‘Houston, You Have A Problem’ – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns

oil jobs manhattan institute

“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns (ZeroHedge, Dec 21, 2014):

It was back in August 2013, when there was nothing but clear skies ahead of the US shale industry that we asked “How Much Is Oil Supporting U.S. Employment Gains?” The answer we gave:

The American Petroleum Institute said last week the U.S. oil and natural gas sector was an engine driving job growth. Eight percent of the U.S. economy is supported by the energy sector, the industry’s lobbying group said, up from the 7.7 percent recorded the last time the API examined the issue. The employment assessment came as the Energy Department said oil and gas production continued to make gains across the board. With the right energy policies in place, API said the economy could grow even more. But with oil and gas production already at record levels, the narrative over the jobs prospects may be failing on its own accord…. The API’s report said each of the direct jobs in the oil and natural gas industry translated to 2.8 jobs in other sectors of the U.S. economy. That in turn translates to a total impact on U.S. gross domestic product of $1.2 trillion, the study found.

Two weeks ago we followed up with an article looking at “Jobs: Shale States vs Non-Shale States” in which we showed the following chart:

Read more‘Houston, You Have A Problem’ – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns

How JPMorgan Rushed To Hire Trader Because He Knew How To Rig The Electricity-Markets

OliverTwist
A JPMorgan Employee Uses a Photo of Oliver Twist to Joke in an Email About How His Group Is Manipulating Electric Markets in California.

JPMorgan Rushed to Hire Trader Who Suggested on His Resume That He Knew How to Game Electric Markets (Wall Street On Parade, Dec 3, 2014):

On April 29, 2010 at 7:47 in the evening, Francis Dunleavy, the head of Principal Investing within the JPMorgan Commodities Group fired off a terse email to a colleague, Rob Cauthen. The email read: “Please get him in ASAP.”

The man that Dunleavy wanted to be interviewed “ASAP” was John Howard Bartholomew, a young man who had just obtained his law degree from George Washington University two years prior. But it wasn’t his law degree that Bartholomew decided to feature at the very top of the resume he sent to JPMorgan; it was the fact that while working at Southern California Edison in Power Procurement, he had “identified a flaw in the market mechanism Bid Cost Recovery that is causing the CAISO [the California grid operator] to misallocate millions of dollars.” Bartholomew goes on to brag in his resume that he had “showed how units in reliability areas can increase profits by 400%.”

Read moreHow JPMorgan Rushed To Hire Trader Because He Knew How To Rig The Electricity-Markets

Global News Update: Nov 22, 2014

Obamas Historic Immigration Decree

Obama the tyrant king unleashes dictatorial order that will now invoke “open rebellion” – Senate aide:

With the stroke of a pen, President Obama has now set America on the path toward open rebellion and revolt. By declaring that he alone has the right to dictate immigration policy without the legislative approval of Congress, he has committed yet another lawless act in a long series of illegal schemes that cement his position in history as nothing more than a sociopathic liar and destroyer of nations.

me-the-people-obama
Source: Artizans.com

Obama extends deportation reprieve to 5 million undocumented immigrants:

President Barack Obama announced an executive order on immigration reform Thursday, which he will sign on Friday. The actions will affect up to 5 million undocumented immigrants in the US, many of whom are the parents or spouses of legal residents.

Obama announced his plan for unilateral action on immigration via a prime-time address from the White House. He will sign the executive order during a rally in Las Vegas on Friday. Because the plan will not be passed by Congress, it could also be easily reversed by a new president after Obama’s term runs out in just over two years.

The-Obamas-left-hand

“Accidental discharge”…:

Sure!

The FBI Is Very Excited About This Machine That Can Scan Your DNA in 90 Minutes

The FBI Is Very Excited About This Machine That Can Scan Your DNA in 90 Minutes:

Rapid-DNA technology makes it easier than ever to grab and store your genetic profile. G-men, cops, and Homeland Security can’t wait to see it everywhere.

obama-fraud

Least Transparent Ever – Obama Administration Fighting to Prevent Release of C.I.A. Torture Report:

His latest intervention on behalf of the forces of opacity, revolves around the release of a report on CI.A. torture put together by The Senate Intelligence Committee, which is 6,000 pages long and has been five years in the making. Naturally, the Obama Administration is taking painstaking efforts to block its release.

Gold Repatriation Stunner: Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed:

A week ago, we penned “The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed“, in which we got, for the first time ever, an admission by an official source, namely the bank that knows everything that takes place in Germany – Deutsche Bank – what the real reason was for Germany’s gold repatriation halt after obtaining a meager 5 tons from the NY Fed:

… the gold community paid great attention to the decision of the German Bundesbank to “bring German gold home”. At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties. Yet diplomatic difficulties are more likely to be the chief cause of the delay, especially seeing as the Bundesbank has proven its capacity to organise large-scale gold transports. In the early 2000s, the Bundesbank incrementally repatriated 930 tonnes of German gold held by the Bank of England.

