800 million net loss in that investment division.
Still poised to make 17 billion in 2012.
Story will be forgotten over the weekend.
Europe is burning (fiscally).
American banks (JPM) are stuffed full of gangrenous rot (European debt, obnoxiously leveraged garbage...).
MF Global = just the tip of the iceberg. And it's a very, very large iceberg. This story may be shunned/forgotten by all the "muppets"...but the end result will not be (the muppets will see their "wealth"..."vaporized"). MFG had it's margins called by JPM because JPM is dying at the hands of it's own puss filled corpse.
2012 is not the end of the world. It's the end of an age. As new paradigms emerge, the old must first die. The current paradigm is dead and on it's last legs. How will it play out? I'm not sure. It could lead to full scale world war, it could lead to global hyperinflation, it could lead to a mostly painless debt jubilee.
It's like watching all of the stars line up, slowly, one by one.
2012 is going to be epic, in so many ways. I just hope it isn't epic in the total meltdown variety. Who knows.
That is all.
There is the key word, how much is JPM hiding in their doctored books? How much has the FED already taken off their balance and transferred to its own? How many other banks and firms have losses on the same trades? How fast is Bernanke running the press to cover all these losses?JPMorgan Chase acknowledges $2B trading loss
They can only kick the can and paper over the losses for so long, and each time they do it becomes harder an harder the next time around.
The time for currency destruction level printing is fast approaching.
Bloomberg News reported in April that a single JPMorgan trader in London, known in the bond market as "the London whale," was making such large trades that he was moving prices in the $10 trillion market.
Yeah, JPM never manipulates markets. /Tin foil hat pmbugs
I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:
Tin Foil Hats, Economic Reality and the Total Perspective Vortex
Also, have you contacted your Congressional Rep and asked them co-sponsor
Ron Paul'sRep. Paul Broun Jr.'s HR 109877: Free Competition in Currencies Act?
What will the new age look like? Nothing we will treasure, I fear. But I will gladly wear that egg on my face. In fact, I pray for it to be so. Nobody in their right mind wants what appears to be looming on the not-so-distant horizon. Please let it all be a bad dream.2012 is not the end of the world. It's the end of an age. As new paradigms emerge, the old must first die. The current paradigm is dead and on it's last legs. How will it play out? I'm not sure. It could lead to full scale world war, it could lead to global hyperinflation, it could lead to a mostly painless debt jubilee.
My thoughts, exactly.2012 is going to be epic, in so many ways. I just hope it isn't epic in the total meltdown variety. Who knows.
ignominia et contemptum tyrannis
Habeo excelsum artem; afflixerim cum crudelitate illis qui laedas me
Shelley's thinly veiled warning to tyrants:
The monster saw my determination in my face and gnashed his teeth in the impotence of anger. "Shall each man," cried he, "find a wife for his bosom, and each beast have his mate, and I be alone? I had feelings of affection, and they were requited by detestation and scorn. Man! You may hate, but beware! Your hours will pass in dread and misery, and soon the bolt will fall which must ravish from you your happiness forever. Are you to be happy while I grovel in the intensity of my wretchedness? You can blast my other passions, but revenge remains--revenge, henceforth dearer than light or food! I may die, but first you, my tyrant and tormentor, shall curse the sun that gazes on your misery. Beware, for I am fearless and therefore powerful. I will watch with the wiliness of a snake, that I may sting with its venom. Man, you shall repent of the injuries you inflict.”
my feelings on this is since 1999 when phil gramm ( r ) / bill clinton ( d ) , did away with glass steagal ( 1933 ) , banks--brokers can intermingle , so we can see the results of getting rid of glass steagal .
a lot of people will say they don't need regulations , i say crooks must be regulated.
a lot of the problem is the bonus levels the traders get thru performance , if they did not get such big bonuses they would not be taking hugh chances with the stock holders money .
when the fed res give the banks free money where is the risk . we have about 5 big banks , and they are too big to fail, not to me , i say let them fail.
how can a person like jd stay on as ceo ?
whats really sad is when this happens it grags down the whole mkt and everyone in the stock mkt ( with ira's ) loses.
strange that gold is not going up with this news.
Last edited by ILUVRP; 05-11-2012 at 08:40 AM.
If there was never a central banking system like the Federal Reserve, there would be no need for Glass Steagle or regulations of banks. The problem is they unregulated a regulated system making it worse.
Do you want to know who you are? Don't ask. Act! Action will delineate and define you.Thomas Jefferson
Wonder if this has anything to do with Oil prices?
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.