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Jp Morgan Boss Spends Annual Salary On Jp Morgan Stock - History Rhymes?

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Jamie Dimon, chief executive officer of JPMorgan Chase & Co (JPM.N), on Thursday bought 500,000 shares of the company's stock for more than $25 million, according to a filing with the U.S. Securities and Exchange Commission.

JPMorgan shares closed at $53.07 on Thursday. The stock has fallen nearly 20 percent this year, in line with the decline of the KBW Bank Stock index .BKX.

JPMorgan shares have fallen as the outlook for bank profits has dimmed with expectations of continued low interest rates, higher costs for bad loans, particularly related to energy, and a slow economy.

11th Feb 2016


---- Roll back to 1929

Top American Bankers Try to Save the Banking System

On the next day, Friday, October 25, several of the nation’s largest bankers met to decide what they could do about the situation. Among the attendees were the heads of Morgan Bank, Chase National Bank, and National City Bank. The bankers ultimately decided to purchase a number of U.S. Steel shares above market price. A similar tactic worked to end a previous stock market scare in 1907 when the New York Stock Exchange plummeted, causing many banks and businesses to file bankruptcy. American banker J.P. Morgan and a few other bankers bailed out the banking system using their own money. The bankers who tried to thwart the 1929 stock market crash were unsuccessful. There were positive results, but they were short lived.

In those days, the stock market traded six days a week instead of five. The bankers’ move led to a slight increase in stock price on Saturday, October 26. But over the weekend many investors lost faith in the stocks and decided to sell their shares. When the markets reopened on Monday, October 28, 1929, another record number of stocks were traded and the stock market declined more than 22%. The situation worsened yet again on the infamous Black Tuesday, October 29, 1929 when more than 16 million stocks were traded. The stock market ultimately lost $14 billion that day.


JPM Stock price for future reference - it made a new 2 year low.


Edited by 200p

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It surely does doesn't it?

I had this same thought when I read the news earlier.


'The British billionaire Joe Lewis splashed out millions of dollars on Bear Stearns shares just a few hours before the troubled investment bank ran out of money last week and appealed to the Federal Reserve for a bail-out.'

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Well the JPM stock is up nearly 8% saving itself from a Friday close 2 year new low. So history is clearly rhyming. We'll see in the next few days if this is the abyss or they have managed to "save" the world.

I don't think any media outlet is allowed to make the connection with this weeks events and 1929 - so I think we're the first people to sniff this out.



Banks to investors: We're safe

NEW YORK-- In an effort to quiet doubts about its financial health, German lender Deutsche Bank said it would buy back $5.4 billion in debt — sending the battered stock soaring.

12 Feb 2016


Edited by 200p

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JP Morgan boss did the same in 1929 please see from 30 minutes onwards in this documentary:


Here's a US version of the 1929 crash documentary 36sec in about JP Morgan. The stock buy back worked in 1907 - but not in 1929. Take a 50/50 bet in 2016?


I note that Rangold Resources chopped it's debt down, and raised it's dividend by 10%.

Is Rangold the Homestake mining of the 21st Century? Not cheap shares though - £61 each.


(Do your own research)

Edited by 200p

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just shows how important knowing a bit of history is. the JP Morgan announcement was another huge confirmation that the markets are heading down badly.

also the various 'our banks are rock solid' announcements, roughly translated to 'we are 100% bust, when we go we are going to leave a black hole that sucks in the sun'

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It's all about confidence....

Another documentary and another take on instilling confidence into the market. Starts 22mins in.

I've not seen this one before - but the after effects were startling, and there are some pictures taken back then that might be new to you. There was a shanty town created in Central Park.

Edited by 200p

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