Some took offense with this, pointing out, accurately, that the gold held at the NY Fed in deposit form for foreign institutions had continued to decline into 2014 despite the alleged German halt. Well, today we know the answer: it wasn’t Germany who was secretly withdrawing gold from the NYFed contrary to what it had publicly disclosed.  

It was the Netherlands.

jpm
Rothschild agent

“Gold Is Money And Nothing Else” – JP Morgan’s Full December 1912 Testimony To Congress:

In December 1912, no lessor man than J.P.Morgan testified to Congress to “justify Wall Street,” during investigations over alleged manipulation and collusion. The transcript reads like it could have been given yesterday (as nothing ever changes) but at its heart the banker laid out 33 “Morgan Epigrams” which appear – in the ensuing 102 years – have been lost to greed and arrogance… The irony is wondrous: “Securities do not always prove good”, “Money is gold, and nothing else”, “I think manipulation is always bad.”

roundup-the-ultimate-killing-machine

12 Charts Show Connection Between Roundup and Disease:

Roundup is found in 75% of air and water samples.  Many farmers drench crops with Roundup right before harvest. About 100 million pounds are applied to U.S. farms and lawns every year, according to the EPA.

Monsanto claims that Roundup is totally safe, and can be dumped on everything without problem.

Is it true?

In reality, Roundup is linked to a number of diseases. And the ingredients in Roundup are deadly to human cells.

A study from the Journal of Organic Systems includes the following 12 charts which show the correlation between Roundup (technically known as “glyphosate”) and disease:

CIA wants to delete thousands of emails as Obama administration stalls release of torture report:

The CIA wants to erase tens of thousands of internal emails sent by most covert and counterterror officers after they leave the agency, leading US senators and transparency advocates to fear the plan would mean the loss of vital government records.

10 Examples Of The Social Decay That Is Eating Away At America Like Cancer:

It isn’t just our economy that is crumbling.  Something is happening to America that no amount of money will be able to fix.  Everywhere around us we can see evidence of the social decay that is systematically eating away at the foundations of our society.

Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash:

The impossible is possible. Never say never. Wall Street bankers are staring agog at headlines coming from Europe where, in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time. As Valuewalk reports, in receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. It appears he was as shocked by the verdict as Wall Street-ers are, “this sentence is a big surprise to me as I did nothing wrong.” It was likely all for the people’s own good…

Europe’s New Scariest Chart:

Recent polls show pro-default parties growing popular in peripheral euro-area countries such as Greece, Italy and Spain. As Bloomberg Brief’s Maxime Sbaihi notes, in a depressed economic environment, their promises to restructure public debt might soon bring them to power and tempt traditional parties to adopt their ideas. This return of political risk in the euro area doesn’t appear to be priced in by market participants. As Italy’s Beppe Grillo recently exclaimed, “we will leave the Euro and bring down this system of bankers, of scum.”

20141120_poll

FYI:

‘AIDS, Ebola, Obama – Thanks Africa’ roadside sign causes a stir in Nebraska:

A homemade sign proclaiming “AIDS, Ebola, Obama – Thanks Africa” caused a commotion in the town of Minden, Nebraska this week after a local man drew the ire of area residents when he erected it on his own property.

A “little” late:

Charles Schwab Urges The Fed To Raise Interest Rates “As Quickly As Possible”:

Authored by Charles Schwab (yes, that Charles Schwab), originally posted op-ed at The Wall Street Journal,

For America’s 44 million senior citizens, plus tens of millions of others who are on the threshold of retirement, last month marked a watershed moment that is worth celebrating. At the end of October, the Federal Reserve announced the first step in returning to a more normal monetary policy. After nearly six years of near-zero interest rates and quantitative easing, the Fed is ending its bond-buying program and has signaled a plan to eventually begin raising the federal-funds rate, raising interest rates to more normal levels by 2017.

U.S. households lost billions in interest income during the Fed’s near-zero interest rate experiment.

Jerusalem mayor: Revoke citizenship for terrorists’ families:

The mayor of Jerusalem has called on Israeli authorities to revoke the citizenship of family members of terrorists. This proposal was made in response to growing tensions between Palestinians and Israelis.

40,000 to 60,000 tons of sulphur dioxide spewing out of Bárðarbunga volcano per DAY:

A few days ago I posted an article saying that Iceland’s Bardarbunga volcano was pumping out 35,000 tons of sulphur dioxide per day, more than twice the amount spewed from all of Europe’s smokestacks.

