Jamie Dimon Warns “Brace Yourself” for This “Economic Hurricane”

Via Birch Gold Group

Jamie Dimon Warns, Brace Yourself for This Economic Hurricane

From Peter Reagan

We’ve suggested many times that an economic “storm could be brewing” so that you could start or continue preparing for it.

Well, if Jamie Dimon (CEO of JP Morgan) is correct, it looks like we might have underestimated how bad things could get. According to a recent report on CNBC, Dimon predicts that something much worse is barreling toward our economy:

“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” Dimon said Wednesday at a financial conference in New York. While conditions seem “fine” at the moment, nobody knows if the hurricane is “a minor one or Superstorm Sandy.”

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NOTHING TO FEAR BUT FEAR ITSELF

Customers waited in line at a Costco in Burbank last week to buy water and other supplies for fear that COVID-19 would spread and force people to stay indoors. Image result for nothing to fear but fear itself coronavirus

“So, first of all, let me assert my firm belief that the only thing we have to fear is…fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days.”- Franklin D. RooseveltMarch 4, 1933

Franklin D. Roosevelt spoke these words during his first inauguration at the depths of the Great Depression in 1933. The narrative taught in government schools is how FDR’s words invigorated the nation and inspired the people to show courage in the face of adversity. His terminology was that of a general leading his troops into battle.

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Former JP Morgan trader pleads guilty to manipulating US metals markets for years

I’m sure Jamie had no idea. Another conspiracy theory validated.

Via CNBC

  • John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count of conspiracy to commit wire fraud, price manipulation and spoofing.
  • Edmonds, a 13-year J.P. Morgan veteran, said that he learned how to manipulate prices from more senior traders and that his supervisors at the firm knew of his actions.

Pedestrians walk in front of the JPMorgan Chase headquarters building in New York.

An ex-J.P. Morgan Chase trader has admitted to manipulating the U.S. markets of an array of precious metals for about seven years — and he has implicated his supervisors at the bank.

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QUOTES OF THE DAY

“I think I could beat Trump, because I’m as tough as he is, and I’m smarter than he is. And by the way, this wealthy New Yorker actually earned his money. It wasn’t a gift from daddy.”

Jamie Dimon

“The problem with banker Jamie Dimon running for President is that he doesn’t have the aptitude or “smarts” & is a poor public speaker & nervous mess – otherwise he is wonderful. I’ve made a lot of bankers, and others, look much smarter than they are with my great economic policy!”

Donald Trump

“Central Bank arrogance is one of the main reasons why we should still be scared. As a former official at the NY Fed, Peter Fisher, recently noted, “The Fed has acknowledged no failures. All the experiments have been successful, every one: no failures, no negative side-effects, no perverse consequences, only diminishing returns.”

Albert Edwards

“You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out.”

Andrew Jackson

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Jamie Dimon was best-paid bank CEO last year — wait till you see who came in fourth

Via Marketwatch

JPMorgan Chase Co.’s JPM, -0.04% chief executive, Jamie Dimon, was the highest-paid CEO in the U.S. banking sector last year, snagging a tidy $28.3 million in total compensation, up 3.9% from the previous year, according to S&P Global Market Intelligence.

Bank of America Corp. BAC, -0.10% CEO Brian Moynihan came in second place with total compensation of $21.3 million, according to the data company, followed by Michael Corbat, CEO of Citigroup Inc. C, +0.08% , who took home $17.8 million.

The surprise: Fourth place went to Timothy Sloan of Wells Fargo & Co. Inc. WFC, -0.60% , who took home $17.5 million, even as his bank continued to slowly recover from a series of scandals involving the creation of unauthorized accounts and imposition of other products and fees on unsuspecting customers.

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A NATION BUILT ON LIES (PART 2)

In Part 1 of this article I detailed the damage done by the Deep State and the inevitability of another financial crisis destined to propel this Fourth Turning into its next most violent stage. Now I will examine whether Jordan Peterson’s rules for life can alleviate some of the pain headed our way.

Image result for tell the truth jordan peterson

Peterson’s reality-based assessment of our broken societal system has infuriated the social justice warriors and media propagandists whose narratives are based upon lies, misinformation, fake news, and a pliable dumbed down populace distracted by their techno-gadgets. The machinations of the Deep State (Wall Street cabal, Fed, captured politicians, shadowy billionaires, military industrial complex, surveillance agencies, corporate media) are dependent upon the masses believing their big lies and unquestioningly trusting their provably false narratives.

Telling the truth and demolishing these false narratives with facts is the only way to fight those who have chosen the side of evil. Remaining silent in the face of their lies allows tyranny to expand inexorably and fill the vacuum left by the dearth of courageous truth tellers.

