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JP Morgan / le patron de la division asie quitte la firme
ça n'est pas un mouvement isolé, comme le souligne, à nouveau Jesse
Citation :
The American derivatives dealers and agents of fortune are leaving Europe and Asia, as the currency wars intensify, and the Banksters are sent home.
on se souviendra que Greg Smith, qui a démissionné avec fracas de goldman Sachs, était directeur exécutif de la firme pour les dérivés en europe, au moyen orient et en afrique
A Top London Banker at JPMorgan Chase Resigns One of JPMorgan Chase's top bankers in London resigned on Tuesday.
Ian Hannam, JPMorgan's global chairman of equity capital markets, left the bank after British financial regulators fined him for disclosing inside information.
Mr. Hannam said he would appeal the decision, which relates to two e-mails sent in 2008 to a prospective client. The e-mails contained information on Heritage Oil, a British oil and gas exploration company, for which Mr. Hannam was lead adviser, according to a statement from the Financial Services Authority of Britain. The regulator fined Mr. Hannam £450,000, or $721,000, for the offenses. MH
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est ce un hasard ... mais Blythe Masters était interviewée par CNBC sur la manipulation du marché de l'argent ... qu'elle a bien entendu nié, prétendant comme à l'habitude que les shorts positions sur l'argent de JPM sont couvertes par du physique
Oh yeah baby … just got the link to the link of CNBC’s interview with the JP Morgan’s commodity honcho, Blythe Masters, who has been brought to the attention of Café members in the past …
This is REALLY good stuff and a must watch for all Café members … and that is from someone who is not into watching videos. We can get more into this on Monday after some feedback, but there is one key point here. The interviewer, Sharon Epperson, actually got into the scuttlebutt about JPM manipulating the silver market. I would like to hear more from anyone you who would like to comment because I will have more to put out there on Monday, but there is one thing for me that STICKS OUT.
In this wonderful interview Ms. Masters implies, states, that JPM has no "directional" interest in the market. What happy horse shit (hate to swear in writing, but so appropriate here), is that? JPM has been the massive silver short for more they I can remember. How can it not be in their interest to make money on the short side?
In this interview Masters states their positions, as in silver, are hedged. WHAT THE FREAK? There is no way their huge short position is hedged, unless they are now counting their silver ETF (SUV) as part of those hedges. When I met with Bart Chilton and the CFTC in December of 2009, we went over this. I asked the CFTC to have Morgan verify their hedged shorts. As far as I know, the CFTC has done NOTHING in this crucial matter.
hola, encore un truc qui sort :cette fois ci il s'agit du marché des dérivés de taux ( 10 trilliards de $ tout de même , c'est le plus important marché de dérivés)
et JP Morgan est accusé par 5 contreparties de hedges funds et de banques rivales de manipuler ce marché , en le conduisant exactement là où ça l'arrange
il s'agit de Bruno Iksil, trader de la division Londres de JP Morgan
j'avais parlé plus haut dans la file de l'interview CNBC de Blythe Masters... qui prétendait agir pour le compte de ses clients on voit encore à quel point avec l'affaire Alabama, à quel point Blythe se fout du monde ! derniers commentaires, cette fois ci chez Jesse
à propos de l'interview de Blythe Masters sur CNBC,
si JPM ( et Blythe ) sortent ainsi du bois, ça n'est certainement pas par hasard,
c'est bien la 1ere fois que JPM "répond" sur les accusations qui lui sont faites depuis de très nombreuses années
Pourquoi maintenant?
Ted Butler a son idée la dessus ... peut être se prépare t'il ENFIN qqchose du coté de la CFTC ou d'autres ennuis ... mais le vent tourne et Blythe s'est senti obligée de "paraitre"
peu importe ce qu'elle dit ... on sait tous ici, que c'est du gros pipeau, l'important et la nouveauté c'est que CNBC qui n'a jamais évoqué la manipulation du silver market ( à part évidemment pour se moquer de l'épisode des frères Hunts ) le fasse maintenant...
et que ce soit Blythe Masters, et non la CFTC ( qui n'a toujours pas terminé son enquête sur la manipulation du marché de l'argent ), qui vienne clamer son l'innocence de JPM
Pourquoi diantre prend t'elle les devants ainsi ?
