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Jamie Dimon Has Found The Massive Loophole In Financial Reform

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posted on Nov, 9 2010 @ 06:10 PM

There's definitely something to Simon Johnson's new theory that it's no longer about "Too Big To Fail" but rather "Too Global To Fail."

In a big piece at The New Republic, the former IMF economist and professor argues that the key to escaping the Dodd-Frank resolution authority is to become so big internationally that governments around the world see the need to ensure your survival.

This June, Dimon returned from a two-week visit to China, India, and Russia, and announced an even more aggressive expansion. Senior executives were ordered to look beyond Western Europe—where most of JP Morgan’s foreign investment banking is focused—and seek opportunities in emerging markets. In addition to Brazil, Russia, India, and China—the emerging powerhouses known as the BRIC countries—JP Morgan is looking at Southeast Asian nations, such as Vietnam and Indonesia, the Middle East, and parts of Africa. The bank plans to triple its private banking assets in Asia over the next five years and hopes to make Asia the source of half its non-domestic business. “We are going to get the whole company behind [the international strategy],” Dimon told The New York Times.

If Dimon is successful, he will create a bank that is not just too big to fail, but too global to fail. There is no conspiracy here: JP Morgan is simply responding to the available incentives. This international push is terrific corporate strategy and completely legal under our reformed financial system. But it also happens to be very dangerous for the rest of us.

It's not just JPMorgan, he reckons. All the big banks will begin pursuing the strategy of getting so global that a US-only wind-down isn't a reasonable end, come a crisis.

This makes perfect sense and puts many or most of us in the most vulnerable position for the future as the banks seek only Globalization. This will be the biggest Bailout of them all.

posted on Nov, 9 2010 @ 07:13 PM
reply to post by antar

We should already all know that the too big to fail / too international to fail scenario is the loophole, but I did learn something in this article and it occurred to me that the rats are leaving the sinking ship. Diversification out of US markets into BRIC countries' markets... very interesting and a true indicator of the future.

posted on Nov, 10 2010 @ 08:19 AM
reply to post by Iamonlyhuman

Thank you, I don't claim to be an expert by any means but I did take time to ask a friend who is one of the big players and he lead me to this article. It makes seense though and what I need to know is how long before it all takes place, but then that would take a crystal ball I am afraid.

There is a ton of great info on the links provided above and those links and the people behind them do stay on top of the reality of this new wave in global finances.

There was an article that I read last night and there are several discussions ongoing right here on our forum about how you can claim state citizenship and drop your citizenship at the federal/US level, interesting stuff as it went on to talk about how when the US citizenship was originally set up it was specific to the slaves being freed, however as time went on it became a way to keep all people under the federal ownership.

You learn something new everyday and when you seek to discover information on finance and go to the root of it, there are things that just blow ones mind, and make it so clear that we are part of the agenda, that we are the agenda and ownership goes much further than just real estate or monetary gain, these Globalists want to own more than the financial world, they want each individual. Take a look into agenda 21.

posted on Nov, 10 2010 @ 08:34 AM
Citi: We Just Got The Signal That Foreign Central Bankers Will Begin Selling Dollars

Last week we reported on a note from Citi FX strategist Steven Englander, who predicted that central bank reserve managers would begin dumping dollars in the coming weeks, based on a key set of criteria.
Today he confirms that the criteria have been met:
Last week we published our analysis of reserve manager behaviour and presented a trading rule based on the following conditions:

1) The USD fell in the prior calendar month;
2) The (currency valuation adjusted) increase in reserves in our subset of reserve managers is positive; and
3) Higher than in the previous month

Read more:'snew.html

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