Time Magazine: Fed is Responsible for the JPMorgan Blow Up ...
"Is the Fed to Blame for JPMorgan's $2 Billion Blowup? ... The JPMorgan $2 billion-trading-loss story is nearly a week old, and the news has predictably gone through the various spin cycles of the political right and left. Initially, progressives pounced on the loss as reason to strengthen the yet-to-be-fully-implemented Dodd-Frank financial reform law. Conservatives then pushed back on that conclusion arguing that the loss was not a disaster for shareholders given the size and profitability of the bank overall, and that therefore policymakers shouldn't overreact with more stringent regulation. However, there is another, smaller chorus of voices that is blaming neither government inaction nor banker recklessness, but the policies of the Federal Reserve. These critics are arguing that excessive intervention by the central bank has distorted financial markets and forced big banks to resort to risky moves in order to maintain profits." – Time Magazine
Dominant Social Theme: Maybe the Federal Reserve ought to be better mannered.
Free-Market Analysis: Another limited hangout from a mainstream publication. In this case, Time magazine. This is how the game works. One never calls for the end of central banking – only for central bankers to DO BETTER.
And here we go again. Time magazine (business) is out with an article blaming JPMorgan's losses on Federal Reserve monetary policy.
The putative, near-term reason for launching this explanation is to ensure that JPMorgan is given some sort of rhetorical cover. That's the way it seems to us.
The elites who want to run the world depend on Wall Street and other major banking centers for their control over money. These dynastic families control central banking but they have to control the distribution arms as well.
Implosions at top firms like JPMorgan are bothersome. The "help," like James Dimon, are given a helping hand when possible. The mechanism is to use controlled mouthpieces of the mainstream press...MORE...LINK
Comment by "Chris Moore" on So Who Wants a Hot War?, by Pepe Escobar - Careless whispers in Brussels corridors swear that MI6 actually believes that in the case of a volcanic but as it stands still preventable hot war with R...
25 minutes ago