Tout ça indique un bouleversement majeur du marché de l'argent
Au fait, et pour ceux qui connaissent un minimum les bases du langage du corps, je vous invite vivement à reregarder les postures de Blythe Masters... que je trouve, pour ma part, bien plus éloquentes que ce qu'elle raconte.
bref, je vous laisse lire l'article qui vaut vraiment le coup !
un rien crispée ma pauvre soeur.... et surtout, sa phrase finale qui dit en substance qu'elle est à fond pour la régulation et la baisse des connections entre protagonistes mais qu'il faut faire attention à "bien" réguler et qu'il serait très fâcheux pour la liquidité du marché que le détail des activités soit trop exposé au public...
moi, j'appelle ça un demi aveu, empreint d'un brin de menace...pas vous?
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Malheuresement pour Blythe Masters, ses allégations sont en totale contradiction avec les statistiques fournies par Office of the Comptroller of the Currency [OCC]
sur les 76 trillions de $ de dérivés détenus par JPM
Blythe déclare que JPM agit uniquement pour le compte des clients de JPM ( end users ), alors que les statistiques officielles montrent clairement qu'il n'y aucun "end user" sur le marché des dérivés : zero, zip nada
ces statistiques, sont, faut'il le rappeler, compilées à partir des informations fournies par les banques, elles même !
JPM ne travaille pas pour le compte de clients, comme elle le prétend... son client c'est le trésor US
Blythe Masters Lays an Egg
On April 5, 2012, JPMorganChase commodity executive Blythe Masters appeared on CNBC, and she was questioned whether the bank is manipulating metals markets?
"There's been a tremendous amount of speculation, particularly in the blogosphere, on this topic," she told CNBC. "I think the challenge is it represents a misunderstanding of the nature of our business. ... Our business is a client-driven business where we execute on behalf of clients to achieve their financial and risk-management objectives. ... We have offsetting positions. We have no stake in whether prices rise or decline."
So Blythe Masters would have us ALL believe that J.P. Morgue’s 76 Trillion derivatives position – illustrated below - is ALL CLIENT DRIVEN:
source: Office of the Comptroller of the Currency [OCC]
The Undoing of Blythe Masters and J.P. Morgan Chase
Perhaps Ms. Masters is unfamiliar with [or conveniently forgets, perhaps?] the manner in which the OCC gathers and presents data, namely, they gather and publish data submitted by the banks themselves in submissions known as “Call Reports ”.
Here is what the OCC tells us about “end users” or clients [or clients who want to be identified, perhaps?] for derivatives, namely, THAT THERE ARE VIRUALLY NONE:
source: Office of the Comptroller of the Currency
You Cannot Have it Both Ways Blythe
This is EXTREMELY INDICTING. The head of J.P. Morgue’s derivatives nightmare is telling the world that their business is “customer driven” and on the other hand – the OCC – whom J.P. Morgue reports to - is telling us there are NO CUSTOMERS [or none that want to be identified] for these hundreds of TRILLIONS of derivatives products? The reality is that Blythe Masters is telling a partial truth – in that J.P. Morgue’s trading is customer driven; and partially misdirection in that Masters refuses to acknowledge that J.P. Morgue’s client “IS” THE Treasury [specifically, the Exchange Stabilization Fund, or, ESF] of the United States of America. It’s appropriate – with this being Easter – that Blythe Masters would lay-such-an-egg in the mainstream press. Appropriately, it has landed squarely on her own face.
(And why you need to know why silver is headed up beyond $500/oz.)
Silver Stock Report
by Jason Hommel, April 11, 2012
Allow me to bring you up to date on what you need to know about JP Morgan’s manipulation of the silver market.
It is being exposed, and JP Morgan is failing, and losing money on their scheme.