Turns out that it’s even worse than that.

According to the Icelandic National Broadcasting Service, RUV, some 40,000 to 60,000 tons […]

TV: US nuclear workers’ brains eaten away, hallucinating, mental capacity of preschooler — Wife films frightened, trembling husband on deathbed — It’s indescribable what they’ve done and they don’t care — They want you to die — Gov’t Experts: It’s allergies from cats or feathers… or B-12 deficiency — Doctor: Quit helping workers get help (VIDEO):

KING 5 News, Oct 14, 2014: Gary Sall… [worked at Hanford] for 28 years… 10 years ago… his brain function got worse and worse. Within 5 years he… could barely speak, hallucinated, and operated on the level of a 4-year-old… Doctors diagnosed him with work-related toxic encephalopathy, a degenerative brain disorder… [His wife] Barb documented the suffering in a difficult to watch video taken in 2011… in a hospital bed, trembling and frightened and on a feeding tube… The DOE’s insurer wrote that not Hanford, but alcohol consumption or a B-12 deficiency could be making him sick… He died 3 years ago at the age of 57.

Twice as much Fukushima radiation near California coast than originally reported; Highest levels found anywhere in Eastern Pacific — Scientist: Very little we can do… It’s unprecedented… God forbid anything else happens — Gundersen: Multiple plumes now along west coast… Will be coming “for century or more” (AUDIO)

Ice forces earliest closure EVER of upper Mississippi:

Halts shipments of corn, soybeans, wheat, fertilizer, salt and other goods from the most northern reaches of the nation’s busiest waterway.

New York State officials – Things will only get worse:

Another three feet (1 meter) of snow forecast for Buffalo.

Buffalo – 30 major roof collapses, 100 minor collapses:

More collapses expected. Homeowners and store employees scrambling to remove the snow before rainfall adds even more weight to overloaded roofs.

FYI:

‘We will hunt you down’: KKK threatens to shoot Anonymous ‘n***** lovers’:

A bitter war of words between hacker collective Anonymous and the Klu Klux Klan risks spilling over into real violence, with the right-wing hate group allegedly threatening to shoot dead activists wearing the Guy Fawkes mask in southern Missouri.

Obesity price tag: $2trn annually and ‘rapidly getting worse’:

Around 30 percent of the world’s population is now obese, while 50 percent is expected to fall into the category by 2030. Meanwhile, 5 percent of global deaths each year are linked to the condition, creating a drag on the global economy.

Stocks Close At Recordest Highs As All Central Banks Go All In:

Despite the knee-trembling awesomeness of a double-whammy promise of liquidity, US equity markets ended the week on a decidedly down note. The realization that Draghi’s all talk (no impact on US stocks) and PBOC’s move is not a liquidity surge and has limited impact on the economy left stocks tumbling once the opening OPEX levels had printed. The USD rose notably on the day after EUR plunged under 1.24 on Draghi (USD +0.9% on the week). Despite USD strength, gold rose 1% (as did Silver) on the week, rising for the 3rd week in a row for the first time in 4 months (and the 3rd Friday surge in a row). Oil rose 1% on the week, breaking an 8-week losing streak but Copper prices fell around 0.3% on the week, having given back the kneejerk gains post-PBOC today. Treasury yields dropped after kneejerking higher on PBOC. 30Y at 3.01% had its 2nd lowest weekly close since May 2013. VIX melted down into the close to 13.01. Late-day buying panic lifts stocks off their lows leaving Dow & S&P at all-time recordest highs of all-time ever in history (as small caps closed red).

NO ONE TOLD YOU WHEN TO RUN, YOU MISSED THE STARTING GUN:

I stumbled across two mind blowing charts yesterday that had me pondering how generations of Americans had frittered their lives away, spending money they didn’t have  on things they didn’t need, utilizing easy to acquire debt, and saving virtually nothing for their futures or a rainy day. We are a nation of Peter Pans who never grew up. While I was driving home from work, one of my favorite Pink Floyd tunes came on the radio and the lyrics to Time seemed to fit perfectly with the charts I had just discovered.

– HFT War Stories: The Algo that Couldn’t Count:

This is the first in MKTSTK’sHFT War Stories series. Submitted anonymously by a high frequency trader. Names of people, places, and products have been omitted:

Algo trading has a way of making your hair turn white. Sometimes it’s the wild market action. The response then is to cut risk and keep on trading. The big losses come from avoidable human errors. Those are the losses you might not come back from.