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LIES, LIES & OMG MORE LIES

“There are three types of lies — lies, damn lies, and statistics.” – Benjamin Disraeli

Every month the government apparatchiks at the Bureau of Lies and Scams (BLS) dutifully announces inflation is still running below 2%. Janet Yellen then gives a speech where she notes her concern inflation is too low and she needs to keep interest rates near zero to save humanity from the scourge of too low inflation. I don’t know how I could survive without 2% inflation reducing my purchasing power.

This week they reported year over year inflation of 1.9%. Just right to keep Janet from raising rates and keeping the stock market on track for new record highs. According to our beloved bureaucrats, after they have sliced, diced, massaged and manipulated the data, you’ve experienced annual inflation of 2.1% since 2000. If you believe that, I’ve got a great real estate deal for you in North Korea on the border with South Korea.

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FOUNDATION AND EMPIRE: IS DONALD TRUMP THE MULE?

In Part One of this article I analyzed the similarities of Isaac Asimov’s Foundation Trilogy to Strauss & Howe’s Fourth Turning, trying to assess how Donald Trump’s ascension to power fits into the theories put forth by those authors. Now I will compare Trump to the most interesting character in Asimov’s classic – The Mule.

The Mule

“A horse having a wolf as a powerful and dangerous enemy lived in constant fear of his life. Being driven to desperation, it occurred to him to seek a strong ally. Whereupon he approached a man, and offered an alliance, pointing out that the wolf was likewise an enemy of the man. The man accepted the partnership at once and offered to kill the wolf immediately, if his new partner would only co-operate by placing his greater speed at the man’s disposal. The horse was willing, and allowed the man to place bridle and saddle upon him.

The man mounted, hunted down the wolf, and killed him. “The horse, joyful and relieved, thanked the man, and said: ‘Now that our enemy is dead, remove your bridle and saddle and restore my freedom.’ “Whereupon the man laughed loudly and replied, ‘Never!’ and applied the spurs with a will.”Isaac Asimov, Foundation

I had not thought about the Foundation Trilogy for decades, until someone recently mentioned it in a comment on my website. They pondered whether Trump’s arrival on the scene represented The Mule’s advent during the decline of the Galactic Empire. Trump’s numerous enemies would love to portray him as an evil mutant freakish warlord, bent on using his persuasion powers to mislead the populace into doing his bidding. I don’t necessarily see Trump as The Mule, but as a disrupting factor, disturbing the best laid plans of the establishment and helping reveal the hidden agendas of the Deep State.

Seldon’s science of psychohistory was outstanding at predicting the behavior of large populations but worthless in trying to predict what an individual might do. The emergence of the Mule, a mentalic mutant with an acute telepathic ability to modify the emotions of human beings, could not have been predicted by the Seldon Plan, focused as it was on the statistical movements of vast numbers of peoples and populations across the galaxy.

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NOT A GOOD SIGN

Trump would lose my backing pretty fucking quick if he picked this sociopath as his Treasury Secretary. You can’t drain the swamp by hiring alligators. I like Guliani as AG. I like Flynn at Defense. He needs Austrian Economics advisors in the economic positions. You can’t rail about the $20 trillion of debt and then hire debt peddlers as your advisors.

Trump Said To Consider Jamie Dimon For Treasury Secretary; Dimon Not Interested

Tyler Durden's picture

One week ago, when the prospect of a Trump presidency was “calculated” as being anywhere between 0% and 20% by so-called experts, we reported that Trump’s campaign finance chair, Goldman Sachs partner and Soros Fund management alum, Steven Mnuchin, was being positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.

Now, according to CNBC, Trump has decided to expand beyond just Goldman alumni, and is allegedly considering JPMorgan CEO Jamie Dimon as the next US Treasury Secretary.

Needless to say, we can only hope that this is an attempt to scare clicks by CNBC instead of the actual truth, because if Trump hopes that he can “drain a swamp” by hiring the swamp puppet master, he – and millions of his supporters – will be very disappointed.

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IT’S NOT THE BREXIT STUPID

Just over a week ago the world was coming unglued, as enough British citizens grew a pair and spit in the face of the EU establishment and global elite by voting to exit the EU. The fear mongering by central bankers and their puppet political hacks failed to deter people who have become sick and tired of being abused and pillaged by bureaucrats working on behalf of bankers and billionaires.

Stock markets around the world plummeted on Thursday and Friday. The world braced for another Black Monday. The phone lines were buzzing between central bankers around the world over the weekend as their banker constituents demanded relief. If one thing has been proven over the last seven years, its a coordinated effort between central bankers and Wall Street banks to rig the stock market higher can work over a short time period.

The titans of finance were able to once again confound short-sellers and the prophets of doom with a 5% surge from the Friday lows over the next week. It was surely a coincidence the Fed declared all Wall Street banks, safe, sound, and capable of buying back their stocks to the tune of billions early in the week.