On April 5th, we were given the gift of JP Morgan’s Blythe Masters giving a TV interview on CNBC where she was trying to claim that JP Morgan does not hold any position in the silver market, but rather, is hedging client long positions in silver.
Blythe says, “We store significant amounts of commodities, for instance silver, on behalf of customers. We operate vaults in New York City, in Singapore and in London. Often when customers have that metal stored in our facilities they hedge it on a forward basis through JPMorgan, which in turn hedges in the commodities market,” she said.
“If you see only the hedges and our activity in the futures market but you aren’t aware of the underlying client position that we’re hedging, then it would suggest inaccurately that we’re running a large directional position,” she added. “In fact that’s not the case at all. We have offsetting positions. We have no stake in whether prices rise or decline.”
The article and TV interview are here: JPMorgan Not Speculating on Commodities: Blythe Masters http://www.cnbc.com/id/46969993
Note the phrase: “the underlying client position that we’re hedging.”
Excuse me, my instinct tells me that clients don’t want their long silver positions hedged, or sold short. Why would a client with a long silver position want the bank to create an offsetting short position for the client? If you buy stock or shares in a company, do you want your brokerage firm to short the company you just bought to “protect” you from upside gains? This explanation makes no sense. A client with such a long and short position would also have to pay storage fees on the long silver position, and then lose all of any upside gains due to the short position. It makes no sense, in the way that Blythe is trying to get us to understand the words she is using.
As I understand things, JP Morgan (and many other banks, but mostly JP Morgan) has many clients who want to be long silver, in the OTC or “Over The Counter” market and LBMA market, up to perhaps $100 billion to $200 billion worth of “silver” in “accounts”. But JP Morgan (and other western banks) never went out and bought this silver in the first place, because there does not exist $100 billion to $200 billion worth of silver to buy in a world that produces and mines only about $6 billion (at $10/oz.) to $21 billion (at $30/oz) worth of silver per year.
This puts JP Morgan (and other banks) in a natural short position, as they owe their clients 10-20 times more silver than the world produces annually.JP Morgan thus has this massive natural silver short exposure. To protect the bank from the silver short position, JP Morgan must cap silver prices, by shorting silver on the COMEX, where prices are set. Otherwise, as silver prices rise, the bank loses more and more on the silver they are supposedly holding for their clients. Only in that sense, does JP Morgan have “offsetting positions”; in other words, shorts on COMEX to back up or shore up JP Morgan’s other losing short positions (client long positions)!
JP Morgan cannot offset such OTC positions in the OTC market. Except, in the sense I just explained, every single additional “sale” of silver in the OTC market protects and hedges every other sale, as all sales of “silver” in “accounts” to customers have the cumulative effect of preventing people from buying and taking delivery of real physical silver which would drive the silver price up.
The key reason why the London LBMA and OTC silver selling is so successful is that nobody ever asks for delivery of the silver, because there is a 20% tax on silver delivery in London. See here: http://en.wikipedia.org/wiki/Silver_as_an_investment#Taxation
There were two good commentaries on JP Morgan’s Blythe Masters TV appearance, here:
The Russia Today TV show is 27 minutes long, and begins with Jeff Christians shocking admission at the CFTC hearings that the silver market trades 100 times as much silver as really exists to back up all the positions and trades.
JP Morgan first admitted having (or trying or wanting to cover) a short position in silver back in December 2010, about a year and 5 months ago. This was reported by the Financial times, and by Barron’s, and others.
What’s excellent today is the comparison of today’s explanation to JP Morgan’s lie from a year and 5 months ago. Back then, JP Morgan was trying to claim they were closing out, or had closed out, their short positions in silver. Today, a year and 5 months later, they supposedly have this rational excuse that their firm’s short positions in silver exist to offset other client long positions.
Both explanations are lies, obviously. What I like about the lie of “offsetting client long positions” is that it is a lie disguised by the truth. The truth is that they do have client long positions that would likely bankrupt the bank if they filled those positions and tried to buy silver that does not exist, and to hedge that exposure, they must manipulate the silver market’s prices lower. Thus, the current lie is sort of like an admission of the truth, but they are being very deceptive and tricky about how they present it. The best kind of lie is simply a distorted version of the truth, of course.
