JP Morgan / Jamie Dimon Decide To Burn Their Bras

JP Morgan took the bold step  to “break a stigma” and announce that it planned to borrow from the Fed’s discount window.  The discount window in the context of modern finance has evolved into  an emergency source of liquidity.  This is nothing more than an attempt at reverse psychology to cover up the fact that JPM is preparing for the eventuality that it will need to tap into emergency sources of liquidity like the Fed’s discount window.

The Fed’s “temporary” repo money printing operations are not doing the trick. The big banks are in trouble from the same type of bad lending decisions that led to the 2008 crisis, only this time it will be worse. Chris Marcus (Arcadia Economics) and I flush out exactly what this means in a short podcast:


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3 thoughts on “JP Morgan / Jamie Dimon Decide To Burn Their Bras

  1. 100 years of daily looting via money printing, market manipulation and never ending wars have utterly impoverished the nations of this world. There are no resources left to prevent the collapse of the political and economic order. All the slavers can do is move deck chairs on board the Titanic. Today’s market slump, the never ending attacks on precious metals, the empty shelves in supermarkets and the silent dying of ‘self isolating’ plague victims are a foretaste of things to come. People will wake up when there is no food left in the pantry. It is therefore time to think about a new political order and about measures to end the global slave regime.

  2. Dave,

    I’m purely into physical gold, so have never followed the miners at all closely. I’m wondering, though, if you think that perhaps the Fed/bullion banks, at this late stage of the game, having lost most of their power to seriously push gold prices down, have now switched to pushing mining stocks down? Might that account for the counter-intuitive price movements today?

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