the majority of this money is not theirs it`s just money in transit.

    The commissions they get from it would add up though.

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