The New York Post exposed JP Morgan’s manipulation of the silver market back in May, 2010, when they exposed an ongoing investigation by the CFTC AND the US Department of Justice into JP Morgan’s silver trading.
My readers told me they wrote to the US Department of Justice about silver manipulation, without mentioning any company names, and the US Department of Justice sent back form letters saying they were looking into JP Morgan’s activities in silver, mentioning JP Morgan by name!
So, what about my claim of the size of those OTC silver positions being in the range of $100 billion to $200 billion, which are far larger than the silver that trades on the COMEX?
Well, those are not my claims, but rather, those are numbers produced by the BIS, the Bank of International Settlements. I have repeatedly reported on these figures here:
BIS Admits $190 Billion Silver Fraud (Almost, if you know where to look!) by Jason Hommel, April 6th, 2009 http://silverstockreport.com/2009/OTC-silver-fraud.html The discrepancy or change in the BIS data from $203 Billion of “Other Precious Metals” (in other words, silver) down to $93 billion is still being reported at the BIS website.
See Table 22a, Amounts outstanding of OTC equity-linked and commodity derivatives, in the category of “Other Precious Metals”. Scroll down about 90% into the pdf documents.
This BIS data is the smoking gun of manipulation in the silver market.
There is no way that the big banks can increase OTC shorts by $100 billion in silver in 6 months, when the world barely produces $15 billion of silver per year, without the silver price going bananas to the upside, unless this kind of silver derivatives exposure is silver that is owed to clients, which is essentially a naked short position, or silver that was “bought” by the customers, but never purchased by the banks in the open market, purposefully and maliciously and with the specific intent to prevent the silver price from running away to the upside, and to keep the fraud of the paper dollar going as long as possible. This is really revealing the fraud of the multi trillion dollar paper money scam that the world has going.
There is no reason to disbelieve the BIS numbers when the banks accidentally reveal data that condemns them, and exposes the silver short selling fraud; and every reason to suspect bad faith and nefarious intent when they later edit the data at a key time, Dec. 2010, when JP Morgan is being investigated by two arms of the US Government.
JP Morgan first took on this silver short position when silver was about $20/oz. Later, the silver price was manipulated down to $9/oz. Today, with silver at about $32, we can see that the manipulation game is failing.
All frauds eventually fail completely. This one will, too. In the end, holding silver in accounts with large banks will not help you. You need real silver in your own real vault that you have personally lifted and stored away. Any other kind of silver that others hold for you is likely fraud, and will not protect you in the event of the collapse of the dollar or the collapse of the financial system or the collapse of your brokerage company.
By the time this fraud is exposed fully, and by the time a mere 1% of people or money in America starts buying silver, such as only about $180 billion in the banking system, the silver price will exceed $500/oz. and large firms such as JP Morgan will either be bankrupt, or they will be bailed out to the tune of trillions to keep the financial system together, which will create further inflation that will drive 2% of people into silver, and create the very runaway metals market that will just not stop until all paper money and paper accounts are destroyed for generations.
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I strongly advise you to take possession of real gold and silver, at anywhere near today’s prices, while you still can. The fundamentals indicate rising prices for decades to come, and a major price spike can happen at any time. Click here to subscribe to Jason Hommel’s Silver Stock Report email updates:
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toujours à propos des allégations de Blythe Masters sur le soit disant trading pour compte de clients
ET également à propos de l'affaire du trader dérivés londonien de JPM, Bruno Iksil
un très interessant article de Bloomberg ... Iksil, on n'a pas fini d'en entendre parler amah !
