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Old 12-17-2008, 10:28 AM   #1
silverman
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Default ALERT! JP Morgan (OTC positions) collapsing?

Rumours say, that JP Morgan is in deep deep troubles.

JP Morgan being the US governments bank,

plunge protection team etc...

and having outrageous OTC positions in the precious metals (Gold & Silver) and FX.

I believe thats the real reason, why the US Dollar is dropping like a stone! This will continue very fast and I expect the US Dollar to reach new all-time-lows within weeks if not days.

I expect gold and silver price to double within the next 90 days.

Cheers, silverman


Source: Midas vom 16 December 2008

JUST IN … OK, here’s the latest on the coming JP Morgan blow up.

The information I sent your way yesterday was re-confirmed today. The lack of trust in the financial world over counterparty risk is "accelerating." This is forcing "remaining contracts" of all kinds, especially in the Over The Counter markets, to be "settled."

What is stressed to me is that it is a "currency" problem … so I did my best to nail that down. It has to do with the dollar, US interest rates, AND gold and silver, which represent a SUBSTANTIAL part of the JP Morgan derivatives book … and it is TRILLIONS and TRILLIONS … the magnitude of the problem is that large.

JP Morgan, the Fed’s bank supposedly can’t handle it, so the US Government is stepping in … and the only way the Fed can handle the GROWING problem, is to PRINT money. BUT, they can’t PRINT the money fast enough.

And yes ... this a major reason why the dollar is suddenly falling apart. If I, WE, know … much of the BIG MONEY has to know and they are dumping dollars as fast as they can, ergo the dollar is TANKING, and will continue to tank.

The Madoff mess, and $50 billion catastrophic loss, could not come at a worse time for the US Government and JP Morgan. Our government knows they CANNOT let Morgan fail and they are going all out to prevent that from happening. However, the Madoff scandal, and loss of capital, has those fearful of counterparty risk problems accelerating their exit from dealings with Morgan and other US institutions, in which they have dollar based, counterparty contracts. It is so bad that word to me is that the US cannot "waste time" on the relatively insignificant Madoff "disintermediation" nightmare, the JP Morgan problem is so MONSTROUS … because disintermediation is spreading like a horrible, malignant cancer and the numbers are mounting daily.

So, what are we left with? Bernanke’s helicopter drill is NOW in effect. The problem is Bernanke needs B-47’s or some gorilla plane like that. We have talked about this sort of scenario in MIDAS for some time. Well, we are here for sure and it is in play (Bill H and others have been all over this).

What will be critical for JP Morgan to stay afloat is for the Fed to be able to print money fast enough to meet the demand of those closing out contracts with Morgan.

The bottom line: HYPERINFLATION is upon us, or the eve of hyperinflation is.

As far as I know, no one else out there is delving into the JP Morgan mess. The insiders are trying to keep this horror show as quiet as possible.
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Old 12-17-2008, 10:48 AM   #2
Avid
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Default Re: ALERT! JP Morgan (OTC positions) collapsing?

The moral of this is 'you should've bought gold months ago'. Unfortunately, I couldn't afford it. The people who sold their home and bought gold with the profits will more than likely be squillionaires by January!
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Old 12-17-2008, 11:59 AM   #3
silverman
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Default Re: ALERT! JP Morgan (OTC positions) collapsing?

Quote:
Originally Posted by Avid View Post
The moral of this is 'you should've bought gold months ago'. Unfortunately, I couldn't afford it. The people who sold their home and bought gold with the profits will more than likely be squillionaires by January!

If you can afford now, do it! Gold and Silver still trade at absolute discount prices....

in 2 to 3 months you will have to pay double the price in US Dollar terms.

Cheers, silverman
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