JP Morgan Chase & Co (JPM)

[BottomBounce]

$JPM Total Debt (mrq) 765.76B

[nowwhat2]

So Financials center-stage trw then.....

Friday


Next days' close
Monday


Up another 2.5 % ?
Earnings public tomorrow morn (Tuesday) pre-opening bell.....


GS to revisit / test its' ATH ?
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gs&x=53&y=18&time=100&startdate=1%2F1%2F2020&enddate=8%2F23%2F2021&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9


DJIA to break out ?....Financials out trw morn pre-opening bell....





Currently S&P F's down 2.......Boy, are THOSE ever prone to spiking !

[BallsD33pTrader]

Send pics

[nowwhat2]

Yep, man !.....Sho enuf.....

[tw0122]

Court Documents Reveal that JPMorgan Chase Was Entangled in Another Giant Ponzi Scheme at the Same Time It Was Propping Up Bernie Madoff’s Ponzi Scheme
By Pam Martens and Russ Martens: July 6, 2021 ~

Jamie Dimon, Chairman and CEO of JPMorgan Chase

After reading the documents released by the Justice Department in January 2014 in connection with JPMorgan Chase’s settlement over its role in the Bernie Madoff Ponzi scheme, the Los Angeles Times asked this question: “Bernie Madoff: Was he part of the JPMorgan ring, or was JPMorgan part of his ring?” Given the facts of the case, the question was more than fair.

In January of 2014 JPMorgan Chase paid $2.6 billion in fines and restitution, signed a deferred prosecution agreement with the Justice Department and walked away from further criminal charges over its 22-year involvement with Bernie Madoff’s Ponzi scheme. The Madoff Ponzi scheme was the largest in U.S. history with fictitious investment account statements showing his clients held $64.8 billion in securities with his firm. (Madoff never actually bought any stocks or other securities for his investment clients.)

The Madoff case commanded headlines for years. But a recent review of federal court filings by Wall Street On Parade shows that at the same time that JPMorgan Chase was deeply involved with Madoff, it was simultaneously entangled with another multi-billion dollar Ponzi scheme being orchestrated by Thomas Petters. JPMorgan Chase’s involvement in the Petters case has been largely ignored by mainstream media.

Both the Petters’ Ponzi scheme and the Madoff Ponzi scheme collapsed in 2008 during the financial crash on Wall Street. The Petters’ fraud collapsed after one of his employees contacted law enforcement. Federal agents raided Petters’ offices and arrested him on October 3, 2008. Madoff confessed to his sons in early December 2008 and he surrendered to Federal authorities on December 11, 2008 – just a little more than two months after the arrest of Petters.

On June 29, 2009 Madoff was sentenced to 150 years in federal prison. Madoff died on April 14 of this year in the medical facility of the federal prison in Butner, North Carolina.

In December 2009 a Minnesota jury found Petters guilty on all 20 counts of wire fraud, mail fraud, money laundering and conspiracy. Petters is serving a 50-year sentence in federal prison in Leavenworth, Kansas.

How is it possible that the largest federally-insured bank in the United States, with thousands of employees engaged in risk management, anti-money laundering and compliance, could become involved in two of the largest Ponzi schemes in U.S. history – over the same span of time? (For what JPMorgan Chase has been up to since these Ponzi schemes were revealed, see JPMorgan Chase Admits to Two New Felony Counts – Brings Total to Five Felony Counts in Six Years – All During Tenure of Jamie Dimon.)

In the Madoff matter, JPMorgan Chase used unaudited financial statements and skipped the required steps of bank due diligence to make $145 million in loans to Madoff’s business, according to Irving Picard, the Trustee of the Madoff victims’ fund. Lawyers for the Trustee wrote that from November 2005 through January 18, 2006, JPMorgan Chase loaned $145 million to Madoff’s business at a time when the bank was on “notice of fraudulent activity” in Madoff’s business account and when, in fact, Madoff’s business was insolvent. The reason for the JPMorgan Chase loans was because Madoff’s business account was “reaching dangerously low levels of liquidity, and the Ponzi scheme was at risk of collapsing.” JPMorgan, in fact, “provided liquidity to continue the Ponzi scheme,” according to Picard.

JPMorgan Chase and its predecessor banks also extended tens of millions of dollars in loans to Norman F. Levy and his family so they could invest with the insolvent Madoff. According to Picard, Levy had $188 million in outstanding loans in 1996, which he used to funnel money into Madoff investments. Picard’s lawyers wrote in court filings that JPMorgan Chase (JPMC) “referred to these investments as ‘special deals.’ Indeed, these deals were special for all involved: (a) Levy enjoyed Madoff’s inflated return rates of up to 40% on the money he invested with Madoff; (b) Madoff enjoyed the benefits of large amounts of cash to perpetuate his fraud without being subject to JPMC’s due diligence processes; and (c) JPMC earned fees on the loan amounts and watched the ‘special deals’ from afar, escaping responsibility for any due diligence on Madoff’s operation.”

