chilton fired back that the report was premature and inaccurate down to the much sense that of course j.p. morgan is at the center of these manipulation claims and our guest is forecasting that the robbers may meet the road for the big bang and it's over position possibly this month could explode we'll hear from a plus our lap dances in new blood dance is an art form worthy of tax exempt status well new york's highest court will reportedly weigh the arguments for and again stand at the end of the show so it will be let's get to today's capital account. so as i said at the top of the show gold keys are courting to media reports today as investors were cautious ahead of the e.c.b. meeting that begins tomorrow and the federal reserve's meeting next week this is after hitting a six month high earlier now this is the latest macro trend that the movement of the precious metal is being attributed to but does this explain it or is there market manipulation going on behind the scenes driving moves and price suppression despite an environment that says everything is fine like this. good morning. i

about what j.p. morgan was going to do ahead of time and it happened over and over again and still nothing's been done about it yet i mean if you that's a smoking gun i mean you tell somebody what's going to do before they do it then they do it yeah yeah ok that's a good example but also you i mean you sued the fact you have testified before regulators and you took out a wall street journal and that you paid a couple hundred thousand dollars for i believe you know to go through some of these well january thirty first two thousand and eight we put a two hundred sixty four thousand dollar full page color on the wall street journal in that in we talked about catastrophe and disaster coming as a result of the manipulation of this market two months later we had this crash and there's the ad right there i'm curious what has this done maybe to get the message out about gadda how has the reception ben in the past few years silence. that's a couple of thousand dollars in the american filing yeah i think. as l

morgan and j.p. morgan blesses it with a loan of a treasury bond which then they put on as collateral for him for example the chicago mercantile exchange but they have to pay back with that treasury bond they have to get a treasury bond to pay back the loan eventually or this is market fundamentalism this is this is the church of wall street and jamie diamond and others giving their blessing to collateral that is junk i mean they could just open up the sluice gates of big and just have the junk pouring from attics of america into the balance sheets of these various banks and say that's the collateral missing a lower rate of securities they're not securities it's just pure garbage it's a toxic waste dump it's a fukushima nuclear disaster poisoning the pacific ocean tuna fish as collateral it's the equivalent of transforming garbage into gold it's the old alchemy dream doesn't work of course not you're just adding more debt on top of debt on top of that you're deferring the day of reckoning by a few mo

of j.p. morgan chase has refused to come on to the show well yeah he's on the run he has some doppelganger you know like these dictators in these countries they hire lookalikes to go out in public because they're afraid they're going to be chased down so jamie diamon you know go to a board meeting at j.p. morgan and there's a doppelganger you know all dolled up like jamie diamond the real guys are in a bunker somewhere with life masters afraid to come out now that the silver liberation army has got their location taken somerhalder and speaking of those refusing to come on to the kaiser report and have a fair open honest debate there's tom woods from the me sees institute and he is saying we received a response from him via somebody else saying i have not received any correspondence from either person meaning me and said jaitley so i call your attention to this tweet of august twenty third as you can see i was having a conversation on twitter with tom woods and i said but anyway we should have

morgan prediction has to do what j.p. morgan's predilection towards size and large size because. they now are saying that size doesn't matter in the making the argument that the bigger bank the better the bigger the better the sort of. there is not better that's a. bigger is not always better than when a bank that definitely applies. there doesn't ok you're just tapped out and. so let's move on because i want to talk to myself we spoke about college education a little bit in this segment having to do with employment with my guest these days the value of college in america is being questioned and this is in part of course because of rising student loan debt more than a trillion dollars and it many financial experts are saying college may just not be worth it take a look. at the rising cost of college has changed the equation so college is less all fordable less good of an investment i think that it was five or ten years ago. which is something that has become part of the discussion in the us for sure but guess what the u.s. is not alone and we just have a minute to me i'm not a wa

or so customers who don't give them any fees by the end of the year they're not banking enough with j.p. morgan they just abandon that they cut them off cut them off of the grid go got a reservation some way to drink or something that we don't care pretty soon you know london was often the scene of all you know the peasants having to prostrate themselves on the ground so that the royals could walk over them and not have to step in the mud you could imagine that at the airport here it's going to be tough to decide like what the cutoff date of course to cut off is all going to be rising so people constantly be drifting out of the v.i.p. as the inflation required to finance separate airports one of the happy loans makes the value of the top one tenth of one percent go are these people producers you could be one guy in line if you want any reporting on any airplane but everyone else has to wait and watch him get on the airplanes going to all the airplanes and all the air. words a little boost of body for all that from the mideast of course a headline in the last week or so has been that the

you said you own j.p. morgan. you're a dividend investor. here's the question. what does j.p. morgan come back with the dividend and when this k. they start raising it? >> j.p. morgan has the capital to raise the dividend. post financial crisis the regulators are putting restrictions on them, you know, raising the dividends. they have the ability with this recent trading issue. they're probably gun-shy. the regulators are probably reluctant. but they definitely have the ability to raise the dividend. it might take a little longer than we first anticipated. >> jim, intel is a stock that's had actually a pretty lousy year given where it's trading now. i think it's lower on the year. the dividend is strong. is that a name you would look to going forward in terms of tech stocks that pay nice dividends? >> we never owned intel. it clearly fits like most dividends. we're concerned, like most people, about, you know, the pc market and tablets taking market share. we pretty much avoided that stock. >> jim, i know you recently added to apple. what made you finally get in? actually, the

