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View Full Version : Blithe Masters interview - JPM does not manipulate silver


Fusion
04-05-2012, 10:16 PM
I was getting on a plane getting settled today when directTV in the seat back was showing this interview. I don't know if anyone else saw it but here is the link to the interview if anyone is interested. Of course the pilot kept coming on over the PA system so I couldn't hear the whole interview. But what I did hear is she publicly denies JPM manipulating the silver market. They take orders from clients and then simply hedge their own position against those of their clients. I know I've tried to follow the numbers many times only to give up frustrated. Anyone want to give this a shot? For those waiting for the CFTC to do something, they may be waiting a long time from what I heard.:rolleyes: I'm all ears, so please enlighten.

http://www.cnbc.com/id/46808857/CNBC_EXCLUSIVE_CNBC_TRANSCRIPT_SENIOR_COMMODITIES_ CORRESPONDENT_SHARON_EPPERSON_SPEAKS_ONE_ON_ONE_WI TH_BLYTHE_MASTERS_J_P_MORGAN_HEAD_OF_GLOBAL_COMMOD ITIES_TODAY_ON_CNBC_S_POWER_LUNCH

lonewolf
04-05-2012, 10:18 PM
She sure is pretty.

Fusion
04-05-2012, 10:20 PM
She sure is pretty.

I wouldn't kick her out of bed for eating crackers

10293
04-05-2012, 10:24 PM
"THAT'S RIGHT. IT'S NOT PART OF OUR BUSINESS MODEL. IT WOULD BE WRONG AND WE DON'T DO IT. "

uh...um...ahhh...ok?

Fusion
04-05-2012, 10:32 PM
Well, specifically if she goes on national TV to address silver manipulation and lies, I don't care how good looking she is, she will be toast. Career over, no one would ever do business with her etc... So she risks quite a bit to do this, not some idiot like Corzine. So I'm questioning the motivation for lying it being such a small market, yet they talk specifically about silver. For those too lazy to read the link, here is the response which still leaves me scratching my head. Are they really manipulating silver market based on this seemingly logical answer?
SO JUST TO GIVE YOU A SIMPLE EXAMPLE, WE STORE SIGNIFICANT AMOUNTS OF COMMODITIES, FOR EXAMPLE, SILVER, ON BEHALF OF CUSTOMERS WE OPERATE VAULTS IN NEW YORK CITY, IN SINGAPORE AND IN LONDON. AND OFTEN WHEN CUSTOMERS HAVE THAT METAL STORED IN OUR FACILITIES, THEY HEDGE IT ON A FORWARD BASIS THROUGH JPMORGAN WHO IN TURN HEDGES ITSELF IN THE COMMODITY MARKETS. IF YOU SEE ONLY THE HEDGES AND OUR ACTIVITY IN THE FUTURES MARKET, BUT YOU AREN'T AWARE OF THE UNDERLYING CLIENT POSITION THAT WE'RE HEDGING, THEN IT WOULD SUGGEST INACCURATELY THAT WE'RE RUNNING A LARGE DIRECTIONAL POSITION. IN FACT THAT'S NOT THE CASE AT ALL. WE HAVE OFFSETTING POSITIONS. WE HAVE NO STAKE IN WHETHER PRICES RISE OR DECLINE. RATHER WE'RE RUNNING A FLAT OR RELATIVELY MATCH BOOK.

Blagio
04-05-2012, 10:33 PM
That's right. They just do what their clients (Fed) wants them to do. No harm there... :rolleyes:

B

Fusion
04-05-2012, 10:50 PM
Still not a reasonable response yet...just sarcasm.

So Blagio, based on your response you believe the Fed has asked JPM to manipulate the price of silver. To what end? So we will all be slaves to the debt based fiat system and corrupt crony capitalism. I just want to make sure I understand as these are common words thrown around when discussing POS manipulation.;)

10293
04-05-2012, 10:52 PM
Still not a reasonable response yet...just sarcasm.

So Blagio, based on your response you believe the Fed has asked JPM to manipulate the price of silver. To what end? So we will all be slaves to the debt based fiat system and corrupt crony capitalism. I just want to make sure I understand as these are common words thrown around when discussing POS manipulation.;)

I think that would be just an added bonus as a result. An extra perk if you will.

Carpenter
04-05-2012, 11:05 PM
IMO JPMorgan has been stinking up the place for some time.

