JP Morgan Dimon MastersIn the latest Keiser Report, Max Keiser and Stacy Herbert discuss America’s curse: dollar printing or JP Morgan? They also examine the truth about the fact that despite a mere $4 extra to manufacture a smartphone in America rather than in China, production will remain overseas. In the second half, Max travels upriver to interview Turd Ferguson of TFMetalsReport.com outside JP Morgan’s Park Avenue headquarters. Turd reports that JPMorgan has ‘cornered’ the Comex gold market and also comments on the bank’s silver short and their ‘rogue’ commodities desk, reportedly being investigated by the FBI for obstruction of justice.

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    • From the CFTC article:

      “Starting in 2003, the Federal Reserve Board began issuing orders for banks that essentially allowed them to participate in commodity trading activity and actually deal in physical commodities. The list of banks getting this pass is relatively short, but they are names we all recognize: Citigroup, UBS, Barclays, JP, Deutsch Bank, Societe Generale, Fortis, Wells Fargo, BNP Paribas, Credit Suisse, Bank of America, Scotiabank, Royal Bank of Scotland, and Wachovia. An elite crowd!”

      I don’t know if anyone else noticed this at all, but that list is a veritable who’s who of the list of firms calling for $1000 gold this year. This crap is enough to make you go cross-eyed

    • RE: CFTC article, the fact that it is so “cryptic”, or do I mean “coded” or maybe just presesnted 
      in a humorous manner? is what catches my eye. He said that he was allowed to speak on whatever he wanted,
      and he uses TV Show references to make his points in a rather peculiar manner. I easily got the message, at
      least the superficial message, now I’m wondering if there is a deeper meaning in there…
      Don’t really have time to dig it out. At best it would just verify what we already know!  

    • Yep… and not only that but the tax treatment is most favorable.  GE plays this game all the time.  This is how they earn $20B in profits and pay little to no income tax.

  1. http://www.cnbc.com/id/101032490

     
    Al-Qaeda leader calls to bleed US economy
    Excuse me for being off topic. However, isn’t this fitting that the United States wanted to back Al-Qaeda in Syria and now the so called leader is asking his followers to bleed the United States Economy. So, is this fair to say that the United States Government has now asked Al-Qaeda to attack the American economy too save face. The reason, I am saying this is because   , we already know that The Federal Reserve, Jp Morgan, Goldman Sachs, HSBC, Bank Of America, Morgan Stanley, Bank of Japan and the rest of these central banks are the reason why the United States Government is broke.  These endless wars at the expense of our loved ones, while these greedy individuals live large at their expense and memories. 
    So now the President doesn’t get his war and now Al-Qaeda wants to attack the American Economy. Who is responsible the group of 535.
     

  2. http://en.wikipedia.org/wiki/File:Giotto_-_Scrovegni_-_-27-_-_Expulsion_of_the_Money-changers_from_the_Temple.jpg

     
    Jesus is stated to have visited the Temple in Jerusalem, Herod’s Temple, where the courtyard is described as being filled with livestock and the tables of the money changers, who changed the standard Greek and Roman money for Jewish and Tyrian money.[1] Jerusalem was packed with Jews who had come for Passover, perhaps numbering 300,000 to 400,000 pilgrims.[5][6]

    And making a whip of cords, he drove them all out of the temple, with the sheep and oxen. And he poured out the coins of the money-changers and overturned their tables. And he told those who sold the pigeons, “Take these things away; do not make my Father’s house a house of trade.”[Jn 2:13–16]


    Israel Museum model of Herod’s Temple, referred to in John 2:13.

