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Furious Russia Will Retaliate Over "Illegal And Absurd" Payment Block By "Hostile" JPMorgan

Tyler Durden's picture




 

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that "Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer "Under Pretext" Of Sanctions." This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with "Russian threat to retaliate over JPMorgan block." And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as "illegal and absurd."  And as Ukraine found out last month, you don't want Russia angry.

More:

The biggest U.S. bank thwarted a remittance from the Russian embassy in Astana, Kazakhstan, to Sogaz Insurance Group “under the pretext of anti-Russian sanctions imposed by the United States,” the ministry said yesterday in a statement on its website. Sogaz lists OAO Bank Rossiya, a St. Petersburg-based lender facing U.S. sanctions over the Ukrainian crisis, as a strategic partner on its website.

 

Interfering with the transaction was an “absolutely unacceptable, illegal and absurd decision,” Alexander Lukashevich, a ministry spokesman, said in the statement.

 

U.S. President Barack Obama announced the action against Bank Rossiya last month as part of a broadening of sanctions that targeted government officials and allies of Russian President Vladimir Putin, whose associates own Rossiya. The embassy’s transaction was for less than $5,000 dollars, a person with knowledge of the dispute said, asking not to be identified because such transfers aren’t public.

Did JPMorgan just move the second Cold War into semi-hot status? Very possibly:

Any hostile actions against the Russian diplomatic mission are not only a grossest violation of international law, but are also fraught with countermeasures that unavoidably will affect activities of the embassy and consulates of the U.S. in Russia,” Lukashevich said.

As we reported yesterday, for now the JPM party line is to plead ignorance, as it does not want to incur the wrath of the US government, because apparently lying to Congress is less of an issue than transacting with Russian oligarchs.

JPMorgan could still process the embassy payment if U.S. regulators approve, the person familiar with that dispute said.

 

“As with all U.S. financial institutions that operate globally, we are subject to specific regulatory requirements,” New York-based JPMorgan said in a statement. “We will continue to seek guidance from the U.S. government on implementing their recent sanctions.”

 

Russia’s Finance Ministry has done business with JPMorgan. It picked the lender to improve the country’s standing among U.S. credit-rating firms. Putin said in 2011 the rankings given to Russia were an “outrage” that increased borrowing costs for domestic companies and the government. JPMorgan also was among banks selected to advise Russia on a 1 trillion ruble ($28.5 billion) privatization program.

There's that. And then there's this, which we also said yesterday:

Wait, did JPM just take a unilateral action, not mandated by the state department (because nowhere in the Russian sanction list does it say putting a freeze on Russian bank transfers), and refuse to process a simple money transfer? Why? And if indeed JPM is doing this, how long until all other US banks, most of which are just as allegedly criminal in dealing with offshore sources of illegal money, follow suit and leave Russia entirely in the world when it comes to USD-backed transactions.

 

Because what JPM may have just done is launch a preemptive strike which would have the equivalent culmination of a SWIFT blockade of Russia, the same way Iran was neutralized from the Petrodollar and was promptly forced to begin transacting in Rubles, Yuan and, of course, gold in exchange for goods and services either imported or exported.

 

One wonders: is JPM truly that intent in preserving its "pristine" reputation of not transacting with "evil Russians", that it will gladly light the fuse that takes away Russia's choice whether or not to depart the petrodollar voluntarily, and makes it a compulsory outcome, which incidentally will merely accelerate the formalization of the Eurasian axis of China, Russia and India?

Once again: watch this space carefully - should more western commercial banks (here's looking at you Citigroup, Bank of America, and Citi, and of course "money launderer to criminals everywhere" extraordinaire HSBC) just say no to more Russian hot money, things get really interesting.... if for nothing else, then certainly the ultra-luxury end of the Manhattan real estate market.

Finally, we certainly can not be the only ones looking forward to the epic battle prospect that is Vlad "Shootin" Putin vs JP "Fail Whale" Morgan. Especially if it involves more such sudden moves in gold as what just happened.

 

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Wed, 04/02/2014 - 13:30 | 4617834 BlindMonkey
BlindMonkey's picture

I don't get it.  Is Hillary coming to town looking for a new broom to ride or something?

Wed, 04/02/2014 - 08:16 | 4616622 _ConanTheLibert...
_ConanTheLibertarian_'s picture

You mean the price in US$ ?

Putin can demand gold for gas in turn.

Wed, 04/02/2014 - 08:26 | 4616677 Cursive
Cursive's picture

@_ConanTheLibertarian

Tanks will roll long before that request is honored.

Wed, 04/02/2014 - 08:29 | 4616688 hungarianboy
hungarianboy's picture

Until Putin decides that he won't accept EUro's and Dollars anymore for Oil and Gas. :-) Then it will be game over for the west.

The only problem is that China won't be happy with that. So I'm not sure what Russia's next big step would be.

Wed, 04/02/2014 - 09:14 | 4616872 Pure Evil
Pure Evil's picture

What I don't understand is why the Russians even reacted to this petty bitch slap shit.

Reacting to it only serves to enhance NATO's rep, even if short lived.

Best to save your retribution for when really needed.

And, I doubt they want to collapse the price of oil which would only create deflation thereby destroying what's left of the FED's modius operandi.

And, why else would Obama be visiting a few oil sheiks in SA other than to hob a few knobs and promise them not to allow oil to drop in price.

Saudi Arabia's tranquillity depends on it. Plus, without high oil prices the Saudis would no longer be able to afford to fund the Syrian civil war.