If something is rotten in Denmark, she'll regret the interview.

It's been pointed out JPMorgan commodities desk tripled there revenue last year.
Their clients have been very busy. :rolleyes:

Blagio
04-05-2012, 11:13 PM
Still not a reasonable response yet...just sarcasm.

So Blagio, based on your response you believe the Fed has asked JPM to manipulate the price of silver. To what end? So we will all be slaves to the debt based fiat system and corrupt crony capitalism. I just want to make sure I understand as these are common words thrown around when discussing POS manipulation.;)

IMO, The Banksters are here to serve a purpose and that is to maintain the current ponzi dollar system to stay in control for as long as possible. This includes the largest of banks in addition to the "non government, non private" Federal Reserve. Remember one rule, the financial institutions always win. No matter how bad or good the economy is, they always win. They own the politicans, they lobby the government with enormous amounts of money publically and nonpublically. Banks have been around for thousands of years and will be here long after my short existence on earth.

The Money Masters will say/do anything behind closed doors and in public to ensure the status quo is maintained. You only need to do a little research on Youtube with our latest Chairman Bernanke on how the whole housing crisis went down. These are supposed to be the smarted individuals in economics and you can't tell me they didn't know what was going on or what they were doing.

When, not if, the dollar ultimately fails, you can guarantee the banks will already be one step ahead of the masses in scheming the next money system, if they already aren't. I can tell you, one of the banks I deal with is already setup for a multicurrency system. It's just a matter of giving it a name. Whether it be SDR's, Ameros, digital currency backed by gold and silver or any other form. They will always be in control of the worlds monetary system and they get to choose what system we play by.

If you already haven't watched the video Money Masters by Bill Still, I would suggest devoting an hour or so to watching it. It just about explains everything you need to know about our financial institutions and how we got to where we are today.

To answer your other question about everyone being slaves to the system, I would say we all have a choice to play the game or not. One can choose not to go into debt, one can choose not to be in the fiat money system (or have very limited exposure) to where you are not a slave to anyone. Money is anything someone will put a value too. It can be dollars, metals, other hard assets. But it all revolves around control.

“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

I hope I have answered your questions with more than just sarcasm. :D

B

Carpenter
04-05-2012, 11:41 PM
... For those too lazy to read the link, here is the response which still leaves me scratching my head. Are they really manipulating silver market based on this seemingly logical answer?
SO JUST TO GIVE YOU A SIMPLE EXAMPLE, WE STORE SIGNIFICANT AMOUNTS OF COMMODITIES, FOR EXAMPLE, SILVER, ON BEHALF OF CUSTOMERS WE OPERATE VAULTS IN NEW YORK CITY, IN SINGAPORE AND IN LONDON. AND OFTEN WHEN CUSTOMERS HAVE THAT METAL STORED IN OUR FACILITIES, THEY HEDGE IT ON A FORWARD BASIS THROUGH JPMORGAN WHO IN TURN HEDGES ITSELF IN THE COMMODITY MARKETS. IF YOU SEE ONLY THE HEDGES AND OUR ACTIVITY IN THE FUTURES MARKET, BUT YOU AREN'T AWARE OF THE UNDERLYING CLIENT POSITION THAT WE'RE HEDGING, THEN IT WOULD SUGGEST INACCURATELY THAT WE'RE RUNNING A LARGE DIRECTIONAL POSITION. IN FACT THAT'S NOT THE CASE AT ALL. WE HAVE OFFSETTING POSITIONS. WE HAVE NO STAKE IN WHETHER PRICES RISE OR DECLINE. RATHER WE'RE RUNNING A FLAT OR RELATIVELY MATCH BOOK.

So basically, she went on TV, and claimed JPM was operating within the law?

Fishy.

ingots
04-05-2012, 11:48 PM
think she would admit it?


whats funnier is why they would allow this to be shown.....
think about it. coming out and saying we dont is actually admitting we do BUT dont look here........

why do they feel the need to defend themselves suddenly??????? publicly? even?

FING fishy you ask me.......

:eek:

argentine
04-05-2012, 11:49 PM
Posted this earlier - thread got moved to general discussion:

https://www.kitcomm.com/showpost.php?p=1694341&postcount=10

Argentine

And again, you don't make 2.8 billion, which if it is gained only on a service fee is preaty much pure profit, by simply being flat.
To make 2.8 Billion one would have to trade for clients between 9,000 to 11,000 times that amount! That would account for more than all their trading activity in the metals for the whole year. Feel free to do the math.

