c also audits j.p. morgan and you have pete obviously also auditing the law firms that the trustee good is work for. so you have a lot of vested interest in everybody keeping the noise down and in fact j.p. morgan was the primary banker to m.f. global and j.p. morgan was also the trust. on the bond issue m.f. global had back in august my strong opinion is that no one is willing to say that the money was actually taken or stolen because that means that all of these folks have to acting particular the trustee and they're going to be suing firms like j.p. morgan and peter have you seen like they've done in similar circumstances such as refco or any other bankruptcy new century some of the other bankruptcies that had very strong pointers to these third parties like the banks the investment banks the law firms in the accounting firms who allowed criminal activity to take place the need to look the other way or potentially help them along the way and the reports suggest that j.p. morgan in the bankruptcy was junior

a line of credit at j.p. morgan that doesn't result in money actually missing and they've actually admitted that it's been missing ever since the thirty first when they went bankrupt just before the thirty first there was a huge outflow of cash right to credit jurors who apparently had some inside information this was about to blow up is that true well there was a report out today that perhaps they started moving customer assets even earlier than they thought the twenty sixth and that's consistent with some theories that i've put out which says that once they thought they were in the clear and they had handed the c.m.e. group the last report that said everything was in order they started moving assets around and i think my theory is that they pledged them for a line of credit to try to get through the weekend they planned on selling the company and then maybe putting those assets back unfortunately their plans were for oil by the force bankruptcy and that's why i think those assets are gone completely because whoeve

j.p. morgan c.e.o. jamie dimon finds yet another way to cash in on attention as a drama queen or king i guess soundings gets a friend of on regulation wall lashing out at us the us media will tell you what we think let's get to the day's capital account. the u.s. commodity futures trading commission is having roundtable talks a woman today they'll go on tomorrow to talk about how to protect customer money in the aftermath of the m.f. global collapse you know remember the eighth largest bankruptcy in the u.s. where they are still looking for a reported one point six billion dollars in missing customer money the firm run by former goldman sachs c.e.o. senator also new jersey governor john corazon well james good to less is our guest he's a lawyer representing eight thousand and the global customers in the bankruptcy proceedings pro bono mind you so he tells me and he has told me that any new u.s. regulations won't be very effective as long as firms can just skirt them skirt u.s. regulators by going

j.p. morgans of the world in charge who does he think is running it now j.p. morgan it's goldman sachs it's wells fargo it's it's all the big banks i mean that and they are they are the ones who ran to the big banks set up the fed when they had a meeting in jekyll island georgia. senator nelson aldrich who was the son of john d. rockefeller and j.p. morgan himself and all the other big bankers they wrote the federal reserve act they promoted the federal reserve act the federal reserve exist to benefit the big bankers so they so dr baker is is is not just i mean it's a very it's a very silly point this is who runs it and who and so it's the fed is run for the benefit of the big banks of the government big government contractors like the military industrial complex and so forth and whether we saw you know what's going on in two thousand and eight when they as you mentioned what they do with these special bonds the number of a small prime dealers they have that they deal with now the fifteen trillion dollars worth of bailouts they directed to european banks is no

global and j.p. morgan was also the trustee on the bond issue of global had back in august my strong opinion is that no one is willing to say that the money was actually taken or stolen because that means that all of these folks have to acting particular the trustee and they're going to be suing firms like j.p. morgan and peter if you see the like they've done in similar circumstances such as refco or any other bankruptcy new century some of the other bankruptcies that had very strong pointers to these third parties like the banks the investment banks the law firms in the accounting firms who allowed criminal activity to take place and even look the other way or potentially help them along the way. reports suggest that j.p. morgan in the bankruptcy was junior to the customers in terms of claims but somehow that manipulated the regulation. to become senior to the customers and in fact stole money from customers some described what events that took place is that a fair characterization there is a lot a lot of

and goldman sachs want j.p. morgan and goldman sachs to get and once we get the green light on negative yields at auction next up will be the push for the fed to impose negative rates on all standing securities which means that coming soon savers will be literally paying to hold cash and that will be the final straw just confiscation of your money it's fascist regimes in the past have not hesitated to just confiscate people's wealth the resulting impoverishment ends up in creating state sanction or in this case bank sanctioned ghettos and then there's the beginning of a financial program which a financial hole cost and this is the program in place now those who have gold and silver of course are going to be the only survivors as we've been saying on the show for a number of years as well so the fed doesn't believe in the dollar clearly because they want to be confiscating the capital like this here over in europe buddhist bank sinks deeper into debt saving europe so germany's buddhist bank has entirely exhausted its st

global's creditors namely j.p. morgan got their money first so what is the deal j.p. morgan gets its money some poor farmer gets screwed and john course what happens to him he gets off scot free what is this exactly. what do you do some construction.

global and j.p. morgan are you saying it's unknown whether we know whether we took the money or not yet we're not sure whether we stole the money he's just sitting in front of a stack of cash jamie diamond says i don't know who weren't good a good well by the way you know vulture funds are offering eighty five cents on the dollar for m.f. global customers so though very interesting to actually see these vulture funds you know where you see them shaking down african nations whether or not they can get away with shaking down the third world dictator like jamie dimon the economic hitman then the vulture funds that operate in the third world latin america they go down there they don't get the money they throw a dictator out of a plane. then they're in central america south america so presumably we're going to see jamie dimon falling from the sky one of these days from one of these vulture funds or forgot a parachute there is jamie splat well returning to this soap opera of america mega trash fifty million users

is the goldman sachs j.p. morgan you see bacon absorbed many many trillions of this junk without breaking a sweat and remember folks it's all legal what germany is doing it's all loophole so the next headline also from ambrose everand pritchard from the telegraph says the perils of mario drags one point five trillion euro blitz a disturbingly laura number of credit experts warn that the e.c.b. lifeline is not the game changer that the markets seem to think cannot in itself save the euro land and may prove counterproductive perhaps soon suddenly all these credit experts are thinking hey. all of this lending to the banks these trillions and trillions and trillions of dollars and euros and fake currencies around the world all of it actually may blow up because i'll bear to gallo from r.b.s. says drag is four hundred eighty nine billion euro loans to banks at one percent for three years the l t r o is having all kinds of toxic effects which is disturb and giving that the financial times splashed a headline that the banks

downgrading the investment banking world's biggest players us includes bank of america goldman sachs j.p. morgan morgan stanley the list goes on i like the way the wall street journal put it they said moody's is worried about everything in investment banking and speaking of worries art cashin of u.b.s. in his note this morning says traders are worried about a greek default but they're really worried about what happens and credit default swap markets we we thought everyone was perfectly hedged so what kind of risk is really lurking in the u.s. banking system and what could it do to an economy that sputtering along here in the u.s. as for why we're buttering along henry blodget c.e.o. and editor of business insider has a message to send big multinational corporations today to make his point he writes dear wal-mart mcdonald's starbucks how do you feel about paying your employees so little that most of them are poor how did we get here from the days when henry ford decided to pay his workers well enough that they could afford to buy his cars and once a solution henry blodgett is here he's also autho

global and j.p. morgan stole people's money right out of their account so all of that work for nothing because now people are dumping their rig market j.p. morgan m.f. global accounts of buying physical and this is causing the near term price to get higher than the out outward price so-called backwardation and this trend is clear indication of the silverball market is well in place and going much higher i would imagine men yeah absolutely and bear in mind as well we have the the second element of this which is the fact there exploited back in the market three hundred million dollars. the physical of course when he announced his first purchase of physical in think it was october of twenty ten the price is around the sort of eighteen dollars twenty dollar level and when you consider when you think about a market this extreme physical tightness like silva does and someone comes in and demands delivery of physical in size it was no surprise to see that as a major catalyst to the run up to the new fifty dollars