This page has been archived and commenting is disabled.
Four Bullet Points Explaining How JPMorgan Doubled Its Money From MF Global's Corpse In Seven Months
Don't read this if you have high blood pressure or if you are a client of MF Global's, whose money is still held by JP Morgan.
- JPMorgan is put on MF Global bankruptcy committee on November 7, 2011
- Two weeks later, JPMorgan buys MF Global's 4.7% in LME for 39 million in a "competitive bidding" process
- 7 months later, on June 15 2012 the LME gets an offer for $2.2 billion from China's HKEX, making JPM's stake worth $103 million
- JPMorgan makes over 100% cash on cash return in 7 months while MFGlobal money is still stuck at JPM.
In the meantime, Jon Corzine was, is and will always be a free man.
* * *
P.S. the topic of why China is buying the world's biggest metals exchange, one which in a lovely harbinger of things to come 2 months ago very symbolically replaced Sterling settlement with Renminbi, is a different matter entirely. One which just may have to do with the fact that domestic Chinese companies have unprecedented stockpiles of everything, pledged as collateral everywhere. Collateral whose prices would be easier to manipulate if one also controlled the exchange where they all trade...
h/t Zach
»
- 45991 reads
- Printer-friendly version
- Send to friend
- advertisements -
That is the same old, but there is new, too:
1) Eastern World CBs stocking up on gold and financial structure to support it (I only contend with your #9)
2) Western World flinging military resources into Asia Pacific
3) Western World socio-political-economic limits maxed in its core
4) Political stalemate on Iran (the oil front), a "defeat" for which the West will not stand (if not by inducement, then by Tonkin)
5) Eastern World unwillingness to trade in U.S. Dollar and guarantees
6) Eastern World socio-political unrest at Western status quo or accelerated corruption
Their survival and success is aided, abetted and in fact even attributable to the existence of sycophantic cocksuckers like yourself.
And I mean that with all due respect and in the best possible way.
Now go back to your NAMBLA conference.
Something has changed. Gold is $400+ higher from when you were panic selling and screaming " it's going to crash! My guru told me"
Fade.
the end must be near because I find myself agreeing with Robo.
Fuck JPM.
i still can't bear to look and i see you've changed L0L!!!
i just realized >--> slewienomics indicates: $40 = weekly snap
plato sed ther'd be daze like this...
Yeah someone upthread posted the link.
Lizzy's pony is at 1:40-1:44 in your video.
wish it were my video
koalajane made it here OneTrueMedia
her self-portait is quite something...
The collapse is on. Markets to the moon. It's on. Now I'm getting, "Jesus Christ is Lord" advertisements. The camel toe has given way to the spirit of the crusades. Down with NWO banksters.
When China starts buying exchanges...it's time to get out of this game.
They are about as transparent as a glory hole.
As far as the JPM/MF Global fiasco...forget the notion of ever seeing any "legal justice". The best we can hope for is that Corzine and Dimon and others of their ilk can never walk the streets of any city on earth ever again without a very real and justifiable concern that somebody is about to pop a cap in their ass...and we can only hope that day arrives.
Alien,
please help me with specifics...are you saying we should get out of the au-ag game? Or...
And the 'game' has been above board under the leadership of the current shareholders of the LME, right? In any case, if you are still in the paper 'game', as you claim, then you still probably don't get it if you're not in physical by now.
Anyhow, 'China' isn't buying anything. Hong Kong Exchanges and Clearing is a listed company in HK, nothing to do with mainland China. Almost half the directors of the HKex are Westerners, aussies, brits etc. It could even be a positive because public shareholders - that could be you - can have a say in how things are done, demand to see audit reports etc.
And just to add, the LME doesn't trade gold or silver, so the garbled, innacurate thought process that 'China' is somehow buying London's gold trading exchange is just wrong.
"Whenever the legislators endeavor to take away and destroy the property of the people, or to reduce them to slavery under arbitrary power, they put themselves into a state of war with the people, who are thereupon absolved from any further obedience."
~ John Locke 1690
"Absolute power corrupts absolutely" arose as part of a quotation by the expansively named and impressively hirsute John Emerich Edward Dalberg Acton, first Baron Acton (1834–1902). The historian and moralist, who was otherwise known simply as Lord Acton, expressed this opinion in a letter to Bishop Mandell Creighton in 1887:
wow your avatar takes me back to when I was 13, with a copy under the bed.
Lord Acton also said "eventually the people will have to go to war with the banks". That pretty much sums it up IMO
It is not a conspiracy, dumber and dumber, it is insider trading!!
double-post
Keep posting man. Love seeing your avatar!
my blood pressures up... i got a migraine... my eyes are twitching... and my ass is sore,...
as oliver hardy mawkishly quips to stan laurel - 'well, that's another fine mess you've gotten me into.--- classic Kafkaesque`situation!
It smells like the "market" is going to have a co-manager.
