This page has been archived and commenting is disabled.
Blythe Masters On The Blogosphere, Silver Manipulation, Gold-Axed Clients And Doing The "Wrong" Thing
In an article that is about three years overdue, "JPMorgan's practices bring scrutiny" the FT finally takes aim at that other "vampire squid", JP Morgan, which technically is incorrect: because if Goldman is a nimble and aggressive creature, with infinite tentacles in every governmental office, and unencumbered by massive liabilities, JPMorgan is just as connected, but unlike Goldman, it is a behemoth in every other possible capacity, and with its trillion in deposits, matched by tens of billions in bad loans, is a true Bank Holding Company. As such 'Jabba the Hutt' would be a far more appropriate allegory to describe the the firm, whose reach, scope and scale lead the FT to classify it as "Three times a pallbearer, never a corpse."
As some may recall, back in October 2009, Zero Hedge did an exhaustive expose on the relationship between JPMorgan and the then version of MF Global, Lehman Brothers, whose perfectly functioning division, its North American Brokerage, ended up being scooped up by Barclays for pennies on the dollar. In the meantime, however, JPMorgan, with the backing of the Fed, proceeded to demand as much extra collateral for Lehman repo positions on hold with JP Morgan and the Tri-Party repo system, of which JPM is one of only two custodians, simply because it could, and because this is the easiest way for the bank that is even closer to the Fed than Goldman Sachs, to procure liquidity during times of broad distress. Such as when the money market is about to freeze to death. Since then, the topic of just how much JPMorgan may have ripped off the Lehman estate has escalated, and is set to be an epic showdown in the form of a lawsuit which "accuses JPMorgan of using its “life and death power as the brokerage firm’s primary clearing bank” to put a “financial gun” to its head and demand excess collateral." And here is the kicker: "It claims JPMorgan abused its access to US government officials and then “accelerated Lehman’s free fall into bankruptcy”, hoovering up collateral to protect itself to the detriment of the firm and other eventual creditors."
And therein lies the rub: because of all TBTF banks, JPMorgan is literally at the nexus of the entire $16 trillion shadow banking system, the very system that the Fed, much more than traditional liabilities, knows and uses constantly to hypothecate and rehypothecate assets, in essence creating money out of nothing, and which in conjunction with the other Tri-Party repo dealer, Bank of New York, as well as State Street, provides the US financial system with over $30 trillion in shadow credit money in the form of custodial assets - liquidity the bulk of which is not accounted for in any conventional monetary textbook or in any modern theory of money as it is such a novel development, yet which is still 100% fungible, and is by far the biggest secret of the American monetary system. It can be seen as summarized in the following graphic, first created by Citi's Matt King back in the week before Lehman failed (full report can be read here, and should be by anyone who wishes to understand just what is truly going on behind the scenes in modern finance).
Keep in mind, these are the same custody assets which, as explained previously in the case of MF Global, can be rehypothecated in serial fashion, creating a virtually infinite amount of "money" as long as everyone who is in on the fraud agrees to maintain the ponzi. Of course, if and when someone demands delivery of an underlying assets, the whole thing falls apart, which is what happened with AIG, with Lehman, and to a smaller degree, MF Global.
So what does all of this have to do with Blythe Masters?
Simple.
At the end of the day, and as the Lehman lawsuit alleges, JPMorgan has intimate access to US government officials, and particularly the Federal Reserve, who will in turn take advantage of all JPM facilities, including its trading desk, to preserve the sanctity and foundations of the $30+ trillion in custodial assets and rehypothecation system, which further means that any potential implication that fiat money is impaired has to be wiped out. As it so happens, soaring prices of gold and silver are the primary if not only means left to express rising doubts in the future viability of the dollar, but in the viability of the fiat system in the first place. Which means that the Fed is, without a doubt, one of the biggest "clients" of the Fed in a symbiotic crosshold, where what the Fed wants, JPM has to execute and vice versa.
This brings us to the transcript of Blythe's interview on CNBC, in which a primary topic, ironically, was whether or not Jamie Dimon's firm manipulates the prices of precious metals, and particularly silver. What followed was the usual avalanche of platitudes that only a muppet can love:
- "JPM's commodities business is not about betting on commodity prices but about assisting clients"... "it's about assisting clients in executing, managing, their risks and ensuring access to capital so they can make the kind of large long-term investments that are needed in the long run to expand the supply of commodities"...
- "There's been a tremendous amount of speculation particularly in the blogosphere on this topic. I think the challenge is it represents a misunderstanding as the nature of our business. As i mentioned earlier, our business is a client-driven business where we execute on behalf of clients to achieve their financial and risk management objectives. The challenge is that commentators don't see that. So to give you a specific example, we store significant amount of commodities, for example, silver, on behalf of customers we operate vaults in New York City, Singapore and in London. And often when customers have that metal stored in our facilities, they hedge it on a forward basis through JPMorgan who in turn hedges itself in the commodity markets. 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, that would suggest inaccurately that we're running a large directional position. In fact that's not the case at all.
- "We have offsetting positions. We have no stake in whether prices rise or decline. Rather we're running a flat or relatively flat matched book.
- "What is commonly out there is that JPMorgan is manipulating the metals market. It's not part of our business model. it would be wrong and we don't do it."
Ah yes, because JPMorgan never engages in "wrong" activites...