Citation :
What Bernanke is to the Treasury market, Iksil is to the derivatives market,” Bonnie Baha, head of the global developed credit group at DoubleLine Capital LP in Los Angeles, where she helps oversee $32 billion, said in a telephone interview.
sur la façon dont JPM a réorganisé la boite, pour déplacer ses activités de trading personnel , de manière )à laisser le moins de traces possibles ( surligné en rouge par mes soins dans l'original )
Citation :
It turns out Blythe Masters, JPM's head of commodities trading, lied her ass off on CNBC last week when she explained on CNBC that JPM's trading business is client-driven (most of knew she was full of shit). But I thought everyone on Wall Street told the truth when they were on TV (wink wink). Here's the report that explains how JPM has simply moved its proprietary (the in-house hedge fund aka "prop trading") functions into the office of the CIO. This maneuver was done in order to move the risk-based capital trading out of the securities unit and into the bank holding unit. Why? Twofold: 1) it removes the proprietary trading away from the eyeballs of the securities regulators and the Volker Rule AND 2) it shifts this risky trading into a business unit that would be covered by the FDIC. It's what Bank of America did when it moved something like $52 trillion in gross derivative positions from its Merrill Lynch securities unit to its holding company.
Here's the report: LINK That article only mentions currency trading in passing but I would bet BOTH of my testicles that the CIO prop positions include a heavy does of gold and silver COMEX short positions. In fact, I recall about 18 months ago JPM announced that it would be moving its precious metals prop positions up to its bank holding company. You can google it to verify that I am correct.
Passionnants rebondissements: et les explications d'Hommel sont limpides; c'est d'une simplicité enfantine quand on prend la peine d'y penser de cette manière...
Silver is king, Go Gold ! G.Sandro pas de copier collé: merci de faire un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook
ils essaient encore de nous faire le coup de l'erreur ou du trader "fou" ...alors qu'il s'agit toujours des mêmes turpidudes !
on notera que cet "unique" trade portait ( évidemment ) sur les CDS
JPMORGAN perd 2 milliards de dollars sur un trade :
(AOF) - JPMorgan a annoncé jeudi soir qu'un de ses traders avait perdu deux milliards de dollars sur des dérivés de crédit. « La nouvelle stratégie était mauvaise, complexe, mal supervisée, mal exécutée et mal gérée » a résumé le patron de la banque américaine Jamie Dimon. Il a averti que cette stratégie pourrait encore faire perdre à la banque plus d'un milliard de dollars supplémentaire.
D'après le « Wall Street Journal », le trader vendait des CDS (credit default swaps), un produit dérivé permettant de se protéger contre un évènement de crédit, comme un défaut de paiement, sur un indice de 125 sociétés. Ce qui revenait à parier sur l'amélioration de leur crédit, ce qui n'a pas eu lieu.JPMorgan a précisé que sa division « Chief Investment Office », une structure chargée de gérer ses risques enregistrerait une perte de 800 millions de dollars au deuxième trimestre au lieu d'un bénéfice attendu de 200 millions de dollars.Malgré cette lourde perte, JPMorgan prévoit de réaliser un bénéfice après impôts d'environ 4 milliards de dollars au deuxième trimestre.Cette perte de trading ternit la réputation de la banque américaine qui s'était mieux sortie de la crise que ses concurrentes.
*******************
excellent décryptage de tout ce bazard , complicités en chaine, corruptions au plus haut niveau, etc etc etc
nul doute que cette brave femme trouvera un poste à la hauteur de ses compétences à la tête de GS, Bofa, Morgan Stanley ou autres ...
"tirer les enseignements etc" : ils se foutent du monde... à un point !
La banque JP Morgan confirme le départ d'une dirigeante après des pertes colossales :
La banque américaine JPMorgan Chase a confirmé lundi, quatre jours après la révélation d'une perte de courtage d'au moins 2 milliards de dollars, la démission d'Ina Drew, qui détenait le poste clé de directrice du placement, annoncée dès dimanche par les médias américains.
La banque a annoncé par ailleurs la constitution d'une équipe de travail réunissant plusieurs cadres dirigeants afin de "tirer des enseignements et fixer les meilleures pratiques dans l'ensemble de la firme" à la suite de ces pertes.
