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 | Chris Powell - GATA |
| U.S. bank derivatives books larger since rescue of Bear Stearns |
| At the end of January 2008, in what would turn out to be its final annual report, Bear Stearns went into some detail about its big book of derivatives. The book had a notional value of $13.4 trillion at the end of November, Bear said, up more than 50 percent from a year earlier. A two-notch downgrade in the firm's credit ratings, it added, would require it to come up with an extra $353m in collateral.
This huge cluster of financial instruments -- swaps, futures, forwards, and options -- may not Sunday, March 18, 2018 |
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| Chris Powell - GATA |
| Whistle-blower got $30 million for exposing JPMorganChase |
| JPMorgan Chase & Co.'s failure to properly inform some rich clients about conflicts of interest has resulted in a record $30 million whistle-blower award by U.S. futures regulators.
The Commodity Futures Trading Commission will pay out that amount for tips received in the case, in which the bank didn't properly disclose that it was steering asset-management customers into investments that would be profitable for the bank, according to a person familiar with the matter.
JPMorgan agreed in DecembeFriday, February 16, 2018 |
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| Chris Powell - GATA |
| Bitcoin ban expands across credit cards as big U.S. banks recoil |
| A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife.
JPMorgan Chase & Co., Bank of America Corp., and Citigroup Inc. said they're halting purchases of bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban today, doesn't want the credit risk associated with the transactions, company spokeswoman Mary Jane Rogers said.
Bank of America started declining credit card transactions with known crypto exchanges on Friday. Tuesday, February 6, 2018 |
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| Chris Powell - GATA |
| Dimon called bitcoin a fraud but JPMorgan is quoting prices |
| JPMorgan Chase & Co.'s chief executive, Jamie Dimon, famously panned bitcoin. But his bank's clients apparently aren't ready to dismiss it as a "fraud."
The Wall Street firm's widely followed morning markets note highlights the spot price for the cryptocurrency. There it sits, right below a rundown of commodities and above the 10-year Treasury yield -- hardly fringe assets. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2017-10-06/dimon-called-bitcoin-...Monday, October 9, 2017 |
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| Sprott Money |
 Jamie Dimon Speaks Out Against “Money From Thin Air” - Rory Hall |
| If ever there was person that knows and understands fraud, money for
nothing and crimes against humanity it would be Jamie Dimon, President,
JPMorgan Chase. Under Dimon’s watchful eye, the banksters organization
has paid fines – which is to say been found guilty of crimes – for
rigging the LIBOR market (fraud), drug money laundering (crimes against humanity) and rigging the FOREX currency market (both crime against humanity and fraud). Now Dimon wants to share his wisdom about bitcoin and cWednesday, September 27, 2017 |
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 | Rory Hall - Sprott Money |
| Jamie Dimon Speaks Out Against “Money From Thin Air” - Rory Hall |
| If ever there was person that knows and understands fraud, money for
nothing and crimes against humanity it would be Jamie Dimon, President,
JPMorgan Chase. Under Dimon’s watchful eye, the banksters organization
has paid fines – which is to say been found guilty of crimes – for
rigging the LIBOR market (fraud), drug money laundering (crimes against humanity) and rigging the FOREX currency market (both crime against humanity and fraud). Now Dimon wants to share his wisdom about bitcoin and cTuesday, September 26, 2017 |
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| Chris Powell - GATA |
| Noah Smith: Digital currencies won't kill the dollar but still may change the world |
| Jamie Dimon, the CEO of JPMorgan Chase & Co., recently slammed bitcoin in no uncertain terms: It "won't end well," he said, calling the cryptocurrency a "fraud" and "worse than tulip bulbs."
Is Dimon right? It depends. In at least two important ways, bitcoin and other cryptocurrencies will probably fail to achieve the dreams of their creators and enthusiasts. They are unlikely to usher in a hard-money revolution, and are also unlikely to supplant national fiat currencies as the standard means ofFriday, September 15, 2017 |
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 | Mish - Global Economic Analysis |
| “Bad Options” Regarding 2 Inflation Targets (And Other Silly Notions) |
| The Wall Street Journal and Bloomberg both posted ridiculous articles regarding today regarding inflation.
The former was on “bad options” the latter on “inflation expectations”.
Let’s take a look at both articles because both represent widely believed nonsense.
In Bad Options for Addressing Too-Low Inflation, Wall Street Journal writer Greg Ip says the Fed’s choice is to overheat the economy or give up its 2% target.
Unemployment and inflation are near their lowest levels in decades. Who wouldFriday, September 15, 2017 |
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 | Jason Hamlin - Gold Stock Bull |
| Upcoming Bitcoin SegWit Deadline, Ethereum Falls, and Tierion ICO |
| What Is SegWit2x and How will it Change Bitcoin?
The upcoming SegWit activation deadline on August 1st is expected to cause more volatility in the price price action for Bitcoin. However, it remains to be seen in which direction it will trend. But what exactly is SegWit and what does it mean for you?
The start of this scaling debate started years ago. In order to protect from cyber attacks, Bitcoin was designed to cap the amount of information on its network. That puts a ceiling on how many tranSaturday, July 15, 2017 |
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| Mish - Global Economic Analysis |
| U.S. Deposit Drain Coming Up Merge Before It’s Too Late |
| J.P. Morgan is offering regional banks some interesting advice: Partner Up as U.S. Deposit Drain Looms.
JPMorgan Chase & Co. has some advice for regional banks: A deposit drain is coming, so merge while you can.