And while we admire JPM's naive statement that it can triple its commodities revenues to $2.8 billion in 2011, while everyone else was losing money in the space, without taking prop bets, we just don't buy it. Just as we didn't buy Goldman's explanation that its prop desk only accounted for 12% of that firm's revenue, as Goldman told us directly (coupled with our challenge of prop trading in 2009, a pursuit taken on by Paul Volcker a few weeks later, resulting in the Volcker Rule). Needless to say, once the firm did break out its prop trading, it became quite clear just how huge of a factor prop trading truly was for Goldman. Because taken at face value, it would mean that all else equal, JPMorgan transacted at least 3 times more in flow in 2011 than in 2010. Yet, everyone knows that trading volumes in 2011 slumped relative to 2010. So no, Blythe, we appreciate your explanation, but we would appreciate the truth even more.
And yet there is one simple explanation that would make Blythe's story 100% correct: would JPMorgan consider the Fed, whose interests in keeping the price of precious metals as low as possible, and are aligned with those of JPM for the reasons listed above, its client?
Because if so, then absolutely everything falls into place, as JPMorgan is merely the overt conduit by which the Fed, and specifically the New York Fed, conducts monetary policy in the commodities space, just as Brian Sack would conduct open market operations in the bond arena, and as the FRBNY uses, on occasion, Citadel, and its HFT expertise, to execute its discretionary stock trades (yes, we know about those too).
We would welcome Blythe's comments on any and all of the topics listed above.
In the meantime, for those who missed it, here's Blythe.
- 57764 reads
- Printer-friendly version
- Send to friend
- advertisements -



goldSeek put him up, V
...unaccustomed as i am to public speaking...
LMA0,000!
+100 on that
If you actually look at her answers from a literary point of view, most of it is meaningless corporate double speak. In other words, she is talking in circles without saying anything to avoid incriminating herself.
But she does make one little mistake. She suggests that JP Morgan trading is based on the actual silver holdings of their clients, and this is blatantly not true for two reasons.
1. That planet does not possess that much silver (you can check that out through any Universities Geology Department - please do so)
2. If their clients held that much silver, the worlds monetary supply would possess several thousand times it's current purchasing power.
So effectively, she is lying. Or at the very least being decietful and dishonest.
Read this, it's well worth it:
http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref
Pimping your own book again Mr Costello.
Bargain, only $13.49!
Red arrow Andrew because
1. purchasing power of silver or anything else such as gold is not pertinent to Blythe's comments and
2. no publicly available records indicate how much silver bullion China has, regardless of your simplistic suggestion to research universities [sic] geology department.
Despite all the uninformed hype and tripe one reads, China is JPM's big account that The Morgue "inherited" from Bear Stearns. China quit selling bullion by 2005 because at the time their annual sales exceeded the world's largest sovereign silver bullion holder's total holdings - India. The Chinese aren't dumb, they figured out the numbers. Anybody who has hundreds of millions, if not billions, of ounces of silver and has half a brain would be fading the Comex on strength: sell paper against your phyzz. That's been the name of the game since Comex commenced and it will be unless silver goes into a permanent "back." China is the big "commercial" in the COT short numbers. That the likes of you and Butler et al just haven't figured that out and accounted for it speaks volumes about how ill informed are those not in the "trade."
My personal opinion, it doesn't fuking matter. we will never see price discovery when you have Pirates running the show. Just ain't gonna happen. As I said 3 weeks ago, I was anticipating a $1,5xx.00 handle on GLD and I'm only off by $3x.00 at this point. I been noticing , it does not hold up well to global stresses, like it used to.
I think they will shake out all the paper and alot of Phizz holders in the end by either manipulation, the need to FRN up on Gold holdings in order to get liquid, or proof of purchace reciepts (warrentless searches) or leaving one holding the preverbial bag when there is no economy to convert your said value for the PM. Barbaric relic? We shall see shortly.
Gold *should be at LEAST $3,600.00 troy oz and Silver at $72.00 troy oz using all inflation, scarcity etc.. There able to keep it very low right now because..
1. "Their" writing Gold and Silver contracts and holding them IN HOUSE.
2. They don't want a new shit ton of new millioneres to compete against them in a whole sale buy up when the crash comes.
3. That's why the Bernank sticks to his.. inflation numbers so to stay right in line with the value of the PM market.
Nothing is safe and nobody get's out alive IMHO. I could be wrong.
They are= they're.
IrritableBowels = Spelling and grammer Natzi, *they are* synonymous, alike or meaning of same significance, Lolzz! Character assassination.
Your not attacking my message, that's a personal attack on me. Guess that's your M.O. = DILLIC?
Did that bitch just say "my daddy is in the details" in relation to the regulation question?
hanged by the neck until dead.
better bring it because I think she could probably take you.
She no good
Depends on what side of the trade your on.
"If I had a daughter...she would look like Blythe"
-The Honorable John Corzine
JPM has donated to some commodity college in Denver?
What's that all about.. Denver is at the center of elite plans for the future, it keeps coming up.
BB was brainwashing college kids last week and now JPM is supporting a 'how to short silver' college? It looks as if the new media is giving them enough trouble they have to counterract it via programming of the yutes.
i think the gas in the fracked hills is the draw?
Survival bunkers the size of cities under the Rockies?
