The news jus' keeps getting worse for our buddies Jamie & Blythe doesn't it? Jefferson County files for biggest municipal default in history... who caused it? Guess... Who's now on the two biggest unsecured creditors lists ever to have been spawned... You got it... From Zerohedge about 20 mins ago: START Update Update: Yep, it's official: JEFFERSON COUNTY COMMISSION VOTES FOR RECORD MUNI BANKRUPTCY, commissioners vote 4 to 1 to screw over JP Morgan "Commissioners are now discussing the motion. They have not voted yet. Things are fluid. Stay tuned." The bad news for JP Morgan just keeps on coming. According to the Twitter account of Birmingham News, "Jefferson County Commission makes motion to file bankruptcy." We translate this to mean that the "avoided bankruptcy" state has just metamorphosed into simple "bankruptcy" - granted one which will be the largest municipal bankruptcy in history. This means that JP Morgan is now on the Unsecured Creditor Committee of the two biggest bankruptcies of 2011: MF Global and JeffCo as well. And so the second major domino after Harrisburg is down. Many more coming. END
I'm curious about this, if they are the biggest creditor to the muni what did the muni provide as collateral for the loans? i doubt the loans provided where unsecured. Can JPM start re-possessing parks or schools?
California County severs all ties with BoA & JP Morgan over municipal fraud & 'questionable' business practices this week - a damn smart move! http://www.rawstory.com/rs/2011/11/...organ-bank-of-america-over-fraud-settlements/ VRS x
JP Morgan has bought between 50-80% of ALL AVAILABLE copper through London Metals Exchange this week - given the precedent set by their ongoing attempts to suppress the price of silver on international markets it may be a good time to go out & buy some rolls of copper wire if you're going to update the electrics in your current home or new-build project (!) http://silveristhenew.com/2010/12/05/jp-morgan-purchases-copper/ VRS x
Ted Butler - Latest interview 11.11.11 (2 parts) on Criminal manipulation of SILVER - the story so far: http://www.youtube.com/watch?v=D0YCJ3XyFig pt1 http://www.youtube.com/watch?v=BLMO8WIfHWs pt2 VRS x
http://www.jpmorgan.com/pages/jpmorgan/au/tss/ts/international_cash_management Oddly they seem to have left 'F&cking Jefferson County over good & proper' and 'Trousering $700M of CME client's money in just ONE month' off their list of 'International Cash Management Services' Funny that... x
BRILLIANT IDEA! JP Morgan is going to sell a NEW product starting 2012 - An 'investment derivative' composed of ALREADY DEFAULTED LOANS!!!! IS ANYBODY UNDERSTANDING THIS?!?!?!?! Now we know where George Osborne gets his ideas... http://silverdoctors.blogspot.com/2011/11/jp-morgan-to-issue-mortgage-backed.html This is not only the stupidest idea I've heard so far but ABSOLUTELY ILLEGAL & IMMORAL... and do you know what, there are idiots & baksheeshed bankers' cronies & FA's who'll sell these products on... SHOOT 'EM SAY I!
The History of the US Banking System, The US Fed - How it all came to fall into place, orchestrated by Rothschild & their agents... A long read, but very worthwhile information - Remember this isn't a FICTIONAL account... This is THE TRUTH... http://www.apfn.org/APFN/reserve2.htm Enjoy - And please spread the knowledge of who truly controls the World financial systems to as many as you can... x
How JPM aided & abetted the biggest municipal default in history - This is an absolute SHOCKER - and should be making China well aware of what they're in for if they try to transfer state/regional govt financing onto Joe Public & investment vehicles hand in hand with JPM by way of issuance of municipal bonds...... http://moneymorning.com/2011/11/11/...-largest-municipal-bankruptcy-in-u-s-history/ x
The build-up to WAR is underway... from GoldSilver (video): http://goldsilver.com/video/it-won-t-be-an-accident-the-build-up-to-world-war-iii/
I don't sleep much - I have calls coming in from my UK business 6pm-4am EST - quick swim & then light brekky - maybe grab a couple of hours kip after the kids have gone to school or get back into my old habit from Marbella of snooze 11am-1pm, siesta... When I was a student & in my early 20's I had to get 8-10hrs every day - thesedays I seem to be OK with much less... Also after the experience I had with my 3 boys in Christchurch in Sept 10 when we managed to get out together alive with relatively minor injuries I value the time I have much more now... and I don't suffer fools any more to ANY degree - people who don't understand this are generally in for a shock Or maybe it's the MANopause?!?!?! Right, time for some more ballooning x
One business that imports containers from Oz & NZ doing children's products, educational stuff etc into UK & Europe & another business based in Manchester which does retail gifts, jewellery, cards, homewares, lighting, artwork... So in the next 6 weeks we'll basically be doing equiv of 3 months' normal turnover because it's Xmas... They're both very 'people' oriented businesses obviously, so I love that side of things - and making deals of course... I also have a record label which is more of a hobby now & an artist management side which is run by my partner in Newcastle, so we deal with most of the major labels (well, the 3 remaining major labels!) and a bunch of regular independents... it's a small concern now owing to filesharing but we've had US Billboard 1&2, 18 UK top-40's and a UK no4 silver, so it had a good run - Because it's one of the original labels of a group that set up in UK & NYC in the early 90's I get invited to all the media bashes each year, but seldom go... I used to tour manage bands thru Europe and had a live production company until 1991, when we used to do staging, monitor stacks, spots etc on tours for acts like Fleetwood Mac, Pink Floyd, Dire Straits, Prince, Metallica, Bryan Adams, Guns n Roses, David Bowie - sold-up to my partners - I'd had enough of being on the road by then... And then I found myself in another part of the World, with a beautiful wife, and a beautiful house... And I thought to myself... How did I get here????? Still trying to work that one out... No way could I have stayed in NZ tho'... x
Nice that sounds awesome! I'm currently brainstorming business ideas that I'd like to start, it has become an obsession lately really. I'm still relatively young to start thinking about these things but I really want to get "ahead of the pack"so to say in order to hopefully establish something earlier rather than later. The building, crafting, an idea from its inception is really appealing to me as well as the other perks that come with managing your own business. Also I'm not really sure if I care what sector I choose to try make a start in, for me it isn't really the sector that matters it's more so the lucrativeness. The "business" part of business is what attracts me most - I'm not sure if that is the right way of going on about but I guess it all goes hand in hand. I guess the best business man is the one that can make all the stakeholders happy and then you won't have to worry about cash flow. Anyway that is my little spiel, hopefully it gives you a little more of an idea why I asked you about what you did.
