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! JPMorgan Makes Emergency After Hours Conference Call on Multi $ Billion Losses

Submitted by slowginfizz on Thu, 05/10/2012 - 21:01
in

Something big is happening. JPM CEO Dimon is talking about a 2 billion trade loss but zerohedge.com with Tyler and friends (Most of who constantly give Ron Paul love while calling MSM whores) are talking about 20 billion plus losses with positions that can't be unwound! These trades are not client money. No one really knows how much they are leveraged and have re-rehypothocated assets but this takes a meat cleaver to the banks reserves. If leveraged only at 30:1, a billion dollar loss could grow into 30 billion in margins calls! If Dimon is admiting a 2b loss while admitting judgement errors, it has to be bad. This is damage controll trying to calm Friday markets. This is can be a game changer.

Hell this could be the reason for MFGlobal. MF and Corzine took one for the team. JPM got 1 billion plus, tones of silver while JPM buddies in the bankruptcy/receivership locked out MF clients accounts/assets. They couldn't buy/sell/trade. Was the whole thing just to buy JPM time? This is speculation but ......

The market esp the banksters, Mittines and crew, are going to take a hit tomorrow.

REVOLUTION!
FORWARD ARMS!


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Kudlow

Submitted by donvino on Sat, 05/12/2012 - 20:33.

Just listened to him - guest Sen. Coburn - Oklahoma

Larry pointed out that JP has about 2.3 trillion in assets...now I do not know if liabilities are considered assets today. lol

Furthermore, Larry stated that JP has 190 billion in Capital and are poised to still make 4 billion this year.

Hence, 2 billion is really a drop in the bucket for them by what Larry says.

Tom Coburn had some really good comments ie. inflation

btw, Kudlow mentioned he was, "not a good friend of Dimon"

—

donvino

The House of Morgan

Submitted by dreber on Fri, 05/11/2012 - 17:36.

Must Fall

This is egregious! (anyone

Submitted by bnice17 on Fri, 05/11/2012 - 10:28.

This is egregious! (anyone else watch the office)

"If you subsidy something you get more of it"

Submitted by Remy74 on Fri, 05/11/2012 - 06:21.

They got people's money for free from the government last time, they went out and gambled with it as they did before getting into trouble, now they are back for more.

Big bankers played with fire again and got burned...

Submitted by pawnstorm12 on Fri, 05/11/2012 - 06:11.

Probably using their bailout money at that.

JP Morgan was hedging and f'd up.

Markets are going to tank.

—

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

I would love to see Silver and Gold

Submitted by eilif on Fri, 05/11/2012 - 03:33.

DROP! Because that means the Dollar and our purchasing power gets stronger!

I would love to see PMs drop so I can buy more of them

Submitted by bytejockey on Fri, 05/11/2012 - 10:37.

before my FRNs achieve their intrinsic value of zero.

sharkhearted's picture

Bump...

Submitted by sharkhearted on Fri, 05/11/2012 - 00:51.

~Chris
Norfolk, Va

—

~Chris
Norfolk, VA

Time to INVESTIGATE the investigators of 9/11. PROSECUTE the prosecutors. EXPOSE the cover-up.

I can only hope.

Submitted by McClarinJ on Fri, 05/11/2012 - 00:23.

It would be nice to see silver zoom and breathe some life into my mining stocks.

—

New Hampshire and Ecuador.

Repost:

Submitted by rprpfreedom on Thu, 05/10/2012 - 23:55.

Repost:

Everbody I mean EVERYBODY should go out and buy some physical silver tomorrow, doesn't have to be a lot if we can get everyone on board we can do some damage. With JP Morgan floundering NOW is the time to put the squeeze on those naked shorts.

Second Friday in May? Time to take the silver away!

#SILVERFRIDAY

Start spreading the word tweets have been started, loop in hash tags like #endthefed #ronpaul #crashjpm #crashjpmorgan #silver #gold #commodities #tbtf #jpm

RpLiberty75's picture

Yes and Remember

Submitted by RpLiberty75 on Fri, 05/11/2012 - 00:48.

If you don't hold it, you don't own it.

I like your style Perhaps

Submitted by 2012R3V0LUT10N on Fri, 05/11/2012 - 00:21.

I like your style

Perhaps contact those SEOs Wead was asking about!!!

Imagine the headlines

—

To arms! To arms! The Redcoats are coming!

Interesting

Submitted by jlee2027 on Thu, 05/10/2012 - 23:51.

According to public records, JPM has almost 900 billion in cash, made nearly 90 billion in profit last year, so to have a special conference call over a measly 2-3 billion loss makes no sense. I suspect it's much worse.

I think it this was made public by Jamie Dimon to possibly pressure the FED to bail them out? Who really knows?

Very interesting....

—

Tricks and treachery are the practice of fools, that don't have brains enough to be honest. - Ben Franklin

Are Chinese banks also moving in for the kill?

Submitted by Bob-45 on Thu, 05/10/2012 - 23:48.

Fed clears China's first US bank takeover

http://ca.news.yahoo.com/3-big-chinese-banks-enter-us-bankin...