The company’s investment bankers are warning depository clients that they may begin feeling the crunch in December, thanks to a byproduct of how the U.S. Federal Reserve propped up the economy after the financial crisis, according to a copy of a confidential presentation obtained by BloTuesday, May 9, 2017 |
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 | Ronan Manly - Bullion Star |
| More Bad News for the LBMA Silver Price, but an Opportunity for Overhaul |
| On Friday 3 March 2017, in a surprise announcement with implications for the global silver market, the London Bullion Market Association (LBMA) informed its members that the current administrator and calculation agent of its recently launched LBMA Silver Price auction, Thomson Reuters and the CME Group respectively, will be pulling out of providing their services to the problematic London-based silver price benchmark within the near future. Thomson Reuters and the CME Group issued identical statWednesday, March 8, 2017 |
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| Chris Powell - GATA |
| JPMorgan, HSBC among dozen banks facing fines for rigging S. African rand |
| South Africa's antitrust investigators have urged that a dozen banks be fined for colluding and manipulating trades in the rand, potentially becoming the latest in a string of penalties handed to lenders around the world for rigging currencies.
South African's Competition Commission identified lenders including Bank of America Merrill Lynch, HSBC Holdings Plc, BNP Paribas SA, Credit Suisse Group AG, HSBC Holdings Plc, JPMorgan Chase & Co., and Nomura Holdings Inc. as among those that participateTuesday, February 21, 2017 |
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 | Jeff Clark - Goldsilver |
| Here’s Proof That Investors Run to Gold When Fear Is High |
| The anxiety in Europe has been slowly building. Last week the lid blew off.As you probably know, Europeans have been grappling with a number of issues…• Many stock markets have been teetering.• The strategy for implementing Brexit remains confusing and unresolved.• The popularity of anti-establishment politicians running in upcoming elections in Germany, France, and the Netherlands is growing.Throw in all the debt that continues to weigh heavily on virtually every country in Europe and you haveThursday, February 2, 2017 |
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 | John Browne - Euro Pacific Capital |
| Italy's Bank Rescue Foreshadows Nationalization of More EU Banks |
| On December 7, 2016, Italy's Prime Minister Matteo Renzi resigned following defeat in a national referendum, that he had supported, that would have changed the country's parliamentary system. The development, which represents just the latest sign of anti-EU sentiment spreading throughout Europe, was felt acutely by Italy's troubled banking sector. In particular, the Banca Monte dei Paschi di Siena (MdP) has been teetering on the brink of collapse and now may stand as a case study that may be encThursday, January 26, 2017 |
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| Chris Powell - GATA |
| FX 'cartel' traders said to face U.S. rigging charges |
| Prosecutors are poised to charge the currency traders at the heart of one of the biggest U.S. market-rigging investigations, according to people familiar with the matter.
The imminent criminal charges are against members of "The Cartel" chat group, the people said. These traders used instant messages to coordinate the rigging of foreign-exchange benchmarks by sharing confidential customer information, prosecutors have said in antitrust cases that led to guilty pleas by five banks in 2015.
The seTuesday, January 10, 2017 |
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| Chris Powell - GATA |
| Seven banks fined in Swiss probes of rate-rigging cartels |
| Switzerland handed out about $100 million in antitrust fines against seven U.S. and European banks for participating in cartels to manipulate widely used financial benchmarks.
JPMorgan Chase & Co. was fined 33.9 million francs ($33 million) for operating a cartel with Royal Bank of Scotland Group for more than a year, with the aim of influencing the Swiss franc Libor benchmark, which is tied to the London interbank offered rate, Switzerland's competition commission said in a statement Wednesday.Wednesday, December 21, 2016 |
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| Chris Powell - GATA |
| Finance titans face off over $5 trillion London gold market |
| Some of the biggest names in finance are fighting for control of the London gold market -- a $5 trillion, three-century-old trading hub that is being forced to adapt to a digital age.
As the London Bullion Market Association revamps over-the-counter trades that are the market's major pricing benchmark, new ways of buying and selling precious metals are set to start next year from CME Group Inc., Intercontinental Exchange Inc., and the London Metal Exchange. Some big banks have stakes in the outcThursday, December 15, 2016 |
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| John Browne - Euro Pacific Capital |
| War on Cash Spreads to India |
| Over the past year, central banks, commercial bankers and prominent economists have expressed the view that digital money and transfers should replace large denomination cash and cash transactions. This dramatic transition has been fostered under the guise of the public interest in an effort to curb terrorism, tax evasion and criminal activity. Many observers contemplate more sinister motives that involve increased government control of economic activity. The latest country to engage in this 'waWednesday, December 14, 2016 |
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| Mish - Global Economic Analysis |
| Exit Stage 3 Delayed; Another Technocrat; Bank Bailout Coming; What About Beppe Grillo |
| Italy’s president, Sergio Mattarella, asked Renzi to stay on as prime minister. Renzi agreed to do so until a budget is in place, likely later this week.
The vast majority of the population wants an immediate election, but Mattarella wants another technocrat. Voter be damned, Italy’s 4th consecutive technocrat prime minister is coming up. I am available, and waiting a call.
The first mission of the new technocrat will be to pass legislation that will make it much harder for Beppe Grillo’s Five Tuesday, December 6, 2016 |
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| USA GOLD - USA Gold |
| Dollar Posts Longest Losing Streak Since July on Election Angst |
| 03-Nov (Bloomberg) — The dollar weakened for a fifth day, its longest stretch of losses in four months, and a gauge of currency volatility rose to near the highest in two months amid mounting anxiety over the outcome of the U.S. presidential election.
A JPMorgan Chase & Co. index of global currency swings rose to 10.39 Wednesday, the highest level since Sept. 14, as the race for the White House between Democratic nominee Hillary Clinton and Republican candidate Donald Trump tightened less than aFriday, November 4, 2016 |
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