A critical piece of evidence against JPMorgan was that despite funneling loans to both Madoff and Levy, the bank “advised the rest of its Private Bank customers not to invest with Madoff,” according to Picard.

On paper, according to Picard, Levy was worth $1.5 billion in 1998. He was such an important customer to JPMorgan and its predecessor firms that he was given his own office at the bank – a situation that perhaps fueled the Los Angeles Times’ question of just who was a part of whose gang.

What was happening in Madoff’s account was so unprecedented at a federally-insured bank that it is impossible to reconcile it with a legitimate compliance department. Picard told the court that “during 2002, Madoff initiated outgoing transactions to Levy in the precise amount of $986,301 hundreds of times — 318 separate times, to be exact. These highly unusual transactions often occurred multiple times on a single day.”

That kind of activity should have generated legally-mandated Suspicious Activity Reports (SARs) filed with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). But even after another bank detected the activity in the late 90s and reported the transactions to FinCEN, JPMorgan Chase and its predecessor banks failed to file their own mandated SARs. The bank not only allowed the activity to continue but allowed it to increase dramatically in dollar terms.

While Madoff at least had some credentials that might justify a banking relationship at JPMorgan Chase (he was the previous Board Chairman of the Nasdaq stock market and served on an advisory committee at the Securities and Exchange Commission) Thomas Petters had a record of convictions for forgery, larceny and fraud.

Notwithstanding that criminal history, according to the court-appointed receiver in that case, Douglas Kelley, Petters moved more than $83 million in Ponzi cash through his JPMorgan accounts between 2002 and 2007. According to Kelley’s court filings, JPMorgan loaned Petters large sums of money and facilitated his $426 million purchase of Polaroid Corp. even though it knew, or should have known, of his run-ins with the law in the past. According to Kelley’s lawsuit, JPMorgan acted as an adviser to Polaroid in the deal and provided a $185 million credit facility, receiving $40 million in fees for its work.

Kelley wrote in his lawsuit that “During the course of its due diligence, [JPMorgan] uncovered or should have uncovered numerous red flags that should have put [JPMorgan] on notice of the Petters Ponzi scheme.” Kelley said that the fees that the bank was going to earn on the transaction gave it “an incentive to ignore red flags that would have revealed the massive Ponzi scheme that Petters used to fund the Polaroid purchase.”

After years of litigation, Kelley and the bankruptcy trustee for Petters’ various businesses reached a settlement with JPMorgan Chase on April 25, 2018 according to a court document. The parties involved wrote to the court that they had “voluntarily participated in confidential mediation with Robert A. Meyer on May 17, 2017 and continuing into October 2017. After extensive negotiations, the mediator presented a proposal of global settlement which was accepted by all parties.”

That settlement looks like JPMorgan got off on the cheap considering what Kelley had alleged in his lawsuit. According to the settlement document filed with the court:

“The settlement includes two separate settlements: the Receiver Settlement Agreement and the Trustees Settlement Agreement. Under the Receiver Settlement Agreement, the JPMC Defendants agreed to pay $2,500,000.00 in settlement of the Receiver claims. Under the Trustees Settlement Agreement, the JPMC Defendants agree to pay $30,725,000.00 to settle the Trustees’ Joint Adversary Proceedings and the PGW adversary proceeding.”

Particularly eyebrow-raising in that settlement document is the revelation on page 10 that Kelley or his office negotiated a release of criminal charges against JPMorgan Chase from the U.S. Attorney’s Office, District of Minnesota, writing that it was a “material inducement” to get the settlement deal with JPMorgan Chase. (Since when does a receiver step into the shoes of a lawyer for JPMorgan Chase and negotiate a waiver of criminal charges with the Justice Department?)

While all of this was playing out in federal court in Minnesota, the hedge fund Ritchie Capital Management LLC brought suit against JPMorgan Chase and others in the same court to recoup $189 million in funds it had lost to Petters and his related entities. Ritchie brought claims against JPMorgan for aiding and abetting tortious conduct; fraudulent transfers; breach of fiduciary duty; negligence; and unjust enrichment.

The Ritchie case was dismissed by Minnesota U.S. District Court Judge Donovan Frank on December 14, 2017. It was partially reinstated by the 8th Circuit Court of Appeals in June of last year. Just last week the same Judge, Donovan Frank, tossed the suit again, this time writing that the plaintiffs lacked standing to bring the allegations and had failed to state an actionable claim.

Wallstreetonparade.com

[Bountiful_Harvest]

https://www.cnbc.com/2021/06/14/jamie-dimon-jpmorgan-is-hoarding-cash-because-very-good-chance-inflation-here-to-stay.html

[Unicorns r Clowns]

So i take it you're not a dimon fan? Just kidding. Like i said before his comeuppance is due. Ya never know, maybe he'll have a come to JC moment before it gets to that.