Mme Drew, 55 ans, a derrière elle une carrière de 30 ans chez JPMorgan Chase.
Le New York Times avait indiqué dès dimanche que Mme Drew avait "présenté sa démission à de nombreuses reprises depuis que l'ampleur des pertes a commencé à devenir apparente fin avril, mais (le patron de la banque) Jamie Dimon s'est abstenu jusqu'à maintenant de l'accepter".
Le quotidien ajoutait que le départ de ce "lieutenant de confiance" de M. Dimon marquait "un retournement de fortune spectaculaire pour l'une des femmes les plus puissantes de Wall Street."
Mme Drew est remplacée par Matt Zames, qui avait jusqu'à présent des responsabilités à la fois dans la banque d'investissement et dans l'activité de prêts hypothécaires.
En outre Mike Cavanagh, ancien directeur financier de JPMorgan et directeur général de l'activité de bons du Trésor, est chargé de diriger le groupe de travail qui aura pour tâche de "superviser et coordonner la réaction de toute la banque" suite à ces pertes massives.
"Il est important de se rappeler que notre entreprise est très solide et bien capitalisée", a souligné M. Dimon.
"Nous gardons un bilan en béton et une capital solide qui nous permettent de résister à des revers comme celui là, nous tirerons des leçons de nos fautes et resterons concentrés sur nos clients qui comptent sur nous chaque jour", a-t-il conclu.
L'action JPMorgan perdait 2,76% à 35,94 dollars un quart d'heure après l'ouverture de la Bourse à New York.
*The flap over JP Morgan makes little sense, unless there is SO MUCH MORE than meets the eye … as many of us think. What’s a $2 billion trade loss compared to what I heard on CNBC this morning … that they made $18 billion in a year?
Here is a real joke:
11:21 JPM JPMorgan Chase trading loss being investigated by the Justice Deptartment - WSJ According to the headlines, it is unclear as to what violation may be investigated. * * * * * You mean as in the CFTC investigating JP Morgan and their silver scam? If presenting emails to the CFTC ahead of time about what Morgan was going to do with its signaled allies went nowhere, then forget about the Justice Department doing anything to the Fed’s bank. Why would they be investigating about a bad trade in the first place? That’s what needs to surface.
*Only a matter of time and another reason why gold and silver are under such orchestrated pressure…
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comme d'hab, on va découvrir au fur et à mesure, l'ampleur des pertes réelles qu'on essaie toujours et encore de faire passer pour une simle erreur de trading !
The unit at the centre of JPMorgan Chase's $2 billion trading loss has built up positions totalling more than $100 billion in asset-backed securities and structured products -- the complex, risky bonds at the centre of the financial crisis in 2008.
These holdings are in addition to those in credit derivatives that led to the losses and have mired the bank in regulatory investigations and criticism.
The unit, the chief investment office (CIO), has been the biggest buyer of European mortgage-backed bonds and other complex debt securities such as collateralised loan obligations in all markets for three years, more than a dozen senior traders and credit experts have told the Financial Times.
The bank has said its derivative activities were intended primarily to help balance risks on its overall balance sheet, but the revelation that it has built up other large, risky positions is likely to raise further questions about the CIO's remit.
je croyais pas si bien dire, hier .... c'est fou ce que le coût de la vie augmente, hein ...
et amah on n'est pas au bout des "révélations"
donc et pour le moment, les pertes JPM sont évaluées à 5 milliards de $
Citation :
Those trading positions have produced losses that could total as much as $5 billion, tarnishing the record of an executive who had thrived through the global financial crisis and who has long been known for paying close attention to the bank's trading activity, its risk profile and the activities of its senior employees.
Faster than anticipated? More JPM nonsense. You telling me Dimon did not know this last week? No way. What might they be by next week? The JPM financial market scandal is in its early stages.