TPTB better not have them.
Angry, stubborn rednecks like myself will be sure to build our new homunculi colonies at the gates, just to rip off their fucking heads with our mutated prehensile claws when they poke them out to see if they can see their shadows. Laugh if you like, but I am building an army for the task- banksters are not the only ones who can manipulate J6P to achieve their goals.
Not a single bit of humor in that. If they pull the plug, I will dedicate every mental and physical resource I can muster to finding the rat holes and burning them out. If people were not such unreliable shits to begin with, I would already have been delivering love notes via air-mail to these people to stop what is coming. Problem is, far too many are in the "see something-say something" crowd, and I don't want my middle name on the 6 o'clock news.
Justice is coming, it's complicated and takes time- but there is no other choice. You all need to do what you can in your individual lives to do what you can- maybe some of you *ahem* virtuous traders can put some of your gains towards farmland and weapons so that you can supply those who will have to man the fronts. Militia is as good an investment as gold these days.
...stand fast and do no harm. Fear not, mercy is risen in agreement
http://www.biblegateway.com/passage/?search=Revelation%2013:%204,%207,%2015&version=KJV
http://www.lambslain.com/2011/07/nsa-is-working-on-computer-system-that.html
http://www.youtube.com/watch?v=Aw6yROv3TeM
http://bible.cc/luke/10-18.htm
....Prometheus! http://www.youtube.com/watch?v=enzaao300M0
i cant believe she is addressing this 'directional' position. the host didnt even bring it up.
First time I ever saw her live, speaking. I feel conflicted saying this, she sure is evil, and has done incalculable harm, but I would love to get her alone in a hotel room one saturday afternoon. All I need area few viagras, and some perrier with lime . . .
I would then shower up, leaving a quivering, sweaty, exhausted Blythe, dripping from every orifice.
I would tip her ONE SHINY ASE.
I wonder what psychological problem I have . . .
...sounds pretty normal to me...
...not that there's anything wrong with that...
I wonder how many hummers she had to give to get to the top of JPM?
Financial Terrorist CU#T should be hung next to Diamon on the same gallows.
Folks,
A few things.
First, You're all interested in saying how you would "bone" her or whatever. Let's shift away from that and say what is no one has yet said: Blythe should be congrutulated on such a great perfomance. Composed, no crying, made eye-contact continuously, engaged in very few lying "tells". Notice, though, how her attire itself (today and 2009) is almost militant looking and protecting in its degree of cover. This woman wants to feel extremely secure and defensive.
Second, this interview was obviously highly scripted. CNBC camera crews don't just hang out at UC Boulder waiting for executives to drop by. From the interviewers remarks, they have had an extensive pre-interview talking about silver already. Blythe has been prepped. You think they do that for Peter Schiff? No chance in hell. Why? You know.
Third, and NO one has pointed this out...the interviewer (God bless her, she's even more nervous than Blythe) asked a very clear question, which Blythe did not address at all:
"Looking at your positions in silver, we talked eariler about the volatility in the silver market, can you talk about JP Morgan's positions and price volatility and how they are related?"
Notice that Blythe says absolutely nothing about volatility. That was her jumping point to get on to her soap-box about clients and lecture us all like we have no idea what hedging means. The relationship of positions and price volatility is so sensitive an issue that she deliberately changed the subject. Blythe well knows she cannot delve into any discussion of the volatility in the silver market, which is uncanny. This interviewer, for all her faults, had some great prep.
Lastly, it is patently clear that Blythe is scared. Note the final comments they close on:
Masters:"...we have to be aware of the unintented consequences [of too much transparency in the commodities markets]. And there's a real risk of those untintended consequences. For example, if you make it difficult for institutions to transact in commodity markets by excessively exposing their actions to the public domain too quickly, that would drain liquidity and make it harder for end users to hedge.
Epperson: There is a concern about liquidity longer term?
Masters: Yes.
Seems like verbatim a conversation she would have with Bart Chilton, to me. What's exactly wrong with the public or someone in a regulatory position knowing who is behind these massive shifts in the commodities market?
Also, what caused Masters to bring up the dangers of liquidity into this conversation? No doubt it is this: it is the paper market in silver that keeps it so "liquid".
Easy money = Easy gold/silver. The two are necessary for the other's existence. They have a strange symbiosis that Masters alludes to here. If gold or silver shoots through the roof, QE cannot continue. And if QE is cut off right now, gold/silver will plunge.
I'm telling you, I don't know about you guys, but I knew a lot before watching this...but Masters did such a good job of avoiding any physical or verbal indications of any lying, yet in the process, if you read carefully, she basically gave away her entire hand.
Basically, here's what she said:
"I am an intermediary fo the Federal Reserve. They are paying me to hedge against their own commodities in order to extract the last few drops of financial sway from the dollar. And, as much as you hate my existence, most of you watching want me here, because the unwashed masses have no idea what happens if/when I fail."
1. No QE means every market will collapse except gold and silver because the debt that backs the dollar would all be defaulted on and there would be no more demand for dollars to pay it down. Why do you think the Euro would drop on bad debt but not the dollar? Why do you think gold and silver have shot up on every bust that has ever taken place in human history?
2. QE has been going on via the Treasury market since 1980. It isn't going to stop because that is how we fund government spending. So stop kidding yourself that there was something magical about the last few years or that it is ever going to stop.
