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05-10-2012, 05:35 PM
| #1 |
| Predaceous stink bug Join Date: Apr 2012
Posts: 190
Liked: 134 times | JPM Crashing ??? |
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05-10-2012, 05:41 PM
| #2 |
| Yellow Jacket  Join Date: Nov 2011 Location: off world
Posts: 1,989
Liked: 880 times | yeah been following this little show kinda feels good but could be the start of something very bad always got to allow for zerohedge making things seem a bit more dramatic than they need to though
__________________ if it cant be done with a digger .... it cant be done |
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05-10-2012, 05:53 PM
| #3 |
| Predaceous stink bug Join Date: Apr 2012
Posts: 190
Liked: 134 times | |
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05-10-2012, 06:36 PM
| #4 |
| Predaceous stink bug Join Date: Nov 2011
Posts: 154
Liked: 54 times | These banks really make me sick. They are like blackjack junkies. They bet balls to the wall and when it works out they get paid a ton when it doesnt they just get bailed out, can't let the financial system fail etc. craziest legalized racket there is. |
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05-10-2012, 07:43 PM
| #5 | ||
| Golden Cockroach  Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,065
Liked: 2454 times | Originally Posted by BigJim  :
Quote :
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug | ||
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05-10-2012, 11:45 PM
| #6 | |
| Big-eyed bug Join Date: Mar 2012
Posts: 318
Liked: 199 times | Originally Posted by rblong2us :
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05-11-2012, 03:26 AM
| #7 |
| Predaceous stink bug Join Date: Nov 2011
Posts: 146
Liked: 78 times | Good time to buy some silver? Hit them while their down? |
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05-11-2012, 05:47 AM
| #8 |
| Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,065
Liked: 2454 times | If my tracking of Apmex physical inventories is any indication, it would appear that people are BTFD.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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05-11-2012, 07:05 AM
| #9 |
| Super Moderator   Join Date: Mar 2012 Location: Migratory
Posts: 1,620
Liked: 685 times | Local news channel today said something about JPM losing 2 billion dollars over the past 6-8 weeks, but I didn't catch the whole story. Should be interesting! 
__________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 *** Forum Rules |
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05-11-2012, 07:05 AM
| #10 |
| Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,065
Liked: 2454 times | I wonder if the upcoming ISDA rule change meeting has something to do with JPM distress.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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05-11-2012, 07:07 AM
| #11 |
| Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,065
Liked: 2454 times |
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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05-11-2012, 07:08 AM
| #12 |
| Yellow Jacket  Join Date: Nov 2011 Location: Waaay south
Posts: 3,370
Liked: 2046 times | I just read that the losses for JPM prop desk are something like 4 billion instead of the reported 2 billion. So, if these monkeys have a couple of trillion dollars worth of market presence, isn't a few billion dollars just a bit of chump change? <sarc>
__________________ All things being equal, the simplest answer is quite often the correct answer - Occam Last edited by ancona; 05-11-2012 at 09:05 AM. |
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05-11-2012, 09:02 AM
| #13 |
| Ground Beetle  Join Date: Nov 2011
Posts: 971
Liked: 554 times | ancona - well of course, couple of billions that way or another - that is apparently the way they think - honestly, why shouldn't they, if instead of see some heads rolling, Uncle Sam is always to the rescue, when things go wrong. PMBug, I've seen that piece about "Jamie Dimon tapeworm" - I must admit, Max Kaiser is sometimes over the top in how he reports that whole financial cesspit (though he is always right with regards of what he is saying), but that one was h.i.l.a.r.i.o.u.s  Obviously, I do believe that all of this will end badly, and it has to start with something "too big to bail"* - so I am awaiting the inevitable with mixed emotions - I do know it is needed to flush all that scum out of the system, and even rebuild the system itself - but it ain't going to happen, without some EXTREME disturbances, both politically, socially, and economically. You just DON'T change systems of that size, complexity, and powerful connections, unless you are absolutely FORCED to do that by the "higher need" circumstances. Is it a beginning of the end - no... it has begun in 2006, if not in 1989 (when Russian empire went under - first and foremost, financially). It is just another stage in the final act, I suppose... * "too big to bail", used with regards to our Her Majesty Financial Institutions, I thereby claim copyrights  Please use it as often as you wish, together with that license/disclaimer, and send some money my way every time you do so |
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05-11-2012, 09:07 AM
| #14 |
| Yellow Jacket Join Date: Nov 2011 Location: Waaay south
Posts: 3,370
Liked: 2046 times | Too big to bail is the lynchpin in the system which if pulled, collapses the whole fucking thing. We had all better be careful what we wish for here. These monstrosities need to be carefully and slowly dismantled and made to be a much smaller size. Failure of a Goldman or JP Morgan sized firm would burn down the entire financial complex in less than a fortnight.
__________________ All things being equal, the simplest answer is quite often the correct answer - Occam |
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05-11-2012, 10:00 AM
| #15 |
| Ground Beetle Join Date: Nov 2011
Posts: 971
Liked: 554 times | ...I am fully aware, ancona... That is why I have mixed emotions, but on the other hand, I do not think there really is another way than a shock therapy, not with all the connections, power, and the amounts of speculations in a totally abstract bets, that are at play here. There will be a hell to pay for everybody - and especially, for have-nots, I suppose. I just can't see it working out another way. I wish I was wrong, though, and that there would be some moderately painful way of dismantling that cesspit, instead of extremely painful one. |
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05-11-2012, 10:23 AM
| #16 |
| Yellow Jacket Join Date: Nov 2011 Location: Waaay south
Posts: 3,370
Liked: 2046 times | Yeah, the descent in to hell will be long and painful, even for folks that have prepareed themselves.
__________________ All things being equal, the simplest answer is quite often the correct answer - Occam |
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05-11-2012, 10:43 AM
| #17 |
| Ground Beetle Join Date: Nov 2011
Posts: 971
Liked: 554 times | ...another media piece on that - questioning if yesterday's JPM's release is just the tip of the iceberg, and "ahead damage control" technique http://www.bloomberg.com/video/92465009/ |
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05-11-2012, 10:43 AM
| #18 |
| Predaceous stink bug Join Date: Apr 2012
Posts: 190
Liked: 134 times | DOW,S&P,Nasdaq,ALL UP!!! Metals Down... Move along now....Huge JPM losses mean nothing... GOD BLESS OUR TROOPS!!! |
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05-11-2012, 11:03 AM
| #19 |
| Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,065
Liked: 2454 times | Must be all those green shoots.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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05-14-2012, 02:07 PM
| #20 |
| Super Moderator Join Date: Mar 2012 Location: Migratory
Posts: 1,620
Liked: 685 times | http://finance.yahoo.com/blogs/daily...165144546.html Let me get this straight, it should be illegal for companies to take risks and make a losing bet?! a) If a company goes bankrupt, DO NOT bail it out! This only encourages risk taking behavior! b) For all of those that would complain about the little guy's that get hurt because thier bank went under, shouldn't it be thier responsibility to make sure the company they had thier life savings to is solvent? This would be like giving all of your money to an investment company that picks the wrong stock and you lose all your money. Instead of taking personal responsibility for picking a bad investment firm, you tell the governement to give that investment firm billions of dollars so you can get your money back? 
__________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 *** Forum Rules |
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