[Saving Grace]

Right on time, Gitmo massive expansion with another Delta force camp currently being filled with crooked bank executives.

Cocaine and fentanyl drug smuggler Jamie Diamond is grinding his teeth as he knows what's coming to him.

[Saving Grace]

Pain is coming for JPM and all of Wall Street Central banks.

[Saving Grace]

Wall Street Banks are finished. Quantum finance system replacing Fiat system. China Central Banks are now bankrupt and why wall street banks are robbing value stocks.

Crypto currency will fail as the Gold Standard is coming back.

Massive food shortage becoming a reality and new norm.

[Saving Grace]

The Fed is bankrupt! Quantum financial system evolving which will put an end to ALL West Central Banks.

[Unicorns r Clowns]

Not gonna happen i say. Jamie will just run to his buddies at the fed and ask em to beg joe for a capital infusion...i meant bailout.

[Saving Grace]

$JPM JPMorgan is going to cave fast and hard once it goes.

These scam bank rip offs are about to pay the price, dearly and any short positions are going to be what finishes off the banks.

Margin calls will either have to be covered with gold or banks assets.

Bitcoin, crypto's, and Fiat cash will not be accepted to cover short positions.

Black Rock Overseeing the shift and what will be the crash of the Central banking system.

[Unicorns r Clowns]

Not even a month since jpm opened its coin desk and things are already getting screwed up in the crypto market. They couldnt already have started being typical jpm could they?

[Capt_Smith77]

Covering now... GLTA

[Capt_Smith77]

Heavily shorting here GLTA

[Saving Grace]

$JPM - Quantum financial system reset within a week or two.

Everything will change. Each country who's allowed to join will have their currency based on their own GDP.

Many are going down including the worlds largest cocaine and fentanyl smuggler. China central banks crashed with the 3 Gorges dam gone with 2 more dams to the north.

Big changes coming with banking disasters underway. The stock market won't crash because equity is safe in the market but west central banks will be the ones crashing.

National Banks and Credit Unions will be the new norm. Be prepared.

[Unicorns r Clowns]

Will never happen. These guys are too well connected in the current corrupt system.

Ultimately, he will be held accountable, by the highest of all authorities!!!

[Saving Grace]

$JPM New JP Morgan notes are JUNK! Based on no assets to back up the junk notes.

Investors should be willing to accept the risk of losing some or all of their principal and the risk that no Contingent Interest Payment may be made with respect to some or all Review Dates.
· Investors should also be willing to forgo fixed interest and dividend payments, in exchange for the opportunity to receive Contingent Interest Payments.
· The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to as JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any payment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes.

[Saving Grace]

When will drug smugglers like Diamond, of JP Morgan be held accountable for their crimes?

This scam bank gets away with to much severe criminal activity.

The people want to see Jamie Diamond rot behind bars for his horrific crimes against humanity.

[nowwhat2]

JPM / XFN / robust correlation

[Unicorns r Clowns]

Why do members of the $coop board think jpm still has to pay tens of billions for wmb assets they already bought from the fdic back in 2008?

[InkynClyde]

Ultimate pain trade is coming. When potato brigade lets these "bankers" buy their own stocks and issue themselves big fat dividends.
Good times. Price discovery has been out the window for decades anyways.

[conix]

Selling covered calls on JPM is attractive at these high prices.

[BottomBounce]

$JPM https://unearthed.greenpeace.org/2020/09/28/western-banks-finance-companies-responsible-for-overfishing-tuna/

[fourfirs]

Chart of a champion

[Investors3]

Bitcoin's Value Is All in the Eye of the 'Bithodler'
February 20 2021 - 08:29AM
Dow Jones News
By Paul Vigna

https://ih.advfn.com/stock-market/NYSE/jp-morgan-chase-JPM/stock-news/84390578/bitcoins-value-is-all-in-the-eye-of-the-bithodler

The total market value of bitcoin crossed $1 trillion on Friday as the price surged above $55,000.

Passionate backers are fond of saying the digital currency is on a trajectory "to the moon." For the less faithful, determining bitcoin's value is much more complicated.

Bitcoin has skyrocketed since the beginning of 2020 when it was trading around $7,000. A steady stream of institutional demand has been credited with driving much of that rally. Billionaire hedge-fund managers disclosed purchases: Paul Tudor Jones called it a " great speculation." A handful of companies, most notably Tesla Inc., recently started buying it for their corporate reserves.

Yet determining a fair value for bitcoin is much harder than valuing stocks, investors say, both because bitcoin isn't a traditional asset and because much about it is misunderstood.