Sounds like a plan Lav - the funny thing is Life tends to throw up a million opportunities over long periods of time - you can blink and suddenly 10 yrs has whizzed by... and unless you take one of those opps or 'roads' you never know where it might lead... funny that feeling. Some of the people I went to school with ended up at Cambridge, Oxford or Princeton... and others ended up as bin-men or flippin' burgers - several died along the way too, chasing their dreams or dragons. Others who I worked with went off to be major players in what they do - like Noel Gallagher (Oasis), Jon Ronson (journo & writer who penned 'Men Who Stare At Goats' which became the film starring Clooney, Bridges, McGregor & Spacey) or Garrett Lee, singer in a band I used to share an office with, who won a Grammy for co-producing U2's 'Atom Bomb' and the first 2 Snow Patrol Albums... The World is full of opportunities but as I keep reminding my own boys, only you can make them happen and see those dreams become reality... Literally if your head's screwed on right and you have an eye for something that the market doesn't cater for then you may be on to a winning idea... Luck plays a big part in that of course too - eg: I know a woman in the US called Sally Sparkes, who had a knock on the door one day and it was a guy from a geo survey company - he asked if it would be OK to test the soil on her acreage, so she agreed. Three weeks later she got a lawyer at the door from one of the big multinational cosmetic companies asking her if she'd be interested in selling her MUD lol! So she came to a deal... And her mud now goes into a shed load of facepacks for Max & L'Oreal - she makes about $2M every year off it for 15 years... I didn't know if you were still at college - I dropped out from a business degree in UK after my 2nd year because I was offered a job paying silly money & didn't fancy 5 years of postgrad wages or on a commercial trainee scheme, so that's when I started working for myself. It hasn't always been easy but it's good to be in control. Just don't go getting an Arts degree or something like that - stick with engineering, business, mining, law or the like - any of those can take you places liberal humanities degrees never will. Best of luck with it - keep the dream alive & DLTBGYD! x ps - 2 of the best ideas I remember were those Evopak milk cartons invented by the Rausing brothers in Germany and also - the best thing to come out of NZ since the All Blacks - the Springfree trampoline... brilliant, simple ideas work best... 'widgets' that everyone needs is another - something low cost, massive potential application - and huge volume sales.... Hmmm... got me thinking now! pps - When u mentioned about 'stakeholders' that's a different sketch to say taking on finance from the bank - but if you can prove a working model first by getting thru the first few years using eg: family & friends as stakeholders then that puts you in a much better bargaining position if & when you want to go down the private equity and/or bank funding path which you might inevitably need to, whether for expansion or for helping ease cashflow as the business grows. Always try to keep the ball in your court - don't give anyone more than 24.9% if they want to buy shares in the first few years - after that try to keep control of no less than 51%, until you want to dispose.
Bloomberg 16/11/11 The Financial Industry Regulatory Authority ordered JPMorgan Chase & Co. (JPM) to reimburse customers more than $1.9 million for losses incurred from recommending unsuitable investments and fined the firm $1.7 million. Brokers with Chase Investment Services Corp. made almost 260 unsuitable recommendations to customers to purchase unit investment trusts with significant holdings in high-yield bonds, resulting in losses of about $1.4 million. The firm's brokers also recommended the purchase of floating-rate loan funds, which may be illiquid or subject to significant credit risk, to conservative customers, resulting in losses of almost $500,000, according to a statement yesterday by Finra, the Washington- based self regulator for the securities industry. JPMorgan neither admitted to nor denied the charges, according to the release. The U.K.'s Serious Fraud Office, which prosecutes white-collar crime, is working with the U.S. Federal Bureau of Investigation and the Department of Justice, according to the person, who declined to be identified because they weren't authorized to speak about the case.
Blythe sneaks a pile of phys after market - but where did it come from, this 638,000oz of shiny shiny? The Doc has an idea... Hmmm... MF Global by any chance? "MF Global is taken down on Oct 31st/Nov 1st. About a week later the CME begins reporting that 1.4 million ounces of registered silver is unaccounted for and unavailable for delivery-including 627,182 ounces from non-cartel banks. Roughly 7-10 days afterwards, JP Morgan suddenly reports a deposit of 613,738 ounces into eligible vaults. Exactly 7 days later, JP Morgan adjusts this silver into registered vaults. JP Morgan has not had a significant silver deposit in MONTHS prior to this 613,738 deposit if my recollection serves me." http://silverdoctors.blogspot.com/2011/11/did-jp-morgan-just-convert-614000.html
Foreclosure agent implicated in robo-signing found dead in Nevada - not suicide... http://www.zerohedge.com/contribute...es-robo-signer-whisleblower-found-dead-nevada
