Simon Black – Yesterday Senator Elizabeth Warren used a Wall Street oversight hearing to whine about cryptocurrency.
At one point, almost as if a well-choreographed football play, she passed the ball to Jamie Dimon — CEO of JP Morgan Chase, the biggest bank in the world — to “explain why crypto is such an attractive financial tool for terrorists, drug traffickers, and rogue nations?”
It’s hard to imagine a more loaded question.
Mr. Dimon gleefully caught the pass and said: Continue reading
Bix Weir – The action in the price of silver on April 27th was very predictable. Ted Butler has pointed to the very favorable change in the Commitment of Trader reports from the COMEX showing that the commercial traders (ie the riggers) have significantly covered their short positions and are ready to allow the market to move up. Yes – it’s all run off computer programs and it’s all done to both control the price and allow them to make vast amounts of money going up and going down.
The big question now is: “Will the commercials, like JP Morgan, short on the way up to cap any significant silver price rises?” That alone will determine how high the price of silver will go from here and whether or not they maintain control.
I’d give it a 50/50 chance of breaking to new highs in the next few months since JP Morgan holds the lowest short position they have held in years and a massively long physical position according to Ted.
And there may be something else going on here.
On May 1, 2011 the price of silver was artificially slammed down as it approached $50/oz with more force and violence than ever witnessed in a commodity. This was on NO NEWS and left recent buyers of silver regretting their decisions. To date, four years later, the price has continued to be artificially depressed to such a degree that all positive sentiment has been extracted from silver. Continue reading
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ZeroHedge – Earlier today we noted that Gregg Berman, the SEC’s HFT “investigator” whose algorithm investigating hilariously involved the use of a platform created by an HFT firm, will be leaving the regulator later this month. Perhaps he can give Jamie Dimon a ring because as it turns out, JP Morgan is in the process of creating a new division which, much like the SEC, will deploy machines in an effort that’s ostensibly designed to catch people doing things wrong, but which will, in the end, likely prove completely ineffectual at rooting out the type of manipulation and general chicanery that has over time transformed nearly every market into a farcical, manipulated shadow of its former self. Continue reading
A look at the International Banking Cartel led by the Bank for International Settlement (in Basel, Switzerland) known as the bank of central banks (58 central banks) and The US Federal reserve System.
Also a look at banking tycoons: from the Rothschild family in Europe to JP Morgan and others in the US. How banks not only control governments but also appoint politicians through huge campaign donations. Governments at the service of the major banks, the best example: the Obama administration and the history’s biggest bail out of the same institutions that caused the Great Recession.