Skrap
04-05-2012, 11:52 PM
Well, here is my take on it. I read the interview ( didn't see the pic of the hottie, though) and any time I hear or read an interview on ANY subject and the interviewee starts off the answer with "That's a good question" , "Another good question" screams to me that these people have something to hide and are about spew a mouth full of verbal diarrhea.

ingots
04-05-2012, 11:59 PM
sothey are protecting themselves from silver??

hmmmm no wonder :eek:

insert hedge means protect

Carpenter
04-06-2012, 12:01 AM
Posted this earlier - thread got moved to general discussion:

https://www.kitcomm.com/showpost.php?p=1694341&postcount=10

Argentine

Dug this up while I was over there (ZH)

Just getting started:
From 2008 Are The Brokers Broke

http://pix.cs.olemiss.edu/econ/repoHouseOfCards.pdf

chartsrgood
04-06-2012, 02:29 AM
I play hearts sometimes... the card game...on the computer

sometimes the way the cards come out I just know the game is manipulated

ifionlyhadsomegold
04-06-2012, 05:37 AM
an interview on ANY subject and the interviewee starts off the answer with "That's a good question" , "Another good question" screams to me that these people have something to hide and are about spew a mouth full of verbal diarrhea.

great question, horrible lie of an answer.

:D

Comet
04-06-2012, 05:44 AM
Posted this earlier - thread got moved to general discussion:

https://www.kitcomm.com/showpost.php?p=1694341&postcount=10

Argentine

And again, you don't make 2.8 billion, which if it is gained only on a service fee is preaty much pure profit, by simply being flat.
To make 2.8 Billion one would have to trade for clients between 9,000 to 11,000 times that amount! That would account for more than all their trading activity in the metals for the whole year. Feel free to do the math.

How many years of world production?

ifionlyhadsomegold
04-06-2012, 05:59 AM
How many years of world production?

exactly!

the clients hold say 100 million oz. physical. if i was hedging would i sell 600million oz. in one day?

:confused:

how stupid are people to buy into this?

captainpooby
04-06-2012, 07:03 AM
Posted this earlier - thread got moved to general discussion:

https://www.kitcomm.com/showpost.php?p=1694341&postcount=10

Argentine

And again, you don't make 2.8 billion, which if it is gained only on a service fee is preaty much pure profit, by simply being flat.
To make 2.8 Billion one would have to trade for clients between 9,000 to 11,000 times that amount! That would account for more than all their trading activity in the metals for the whole year. Feel free to do the math.

Or, if they were flat, their clients lost a lot of money being long.

Carpenter
04-06-2012, 08:40 AM
I play hearts sometimes... the card game...on the computer

sometimes the way the cards come out I just know the game is manipulated

That's right chartsrgood, wall street traders have never engaged in spurious activity.

Jim Cramer Comes Clean
"The mechanics are much more important than the fundamentals,"
"Who cares about the fundamentals? Research in Motion just blew out the quarter. Look what people can do. That’s a fabulous thing. The great thing about the market is that it has nothing to do with the actual stocks."



Well..... he's the only one.:rolleyes:

7 May 2010. Two warrant traders convicted of market manipulation.
26 January 2012. Broker convicted of market manipulation.
Jul 14, 2010 – The former head of Germany's IKB bank has been convicted of market manipulation
Dec 9, 2011 – Hoong Kee Tang, a former director of Wintech Group Limited, was convicted on four counts of market manipulation
May 27, 2010 – A Hong Kong court has convicted a Sun Hung Kai Investment Services broker of market manipulation
Jul 26, 2011 – Christopher Pia, former head trader at Moore Capital, agreed to pay $1 million to settle CFTC allegations


Well......... none of them would be involved in such shenanigans now:

"A JPMorgan trader of derivatives linked to the financial health of corporations has amassed positions so large that he’s driving price moves in the $10 trillion market, traders outside the firm said."

http://www.bloomberg.com/news/2012-04-05/jpmorgan-trader-iksil-s-heft-is-said-to-distort-credit-indexes.html


Yes sir,
market manipulation is non-existent, anyone who thinks otherwise is to be ridiculed, and SEC Litigation is just a witch hunt......


http://www.sec.gov/litigation.shtml

Fusion
04-06-2012, 10:27 AM
Thank you Blagio and others that have responded. Just seeking a little discourse about this open denial of manipulation of the silver markets on prime time MSM. Sure, it seemed fishy, but that was a very specific and direct denial for all the world to see, or ignore. I appreciate the responses.

