Replies to This Discussion

Permalink Reply by Paul Repas on May 12, 2012 at 9:50am

The risk here is likely capital flight. I doubt sophisticated investors really believe the event to the derivative loss is limited to $2b. It is thought that JPM's derivative exposure in the derivative market is into the 100's of Trillions, but that is hearsay for now.

Add to this, "surprise" disclosure that JPM suddenly realized it lost $2b, a downgrade Friday by Fitch and it gets more interesting. http://www.businessweek.com/ap/2012-05/D9UMPQN80.htm

This downgrade will cause JPM to have to come up with another $1b to satisfy capital requirements. I would think Jamie Dimon is holed up this weekend with Bernanke and company doing some discovery and due diligence with regards to what risk is REALLY out there.

The run on the banks at Lehman and Bear Stearns in the financial crisis were acerbated by hedge funds pulling out their money from the Prime Brokerage businesses of these banks as they had concerns about the safety of their capital (the assets of the hedge fund). As the "sudden" $2b loss was the talk of the hedge fund community this week, and then a downgrade the next day, expect some hedge funds to pull their money next week and this could cascade into a run on the bank. If capital exits and these derivative positions that are essentially the market (see stories of Bruno Iksil at ZeroHedge.com) then lookout below. It could be a very interesting week next week.

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Permalink Reply by Phanes Erichthoneus on May 13, 2012 at 6:07am

Then imagine (GUFFAW) going cashless, completely. Nobody needs money, everything is free. A truly MATURE society can handle that: go to the grocery store and get what you need; don't get twelve cases of every canned food they have just because it's free. That'd work, too.

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Permalink Reply by Paul Repas on May 12, 2012 at 11:16am

Washington Times Reporter Discusses Investigation Into Obama's Forged Selective Service

http://www.youtube.com/watch?v=-ZTo_1MGVJk&feature=player_embedded

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Permalink Reply by Joshua Rowe on May 12, 2012 at 11:21am

I honestly can't believe people are even still commenting on this post. According to the "insider", Drake, these arrests should have already started taking taking place and arrest that high profile would have made some sort of news. I'm not trying to sound like the pessimist that I really am but I feel like it insults my intelligence for someone to expect me to believe anything like this. The only way there will be any kind of arrests will be if we, as citizens, were to go and do it ourselves. 

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Permalink Reply by Captain Huggy on May 12, 2012 at 11:56am

Yuppers. I am also waiting for the other shoe to drop. I think Drake said that the time frame went through May 23rd and could extend, if need be. I think I will just stay prepared because I don't see us making it to the election without civil disorder whether from Drake's people or a banking collapse or a racial war or Obummer's people or something else.

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Permalink Reply by Rikki Heinis on May 12, 2012 at 12:00pm

I agree Captain Huggy. Something is surely headed our way and I believe it will be prior to November elections as well. Hope for the best but, stay prepared for absolutely ANYTHING!

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Permalink Reply by Sha Twanee on May 12, 2012 at 5:57pm

TO: Joshua Rowe

Sir, they have....I just posted more info on the arrests happening....if you start doing research or just looking you would find the proof that I have already posted and MORE IS COMING ~
Didn't you hear the GEIHNER has already been arrested and an ankle monitor on him?
It was TELEVISED on FOX NEWS 1 month ago...IT IS HAPPENING....

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Permalink Reply by Sue Beckwith on May 12, 2012 at 6:34pm

http://alternativeeconomics.wordpress.com/2012/03/03/u-s-treasury-s...

Apparently this was from 2010 and not current.

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Permalink Reply by markus kentwood on May 12, 2012 at 5:40pm

ew wtf?

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Permalink Reply by Rikki Heinis on May 12, 2012 at 5:58pm

That is disgusting. I shudder to think what the OWS crowd had in mind for that! I am SO glad that I am nowhere near Chicago.

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Permalink Reply by bernie eugene allers on May 12, 2012 at 7:52pm

hello all,interesting obama vs fox news...

http://tech.groups.yahoo.com/group/eceti/message/8041

also more info on this site to see

great work all..."We The People are ready which ever way the wind blows...

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Permalink Reply by Phanes Erichthoneus on May 13, 2012 at 6:15am

Fox News is like MTV and The Weather Channel: No music, no weather.

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