Wed, 04/02/2014 - 18:56 | 4619066 Sirius Wonderblast
Sirius Wonderblast's picture

Which also means the US et al daren't/can't stiff Russia.

Wed, 04/02/2014 - 19:46 | 4619217 TheObsoleteMan
TheObsoleteMan's picture

The BRICS should come up with their own currency for trading between themselves only. Weight it purportionally to each countries GDP, with the Yuan making up the lion's share. That should about do it. Everyone but the west is happy{epecially China and Russia}.

Wed, 04/02/2014 - 09:53 | 4617048 nowhereman
nowhereman's picture

That's the problem when you think like a banker.  Drop the price of oil, what a fucking rediculous statement.  Here's the way it works.  I've got the oil, you need the oil, I'll sell it to you for this much, if you don't like the price, go somewhere else. Period.

Wed, 04/02/2014 - 10:33 | 4617223 Urban Roman
Urban Roman's picture

If you like your Brent and West Texas, you can keep your Brent and West Texas.

Wed, 04/02/2014 - 10:37 | 4617235 xiphius
xiphius's picture

And crush the US tight oil industry at the same time, while Russia can just shut off as much oil to Europe as they need to raise the price of oil and/or send them into a depression. 

Wed, 04/02/2014 - 08:10 | 4616601 Debugas
Debugas's picture

what is strange is why russia and kazakhstan conduct their payments via american bank ?

Wed, 04/02/2014 - 08:23 | 4616659 El Hosel
El Hosel's picture

All the Oligarchy's Puppets

Wed, 04/02/2014 - 08:38 | 4616728 Tabarnaque
Tabarnaque's picture

I betyou that this is going to change very, very soon. The West is only accelerating the development and implementation of a BRICS parallel financial/monetary system.

I can't wait to see who will be elected in India. It looks like the one ahead of the race isn't too warm with the USSA.

Wed, 04/02/2014 - 09:04 | 4616820 lakecity55
lakecity55's picture

(Bored room meeting at B of IS)

(evil laugh)

"Well, men, our plan is succeeding! We are in the final stages of moving everything to our TS location in the Far East in country X."
"Great Hans, I do not like to be too far from my golden babies, even if they are now measured in Kg."
"Pierre, are you sure the Bath House will follow orders?"
"Of course."

(evil cackles echo around the bored room)

Wed, 04/02/2014 - 08:10 | 4616602 agent default
agent default's picture

Russia buys pile of COMEX futures.  Demands physical settlement. 

Wed, 04/02/2014 - 08:12 | 4616609 Debugas
Debugas's picture

it is specifically written in COMEX futures that they can be settled not in physical gold but in USDs

Wed, 04/02/2014 - 08:16 | 4616624 GetZeeGold
GetZeeGold's picture

 

 

You lie!!!

 

OK, I'm sorry......I just can't do that with a straight face.

Wed, 04/02/2014 - 08:59 | 4616803 agent default
agent default's picture

Yes but in this case Jamie will get Poland flu.  And so will everybody else connected to the COMEX scam.  So they better come up with the goods.

Thu, 04/03/2014 - 01:20 | 4620161 SimplePrinciple
SimplePrinciple's picture

My recollection is that it is shares of GLD the COMEX can substitute at this point, not that they don't offer enough of a price differential to buy off thier obligations using dollars.  With enough GLD shares presented to a member bank, it must turn over the gold bars.  But then there is the sanctions thingy that might screw it up.  IF it does, bucketloads of additional western banker credibility would be lost once more again.

Wed, 04/02/2014 - 08:11 | 4616607 Jaspergers
Jaspergers's picture

More evidence of JPM being the designated bagholder/fallguy? Who was it that commented on this recently?

Wed, 04/02/2014 - 10:36 | 4617230 Urban Roman
Urban Roman's picture

I think it was Blythe.

Wed, 04/02/2014 - 08:20 | 4616614 ebworthen
ebworthen's picture

Roll...the...tanks.

Yes, I want war, a war on bankers.

Cut the bullshit people, end the Ponzi.  All the way to Brussels Vlad.

And where is the valiant American soldier in defending the Constitution?

Oh right, either in a wheelchair, following orders to not defend the Constitution, or discharged and on a local police force shooting unarmed homeless people or other "terrorists" dead.

Wed, 04/02/2014 - 08:24 | 4616667 lakecity55
lakecity55's picture

Not true of all us soldiers, my friend.

Wed, 04/02/2014 - 08:41 | 4616678 ebworthen
ebworthen's picture

Surely true, but they sure are somnolent on this most important of all issues.

What are they willing to die for, J.P. Morgan Chase and Wall Street - or the Constitution, their families, and their liberties and freedoms?

Wed, 04/02/2014 - 08:43 | 4616749 Tabarnaque
Tabarnaque's picture

The sheeple has been dumb down so much. The vast majority has no idea of what's going on. They are sitting like zombies listening to Fox News or CNN.

Wed, 04/02/2014 - 13:38 | 4617871 BlindMonkey
BlindMonkey's picture

You  are giving the sheeple far too much credit.  Try Walking Dead, and a panoply of "reality shows".  Fox news and CNN would be a significant upgrade in the awareness of most Americans.

Wed, 04/02/2014 - 08:59 | 4616805 lakecity55
lakecity55's picture

umm, more like sharpening knives and such. Very patient folks.

Funny situation.

Years ago, we had a guy who was in the USSR Navy become a citizen. He joined my unit as a engineer. We became good friends. One day, while Top was nearby, I told my friend, "haha, now that you are on our side, you can tell us all the TS stuff about Russian Navy."

