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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:31,276 Threads:1,438 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 shït 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


wonder.gif
05-11-2012, 02:39 PM #2
Octo Mother Superior
Posts:42,590 Threads:1,469 Joined:Feb 2011
Perfect shït 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.

http://www.telegraph.co.uk/finance/finan...-debt.html

shit-hits-the-fan.gif
05-11-2012, 03:22 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,276 Threads:1,438 Joined:Feb 2011
coffeetime.gif pfft, this charade is so going down.

wonder.gif
05-11-2012, 03:22 PM #4
yankees skier
Posts:5,898 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.

Biere.
05-11-2012, 03:25 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,276 Threads:1,438 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

wonder.gif
05-11-2012, 03:30 PM #6
yankees skier
Posts:5,898 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.

Biere.
05-11-2012, 03:56 PM #7
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(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:10,589 Threads:633 Joined:Feb 2011
The ship's going down.

violin.gifviolin.gifviolin.gifviolin.gifviolin.gif

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night



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