Jamie Dimon On The US Debt Endgame

Tyler Durden's picture

Yes, it's ironic to defer to Jamie Dimon, who lately has far more pressing concerns in justifying the non-criminal nature of his enterprise, on anything - especially which does not involve market manipulation - but for once, Jamie actually had it right when it comes to framing the parody of governance in the US and the real debt problem.

From Bloomberg:

Q. How worried are you that one morning the bond market has moved against the United States?

A. It’s virtually assured, the question is when and how. I don't know if it will be two years of five years but it will happen. It is a matter of time, the United States can’t borrow indefinitely. Over hundred years bankruptcies of country after country who thought they could get away with it because they had the reserve currency and the military power of the world. We are going to have fiscal discipline. It’s imposed upon us or we do the right thing and do it to ourselves the right way.... America knows the way, it doesn't have the will.

Of course it doesn't have the will because the Fed takes away any impetus to act when the "monetary" branch of government will merely push the S&P that much higher and everyone will forget just how broken the economy truly is. And speaking of monetizing, there will no "turn" before the Fed stops monetizing all of it (ref: see what happened when the Fed merely mentioned tapering), and in the process boosting JPM's excess deposits over loans also known as prop-trading "dry powder" to record all time highs.

Full clip:


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Mongo's picture

So, he can speak the truth... nasty bugger

Dewey Cheatum Howe's picture

He's done so is JPM lest anyone thinks otherwise this is image rehabilitation on his part to try to avoid the guilotine. They usually speak the truth at the end before everything goes south.

The only good thing is the assholes that refuse to listen to people like us because of confirmation bias will listen to him and agree without once giving any of us our due or acknowledging that we might have been right. Frustrating but that is just how it is.

LetThemEatRand's picture

I agree.    This sounds like the words of someone who knows what is coming and who wants to be able to say "I told you so."   

P.S.  Fuck you Dimon you fucking criminal piece of shit assbag.

TheReplacement's picture

No matter how low he is, he isn't the problem nor the one to blame.  The voters in this nation are to blame.  The people they elected are to blame.  The banks, they just took advantage of the opportunities we gave them.  It's just like kids and parents.  Kids will take whatever slack the parents allow and they will push their boundries.  We the people did not act like grownups and now we are throwing tantrums about the kids who have misbehaved.

It's time to grow up and stop blaming other people for our problems.  We brought this on ourselves.  Even if you are one of the enlightened and awake ones, what did you do to stop all of this and when did you do it?

Begin downvoting now and prove my point.

bnbdnb's picture

Its not my fucking fault. I'm only only old enough to vote in the last presidential election. This shit has been going on years before I was even born.

Pladizow's picture

Just a tad hypocritical - No?

knukles's picture

Ummmm that hurts.  I mean I agree with him and that's got me seriously wondering if my head's still screwed on right or he's diverting my attention elsewhere, or his hand is in my pocket....

maybe hiding under the covers is a good thing

john39's picture

voting? its an illusion.  you choose between two flavors of shit, who after elected, do what the bankers want them to do anyway.  Don't blame the victim.  The american people have been raped.   Hang the criminals, all of them. 

whstlblwr's picture

@TheReplacement, millions of voters watched the fraud from the last election. Voters don't matter when they control the counting machines. We saw there is no difference between them, this is all theater. Get out of your poll booth and run for office for your local election

12ToothAssassin's picture

Is JD feeling alright? Whats the motive behind this truth?

SafelyGraze's picture

the thing that used to worry the continuityofgov was that after default, it would go seize the cash from its people

and the people would have no cash

it would seize their pensions

but they would have no pensions

it would seize their metals

but they would have no metals

it would seize their real estate

but they would have no real estate

so instead it would move against whoever happened to hold the cash and pensions and metals and real estate

but they were all overseas

fortunately, there are bunkers full of hookers and blow and DVDs 

and sump pumps

so it will be ok


Manthong's picture



Dr Ray Stantz: Fire and brimstone coming down from the skies! Rivers and seas boiling!