Before he could say anything, Top comes over: "CPL LC, do not ask him that. It is out of order. He swore an Oath to his country not to reveal anything. You must honor his oath."

That is why I have an issue with Snowman. But, he may not have taken the enlisted Oath I did. He at least betrayed his Word.  Mark my words, though, there is a lot to Snowman that does not level out, despite the good that came out on all the illegal spy activity.

While I am on a roll, where is the Russian, Israeli, and Chicom Snowmen? If anyone thinks nsa is the only agency with vast spy capabilities, they are naive.

Like your posts, Eb. Carry on!

Wed, 04/02/2014 - 14:25 | 4618094 Tall Tom
Tall Tom's picture

He swore an oath to the USSR. That is an entity which is dead.

 

(If he was a Christian then he knows better than to swear any oaths at all.)

 

If his allegiance is to the United States then he needs be loyal to the United States. To become a citizen one swears an oath which forsakes the allegiance to any foreign country (except Israel per 1967 US Supreme Court Ruling)...EXISTING...OR NOT.

 

Your Top is a fucking traitor.

Wed, 04/02/2014 - 18:01 | 4618868 lakecity55
lakecity55's picture

well, blow me, i don't care.

Wed, 04/02/2014 - 08:26 | 4616674 LawsofPhysics
LawsofPhysics's picture

Correct, producers of good and services of real value will eventually simply start dealing directly with one another.

 

Useless paper pushers are of no real value anyway and that which cannot be sustained, won't be.

Wed, 04/02/2014 - 08:33 | 4616706 aleph0
aleph0's picture

 

.."All the way to Brussels "..

Russia liberated Europe from Napoleon 
Russia liberated Europe from Hitler
now  Russia will liberate Europe from Brussels , hopefully.

 

 

Wed, 04/02/2014 - 08:36 | 4616719 sessinpo
sessinpo's picture

ebworthen     Roll...the...tanks.

Yes, I want war, a war on bankers.

----

Those are tools that tend to mass hurt and kill the general population, not the elite.

You want death to bankers, then a simple sniper will do.

Wed, 04/02/2014 - 18:53 | 4619047 August
August's picture

>>>You want death to bankers, then a simple sniper will do.

Well, for a real "war on bankers", you'd need several sniper teams in each of several key cities. That's a fairly tall order for "leaderless resistance", and certainly difficult to organize in today's environment where federal informers make up a non-zero percentage of the membership in any radical organization of "left" or "right". 

I'm a bit more of the Amish character myself:  SHUN the denizens of the FIRE economy.

If a banker is your neighbor... move.  If desired, you can always burn their house down later.

Wed, 04/02/2014 - 09:11 | 4616860 yellowsub
yellowsub's picture

What Constitution are you talking about?  You mean defending democracy.

Thu, 04/03/2014 - 00:51 | 4620106 Real Estate Geek
Real Estate Geek's picture

What democracy are you talking about?  You mean defending the republic.

 

Wed, 04/02/2014 - 08:13 | 4616615 Impoverished Ps...
Impoverished Psychologist's picture

They froze Wikileaks out of the system, this is Russia - not Wikileaks.

 

What do they think is going to happen?

What happens when Vlad demands payment in gold for all that gas?

Libyan gold dinar moment?

 

Wed, 04/02/2014 - 08:14 | 4616620 Incubus
Incubus's picture

time to hang the banksters

Wed, 04/02/2014 - 08:23 | 4616658 lakecity55
lakecity55's picture

It's good for the cretin I am not Putin. I would already have a hit team in the air. If I had to recon for a month, I would get him.

Who is running US Foreign Policy? A monkey with a Hand Grenade?

Wed, 04/02/2014 - 08:50 | 4616776 GetZeeGold
GetZeeGold's picture

 

 

Worse.....it's some hippie guy from the 60's,

Wed, 04/02/2014 - 14:28 | 4618115 Tall Tom
Tall Tom's picture

Who is running US Foreign Policy???

 

People like your Top.

Wed, 04/02/2014 - 08:38 | 4616727 sessinpo
sessinpo's picture

Incubus     time to hang the banksters

----

Bankers are like drug cartel leaders. You kill or imprison one, someone else will just replace them and the game continues.

Wed, 04/02/2014 - 08:14 | 4616623 Rising Sun
Rising Sun's picture

Suck it Putin.  You're as broke as that little north Korean rodent.

 

Now Barry, this fucker has nothing to lose, so don't fuck things up this time.

Wed, 04/02/2014 - 08:16 | 4616634 El Hosel
El Hosel's picture

Bad boy, bad boy, wut you going to do when J.D. comes to say all your money are mine?

Wed, 04/02/2014 - 08:29 | 4616652 GetZeeGold
GetZeeGold's picture

 

 

...so don't fuck things up this time.

 

Which would be a grand total of.....one.....if he can actually pull it off.

Wed, 04/02/2014 - 08:23 | 4616663 CaptainSpaulding
CaptainSpaulding's picture

What money?

Wed, 04/02/2014 - 08:16 | 4616629 lakecity55
lakecity55's picture

Dude, you DO NOT fuck with Embassies. Anywhere. International Law 101.

Take it from someone with at least some knowledge: this could be construed as an Act of War.

Maybe I am rememberin it wrong, but you NEVER fuck with embassies like that. You want to sanction oligarchs and industry, that is different.

Whoever ordered this has betrayed his country and international diplomatic law.