These insolvent zombies were now free to borrow billions to buy back their overvalued stocks, destroying shareholder value, while boosting executive compensation. Poor Jamie Dimon is struggling to get by on his $27 million per year. The Wall Street banks obliged by immediately announcing multi-billion dollar buyback schemes to capitalize on the short-term trading mentality of the 30 year old MBA trading geniuses who bought the news without worrying about the actual value of the stocks they were buying.

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COMFORTABLY NUMB (Oldie but Goodie)

Originally published in November 2011.

Hello?
Is there anybody in there?
Just nod if you can hear me.
Is there anyone at home?
Come on, now,
I hear you’re feeling down.
Well I can ease your pain
And get you on your feet again.
Relax.
I need some information first.
Just the basic facts
Can you show me where it hurts?

Pink Floyd – Comfortably Numb

As I observe the zombie like reactions of Americans to our catastrophic economic highway to collapse, the continued plundering and pillaging of the national treasury by criminal Wall Street bankers, non-enforcement of existing laws against those who committed the largest crime in history, and reaction to young people across the country getting beaten, bludgeoned, shot with tear gas and pepper sprayed by police, I can’t help but wonder whether there is anyone home. Why are most Americans so passively accepting of these calamitous conditions? How did we become so comfortably numb? I’ve concluded Americans have chosen willful ignorance over thoughtful critical thinking due to their own intellectual laziness and overpowering mind manipulation by the elite through their propaganda emitting media machines. Some people are awaking from their trance, but the vast majority is still slumbering or fuming at erroneous perpetrators.

Both the Tea Party movement and the Occupy Wall Street movement are a reflection of the mood change in the country, which is a result of government overreach, political corruption, dysfunctional economic policies, and a financial system designed to enrich the few while defrauding the many. The common theme is anger, frustration and disillusionment with a system so badly broken it appears unfixable through the existing supposedly democratic methods. The system has been captured by an oligarchy of moneyed interests from the financial industry, mega-corporations, and military industrial complex, protected by their captured puppets in Washington DC and sustained by the propaganda peddling corporate media. The differences in political parties are meaningless as they each advocate big government solutions to all social, economic, foreign relations, and monetary issues.

There is confusion and misunderstanding regarding the culprits in this drama. It was plain to me last week when I read about a small group of concerned citizens in the next town over who decided to support the Occupy movement by holding a nightly peaceful march to protest the criminal syndicate that is Wall Street and a political system designed to protect them. My local paper asked for people’s reaction to this Constitutional exercising of freedom of speech and freedom of assembly. Here is a sampling of the comments:

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Saving the Banks and Fabulously Enriching a Few On the Back of the Real Economy

 Guest Post by Jesse

“Give a small number of people the power to enrich themselves beyond everyone’s wildest dreams, a philosophical rationale to explain all the damage they’re causing, and they will not stop until they’ve run the world economy off a cliff.”

Philipp Meyer

“Wall Street is not being made a scapegoat for this crisis: they really did this.”

Michael Lewis

“My daughter asked me when she came home from school, “What’s the financial crisis?” and I said, it’s something that happens every five to seven years.”

Jamie Dimon

“The greatest tragedy would be to accept the refrain that no one could have seen this coming, and thus nothing could have been done. If we accept this notion, it will happen again.”

Financial Crisis Inquiry Commission (2009–2011)

The US has been in a cycle of bubbles, busts, and crashes since at least 1995, and more likely since Alan Greenspan became the Chairman of the Federal Reserve in August, 1987.

The cycle is the same, only the depth and duration seems to change in a continuing ‘wash and rinse’ of the public money and the real economy.

It has become a machine for transferring income, wealth, ownership, and power to the very top.

This is not ‘the new normal.’   This is financial corruption and the erosion of systemic integrity.

Are there any markets that have not been shown to have been systematically manipulated, for years?

This is just institutionalized looting.


It Rubs the Lotion On Its Skin

Guest Post by Jesse

“It rubs the lotion on its skin, or else it gets the hose again.”

Buffalo Bill, The Silence of the Lambs

“Fed officials want to start raising the cost of your borrowing because they worry they’ve been giving you a free ride for too long with zero interest rates. We listen to Fed officials all of the time here at The Wall Street Journal, and they just can’t figure you out.”

Jon Hilsenrath, The Wall Street Journal

I see where Ben Bernanke is worried that the US is losing economic control of the world, and is dismayed at the prospect of ‘competing systems’ with the rise of an alternative development bank and currency regime led by the BRICS.

And the Fed’s friendly financial journalist mouthpiece Jon Hilsenrath asks why you are being so stubborn and stingy, and not out there spending. Are you being awkward or something?

You see, the Fed looks at the aggregate numbers, and from what they can tell from their models, people are saving just too darn much.

Perhaps if they paid more attention to median numbers and the broader public, they would see the skew in the distribution of income gains that have gained even greater momentum under their top down monetary regimes. And then they would know that the one percent has plenty of excess income and capital gains from the bubble in paper assets. And why Jamie Dimon just joined the ranks of the billionaires, while the median income continues to stagnate.

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