The trading world is increasingly automated. Every year there are fewer human eyes watching the market at any given time. Traders employ algorithms to cut latency and market impact. Dealers find automation indispensable in quoting thousands of different exchange traded derivatives.

Russia Can Survive An Oil Price War:

After a frosty reception at the G20 summit in Australia this week, Russian President Vladimir Putin required some much needed rest, at least according to the official explanation given for his conspicuously early departure from the proceedings. All things considered it could have been a lot worse. Russia finds itself in familiar territory after a controversial half-year, highlighted by the bloody and still unresolved situation in Ukraine. Nonetheless, the prospect of further sanctions looms low and Russia’s stores of oil and gas remain high.

Did The Tech Bubble Just Quietly Pop?:

While some might scoff at the idea of there even being a bubble in hi-tech start-ups, it appears the massive wall of money that has been thrown at dot-com 2.0 names – all money-losing, social, mobile, cloud name-droppers – has dried up. As The TechCrunch Bubble Index shows, the last 90 days have seen startup-funding announcements collapse over 40% to their lowest level in almost 3 years

 – Gold Tops $1200 As China Cuts, Draghi Jawbones:

First Mario Draghi made some strong statements speaking in Asia that “It is essential to bring back inflation to target and without delay,” which sent EURUSD tumbling BUT did not spark moves in the S&P 500 (though Gold slipped). It was not until the PBOC cut rates (and sent AUD surging) that the US equity market perked up and started ripping… along with gold and as the morning progressed, gold has kept going as it is clear the Central Banks of the world have only one policy left… (no wonder the Dutch want their gold back)

JPMorgan Chase Cost US Taxpayers Millions, Had Them Pay For Settlement – Matt Taibbi

How The Government Punished Wall Street, Explained In 1 Cartoon
(Click on cartoon to enlarge.)


JP Morgan Chase cost US taxpayers millions, had them pay for settlement – Matt Taibbi (RT, Nov 12, 2014):

“Ordinary people lost enormous amounts of money” when JP Morgan Chase sold millions in faulty loans – and taxpayers still paid a big chunk of its billion-dollar settlement with the government, investigative journalist Matt Taibbi told RT.

In recent story published in Rolling Stone, Taibbi detailed how a former JP Morgan employee Alayne Fleischmann helped the Justice Department in its investigation against the bank. Eventually, a $9 billion settlement was reached. However, that agreement did not require the bank to admit guilt for fraud – and it all came about to keep the information Fleischmann divulged from surfacing.

Read moreJPMorgan Chase Cost US Taxpayers Millions, Had Them Pay For Settlement – Matt Taibbi

Former Goldman Banker Reveals The Path To The Next Depression And Stock Market Collapse

From the article:

“Yet, our political-financial system has gone from the dysfunctional to the failed to the surreal. Speculation, once left to individuals and investors, is now federally sponsored, subsidized and institutionalized.  When this sham finally buckles and the next shoe falls and rates do eventually rise, the stock market will tank, liquidity will die, and the broader economy will plunge into a worse Depression than before. We are not there yet because of these coordinated moves and the political force behind them. But we are on a precarious path to that inevitability. “


QE isn’t dying, it’s morphing (Nomi Prins, Nov 10, 2014):

A funny thing happened on the way to the ‘end’ of the multi-trillion dollar bond buying program known as QE – the Fed chronicles. Aside from the shift to a globalization of QE via the European Central Bank (ECB) and Bank of Japan (BOJ) as I wrote about earlier, what lingers in the air of “post-taper” time is an absence of absence. For QE is not over. Instead, in the United States, the process has simply morphed from being predominantly executed by the Federal Reserve (Fed) to being executed by its major private bank members. Fed Chair, Janet Yellen, has failed to point this out in any of her speeches about the labor force, inflation, or inequality.

Read moreFormer Goldman Banker Reveals The Path To The Next Depression And Stock Market Collapse

Whistleblower Alayne Fleischmann & Matt Taibbi On How JPMorgan Helped Wreck The Economy (Video)


Nov 7, 2014

Democracy Now!, is an independent global news hour that airs weekdays on 1,300+ TV and radio stations Monday through Friday. Watch our livestream 8-9am ET at http://democracynow.org.

As a side note: Democracy Now is – in my opinion – NOT independent.

The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare

 From the article:

Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as “massive criminal securities fraud” in the bank’s mortgage operations.

And now, with Holder about to leave office and his Justice Department reportedly wrapping up its final settlements, the state is effectively putting the finishing touches on what will amount to a sweeping, industrywide effort to bury the facts of a whole generation of Wall Street corruption. “I could be sued into bankruptcy,” she says. “I could lose my license to practice law. I could lose everything. But if we don’t start speaking up, then this really is all we’re going to get: the biggest financial cover-up in history.”