Wed, 04/02/2014 - 08:18 | 4616641 Infinite QE
Infinite QE's picture

Who ordered this is a race of demonic, alien lifeforms bent on the destruction of all known life on this planet. Otherwise known as the khazars.

Wed, 04/02/2014 - 12:43 | 4617675 machineh
machineh's picture

Otherwise known as 'banksters,' to be a little more inclusive.

Wed, 04/02/2014 - 08:45 | 4616723 One And Only
One And Only's picture

Benghazi didn't end up with war. If I recall a U.S ambassador was murdered along with a few Navy SEALS. In fact....aren't we actively sending Libya money?

This is Barry Soetoro you're talking about.

Wed, 04/02/2014 - 11:03 | 4617323 BandGap
BandGap's picture

Embassies are considered sovereign territories by the occupying nation. These are granted by the host nation. Acts against embassies are acts against the holding nation itself.

Wed, 04/02/2014 - 14:45 | 4618142 Tall Tom
Tall Tom's picture

An Embassy is the Sovereign Territory of a Nation within a Foreign Nation. When you enter the grounds of a Foreign Embassy you are under the Laws of the Nation which holds that Embassy.

 

Fucking with the Embassy of a Foreign Nation is fucking with the sovereign territory of that Nation and is an act of War.

 

When the Iranians seized the US Embassy in Tehran, Jimmy Carter needed to have ask Congress to declare a state of War with Iran. Those were not "hostages" but POWs.

 

Then he needed to have turned Tehran into an ocean of Nuclear Glass.

 

War is justified when it is used to protect soverign territory. I'd shoot a son of a bitch who invades my sovereign territory, my home. Likewise with nations.

Wed, 04/02/2014 - 20:01 | 4619276 TheObsoleteMan
TheObsoleteMan's picture

Most people aren't aware of this: On the same day the Iranian "students" seized the US Embassy, another group of "students" tried to seize the Soviet Embassy. Soviet guards were able to hold them off long enough for the Iranian leadership to get the word from Brezhnev that unless they retreated at once, he would nuke Tehran. It was all over in less than six hours. The Iranians understood Carter, but they understood Leonid even better.

Fri, 04/04/2014 - 03:31 | 4624048 Tall Tom
Tall Tom's picture

No. I was not aware. Wow.

Wed, 04/02/2014 - 08:17 | 4616635 inky
inky's picture
Dear JPMorgan & Obama Karma is a bitch. Yours Sincerely The rest of the world
Wed, 04/02/2014 - 08:17 | 4616640 buzzsaw99
buzzsaw99's picture

Fascism 101. I thought Vlad knew about this.

Wed, 04/02/2014 - 08:25 | 4616671 Rainman
Rainman's picture

LOL

Wed, 04/02/2014 - 08:18 | 4616642 Duc888
Duc888's picture

 

 

At least Putin can now target his missiles at the real criminals, all the JP Morgue branches.

Wed, 04/02/2014 - 08:21 | 4616649 LawsofPhysics
LawsofPhysics's picture

So not only can the TBTF banks commit treason, they can also start wars now too?  See the real problem yet?

Wed, 04/02/2014 - 08:22 | 4616655 GrinandBearit
GrinandBearit's picture

Market is green on this news - LMAO!

Nuclear war = S&P 3000

Nah... market's not rigged... no way.

Wed, 04/02/2014 - 08:36 | 4616717 lakecity55
lakecity55's picture

haha. + 100

small tactical nuke: DJI=15,000

large nuclear warhead: DJI=17,000

Thermonuclear warhed=20,000

Thermonuclear warhead + Ebola= To The Moon.

Wed, 04/02/2014 - 08:24 | 4616664 robertocarlos
robertocarlos's picture

According to Kerry the Russians are using oil as a WMD.

Wed, 04/02/2014 - 08:43 | 4616743 headhunt
headhunt's picture

According to the entire leftist US government carbon fuels are WMD's.

They are 'Common Core' stupid.

Wed, 04/02/2014 - 09:04 | 4616827 Scoobywan
Scoobywan's picture

On the issue of Common Core....

How do you prevent what you are measuring from looking more and more unsatisfactory?

Change how you measure it.

Wed, 04/02/2014 - 08:26 | 4616670 Sinnedi
Sinnedi's picture

I'm not fighting in any war for any govts or for corporations any instutions who don't give a fuck about me or my safety. 

I will not pick up a gun and shoot a citizen Of other land where there govt and instutions hate Them as well. 

 

The only thing that needs to go away is the esoteric mystery schools that hide behind the shadows and manipulate peoples movements. They teach secret enlightenment. I will fight against them so everyone on this planet can evolve at the same time. 

 

If you want to see look up this

http://archive.4plebs.org/pol/thread/23870217/#23876021

Wed, 04/02/2014 - 08:33 | 4616681 medium giraffe
medium giraffe's picture

+1. Not killing and not dying for their bullshit.  

Wed, 04/02/2014 - 08:36 | 4616716 Oh regional Indian
Oh regional Indian's picture

Well said.

Become a More-on....say that slowly and then fast...yep, become a more-on, forget your less-ons and everything changes...

ori

https://www.youtube.com/watch?v=3XijsnujcFg

Wed, 04/02/2014 - 08:43 | 4616747 shovelhead
shovelhead's picture

The only 'enlightenment' you gotta worry about from these guys are the enlightenment of your wallet and bank accounts.