Dr. Egon Spengler: Forty years of darkness! Earthquakes, volcanoes...

Winston Zeddemore: The dead rising from the grave!

Dr. Peter Venkman: Human sacrifice, dogs and cats living together... mass hysteria!

Mayor: All right, all right! I get the point!



Oh, gee.. I forgot.. he gets the heads-up straight from the Fed..

That is why he is richer than you.


NoDebt's picture

Manthong- and opening his yap like this to speak a momentary bit of truth is also why he gets sued and fined more than us.  He should just shut up.  Nobody wants to hear someone in his position speak truth.  It's ten times more infuriating than the lies.

johny2's picture

He is probably stacking even as he helps manipulate the price down. 

Pinto Currency's picture


Umm, we at JPM and half a dozen other bullion banks rigged the price of gold by leasing physical gold into the market from central banks and smashing it in the paper market (you know both the LBMA and Comex are both levered 100:1 to physical with paper nothing metal contracts).

By doing this, we rigged interest rates for a couple of decades.  I really do recommend you read the Summers and Barsky paper on Gibson's Paradox from the late 1980s where they note that interest rates have historically risen with the price level of gold.

So by rigging gold (and silver) we were able to hide inflationary monetary policy and keep interest rates low leading to a worldwide credit/debt bubble and market bubbles, but what a party!

In the meantime, we've stuffed hundreds of billions of profits into our jeans.

So, it's been great.  And that's why I'm richer than you.

So the question is really when and how the US debt markets collapse and we get chaos.  Yawn.

(see pg. 123 and 124 of the book Gold Wars by Ferdinand Lips: http://www.fame.org/pdf/Gold%20Wars%200-9710380-0-7%20%20-%2001.21.02.pdf - it's also available on Amazon.com)

Scarlett's picture

Jamie Dimon, goldbug prepper conspiracy theorist.


Could he be short(ing) bonds in the derivatives mkt and afraid of a "deal"?

TwoShortPlanks's picture

Forget the fucktard speaking, look at the LOCATION!

So, Capital Controls (UN/IMF style Bail-Ins) AND blow-jobs at the CFR....Dimon's deep throating the NWO!!!!!


The Custodial Framework

Bank for International Settlements - Global Banking Computer Network for the movement and transfer of Global Currencies (the Back Bone)
London Bullion Market Association - Physical distribution and controlling agency of Gold (real wealth)
Central banking Network - Physical distribution and controlling agency of Global Currencies (medium of exchange for services, goods and labour)
Organization of the Petroleum Exporting Countries – Global distributor and controlling agency of Global Oil (consumable real wealth)

United Nations - Global Police
World Bank - Global Lender
International Monetary Fund - Global Debt Collector
Intelligence - Custodial Eyes & Ears (Mi6, Mi5, CIA, MSS, Mossad, FSB {KGB}, SIS, CSIS, ASIS, DCRI, BND etc)
Power & Control Centres - US Council on Foreign Relations, European Council on Foreign Relations, Club of Rome, Bilderberg Group, Royal Institute for International Affairs, Trilateral Commission etc.
Main Stream Media - Global Propaganda
Hollywood - Global Propaganda and epicentre for Alternative/Pagan/Kabbalic/Ancient Mystery Religious interests.

Pinto Currency's picture



Naw.  It would look more like market manipulation planner than conspiracy theorist.

But would JPM step over the line and manipulate markets to make some dough?  That's a tough one.

We'd first have to look to precedent to see if they ever would step over that line.


Anasteus's picture

We are victims of our own ignorance, apathy and irresponsibility.

TheReplacement is right. Once we truly mature there will be no problem to abolish Fed and sue the criminals.

Keyser's picture

That would be rather difficult since they control every branch of the government. The polls mean nothing. They are in control, hold all the cards and would rather die than relinquish control. But the real question is, who is "they". 



ParkAveFlasher's picture

It totally is.  Jaime finds God now?  Each unit of pure fiat currency issued to circulation requires ever-growing debt by the laws of physics.  Jamie Dimon doesn't understand this, as a capo di tutti capi?  Nigga PUHLEEZ

Herd Redirection Committee's picture

The victims have Stockholm Syndrome, so of course we are pissed at them, and want to shake them.  But that still doesn't make it the victims fault.