Own the exchange, front-run, manipulate and own the market.
Fraud Inc.
"Record bonuses since 2008"
That was a very astute comment! I bought (gbp) long everything going into London yesterday. I squared up earlier.
I got my ass handed to me on those tape bombs wed-thu. I barely broke even, and let's not discuss " sweat equity"!
Goodbye, Tyler, ZH,
Thanks for the exhaust manifold.
what a show! the techie bounce off 82 and 1.25...everything goes mildly to risk0ff and then?
special delivery from mrBenzelbub
I almost thought I cared until I had a look at a picture of what goes on at the LME and realized it's an open outcry floor and what that means is that the HKEx has bought an outmoded business that will go the way of the horse and buggy and using donkey labor to farm.
From Bloomberg "host to London’s last open-outcry trading". Well there's a reason why it's London's last open-outcry market! So I say let the Chinese have at it. GOOD LUCK and SOLD TO YOU!
Time for folks whose monies were siezed by MFGlobal/JPMorgan to hire the US Seals and take revenge.
MFG sends big Banksters money.
Big Banksters go CYA and send MFG a form to sign stating money is legit.
MFG balks at signing form.
Big Banksters send another form because they can't accept illegitimate funds.
MFG balks at signing form.
Form is never signed but somehow, even though Big Banksters insisted on a signed form before keeping the money, Big Banksters keep money. And the band played on.........
MFGlobal is an organized crime scene.
Thrise, times it was read , Tyler! can I walk to the " LIQUOR STORE" now?
I love the " Ocean View".
I was just thinking
Jamie Dimon has a full head of hair
maybe the correct Congressional reponse to
his visit the other day should have been:
'Mohawk that guy!'
http://www.youtube.com/watch?v=sToQzWUgm2o [music by Bad Brains 'Pay to Cum']
...
in your mind's eye replace Griffin Dunne's head with Jamie Dimon's head .... Sweet Revenge!!!
I never understood the commingling/segregated issue. I always felt it was like being a little bit pregnant.... Now, perhaps they had the right to rehypothecate based on the asset,but I have read where customer accounts were supposed to be sacred.The real drama everyone missed is when the exchange refused/welched on reimbursing the customers.I was very surprised when the ISDA paid out over Greece.I guess they had to pay or the whole hedge/derivative pony show would have collapsed right there.But I totally agree with the ZH'rs on this: these people are evil.Still,looks like payback time is coming....My only fear is they do a Falklands/Malvinas thing,"look over there!" scenario. I still haven't gotten over the LBJ "Tonkin Gulf" thingy. Everyone jumps to attention when you question their patriotism,or whether they have a "pair" swinging...
crime pays, don't it jon?
Who even gives a shit anymore.
I CAre? > when you finish tying your " shoe laces"! i EFFIN Kare!
Capital3x forex portfolio and futures performance:
http://capital3x.com/think-tank/performance-for-week-16-june-2012-are-we...
ONE WORD:
yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaayyyy !!!
Yaaa.monnn!
Well our firm sold all 24 million shares of our JPM today. We sold them too the retail suckers during todays pump. So we will be getting them back shortly. Those suckers, we are the big boys. Our supercomputer on the third floor once again predicted every market move and stock tick.
KarlGDenninger i respect your honesty.
The CE? , drives a old " Lexus" The Ltd../LLp. scapegoat game?
Just Kidding. It's ok old "CFO". Your kids are going to college.
I personally made 500 million dollars from the housing collapse. Thank you.
Sweet. Would I imposition you for a (200 m) hanger deal for my new { G-650}?
I yearn for the day when I wake up, power up the laptop, click ZH, and read this headline
"John Corzine shot dead outside his home"
Justice bitchez, oh its a comin.
Thank You! That [iece of ]hit! Corzine is being " HUNTED"!
Jhon Corzine, is my " DELTA"
...let me get this straight. Your account is held in contempt and Homeland Security requires foreclosure of the American dream.
Umm, Mr. Dimon and Mr. Rosemary's Baby AKA POTUS, one is an Antichrist (letter of the law, lol) and the other claims the Bride of Christ is a Drag Queen? ...and June 2012 is Gay Pride Month for the U.S. Military? ...and the Bible is a threat to national security?
http://www.timesofisrael.com/pentagon-makes-june-gay-pride-month/
http://radio.foxnews.com/toddstarnes/top-stories/group-calls-military-bibles-threat-to-national-security.html
...prophetic. http://www.biblegateway.com/passage/?search=Matthew+24%3A37-39&version=KJV http://www.newswithviews.com/Horn/thomas128.htm
http://www.zerohedge.com/article/light-secs-pornography-fetish-revalations-bill-singer-proposes-simple-sop-checklist
http://www.zerohedge.com/article/sec-government-destroyed-documents-regarding-pre-911-put-options
I can see it now, a Rainbow Flag next to Old Glory on top of the Pentagon, right over where Old Glory was draped over the accounting section the day after the Director of Defense declared $ 2.4 Trillion of DOD money is unaccounted for the day before a ''hole'' (LMAO) was made in that section of the Pentagon.