Wed, 04/02/2014 - 08:26 | 4616676 Iam Yue2
Iam Yue2's picture

12 Mar 2009 - JP Morgan opened a representative office in Kazakhstan last week.

1. April; The Russian foreign ministry said JPMorgan had blocked a transfer by Russia's embassy in Astana, the capital of Kazakhstan, to Sogaz.

2.April; Kazakh government resigns.

No link of course.

Wed, 04/02/2014 - 08:27 | 4616679 medium giraffe
medium giraffe's picture

Spetsnaz en route to Dimon towers.  Oops.

Wed, 04/02/2014 - 08:42 | 4616687 One And Only
One And Only's picture

If only there was a way to transfer funds without using a bank as an intermediary. A means of instantly transferring money anywhere in the world that is not subject to blocks or sanctions....

I wish someone could think of something like that.

https://bitcoin.org/

Wed, 04/02/2014 - 08:42 | 4616742 Husk-Erzulie
Husk-Erzulie's picture

My take is that Vlad may be an egoist, but he is a pragmatist first.  Maybe he'll be taking a second look at that BC ban.  Wonder what would happen if he got behind that no intermediary, distributed system...

Wed, 04/02/2014 - 08:44 | 4616754 One And Only
One And Only's picture

To the moon?

Wed, 04/02/2014 - 09:04 | 4616822 Latitude25
Latitude25's picture

I don't think Russia will even consider BTC since it's an NSA darling

Wed, 04/02/2014 - 09:38 | 4616982 Urban Redneck
Urban Redneck's picture

Money isn't physically transferred by banks -- SWIFT is a MESSAGING system, they merely debit and credit their interbank ledgers... hence private monopoly of the money supply (which exists only in their books and our minds). 

Wed, 04/02/2014 - 12:16 | 4617577 slightlyskeptical
slightlyskeptical's picture

Total value of all bitcoins is less than $8.4 billion. There is simply not sufficient scale to do governement and institutional business.

Wed, 04/02/2014 - 12:26 | 4617627 robertocarlos
robertocarlos's picture

Then it's like gold. There is not enough supply to satisfy the market so just raise the price 10,000 fold and there you go.

Wed, 04/02/2014 - 08:31 | 4616693 Apocalicious
Apocalicious's picture

"And you don't even realize that there is no world anymore! It's only corporations!"

Wed, 04/02/2014 - 08:33 | 4616704 Barry McBear
Barry McBear's picture

He'll fight for freedom wherever there's trouble,

Jamie Dimon's there!

 

It's Jamie Dimon against Russia the enemy

Fighting to save the day.

He never gives up.

He's always there,

Fighting for freedom over land and air.

 

A real American hero, Jamie Dimon's there!

Wed, 04/02/2014 - 09:13 | 4616869 unplugged
unplugged's picture

Can he do God's work too ?

Wed, 04/02/2014 - 14:47 | 4618184 Tall Tom
Tall Tom's picture

You'll have to ask Lloyd.

Wed, 04/02/2014 - 08:38 | 4616725 ptoemmes
ptoemmes's picture

Putin v Dimon.

 

Now there's a Pay Per View I'd watch.

Wed, 04/02/2014 - 08:39 | 4616730 Catullus
Catullus's picture

Just demand delivery of COMEX gold and silver. 

Wed, 04/02/2014 - 08:44 | 4616738 GetZeeGold
GetZeeGold's picture

 

 

You'll get a check and you'll be grateful you got that.

Wed, 04/02/2014 - 10:25 | 4617187 Catullus
Catullus's picture

Yes. And destroy that market completely.

Anyone with a brain can see a non-delivery declared as a force majeure means that the market is busted.

This isn't to make money move. It's a punitive move to destroy confidence.

Wed, 04/02/2014 - 14:54 | 4618210 Tall Tom
Tall Tom's picture

If you want to destroy confidence then write on the back of your One Hundred Dollar Bills the following...

 

"I Have A Bomb. Give me all of Your Money".

 

Of course you are not going to be stupid enough to walk into a bank and hand that to a teller.

 

But you can deposit those into the Slot Machines of any Indian Casino. Just cash your ticket out and get more One Hundreds to repeat the process.

 

When random people begin to get arrested for Bank Robbery then confidence will be destroyed.

 

Your level of participation is up to you.

Wed, 04/02/2014 - 14:02 | 4617981 BlindMonkey
BlindMonkey's picture

+1 

 

In the brave new world where comingling of funds is just expected when the fiducary holder gets into a bind, the man who gets "only a check" is king.

Wed, 04/02/2014 - 09:10 | 4616853 zipit
zipit's picture

Force majeure clause.

Wed, 04/02/2014 - 09:12 | 4616862 unplugged
unplugged's picture

they don't have any - try Shanghai

Wed, 04/02/2014 - 08:39 | 4616733 SharkBit
SharkBit's picture

I think it would be really interesting if Russia and the BRICS just started transacting in BitCoin.  That would solve the USD problem.  Wishful thinking I know but would that not be extraordinary.

Wed, 04/02/2014 - 09:11 | 4616857 Scoobywan
Scoobywan's picture

Why BTC? Why not in WoW gold...

It's the same shit..

WoW gold requires time and investment to accumulate..

WoW gold is in finite supply and cannot "conjured"..

WoW gold has a stable exchange rate with other currencies..

 

Wait....Why is WoW gold different than BTC again?

 

Wed, 04/02/2014 - 11:31 | 4617428 dogbreath
dogbreath's picture

That is the most ignorant comment.   BTC is the basement dwellers club, works fine for retail money laundring but you want to mix BTC up in geopolitics with the posibility of international sanctions. Holy fuck.   Hey Russia, Hey BRICs,  don't wait to get GOXED just send your money to me.