Please reconsider your assumptions. For me to say "If they stop" does not mean "They will stop".
They won't stop printing. But for you to assume that ending QE would be immediately bullish for gold and silver is nonsense. As if every person would just say "Oh, since some random program I've never heard of just ended, I am going to sell my mutual funds and buy a piece of gold," is a fantasy. All I'm saying is, they won't end QE in some form, but if they did, like in a Ron Paul fantasy, accompanied by massive spending cuts and higher interest rates, you'd have a drop in precious metals. Just look at 1979-81, when they raised interest rates and took down a huge metals bull run. The only difference is that it would be politically impossible today. Sure, eventually people would start using gold and silver as currency, but not immediately.
We really don't disagree on much here.
just wanted to acknowledge your well-considered post, amidst the violent low-brow imaginings on display (seriously guys, how pathetic are most of your fantasies?).
that feels about right, and lines up with the Tyler(s)
must preserve the fiat illusion for as long as possible, while the global banks unwind their positions and accumulate their metals, their "balancing" acts for the fiatsco to come, eventually. meantime, they'll keep luring the gamblers into the "markets" and sure, some peoples are making some monies. . . until they don't.
keep stacking the real thing.
Postmortemism said:
First bar!
Second bar!!
Third bar!!! Jackpot!!!
Yes, Blythe is scared. She's not the only one. It is certainly interesting how Blythe's carefully choreographed performance comes on the same day that Brian Sack is tapped, and so soon after the Bernank's unprecedented educational brainwashing and indoctrination tour.
Something is going on, something which frightens these people as well as those who pull their strings.
...the Blythe ''tell(s)'' is and are well called. As usual the impressive world class (serious) analysis on ZH, which attracts an ever increasingly inspired readership of the awakening masses that are not traders or learned in the field, hits the nail on the head. Too bad the nail is the collective coffin. Lol, (does a Biderman chuckle)
It is ''fear'', precisely the fear of one's own strong delusion, (modus ''we'' maximized ''our'' profit at the ''world's''/black hole expense, but, find out ultimately that ''we'' the accused have no public defense and must pay the public penalty for stinking thinking) ...that being, in this case; (of the offender and all so accused by said spirit) the humbeling ''price discovery'' of an exposed (criminal) lawless delusional fool that rejected mercy ...and in agreement (key) knowingly (unbecoming conduct) gave into temptation ...because of the ''strong'' (offer) support of (the) other fallen foul (assholes) birds hell bent on their greedy power, which is defining their market maker and geopolitical beast affect (in this case) for their own (strong delusion) desired goal(s) that ''are now have become'' lol their new fear, as of old.
The fool(s), having (now) become subject to (fear) the ''rule(s)'' of ''one's own (Pimp'n image) judgment'', find(s) out that they are (in the eye of Horus ''The Convicted'' cellmate lol) now not only in fear of their own created trouble, and in the public eye have now been totally exposed to more than just the foundation of their own principal passive agressive objection(s) now risen up by their own public claim of dominion in this case, but, their fear is now ligetimately of ''grave concern'', because they are now subject to the (unbecoming) ''reality'' of being more than just a ''prison whore now ...bitchezz lol''. They know they can't now avoid the public wrath in a trial setting in one of their own bought and paind for courts. Lol. Their fear rests with the general public on the public streets.
(Suicide Vampire Squid ''fear'' is; of the second death, which comes after committing/conceiving the abortion of the spirit in agreement with the host of the law, in the end their fear is of their own lack of regard for their own physical ''Constitution'', which they held in contempt by ''virtue'' of their own fearful act(s) against the public and finally themselves, and it sucks)
This is the fear of the Suicide Vampire Squid of the Great Wal Mart of China (and everyone of us that has ''sinned'' and sacrificed virtue for short term reward because they thought their own judgment would lol ''Passover'' and not come upon them) the (supernatural affect) self targeting (missile) now points back to the source of ''target (zero lol) interest stimulus'' gone bad bad boy in the black hole, ie in retrospect (like the ''quicky'' short term ineterest(s) that came back and said ''hello daddy'' lol) and the ''way off the range of desired destruction'' has found them wanting blood (on their door) at the expense (life) of their own (U.N. )sustaining lol principle security (labor and life) effort(s), ....to save their own butts from getting kicked by their own bruised heel. Fannie Mae I have another ...sir. http://www.youtube.com/watch?v=l3gYKXznNQ0
This is Chris Vermin. Welcome to the fastest three minutes in finance sponsored by Facebookie, official HFT front-runner of the New York Stock Syndicate. Let's recap the action in the first half: JP Morgan…Fed…customer…hedges...silver…bank...vault…manipulation…conspiracy…smiling…evil…liar…dildo…pooper…turd…blog…fear…bichez.
What do you see coming up in the second half, Blooper? Well, JPM is winning, of course, and I don’t think they have much to fear from that unusually ragged trash talkin performance by ZH so far. Coach Durden is gonna have to talk some real fight back into his team or I think that JPM will still be smiling at the end of the game, Chris.
Let’s go down on Sharon Pepperson.
I just spoke with Coach Demon, Blooper, and he’s pretty happy with his team’s performance in the first half. I think you may see JPM pull out some plunging necklines in the next series to try and put this thing away.