...do you have the feeling something ain't right with this picture? Lol. Kinda like; looking in a mirror and seeing the result of a man and a woman but, not seeing the image of your claim of dominion ...and you can't ''account'' for the black hole. LMAO. http://www.youtube.com/watch?v=TWHOIowtzXA
...how, umm, UNCONSTITUTIONAL!!!
P.S. Mr. Down Arrow, AKA Nimod, is that you crying Jamie? ...or is it you Mystery POTUS? Lol.
Wow, Control the printing presses and the exchanges. What more does one need?
Inthemix96,
Surely its just a matter of time before some ex-spook/SF boys do what society requires. Surely there are a few patriots left.
Silverdragon,
I do fucking hope so. If not, it will be people that are like minded and on the same jive as me who will.
I have had enough, and I know far to many people who feel the same. Rage doesnt even describe it mate. Fury cannot come close. This game must be close to finish.
Take care, dont let the bastards grind you down.
P.S. the topic of why China is buying the world's biggest metals exchange, one which in a lovely harbinger of things to come 2 months ago very symbolically replaced Sterling settlement with Renminbi, is a different matter entirely. One which just may have to do with the fact that domestic Chinese companies have unprecedented stockpiles of everything, pledged as collateral everywhere. Collateral whose prices would be easier to manipulate if one also controlled the exchange where they all trade...
....may be this is interesting:
http://dont-tread-on.me/?p=4119
http://www.youtube.com/watch?feature=player_embedded&v=3xg0099u4z8
...yes, thank you. Very interesting.
http://www.youtube.com/watch?v=UrYjni0Y9NA
http://www.youtube.com/watch?v=bwylCWDJONI
TGR
Exactly, David Webb was a Director of HKEX and he was a child math prodigy from Cambridge University who owns a decent stake in half a dozen HK listed companies hardly "a commie"
Yep...as mentioned, it actually could be a positive thing for the exchange as transparency in theory should increase given shareholders have the right to all the financial info on the books.
But the LME doesn't even trade gold or silver, so not sure why people are crossing their wires and making some erroneous connection to au and ag.
Nice Try Rob Horne
I paid taxes and "fees" in one form or another all of my life. Worked over 45 years, made mistakes, did stupid things, which cost me everything more than once.
Then there is lady luck who does not find me attractive anymore and neither does anyone else. My son told me, "Dad you are too old, you're unemployable."
I look at myself, can still walk, talk and think, but now am wondering how to provide food and shelter for my wife. There are no outstretched hands offering coin.
Then I read shit like this and about the stuff in Europe, realize their are 900 million going hungry in India alone and I will be one of them very shortly. I think of the CEO pocketing millions for fucking up. No one gave me millions, they just took away.
I don't want much, a fighting chance and maybe a refund for all those government services I paid into which are not available to me as I am to "young" to collect, too old to get work and to fucking poor to make a difference.
When Obama was elected they spent $150 million on a party, since then the Nobel Peace Prize winner has been sending kill orders to the Middle East and now the CIA, a tax payer funded organization is stirring up shit in Africa.
How many people can the cost of a drone feed?
And the assholes have the nerve to call themselves Christian. Jesus would have shook his head and walked away from the farce that is today. "Love thy neighbor" he said. "give if he asks and don't judge."
I'm not judging, I'm telling it like it is. The parasites, hypocrites and lawyers have taken over and they are winning, for now. Am I angry, no. Just disappointed in myself for not trying to change the madhouse that is the world when I had more tools to do it with.
Cherrypicker,
I hear exactly what your saying mate. Why should you do the right thing and people who provide no worth at all, get away with robbing the rest of us? Dont worry though, as I have said many times before here, the internet has changed everything.
And here, your not to old, your never to old till your body says no. By the sounds of it I am a little bit younger than you, and I am well pissed off. I live in the north of England and my chancellor has just announced another 140 billion pounds for the fuckers who have put us in the position we are now. Dont worry mate, these fuckers have got to worry about people like me, same if your American. We are waking up, god help the bastards when enough have.
I wish you well mate, heart felt words I had to reply to. Who knows? We will win this though. Fucked off fuckers like me will see to that. And to TPTB, there are way too many of us to take down. Remember that, pick your sides you fucking cunts, time is short, make sure you are doing the right thing fuckers. Prepare accordingly
..at some point it's up to the sheep to decide they're no longer giving up any more fleece.
The banksters rape the sheeple and those of us that could do something just sit and watch and wait.
Rally warning continues...
SPX bullish daily chart strengthened further on Friday & more rally expected.
DOW initial target approx 13,170 & more upside after that.
MORE:
http://www.zerohedge.com/news/2012-12-24/market-analysis