antifascist Posted October 7, 2011 Author Share Posted October 7, 2011 Quite right chem1st. JP Morgan will (I'm sure) have at least a few vaults full. Also it might be worth pointing out that if JP Morgan does ever become insolvent it will probably be for similar reasons to the Icelandic banks. Huge loans to directors that appear as "assets" for the bank on paper, false accounting to hide losses, effectively buying your own shares to drive up the value and huge payoffs to directors and executives. Link to comment Share on other sites More sharing options...
Conrod Posted October 7, 2011 Share Posted October 7, 2011 I'd build huge razorwire-topped walls round the council estates, and halve council tax for the West side of town Link to comment Share on other sites More sharing options...
andygardener Posted October 7, 2011 Share Posted October 7, 2011 I accept the correction that they hold 78 trillion in derivatives, however writing all these off as junk is highly disingenuous. JP Morgan holds 80% of all the Gold derivatives in the world. Also how much of it is junk depends on how many banks we allow to fail, how many bailouts we do, How many countries default. If lots of banks fail then JP Morgan looses more. Suggesting JP Morgan is practically insolvent is nothing more than Elitist, Fascist propaganda. They are rich enough to donate over 4 million to the NYPD to break the heads of Wall St protestors, or to buy a 200 million dollar share in twitter so they can censor it. JP Morgan and Goldman Sachs rule the world according to top economists. Their power and influence far exceeds the power of any of the governments of the people. Tell me I1L2T3, how do YOU know they are insolvent? Which version of JP Morgans accounts did you read? They don't "hold" $78 trillion - that's the estimate of their total derivatives exposure. The problem is that a significant chunck of that exposure is with counterparty banks who are under threat of collapse. If the counterparties start to struggle then they will come under pressure to close their winning possitions and default on their losing positions leading the big 5 global banks to have to pay out on their losing bets and not get paid out on their winning bets( or accept massively lower settlements). I read appocolypse roullette back in 1998 and Richard Thompson predicted pretty much all of what would come to pass 15 years ago. Link to comment Share on other sites More sharing options...
taxman Posted October 7, 2011 Share Posted October 7, 2011 What would you do to Sheffield if you had $78 Trillion to spend? I'd pay Cameron and Clegg to dress up as tramps and fight each other every day outside W.H.Smith on Fargate. Link to comment Share on other sites More sharing options...
0742Sheff Posted October 7, 2011 Share Posted October 7, 2011 i would certainly have a monkey butler, and would buy a full tank of petrol for my car That's you spent up then Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 7, 2011 Share Posted October 7, 2011 I accept the correction that they hold 78 trillion in derivatives, however writing all these off as junk is highly disingenuous. JP Morgan holds 80% of all the Gold derivatives in the world. Also how much of it is junk depends on how many banks we allow to fail, how many bailouts we do, How many countries default. If lots of banks fail then JP Morgan looses more. Suggesting JP Morgan is practically insolvent is nothing more than Elitist, Fascist propaganda. They are rich enough to donate over 4 million to the NYPD to break the heads of Wall St protestors, or to buy a 200 million dollar share in twitter so they can censor it. JP Morgan and Goldman Sachs rule the world according to top economists. Their power and influence far exceeds the power of any of the governments of the people. Tell me I1L2T3, how do YOU know they are insolvent? Which version of JP Morgans accounts did you read? If the nominal value of their exposure is 78 trillion that is 5 times the GDP of the US. And there probably is only just about enough output in the entire world to cover that position. They are IMO effectively insolvent. As for gold and silver derivatives they are believed to be leveraged 100:1. A financial time bomb waiting to go off - wait and see. Link to comment Share on other sites More sharing options...
bladesufc1 Posted October 7, 2011 Share Posted October 7, 2011 just to give tyou a rough idea on 6 JP Morgan companies, they have 40+ compaines in total Total Net Worth (excludes intangible fixed assets) J.P. MORGAN LIMITED £1,904,549,000 JPMORGAN AMERICAN INVESTMENT TRUST PLC £374,020,000 JPMORGAN ASIAN INVESTMENT TRUST PLC £445,002,000 JPMORGAN ASSET MANAGEMENT HOLDINGS (UK) LIMITED £460,764,000 JPMORGAN ASSET MANAGEMENT INTERNATIONAL LIMITED £1,133,101,000 JPMORGAN ASSET MANAGEMENT MARKETING LIMITED £193,613,000 Link to comment Share on other sites More sharing options...
donkey Posted October 7, 2011 Share Posted October 7, 2011 Suggesting JP Morgan is practically insolvent is nothing more than Elitist, Fascist propaganda. They are rich enough to donate over 4 million to the NYPD to break the heads of Wall St protestors, or to buy a 200 million dollar share in twitter so they can censor it. JP Morgan and Goldman Sachs rule the world according to top economists. Their power and influence far exceeds the power of any of the governments of the people. Tell me I1L2T3, how do YOU know they are insolvent? Which version of JP Morgans accounts did you read? In fairness, you were the first person to make a wildly inaccurate claim about the finances of JP Morgan. Now you are bandying about angry sixth form college student type phrases because you believe someone else been similarly inaccurate. If JP Morgan paid $200 million to censor twitter, and are controlling governments across the World, I'd be genuinely very interested to see some proof, and I don't mean links to similar unsubstanciated claims. Maybe if you hadn't immediately retracted the central claim of this thread as soon as it was challenged, I wouldn't now be taking everything else you say with a very large pinch of salt. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 7, 2011 Share Posted October 7, 2011 In fairness, you were the first person to make a wildly inaccurate claim about the finances of JP Morgan. Now you are bandying about angry sixth form college student type phrases because you believe someone else been similarly inaccurate. If JP Morgan paid $200 million to censor twitter, and are controlling governments across the World, I'd be genuinely very interested to see some proof, and I don't mean links to similar unsubstanciated claims. Maybe if you hadn't immediately retracted the central claim of this thread as soon as it was challenged, I wouldn't now be taking everything else you say with a very large pinch of salt. Hey don't forget I got called a fascist. That never happened before. I normally get called a loony lefty. Link to comment Share on other sites More sharing options...
praises Posted October 8, 2011 Share Posted October 8, 2011 The banks have far too much power. God only knows how we got in this situation. The politicians need to start working for the people for a change (instead of the other way around) and fix this mess. Link to comment Share on other sites More sharing options...
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