They’re gonna destroy her for that … sooner or later. The elitists are ‘patient’.


JPMorgan whistle-blower Alayne Fleischmann
Chase whistle-blower Alayne Fleischmann risked it all.

The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare (Rolling Stone, Nov 6, 2014):

By Matt Taibbi

She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn’t take it anymore.

“It was like watching an old lady get mugged on the street,” she says. “I thought, ‘I can’t sit by any longer.'”

Fleischmann is a tall, thin, quick-witted securities lawyer in her late thirties, with long blond hair, pale-blue eyes and an infectious sense of humor that has survived some very tough times. She’s had to struggle to find work despite some striking skills and qualifications, a common symptom of a not-so-common condition called being a whistle-blower.

Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing.

Read moreThe $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare

Fastest Pace Of Withdrawals From JPM’s Gold Vault In Over A Year

Fastest Pace Of Withdrawals From JPM’s Gold Vault In Over A Year (ZeroHedge, Oct 24, 2014):

While JPM’s eligible gold holdings are nowhere near the record lows hit in the summer of 2013, when they dropped to a tiny 46K ounces, sparking concerns of a potential deliverable default, yesterday according to the daily CME gold depository report, JPM saw a whopping 321,500 ounces, or about 10 tons of gold, withdrawn. This was the biggest outflow since the August 5 rebalance when nearly 1.5 million ounces were withdrawn and added, and was the biggest, and is tied with two identical 321,500 oz outflows recorded in early January. As of yesterday, JPM’s eligible gold tumbled by 40% in one day, declining to 485.K ounces from over 800K the day before: the lowest eligible gold inventory since almost exactly a year ago.

Eligible Gold JPM Oct 2014

What is perhaps more notable, is that the recent outflows of eligible golds are taking place at the same time as there has been a significant reduction in the NAV/gold holdings of the GLD ETF. A question thus arises once again: where is the gold being withdrawn to and who is doing these not insubstantial withdrawals.

Read moreFastest Pace Of Withdrawals From JPM’s Gold Vault In Over A Year

Europe Demands Banks Hand Over Their Lunch Money Following Swiss Franc Libor Rigging

Europe Demands Banks Hand Over Their Lunch Money Following Swiss Franc Libor Rigging (ZeroHedge, Oct 21, 2014):

…And don’t do it again!

Having confirmed that RBS, UBS, JPMorgan,,and Credit Suisse operated a cartell to manipulate bid-ask spreads of Swiss Franc libor, the European Commission has unleashed unmerciless vengeance on these law-breaking institutions:

JPMorgan fined EUR 72.2 Million, UBS fined EUR 12.7 Million, Credit Suisse fined EUR 9.17 Million, & RBS Nothing (for whistle-blowing).

Read moreEurope Demands Banks Hand Over Their Lunch Money Following Swiss Franc Libor Rigging

The $70 Trillion Problem Keeping Jamie Dimon Up At Night

The $70 Trillion Problem Keeping Jamie Dimon Up At Night (ZeroHedge, Oct 11, 2014):

Yesterday, in a periodic repeat of what he says every 6 or so months, Jamie Dimon – devoid of other things to worry about – warned once again about the dangers hidden within the shadow banking system (the last time he warned about the exact same thing was in April of this year). The throat cancer patient and JPM CEO was speaking at the Institute of International Finance membership meeting in Washington, D.C., and delivered a mostly upbeat message: in fact when he said that the industry was “very close to resolving too big to fail” we couldn’t help but wonder if JPM would spin off Chase or Bear Stearns first. However, when he was asked what keeps him up at night, he said non-bank lending poses a danger “because no one is paying attention to it.” He said the system is “huge” and “growing.” Dimon is right that the problem is huge and growing: according to the IMF which just two days earlier released an exhaustive report on the topic, shadow banking (which does not include the $600 trillion in notional mostly interest rate swap derivatives) amounts to over $70 trillion globally.

JPMorgan Hack Exposed Data Of 83 Million Customers, Among Biggest Breaches In History

JPMorgan hack exposed data of 83 mln, among biggest breaches in history (Reuters, Oct 2, 2014):

Oct 2 (Reuters) – Names, addresses, phone numbers and email addresses of the holders of some 83 million households and small business accounts were exposed when computer systems at JPMorgan Chase & Co were recently compromised by hackers, making it one of the biggest data breaches in history.

The bank revealed the scope of the previously disclosed breach on Thursday, saying that there was no evidence that account numbers, passwords, user IDs, birth dates or Social Security numbers had been stolen.

