JPMorgan Responsible for the Destruction of U.S. Financial System

[gopbuster]

I have not totally absorbed this yet but posting anyway:


Stock-Markets / Financial Crash Oct 16, 2008 - 05:19 PM

By: Jim_Willie_CB

Stock-Markets



The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner.


The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings. The ugliest hidden activity for the JPMorgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funneled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the USGovt, given the privilege of insider trading in unspeakable proportions.

They manage the Plunge Protection Team efforts to intervene in financial markets, making America strong for freedom and liberty. The new kid on the block is the FDIC. The Federal Deposit Insurance Corp is steering fresh meat into the corralled JPMorgan stockyards for slaughterhouse feeding. The label of harlot might be too kind, especially from the perspective of senior bond holders. But JPMorgan requires fresh meat (capital) periodically, thus making America strong for freedom and liberty. Never mind the fires caused after its hearty meals and flatulence.

This article discusses the JPMorgan monster, its behaviour, and teeth revealed. Robb Kirby (see his website, click HERE ) often covers JPMorgan illicit behaviour This article discusses banking system realignments to destroy savings accounts owned by the people, and the Coup d'Etat just completed. The criminals on Wall Street have taken full control of the USGovt financial management, with blank check written by a thoroughly intimidated US Congress, deceived steadily and easily. Threats and intimidation are central to the successful coup. The Ponzi Scheme has been revealed, even as the frail and tattered Shadow Banking System has been revealed. The key to the bailouts is its continued Top Down approach, which favors the Ruling Elite and denies all but crumbs to the people, who have been subjected to a foreclosure revolving door on mortgage loan assistance.

long article more>>>>> http://www.marketoracle.co.uk/Article6826.html

[RUMMYisFROSTED]

1. k

[DrDebug]

2. Very interesting

It's pretty difficult to verify though. I started at the juiciest part and it cannot be confirmed from secondary sources.

J.P. Morgans owns a bank in Iraq called the Trade Bank of Iraq, however American Contractor says that 49% of the Bank of Baghdad is owned by the United Gulf Bank of Bahrain. ( http://www.americancontractor.com/2007/05/the_real_deal_banking_in_iraq.html ) That can be partially confirmed by a 2005 story of UGB acquiring 39.1% of the Bank of Baghdad ( http://web.archive.org/web/20060416074531/www.ameinfo.com/71835.html ). On May 6, 2008 UGB was acquired by Burgan Bank, a subsidiary of Kuwait Projects Company incorporated in ... the Cayman Islands of course. ( http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=BURG:KK&sid=a_hSC2lAGRrs ) Nevertheless I cannot find an ownership of J.P. Morgan in the Bank of Baghdad.

J.P. Morgan controlling the Bank of Baghdad is also alleged by IDP Consulting group, a precious metal broker ( http://www.idpconsultinggroup.com/news/idp_consulting_news/petrodollar_warfare_collapse_of_u.s._dollar_imperialism_r_4.html?Itemid=45 ), however even though that story is properly sourced, that particular line isn't and could well be a circular reference based on Willie's OP.

The Bank of Baghdad is referred to a lot of a drug trafficking clearinghouse and seems to feature in many 419s (Nigerian email scams) as well, so that part is probably correct and might explain the current Kuwaiti owners in the Caymans.

[DrDebug]

3. The Trade Bank of Iraq is much more interesting

First of all it was established by Paul Bremer:

Paul Bermer's Order #20: Trade Bank of Iraq

Pursuant to my authority as Administrator of the Coalition Provisional Authority (CPA), and under the laws and usages of war, and consistent with relevant U.N. Security Council resolutions, including Resolution 1483 (2003),

(...)

I hereby promulgate the following:

Section 1
Establishment

There is hereby established an institution to be known as the Trade Bank of Iraq
(TBI). The TBI shall be an independent governmental entity, and is hereby
authorized to perform such activities as are necessary to accomplish its purposes,
consistent with the Charter of the TBI.

(...)

CPA/ORD/14 July 2003/20

http://en.wikisource.org/wiki/Order_20:_Trade_Bank_of_Iraq

Well it wasn't exactly an independent government entity, because Paul gave the Bank to J.P. Morgan.

So what does the Trade Bank of Iraq do:

"Each ministry, when it is trying to open a credit, asks the Ministry of Planning. The Ministry of Planning asks the Ministry of Finance. The Ministry of Finance will ask the Central Bank. The Central Bank will go to the Trade Bank of Iraq," he said, drawing lines between the circles.

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/16/AR2008101603800_pf.html

To make it even more profitable, the oil revenues are routed via ... the Trade Bank of Iraq

The money to pay for the contract came from Iraqi oil revenues held by the Trade Bank of Iraq, but under the control of US officials.

http://www.guardian.co.uk/business/2007/mar/20/iraq.uknews

mortgaging the national oil revenues through the Trade Bank of Iraq, a bank managed by New York-based multinational JP Morgan Chase, Iraq ministers can now borrow billions of dollars to buy equipment from overseas suppliers. The Trade Bank of Iraq was formed partially to replace the trade guarantees established by the U.N. oil-for-food program. Unlike the oil-for-food program, the Trade Bank guarantees are administered by the private sector and various government export credit agencies. Although the Occupation Authority and J.P. Morgan Chase are making it possible for Iraq to trade with the outside world and buy necessities, critics express concern that the multinational banks may be shackling a future Iraqi government with an unknown quantity of debt, and that the Trade Bank of Iraq will favor companies from contributing nations, regardless of whether they offer the best products for the price.

http://www.eca-watch.org/WhatsNew/WNV3_2004/WhatsNewV3N2.html

They did need to find an Iraqi to run it ... and the winner was:

Chalabi’s family runs much of Iraq’s economy: his grandnephew Hussein al-Uzri heads up the Trade Bank of Iraq, through which all Iraqi government purchases are made. That’s despite the fact that his only banking experience was handling software for ATM machines.

The day after Chalabi was confirmed as deputy prime minister, the bank signed a agreement with the family company, Card Tech, to provide card processing services for a range of Visa cards. The company was eventually sold to American company Total System Services for $54 million in July 2006.

Of course, a family of member of John McCain's old friend Ahmad Chalabi. Wonder whether McCain will get 0.5% of the popular vote like his friend Chalabi.



So in short, I think that the OP makes more sense when it would have talked about the The Trade Bank of Iraq instead of the Bank of Baghdad which is basically a "normal" local Iraqi bank which existed prior to occupation as well.

[gamingthemarket]

4. Crash the Market and Monopolize It

One story you will not see in the major media is how and why J.P. Morgan and Goldman Sachs might be the only ones left standing. That's assuming JPM and MS merge back together. It was the Glass-Steagall Act which broke them up, but thanks to incumbent agenda and Phil Gramm that's no longer an issue since it was repealed in 1999.

Read our three most popular articles and you will be able to see who is pulling the strings and why they knew this would happen. When you dig into the history of the main players you will find a common thread of prime relationships: social, financial, and political.

For instance, Hank Paulson was Chairman/CEO of Goldman Sachs and on the board of governors of the International Monetary Fund which is closely tied to the Rockefellers who have the Rockefeller Center at Dartmouth where Paulson went to school. They also owned Chase Manhattan Bank which merged with JPM after Phil Gramm paved the way. They sit on the Senate Finance Committee and have guys like Timothy F. Geithner of the New York Fed in their personal think tank called the Council on Foreign Relations.

Guess what corporations sit on that board? That's right, Goldman Sachs and JPMorgan Chase.

http://www.gamingthemarket.com/2008/09/crash-market-and-monopolize-it.html