BrotherJohnF is back with another Silver Update: Jamie’s Crying,  discussing JP Morgan’s derivative loss crisis, which Jim Willie states is in actuality not $2 Billion, but rather $18 Billion tied to US interest rate swaps.


  1. Still LMAO good on you. Anway to the video Ha! Ha still laughing. Hopefully Silver does start climbing but I doubt if JPM has enough Silver yet to cover their losses so I may hold off from buying for a few days, We’ll see.

    As for Mr. Jamie he has always been crying, he was raised that way.


  2. Just A Few Months Ago He Was Saying:

    “We don’t spend a lot of time worrying about corruption or ownership in this country” <–Yep, Jamie, that’s why we have corrupt companies like JPM.

    “Big Businesses are wonderful institutions and in any institution, sometimes there’s a bad apple, and yet we denigrate the whole institution. People are the world would give their arm and a leg to own these companies” <—Yes Jamie, they have—in some cases their whole savings!”

    “Most of us, wage-earners pay 39%, I don’t mind paying 50%” <—HAHAHA, well, you could write the govt a check for all the money your company has stolen!

    “We Have The Transparent Capital Markets In The World–Yes We Have Flaws–We Should Fix Them!” <–I guess you never got a Roundtuit?


  3. Never weaken    If you can handle the mortgage and can get the lender to make the loan, you are borrowing at a rate not seen in a century. When a bank delivers a loan at a rate about 40% of the present inflation rate, something Shadow Stats says is around 9% today,   and  given inflation is sure to go up with 2-3 years when ZIRP expires, your bank will be hating  life and you will look smarter by the moment.  I say this from an investment standpoint and as a former banker who’s job was to put businesses into debt.

    Debt is debt but super low rates mean that the money you save with a low rate like this can be used more productively elsewhere.  Be sure to keep a solid cash reserve for the ‘just in case’ scenario that can hit any time. 

    These banks are borrowing at 0% so their spread is really nice– FOR NOW.   Unless there is some clause that allows for a bump in rates in the future, this sounds like a good deal.  I have a loan of 3.5% and plan to ride that for as long as I can.  When silver or gold takes a sharp up ramp in price, I’ll take my profits silently and pay off the debt so I can be free of this banker’s hook into my financial picture. 

  4. Never Weaken I found this info

    As part of a government settlement, Bank of America began sending out 200,000 letters to people who have not been paying their mortgage.

    These “troubled” homeowners stand to get some of their mortgage debt forgiven. As much as $150,000 off what they owe on the homes they can’t afford.

    More debt forgiveness for people who overspent and have no way of paying their debt without a rescue.

    Now at the same time deadbeats are getting mortgage forgiveness, people who have been faithfully paying their mortgage and are trying to lock in today’s bargain basement-low mortgage rates to save a little dough. Well, many of them are being denied.

    Loan approval times are stretching longer and longer for those who do qualify.

    The average time it takes to refinance a home loan is now 70 days compared to 45 just a year ago.

    Wells Fargo and Citibank are warning potential borrowers to expect a wait as long as 90 days.

    This kind of policy — rewarding deadbeats while those obeying the rules get hurt — isn’t fair and it’s not right, But these are the kinds of unintended consequences of government intervention in the housing market.

    The Bank of America bailouts are the results of attorneys general across the nation demanding payoffs in the robo-signing scandal.

    Negotiation of the deal took months, during which time nothing in the market got done.

    Meanwhile, the legitimate part of the market — re-fis — should be proceeding and isn’t, at least, in part, because lenders are hung by up by government red tape.

    Fannie Mae and Freddie Mac have introduced new rules that are supposed improve the quality of loans.

    For instance, appraisal packages for the first time must include a picture of your bathroom toilet, to prove the house does in fact have a bathroom.

    But if you want to see government red tape run amok, just look at Dodd-Frank.

    The 848-page law passed in the wake of the financial meltdown calls for the creation of a tidal wave of red tape.

    We’ll be “celebrating” the second anniversary of Dodd-Frank this July.

    As of the start of this month, regulators have missed two-thirds of their deadlines for writing rules, 148 out of 221.

    Just over a quarter of the nearly 400 total required rules have been finalized.

    At this rate, the last Dodd-Frank rule won’t be done until January of 2017.

    And the new regs that are in place have set off a cascade of unintended consequences.

    Not that we really wanted all these new rules.

    As a consequence of Dodd-Frank, Chase is now being driven into the prepaid debit card business, trying to make up for the $15 billion in annual industry revenue outlawed by regulations on normal debit cards, credit cards and overdraft fees.

    This all just shows you the terrible and unintended consequences of government intervention.

    Asking for more rules, asking for a bailout.

    It doesn’t turn out well.

    To quote former President Ronald Reagan: “the nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’”

    Read more:

  5. 2oz & Mammoth 

    Happy mothers day.
    We are all in the same boat with this being our first year without our mothers. It’s hard not planning the things we would do for them, but there always on our minds. Nothing can ever take that away.
  6. Thanks for the helpful advice.  I plan to lower my interest as much as possible, and then pay it off with my metals (hopefully soon).  The payment would be less than an apartment in my area, and we’ve paid off more than 50% of the value.  It’s a no brainer.

  7. Know so many are happy about JMP and their travails, but I’m thinking, in spite of how much I dislike banks….that
    under it all……I like the whole kicking the can down the road dealio…. ya

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