Wed, 04/02/2014 - 08:41 | 4616736 lakecity55
lakecity55's picture

we haven't used this one in quite a while:

The Monkey With a Hand Grenade is back!!!

 

 

blow me again, bath house.

but jamie i am alreay tired from vlad

tough

Wed, 04/02/2014 - 08:48 | 4616772 shovelhead
Wed, 04/02/2014 - 09:13 | 4616865 lakecity55
lakecity55's picture

Those guys must have been drunk, allowing Bath House to hold a weapon.

And Bath House must be drunk too, he has taken off his clothes in that video!

Wed, 04/02/2014 - 08:44 | 4616753 CHX
CHX's picture

That's why "somebody" is richer than you [FUJD].

Wed, 04/02/2014 - 08:45 | 4616756 francis.sawyer001
francis.sawyer001's picture

yes, Benghazi Hitlery KILLED 'murdered' an USA ambassador,

Under OBAMA killing USA citizen abroad is now considered 'abi-normal'.

But MH-370 brings it to an entire new level, now anybody on earth can be murdered anywhere, anytime, and nobody in the MSM will have the balls' to point a fucking finger.

When the USA (CIA/MOSSAD) can MURDER-INC Chinese citizens and get away with it, then it will be easy to murder Russians, or take their money (JPM).

Welcome to the NWO, ...

Wed, 04/02/2014 - 08:46 | 4616758 More_sellers_th...
More_sellers_than_buyers's picture

I give up.  The problem is NO ONE is telling the truthabout anything.  And to top that off, the people that know, only truly know part of the story and could not truly understand shit.  A giant clusterfuck.  I don't believe the conspiracy about the secret banking cartels etc. Hell no one even knows how many dollars or Euros or Yen are even in circulation.  Its too big to control.  The monkey is out of the cage.

Wed, 04/02/2014 - 08:47 | 4616761 teahouse
teahouse's picture

Come on guys, let's be objective here,
if the "West" wants (and I am not implying would be right)
they can send Russia back to the 18th century.

Wed, 04/02/2014 - 09:09 | 4616844 unplugged
unplugged's picture

If Putin wants, he can send the Yellowstone Caldera a few 1,000 feet high

Wed, 04/02/2014 - 09:17 | 4616890 Peter Pan
Peter Pan's picture

Heaven forbid although the devil might allow it.

Wed, 04/02/2014 - 14:57 | 4618225 Deathrips
Deathrips's picture

TEA, I really must know HOW they could do that?

 

Please share....i want to believe your comment isnt shallow.

 

This ought to be good.

 

RIPS

Wed, 04/02/2014 - 08:47 | 4616762 francis.sawyer001
francis.sawyer001's picture

That GIANT fucking SUCKING sound your hearing is everybody on earth withdrawing ALL their FIAT from JPM.

If JPM wants to play CYPRESS, then they're going to find it a very lonely game.

Wed, 04/02/2014 - 08:47 | 4616763 jjsilver
jjsilver's picture

More theater for the masses.

Wed, 04/02/2014 - 08:48 | 4616767 toadold
toadold's picture

"Mrs. Obama ve have some photographs dat ve think you vill be interested in." 

"There is a rumor that the Presidents fall down a flight of stairs was no accident."

Wed, 04/02/2014 - 08:50 | 4616778 Oh regional Indian
Oh regional Indian's picture

Toad, everyone actually, for HIGH WEIRDNESS, check this out, says Michelle Obama is actually Michael Obama, a man....

Crazy world...

http://www.youtube.com/watch?v=fVAXqKugXkg

Trip out!

ori

Wed, 04/02/2014 - 09:02 | 4616818 Husk-Erzulie
Husk-Erzulie's picture

Awesome, damn I love the UTubez... :-)

Wed, 04/02/2014 - 09:11 | 4616859 Oh regional Indian
Oh regional Indian's picture

Can't help but say....whatttttt ifffffffff......holiiiii crap!

Wheels with-in wheels....

What disclosures await in this time of Apocalypse!

http://aadivaahan.wordpress.com/2012/11/05/apocalypse-now/

ori

Wed, 04/02/2014 - 09:10 | 4616851 lakecity55
lakecity55's picture

Bath House: "Wookie, are you glad to see me or is that a dick in your skirt?"

Wed, 04/02/2014 - 08:48 | 4616769 Dick Gazinia
Dick Gazinia's picture

Time to launch the Russian whaling fleet.

Wed, 04/02/2014 - 08:50 | 4616777 A_Nejad
A_Nejad's picture

You absolutely, definitely, don't want to be near a bear that just got stung on his ars...Only a J-street boys comes up with an idea like this, cause honestly, they don't e**ing care...we are worthless after all 

Wed, 04/02/2014 - 08:51 | 4616783 ThisIsBob
ThisIsBob's picture

Jaime thought the cuff links were free, but he was wrong.

Wed, 04/02/2014 - 08:53 | 4616789 pndr4495
pndr4495's picture

Well when a sovereign state gives up the right to issue (control) it's own supply of money , what can be expected? What can be expected is what everyone on earth is undergoing right now , save for a select few human beings. It cannot go on much longer. There in fact IS a straw that will break a serf's back.

Wed, 04/02/2014 - 08:55 | 4616791 Pumpkin
Pumpkin's picture

Hmmmm...  I wonder if there will be another radioactive tea party.

