'I’m telling you this is going to happen,' the JPMorgan Chase chief executive said to regulators. 'And you are going to panic. I’m not going to panic. We’ll be fine.' https://on.ft.com/3Z5fYxh
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The US is a failed state. It’s time for all sane nations to drop the US dollar for international trading and liquidate all US treasury bonds. A robust retaliatory measure to combat the destabilizing trump regime. Get in early! The US dollar will depreciate exponentially once the divestment starts.😎
JP Morgan Chase has been mired in corruption almost since its inception. Fortunately, greedy a*sh*les like this are typically in for a rude awakening when they realize that what affects one, affects all. Especially on such a wide scale. Even from an ivory tower, it will catch up to him.
The thing that's a little fucked about their strategy is that while the number of dollars they have might go up, the value of the dollars will go down, and maybe quite a lot. It will hurt average people *worse*, but they're hurting themselves as well.
They have all come out of the recent crash richer. The rest of us have watched our pensions and the cost of living get wrecked, but politicians short sold and earned millions. They aren't coming out of this worse. Even if the dollar crashes, it'll be Trumps doing and they'll short sell it
Those are tiny trades...I suppose he might have made enough on that to buy a Mazda. I mean I'm not saying no one makes insider trades, but that's about the mildest I've seen.
He's not wrong to be worried. With the 30-year Treasury yield already up a full point since Jan 1st, the cost of borrowing for the US (and everyone else) is clearly feeling the pressure
The Titanic is sinking but first class passengers shall be fine - unlikely. Firstly, banks usually use their govt’s debt for repo-funding and, secondly, they tend to own sizeable assets of their govt or correlated to it with the effect that govt debt volatility translates into their capital.
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From leading Financier, fails to calm markets.
🤦🏻♂️
https://bsky.app/profile/andersaslund.bsky.social/post/3lqjmljzcts2c
The discretionary budget at that time (last year) was about $5.5 trillion