Getting to the second point, from the GATA silver manipulation view. JPM has always been up to no good in the precious metals arena and we have pounded the table to expose them … a la Markopolos going to the SEC about Madoff. Did JPM orchestrate the silver slam in order to cover a good amount of their short positions, knowing the jig is about up? Hard to say, but with the spotlight on them, it might be much harder for them to continue their silver scam with their so-called hedged silver positions as time goes by. The CFTC has been put on notice at their own peril on this one.
now que JPM est pris la main dans le sac, ce sera certainement plus délicat de manipuler si outrageusement le marché de l'argent ...
on a vu dans la dernière vidéo Cot silver qu'ils avaient bien profité du raid orchestré, pour couvrir abondamment ...peutêtre savaient t'ils que ce "merdier" allait sortir ...
où elle avait le toupet de déclarer que JPM ne drive pas les marchés... qu'il s'agit juste de hedging des positions des clients ...
100 milliards de positions sur dérivés, uniquement pour cette unité si spéciale, et sur les produits les plus risqués ==> euh ... prise en flagrant délit de mensonge éhonté, la Miss !
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putin ...je relis l'article... figurez vous que ce pauvre Jamie Dimon a appris les pertes de son trader fétiche, Bruno Iksil ... en lisant le journal !
ils sont trop forts, là ..., j'en peux plus !
Citation :
All that changed on April 6, when Mr. Dimon read a page-one article in The Wall Street Journal about how Bruno Iksil, a CIO trader dubbed the "London Whale" because of his large trades, was roiling the markets and putting the bank at risk of losses.
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cette interview où Nassim Taleb compare JPM à la mafia, passe sur la BBC!
lisez attentivement le wiki De Nassim Taleb , professeur de l'ingénierie du risque a l'Institut Polytechnique de New York University.
Citation :
Nassim Nicholas Taleb
(né en 1960) est un écrivain et philosophe spécialisé dans l'épistémologie des probabilités[1] et un praticien en mathématiques financières[2] libano-américain. Il est actuellement professeur de l'ingénierie du risque a l'Institut Polytechnique de New York University.
Proche du mathématicien Benoît Mandelbrot et du psychologue Daniel Kahneman (Prix Nobel d'économie 2002), Nassim Nicholas Taleb (dit NNT) est surnommé «le dissident de Wall Street»[3] sur les marchés financiers internationaux. Spécialisé dans le risque d’événements rares et imprévus, il a été courtier en bourse pendant 20 ans à New York et à Londres avant de devenir professeur.
Il est notamment le créateur de la théorie du cygne noir. bon d'accord, c'est pas encore sur les tv américaines ... mais quand même !
le banquier de la FED a pris du très gros plomb !
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les pertes de JPM pourraienty etre largement supérieures à 5$millions de $ : puisqu'elles n'ont pas été débouclées et quà présent tout les traders connaissent les positions prises, je vous laisse imaginer à quel point, ça ne va pas être simple de déboucler "proprement"
Comme vous vous en doutez, cette investigation pourrait changer la donne sur la fameuse enquête manipulation du marché de l'argent, et Murphy explique fort bien pourquoi .
This latest investigation into JP Morgan might be a big deal for the GATA camp. This is actually quite complicated, but very intriguing. The CFTC has been investigating JPM’s role in the silver market manipulation scheme for what will be four years soon. FOUR YEARS! Good friends, like Dave from Denver, have nothing but loathsome talk about the CFTC, for good reason. GATA’s rationale (speaking for myself) about this ridiculous investigation is that the CFTC really has uncovered the scam, but because it is backed by the US Government, they are flabbergasted about what to do, so they do nothing.
The reason they have not closed the case is because they are petrified the silver market might blow up down the road. Think about if you were them. They want this to go away, but if the silver market does blow up, and there is some kind of "Force Majeure" declared in silver by JPM, the CFTC would not only look like fools, but, perhaps it might be said they were more than negligent. Thus, they have done nothing. Well, all of a sudden, Lo and Behold a new factor enters the silver scam investigation, which directly affects Morgan’s constant claims to the CFTC that their huge silver short position is hedged. Ya mean like hedged in an economic sense as per their claims re the latest credit derivatives market trade was a hedge? This just might force the CFTC to demand JP Morgan prove their claims their silver short position is really a hedged one. This is what I suspect might occur due to the growing scrutiny over Morgan’s trading activities. The CFTC people, except for Bart "Elliot Ness" Chilton, are sycophants and have toed the company line … but there is a point when FEAR makes that no longer viable. They are not going to go to jail for taking one for the team. My guess is we are getting close to that Tipping Point.