"It's a difficult asset class to value," said J.P. Morgan analyst Nikolaos Panigirtzoglou, who estimates the value of one bitcoin could be as little as $11,000 or as much as $146,000.

The low end of that range is what it currently costs in computing power to create a bitcoin, he said, while the high end marks bitcoin's estimated value if its market capitalization were to match that of gold. Almost any price in between could be justified because of the intense interest from retail buyers, he added.

Bitcoin's backers are a passionate bunch, less concerned with fundamental analysis than a fervent belief that bitcoin is the future. That ethos is summed up in a single word: hodl, a misspelling of "hold" from an impassioned 2013 post on a bitcoin forum by a trader during one of bitcoin's periodic crashes. It means always keep buying, no matter what, and never sell. To these people, bitcoin's value is limitless.

To others, determining bitcoin's value is tricky. Bitcoin has properties that make it appear more like a commodity -- indeed, the Internal Revenue Service classifies it as such -- and properties that make it appear more like a currency, as Japan's Financial Services Agency classifies it.

Yet it really isn't either. Bitcoin is a software program designed to facilitate online exchange, to mimic physical cash, without the need for a bank or other middleman to guarantee the exchange.

One of the most popular arguments for bitcoin? It's a modern version of gold and a store of value. That belief rests mainly upon one specific feature of bitcoin's programming, a limit of 21 million placed on the number of bitcoins that could be created. That, its backers argue, makes bitcoin a scarce commodity and a deflationary rather than inflationary asset, at least compared with government-backed currencies.

Bitcoin, however, does have its own rate of inflation, albeit an entirely predictable one that is designed to decrease in the long run. Currently, 6.25 bitcoins are created roughly every 10 minutes, and nearly 19 million of the intended 21 million bitcoins are already in circulation. That results in a current inflation rate of roughly 2.2%, according to Bitcoin.com.

For comparison's sake, that is higher than both the Federal Reserve's stated goal of 2% and the most recent Consumer Price Index rate of 1.4%.

Bitcoin's inflation rate will drop to zero some time around the year 2140 when the last of the 21 million bitcoins are minted.

The effective inflation rate is likely higher. Nearly 80% of bitcoin's supply is illiquid, analytic firm Glassnode estimates, held by long-term investors who won't sell. Only about 4.2 million bitcoins are in circulation. That small supply is currently far outstripped by demand.

Another way of analyzing these dynamics, and one popular among bitcoiners, is the stock-to-flow model, a framework used to value commodities like gold and silver, made popular on social media by an anonymous trader dubbed Plan B.

Stock to flow measures the ratio of existing stockpiles to production. It is essentially another way of stating bitcoin's inflation rate. By this model, bitcoin should trade more like gold and silver, Plan B argued. To the trader's credit, back in 2019 Plan B predicted that the model implied bitcoin should have a $1 trillion market value and trade at $55,000 some time after May 2020. That prediction was fulfilled Friday.

But if bitcoin is supposed to be a gold alternative, its price is already in line with gold, J.P. Morgan's Mr. Panigirtzoglou argues. Bitcoin's market value is around $1 trillion, and the market value of privately held gold is around $2.7 trillion, he estimates. But in a portfolio that also takes into account volatility, like one managed by a professional money manager or corporate treasurer, bitcoin's much higher volatility means that the two would essentially be evenly weighted, he said.

Because portfolio managers and corporate treasurers need to take that volatility into account, he said he doesn't expect much more institutional money to be invested in bitcoin unless its price tumbles.

"For institutional investors, it is unrealistic here to expect them to ignore the volatility of bitcoin," he said.

To that point, a Gartner survey last week found only 5% of finance executives plan to hold bitcoin as a corporate asset in 2021. Moreover, 84% said they never intend to buy bitcoin.

Meanwhile, the highly publicized flurry of institutional interest in bitcoin may be smaller than it appears. Since September, only about $11 billion of professional money has entered the bitcoin market, Mr. Panigirtzoglou estimates. That isn't enough to drive a $800 billion change in total value and instead suggests that the attention given to institutional investors has drawn in more retail interest, he said.

Therefore, what is driving bitcoin's price isn't some fundamental value proposition, but instead simple retail-driven momentum trading, Mr. Panigirtzoglou said.

There is a simpler way of defining bitcoin's fundamental value, according to Steve Hanke, a professor of applied economics at Johns Hopkins University. Most forms of "money," everything from commercial bank deposits to Treasury bills, pay some amount of interest, no matter how small. Bitcoin doesn't. And while government-issued money doesn't pay interest, it is a universally recognized means of payment, unlike bitcoin.

"Bitcoin's fundamental value is zero," Mr. Hanke said. "It's almost all speculative."

Write to Paul Vigna at [e-mail]

[conix]

JPM Chart is a beast


LOL

[Passs]

Beast

[Bigstud is here]

Lets go up up up.