It added that it has not seen “unusual customer fraud” related to the attack which exposed contact information for 76 million households and 7 million small businesses.

Read moreJPMorgan Hack Exposed Data Of 83 Million Customers, Among Biggest Breaches In History

JPMorgan Stunner: ‘The Current Episode Of Excess Liquidity Is The Most Extreme Ever’

JPMorgan Stunner: “The Current Episode Of Excess Liquidity Is The Most Extreme Ever” (ZeroHedge, Sep 8, 2014):

“The ECB’s quantitative expansion is hitting the financial system at a time when broad liquidity is also very high. The rise in excess liquidity, i.e. the residual in the model of Figure 3, is supportive of all assets outside cash, i.e. bonds, equities and real estate. The current episode of excess liquidity, which began in May 2012, appears to have been the most extreme ever in terms of its magnitude and the ECB actions have the potential to make it even more extreme, in our view…. These liquidity boosts are not without risks. We note that they risk creating asset bubbles which when they burst can destroy wealth leading to adverse economic outcomes. Asset yields are mean reverting over long periods of time and thus historically low levels of yields in bonds, equities and real estate are unlikely to be sustained forever.”
– JPMorgan

JPMorgan Warns Military Escalation In Ukraine ‘May Lead To A Lehman-Style Shock’

… and WW3.


JPMorgan Warns Military Escalation In Ukraine “May Lead To A Lehman-Style Shock” (ZeroHedge, Aug 29, 2014):

The sudden military escalation in Ukraine in recent days has, according to JPMorgan’s Alex Kantarovich, reduced the earlier hopes that the high level meeting in Minsk on 26 August would help to defuse the conflict. As Kantarovich warns, the markets are now bracing for the US/EU responses. In the worst case scenario, now appearing more likely, severe pressure on stocks may extend. As he concludes, “we believe that with the significant deterioration in the Ukrainian situation, markets may treat this as a Lehman-style shock.”

RING OF POWER (Full 5 Hour Documentary)

Alternative upload:

Another Settlement: JPMorgan Receives Slap on the Wrist Despite Years of Fraudulent CFTC Data

too-big-to-fail

Another Settlement – JP Morgan Receives Slap on the Wrist Despite Years of Fraudulent CFTC Data (Liberty Blitzkrieg, Aug 4, 2014):

The Commodities Futures Trading Commission (CFTC) has been long viewed as one of the most corrupt of American institutions – and that’s saying a lot. Putting aside all the accusations with regard to silver manipulation in recent years, the most stunning controversy occurred back in 2010 when a retiring judge accused the other remaining judge of being a total bought and paid for Wall Street crony.

The retiring judge was George Painter, who accused fellow judge Bruce Levine of not once ever ruling in favor of an investor in his 20 years on the bench. Not only that, but he claimed this was the result of a promise Levine made to Wendy Gramm, the former head of the CFTC and the wife of Phil Gramm. Phil Gramm was the Congressman who spearheaded the repeal of Glass-Steagall in 1999, which is seen by many (including myself) as one of the most catastrophic pieces of legislation in American history since it laid the groundwork for the financial crisis of 2008, as well as the continued cancerous permanence and power of TBTF banks. FiredogLake covered the CFTC controversy in 2010:

Read moreAnother Settlement: JPMorgan Receives Slap on the Wrist Despite Years of Fraudulent CFTC Data

Frontrunning: July 23

Flashback:

This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied – THE SEQUEL


Frontrunning: July 23 (ZeroHedge, July 23, 2014):

  • Here come the gates which we predicted in 2010: SEC Is Set to Approve Money-Fund Rules (WSJ)
  • Dick’s cuts 400 jobs as golf now less popular (MW)
  • Kerry arrives in Israel, pushes for peace (Reuters) (Sure!)
  • Pay Penalty Haunts Recession Grads as U.S. Economy Mends (BBG)
  • Appeals Courts Issue Conflicting Rulings on Health-Law Subsidies (WSJ)
  • Rebel Stronghold Donetsk Holds Breath as Shellfire Mounts (BBG)
  • Business executive wins Georgia Republican runoff in U.S. Senate race (Reuters)
  • Five held in China food scandal probe, including head of Shanghai Husi Food (Reuters)
  • Jobs Hold Sway Over Yellen-Carney as Central Banks Splinter (BBG)

Overnight Media Digest

WSJ

* Two U.S. appeals courts issued conflicting rulings on subsidies for health coverage purchased on federal insurance exchanges, clouding a major part of Obama’s health law. (http://on.wsj.com/1pb81yo)

* The Federal Reserve Bank of New York found that Deutsche Bank AG’s U.S. operations suffer from a litany of serious financial reporting problems that the lender has known about for years but not fixed. (http://on.wsj.com/1jUoOXe)

