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Black Friday Anyone? JPMorgan Hit by 'Egregious' Trading Loss of $2 Billion!
05-11-2012, 10:02 AM #1
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,203 Threads:1,487 Joined:Feb 2011
Quote:JPMorgan, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.
Read more: http://www.cnbc.com/id/47377555

Euro down against dollar

China won't buy any more EU debt

Doubts about the EU holding together

Contingency plans to go back to pre EU currencies

Markets declining

Derivatives bubble about to pop

The perfect shit storm is upon us

Another round of QE will be the probable response, but will only serve to slightly lengthen the time until kaboom, the lumbering giant crashes. coffeetime.gif


05-11-2012, 02:39 PM #2
Octo Mother Superior
Posts:41,367 Threads:1,583 Joined:Feb 2011
Perfect shit storm is about right pop2.gif

Companies across the world face a "perfect storm" as they have to raise £28.5 trillion ($45.9 trillion) to finance an upcoming "wall" of debt.

Anthony Peters at SwissInvest said it was likely there would "not be enough money" available in the coming years for companies to refinance and raise the amount of new debt required.

"There is not enough money on planet Earth to fund it all. We are living on borrowed money and there is no way of avoiding that," he said.


05-11-2012, 03:22 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,203 Threads:1,487 Joined:Feb 2011
coffeetime.gif pfft, this charade is so going down.


05-11-2012, 03:22 PM #4
yankees skier
Posts:5,032 Threads:215 Joined:Feb 2011
That amount of money could never be raised. There would have to be a reset or debt forgiveness across the board.

05-11-2012, 03:25 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,203 Threads:1,487 Joined:Feb 2011
Oh the debt will be forgiven, as long as everyone goes along with the new savior, the one world currency and government. gaah.gif


05-11-2012, 03:30 PM #6
yankees skier
Posts:5,032 Threads:215 Joined:Feb 2011
(05-11-2012, 03:25 PM)JayRodney Wrote:  Oh the debt will be forgiven, as long as everyone goes along with the new savior, the one world currency and government. gaah.gif

Yep. Won't be long, perhaps by the end of the year, after the elections in the US.

05-11-2012, 03:56 PM #7
Shadow Incognito Anonymous
(05-11-2012, 03:22 PM)yankees Wrote:  That amount of money could never be raised. There would have to be a reset or debt forgiveness across the board.

It can be printed.

Don't worry about JPMorgan, Obama will give him a $3 billion bailout, Dimon will announce a $1billion profit and go on to be Secretary of the treasury rofl.gif
05-11-2012, 04:03 PM #8
Kreeper Griobhtha
Posts:11,087 Threads:770 Joined:Feb 2011
The ship's going down.


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice



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