Wed, 04/02/2014 - 09:01 | 4616809 Last of the Mid...
Last of the Middle Class's picture

If you like your US$ you can keep your US$. Or as the soup kitchen nazi might say. No money for you! This is going to get intresting, well that is up until the bankers put some poor kid in harms way just because he wanted to serve his country. Bankers will not be denied!

Wed, 04/02/2014 - 09:07 | 4616839 zipit
zipit's picture

One word for you, Vlad: Bitcoin.

Wed, 04/02/2014 - 16:46 | 4618650 MeelionDollerBogus
MeelionDollerBogus's picture

Ya, the one thing less stable than the rouble ... smrt.

Wed, 04/02/2014 - 09:08 | 4616841 therover
therover's picture

Hey Vlad...time to ramp up the minting of silver bullion. BUY IT ALL.

Wed, 04/02/2014 - 09:09 | 4616845 Byte Me
Byte Me's picture

All this 'support' for Putin and company is all very nice, I'm sure. But at the risk of a downvote or several, MY money (that which isn't in gold) is on the bigger economy winning. I don't see many people here rushing in to hold Rubles, Yuan or Rupees which would be the corollary of this 'support'.

Thinking that "the enemy of my enemy is my friend" is too simplistic. What have the Russians ever done that would suggest - even for a second - that they have any benign interest in you or me or our societies?

Wed, 04/02/2014 - 09:20 | 4616909 A_Nejad
A_Nejad's picture

You see, your comment here is the exact same mistake some other folks make, and that is the fact that you consider the economic "burden" on Russians as the "prime" factor for Vladimir to bend....You don't know Russians and their history.  Do you honestly believe the average Ruski gives a damn about Visa, GS, or other (for us) regular daily business?

 They are NOT like that when it comes to pride of their "mother Russia"....I suggest you take a trip over there and see by yourself (go there twice if you can and not married....). 

 

Wed, 04/02/2014 - 09:42 | 4616997 Byte Me
Byte Me's picture

You don't know Russians and their history.  Do you honestly believe the average Ruski gives a damn about Visa, GS, or other (for us) regular daily business?

In actual fact, I have every sympathy for "the average Ruski" - even if their pride would probably be mortally insulted by that view - in light of their history and that most of them are too busy making a living just like anybody else in the world.

Of course they don't care about "Visa, GS, or other (for us) regular daily business?" apart from scratching a living like the rest of us. This just goes to validate the 'West's' imposition of "financial constraints" as being targeted.

(and) Of course the "Average Russki" is going to line up and back Tzar Vladimir. They've been conditioned for centuries in obedience to the Leader, dissdents keep their heads down, and with good reason.

Wed, 04/02/2014 - 10:18 | 4617157 A_Nejad
A_Nejad's picture

Oh my, I just had a vision of Glenn Beck speaking...The man is right, I tell ya, Russians have also 6 million soldiers in Minnesota...

P.s. No, you bite me ;)

Wed, 04/02/2014 - 10:36 | 4617229 Byte Me
Byte Me's picture

ROFLMAO! Glenn fucking WHO??? I just can't understand your mindset.

Wed, 04/02/2014 - 10:37 | 4617234 Catullus
Catullus's picture

Thinking that resistance to the US the empire is somehow support for Russia is ignorant.

Some people may actually support Putin (doubt it), but most people here are just cheering against the US empire.

And what does the "bigger economy win" exactly? If a resource-rich, nuclear power demands payment of oil in gold, the US loses on all fronts.

Wed, 04/02/2014 - 09:12 | 4616863 zipit
zipit's picture

A little Polonium in your tea, Jamie?

Wed, 04/02/2014 - 09:16 | 4616880 Peter Pan
Peter Pan's picture

Up his ass might be more appropriate for what he's done to the USA let alone Russia.

Wed, 04/02/2014 - 10:30 | 4617206 RaceToTheBottom
RaceToTheBottom's picture

Wonder if Ol Vlad is taking donations?  Hey, Putin Man Crush team, use your influence....  We want to donate to the JPM Polonium Tea fund

Wed, 04/02/2014 - 09:12 | 4616864 Peter Pan
Peter Pan's picture

Does anyone honestly think Dimon didn't get the nod from the Obama camp to do what he's doing?

 

Wed, 04/02/2014 - 09:13 | 4616867 Last of the Mid...
Last of the Middle Class's picture

Poor bankers, don't you just hate it when front running everyone elses trades by a few milliseconds isn't enough.

Wed, 04/02/2014 - 09:15 | 4616874 Peter Pan
Peter Pan's picture

Why can't Vlad and Obama fight this out with nail guns at one pace distance?

Wed, 04/02/2014 - 09:53 | 4617050 Savvy
Savvy's picture

I'd pay to see that. But I think one contestant wouldn't show up.

Wed, 04/02/2014 - 10:50 | 4617281 joego1
joego1's picture

How about doing it the old school way with hammers and nails? Jesus did it.

Wed, 04/02/2014 - 12:29 | 4617635 No Euros please...
No Euros please we're British's picture

Jesus was a bad example, the Jews won that one.

Wed, 04/02/2014 - 09:25 | 4616888 Rakshas
Rakshas's picture

Enough is enough already, Venezuela, Syria, Libya, Ukraine - how about sending the chickens home to roost, as is done so shall be done and all of that; we've been living under the threat of terrorism for the past decade and a half but all the warnings that have bombarded us over this time are actually more of a catalog of our own governments tricks - every administration since Reagan is easily guilty of Crimes against humanity on a scale that increasingly rivals the Holocaust and for what?  