[Saving Grace]

Pant's down no Fiat reset. No Dark Winter!

[Spicknspan]

Chart looks great for a change.

[Saving Grace]

Manipulation drives this scam and massive cargo ship loads of cocaine and fentanyl trafficked on JP Morgan owned ships.

Scam banks like this pos are what destroyed our inner cities.

[Saving Grace]

$JPM Checks and balances. Flash crash? Stop manipulation or be manipulated. It's that simple. Basic materials, metals and mining go down, the bank goes down.

[oilin07]

Obama administration turned a blind eye

[tw0122]

JPMorgan Chase Admits to Two New Felony Counts – Brings Total to Five Felony Counts in Six Years – All During Tenure of Jamie Dimon
By Pam Martens and Russ Martens: September 29, 2020 ~

As the attention of Americans is focused on surviving the pandemic and the pivotal presidential debate tonight, William Barr’s Justice Department decided to quietly hand an early Christmas present to a notorious Wall Street bank.

Under the richly compensated leadership of Chairman and CEO Jamie Dimon, JPMorgan Chase, the largest bank in the United States, has admitted to an unprecedented five criminal felony counts since 2014 and put on criminal probation three times. Dimon notched two of those felony counts in his belt today. (That’s five felonies more than the bank pleaded guilty to in its prior 100 years of existence. Translation: this is not normal even on Wall Street.)

The bank has agreed today to pay criminal fines and admit to two felony counts of wire fraud for manipulating (spoofing) trading in the precious metals and U.S. Treasury markets. Why the Justice Department is bringing only two counts when its own charging document indicates that traders engaged in “tens of thousands of instances of unlawful trading in gold, silver, platinum, and palladium…as well as thousands of instances of unlawful trading in U.S. Treasury futures contracts and in U.S. Treasury notes and bonds…” is one more sign that this Justice Department is egregiously failing the American people and making a mockery of the word “justice.”

This Justice Department is not only defining deviancy down; it’s defining outrage down. Where is the U.S. Attorney’s voice announcing his resignation over this sellout of a deal?

The routine of charging the largest bank in the United States with felonies and placing it on a three-year probation is now so yawn-worthy at the U.S. Department of Justice that the prosecutors didn’t even bother to hold the usual press conference today to announce the charges and settlement. The Justice Department simply issued a press release and a Deferred Prosecution Agreement which both sides had already signed.

Sweeping the whole mess up and tying it with a tidy bow meant that the Securities and Exchange Commission and Commodity Futures Trading Commission also had to agree to the settlement, which they obligingly did.

Representing JPMorgan Chase as outside counsel were lawyers from Kirkland & Ellis (the law firm with which Attorney General William Barr was associated before coming to the Justice Department) and lawyers from Sullivan & Cromwell, where SEC Chairman Jay Clayton was a partner before taking the lead at the SEC. (See SEC Nominee Has Represented 8 of the 10 Largest Wall Street Banks in Past Three Years.)

The deal is so sweet for criminal recidivist JPMorgan Chase that it notes that “an independent compliance monitor was unnecessary” despite also revealing that the bank “did not voluntarily and timely disclose to the Fraud Section and the Office the conduct described in the Statement of Facts.” It was required to do that under its prior probation agreement that ended in January of this year.

Monetary fines were also imposed, consisting of the following: a criminal monetary penalty of $436,431,811; a criminal disgorgement amount of $172,034,790; and a victim compensation payment of $311,737,008. That brings to more than $37 billion the total that JPMorgan Chase has paid to settle allegations of fraud and ripping off Americans since the financial crash of 2008.

In a properly functioning Justice Department and bank regulatory system that genuinely wants to ensure the safety and soundness of America’s deposit-taking banks, Dimon would have been forced out when the bank admitted guilt to the first two felony counts in 2014 for its dubious role in handling the business bank account of Ponzi-schemer Bernie Madoff. If not then, perhaps the following year when it pleaded guilty to its role in a bank cartel (actually called “The Cartel”) that rigged the foreign currency market. In the Forex matter, the bank admitted guilt to one felony count and received a deferred prosecution agreement along with other banks involved in the matter.

In the rigging of the foreign currency market case, the Justice Department announced that agreement on May 20, 2015 but the U.S. District Court did not approve the agreement until January 2017. Thus, the clock did not start ticking on the three-year probation period until then. That meant that JPMorgan’s probation period began in January 2017 and ended in January of this year.

To be charged with two more felony counts in the same year your three-year probation ends is the strongest proof that Wall Street has become a fraud monetization system where deferred prosecution agreements and fines are simply the cost of doing business on Wall Street.

