U.S. Senate Finds JPM Lied and Deceived Regulators
Earlier this afternoon, the U.S. Senate Permanent Sub-Committee on Investigations issued a report on JP Morgan, specifically the "London Whale" derivatives trading loss fiasco.
Here are the key links from ZeroHedge:
http://www.zerohedge.com/news/2013-03-14/what-really-happened-jp-morgan-market-simple-example
And below is the Scribd copy of the entire report.
REPORT - JPMorgan Chase Whale Trades (3!15!13)2
I have maintained for months that JPM's naked short position in silver is an enormously over-leveraged and careless bet that they have placed in order to control and manipulate the market; actions nearly identical to those by Bruno Iksil that were investigated and condemned in this report. When JPM's level of deceit in silver finally becomes public knowledge....well, let's just say that things are going to get very interesting.
Once again, truth will prevail and we shall be vindicated.
TF
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Comments
wow
the truth t'will out!
2nd. About time
Excellence. JPM is scum!!
Unfortunately, Jamie Dimon will walk away scott free and Obama will probably give him a medal. He will probably say something like, " See that DOW new high Obama, You didnt do that. So shut up and buy the first round...bitch!"
Obama would say, " Sure, No problem Jamie ill just put it on the taxpayers tab...again". With a big Dumbo eared smile. (cue Hillary Clinton Laugh)
Jamie Dimon is Obamas magic feather.
That graphic would do well.....hmmmm....who knows graphics? Pinning???
FASCIST SCUM!!!
GUY
Fascinating
It seems the US authorities are happy to investigate any wrong doing so long as it happens inside a British bank or in London. Hypocrites.
On the same note
look at the CTFC going after the London fix on silver. London is the weak link. It lacks political cover from a strong government.
Plead the 5th
5th Amendment
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
Bad vibe
Here are a few examples of bombshell news, that had little or no effect on either the perpetrators or the ongoing crime:
you get the gist.
On the other hand, something will ultimately pull down the whole rotten edifice. Maybe it needs to be something huge, or maybe it will ultimately just be one straw, being the final straw.
so the washout?
now will you take the washout/washoff/cleveland steamer off the table? hehe go turd
About F'n time!
Who knows how this plays out but this is the brightest light I've seen cast upon them with the strongest language so far.
If the pol's find nothing wrong and then this eventually blows up with the real truth coming out afterwards because some type of epic meltdown eventually happens I'll lead the march towards DC with a friggin' flaming guitar in my hand.
Gag me with a Barbie doll leg ...
How do you think this "team" would do solving the world's problems? I shudder.
http://www.huffingtonpost.com/2013/03/14/hillary-michelle-in-2016-clinto...
Let me guess ...FLOTUS (current) would be the one running for president. Would save on moving costs. The Current Occupant has no intention of leaving. There's that pesky 2-term amendment that is so annoying.
wax (waaaay) off
Coulda been third
But I'm ninth instead. Didn't know this was a new post so read it first!
Coulda been furst
But I wasn't.
Nice story, to bad it doesn't mean anything
To big to jail is just what it says.
There will be zero consequences.
Some people are still waiting for the Jon Corzine perp walk.
@Byzantium re: silver rarity . . .
follow-up from previous thread wherein you wanted some facts re: silver being rarer than gold above ground:
http://www.gold-eagle.com/editorials_05/zurbuchen052006.html
He did a series of articles along these lines. This one is most proximate to the data you seek. At end of article, you can see other parts of this series he did back in 2006.
looks like max got it right again
JPMorgan's new vault license at comex
will make regulators obsolete with fox at hen house (as it currently exists yet total fubar).
Slap on the hand by a limp senate committee for bad doings...a distraction while they get a vault...! The implications are horrendous.
@ ancient money
If you recall any others, then PM me. There is the likelihood I will be involved in a forum to be set up for this.
cheers
Byz.
Edit: Jason Hommel may also be a primary source, I'll check it out when I have time.
(No subject)
Perhaps it will take a thousand cuts.
They have to be getting close.
DEBATE - JPMORGAN SILVER MANIPULATION: FACT or FANTASY? - Bill Murphy vs Don Harrold
Unconventional Finance
@Byzantium . . .
This article is pretty thorough. He found that there is more total silver than gold above ground, counting everything (1:6 gold: silver), but agrees that deliverable form finds silver lacking, but with potential, at much higher prices, to bring more back to market.
He sort of attacks Butler early-on, but as I recall, Butler was talking about deliverable silver as well when he spoke of the relative rarity.
I think you'll find it pretty interesting and conclusive, at least up to 2006.
Byzantium
"Here are a few examples of bombshell news, that had little or no effect on either the perpetrators or the ongoing crime:"
Indeed. It has no effect because everyone who's involved ignores the problems - just as long as they can keep making money.
Why did the LIBOR manipulation disappear so quickly from the news, when it was, and still is, the biggest scam of all time?
Because it has to be disappeared, helped along by the way it's presented by the MSM. "London Inter-Bank Offered Rate". Just saying that is enough to keep the sheep switched-off and asleep.
