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Home>GoldWire>Pam and Russ Martens: Fed fears an explosion on Wall Street, and JPM lit the fuse

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Pam and Russ Martens: Fed fears an explosion on Wall Street, and JPM lit the fuse

Chris Powell

GATA

Published : November 08th, 2019

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	JPMorgan Chase is the largest bank in the United States, with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission, since 2013 JPMorgan Chase has spent $77 billion buying back its own stock. That includes the whopping $17.01 billion it has spent in just the first nine months of this year buying back its stock. But here's the shocking news. According to its SEC filings, JPMorgan Chase is partly using federally insured deposits made by moms and pops across the country in its more than 5,000 branches to prop up its share price with buybacks. ... ... For the remainder of the report: https://wallstreetonparade.com/2019/10/the-fe...osion-on-wal... *** * ***

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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