Read moreFrontrunning: July 23

Banker Suicides Return: JPMorgan Executive ‘Blasts Wife, Kills Self’ With Shotgun

–  Banker Suicides Return: JPMorgan Executive “Blasts Wife, Kills Self” With Shotgun (Zerohedge, July 10, 2014):

With Russia and China having briefly taken over the hub of global executive suicides, the sad trend has returned back to America. In what appears to the 15th financial services executive suicide this year, yet another JPMorgan Director took his own life. As IBTimes reports, Jefferson Township (New Jersey) police report that the Global Network Operations Center Executive Director, “Julian Knott, age 45, shot his wife Alita Knott, age 47, multiple times and then took his own life with the same weapon.” They are survived by 3 teenage children… 

As IB Times reports,

JP Morgan executive director Julian Knott blasted his wife Alita to death with a shotgun before turning the gun on himself.

Read moreBanker Suicides Return: JPMorgan Executive ‘Blasts Wife, Kills Self’ With Shotgun

JPMorgan CEO Jamie Dimon Diagnosed With Throat Cancer, To Start Radiation And Chemotherapy

Throat Cancer … caused by too many ‘toxic assets’ maybe?

Thinking about Jamie Dimon, I am sure that he would be on the list of people that I would refuse to help, …

… unless he would confess and unload all of his dark deeds as CEO of JPMorgan.

Related info:

US Scientists Find That Chemotherapy Boosts Cancer Growth

Study: Chemotherapy Actually Increases Cancer Growth, Cancer Cells Becoming Resistant To Treatment

Chemotherapy Backfires Causes Healthy Cells To Feed Growth Of Cancer Tumors

Chemotherapy And Radiotherapy Make Cancer More Malignant (Video)

Study: Chemotherapy Can Backfire And Boost Cancer Growth (AFP)

– Steve Jobs Dead At 56, His Life Ended Prematurely By Chemotherapy And Radiotherapy For Cancer

New Documentary ‘Cut Poison Burn’ Exposes Cancer Industry’s Death Agenda (Official Trailer)

Former Model Battles Breast Cancer With Diet Changes; Refuses Chemo And Surgery; Tumor Is Breaking Down

Surgery, Chemotherapy, Radiation … Brain Tumors Reappear … 8-Year Old Girl Given Weeks To Live, Shrinks Cancer Tumors By 75 % With Diet (Video)


Jamie Dimon cufflinks - The seal reads Seal of the President of the United States and includes the arrow-carrying eagle

–  Jamie Dimon Diagnosed With Throat Cancer, To Start Radiation And Chemotherapy (ZeroHedge, July 2, 2014):

He may be “richer than you“, but when it comes to cancer everyone is equal. Moments ago, Dow Jones and Bloomberg broke news that JPMorgan CEO Jamie Dimon has been diagnosed with throat cancer.

  •  J.P. Morgan JPM Chairman, CEO Jamie Dimon Tells Employees, Shareholders He Has Been Diagnosed With Throat Cancer, Condition Curable
  • Dimon Says Prognosis “Excellent,” Cancer “Caught Quickly”
  • Dimon Says Cancer Confined, No Evidence Elsewhere
  • Dimon to start Radiation and Chemotherapy Treatment at Sloan Kettering, treatment to last 8 weeks
  • Dimon advised able to continue to be actively involved in the business

And now the best healthcare that money can buy will be promptly put to use. We wish him a speedy recovery as it would be far more equitable for the JPM CEO to answer for his actions in full health before a jury of his peers, where guilt can not be “admitted or denied” away.

Full Dimon email

Message from Jamie Dimon to all colleagues and shareholders

Subject line: Sharing some personal news

Dear Colleagues and Shareholders –

Read moreJPMorgan CEO Jamie Dimon Diagnosed With Throat Cancer, To Start Radiation And Chemotherapy

Prof. William Black: Epic Epidemic Of Fraud (Video)


Added: Mar 30, 2014

Description:

http://usawatchdog.com/zero-prosecuti… Fraud expert and former regulator Professor William Black says, “Even today, we are well into 2014, and the Department of Justice record is intact. There have been zero prosecutions of the elite officers who led the epic epidemic of fraud. It was the most destructive in world history, zero of them even unsuccessfully prosecuted, much less prosecuted.”

What is the result of massive rampant unprosecuted fraud? Professor Black says, “If you don’t have any accountability, you not only make certain that there is going to be a next blow-up, but it will be worse. . . . We have effectively removed the criminal laws for a particular elite class of frauds.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Professor William Black of UMKC.