I agree Dimon is just pulling a "Thats why I'm richer than you", after the collapse he doesn't want ZHers to get the credit for calling it.

Ulf Murphy's picture

Not many if us have been here since 1913.

Welcome to the born screwed club.  Population...you and me.

El Vaquero's picture

Yeah, but you and I haven't really done anything major to change things, so in that sense, we do share some of the blame.  So do our parents and our grandparents.  The apathy has been strong for several generations.  We let the bankers and the government gain more and more power while life was good with the attitude of "It could never happen here."  Well, now it's happening here right before our eyes. 

El Vaquero's picture

You can waste your time blaming the Gen Xers, Baby Boomers, the Greatest Generation, etc... but it will do you no good.  We failed to cut the cancer out of this country in the past, but now some of us may just be willing to stand up and help do exactly that.  I have no idea how, or when, but many of us have realized just how fucked up the world we grew up in is, and we don't like it any more than you do.  So, sorry for not stopping you from getting fucked, but playing the blame game at this point is counterproductive.  We're getting fucked too.

bnbdnb's picture

There is plenty you can do. You are just too apathetic STILL to do anything.

CH1's picture

There is plenty you can do.

No, it's time to walk away.

Trying to reform this beast is like trying to reform Rome in 450 AD. Good people tried, but to no effect.

To every thing there is a season, and the season for reform is past.

Herd Redirection Committee's picture

Decentralization is the answer you are looking for.

El Vaquero's picture

What do you really know about me?


I do not have a bank account and will not get one.

I am 100% debt free and will not take on any debt.

I am learning to produce my own food so that I can minimize my participation in a system that I consider completly broken and unethical.

I have sued a bank, and I now have two separate court systems pissed off at said bank.

I don't support red team/blue team.


I have suffered directly and personally because of bankers, but you wouldn't know that.  I have actually beaten them at their own game, but you wouldn't know that either.  Have you done anything, other than be angry?  If not, I have already done more than you.  Simply lashing out in anger will get you nowhere.  Don't mistake a refusal to act rashly as apathy. 

bnbdnb's picture

Assuming its all true and now I know more about you, thank God for people like you.

-btw, I'm on the same path as you, except I want to stick it to them in what little ways I can.

El Vaquero's picture

Which is why I say that playing the generational blame game is an exercise in futility.  Those being born today are going to wonder why your generation did nothing, assuming that your generation does nothing.  You never know if somebody is awake, or can be woken up to see the corruption that is in our faces.  Most are sheep and will not accept that their delusional reality is just that until it comes crashing down on their heads, but there are enough people out there who still have a spark of independence left in them to make a difference.  They may be old or young, but you have to remember that the old grew up during a time when things were good and the system called to them like a siren.  The 90s were great.  Oil was cheap (you'd get pissed off because gas was $1.10,) the economy was booming (er, bubbling,) there was still some tolken restraint on the police via the 4th amendment, the corruption wasn't nearly as in your face, just about anybody could get a job, etc...  If you were an average person, you saw no signs that something underneath it all was terribly wrong, so you didn't go looking for it.  Hell, even the first half of the 2000s were pretty good if you weren't a soldier, but by that point, there were signs starting to show that not all was well.  But, times were good enough that people ignored them anyway.  Now, all is laid bare for those who wish to know what is going on.  The question is, what are we going to do about it?  I do know that convincing as many people as possible that the corruption is real and it extracts wealth from them is essential, but I do not know how to do that. 

bnbdnb's picture

Agreed somewhat. However, what percentage of your wealth was built on my back, and the back of future generations? If you think its any more than zero...

And how many of you older generations are willing to take a 10%-20% cut off your wealth to relieve the burden of the future.


Unfortunately, the older generations never want investment taxes raised, never want estate taxes raised, never want anything raised to help pay down the debt that is built for the future generations to handle.


Its bullshit.