Coach Durden, Coach Durden, Coach Durden…Well, he’s not in any mood to talk right now, Bloop, but it looks like he has a big boner on. Back to you, Bloop.
Thanks, Sharon. That was quite a halftime show, Chris. That barfin e-trade baby balloon was hoot. We gotta take a break. We'll be right back.
I can't wait, sorry if this has been pointed out:
If they're sitting long the physical (in the vault), they need an offsetting short position in the paper market. It also doesn't make sense to say that JPM isn't running a matched book in Silver when we already accept that they run matched books in all their other markets. The silver manipulation claims here are bullshit, in my opinion.
What!!!!! THEY HAVE NO SILVER. The SLV is a fraud. Fuck me.
We don't accept any shit from JPM. They are a fraud.
Oh, they're running a matched book. And making $2.8 billion. Um what can't you see?????
FUCK ME SIDEWAYS WITH A PITCHFOLK PLEEEEEEAAAAASSSSEEE.
@4:20
"It's not part of our business model, it would be wrong and we don't do it(manipulate)."
This from the CDS queen at JPM who knowingly screwed her clients up front.
BM is full of shit. No doubt about that.
If this is true, doesn’t it make you wonder why she or some rep from JPM shows up at every CFTC hearing on commodity position limits and argues vehemently against them? Doesn’t it make you wonder why JPM and all the other client servicing banks get exemptions from the Fed from trading position limits imposed on others? If their business model doesn’t require them to hold positions in commodities, why would they care about position limits being imposed on them? Turn around Blythe, so we can see your other face too.
"There's never one roach," Bill Gross said....
Blythe isn't lying in the technical sense, and everyone should recognize that JPM is now firmly in the driver's seat regarding "paper silver" prices. They've taken delivery of 7.1 million toz. in Q1, because they understand that for every person demanding physical silver, there's still a thousand douche-nozzles planning to strike it fiat-rich by paper-trading silver via futures, or ETFs. Let's look at 1 year returns of silver ETFs:
SLV: -21%
AGQ: -58%
SIVR: -21%
ZSL: -47%
DBS: -21%
USV: -16%
FYI: There is no inverse silver (without leverage) ETF
The only thing that wrecks the game is if large numbers of people actually take delivery and that just isn't happening, but I repeat, JPM now stands ready to deliver enough silver to control prices for the foreseeable future, so it comes down to a very simple choice:
Buy physical dirt-cheap or get your nuts ripped off paper trading.
Blythe already knows what most of you will choose. Bon Voyage!
Fascinating, thanks for posting.
The devil is not in the details, it is in the people operating the system, haha. Oh well, yet another reason why mortal men cannot be trusted with the incredible ring of power called money. It is not like you or I would be any better then these charlatans running things, or even incorruptible, it is why you have to have some sort of gold or commodity standard along with constitutional laws that are iron clad above imbecilic democracies that can simply vote in things for themselves.
wikipedia:
Responsible for the structuring and distribution of credit derivative products at J.P. Morgan, Ms. Masters became a managing director at 28, the youngest woman to achieve that status in the firm's history.[5] She is widely credited with creating the modern credit default swap, a form of insurance that protects a lender if a borrower of capital defaults on a loan.
Additionally, it is widely accepted the Ms. Masters is the incarnation of the "Whore of Babylon" as outlined in Revelations:
I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns. And upon her forehead was a name written a mystery: Babylon The Great, The mother of all harlots and abominatons of the earth.
Nothing can go wrogn,
Too funny.
Oh admit it, all you boys would like to bend her over and give the devils winch the one eyed python and make her scream "Hi Ho Silver"
Other then that, at least we know where she laid her eggs, U of C, nuke it form orbit.
I'd hit it just for bragging rights and leave her a silver coin on the dresser as payment.
I would leave her a paper contract saying that I have Her silver ASE I used to pay her in a JPM vault.
haha
But JP Morgan IS manipulating the precious metals market and yes, it is wrong. But it's not just me that is saying it. Apparently The South Carolina State Legislature believes it to be the case. Are they not part of the Governing establishment of the U.S? If they were saying it, in print! would that be "awkward." Have a look at this, I'm not from around these parts, so not sure of its validity. But the interesting part is at the top of page 2: http://www.treasurer.sc.gov/Documents/Proviso%2089%20145.pdf
I hear Blythe Masters makes like $89/hr and her last check for just a few hours work was $21,859.72.
i've mentioned before she's become the face of women's cancer fundraising in the bigApple since she crashed silver last year; very carefully re-tailored image since last Spring imo
her name.org site encourages others to donate "in her name" so you might be right, fuu!
the benzelbub and she are both mannequins for this "trust me" propaganda to br projected and displayed upon
a lot of people are frightened; others are angry; the banksters are taking out formerly sovereign entities known as nations; the ponzi is getting truly absurd, the debts are going parabolic, nobody is telling the truth about much of anything, and the banksters are doing "trust me" press conferences...
all this "governance" is gonna be pretty pricey, probably...
Bob Dylan - Carlos Santana "tombstone blues"
Only an idiot would let JPM handle their commercial commodity orders. They front run every order and purposely dump orders in unfillable blocks.