The Justice Department brought racketeering charges against three of the precious metals traders at JPMorgan in September of last year. It was the first-time veterans on Wall Street could ever remember a major U.S. bank having its traders charged with racketeering. The Board of Directors of JPMorgan Chase must have taken that as some kind of great branding for the bank: the Board gave Dimon a 1.6 percent raise for the year to a total compensation of $31.5 million.

https://wallstreetonparade.com/2020/09/jpmorgan-chase-admits-to-two-new-felony-counts-brings-total-to-five-felony-counts-in-six-years-all-during-tenure-of-jamie-dimon/

[CMDFundamenntal]

Please check out this video benchmarking JPM against some of its large competitors.

Very interesting numbers from a fundamental perspective.

[tw0122]

Banks in trouble:
The market would seem to have spoken clearly on just how “strong” these banks are. Since the first trading day of the year, January 2, to yesterday’s closing price, here’s the factual reality of just how much common equity capital these banks have bled: Citigroup is down a stunning 48 percent, losing almost half of its common equity capital; Bank of America has lost 35 percent; while JPMorgan Chase, the bank that has perpetually bragged about its “fortress balance sheet,” is down 34 percent year-to-date. And the U.S. is only seven months into what could become a prolonged economic downturn

https://wallstreetonparade.com/2020/09/shhh-dont-tell-the-fed-these-wall-street-banks-have-tanked-34-to-48-percent-year-to-date-the-fed-thinks-theyre-a-source-of-strength/

[tw0122]

A nice pullback before elections then last 2 weeks of October into elections a big market rally

[tw0122]

JPM runs the show....the markets green green into elections

According to JPMorgan Chase & Co.’s latest 13F filing for the period ending June 30, 2020, it owns $518 billion in publicly traded stocks and ETFs (Exchange Traded Funds), more than 29 times what Softbank reported on its last 13F. Among the big tech holdings of JPMorgan Chase & Co. are the following: $15.3 billion in Microsoft; $11.77 billion in Apple; $10.5 billion in Amazon; $8.5 billion in Alphabet; $3.7 billion in Facebook; and $2.3 billion in Netflix. JPMorgan Chase & Co.’s portfolio also includes a number of ETFs that are heavily weighted in the same handful of big tech names. The bank’s portfolio includes $2.9 billion in the iShares Growth ETF, whose largest holdings are Apple, Microsoft, Amazon, Facebook, and Alphabet, making up 38 percent of the ETF as of September 4; $1.58 billion in the iShares Russell 1000 Growth ETF, whose largest holdings are also Apple, Microsoft, Amazon, Facebook and Alphabet – also making up 38 percent of the ETF. JPMorgan Chase & Co.’s portfolio also includes $20.9 billion in the SPDR S&P 500 ETF Trust, whose largest five holdings are – wait for it – Apple, Microsoft, Amazon, Facebook and Alphabet – making up a cool 23.28 percent of the ETF which has a market value of $301.7 billion as of September 3. The $518 billion does not appear to be the full picture of JPMorgan Chase & Co.’s stock portfolio holdings. The bank notes on its 13F filing that Russell Investments Group, Ltd. is also making a separate filing on its behalf. Try as we might, we could not find that filing on the SEC’s website. https://wallstreetonparade.com/2020/09/the-untold-story-of-the-nasdaq-whale-softbanks-a-guppy-jpmorgans-a-whale/

[tw0122]

Markets will go green into elections as JPM backs Mitch McConnell. Follow the money trail. JPM runs over $2 trillion in derivatives and one of the biggest holders of Microsoft Apple Etc.’

https://wallstreetonparade.com/2020/09/jamie-dimon-and-jpmorgans-pac-are-financially-supporting-mitch-mcconnells-reelection-bid/

[10nisman]

Nearly 3 Trillion money laundering scheme. They're finished. It will be prison not fines. JP Morgan days are over.

Thank you for the funniest post of the year.

[Saving Grace]

Nearly 3 Trillion money laundering scheme. They're finished.

It will be prison not fines.

JP Morgan days are over.

Now we know why Buffet sold everything and ran.

[tw0122]

JPMorgan Chase was involved in moving illicit funds for the fugitive, Jho Low, involving the notorious looting of public funds in Malaysia. Jho Low has been accused by multiple jurisdictions of playing a key role in the embezzlement of more than $4.5 billion from a Malaysian economic development fund, 1MDB. JPMorgan Chase moved $1.2 billion in money for Jho Low from 2013 to 2016, according to the report.

The ICIJ bombshell includes the charge that JPMorgan also “processed more than $50 million in payments over a decade, the records show, for Paul Manafort, the former campaign manager for President Donald Trump. The bank shuttled at least $6.9 million in Manafort transactions in the 14 months after he resigned from the campaign amid a swirl of money laundering and corruption allegations spawning from his work with a pro-Russian political party in Ukraine.”

