There is a whole lot more going on behind the scenes than we are being told.
JPMorgan Chase chairman and CEO Jamie Dimon recently stated that “there will be another crisis” in a letter to shareholders…
Some things never change — there will be another crisis, and its impact will be felt by the financial market.
The trigger to the next crisis will not be the same as the trigger to the last one – but there will be another crisis.
And Dimon is apparently putting his money where his mouth is.
JP Morgan has suddenly accumulated more than 55 million ounces of physical silver.
So why is JPM suddenly stockpiling physical silver in a MAJOR WAY?
Are Jamie Dimon & JP Morgan Chase anticipating another great economic crisis?
‘Muppet’ has become the derogatory term the smart money uses for the retail investor.
The Jamie Dimons of the world are all just looking for that opportunity to buy low and sell to a Muppet at a higher price; be it in a nanosecond, an hour, or a day. No value added.
In the end, it will very likely have been better to be a bug than a Muppet.
If physical silver’s Arch Nemesis is suddenly stockpiling silver bars at a pace that is only rivaled by the NATION of India, it’s only because the system itself has run its course, and there is nothing left to steal.
As I have long stated, I expect the big “escape” of silver’s price to only occur once their system is done.
So what does this bank know that has caused it to suddenly start stockpiling silver like there’s no tomorrow??
The only people who should be buying bonds today are altruistic billionaire lunatics with a financial death wish.
When The Morgue’s Jamie Dimon is becoming edgy on the risks associated with T-bonds…it’s time to get the heck out of Dodge…
The recent shareholder letter by JP Morgan CEO Jamie Dimon provides a crystal clear example of why it’s so dangerous to encourage and subsidize the corporate welfare babies known as the “Too Big to Fail” mega banks. The letter, which features a gigantic photograph of the executive seated casually with legs crossed in jeans, a shirt that appears almost uncomfortable around his neck in the absence of a tie, and all ten fingers touching flawlessly in what undoubtably took multiple takes to provide the sufficient creepiness factor (the presence of presidential cufflinks cannot be confirmed or denied), expounded on how well the mega banks performed during the financial crisis compared to the hundreds of small banks that failed.
This was understandably too much to handle for Camden R. Fine, president and chief executive of the Independent Community Bankers of America.
While gold is a main focus of the Central Bank market rigging apparatus, physical silver investment demand is their real enemy.
The reason is simple:
Derivatives Are Manipulated.
Runaway derivatives – especially credit default swaps (CDS) – were one of the main causes of the 2008 financial crisis. Congress never fixed the problem, and actually made it worse.
The big banks have long manipulated derivatives … a $1,200 Trillion Dollar market.
Indeed, many trillions of dollars of derivatives are being manipulated in the exact same same way that interest rates are fixed (see below) … through gamed self-reporting.
The criminality and blatant manipulation will grow and spread and metastasize – taking over and killing off more and more of the economy – until Wall Street executives are finally thrown in jail.
It’s that simple …
We were early in reporting on the trend of financial firms entering the U.S. residential real estate market with “all-cash” bids for tens of thousands of homes with the intention of turning former homeowners into permanent sources of rental income. The first of many pieces I published on the topic was in January 2013, titled: America Meet Your New Slumlord: Wall Street.
Now that the financial oligarchs have had their way with the U.S. property market, to the point that average citizens can’t even afford to own a home (Zillow recently showed that 1 in 3 homes are unaffordable), it appears they have turned their sights overseas. What better market for bailed-out bankers to feast on than Spain, with its 50%+ youth unemployment rate and a continued depressed real estate market.
“Afterward, West went into the office, where his first meeting of the day was with Holder and James Cole, the deputy attorney general, in Holder’s conference room. Just as he was telling the two men about his call with Dimon, his cellphone rang. It was Dimon again. West took the call, pacing back and forth at the far end of the room. Dimon proposed a meeting on September 26 and assured him that the bank would come back with a significantly increased offer. West agreed to recommend that Holder postpone the filing of Wagner’s complaint and meet with Dimon. That was an unprecedented move. It’s not every day that the attorney general of the United States postpones the filing of a civil complaint against a powerful Wall Street bank at the request of its CEO so that the two sides can cut a deal in private. Whatever was in Wagner’s complaint, Jamie Dimon did not want it to become public knowledge…
It was the largest financial settlement of all time, and it kept Wagner’s complaint away from the prying eyes of the public.”
Well it appears nothing has changed at the CFTC. Less than two weeks ago we learned that former CFTC commissioner Scott O’Malia, who had fought hard against any new rules intended to reign in Wall Street practices, was leaving the CFTC to head one the biggest bank lobbying groups in the world, the International Swaps and Derivatives Association (ISDA). This is the exact lobbying group that had been pressing against new CFTC rules.
So the CFTC claims it will be vigilant.
Like, for example, allowing JP Morgan to continue to issue fraudulent reports for well over a year despite repeated warnings, and then ultimately settle for a dollar amount that is probably equivalent to the Dimon family’s annual budget for toilet paper? Yeah, that’ll show ‘em who’s boss!
You gotta love American justice. JP Morgan gets off with another slap on the wrist.
As Glenn Greenwald noted, it’s Liberty and Justice for Some.
Myself and a few others – primarily GATA – have been suggesting for quite some time that
While certain newsletter peddlers adamantly maintain the reports are accurate and honest in order to preserve their franchise, there’s nothing like the CFTC imposing a fine on JP Morgan for fraudulently reporting “large trader” data: CFTC Charges JP Morgan With Reporting Fraud.
JP Morgan has finally been caught and sanctioned for playing games with its position reporting in gold and silver in order to hide the true magnitude of its unhedged short positions on the Comex.
Blythe Masters is perhaps the most maligned human being on earth by silver investors due to suspicions of JP Morgan’s manipulation in the silver market. Well she’s back in the news, but it has nothing to do with silver.
Rather, the news relates to the fact that her ex-husband and commodities traders, Daniel Masters, has just launched a Bitcoin hedge fund from the island of Jersey, a British Crown dependency.
Bloomberg has just broken the news that JPMorgan CEO Jamie Dimon will begin radiation and chemotherapy at Memorial Sloan Kettering after being diagnosed with throat cancer.
The Bad Bankster Perp Pool
How many banksters will do a Perp Walk over the next 3 months?
Submit your guesses below…3 PHYZZ prizes are on the line!!