jamie dimon went and met with eric holder eric holder showed him this document and jamie diamond agreed on behalf of j.p. morgan just to pay the thirteen billion dollars fine. the proviso that this is never made public it's now been made public through freedom of information act requests and so you can see some of it and it's just as shocking as those sacks of the you know the member the goldman sachs stuff and when they had to testify in front of carl levin in front of the in front of the senate right so more buffett said when the time. wearing a bathing suit so in two thousand and eight the tide went out a serious way bernie made off clearly was caught up and he was in a vicious j.p. morgan client j.p. morgan client and ponzi scheme and he was busted and it also revealed on the balance sheets of these big banks like i could j.p. morgan massive fraudulent behavior that as you've just described there and during that time they were also engaged in numerable instances of fraudulent behavior illegal behavior and as i said what's amazing is that back in the eighty's when i was working on wa

oh my god we are in trouble well year and a half ago jamie dimon was quoted as saying that bitcoin is going to eat our lunch time they they filed something like one hundred seventy patents trying to use intellectual property to swart this revolution that didn't work now they're out of missiles or out of ammunition they're just trying to bad mouth it and you know amazingly as he was badmouthing bitcoin you know a dealer in northern european territory was buying bitcoin for j.p. morgan clients yes so you know the clients are not going to listen to j.p. morgan now there's an action there's a filing by some european i think i think a swede right banker again saying we don't know for fraudulent badmouthing the securities at the same time that he's effectively dealing securities which is a no no so he can't escape the reality of the immutability of the block chain forever is coming for him it's coming from going to big way you know i knew this day would it would happen you know he's going to face his maker in this case i would be you know. i'm. speaking with janet yellen we're going to go i

for jamie dimon to talk about that, if i were a shareholder in j.p.gan i would be glad he is doing that because it is in his best interest to protect the establishment. he sits on top of the oligopoly in terms of how payments work today. most banks do not want to see that happen. you see very innovative banks leaning and aggressively. banks nota lot of putting their heads in the sand and i think they will be served well. blockbuster put their heads in the sand. they could have been netflix. they have the relationships with customers, the movie studios. but they put their heads in the sand about what the future of the internet would enable. they are gone and netflix is a valuable company. >> you see all of the banks wanting to partner up. even though jamie is saying those things, is internal team is trying to figure out how to leverage the technology. cory: it does seem like he knows on one level what he is talking about. so good to see you. always a pleasure. thank you very much. pitch toe making a convince amazon to build a second headquarters in the

here's jamie dimon with andrew ross sorkin.tially talking about economic growth and how sluggish it's been here we go let's listen in. >> it's our policies that's what's doing it to us we should change the policies for the good of all americans. lending. another one. we haven't affected lending. absolutely untrue. okay any small businessowner has a hard time, hard time getting a loan existing ones don't. mortgage lindin inglending. because of the higher cost of mortgaging less availability. most of the young unemployed immigrant, self-employed immigrant, we think mortgages are going to be $2 trillion higher cut that number in half. make it a trillion that, alone, adds 10% to lending. would add to growth, small business, middle market, rugs, everything home building, household formation, and tell me when a -- the fact is we are it what it is i can't change it but i do think these things are policy issues and not just that's just the way it is. it's not just that way >> when the new administration came into power, you were relati

jpmorgan chief executive jamie dimon his thoughts yesterday.ed it bitcoin -- it is guest our roles to trade and stupid. -- rules do trade and stupid. mark: why does he not think it will end well? a wonderful piece. two reasons it may not end well. tell us what they are. >> focusing on the market dynamics, whether it is bitcoinn by regulators, -- what interest me is that the demand on the ground, is it being used as currency. it has not -- you have to wonder, what are these price levels based on. if you believe there is something there, klein, but it is not there today -- fine, but it is not there today. mark: good all regulation may do. >> jamie dimon has a good point when he says regulators will come after the bubble burst which will put it in line with previous crisis is and bubbles. these things tend to exhaust themselves. regulators have bigger fish to fry today that to actually get in on this cryptocurrency issue. vonnie: not just cryptocurrency you point out in your piece, like marijuana stocks, there is a lot of gimmicks. some fundamenta