More troubling activity at JPMorgan Chase includes the following, according to ICIJ investigators:

“JPMorgan also moved money for companies and people tied to corruption scandals in Venezuela that have helped create one of the world’s worst humanitarian crises. One in three Venezuelans is not getting enough to eat, the UN reported this year, and millions have fled the country.

“One of the Venezuelans who got help from JPMorgan was Alejandro ‘Piojo’ Isturiz, a former government official who has been charged by U.S. authorities as a player in an international money laundering scheme. Prosecutors allege that between 2011 and 2013 Isturiz and others solicited bribes to rig government energy contracts. The bank moved more than $63 million for companies linked to Isturiz and the money laundering scheme between 2012 and 2016, the FinCEN Files show…”

Wall Street likes to brag about its “KYC” rule (Know Your Customer). But the ICIJ investigators reveal that JPMorgan Chase paid little attention to that rule. The report found this:

“Take the case of a mysterious shell company called ABSI Enterprises. ABSI sent and received more than $1 billion in transactions through JPMorgan between January 2010 and July 2015, the FinCEN Files show.

“This amount included transactions through a direct bank account with JPMorgan, which ABSI closed in 2013, and through so-called correspondent banking arrangements, in which a bank with significant U.S. operations, such as JPMorgan, allows foreign banks to process U.S. dollar transactions through its own accounts.

“Compliance watchdogs based at the bank’s Columbus, Ohio, operations hub decided to try to figure out ABSI’s actual owner in 2015 after a Russian news site reported that a similarly-named shell company — which JPMorgan’s records indicated was the parent of ABSI — was linked to an underworld figure named Semion Mogilevich.

“Mogilevich has been described as the ‘Boss of Bosses’ of Russia mafia groups. When the FBI put him on its Top Ten Most Wanted list in 2009, it said his criminal network was involved in weapons and drug trafficking, extortion and contract murders. The chain-smoking, beefy Ukrainian’s signature method of neutralizing an enemy, The Guardian once reported, is the car bomb.

“The records show the compliance officers searched in vain through their files on the shell company, unable to determine who was behind the firm or what its true purpose was.

“While those details still remain unclear, JPMorgan had plenty of reasons to examine ABSI years earlier: it operated as a shell company in Cyprus, considered a major money laundering center at the time, and it was directing hundreds of millions of dollars through JPMorgan…

https://wallstreetonparade.com/2020/09/3-count-felon-jpmorgan-chase-caught-laundering-more-dirty-money/

[Saving Grace]

Warren Buffet dumps JP Morgan JPM, Wells Fargo et al.

https://ih.advfn.com/stock-market/NYSE/wells-fargo-WFC/stock-news/83079084/warren-buffetts-berkshire-hathaway-unloads-bank-st

[NYBob]

Berkshire Hathaway filed its latest Form 13F on Aug. 14, 2020.
Berkshire has exited airlines, Goldman Sachs, and Occidental Petroleum.
Increased positions include the Store Capital REIT, grocery chain Kroger, and Canadian oil and gas company Suncor Energy.
Reduced Banking and Financial Services Exposure
Comparing 13F filings for Q2 20201? and Q1 20203? reveals that Berkshire cut its holdings of several banking and financial services stocks. Among these were, with the new share holdings and values as of the end of Q2:


Wells Fargo & Co. (WFC): down by 85.6 million shares, or 26%, to 237.6 million shares ($6.1 billion).
JPMorgan Chase & Co. (JPM): down by 35.5 million shares, or 62%, to 22.2 million shares ($2.1 billion).
PNC Financial Services Group (PNC): down by 3.85 million shares, or 42%, to 5.35 million shares ($563 million). In Q1 2020, Berkshire had increased its holdings of PNC.4?
M&T Bank Corp. (MTB): down by 846 thousand shares, or 16%, to 4.54 million shares ($472 million).
Bank of New York Mellon Corp. (BNY): down by 7.4 million shares, or 9%, to 72.4 million shares ($2.8 billion).
US Bancorp (USB): down by 10.5 million shares, or 7%, to 132 million shares ($4.9 billion).
Visa Inc. (V): down by 575 thousand shares, or 5%, to 10 million shares ($1.9 billion).
Mastercard Inc. (MA): down by 370 thousand shares, or 7%, to 4.6 million shares ($1.3 billion).
Goldman Sachs Group Inc. (GS): down by 1.9 million shares, or 100%, after exiting most of this position in Q1 2020.4?
Bullish on Bank of America
Berkshire maintained a 925 million share stake in Bank of America Corp. (BAC).3? 1? Valued at $22.0 billion as of the end of Q2 2020, this remains Berkshire's second-largest equity position behind Apple Inc. (AAPL), at $89.4 billon.1?

Other Notable Moves
After financing the acquisition of Anadarko Petroleum by Occidental Petroleum Corp. (OXY),5? Berkshire eventually received 18.9 million common shares of Occidental, worth $219 million as of the end of Q1 2020.3? This position was sold in Q2 2020.

