Would You Rather Have Your Deposits Confiscated, Or Used By JPMorgan's Prop Trading Desk To Buy Stocks?
At this point a question is in order: while in Cyprus, and soon probably elsewhere, the government will openly confiscate deposits to fund insolvent banking systems, in the US excess deposits are used by the prop desks of banks like JPMorgan to inflate risk assets, corner a bond market (IG9), and to generally create a wealth effect... for the 1%.
Recall this chart from JPM's CIO June 13, 2012 financial results appendix, which explains precisely who funded JPM's rogue London trader, made so infamous this past Friday which now seems like an eternity ago:
The answer? You, dear US depositor.
So answer this - would you rather have your savings confiscated... or used by JPMorgan to gun the farce formerly known as the market to ever higher, previously unseen highs, and serve as collateral to fund short positions in a variety of commodity classes?
And, following that, who is truly the biggest loser here?
(for more, read "The "Big Three" Banks Are Gambling With $860 Billion In Deposits")
(19 votes)
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aaaaaaand it's gone.
That's what happens when you don't have a plan C.
Know The Law, bitchezzz!!!
That's applicable under normal circumstances only. When fruad becomes the status quo, posession is 100% of the law.
Wrong HH.
10/10ths is more like it these days.
I vote for neither option.
When you come to a fork in the road, take it.
Ramp o' Rama, Markets going green by days end
ha, try by 10:30... this miserable excuse for a human being has permanently destroyed the concept of price discovery
Price discovery? I thought the fed outlawed such outlandish ideas! Watching this joke of a market makes me glad I am neither long nor short... damn, just realized I'm in cash, stupid currency debasement.
www.tickertapeguide.com
"Would You Rather Have Your Deposits Confiscated?"
let's just call it "tithing"
<== Hang the confiscators & the prop traders
<== Hang the prop traders & the confiscators
Yeah, being long USD, kinda risky.
The London Market has to close first before Kevin henry starts his magic. he can't ramp until volume is lower.
The pie chart should also be melting like an S. Dali clock...
Cheap Bastard, seeing that you are math-challenged (100% = 10/10), perhaps "Poor Bastard" seems more fitting.
"I want the Truth!"
"You can't handle the Truth", you sissy down-arrowers.
After all Cheap Bastard was the one who took a swing at somebody else and showed his ignorance. I simply exposed, and ribbed him for it. This it Fight Club. Grow the fuck up, damn Socialists!
WOW! The markets shrug off Cyprus!!!!
the 1 cent DOW 36,000 book is becoming a reality...
WHY would anyone keep their money in a bank that didn't pay ANY interest...that's the real question
For those of us who don't want to live 'off the grid' completely, there's still a middle road possible. To each his own, but my sense of 'balance' is to use the free checking account (free if you have a payroll deposit) and leave $1-2k in Savings. The rest is in cash in a safe. Some at home, some at a trust company's safety deposit box. Ditto for PM.
I thoroughly subscribe to that law. So much so that I just got back from withdrawing all but $30 from my bank account and buying some gold, silver, ammo, and food with it. I don't need to leave any money in there since all my bills are local and paid in person with cash anyway. I hope the US gubmint enjoys that whole $3 when they decide to confiscate 10% of all US depositor funds. They can even have my blessing with the $3, while I'm sitting on stuff they can't confiscate until they finally come out in the open, by which point it will be very difficult to confiscate. Get it out now, folks. Be the first in line. Be Icelandic.
The market will ramp higher today on some headline. Gold will come down to where it was before the news of Cypress. Nothing to see here, move along everyone. Forget the thought of the government just confiscating your savings, it will never happen under the peace loving Obama regime. Dow 36,000 here we come!
Yep, but a "positive" headline is not even needed.
Days like this are nothing but coordinated bear slaughtering exercises.
If you don't want to be long this market, that is a defensible position.
But for the love of God, everyone should know by now that you cannot try to short this market, unless you have inside info, and even then only for about the first 5 minutes of trading.
God help anyone who wants the truth to be reflected in this market sooner rather than later. You're tilting at windmills.
Who Osama? :)
It is all a joke. I'm doing an EMBA, I started it to see if I could get an understanding different from what I have today (ZH) of what they are doing and why they are doing it. Sadly, my worries are only getting worse. Whenever I asked detailed questions the professors get nervous, change the subject or cut me short. They don't even try to defend what is going on, they want to just give us their material. Sadly for them I have earned the respect of my classmates and they are all starting to challenge them.
For instance, given the balance sheet you show above, if only 10 % of the loans/investments go bad, they go bankrupt. They basically have NO equity to speak of for the size of their balance sheet. The whole thing is ridiculous and a Ponze scheme. Some of the professors don't even fight it, they ourightly agree. The whole world is bankrupt and things are only getting worse NOT better.
Until next time,
Engineer
Because their salaries is based on perpetuating the fraud Spine001
respect either way
+1
All this noise and all we get is 70 point drop in the DOW. Big Fuckin deal now BTFD.
From now on, drops in the Dow are "transient"; they do not fit with the meme and thus are not to be tolerated.
It only took 20 mintues to 'fix' the market. All is well again. Green by the close. Move on.
Forget about the DOW drop, that is being manipulated with our own money, the key is what is behind that level. And it is beign sustained by NON_EXISTANT electronic money and our own money sitting idle in the banks. Look again at the balance sheet of JPM, they are leveraging their equity 12 times (remember EU banks tend to be leveraged 70 times :):)), meaning that they are betting with our money, not theirs, so who cares how much the dow is really worth. This will keep on going until it doesn't and you and me will be the last ones to know when they will stop the music.
The only real information there is that they are betting 58.2% of their money in speculation and only what is left on the real economy, how is that for a bubble?
Either live with your ear glued to the underground blogs and SELL as soon as you think the music is about to stop or stay OUT like most of the retail is doing. Let them fight till death.
Until next time,
Engineer
In 2005, with the help of NASA satellite imagery, it was estimated that there were approximately 400 billion, 246 million trees on the earth. That would be approximately 61 trees per person.
How do I lay claim on my 61?
I want 'em.
I just like being raped. I'm not real picky about the position.
It's not so much the position, as it is about the LUBE used.
i.e. none here!
Always thought Dimon was a dry guy.
Any kind of lube will do
Maybe from another part of you.
Lube from the north.
Lube from the south.
Get a little slobber
From the side of your mouth. - FZ
TMI, TMI!
Too Much Info.
I'm long Astroglide.
pods
The gold and silver miners know how you feel...without lube.
How long before Ben Bernanke writes a check on your ^H^H^H^H my account to cover the Cypriot haircut?
I mean, given a choice between getting robbed for domestic purposes and being robbed for overseas purposes, I ask, why must I choose?
"Death! By Boogah-Boogah!"
"JP Morgan made the Whale bet with their OWN money"
- Maria Bartiromo, CNBC anchor, Public Relations Liason for JP Morgan
Whats yours is theirs
Definitively used by JPM
The Fed. Our "bad bank" after all. And the $2Trillion created via banks parking deposits there for money rather than lending want to amp it up via prop trading. Farcical charades everywhere.
I make all my deposits with a shovel now.
You nonconformist, you. Most Hedgers make their deposits over the side of a boat.
actually, i think JPM has done us all a great service in using our cash to suppress gold and silver, and keep the peasantry believing.......
long enough for anyone who is watching to invest in PMs at absolutely breathtaking prices.
I am glad they have kept price suppressed. It has allowed me to greatly increase my stacks at a lower cost.
They have to keep it suppressed.....even a commoner knows when Silver+Gold go up = social unrest.