the public market is an uncomfortable place to do that. >> jeff bezos got another shout-out from jamie dimon yesterday when he was asked who he think that moral courage in 2017 dimon said bezos did as women as tim cook speaking of tim cook, julianne robertson of tiger said he doesn't believe apple is an expensive stock. >> the apples, the facebooks, the googles, those great growth companies are priced cheaper than they would have ever been in the '60s, '70s and '80s >> guys, a big part of yesterday's discussion centered around what's cheap, what's expensive. is bitcoin expensive are equity evaluations expensive? we heard a lot about bond bubbles. covered a lot of asset classes on where to find alpha >> one could interpret that as these investors taking a much more cautious tone on the market as stocks still trade at record highs. >> that's very true. very few people really went and said, you know, i think the equity markets have a lot further to go. the only person who came even close to that sentiment was leon cooperman who basically said, you know, i think there's things in the equity mark

jamie dimon on cryptocurrencies, bitcoin to tulipmania. a $1000 rolls out iphone, but you will have to wait until november. from new york city, good morning. good morning. a warm welcome. we get you set up for the trading day. after twofter straight days of gains. the euro firmer. higher.es grinding morning >>r this . >> apple's stock down. suppliers like this.

jamie dimon weighed in on the risk of nuclear war from north korea.nts he made overnight to cnbc. >> i think it would be a mistake to allow a person he who's like that to have a nuclear weapon. that nuclear weapon can reach tokyo, beijing, shanghai, manila, seoul, korea i think it's a scary concept most peoplethat have nuclear weapons today responsible. he doesn't seem to be responsible. so, no, i think that would be a mistake. >> jamie dimon speaking in new delhi, india this morning. >>> let's talk more about the geopolitical risks out there joining us is stevie inine iniin whiting. jamie dimon also said it's not an eventuality he expects to happen, to knit ahit any of thoe cities he listed is that why markets are relaxed this morning? selling in asia, but not too pronounced >> we have to remember this is a seven decade long cold war how long it continues as a cold war is unclear the technology is ever more deadly, dangerous. we can't tell there's some sort of nuclear conflict. i just remember, too, if we look at since world war ii, there's been 20 c

i am incredibly hopeful that we'll get the done by the end of the year >>> jpmorgan ceo jamie dimon takes aim at president trump's policies, saying the u.s. economy would be growing much faster if the administration got its act together. >> ask any of new this audience what have regulations done they're crippling businesses small business formation in this country, the united states of america, is less in a major recovery by 500,000 businesses >>> embrace new opportunities. that's the message from european commission president jean-claude juncker as he strikes a bullish tone in his state of the union address. >> the wind is back in the sails. we have now a window of opportunity, but it will not stay open forever. >>> welcome, everyone. let's look at the energy complex. the oil market has coped well with the busy hurricane season that's the message from the international energy agency. in its new report, the iea said crude prices were settling after recent severe weather. it added that investor sentiment pointed towards tightening markets and an expectation that oil prices will rise modest

steve, let's turn top jamie dimon.getting involved in politics and i am annoyed because they are attacking the president who is making them a lot of money with his stewardship of the economy and his policies removing regulations and proposing to cut taxes. why are these ceos taking these risks abandoning tradition? steve: many of them are in states where donald trump is not very popular. the west coast, silicon valley. east coast, wall street. lou: will he be held accountable? lou: shareholders by customers. steve: i don't want regulators getting into politics. lou: i don't want ceos in politics. steve: they have been in politics forever in one way or another. in terms -- this is where in addition to deregulation. lou: steve forbes, good to see you. tax cuts. i thought we would leave it there. up next, moments away from president trump's remarks at a rally in alabama. we'll talk about how the senate race is dividing the republican party. party. stay with us. you each drive a ford pickup right? (all) yes. i'm going to s

bitcoin is continuing to drop on the jamie dimon skepticism.'ll see this move is actually relatively small. anna: he didn't minutes his words. -- mincehis words. et's get some breaking news. five month sales numbers up 12%. at estimate was 10% increase richemont. the question is whether the was of cartier jewelry going to increase. they are buying at home in asia, according to the numbers we're getting, the regional breakdown versus the estimates. the five-month sales number up just 3% in europe. the estimate was 11%. asia pacific sales up 3%. really outperforming estimates over in the asia pacific region. they reported this five-month sales figure to coincide with their annual general meeting. the swiss watch industry recovering. exports have risen for the past four months out of five. that is part of story. we're getting some breaking news coming through. matt: toshiba is signing a memorandum with bane. he private equity company. non-binding memorandum, memo of understanding. it can continue talks with other potential buyers but it aims to se

