International Banking Source Update On Beginning Derivative Default And Huge JPM Loss!

• Disclaimer: I am unable to confirm or deny the accuracy of this source! However, it does provide confirmation of what Jim Willie (JW) mentioned earlier! Draw your own conclusions!
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  International Banking Source Update On Beginning Derivative Default And Huge JPM Loss! 
  by Steve Quayle, http://stevequayle.com/ 
  May 29, 2012
  Steve,
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   Here is the latest run down on JPM. They are stopping their share repurchasing for this very reason. You see their is a two front issue with JPM ; one, their naked shorting of the silver market which is well documented and two, their massive derivative exposure.
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   The derivative market that JPM plays in is the CDX.NA.IG.9, when factions within their London office (London Whale) made overly leveraged swaps, hedge funds smelled blood and so did a few banks. You see any moves that JPM does here on out exposes their weakness further. Which they can not afford any more exposure thus they are not buying back any more shares which is the equivalent of cutting an artery in a pool full of sharks. The strategy they are taking right now is to sit through the storm and ride it out as they can do nothing else for any action will make them even more vulnerable.They can not absorb hits in both JPM SLV and CDX.NA.IG.9. Inactivity is not something they want to do it is something they have to do. There is no other choice for them.
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   JPM is now in a panic as they are trying to unwind their losses without further signaling loss which will cause the other Big Banks like RBS, UBS, SocGen, PNB and Goldman Sachs will make at least $500 billion each on JPM’s position. They will do this by cooking the books.
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   Steve this is the truth, JW and others are right about the losses of JPM’s position, the reality is…brace yourself, the loss is over $150 billion!!! That is from the $100 billion loss in CDX and the $50 billion in other over-leveraged bets against it.
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   Massive is an understatement. The Fed and Dimon is working overtime to cover up the fissure, they can keep the sharade going for only so long. Many were looking for the collapse to begin in the derivative market, this is the sign everyone has been looking for, again…BRACE YOURSELF.
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  Regards,
  V.

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