The Truth About JP Morgan’s $2 Billion Loss
By Washington’s Blog
|Global Research, May 16, 2012|
URL of this article: www.globalresearch.ca/index.
Before we can understand what’s really going on with JP Morgan’s loss (which will probably end up being a lot more than $2 billion), we need a little background.
In addition, JPM’s CEO Jamie Dimon:
What Does It Mean?
Pundits and consumers alike are reacting to JP Morgan’s loss like a startled herd of sheep.
TAP – make that ‘flock’ will you.!
They somehow believed that the “best of the breed” bank and CEO – the biggest boy on the block – was immune from losses. Especially since JPM has been so favored by the Feds, and Dimon was so favored that he was being groomed for Secretary of Treasury.
Even CNBC is now calling for Glass-Steagall to be put back in place.Banking expert Chris Whalen writes:
And Reuters correctly notes:
TAP comment – Actually a ‘crash’ might be deflationary and not inflationary. Gold is currently falling in value, as is silver. The US$ is rising. The Euro is plummeting. The only certainty is instability in pricing. Whether that be fast rising or falling prices is anyone’s guess. If there’s no cash around, who will fund this sky high gold price? If you want certain gold, buy it hallmarked. The government will reimburse you if a piece is incorrectly hallmarked.
(I manufacture jewellery)
The cabal lifts credit which lifts prices for decades on end, then it withdraws funding and support of banks, sending prices reeling downwards. We might well be approaching the second leg. If JPM is being ‘let go’, the deflationary effect will be colossal. As was 2008’s ‘letting go’ of Bear Stearns and Lehman Brothers. Cash will be king, not gold. Unless they issue further Quantitative Easing. BUt the amounts needed to fund a collapse of JPM will be in another scale to the QE after 2008 – probably politically impossible.