aspen institute and we are beyond talking about jamie diamond our moving on to the consequences of jamie dimon and the world in which these sort of parasites and habits and create now this is from the bank of international settlements which is the central bankers central bank muted inflation a trillion dollar puzzle says b.a.'s the conundrum of stubbornly low inflation despite a pickup in global growth and continued monetary. stimulus is a trillion dollar question the umbrella body for the world's leading central bank said on sunday the bank of international settlement said and its quarterly report that cheap borrowing rates in the rare simultaneously expansion of advance and developing economies are driving financial markets higher with signs of exuberance starting to emerge but they can't figure out why despite all the new debt the inflation is not happening what is the primary mandate for central banks around the world is to have an opinion about inflation janet yellen echoed these sentiments in her testimony what else jonah can you explain what's happening is inflation she said no i don't

dimon of jpmorgan chase and ibm's ginni rometty. jamiegle most important thing congress can do to jump start the economy h. >> the single most important thing, bar none, is tax reform. it's important for the american public to know visible revive ansi is what helps with jobs and wages. >> is it tax reform or tax cuts. >> we hope it's tax reform. when you lower rates, individuals and corporations to have a more competitive system. we've been dlirch $3 trillion overseas that's been reinvested because people can do a better job for the shareholder if it's generated overseas. >> because the corporate tax rate is so high. >> the big picture for everyone is us being competitive means the economy grow an more jobs. >> what would happen if you cut the corporate tax rate, which is about 35% now, to, let's say, 20%. what would happen? what would the effect be? >> it's going cause economic growth and jobs. think about all of us. when you do your own budget at home. you plan your bucket on your aftertax dollar. you decide what kind of houseky buy, wh

you've seen the word shadow president, jamie dimon, but -- >> i would vote for him. >> she's my friend> here's the ticket right here. why is it important for you to spend time here? >> we all spend time because it is so important now. >> there's like one more layer down i would add on to this. how do you make change really happen? you have to engage. so the right word to me is engagement. it is not just about, you know, writing a statement and putting it in a newspaper. that isn't how you get change. this is democracy, there are people with different voices, so i think that's really what our job is, to help for the policies that are really important, to come and help engage, to get that to change and have people, you know, make change in this country. >> that's why she should be president. >> so clearly they got along well, but what is interesting is both of them are optimistic that tax reform could get done by the end of this year. the question is whether republicans can get it done. i think the interesting thing is president trump is now reaching out to democrats on the very issue, h

. >>> the controversial and infamous john mcafee will be here talking about bitcoin jamie dimon calls it a bubble. he'll explain the one thing he things they're missing about bitcoin currency in a rare, sure to be explosive interview. >>> first, consumers are making a comeback as retail stocks are on track for their best month since last year. best buy higher, home depot hitting a fresh high today is this the beginning of a retail resurgence? guy? >> i think it is a value trap. can you trust the resurgence the answer in the short term is yes. i'll give you a good example look at foot locker. we had a conversation, i think it was august 19th or 18th, the stock had horrendous guidance, traded down. this was a $75 stock, traded down to $31 within 2 1/2 months. for all the right reasons, by the way. we said look at this stock, traded north of 40 million shares i think you flushed a lot of people out there's a very good chance you get a tradeable bounce from here you just mentioned finish line that stock rallied today and foot locker rallied today. you're not finding these on valuation bec

jamie dimon says he is tired of the focus on short-term results.ello, and welcome to "daybreak asia." i am haidi lun here in sydney. betty: and i am betty liu in new york. we are thankfully not talking too much about north korea. it is all about the iphone. and apple shares and how they are reacting. but i know you have breaking news on south korea's job data. haidi: the unemployment situation in south korea has been a real problem and the key campaign promise of the new president. augustthese numbers, the adjusted jobs rate at 3.8%. a little higher than the 3.7% expected. still continuing to be an issue. we are watching the data more closely coming out of south korea, given the trials and tribulations with the north. if we take a look at the markets, it was so much and apple story. but also the absence, continued northrom hurricane irma, korea, that pushed markets of higher overnight. big relief rally yesterday, that may have carried over into today's trade. it let's see where the markets ended up today. you have shares like financials leading the