"We have Store Vaults in NY, London & Singapore" .. good luck getting your physical back muppets..
this bitch is full of shit
WOW
So she says a client stores metal with them and hedges it. So JPM then hedge it as well. I don't even know what kind of shit she is shoveling whe she says she has no trade on. WTF is she hedging if it is already hedged?
bitch!
doubley postay
"it would be wrong and we don't do it" @ 4:00 4:30 play that part a few times. Just by facial expression anybody can certainly tell she is lying. Turn down the volume even. Such bad actor and liar. I've had GF's that lied head and shoulders better. Of course they weren't lying about what Blythe is.
Her smile at that point is a classic tell, and the standout moment of the interview. The difference between Blythe and an ex GF is that Blythe really is screwing EVERYONE.
DOesn't square with what a senoir JPM exec has said to me.... JPM is making a fortune off commodities positions - a buhsiness this persopn openly wonders about.... why is a bank involved in this? 'One day one of the tankers they have offshore is going to sporing a leak or soemthing else is going to happen and all hell will break loose.... but ion the mean time Blythe is making billions for Jamie so ..."
the next time i need a large smelly extra steamy bucket of horse shit i will be sure to call on blythe....hope she has enough time to serve up as much horse shit to me as she did to ft....blythe, honey, go fuck yourself...
the next time i need a large smelly extra steamy bucket of horse shit i will be sure to call on blythe....hope she has enough time to serve up as much horse shit to me as she did to ft....blythe, honey, go fuck yourself...
It's really like I am watching a late night Twilight Zone rerun here me boyos. Blythe was in Denver because she was one of the JPM representatives officiating the inauguration of the J.P. Morgan Commodities Center there at the University of Colorado School of Business, Denver.
According to the Denver Post,
...The center will provide innovative programs and academic work in the field of commodity finance, economics and policy.
Faculty and staff at the center will collaborate with the commodities industry to develop relevant course work and research in industries such as agriculture, energy and minerals.
The university said the aim is "to solidify Denver as the world's hub for this field of study."
"No academic program matches what the J.P. Morgan Center for Commodities will provide," said Don Elliman , University of Colorado Denver chancellor. "J.P. Morgan will partner with the CU Denver Business School to create that vital intersection for commodities education and the industry."
Blythe Masters, head of J.P. Morgan Global Commodities, said J.P. Morgan is thrilled to support the school "as they expand academic and public understanding of the commodities industry."
"We don't see this as simply a gift to the school; it is an investment to better prepare our future and existing talent and improve public understanding through exciting new research," said Masters, who is on the JP Morgan Chase Executive Committee.
The center will be located on the first floor of the new 120,000-square-foot CU Denver Business School building in downtown Denver. The center features a state-of-the-art Finance and Commodities lab. The lab will provide students with hands-on experience and a better understanding of how trading can help commodity producers and consumers alleviate some physical risks and financial uncertainty in those industries.
The CU Denver Business School will offer specialization certificates, undergraduate and graduate emphases and degrees and professional education through the J.P. Morgan Center for Commodities.
. If anyone here refuses to imagine the obvious reasons why J.P Morgan would want to create such a close up and personal relationship with this school: proximity to the Colorado School of Mines might be your first clue. And while Eric Sprott is making blogosphere headlines for encouraging mining companies to retain metals on balance rather than dollar$, I think Endeavour has voiced interest for this of late, J.P. Morgan is positioning itself so far up the internals of the Mining Industry that Bernanke's fiat drivel at George Washington the other day really just sounds like something of a belch in the Oktoberfest tent of the Squid working the sub MSM, sub blogosphere depths of something which is not simply the gnat of manipulation, but the Hunger Game of CONTROL; from controlling the school of business and mining, following their soldiers to the field, to the ore, to the hedge and derivative creature we all love and loath. Now then, THAT is not a petty manipulation to be frowned upon as one might an obvious bridge player bidding each other to absolute clarity of each others hands, THAT my friends is the way to run the whole GAME. And think of it... all happening in Denver, the U.S.' historical center of the con game. They have been working this out for the past - years... right out in the open ... but who is watching? Perfect, Twilight Zone.great post - perception management. . . the training of minds in the ways of perceiving specific realities to the benefit of the manipulators.
happens all the time, be it in gov, military, "medicine" - all the institutions of control. there will be much competition to get "accepted" into these programs, no doubt.
unless /until someone drops one of those juggling balls, or someone plays the wild card. . . interesting times. . .
why acknowledge the blogosphere now, why the timing on 'national' tv. Something is brewing, maybe the new PM exchange, maybe some serious physical redemptions in London, this is serious damage control PR. Maybe a SWF targeting physical silver, potential Central Bank (Russia maybe) accumulating. Interesting times.
lol, we posted at the same time, with the same end words. . .
very interesting times!
Bingo. The FED is her client. Brilliant. I got a Colonel Jessup vibe from her. We cannot handle the truth. We want people like her on that wall.
Very scripted. All part of the new communications strategy, first the Bernanke does college and hammers the gold standard. Now Blythe does TV and talks about not doing what is wrong. The other side is concerned.
What was it Ghandi said , then they fight you, then you win.
Blythe Maters is just another puss filled vagina dragging itself along the carpet. The stench of putrification probably follows her everywhere .
I think you are being bit harsh on the Whore Of Babylon.