12 Numbers About The Global Financial Ponzi Scheme That Should Be Burned Into Your Brain

12 Numbers About The Global Financial Ponzi Scheme That Should Be Burned Into Your Brain (Economic Collapse, June 11, 2014):

The numbers that you are about to see are likely to shock you.  They prove that the global financial Ponzi scheme is far more extensive than most people would ever dare to imagine.  As you will see below, the total amount of debt in the world is now more than three times greater than global GDP.  In other words, you could take every single good and service produced on the entire planet this year, next year and the year after that and it still would not be enough to pay off all the debt.  But even that number pales in comparison to the exposure that big global banks have to derivatives contracts.  It is hard to put into words how reckless they have been.  At the low end of the estimates, the total exposure that global banks have to derivatives contracts is 710 trillion dollars.  That is an amount of money that is almost unimaginable.  And the reality of the matter is that there is really not all that much actual “money” in circulation today.  In fact, as you will read about below, there is only a little bit more than a trillion dollars of U.S. currency that you can actually hold in your hands in existence.  If we all went out and tried to close our bank accounts and investment portfolios all at once, that would create a major league crisis.  The truth is that our financial system is little more than a giant pyramid scheme that is based on debt and paper promises.  It is literally a miracle that it has survived for so long without collapsing already.

Read more12 Numbers About The Global Financial Ponzi Scheme That Should Be Burned Into Your Brain

The Size Of The Derivatives Bubble Hanging Over The Global Economy Hits A Record High

Related info:

The Elephant In The Room: Deutsche Bank’s $75 TRILLION In Derivatives Is 20 Times Greater Than German GDP


The Size Of The Derivatives Bubble Hanging Over The Global Economy Hits A Record High (Economic Collapse, May 26, 2014):

The global derivatives bubble is now 20 percent bigger than it was just before the last great financial crisis struck in 2008.  It is a financial bubble far larger than anything the world has ever seen, and when it finally bursts it is going to be a complete and utter nightmare for the financial system of the planet.  According to the Bank for International Settlements, the total notional value of derivatives contracts around the world has ballooned to an astounding 710 trillion dollars ($710,000,000,000,000).  Other estimates put the grand total well over a quadrillion dollars.  If that sounds like a lot of money, that is because it is.  For example, U.S. GDP is projected to be in the neighborhood of around 17 trillion dollars for 2014.  So 710 trillion dollars is an amount of money that is almost incomprehensible.  Instead of actually doing something about the insanely reckless behavior of the big banks, our leaders have allowed the derivatives bubble and these banks to get larger than ever.  In fact, as I have written about previously, the big Wall Street banks are collectively 37 percent larger than they were just prior to the last recession.  “Too big to fail” is a far more massive problem than it was the last time around, and at some point this derivatives bubble is going to burst and start taking those banks down.  When that day arrives, we are going to be facing a crisis that is going to make 2008 look like a Sunday picnic.

If you do not know what a derivative is, Mayra Rodríguez Valladares, a managing principal at MRV Associates, provided a pretty good definition in her recent article for the New York Times:

Read moreThe Size Of The Derivatives Bubble Hanging Over The Global Economy Hits A Record High

Who Is The New Secret Buyer Of U.S. Debt?

H/t reader squodgy:

“This is strange.

Seems the Bonds were dumped and the Rothschilds through the JP Morgan channel have bought them under a shell trader to prop up the US Fed….again Rothschild & JP Morgan plus Goldman Sachs.”


Who Is The New Secret Buyer Of U.S. Debt? (Alt-Market, May 21, 2014):

On the surface, the economic atmosphere of the U.S. has appeared rather calm and uneventful. Stocks are up, employment isn’t great but jobs aren’t collapsing into the void (at least not openly), and the U.S. dollar seems to be going strong. Peel away the thin veneer, however, and a different financial horror show is revealed.

U.S. stocks have enjoyed unprecedented crash protection due to a steady infusion of fiat money from the Federal Reserve known as quantitative easing. With the advent of the “taper”, QE is now swiftly coming to a close (as is evident in the overall reduction in treasury market purchases), and is slated to end by this fall, if not sooner.

Read moreWho Is The New Secret Buyer Of U.S. Debt?

George Soros Sells All Shares Of Citigroup, Bank Of America And JPMorgan

George-Soros

George Soros sells all shares of Citigroup, Bank of America and JP Morgan (Intellihub, May 20, 2014):

Is this a sign of trouble ahead for the banking industry?

WASHINGTON — Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process.  Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.

Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500.  At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past.  As a result of this reputation, investors have begun to keep a close eye on his holdings.

Read moreGeorge Soros Sells All Shares Of Citigroup, Bank Of America And JPMorgan