KeithGram: The “Crash JP Morgan” Campaign

It is now the second anniversary of a campaign to “crash” JP Morgan by encouraging people to buy silver (see Max Keiser).  The idea is that JP Morgan has a large naked short position in silver.  If people buy physical silver it will drive the price up and deprive JP Morgan of the metal it [...]

EmailPrintFriendlyShare

JPMorgan and Central Banking

Whenever I struggle with an issue, such as banking regulation and the JPM situation, I find that the eminent Dr. Frank Shostak has already solved the problem. I’ve been thinking a lot about the current banking system and how it perpetuates Too Big To Fail banks. There is a free market solution to the banking system, actually, a [...]

EmailPrintFriendlyShare

KeithGram: JPM Undermines Investor Confidence

JP Morgan Chase has filed a motion to get in front of the line to recover assets from bankrupt MF Global.  At issue are the account holders who had cash in “segregated” accounts, of which $1.2B of this cash is now missing.  One article covering this is here.

Tactically, this may be a brilliant move.  Our justice [...]

EmailPrintFriendlyShare

Inflation: Where Cronyism Meets Poverty

Inflation is built into a monetary system that is designed, so it seems, to help political and financial classes exercise power over ordinary citizens, and to make us pay for the privilege.

As Sir Josiah Stamp, Director of Bank of England (1928 – 1941), said,

If you want to continue to be slaves of the [...]

EmailPrintFriendlyShare

JPM Underperforming as in 2007

 J.P. Morgan Chase (JPM) remains in my what what it was in the Great Depression, which is to say the lordliest of the big banking companies.  In his 1939 book about the so-called Pecora commission titled “Wall Street Under Oath”, Ferdinand Pecora could hardly lay a glove on Morgan (junior), though he dished lots of dirt on some [...]

EmailPrintFriendlyShare

Chase Is At It Again: Moral Hazard In Action

I just received this email advertisement (below) from Chase Mortgage this morning suggesting that I could refinancing my house for more than 125% of its value.

Who can forget Chase’s role in the home mortgage debacle. I recall “Zippy Cheats & Tricks.” I case you don’t recall, the Portland Oregonian uncovered this primer (March 27, 2008) on how [...]

EmailPrintFriendlyShare

Goldman Sachs and Helicopter Ben

Don’t expect a thank you note from Goldman Sachs or any of the other banks that had perfect trading days in Q1. “Perfect” means that they had no days of trading losses for 63 trading days.

Goldman Sachs, which makes more money from sales and trading than any Wall Street firm, reported yesterday that it [...]

EmailPrintFriendlyShare