• GoldCore
    08/05/2015 - 07:32
    'Death of gold' has been greatly exaggerated. It is important to consider gold in local currency terms. In euro, gold is up 2% in 2015, after 13% gain in 2014.

Jamie Dimon

Tyler Durden's picture

"It's Laughable Really": Why No One, Especially Not Jamie Dimon, Will Be Held Accountable For London Whale





"Mr. Martin-Artajo is in Spain, where a court has refused to extradite him, and Mr. Grout is in France, which typically does not extradite its own citizens. Although the investigation in the United States officially remains open, it appears no one, in all likelihood, will be held legally accountable. 'When risky behavior is repeatedly tolerated or concealed, you have to wonder if higher-ranking people should have been targeted.'" 

 
Tyler Durden's picture

Blankfein Joins The Billionaire Bankers' Club





Just a little over a month after we learned that Jamie Dimon recently became a billionaire, Bloomberg reports that yet another TBTF CEO has joined the billionaire banker club and frankly, we’re surprised it took this long because after all, when you’re the CEO of the blood-sucking cephalopod that holds the political and financial fate of the world in its tentacles, it seems only right that you would have been a billionaire long before any other banker on the Street.

 
Tyler Durden's picture

Bank Of America Earnings Rebound On Expense Drop Even As FICC Revenues Slide 9%





If yesterday's JPM results were largely a story of contracting trading revenues offset by a decline in expenses, then in many ways today's Bank of America results mimicked what Jamie Dimon did in the second quarter. Moments ago BofA reported that in a quarter in which it repurchased $775 million in stock, it generated $5.3 billion in net income, or $0.45 per share, above the $0.36 declining consensus estimate as a result of a $1.9 billion drop in non-interest expenses, even as FICC trading revenue tumbled just as it did for JPM and Jefferies, sliding 9% Y/Y, offset by a rise in equity trading courtesy of China.

 
Tyler Durden's picture

Free Willy: FCA Drops Case Against London Whale





Bruno Iksil — better known as “The London Whaleor “Voldemort” or “He Who Must Not Be Named” — carved out his place in the annals of CDX trading history when a tail hedge gone wrong effectively forced him to sell massive amounts of protection on IG.9 back in Q1 of 2012. Even though the bet hedge cost JP Morgan more than $6 billion, the UK's financial "watchdog" has determined that the case against Iksil isn't strong enough to proceed. 

 
Tyler Durden's picture

Citigroup Just Cornered The "Precious Metals" Derivatives Market





What JPMorgan is doing to the "Other" commodities space, Citigroup has just done to the "Precious Metals" derivative market.

 
Tyler Durden's picture

"It's Time To Hold Physical Cash", Fidelity Manager Warns Ahead Of "Systemic Event"





“Systemic risk is in the system [and] we are in uncharted territory. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

 
Tyler Durden's picture

Bank of England Head Carney Says Market Rigging Bankers Should Go To Jail





Mark Carney: "Real markets are essential to guarantee prosperity. Not markets that collapse when there is a shock from abroad. Not markets where transactions occur in chat rooms. Not markets where no one appears accountable for anything."  So... not markets which are artificially rigged by $22 trillion in central bank liquidity and which collapse every time the "threat" that any of this preciously liquidity may be taken away?

 
Tyler Durden's picture

The Real Reason Why There Is No Bond Market Liquidity Left





"Central bank distortions have forced investors into positions they would not have held otherwise, and forced them to be the ‘same way round’ to a much greater extent than previously... unless fundamentals move so as to justify current valuations, when central banks move towards the exit, investors will too.... The way out may not prove so easy; indeed, we are not sure there is any way out at all."

 
Tyler Durden's picture

In These Cities, Jobs Are Plentiful And Housing Is Cheap





If there are two things that are scarce in the US it’s good jobs and affordable housing. But all is not lost, because apparently, there are some places in America where the Goldilocks combination of good jobs and affordable housing actually exists.

 
Tyler Durden's picture

How Jamie Dimon Became A Billionaire





Two years ago, bank analyst Mike Mayo asked JPM chief Jamie Dimon a simple question: why should affluent customers not pick UBS over JPM due to a mismatch in capital ratios, to which Dimon's response was even simpler: "that's why I'm richer than you." To which we then added: "No logic, no rationale: all about the bottom line, which to Jamie at least is all that matters. The bottom line was indeed all, because as Bloomberg calculated overnight, over the past several years, Jamie Dimon quietly became not just "richer than you", but "much" richer: his net worth is now well over $1 billion!

 
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SmartKnowledgeU Podcast #10: Free Your Mind





Welcome to SmartKnowledgeU Podcast #10, Free Your Mind. For many of us, almost every single belief we hold about religion, politics, financial markets, war, law, morality was fed to us by another human being, and not something that we arrived upon from our own path of critical thought.

 
Tyler Durden's picture

Another Decapitator-in-Chief Of America's Working Class





It seems comical, yet ill-omened, how Barack Obama is herding the already decimated middle class along a path sure to reach economic oblivion, while maintaining support from much of the old guard of school-government-trade unionists which has kept the Democratic Party afloat during the last five decades in a conservative sea dominated by currents of old-time religion and misguided patriotism. ISIS’ literal style of decapitation is repugnant and shocking. US’ self-imposed economic decapitation may not appear at first as shocking, but the end result will be as gruesome to America’s working class: not the proletariat of old, but most everyone holding both blue and white collar jobs.

 
Tyler Durden's picture

Russell Napier Explains What's In Store For Gold If Cash Is Outlawed





"If banknotes are outlawed you will be forced to hold money that is a liability of a commercial bank (deposits) and refused access to money that is the liability of the central bank (bank notes)... In such a world, zero-yielding gold would be a high-yielding instrument. If the authorities ever sought to restrict access to banknotes, then gold would suddenly find itself enfranchised as money for the first time in many decades. So, given the scale of these competing forces, it is just too early to say what might happen to the gold price, but the allure of gold will grow the more it becomes clear that central bank fiat has failed and the age of government fiat is dawning."

 
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