By Silver Vigilante, Chief Editor
Everything seems to be going awry for JPMorgan these days. After its 2011 stock price conflated with the US Dollar silver price – a sure sign that the bank was in trouble – 2012 has proven to be a transformative year for the bank.
In just the last couple of weeks, three huge blows – k.o. style – to confidence in and the balance-sheet of the bank have come-to-pass in full public view. And, what’s likely, is that this is merely the beginning. Here they are:
- Jamie Dimon oversees London whale whose risky hedging positions would wind up costing the bank billions. The mainstream portrayals of the JPMorgan Chase & Co billions in losses have touched on a number of common themes, such as too-big-to-fail and stricter regulations by the state over the economy. Jamie Dimon has had to defend himself, claiming that he is not a criminal.
- Facebook IPO goes awry, JP Morgan has to spend hundreds of millions to prop-up price.
The bank is under Investigation for signaling lack of confidence in Facebook IPO outlook, keeping investors in the dark.
3. And now, JPMorgan will be forced to return $168 Million to the estate of MF’s broker-dealer. JPMorgan has been tied to collapsed commodities firm MF Global. JPMorgan could face further legal claims over holding customer money, stolen.
Down for the count? The ball is rolling, and there will surely be more bad news and worse news for JPMorgan. In other words, it’s not too late to short.
Max Keiser agrees. He recently published on his website maxkeiser.com, this letter of thank you to the SLA
Thanks to the ‘Crash JP Morgan, Buy Silver’ campaign that rocketed silver 100% higher last year JP Morgan has been forced to lean even more on its fragile balance sheet resulting in a 2 . . . er, I mean 5 billion dollar explosion on their balance sheet that wiped out more than 20 bn. from their market cap. We are now closer than ever to taking down this pig. Keep up the pressure. Each $1 of physical silver you take off the market hits JPM’s balance sheet for a $100 loss. We’re winning the war against financial terrorism and JP Morgan. To those who doubted the connection between the Naked Shorts of JPM’s silver and the risk to the their balance sheet; you have been proven wrong. To those who doubted the connection between JPM’s stock price and the price of silver; you have been proven wrong. The SLA are true patriots. Never negotiate with terrorists like J. Dimon. Be true. Live free.
Check out a recent Keiser Report to see what else he has to say about JPMorgans end: