December 6, 2010
A recent propaganda piece in the NY Times by Roger Lowenstien painted Jamie Dimon CEO of JP Morgan Chase as some sort of folk hero among bankers. Somehow wiser with a superior morality than his bankster cronies. Yeah, wiser like a mob boss who sends his cronies out to do the “whacking” keeping his own hands clean. The bailout dust has settled and JPM has remained profitable every quarter during the recession.
Lowenstien paints a picture of a patriot doing the right thing in a culture of corruption; while Salon.com’s Andrew Leonard calls Dimon “dumb.” Dimon is neither a patriot nor a dummy and I doubt his feelings been hurt by criticism of the banking industry by the tea party, the media or anyone else.
This alleged Wall street god continued to lend to Main street even when other banks wouldn’t and because he was so credible, when the government needed to consolidate banks that were failing due to the collusion of JPM, Goldman Sachs and the Federal Reserve where did they turn? Jamie was happy to acquire Bear Stearns and WaMu. Along with the Bear Stearns acquisition they took control of the silver shorting market which put them in the precarious position they are in now. The Rebel forces are aligning their attack on the death star this week as people all over the world prepare to purchase silver.
In March 2010 London trader and whistle blower Andrew Maguire exposed JPM’s methods of suppressing the silver market in a series of emails to the Eliud Ramirez a senior investigator of the U.S. Commodity Futures Trading Commission enforcement division. He provided data and was even able to accurately predict the method and timing of events that prove market manipulation on the part of JPM and the New York Federal Reserve, a feat impossible in a true free market system. Maguire handed JPM over to the CFTC on a “silver platter” (pun intended) His emails went largely ignored.
The inventor of the virtual specialist technology / prediction markets and the Hollywood Stock Exchange, Max Keiser, along with Zero Hedge, and other investors like Eric Sprott are leading a campaign to “Crash JP Morgan Chase.” The theory is if 100 million people purchase one piece of silver at about $30 an ounce this will cause JPM to default on its naked short sale silver contracts, an estimated $1.5 trillion liability against their market capital of $150 billion. Keiser predicts the result will be $500 silver spot price and more importantly the Death Star will crash when their stock plunges as a result of their default on their naked silver position and are forced to bankrupt.
“This campaign has 100% chance of working; it falls into the category of a self-fulfilling prophecy. As more individuals buy silver and gold, all attempts to replenish the system with more paper money will only cause the purchasing power of the silver and gold to increase – thus prompting more people to buy more. Any attempts to bail out JP Morgan would have the same effect. If the US Fed was to flood the system with bailout money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management), more inflation will ensue and the price of silver and gold will rise more, triggering more purchases. A virtuous circle is born.” wrote Keiser in the London Guardian.
A devastating loss for the Wall Street oligarchs and a huge win for Main street. This type of success can expose the controlled market manipulation on a mass scale and bring to light JPM’s other dubious positions. “In the end, it’s about transferring wealth back to the people from where it came” said Keiser.
Bob Chapman of The International Forecaster said in a recent interview, “JP Morgan is the largest share holder in the federal reserve bank, if we can crush them it will be fantastic.” he went on to say that JP Morgan is under heavy influence of the European investors like the British Royal family and always has been. Chapman is respected in the silver and gold trading markets and was one of the largest gold & silver stockbrokers in the 70’s and 80’s and also noted that JPM is shorting the silver market to back its derivatives position.
Converting fiat currency back into real currency like silver, gold and other precious metals will expose the fiat ponzi scheme and help bring sound monetary policy back to the United States and could pave the way for the world. Even Robert Zoellick, the president of the World Bank, has called to bring gold back into the global monetary system. Although his agenda is less about putting wealth back in the hands of the people and more about creating a global currency that his bank will administrate. As gold prices rise investors will dump local currencies and invest in the World Banks gold backed currency effectively collapsing regional currencies and advancing the cause of global governance. Stated differently: The World Bank wants to control the worlds currency so it can then form a global government. Sound crazy? Think about it.
On Friday December 10, Max Keiser, economists and investors are asking all Americans to buy at LEAST one (1) ounce of PHYSICAL Silver offline at a local coin dealer or pawn shop or online at a primary dealer or on the secondary market like eBay.com. Do NOT buy any silver certificates or speculative silver mining stocks as this is the very fraud they are attempting to collapse.