Blythe Masters, the wicked witch, spreading her wings

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pmbug

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The Global Financial Markets Association has announced that Blythe Masters, head of global commodities at JP Morgan Chase, will take over as chair from Michele Faissola, global head of rates and commodities at Deutsche Bank, on 1 February.
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Reports indicate that JP Morgan has hired Colin Fenton as head of Global Commodities Strategy at JP Morgan, who is- wouldn't you know it- a Goldman Sachs Alum. That's right, the same Colin Fenton of JPM who called for $2,500 gold by the end of 2011- in August, at almost the exact top near $1900. Looks like Mr. Dimon was rather impressed with that fleecing of the sheople.

http://silverdoctors.blogspot.com/2012/01/breaking-news-blythe-masters-leaving.html
 
For those of you who speak a little French, this is a very good unauthorized biography of BM:
 
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After deeper research and a reader tip, we have uncovered that Michele Faissola is the Vice Chairman of ISDA. Prior to the Blythe's insertion into the GFMA Chair, effective Feb 1, Michele Faissola was both the head of the GFMA and the Vice Chairman of the ISDA. As you can see from GFMA's mission statement below, they might as well just be combined into one organization.
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The real story appears to be that we needed to put one of our banksters onto one of these banking oversight committees to smooth over the haircuts which are going to take place with the European Debt Crisis soon and make sure they are carried out exactly according to the wishes of Mr. Dimon and Mr. Blankfien. Michele Faissola with his stellar reputation of working with Italian tycoons/money laundering , must have been told that he was now only going to be responsible for "oversight" of one of the two organizations. Meanwhile, The Morgue puts Asset Number 1 in place to carry out the dirty work.
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http://silverdoctors.blogspot.com/2012/01/blythe-replaces-faissola-who-is-vice.html

We discussed the import of the ISDA in the Sinclair thread just yesterday:

http://www.pmbug.com/forum/f4/jim-sinclair-impending-undeclared-default-5-major-us-banks-500/
 
According to Ms Masters, JPM does no proprietary trading ( http://en.wikipedia.org/wiki/Proprietary_trading ). They only trade on behalf of their clients.
This could actually be true in the case of PM manipulation. Their client is probably the FED or the Treasury
snidely.gif


Watch the video of her recent CNBC appearance here:
http://www.zerohedge.com/news/blyth...n-its-gold-axed-clients-and-doing-wrong-thing
 
Every primary dealer is likely a client of another. Seems an easy way for friends to get around silly reporting laws/requirements.
 
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