During Berkshire's annual meeting in May, Buffett announced that they had exited their holdings of four major U.S. airlines, confirmed by the Q2 Form 13F.6? 1?

For the second consecutive quarter, Berkshire trimmed holdings of satellite radio service Sirius XM Holdings Inc. (SIRI). This position is now 50 million shares, down by 62% from 132 million at the end of Q1 2020, and worth $264 million at the end of Q2 2020.3? 1?


Warren Buffett’s new investment strategy!! Big moves ahead!! GPL is positioned well for growth as metals prices soar to new highs!!
————————————————-
Warren Buffett’s group pares back holdings in Wells Fargo, JPMorgan, PNC and Goldman Sachs

Warren Buffett, through Berkshire Hathaway, is one of the single-biggest individual shareholders in US banks © REUTERS

August 14, 2020 10:43 pm by Eric Platt and Robert Armstrong in New York
Warren Buffett’s Berkshire Hathaway significantly cut its stakes in some
of the largest US banks in the second quarter, selling billions of
dollars worth of stock in Wells Fargo, JPMorgan Chase and other
financial institutions.

Berkshire Hathaway disclosed on Friday it had sold 85.6m shares of Wells
Fargo in the quarter, reducing its stake from 7.9 per cent to 5.8 per
cent of the lender, according to a filing with US securities
regulators. Berkshire also sold 35.5m shares of JPMorgan, lowering its
stake to 0.7 per cent from 1.9 per cent, and a substantial minority of
its longtime holding PNC Financial.

Mr Buffett sold the last of his financial crisis-era investment in
Goldman Sachs in the quarter, which was worth just under $300m at the
end of March. He cut Berkshire’s stakes in M & T Bank, Bank of New York
Mellon, US Bancorp, Mastercard and Visa as well. In total, including
both financial and non-financial stocks, Berkshire dumped $12.8bn worth
of shares in the quarter.

Through Berkshire, Mr Buffett is one of the single-biggest shareholders
in US banks and his decision to pare back his exposure will be parsed
by investors globally, especially given the timing.


The Great Panther Turnaround Story - Great silver & gold story -

https://seekingalpha.com/article/4368739-great-panther-turnaround-story?utm_medium=email&utm_source=seeking_alpha&mail_subject=gpl-the-great-panther-turnaround-story&utm_campaign=rta-stock-article&utm_content=link-0


The Return of the Gold Standard (This is WHEN and HOW it comes back!)
31,918 views•Aug 5, 2020

https://www.youtube.com/watch?v=8mlZWFxDiBY


XRP and GOLD - Will Donald Trump free us from the FED? Are we headed
to a gold standard?
11,545 views •Premiered Aug 6, 2020

https://www.youtube.com/watch?v=e0Lvq72AXXE


Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says
Published: Aug. 8, 2020 at 4:44 p.m. ET





https://www.marketwatch.com/story/gold-rising-to-4000-an-ounce-would-not-be-an-unreasonable-move-fund-manager-says-2020-08-06?mod=home-page


Any fund controlled by banks - I am scared for to have any savings in -
what's your opinion - all opinions appreciated -
thanks in advance -

E.g.,
Great Minds: Ellen Brown - Did You Know Banks Can Take Your Money in A Crisis? VIDEO

This is Our Money!!! A Must Watch ...

https://www.youtube.com/watch?v=eSRPvMxIAb0&feature=youtu.be

good message - by Shermann

Btw.
I prefer hard rock safety mines ex.... )


Gold & Silver bulls starting to break out > ^ > ^ > ^

In GOD We Trust - Real Money -







https://www.kitco.com/images/live/silver.gif?0.8344882022363285









http://www.kitconet.com/images/live/au0001wb.gif


Gold & Silver is the only REAL Legal Tender -

by The Founding Fathers for your -

Rights, Liberty and Freedom -

http://www.biblebelievers.org.au/monie.htm

God Bless America
Ps.
opinion appreciated
TIA

[TFMG]

$JPM | $112 Target for #JPMorgan Short-Term



Stock has managed to cross the much hated $105 level pre-market,
lets see if it can stay there and possibly set up a move to the 200ma @ $112.
Yesterdays rally was cut short buy the late day selloff.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.

[Eaglepointone]

Totally agree, We Will Win that War.


https://www.marketwatch.com/story/u-s-will-have-a-delayed-effect-of-seeing-the-normal-effects-of-recession-says-jpmorgans-dimon-11597160306

[Agoura Guy]

Briggs & Stratton went >>>BANKRUPT<<< today. A flood of bankruptcies is expected to hit 2nd half. Banks are about to get hit with some heavy losses.

[Nebuchadnezzar]

the bubble grows. JPM barely up green after beating very low expectations should tell you all you need to know.

we go red tomorrow