That bone smoker in chief living in public housing and his long faced meat puppet are beyond contempt and the rest of DC - well drawing and quartering is too good for  those assholes.

Aw man I am just so sick of these assholes; whether it be in small town America or Caracas they just seem to relish in destroying any sense of community and self determination where ever they find it.  ...... Fuck each and every one of these vipers.......

 

 

EDIT - for clarification purposes the term Holocaust is not limited to those members of the house of David that perished but rather to all the souls who's lives were cut short to benefit the few psychopaths that sought to control the world by whatever means necessary. 

 

Wed, 04/02/2014 - 09:18 | 4616895 Spungo
Spungo's picture

Maybe we'll get lucky and Putin will have Jamie Dimon's entire family killed.

Wed, 04/02/2014 - 09:27 | 4616940 Peter Pan
Peter Pan's picture

If we are against drones killing innocent family members then we too need to leave comments regarding family members out of this discussion.

I understand your frustration and anger but there are limits which we should not ignore.

Wed, 04/02/2014 - 10:24 | 4617184 francis.sawyer001
francis.sawyer001's picture

If there were a god, I mean if PUTIN were a god,
Then he could, should, and would DRONE all the ZH
immortals.

A ZH immortal is anybody that has an account that
is more than 2 months old, as it clear as fucking daylight,that only AIPAC ZIONIST SHILL cock suckers
are immortal on ZH.

Droning a 'wedding' of innocents is 'bad', but
droning a ZIO-NEO-CON circle jerk, is an act of
love.

Tough love yes, but love none the less, out of every
zionist corpse may arise a bot of passion.

Wed, 04/02/2014 - 11:57 | 4617515 LFMayor
LFMayor's picture

Limits?  ROFL!  They're taking money.  From a russian mobster, THE RUSSIAN MOBSTER and now we're going to discuss limits.

Wed, 04/02/2014 - 09:21 | 4616911 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

This wasn't unilateral, they got JPM by the balls and Dimon also. Useful idiots comes to mind here to be thrown to the wolves to cover their own asses. This probably negated about 10 billion in fines to the firm and few criminal investigations to act 'unilaterally'.

And this statement I am calling bullshit on to be unfair and mentally unbalanced.

Any hostile actions against the Russian diplomatic mission are not only a grossest violation of international law, but are also fraught with countermeasures that unavoidably will affect activities of the embassy and consulates of the U.S. in Russia,” Lukashevich said.

Diplomatic missions my ass, they are fronts for intelligence agencies and such just like nuclear energy is a front for making fissible fuel for nuclear bombs just like nonprofits/institutes like Soros Open Institute are fronts for the global government money banking system transfer network to foward policy in countries.

Wed, 04/02/2014 - 09:23 | 4616924 TruthTalker
TruthTalker's picture

So JPM decided to get involved with international politics that effect not only the US  but other nations.  On whose authority (yes JD those presidential cufflinks were beautiful)?  Slime and corruption - someday the bankers & their puppets will swing.

Wed, 04/02/2014 - 09:39 | 4616930 Latitude25
Latitude25's picture

Dear Mr Putin,

Please take aggressive action against JPmorgan buildings and personnel worldwide.  Just march into them and take them over and shut them down.  You'll be doing the world a great favor.

Wed, 04/02/2014 - 09:47 | 4617017 unplugged
unplugged's picture

And once you are done with Jamie & Co., please do the world a favor and continue with, order not important:

 

- Goldman
- HSBC
- Citi
- BofA
- Morgan Stanley
- US Fed
- ECB
- BoE
- and any & all other remnants of the Rothschild Regime

Wed, 04/02/2014 - 10:35 | 4617227 RaceToTheBottom
RaceToTheBottom's picture

Maybe ZH can assist by facilitating a vote among the members of JPM to decide the need to protect Russians,

or people who speak Russian,

or people who at one time spoke Russian,

or people who at one time thought about speaking Russian,

or people who saw a Russian once...

Wed, 04/02/2014 - 10:49 | 4617277 joego1
joego1's picture

Nucum Danno.

Wed, 04/02/2014 - 09:24 | 4616931 nah
nah's picture

Russia JP Moragn learned the lesson that you need the US government or your just new money chasing old till you die

.

its just big business bitchez

Wed, 04/02/2014 - 09:26 | 4616939 yogibear
yogibear's picture

Russia needs to cut off natural gas and get prices to skyrocket.

Next China need to raise the value of it's currency substantially. Cheapen goods internally for consumption and cause substantial US inflation. Ban dollar transitions and force transactions off the US dollar. 

Wed, 04/02/2014 - 11:47 | 4617474 The wheels on t...
The wheels on the bus are going to fall off's picture

Nasty 

Wed, 04/02/2014 - 09:26 | 4616942 Savvy
Wed, 04/02/2014 - 11:58 | 4617520 SmallerGovNow2
SmallerGovNow2's picture

Scary shit...

Wed, 04/02/2014 - 09:40 | 4616972 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Crypto-currency can do the job of BIS real easily without all the bureaucracy and bullshit.

And before everyone starts with the you don't hold it, it ain't real bullshit. It serves as an accounting ledger that can't be easily cheated once 2 entities decide enter into a contract with each other to trade goods and services. It allows for complex ledger of transactions and multiple entities. The crypto-currency within is kind of irrelevant if used in that manner. You still need to settle up one way or the other but it allows for a ledger everyone can agree on is fair and not being easily manipulated as far the transactions go and at the same time anonymous transactions so the next guy doesn't know what you are buying.

 

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