Comment: JPM = Free Markets

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the stranger's picture

JPM = Free Markets

I read a piece by Warren Mosler at the Huffington Post, A Primer on Gold Lending, that was so loaded with spin it reminded me of a few remarks in this blogs string. Then, while dropping by Le Café Américain to see what's cooking, I noticed Jesse had eviscerated the piece. By reading the comments in here I can tell that most of the folks here really care about the issues RP does, and might be very interested in this well written rebuttal. And for those few here that would try to persuade me that ‘shorting selling’ is a legitimate market function (which it is), please...

A quote from the article linked above

And further, in the case of commercial entities like the TBTF bullion banks JPM and HSBC, they are not complaining about short selling that is backed by physical metal, duly paid and accounted for. They are asking questions about what appear to be enormous naked short positions against silver, questionable ownership and claims to collateral, and naked shorting by banks using public funds and powerful influence over the regulators, with selling patterns indicating the intention of manipulating the price in order to gain from it. Sound familiar? It seems as though this has been the very basis of the US financial system since the repeal of Glass-Steagall.

Just for the record, out of all the comments here at the Daily Paul, this is my number one favorite line to date -

...hating JPM shorting is akin to hating the free market...

Priceless, I must drop in here more often just for the entertainment value. Besides, there are a lot good folks hanging out here too. We can laugh together (videos of slaughters, notwithstanding).