So the scams continue.
"something will ultimately pull down the whole rotten edifice"
Yes. The truth always comes out in the end. Lies have no ground. It's inevitable that it will all collapse in time.
Poetic Ramblings of a lost Swine
The years are rolling by us
They are rocking evenly
We are older than we once were
But younger than we'll be
That's not unusual
No, it isn't strange
After changes upon changes
THE CROOKED MOTHER F**KERS ARE STILL GOING TO BE LOOTING, PILLAGING, RAPING AND GETTING AWAY WITH IT WHILE WE JUST SIT AND SUCK ON IT!!!!!!!!!!!!!!!!!
Top 5 articles at ZH are all re: JPM.
Hmmmm. Don't recall seeing this before.
And since we as humans tend to act as antennae wrt things to come, perhaps the chickens are coming home to roost.
We always have hope.
Kcap
@Kcap
is it the chickens or the wolfs?
There is no doubt in my mind...
....That Jamie Dimon is about to receive the Nobel Prize for economics. That way he and OweBomba can have something in common when they are doing blow in the backroom at The Blue Oyster.
Edit: AgNovice, love the fifth! Good one!
JPM too big to jail. Fraud as big as a whale
Findings of Fact:
JPM is both as bent as a nine bob note, and out of control. Banksters breaks laws with impunity. Executive management are criminally negligent but no-one calls for prison or consequences for the bankster elite, just fines. But woe betide a commoner who dares transgress! Then it's the Taser and full invasive body search, then off to the clink for life, and don;t forget the Vaseline my beauty.
Feck why didn;t this take over four years to sort out? How could they release the truth like this on a non bad news cover day?
Also just watched that Russell Crowe Robin Hood flick. What a croc. From Hadrian's Wall, to Sherwood to the white cliffs of Dover to fight the French all in a 20 minute canter? Fighting the French??? Robin Hood? WTF is this film about??? As an Aussie he should be embarrassed to be involved with shite like this. Almost as bad as that crap film about the Enigma machine.
U.S. Senate Finds JPM Lied and Deceived Regulators
Yawn.........and in other news......water has been found to be wet!
Jammie Dimon
Will be like all the others Corrizne, and that bastard Mozillo from Countrywide nothing will happen. We are run by bankers for bankers and slaves to bankers.
How to interpret government findings
Government findings are political documents, not factual documents. They may or may not include a whiff of fact here and there, and the omission of pertinent facts elsewhere, all designed to support whatever political conclusion is desired. Often times when the public outcry becomes overwhelming, the government will come up with some "findings" that they hope will be sufficient to silence the masses, while still providing a safe out for the perps should they happen to be favorite sons of politicians. So, while I welcome some findings purporting to expose JPM's nefarious dealings, you can rest assured that it is at best incomplete and probably not entirely accurate. We cannot count on government to expose a damn thing or to fairly and properly regulate any institution. We are on our own. Things are manipulated, we know it, and we must deal with it. If we are counting on government to expose something which will affect the market, we are speculating and will probably lose. Keep stacking if you believe the dollar will go down, get out if you don't.
RATS
I would like to see jail time for these JPM criminals but we all know the drill. To big to prosecute don't we know. Meanwhile Corzine is laughing his arse off.
Please allow me a rant
If this is flaming - please let me know. Maybe I'm just irritable and intolerant.
As I read through the last thread, there were a couple of posters who were concerned with the amount of above ground of silver. They decided they did not have enough facts to know. As if that were important.
DUDES - IT DOESN'T MATTA!!!!!!!!!!!!
Silver will be the first element to become extinct according to the USG.
Silver is a currency. It has been so for thousands of years. The same word for currency and silver (in some relation) exists in numerous languages (including Mandarin I might add).
Silver will be a currency again - why do you think the premium on 90% US Ag is at an all time high? Why are ASE sales at an all time high? They will be used for barter in a SHTF scenario. Silver stopped being a currency a short 48 years ago in the US. Why is a 1964 US $.10 now worth $2.20? People are waking up. Inflation is going to eat us alive whether or not there are undisclosed billions of tons of physical silver or not. Where are you going to put extra fiat dollars?????????
C'mon this website is about the end of the Keynesian experiment.
Decide if you are a trader or a holder. If you are a trader - good luck.
Decide if you believe in the thesis that:
GLOBAL MONEY PRINTING IS GOING TO LEAD TO MASSIVE INFLATION
Keep stacking. Keep stacking. Keep stacking. You cannot go wrong -
BUY EVERYTHING YOU THINK YOU MIGHT NEED - JUST IN CASE!!!!
DEVELOP A PLAN FOR NUMEROUS SCENARIOS - JUST IN CASE!!!!!
STOP WORRYING ABOUT IRRELEVANT STUFF.
"INVEST" IN PHYSICAL SILVER BECAUSE IT IS RIGHT THING TO DO - PERIOD.
OK now - I'm done.
Thanks