Road to Roota | June 28 2012
Everything I Watch Is Firing On All Cylinders…
But the one thing that can destroy the entire paper and electronic financial system is the one that really matters.
And it continues to tilt towards OBLIVION!
JPMorgan Trading Loss May Reach $9 Billion
“Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation.”
“When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet on credit derivatives, he estimated that losses could double within the next few quarters. But the red ink has been mounting in recent weeks, as the bank has been unwinding its positions, according to interviews with current and former traders and executives at the bank who asked not to be named because of investigations into the bank.”
Taking down JP Morgan is the key as they have over $70T in derivatives that WILL destroy the global financial system and with that the destruction of the Bad Guy’s power. With the Bad Guy’s “virtual wealth” gone their “virtual power” is gone as well!. JP Morgan also heads the Silver price suppression book as I discuss in this article:
JP Morgan: Operation Silver Slam
Continue reading @ Road To Roota
- Bix Weir ~ Banker Resignations & Gold/Silver Market Rigging (shiftfrequency.com)
- How Do Bank Runs Start? (sgtreport.com)
- Bix Weir ~ Criminal Neglect and Corruption at the CFTC (shiftfrequency.com)