The big wheel of life keeps turning. Things will crash, chaos will ensue, scapegoats and bloodletting will be required. A group of society will need to be demonised. Masters apparently unshakeable powerbase and support now, will dissolve in a flash and they will start to blame people like her (and she is hated anyway) to take the punnishment.
Things can change quickly.
Bet she has a large stash of gold and silver hidden away somewhere in case she has to flee pitchforks, tar, feathers and mobs with ropes.
"And yet there is one simple explanation that would make Blythe's story 100% correct: would JPMorgan consider the Fed, whose interests in keeping the price of precious metals as low as possible, and are aligned with those of JPM for the reasons listed above, its client?"
Hey gang! JPM "is" the fed! Now does this all make sense!?
Youre' just some crazy conspiracy nut, Like i told the other sheep in the herd, the farmer and the sheepdog are not working together to control our actions, its all just a fortuitous coincidence.
"..creating a virtually infinite amount of "money" as long as everyone who is in on the fraud agrees to maintain the ponzi."
Well they would do wouldn't they! ...once you're in you're in.. honour amongst thieves, there's simply no going back from the Dark Side
Execute, schmexecute.
Jamie Dimon, muppet master?
Buy Silver.
Santa...... all I want for Christmas is to see this bitch do 20 years in Lompoc State Prison.
She actually says very little, and explains even less in any detail.
Just staged PR for the brain dead.
Blyth Masters! This is the Silver Liberation Army. ( http://silverliberationarmy.com/ ) Spit, spit spit … spit. Have an hair on my tongue.
Can’t get it off. You know how much I hate that!!? Huh, of course you do. You put it there. Remember that night when you were drunk? Of course you don’t, you were drunk.
I know what you said about us Blyth Masters, I know you badmouthed us to the execs at JP? Morgan, put the kibush on our deal. Now we gonna put the kibosh on you!
You know we’ve kiboshed? before. And we will … kibosh again.
Sure, go ahead, laugh if you want to. I’ve seen your type before: Flashy, making the scene, flaunting convention. Yeah, I know what you’re thinking. What’s this guy making such a big stink about.
Well, let me give you a hint, Blith. Maybe we can live without real money, people like you and me. Maybe. Sure, we’re too old to change the world, but what about that kid down the block, just sitting down, looking at his first own bought blinking Keiser Silver Coin. Right now!
Doesn’t HE deserve better?
Look, if you think this is only about Silver, you’d better think twice. This is about that kid’s right to freely buy Silver without getting his mind warped! Or maybe that turns you on Blyth Masters; maybe that’s how y’get your kicks. You and your good-time buddies.
Well, I got a flash for ya, joy-girl: Party time is over!
You think you’re an important woman? Is that what you think? You’re a laughingstock. You are a joke. These people are laughing at you. You’re nothing! You have no brains, no ability, nothing!
You can’t win. You can’t beat us. That’s why we here and you’re there. Because we are winnars. We’ll always be winners and you’ll
………… always be a loser ...
Evil Genius Loves Blythe Masters for Cheap Silver Prices BTFD! http://www.youtube.com/watch?v=Ud0pdhoisxc
http://www.ukchristianlouboutinsales.me.uk/
http://www.ukchristianlouboutinshoes.uk.net/
http://www.ralphlaurenukshirts.org.uk/
http://www.christianlouboutinshoes.ca/
Bleeding god botherer's get everywhere these days.....
Bla, Bla, Blythe... BAN her monstrous brainchildren, CDSs
Boy, it must be nice when you get to supply the questions you are asked in an interview. I wonder how much JPM agreed to pay for this one in the form of advertising fees? Here are a few additional questions I would have asked Ms. Masters:
Blythe, in addition to storing physical commodities like silver for your clients, do you sometimes take title to it on a repo agreement? (Answer: Yes)
Do you sometimes write OTC derivatives to hedge positions in physical commodities which either you or your clients hold title to? (Answer: Yes)
Is it fair to say that the vast majority of physical and OTC derivative positions in your book (which neither your clients nor the public are aware of) have predetermined dates for a future settlement transaction? (Answer: Yes)
Is the price and therefore your profit or loss on those settlement transactions ultimately determined by the price of the commodity futures market on a future settlement date? (Answer: Yes)
When a participant with a large share of the futures market such as JPM executes large futures market trades to hedge and unwind hedges in its physical and OTC derivative positions, does this sometimes cause a dramatic swing in the futures market price? (Answer: Yes)
Is it fair to say there is a potential moral hazard when your transactions in the futures market can affect the settlement value of other transactions that you know are prearranged to take place, and that this hazard increases dramatically for large market participants? (Answer: Yes)
Given that many commodity futures markets are dominated by a handful of large scale firms such as JPM, is it fair to say that futures market manipulation is potentially a greater threat to the integrity of commodity markets and competitive pricing in those markets than speculation? (Answer: Yes)
Has JPM ever executed trades in the commodity futures market primarily for the purpose of moving the price of those markets? Note that I didn’t ask you to put your hand on a bible; the building manager said it would be a fire hazard. (Answer: I’m not sure I understand your question)
Blythe, is that a horn growing out of your forehead?
"Masters, a Cambridge-educated derivatives expert and avid amateur horse rider, was drafted into commodities from the Chief Financial Officer role in early 2007 after JP Morgan’s first major foray into energy markets went awry."