Actually it is the beginning of "buy buy buy"....the really the

Submitted by karenabcde on Thu, 05/10/2012 - 23:48.

early beginning......if JP is going down now, this is the PRELUDE.com
to at LEAST $650 trillion *WITH A "T"....

the beginning of the end...if you want to make some real bucks...get ready to go against the grain...not quite yet...but in the next few YEARS to BUY BUY BUY....oh man...WATCH THE SPARKS FLY..

—

SequoiaTrees4RonPaul

The problem

Submitted by Shadowsil on Thu, 05/10/2012 - 23:44.

The problem with them going down is, We farging pay for it!

You heard it here and elsewhere, when they take hits like this, it gets written off and throw onto you the taxpayer, via Tarp or Zirp or any other means by the debacle that is called the U.S. Goverment and the Federal reserve.

Untill we can remove goverment entitiy from the existance of the market, we will continue paying for it.

Can someone break

Submitted by zeeon on Thu, 05/10/2012 - 23:39.

this down for me Barney style? What happened and why does this have the potential to be devastating? I read the marketwatch article and the comments but its all Greek to me.
Thanks in advance.

Check your email

Submitted by slowginfizz on Fri, 05/11/2012 - 00:35.

Barney style with a lot of short cuts.

slowginfizz Thank YOU!

Submitted by zeeon on Fri, 05/11/2012 - 10:20.

So much for the email. I woke up to it this morning and I thought it was pretty cool a fellow DP'er took the time to help me out.

Bonus - I understand now what is going on so a big Thank You! I really appreciate it :)

Now, it's time to go buy some guns and ammo.

Watch silver spot tomorrow

Submitted by Mary1 on Thu, 05/10/2012 - 23:51.

JP Morgan has been manipulating the price of precious metals for years, but especially silver in the last few years, by shorting it.

Google "silver spot price" tomorrow, and see where it trades in the morning. If it goes up dramatically, take your spare cash down to your coin dealer and buy all the silver coins you can afford. If it goes down dramatically (a sign that Goldman Sachs and the Fed are stepping in to help out their good buddies, the JP's), place a small bet by buying calls on SLV or PSLV (two months out might just do it!)

Or be even smarter and stay out of it altogether. They have more money on the Dark Side of the Force than we do, and it's very risky business.

At the very least, have a month's cash on hand stashed in your house (don't use the freezer).

Any way you look at it this

Submitted by 2012R3V0LUT10N on Thu, 05/10/2012 - 23:50.

Any way you look at it this is not good. And it seems they are doing everything in their power to play this down. They are buying time. If they can get through Fri without a crash they have all weekend to "fix" their mistake.

Just a strange feeling but I think this is much bigger than they are making it out to be. I am watching the world markets it seems no one knows what to make of this right now.

I have held the believe that a crash was on the horizon but I was thinking Nov-Dec but this might just start the ball rolling down a long hill.

—

To arms! To arms! The Redcoats are coming!

Barney style

Submitted by Shadowsil on Thu, 05/10/2012 - 23:48.

Suggest you head over to Zerohedge to start learning abit about the market. I have been reading that stuff for 2 years and still feel like a 3rd grader compared to some of those guys.

You will be overwhelmed at first, but eventually start understanding whats really going on.

SELL! SELL! SELL!

Submitted by AnAppealToHeavenWash on Thu, 05/10/2012 - 23:37.

.

No worries Bernackie will just bail 'em out and

Submitted by sharkcity on Thu, 05/10/2012 - 23:37.

pile more debt on us or steal our money..These banksters and even Goldman Sachs and Morgan Stanley which are not even banks should have been liquidated..

—

Government is supposed to protect our freedom, our property, our privacy, not invade it. Ron Paul 2007

Which would be great!

Submitted by slowginfizz on Thu, 05/10/2012 - 23:45.

Let them bail em out. That may prevent a total crash but by God it would be the boot that kicks Obama out of office while pushing Mittens back to his trading desk. The public will not stand for another massive bailout and there is no way the media will be able to spin this from President Paul's Revolution

All the naked shorts

Submitted by sausages on Thu, 05/10/2012 - 23:35.

They are holding in silver is fixing to crush them!

—

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

This has the potential to be

Submitted by begforme4484 on Thu, 05/10/2012 - 23:31.

This has the potential to be a catalyst to our economic freefall.

—

The Revolution Continues..

sooner or later

Submitted by slowginfizz on Thu, 05/10/2012 - 23:39.

I'm sorry but I think it will take another crisis before people wake up. I'd rather have the collaspe happen now so President Paul can manage the crisis, though it may be unmanagable, rather than wait for either of the Obamney twins. War will be their only solution. Don't know if it'll war against China, Middle East or US Citizens buth it'll be war!

Put a smile on my face...

Submitted by GunTrapTanDaddy on Thu, 05/10/2012 - 23:23.

when I read of the losses on Bloomberg today. Couldn't happen to a better group of shisters. Let them all go down, and bring back sound money.