People who use this bank must be short on brains and talent. These people are fleecing the small investor and destroying an orderly market based on market forces, by manipulating the price of commodities to their advantage via illegal naked shorting. But when it comes to holding their feet to the fire, nobody's home, or has time, or blows us off.
The price of commodities is going through the roof because of JPM managing risk by playing heads I win, tails you lose with futures, and shorts. How does that happen that trying to LOWER prices creates higher ones?
Simple. China steps in with both feet, and you get commodity price blowback just like we did in the seventies. Only instead of stagflation, you have Chinese and Indian dragflation.
JPM shorts naked, meaning they never deliver the shorted commodity. They play the float--which means there are phantom shares and contracts floating around diluting a commodity or a stock, that never settle.
If it were a check writing scheme, and you wrote a check on Monday hoping your salary hits the bank by Friday, you'd call it kiting, and you'd wind up in jail or paying penalties. Not these guys. If you can't write a leveraged piece of real estate paper, well then isn't manipulating stock you don't own, and never take possession of, just as bad?
These clowns do this ALL THE TIME, and they've the watchdogs, like CFTC, in their back pockets.
The boys at CFTC were supposed to meet today and develop a schedule for position limits. They got blown off again for who knows why.
I know why. The longer they delay, the longer commodity prices take a hit from naked shorts, and JPM can exit its losing position.
What bullsh*t. It won't be long before someone pays a visit to headquarters JPM with an angry agenda. You can't touch the watchdogs, they're with the gubmint.
But wouldn't you like to see someone ask these bastids to step outside?
We're not getting anywhere playing the legal card.
"What bullsh*t. It won't be long before someone pays a visit to headquarters JPM with an angry agenda. You can't touch the watchdogs, they're with the gubmint." Does the gubmint need to print more worthless money?