The following post comes to us courtesy of a blog called, "Banking Horror Stories" who was forwareded the article called, JPMorgan Responsible for the Destruction of U.S. Financial System published in The Market Oracle, a UK financial publication. It was the author of this post who I take the title of this blog from.
It is always interesting to see and hear from those overseas. They have a totally different prospective, have access to more news that is not sanitized as are most stories in the U.S. To see the passion and thoughts of those not having to live in this hell we are living in, is also interesting. It is perhaps easier for someone outside to see more of the truth and reality
The piece is rather long but is worth the read..
The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner.
.Read the full story...click here
The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings. The ugliest hidden activity for the JPMorgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funneled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the USGovt, given the privilege of insider trading in unspeakable proportions.
You might also want to visit"Banking Horror Stories". Also be sure to visit our sister site, JPMorgan666.comwww.JPMorgan666.com. It is much more active now that we have a volunteer, who goes by the name - Nickle - who is posting frequently. I welcome his participation, efforts and his writing.
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2 COMMENTS:
GS may be set up to take the fall by and for the rest of your oligarchy pretty soon, so people would think justice prevails, meanwhile the same system continues.
People love public executions.
Even as the CFTC is meeting later this month to establish position limits in the gold, silver, and other precious metals' markets, it could be none other than the CFTC's core banks, and Mr. Gensler's former Goldman bosses, that form the very core of the biggest market manipulation collusion syndicate in the history of the commodity markets.
Initially we thought that the manipulation of the gold market was undertaken as a coordinated profit scheme by certain bullion banks, like JPMorgan, Chase Bank, and Goldman Sachs, and that it violated federal and state anti-trust laws. But we soon discerned that the bullion banks were working closely with the U.S. Treasury Department and Federal Reserve in a gold cartel, part of a broad scheme of manipulation of the currency, precious metals, and bond markets.
As an executive at Goldman Sachs in London, Robert Rubin developed an idea to borrow gold from central banks at minimal interest rates (around 1 percent), sell the bullion for cash, and use the cash to fund Goldman Sachs' operations. Rubin was confident that central banks would control the gold price with ever-more leasing or outright sales of their gold reserves and that consequently the borrowed gold could be bought back without difficulty. This was the beginning of the gold carry trade.
http://tinyurl.com/ygma3pm
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