i forcing it into j.p. morgan at the expense of equity holders michael hudson points out to the homeowners and corporate america on how in hock to the debt machine many corporations are effectively in negative equity or in and technically insolvent position headed by the financial sector by the banks themselves there may be sympathy for the demonstrators in the bill. i don't know if there is a lot of sympathy per se to their point of view i mean we were you know in a similar similar boat so to speak a similar boat perhaps but only one has life preservers the fact that the government now is funneling money to a major bank and saying if you can do that with a bank why not do it with strapped homeowners facing foreclosure as democrats thank . god. thank you thank you let me ask you crisis increases desperation signs hudson says no street is leeching moron main street in a battle for survival we are seeing a second class war in this country such as you've never seen in the entire history of the united states a

fourteen thousand employees would eventually be laid off by j.p. morgan sure it's a class war between creditors and debtors it's going to be a fight between the financial sector and what's called the real economy the economy of production and consumption and the financial sector has prepared and position that so to come out on top by being able not only to foreclose on the property of debtors but to get a government bailout for all of its losses. because . employment is going to go down market going to shrink people are going to default even more on their mortgage debts on their credit card debt on their student loans so you're going to have an exponentially rising trend of defaults you're going to see a transfer of property from debtors to creditors a depression not only a depression but an economic polarization it sounds bad yes it's very bad. the media was now out in force covering the protests many would not talk to them. like you know what is it going to. be seaview to me when i tell so why do you think people don't want to talk to you because

hershey's c.e.o., j.p.ilbrey, says the idea behind what the company calls project next century was to invest for the future. >> we're really excited that this investment has more than doubled the square footage of the plant we have. >> reporter: the plant expansion is one of pennsylvania's largest manufacturing investments since hershey built the first phase of the plant 21 years ago. according to hershey, the addition pumped about $70 million directly into the region's economy and created more than 300 construction jobs. >> we were able to use local manufacturers, we were able to use labor from the market, and so the commitment that we made really created jobs in pennsylvania. >> reporter: while pennsylvania's economy and many companies struggled through the global financial crisis, bilbrey says hershey proved to be recession-resistant. the company expects sales for the year to climb at least 7%. >> these are simple indulgences. they're available to the masses. they're accessible. it's a way people can hav

congress began holding hearings in the summer of 2008 and asked wall street banker lawrence eagles of j.p. morgan what role excessive speculation played in rising oil prices, the answer was little to none. >> we believe that high energy prices are fundamentally a result of supply and demand. >> as it turns out, not even j.p. morgan's chief global investment officer agreed with him. the same day that eagles testified, this email went out to clients saying, "an enormous amount of speculation" ran up the price, and "$140 in july was ridiculous." if anyone had any doubts, they were dispelled a few days after that hearing when the price of oil jumped $25 in a single day. september 22nd. >> september 22nd. >> michael greenberger, a former director of trading for the commodity futures trading commission, the federal agency that oversees oil futures, says there were no supply disruptions that could have justified such a big increase. >> did china and india suddenly have gigantic needs for new oil products in a single day? no--everybody agrees supply-demand could not drive the price up $25, which

as a medium of exchange a very interesting we'll talk to our guest about it plus what happens when j.p. morgan's a bullish i phone five g.d.p. forecast collides with fed ex is a recently reduced more bearish economic growth outlook well up what it looks like at the distribution center according to write it won't talk i phone five indicator let's get to today's capital account. to bloomberg reports u.s. investors are buying treasuries at a faster pace than foreigners for the first time since two thousand and ten undeterred by record low yields that's pretty nice of investors to help enable uncle sam sixteen trillion dollars plus borrowing bench for nothing or less than nothing in return but does this mean they expect ben bernanke and his chief dinse to fail and their efforts at turning up the thermostat on economic growth and getting america back to work again and anyway how do you quantify the stimulus impact anyway the latest issue of grants interest rate observer cites a paper produced by the federal reserve bank of new york titled the macro an economic effects of large scale asset p

senate panel probing j.p. morgan's multi-day. dollar oil trade last plans to unveil its findings this year to press regulators to tighten the volcker rule but would not even be enough to rein in too big to fail bank risk we'll talk about it let's get to today's capital account. ok so now the fed has announced q e three and japan has announced q e eight brazil is threatening defensive measures and bring in talk of currency wars back this is according to multiple press reports and you may remember brazil's finance minister coined the term a couple of years ago when governments around the world were competing to lower their exchange rates to boost competitiveness and the argument was because of central bank easing like the fed's q e liquidity was flowing into rapidly growing emerging markets that were overheating and they were fighting back to try to cool off but it's important to note this now. we could potentially have that again of course all these economies are slowing not just in the united states and in europe and so forth but

made off the london whale j.p. morgan london whale m.f. global all of these happened london they couldn't happen elsewhere that's exactly right we've been saying this for months for years now finally people are beginning to realize i think the m.f. global was really that what tripped it off finally they said you know why are all the major bank frauds always in the city of london you know in the city of london of course is the only place in the world in the banking world we can really hypothecate to infinity even in the west which is corrupt you could only read hypothecate one hundred forty percent say underlying marginal bull security like the u.s. government treasury bond but in london you can do it infinity you can sell the same bond in london infinite number of times gee i wonder if that could lead to fraud and you know by the way regarding the london disease. and acting as a sort of haven for all sorts of ill gotten gains from around the world i do notice in the f.t. recently luxury homes boom in london. that of course is the way to la