IMO, The Banksters are here to serve a purpose and that is to maintain the current ponzi dollar system to stay in control for as long as possible. This includes the largest of banks in addition to the "non government, non private" Federal Reserve. Remember one rule, the financial institutions always win. No matter how bad or good the economy is, they always win. They own the politicans, they lobby the government with enormous amounts of money publically and nonpublically. Banks have been around for thousands of years and will be here long after my short existence on earth.

The Money Masters will say/do anything behind closed doors and in public to ensure the status quo is maintained. You only need to do a little research on Youtube with our latest Chairman Bernanke on how the whole housing crisis went down. These are supposed to be the smarted individuals in economics and you can't tell me they didn't know what was going on or what they were doing.

When, not if, the dollar ultimately fails, you can guarantee the banks will already be one step ahead of the masses in scheming the next money system, if they already aren't. I can tell you, one of the banks I deal with is already setup for a multicurrency system. It's just a matter of giving it a name. Whether it be SDR's, Ameros, digital currency backed by gold and silver or any other form. They will always be in control of the worlds monetary system and they get to choose what system we play by.

If you already haven't watched the video Money Masters by Bill Still, I would suggest devoting an hour or so to watching it. It just about explains everything you need to know about our financial institutions and how we got to where we are today.

To answer your other question about everyone being slaves to the system, I would say we all have a choice to play the game or not. One can choose not to go into debt, one can choose not to be in the fiat money system (or have very limited exposure) to where you are not a slave to anyone. Money is anything someone will put a value too. It can be dollars, metals, other hard assets. But it all revolves around control.

“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

I hope I have answered your questions with more than just sarcasm. :D

B

caluca
04-06-2012, 10:31 AM
The real question is, why hasn't TPG posted in this thread yet? Someone call his house and make sure he's OK.

Nameless user
04-06-2012, 10:53 AM
"It's not part of our business model. It would be wrong and we don't do it".

First good laugh of the day

Atlas Shrugged
04-06-2012, 11:15 AM
She sure is pretty.

Really? I can't see it, but I normally look at people's hearts.

caluca
04-06-2012, 11:27 AM
Really? I can't see it, but I normally look at people's hearts.
I try to only look at hearts, but I always have a hard time looking through the glorious mounds of flesh blocking my view.

Atlas Shrugged
04-06-2012, 11:35 AM
I try to only look at hearts, but I always have a hard time looking through the glorious mounds of flesh blocking my view.

Well, my wife is the same age as her and I know my wife is 10X better looking.

2sides2silver
04-06-2012, 11:36 AM
I was getting on a plane getting settled today when directTV in the seat back was showing this interview. I don't know if anyone else saw it but here is the link to the interview if anyone is interested. Of course the pilot kept coming on over the PA system so I couldn't hear the whole interview. But what I did hear is she publicly denies JPM manipulating the silver market. They take orders from clients and then simply hedge their own position against those of their clients. I know I've tried to follow the numbers many times only to give up frustrated. Anyone want to give this a shot? For those waiting for the CFTC to do something, they may be waiting a long time from what I heard.:rolleyes: I'm all ears, so please enlighten.

http://www.cnbc.com/id/46808857/CNBC_EXCLUSIVE_CNBC_TRANSCRIPT_SENIOR_COMMODITIES_ CORRESPONDENT_SHARON_EPPERSON_SPEAKS_ONE_ON_ONE_WI TH_BLYTHE_MASTERS_J_P_MORGAN_HEAD_OF_GLOBAL_COMMOD ITIES_TODAY_ON_CNBC_S_POWER_LUNCH

the same people that believe that big banks dont manipulate the spot price also believe in SANTA CLAUSE and the EASTER BUNNY! lmao.