jens: jamie dimon also said that they are risky and more troublesome than what we have seen with thewo lip prices in the netherlands. on one side, he could be talking textbook as bitcoin and other crypto currencies are competitors to some of the banking business of the traditional banks. we should not forget, it is still a rather young industry. yes, there is a lot of wild stuff going on, not just with bitcoin, but with other crypto currencies. the so-called ico market that is the equivalent of ipo's here on the stock market. you and i could give out bitcoins, the question would be if anybody give us the money. so there is wild stuff going on, but the jury is still out and it is too early to release a that bitcoin actually are blowing up, how jamie dimon put it. >> thank you. and from wall street to silicon valley, which has faced charges a treat men and women differently in terms of pay and career options. now three former google employees, women, suing the firm on claims of unfair pay. correspondent: google in the crosshairs. three former employees filing a class action suit in san

. >>> jamie dimon says north korea is the biggest threat mankind faces right now, after pyongyang threatens an h-bomb test but the jpmorgan ceo thinks investors should stay calm >> i wouldn't price a crisis in north korea or nuclear war into the market geopolitics is always a surprise sometimes positive, sometimes negative the history of mankind usually resolves itself. >>> theresa may hopes her speech in florence will break the brexit deadlock as she prepares to offer better protections for eu citizens as well as outline the divorce payment plan. >>> l'oreal shares jump as the death of heiress liliane bettencourt puts the beauty company's agreement with nestle under review, opening the door for a stake increase or even a full buyout. >>> good morning it's friday. let me get straight to some data in the form of the eurozone flash pmi for september. we saw prints coming out of germany and france those were much better than expected what you're seeing from the eurozone is better than expected flash composite is 56.7 verses a forecast of 55.6 and an august print of 55.7. that's better than exp

he used to say approvingly jamie dimon is to have youest son of a gun in american business didn'ty block chain is going to be disruptive to banks internet lends itself to publishing main event something money a come modality is extraordinarily useful here to say. maria: explain how you get paid i mean just to reiterate what jamie dimon said quote it is worse than tulip bulbs won't end well somebody is going to get killed not a real thing eventually will be closed dimon said, said anybody trading bit coins at j.p. morgan is going to be fired for just being stupid that is what he said. >> patrick. >> well, remember the year half ago jamie dimon wrote a letter to shareholders saying this is going to eat our lunch was scared the death of it i think they thought they could get in front of it they are realizing they can't get in front of it. it is -- it is not -- how high can bit coin go? question how low can dollar go how low can saul fiat i love to debate, met physical status of bitcoin couple years ago janet yellen was creating 85 billion something every month i think called them dol

. >> that was jamie dimon, speaking at the delivering alpha conference, with a pretty strong takedown of bitcoin, which took a hit on the comments. a widely followed investor refuted dimon's comments >> is it a fraud >> no. >> will it blow up >> it cannot blow up what countries can constrain today is how it's effectively traded but it cannot control it it is a fundamentally distributed system that exists peer to peer and so to the extent that you can basically eliminate the will and actions of every single person in the world, you can eliminate it but in the absence of that, the genie is fundamentally out of the bottle whether we like it or not. >> he also said he's been massive long bitcoin since 2012. he controlled at one point 5% of the total market cap who is right in this i go to bk knowing what the answer is going to be. >> listen, i think jamie dimon is wrong one, the genie is out of the bottle here. also, jasony talked about how governments are going to shut it down bitcoin is designed to go around governments. that's exactly what it was designed for and you're starting to see

so unlike a jamie dimon comes along and says because it's a fraud and keeps doubling down it's really hard to it's really should like to shriek from a dying dinosaur a tarpit it's i feel almost pity for jamie dimon which is hard to believe but it's almost like a man is caught in a tar pit is already being eaten by an alligator screaming for his life and. because of my feelings for him i wouldn't ever help him but but do you share my thought on this you know i was on a panel earlier and somebody mentioned it's almost like the postmaster general complaining that email is a scam because you know we don't have stamps that we don't control it and i feel the exact same way i think jamie is part of a dying breed of business professionals that likes being in control of the way the world works and he's a bit scared that like the kings of old europe in one thousand nine hundred three the new century is going to bring many changes which don't bode well for his supremacy. i got to ask you this technical question here we've got about a minute what's the difference between proof of steak and proof

and i used that jamie dimon example. that was not that long ago that jamie dimon bought his stock at approximately $53 a share and here it trades in the '90s so we have had movement in the banks. and obviously, recently, we've had less movement to the upside. and i think a lot of it is the climate we're in, north korea, there are all kinds of things. obviously, there are interesting factors going politically, as well so there's a lot of different factors on why i think we're not seeing the explosive moves, but if you go back a year and a half or two years and start to look at the financial move, it is a very explosive moved to upside we're seeing the one thing i did want to hit on, stephanie talked about rotation you know where the rotation has been how many times have we come in on the last month and unusual activity has been around materials. you go through that and that's where the rotation has been. if we don't, if that rotation stops, and we stop seeing a rotation from one sector to the next, i think we have a littl

i am sure jamie dimon is aware of that and that is partly why he said it.ous not too sure how settle these things and the chances for fraud and factors like that. if they got fired for doing stupid things most trading rooms would be empty because everyone does something stupid in their trading life at least once. largehat could be rid across everybody's lives. want to go back to what the bank of england may or may not end up doing. if today's data is strong, how strongly bid would you expect the pound to be? pent-up, the positioning is asymmetric. i am wondering what the positioning squeeze could look like if we do get a decent number today. go a very long way. goyou think, if you consider all the way back to the actual brexit vote in june last year, we were trading somewhere closer to 1.5 on the pound against the dollar. look at where we are, 133 or so and it went down so quickly from 120,50 area to the technical resistance is pretty limited between here and the 150. if they get the sense that u.k. interest rates are going up, the pound could raise very qu

jamie dimon got attention yesterday for a trash talking of the currency. xpt over the past week has been seeing a little bit of a come down. in particular, the selloff yesterday when jamie dimon was speaking and it has continued lower today. if you look at the bloomberg terminal, quite a run going into today. and thetarted in 2015 gains that bitcoin has had. on the bottom, showing the relative strength index, which shows whether, a given asset is oversold or overbought. it has not been oversold. going back to 2015, in other words, the momentum has been solidly outside and after the selloff over the past couple of days, still not at a oversold reading. that mean it would touch the green line. we will see if the selloff continues and the biggest of those level. shery: get questions about bitcoin, should we buy it? thank you for the latest on the market. vonnie: record stock prices are provoking concerns in some corners of the market with one hedge fund billionaire running the course of caution. the chairman and ceo of omega advisors spoke with betty liu abou

pretty in line with what jamie dimon said.avid: we appreciate that, abigail, doolittle -- abigail doolittle. this is bloomberg. ♪ david: this is bloomberg markets: balance of power. let's get a check on the "first word news." mark: u.k. foreign secretary boris johnson says hurricane devastated british territories are in his words, in massive need of the 25 million pounds of a. johnson made the comments outside a damaged hospital. he says military personnel are helping with rebuilding efforts across the island. they head of the european union healthieris in a economic state than it has been in more than a decade and is ready to move on. the commission president said the eu is bouncing back after a tough 10 years. >> the wind is back. we now have a window of opportunity, but it will not stay open forever. let's make the most of this momentum and catch the wind in our sales. mark: he also said the european union is into its fifth year of economic recovery with unemployment at a nine year low. two top house democrats alledge micha

jamie dimon, as you said, from jp morgan, said it was a fraud, and it is worse than the chula bolt, whichwhen they were the big investment fad in the netherlands. the worrying thing is we could all go and buy it and invest in cryptocurrency, like bitcoin, in seconds, and people have been seduced by the very sharp price, you know, $4000, it has gone up price, you know, $4000, it has gone upa price, you know, $4000, it has gone up a couple of thousand dollars, thatis up a couple of thousand dollars, that is extraordinary. some of these are, as the watchdog has said, effectively a scam, because you don't know what you are investing in and you cannot track it. it is not like having a gold bar in the safe, is it? know, and you're not looking at the share price of a major company. where does it leave bitcoin and future cryptocurrency? it is very ha rd to and future cryptocurrency? it is very hard to regulate. we will reach a point where bitcoin is probably going to face some form of official regulation. it is against the philosophy of how it was started in the first place. the trump dynasties b

jamie dimon on cryptocurrencies, bitcoin to tulipmania. a $1000 rolls out iphone, but you will have to wait until november. from new york city, good morning. good morning. a warm welcome. we get you set up for the trading day. after twofter straight days of gains. the euro firmer. higher.es grinding morning >>r this . >> apple's stock down. suppliers like this. the apple watchmaker getting a nice jump. >> a whole new review. time now for the morning brief. apple had an announcement yesterday. unveiling a $999 iphone. the iphone 10 is the most expensive phone ever from apple was one of three new models tim cook showed off at an event at the new headquarters. the event came on the 10th anniversary of the launch by steve jobs. phone, and an internet communicator. -- are youphone getting it? these are not three separate devices. this is one device. [applause] iphone.e calling it today apple is going to reinvent the phone. tim cook said the new phone signals the next era of smartphone evolution. iphone wet advanced have never made come a new de

the boss ofjpmorgan jamie dimon is definitely not a fan of bitcoin.mon called the virtual currency a fraud and said it was created out of thin air. he added that only criminals and people living in north korea, ecuador and venezuela should invest in it. bitcoin slid in value by 4% following dimon's comments. 0ne bitcoin is currently worthjust over $11,000. we'll unpick that one as well in the news review. i'll see you very soon. goodbye. a report by the public spending watchdog claims the government hasn't done enough to tackle homelessness in england. the national audit office says the problem is costing more than £1 billion a year to deal with and says welfare reforms are partly to blame for the rise. the government says it's investing 550 million to help deal with the issue. chi chi izundu has the details. homelessness in england is on the rise and the reasons are varying, from lack of social housing to less affordable private rental properties and even a reduction in housing benefit are being blamed. the number of families in temporary accommodati

the debate over cryptocurrency has jamie dimon labeled bitcoin a fraud. some calling it a bubble.it is not real. and some disagree. he is starting a $5 million cryptocurrency hedge fund, with a comeback to professional money management. he sat down with erik schatzker to explain why bitcoin is appealing to macro traders. >> in a lot of ways, this is a market like any other market. and you can, you see the psychology of fear and greed and, and the same way that you would see them in the charts of the dollar-yen or treasuries. they are exaggerated because of less liquidity. there is not a good way to short. so, when they fall, jamie dimon makes a comment or china bans the exchanges and they fall further than they would have, because there is not a short base to cover. so you reach a new level of support and it kind of rebuild your base. >> how do you know when the bonds sell? how do you trade this thing? mike: it is just macro, so you change -- trade the prices. i always tell people, i need a story and a chart. driven andit is -- access to information. one thing i keep trying to do

. >> critics will say, one of the biggest critics is jamie dimon, saying bitcoin is a fraud. >> jamie dimon is a smart man. i respect him. he will not cut the branch on which he's sitting because the business model of jpmorgan is to take money from people >> is he just making those comments because the banks are underprepared? >> the banks are trying to catch up but the view, in fact, as i would think people view bitcoin as internet. as an example, you're in thailand, you have some skills, you want to sell furniture unfortunately you only have your domestic market. with bitcoin you can access a global market, you just need to set on your website a bitcoin address, you are good to receive the equivalent of your currency on your e-commerce website for you and me, we don't have their currency to send to them, but we can send bitcoin easily so this has a great value for developing the e-commerce globally we think bitcoin is a vector for that >> you run a bitcoin hedge fund. would call yourself a marketmaker, and you've been running this for five years, which is an eternity in bitcoin term

bitcoin down at 23% after jamie dimon, said he thought bitcoin could be a bit of a bubble. if we hopped into the bloomberg and look at the technicals of bitcoin, we could see more of a decline. over the last year, up nearly 500%. the 60 day moving average, the , it few times that happened has dropped to the 100 day moving average. it could be a drop of 40% from the top. this is bearish action for bitcoin. abigail doolittle, thank you. president donald trump had dinner with the house and senate minority leaders at the white house last night, as we know. today, he tells the press he sees a dreamer deal happening within the next six months. the president also discussed the future for the u.s.-mexico border wall. president trump: very importantly, what we want -- we have to have a wall. if the wall is going to be constructed, when we need the funds at a little bit later date -- we will be determining how much we need -- we will not be doing anything. vonnie: president trump is setting out to look at hurricane relief efforts in florida. let's bring in kevin cirilli from capitol

going to have the kind of misstep that wells fargo had. >> i'll remind you and everybody else that jamie dimon will be out -- >> will be there tomorrow as well. >> yeah. >> so interesting speakers who could potentially make news and dimon could impact his own stock. >> can i make one point here, maybe it's only important to me. it's been almost four months since the s&p has traded within basically a 3% range i mean, it hasn't gone outside of that even in an intraday base, so, you know, on days like today we see the market up almost a full percentage point and we think, okay, we're off to the races. got to remember we've seen this a lot in the recent past, and it may well reverse tomorrow. >> all right, irma, the hurricane, tropical storm. causing massive damage from the florida keys to georgia. millions of people in florida without power. at one point 60% of the homes were in the dark meteorologist david bigger is causing the storm as it causes major problems throughout the south, right >> as tropical storm irma has been weakening it has been getting disorganized and the cloud sheer has moved