You know,this looks and feels like a staged interview. The answers came too quickly and were too 'accurate' in a sense that the words appear to have been chosen carefully beforehand.
I was also thinking that, many times the host will ask the guest what they would like to talk about, especially CNBS and TBTF. She definitely wanted to bring up this nonchalantly, let me clear up this absurb notion. Yep, JPM is hurting BIG TIME in SILVA.
Next we will have Bill Clinton pointing his finger at us on national TV saying JPM has never manipulated silver.
I dont know if this little thought experiment would work in practice? Just posted it on my blog:
Pearlsforswine.wordpress.com
How to break paper silver with no risk:
If rumours regarding the manipulation of the silver market by large government related interests (utilizing JP Morgan as a vehicle) are true and if (as is certainly the case) the paper silver market (slv etc.) is run on a fractional reserve basis then it would certainly be possible for a large enough entity, if so interested, to expose these facts (and crash the paper silver market) for essentially no risk.
How might this stupendous feat be achieved you ask. Well in essence the entity (maybe a govenment or bank I don't know, maybe a foreign power such as Iran) would purchase enormous amounts of the metal for physical delivery (enough to test the aforementioned sceptical hypotheses) whilst simultaneously purchasing an off-setting short position in the paper market. The entity would have to insist on physical delivery of course and if the exchange (presumably Comex) could not deliver, well, one would think, that would amount to cornering the market in physical silver and would prevent contracts held by other parties being fulfilled as well. All hell would break loose, no? And if the pressure were to be maintained by the entity concerned it would surely break the paper market ultimately?
How to profit from someone someday doing something like this? Simply mimick their position (long physical short paper) and wait indefinitely. Double win for no risk, no?
"would purchase enormous amounts of the metal for physical delivery (enough to test the aforementioned sceptical hypotheses) whilst simultaneously purchasing an off-setting short position in the paper market. The entity would have to insist on physical delivery of course and if the exchange (presumably Comex) could not deliver, well, one would think, that would amount to cornering the market in physical silver and would prevent contracts held by other parties being fulfilled as well. All hell would break loose, no?"
No, Fail.
Don't get me wrong, I like what you're thinking but the entire nature of the criminal system works to stop this.
#1 you'll pay up front for delivery then it won't happen
#2 you'll pay for hedging by any paper/electronic means and THAT won't be delivered either - counter-party risk is a bitch
See how that works?
If you are the "undesired party" which you can easily become by getting too big a physical delivery position for gold, silver & perhaps some other things, you get many US forces trying to kick your balls in all at once. Too many.
This is where distributed denial of service comes into play.
A lot of people need to get gold & silver and avoid fiat, avoid taxes, across the planet and all at once and KEEP it that way. THAT means we can't all be hit all at once.
The opposing force has POWERFUL but time-sensitive strikes. It can not work if spread too thin and it can not work with too many targets.
Can some good people here please help her update her profile on: http://en.wikipedia.org/wiki/Blythe_Masters
Don't forget to credit her for commodity price manipulations cos it would be wrong not to do it.
I referenced Blythe Masters in an article on "Coin Talk" and got this attack on the site overnight from "Amanda":
Obviously not old enough to recall McCarthy or the Korean War. Please go back to the sewer you came from.Amanda
Read more: http://www.cointalk.com/t205622-2/#ixzz1tv0Os57Z
oh wow, she even has her own web site
http://blythemasters.org/
I guess no one can buy that to say what else she's been up to...
http://bankofamericafraud.com/
Winning! Silver bitchez!
Gucci Outlet Designer, noto per essere il migliore amico delle femmine, sono un'estensione della personalità di una donna,Gucci Borse che danno la sua classe, eleganza e senso dello stile.Il designer migliori e più recenti ispirate borse - Louis Vuitton, Gucci Sito Ufficiale di marca internazionale di design ad una frazione del costo. Sono leggeri, Louis Vuitton Outlet lunga durata e unico per colore, forma e stile. Grande abbastanza da contenere tutti gli elementi essenziali, ma abbastanza piccolo per dare glamour a qualsiasi occassion - sia esso giorno o di sera!Louis Vuitton Borse Sia che preferiate elegante o casual, glamour o minimizzato, si può avere lo stile e la scelta del colore.
What se Borsa Gucci Replica lo Gucci Outlet rendono possibile per voi per permettersi un aspetto elegante,stile di vita di una principessa.Gucci Sito Ufficiale Replica Conservare Online!Le sono perfetti l'ultimo accessorio per ogni vestito.Borse Gucci Se siete stati a morire proprio quella borsetta di lusso o in borsa progettista,Scegli aspetto moderno replica per un assaggio,un'esperienza,un lifestyle.Gucci Borse ora è possibile trovare offerte incredibili sugli accessori di marca Gucci Borse Outlet a prezzi scontati fino al 70% al dettaglio.
Gucci Gucci Bags Outlet is the biggest-selling Italian brand.Will the Gucci Bags 2012 hobo be making a comeback for spring? If Gucci has anything to say about it, the answer is “yes.” Gucci Men AND Ladylike satchels and small crossbody bags have been the currency of the accessories industry for the past several seasons, so much so that Gucci Spring 2012's Gucci Sunglasses 2012 stable of chain-strapped hobos was more than a little surprising to see.Brand New Gucci Shoes Sale!2011 Style gucci outlet,60% OFF.