As the JP Morgan hedged losses mount and become "official," the heat on them is going to mount. They will be scrutinized every way imaginable. How can all the class action lawsuits against them, and blatant evidence against them via just what Andrew Maquire has sent to the CFTC via their role in the silver scam, be ignored?
We have already been informed, as of a week ago, that the Morgan losses on their "hedge trade" fiasco could be as high as $15 billion, or more. Already, even the WSJ is alluding that their losses are higher than $5 billion. This is MEGA! As we have discussed on PLANET GATA, this is not just about Morgan, but confidence in the entire financial system. If the $70 trillion derivatives book at Morgan goes NUCLEAR, we could have a financial market TITANIC event which might be right around the corner.
Marie Pas de copier-coller: merci de faire un lien vers ce post. Suivez Hardinvestor sur Twitter et sur Facebook
Jp Morgan aurait recruté William McLucas un ancien dirigeant de la division des enquétes à la SEC et ce n'est pas la 1ere fois : quel vivier que la SEC!
Citation :
JPMorgan’s general counsel and most senior lawyer, Stephen Cutler, also previously served as the head of enforcement at the SEC. Cutler, 50, worked with McLucas at Wilmer from 2005 to 2007, before being hired by JPMorgan.
montrant pourquoi les positions sur dérivés de JPM, ne peuvent pas être hedgées !
4 ans après la publication de cette étude,
Citation :
JP Morgan is out and about with a press conference about a $2 billion dollar loss, after making $18 billion ... because it was a so-called "hedge loss." It made NO sense. Clearly, something else is more seriously wrong, with CEO Jamie Dimon slinking behind the REAL problem. Why is the FBI now involved in an investigation basis on a trade loss with a bank which is so profitable? I think a number of us in the GATA camp know why. JP Morgan says it was all about a hedge. RIGHT? WRONG! My smeller test says, and have said, that JPM is really dealing with problems which are much bigger than what they are letting on. SO BIG, it could be catastrophic.
si JPM est LA Fed elle même, ça va encore plus secouer, lors de la fermeture des positions perdantes sur les taux d'intérêts
selon Harvey Organ, les pertes sur les swaps de taux d'intéret, de JPM pourraient s'élever à $ 100 milliards, ce qui provoquerait la chute de tout le systéme financier international !
Citation :
the data indicates JP Morgan is unwinding a portion of its $50 Trillion in interest rate swaps.
Harvey fears that the losses on JP Morgan’s interest rate swaps could already be $100 billion, and ‘COULD BRING DOWN THE WHOLE FINANCIAL SYSTEM OF THE WORLD!‘
à lire absolument , l'interview de Harvey Organ par Silver doctor, à paraitre demain avec en prime des révélations sur les propriétaires réels du métal détenu pour le compte de GLD et SLV
Hardinvestor
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Marie 
source: Office of the Comptroller of the Currency [OCC]
» fondamentaux de l'argent métal / décryptage de la désinformation
» Les Podcast et interviews de David Brady, Sprott, Rick Rule, Katusa, Bix Weir, etc...SILJ (Hardin mini-fonds Silver Juniors et Royalties)
» a quoi joue la Russie ..
» Alain Juillet (que je découvre) une capacité d'analyse et de synthèse en raréfaction.
» Argent (SILVER) / analyses techniques
» ALERTE: Les signaux d'achats se multiplient sur un nombre important de mines d'Or et d'Argent
» Auplata / ALAUP puis ALAMG : fil de suivi
» 1984 est là ! Nouvelles technologies de flicage des citoyens comme Indect, pire qu'hadopi et ACTA combinés