You can always count on Jamie. Let’s see: “Gee, sorry folks, we are stupid and made a mistake (mea culpa). We regret we made a mistake (admission/affirmation). We are very strong and we will address our little glitch and move forward from here (all is well). Now, if those dam regulators had just done their job and given us more freedom to do what we do best, all this never would have happened.” (someone else’s fault)

I wonder if/who shorted JPM these last few weeks? (JPM? Giant Squid?) So, today so far we see gold and silver down as the race to cover continues. Hey, covering another $3 billion puts pressure on a guy. So, where’s the upside? Could it be surreptitiously overweight gold, silver and their stocks; accumulate the physical somehow; get the retailer’s invested; run the logs, HFT, MSM, MOPE; somehow uncouple the PMs from the $US…and if all else fails, get the next bailout from the taxpayers positioned.

The nice man interviewed today on BNN called JPM’s ‘mistake’ (there it is again) unfortunate but it ‘really shouldn’t affect things much and it represents only a small portion of their business’. He has put a ‘buy rating’ on JPM with a target of $45. Is absolutely everyone in the world in league with or ‘scared shitless’ of JPM and Blythe? (we know the regulators/SEC/ CFTC etc. are.)… and how much of the grand plan do they already know about?

See Jesse: http://www.jessescrossroadscafe.blogspot.ca/

“11 May 2012

JP Morgan Failure Shows the Incompetency of the Fed As Regulator And a Corrupted Government

The spin machine is revving up, and the spokesmodels are gesticulating wildly, in an effort to direct and deflect this failure of governance at JPM.

See how manfully Jamie Dimon has come clean on this. And look how well the Fed's capital standards are protecting us from a failure at JPM because of this unfortunate but 'manageable' trading mistake. This will be a buying opportunity!....”