    “And Jesus went into the temple of God, and cast out all them that sold and bought in the temple, and overthrew the tables of the moneychangers, and the seats of them that sold doves, And said unto them, It is written, My house shall be called the house of prayer; but ye have made it a den of thieves.”
    Matthew 21:12–13

    In John, this is the first of the three times that Jesus goes to Jerusalem for the Passover, and John says that during the Passover Feast there were (unspecified) miraculous signs performed by Jesus, which caused people to believe “in his name”, but that he would “not entrust himself to them, for he knew all men”.[4][7]
    In Mark 12:40 and Luke 20:47 Jesus accuses the Temple authorities of thieving and this time names poor widows as their victims, going on to provide evidence of this in Mark 12:42 and Luke 21:2. Dove sellers were selling doves that were sacrificed by the poor who could not afford grander sacrifices and specifically by women. According to Mark 11:16, Jesus then put an embargo on people carrying any merchandise through the temple—a sanction that would have disrupted all commerce.[4][7]
    Matthew 21:14–16 says the Temple leaders questioned Jesus if he was aware the children were shouting “Hosanna to the Son of David.” Jesus responded by saying “from the lips of children and infants you have ordained praise.” This phrase incorporates a phrase from the Psalm 8:2, “from the lips of children and infants,” believed by followers to be an admission of divinity by Jesus, thus confirming his divinity via prooftexting the Old Testament.[4][7]
     

  3. “In a stunning development, two JP Morgan whistle-blowers have confessed that the bank manipulates the gold and silver markets.  This is truly a shocking admission by the courageous JP Morgan whistle-blowers.”
     
    I don’t think that too many on here are stunned or even mildly surprised by this.  We all know that the big bullion banks have been screwing with the gold and silver markets for decades.  It is nice to have some actionable documentation about it, though, if that is in fact what we have here.  Maybe something good will come of this but I would not bet money on it.
     
    “…and also to the CFTC.  According to Maguire, the CFTC has virtually buried this information.”
     
    If they do and it can be proved, they are setting themselves up for charges of their own as ‘accessories after the fact’ and for ‘obstructing justice’.  These are some heavy duty financial crimes.  Unless Bart and the boys / girls at CFTC have already arranged for their Get Out of Jail Free cards, they could be in some real trouble over this… and about time, too.
     
    “To date, as far as I’m aware, these JP Morgan whistle-blowers have not received any meaningful response to their evidence (from the CFTC), nor have we seen any formal charges laid against this bank.”
     
    As we all know, having charges levied against JPM is just about impossible.  Too big to fail, too big to bail, and too big to jail… the usual Dept. of Just US BS.  JPM is about as connected as a business can be and has enormous power in NY and DC.  There are countries out there that do not have the kind of power that JPM has.
     
    Not that they won’t set some fall guy up to take all the blame and receive a fabulous sum of money under the table, of course.  Lots of people would serve 5-6 years in a country club jail for $20-30M, which is peanuts to those used to dealing in multi-billions.  Work on their tan, use the Internet, watch TV, have decent meals, watch movies, play some video games, swim, lift some weights… you know, the usual jail time for the elite’s servants.  None of them will be within miles of the place, of course.  They will send their attorneys around from time to time to check up on his attitude, though.
     
     
     

    • Gary Gensler is arrogant and stubborn and wants to leave.  I thought he would have left in August but did not happen, stay tuned for him leaving soon.  I like Bart but he seems ineffectual.  I am actually very impressed with Mark Wetjen, really cares and wants to understand the point of view of the true hedgers who use these contracts as they are the ones who truly need access to a market.  That quality is admirable.  I am favorable to Scott O’malia as well.  What I’d really like is to see rubber meet the road somewhere, even if it was conclusively refuting some of the allegations being made… that would at least be something.

    • I think that the CFTC is a lost cause.  They are a lot like the SEC.  They sat on the Bernie Madoff data for well over 2 years without doing much of anything at all about it and the data that they were handed was enough to create a virtually open and shut case… which they did, eventually.  One can only wonder how many fewer people would have been screwed by Madoff had the SEC gotten off their butts and acted as if their own personal wealth was at risk… which it to say RTFN!  Hundreds, possibly, and also tens of millions of dollars.  A medical doctor performing this level of service would be burying a lot of former patients.
       

    • maybe, 808… 
      But this is just some talking head jag-off using terms he does not understand, IMO
      Unless you can show he is connected, then it sounds like a major slip-up! 

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