Port2
04-06-2012, 12:48 PM
Well, specifically if she goes on national TV to address silver manipulation and lies, I don't care how good looking she is, she will be toast. Career over, no one would ever do business with her etc... So she risks quite a bit to do this, not some idiot like Corzine. So I'm questioning the motivation for lying it being such a small market, yet they talk specifically about silver. For those too lazy to read the link, here is the response which still leaves me scratching my head. Are they really manipulating silver market based on this seemingly logical answer?
SO JUST TO GIVE YOU A SIMPLE EXAMPLE, WE STORE SIGNIFICANT AMOUNTS OF COMMODITIES, FOR EXAMPLE, SILVER, ON BEHALF OF CUSTOMERS WE OPERATE VAULTS IN NEW YORK CITY, IN SINGAPORE AND IN LONDON. AND OFTEN WHEN CUSTOMERS HAVE THAT METAL STORED IN OUR FACILITIES, THEY HEDGE IT ON A FORWARD BASIS THROUGH JPMORGAN WHO IN TURN HEDGES ITSELF IN THE COMMODITY MARKETS. IF YOU SEE ONLY THE HEDGES AND OUR ACTIVITY IN THE FUTURES MARKET, BUT YOU AREN'T AWARE OF THE UNDERLYING CLIENT POSITION THAT WE'RE HEDGING, THEN IT WOULD SUGGEST INACCURATELY THAT WE'RE RUNNING A LARGE DIRECTIONAL POSITION. IN FACT THAT'S NOT THE CASE AT ALL. WE HAVE OFFSETTING POSITIONS. WE HAVE NO STAKE IN WHETHER PRICES RISE OR DECLINE. RATHER WE'RE RUNNING A FLAT OR RELATIVELY MATCH BOOK.

I give her credit for doing the interview but it was on the occasion of JPM donating a $5 M gift to the University of Colorado to help fund a Center for Commodities. Was the donation & interview designed to deflect attention from something else? As for risking her career, I believe she does what she is told to do.

http://online.wsj.com/article/SB10001424052702304072004577326352198319654.html

http://www.thestreet.com/story/11026295/1/jpmorgan-fighting-10000-lawsuits.html

First link all of article can be read if you go to google news.

Fusion
04-06-2012, 12:53 PM
the same people that believe that big banks dont manipulate the spot price also believe in SANTA CLAUSE and the EASTER BUNNY! lmao.

Oh, so now you're bringing Santa and the Easter Bunny into this...that's crossing the line.:D

TheorisT
04-06-2012, 01:23 PM
I'm not sure why you'd be looking for sincere responses to this. Was anyone expecting her to admit to malfeasance?

Them overtly denying it changes absolutely nothing.

SilverTongueDevil
04-06-2012, 01:31 PM
I only caught the last couple minutes of it and what I got out of it is Yes we want more transparency and regulations but remember if our and others trades are regulated and become to transparent it will be harder for them and others to hedge against..

Fusion
04-06-2012, 01:48 PM
I'm not sure why you'd be looking for sincere responses to this. Was anyone expecting her to admit to malfeasance?

Them overtly denying it changes absolutely nothing.

Why not? This is the silver forum and she is constantly under attack for JPM's actions here. So i posted this rebut to hear reactions - last I checked this was acceptable. All I'm saying is it certainly deepens the hole, if indeed there is a hole. I've yet to see any proof. Former CFTC commissioners have brought this to their attention, yet nothing is done. I've gone through the numbers, they never add up. Sometimes the discrepancies are huge. She presents a seemingly non rehearsed response in a very public forum as to what they do and why. I simply wanted others opinions and why. Now we have yours, thank you!

AgAuCaliente
04-06-2012, 02:09 PM
I would agree that she probably says what she's told to say. My take on the interview is someone is setting her up to be the fall-girl. I would not be surprised if she is implicated in some "scandal" like the IMF chief in the near future. It definitely has a feeling of a red herring, and it is odd that silver is singled out specifically and uniquely, as the commodities markets involve quite a few others, and oil is more widely known to the common person. Perhaps it's just a coincidence. :rolleyes: Tonight, I will rest a lot easier knowing that there is no manipulation in the silver market. Finally, a link to back it up.
:D

Mike Hunt
04-06-2012, 04:31 PM
Oh, I don't know about that. ;)

http://www.youtube.com/watch?v=KiIP_KDQmXs
KiIP_KDQmXs

ifionlyhadsomegold
04-07-2012, 07:48 AM
She presents a seemingly non rehearsed response in a very public forum as to what they do and why. I simply wanted others opinions and why.

i think it was rehearsed to the extent they didnt want to rehearse it anymore. other than that is was unrehearsed...


:p



pure JPM propaganda.
please!
:rolleyes: