JPM, that arrogant too-big-to-fail bank and its corrupt CEO Dimon, backing all those corrupt politicians in Washington D.C., only came to the settlement table in earnest, when faced with the prospect of a CIVIL lawsuit [where the government could conduct discovery, asking questions under oath, thereby exposing individuals to actual accountability, blame, and perhaps perjury charges], and JPM only increased its settlement offer when faced with the prospect of criminal charges.
The Presidential cuff-link-wearing Dimon, called Holder, only hours before the press conference at which the civil lawsuit would be announced.
Why the hell would Holder “scuttle the news conference?” If Dimon was reaching out to settle, only hours before the news conference, then why did not Holder demand more than $13 Billion? Why did not Holder demand disgorgement of ALL profits, plus a fine, from the fraud that JPM committed? If the lawsuit was all teed up, what would the harm have been from filing it and pursuing it with discovery, depositions, the works?
One negotiates successfully either from a position of weakness or a position of power. The one in the position of power gets the better deal.
Why the hell did Holder cave at this point? Dimon had NOTHING to offer, and the case would only have gotten stronger once depositions and discovery started in earnest.
The obvious truth here, is that BOTH Holder and Dimon needed a settlement for their own personal reasons.
In this excellent interview, our friend T.F from TFMetals reports joins Perpetual Assets to discuss the latest gold take-down.
TF discusses the motives for the massive gold take-down that began in April in the wake of the Cypriot bail-in, stating that the metal HAD to be taken down to allow the bullion banks to cover their historic short positions which were in jeopardy of being obliterated.
TF’s full interview is below:
The financial mainstream media has an ongoing love affair with JP Morgan Chase, the alleged largest culprit in a massive precious metals conspiracy.
The level of fraud in the financial system with utter lack of prosecution or accountability, combined with the ongoing love affair between the largest offenders and collective mainstream, results in financial media being a victim of the so-called Stockholm syndrome. [Read more...]
This latest move in eligible gold deception at the COMEX is so brazen in its audacity, even I am stunned. But, since no one else is talking about it, maybe I’m just crazy. Let me lay it out for you and you can decide for yourself.
This is NOT business as usual. The extraordinary and counter-intuitive price raids, the massive depletion of the GLD, persistent backwardation in the GOFO rates and JPMorgan’s cornering, 70,000-contract, NET LONG gold futures position all warn you that we are in uncharted territory and major changes are afoot. This eligible gold deception currently being employed by The Comex is just another indicator.
By the looks of it, the end of the fractional reserve bullion banking system is rapidly approaching.
In a telephone call on Friday between the US attorney general and the bank’s CEO, the two sides tentatively agreed to a $13billion settlement for JPMorgan’s alleged sales of fraudulent mortgage-backed securities.
The tentative agreement concludes a civil investigation by the California attorney general over the bank’s sale of mortgage-backed securities (MBS) to Fannie Mae and Freddie Mac from 2005 to 2007, as well as the New York attorney general’s probe of Bear Stearns’ sale of MBSs to these two companies. JPMorgan, the largest US bank by assets, still faces a criminal investigation by the state of California. [Read more...]
CFTC Files and Settles Charges Against JPMorgan Chase For Manipulative Conduct In Connection with “London Whale” Swaps Trades
The CFTC has announced Wednesday evening that it has settled with JP Morgan for $100 charges that the bank violated prohibition on manipulative conduct in connection with the London Whale swaps trades which saw the firm lose nearly $9 billion.
In the settlement, JP Morgan admitted that its traders (no mention of Mr. Dimon, who assuredly approved his traders actions removing IG9 swaps delta hedging interest rates) acted recklessly, and agreed to the $100 million penalty. [Read more...]
The information in this report is taken from sources believed to be reliable; however, the Commodity Exchange, Inc. disclaims all liability whatsoever with regard to its accuracy or completeness. This report is produced for information purposes only.
The above legal disclaimer mysteriously, and with no explanation, showed up one day on the Comex gold and silver warehouse stock reports about 8 months ago (roughly). After several years of publishing the warehouse stock reports, why all of a sudden did the CME feel compelled to stick this disclaimer specifically on the gold and silver warehouse reports?
IF the banks are honestly reporting the CME data, it would be the ONLY aspect of their financial reporting that is being done honestly.
My view is that the data being reported by the CME/Comex and the CFTC is not to be trusted. In fact, if we could get a completely independent audit done of the CME/Comex, I think we would find a fraudulent horror show there beyond anyone’s imagination. [Read more...]
Precious metals markets are now the Wild West: a lawless territory where the Judges are bought and paid for, and where brutal and rapacious men are allowed to pillage the populace at will, unchecked by the rule of law. The Sheriff is too cowardly to emerge from his office, let alone do anything to go after the bad guys. He slumps impotently behind his desk, mourning his receding hairline and hoping against hope that nobody brings in more evidence of wrongdoing- not because he would then have to do something (there is no crime so egregious to cause him to bestir himself) but because such revelations make his inaction and cowardice even more publicly humiliating than they already are.
Meanwhile, the townsfolk are realizing they are completely on their own. They stay inside and keep their heads down, trying not to get preyed-on by the gangs of sanctioned looters roaming the territory. The smart ones are quietly stacking all the gold and silver bullets they can lay their hands on, knowing that they and they alone are responsible for their own safety. [Read more...]
JP Morgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got. – Barack Obama on “The View,” May 14, 2012
Is Jamie Dimon smart? I dunno. You give me a couple hundred billion in taxpayer money and freedom from any fear of criminal prosecution and I’ll do things with that money to create profitability would make make me look like a financial Einstein.
The beast named Jamie Dimon, of whom President Obama speaks so glowingly, is a liar, perjurer, criminal and, worst of all, a taxpayer thief. [Read more...]
In the latest Keiser Report, Max Keiser and Stacy Herbert discuss the Lilliputian view on fraud and theft and how this applies to the chief banking knaves at JPMorgan. In the second half, Max interviews Marc Armstrong of PublicBanking.org about turning depositors into shareholders as a fraud recipe shared amongst the Too-Big-To-Fail banks. With public banking, interest is returned to the economy from whence it came. [Read more...]
February, April and June were Comex delivery months that saw the price of gold get hammered. August was a delivery month that saw the price of gold rally. October is a delivery month and gold is getting hammered again. What’s the difference?
I think at this point it’s safe to say that we’re onto something. [Read more...]
Breaking Bad With Big Bank CEOs: How Bad Bank CEOs Use the Bystander Effect to Dupe Good People Into Working For Them
Fractional reserve banking is a criminal, deceitful and wealth-destroying platform, and perhaps the greatest contributor to economic in-stability in existence today.
Usually when there is smoke, there is a good chance there is fire. A really good chance.
Except if you work for the commercial banking industry. When there is smoke, deny, deny, deny is the meme for bank CEOs and this is how they have deceptively convinced thousands of good people around the world to turn away from their collective consciousness and “break bad” with them. [Read more...]