morgan and jamie dimon spoke at a financials conference.talked about his own company and said third-quarter trading revenues on track to be down by about 20%. there was some trash talking of bitcoin. he said that point won't end well and called it a fraud worse than to level -- to look -- tulip bulbs. trading bitcoin, i would fire them in the second. [applause] for two reasons, it's against the rules, and they are stupid. julie: against the rules and they are stupid. we know now what jamie dimon thinks about that coin. julia: he's not one to hold back. one of these things that interesting, merrill lynch says this is the most crowded trade out there. scarlet: all you have to do is look at the price. there's a big question about the utility of that coin in places like china. where people don't necessarily want to give any indication of where their cash is, this is one way to hide or put your cash somewhere else, where the government can't necessarily track whether you are taking out of the country. julia: lots of questions and it doesn't mean

simon: i cannot speak for what jamie dimon might say. i look at bitcoin and in a time when you try to look for a safe haven, i'm not necessarily istain a cryptocurrency where i would want to be focusing my energies. when you look at the recent performance of bitcoin, you come to suggest the broader market has not taken that you either. i think in times of real stress, you want to have something you genuinely understand. matt: can we just keep in mind that this bit of software code, simon, has claimed to -- even if it has come down from almost trade, it is still -- bitcoin. if you look at the long-term chart, it is amazing that something people were mining with nintendo's is now trading for $4000 a pop. is this a fraud? say anythingd not like that. i do not know enough about it. what i would say is that any price that moves like that looks an awful lot like a bubble to me. guy: things tend to go up, and the come down. isn't the yen strength simplly down to repatriation flows? simon: that is the two points. it is about repatriation flows a

there's a massive opportunity, i know jamie dimon pooh-pooh'd it yesterday, i get it. this is a revolutionary product. >>> ahead, this down stock you're looking at right here, there it is, is up nearly 30% this year. but a top technician sees something that could spell trouble ahead. >>> meantime, here's what else is coming up on "fast. >>> just keep buying >> that's what a top technician is saying about tesla. when you see the charts, you might agree. >>> plus "fast" is going to hollywood in search of emmy gold and perhaps the two stocks that could walk away. thbie g winners this weekend the names when "fast money" returns. ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. your bbut as you get older,ing. it naturally begins to change, causing a lack of sh

aspen institute and we are beyond talking about jamie diamond our moving on to the consequences of jamie dimon and the world in which these sort of parasites and habits and create now this is from the bank of international settlements which is the central bankers central bank muted inflation a trillion dollar puzzle says b.a.'s the conundrum of stubbornly low inflation despite a pickup in global growth and continued monetary. stimulus is a trillion dollar question the umbrella body for the world's leading central bank said on sunday the bank of international settlement said and its quarterly report that keep borrowing rates in the rare simultaneously expansion of advance and developing economies are driving financial markets higher with signs of exuberance starting to emerge but they can't figure out why despite all the new debt the inflation is not happening what is the primary mandate for central banks around the world is to have an opinion about inflation janet yellen echoed these sentiments in her testimony what else jonah can explain what's happening is inflation she said no i don't know

eighty eight is it doesn't have to be specific to any one person and there's this parasite jamie dimon. so.

. >> take that, jamie dimon. i don't know if you're watching or listening or not. it might be too early for him. china's crackdown on the ico, that was a bit of a shock and led to the big selloff do you think other regulators will follow suit and ban trades? >> krip tow graphic tokens and assets and the mechanisms that allow them to move create a capital formation and incentive advise technologies. we've seen this in the birth of protocols like the etherium and we're seeing a lot of interesting projects as a break through in how capital formation can happen in technology, it's irreversible. the question is if these tokens are really behaving like securities and sort of don't pass the howie test as they say, then they ought to be treated as securities you know, in that case government regulators are going to be involved and there will need to be regulated exchanges and the like. >> very quickly, 20 seconds. what's the plan for your company? where is it going? >> our core business circle pay is a free service for consumers. it's an app that lets people send and recei