El Vaquero's picture

I am far from wealthy.  I paid $2k for my vehicle, I do all of the maintenence myself, and I really don't drive that much for example. And those haircuts are going to come to all of us, whether we like it or not.  The thing about all of that debt is that it cannot be paid back.  It was accrued under the implicit assumption of eternal exponential growth.  Growth in productivity, growth in population and growth in resource extraction.  We've already extracted most of the cheap oil, and that is the driver behind most of the other two.  The exponential growth is now being replaced by exponential fraud because people want to keep the status quo.  It has been growing for quite a while, just we were too blind to see it.  Because of that, I wouldn't worry too much about paying back all of the debt in the system, because since it cannot be paid back, it won't be.  The growth isn't there to support things, and paying it back would crash the fraud.  Once that realization hits the average person, there will be plenty of pain to go around, and that is what I would worry about. 


In short, we are systemically broken.  We are unable to properly adapt to change, yet change is upon us.  I'm Gen X, so barring an unnatural death or disease on your part, you'll probably be around longer than I, but I still have a vested interest in seeing things fixed.  We have to accept that our way of life is going to change, and I might have to accept that my $2000 vehicle will will become quite unaffordable to drive in the future.  When you see people on this site talking about local economies and getting their tribes in order, they are looking at how things are going to change, and I agree.  Expensive energy will place limits on mobility (among other things,) thus local economies, and a failure to start planning for the changes that will be crammed down our throats will cause a systemic shock, and that systemic shock will catch people by surprise, hence the getting your tribe in order. I'll bet some of your tribe consists of old farts.


Don't be angry at the older generations, but don't be them either.  There was no malice involved with most of them, and there is the added benefit that you can learn from their mistakes.  There was, however, malice involved with the bankers and politicians. Don't let divide and conquer work.

ManWithaPlan's picture

I try and tell everyone I know about it. They usually call me crazy, so sad....although I am a 28 year old unemployed male...Look out!

LawsofPhysics's picture

There you go.  Unless there are real fucking consequences, nothing will change.  The longer justice goes undone for the previous crimes, the worse it will become.  The idiot above must be a banker.  It is typical of these "enlightened" kleptocrats to say "it's all our faults" and don't try to serve justice for these past crimes, let's focus on the future.  Of course they would say that, they stole from you in the past and want to make sure that there is no way you can get that wealth back.

One simple rule now applies to everyone; Fraud is now the status quo, so possession is the law.  Get a dependable tribe in order, if you haven't already.

centerline's picture

Pull some of my old posts if needed.  But I always said that in the end the blame will be put on the population at large.

Financial crisis = soveriegn crisis = political crisis = public crisis.

You can see who started it (ultimate blame on the bankers).  The shift right now is onto the politicians.  They are beginning to chomp at each other as the heat gets turned up.  What comes next is the set up to blame J6P which will be really easy.  So easy a caveman could do it.

Bay of Pigs's picture

Legs Dimon hasn't told the truth his entire life. Now he suddenly "gets it"?

Ignatius's picture

"We are going to have fiscal discipline."  --  Jamie

"We"?  What, Jamie cancels order for 2nd yacht?

Chupacabra-322's picture

@ bnb,

We're all born into Debt Bondage & Enslavemnt. Complete Total Full Spectrum Dominence over human kind is The Global Criminal Oligarch Cabal Bankster Intelligence's, The Elites endgame is.

bnbdnb's picture

I've learned I just need to play the game myself. I'm going to build massive amounts of credit availability, buy a bunch of shit for myself, family and friends, then disappear.

Ulf Murphy's picture

Do you realize to build enough credit to do what you propose takes years of paying back accumulated debts? There is a reason Capital One's introductory card has a $1,000 balance at 28%.

Better to stay out of the system your entire life than try that, imo.

bnbdnb's picture

Currently I have $80k in available credit, pay off balances in full every month, rollover older small debts to new cards after about six months, credit score near 800. I know what I am doing.

Ulf Murphy's picture

You should publish your system and sell it on an infomercial.

That would be joining the system.