JP Morgan’s Frauds are Epic,Unprecedented in World History-William Black

blackBy Greg Hunter’s USAWatchdog.com   (Early Sunday Release)

William Black is both a Professor of Law and Economics.  He has a wealth of opinions on the politics of spying and Wall Street crime. On President Obama’s curtailing of NSA spying, Professor Black says, “It is only because of Snowden’s disclosures that we know more, and we have this debate . . . The NSA probably intercepts 50,000 documents for every one document that foreign intelligent services collect.  So, we are the story internationally. . . . It turns out we were not just spying on terrorists, we were spying on the general population of the world. . . . We used the intelligence we were gathering against journalists to try to discourage whistleblowers from coming forward.”  As far as President Obama’s recent curtailment of NSA spying, Professor Black says, “It really tells you the politics of the thing.  They decided they had to do something politically to curtail this because they are getting terrible publicity, and they’re getting terrible publicity not just in the United States. . . .  This turned into disaster in terms of public relations for the United States and in terms of diplomatic relations.”  

Professor Black is a former financial regulator and an expert in white collar crime.  What does the Professor think about the trouble JP Morgan Chase has been in over things such as the so-called London Whale trading losses, the selling of tainted mortgage bonds and being a conduit for convicted fraudster Bernie Madoff?  Just these three legal debacles alone have cost the bank nearly $23 billion in fines, restitution and trading losses in the last year.  Professor Black says, “CEO Jamie Dimon has presided over the largest financial crime spree in world history. . . . It depends on how you count it, but it is more than a dozen, and more in the range of 15 major felonies that either the United States investigators have found, state investigators have found or foreign governments have found.”  The Professor goes on to say, “JP Morgan’s frauds are epic in scale, unprecedented in world history. . . in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”   

But, it’s not just JP Morgan.  According to Professor Black, the entire financial system is headed for an even bigger collapse.  As a major warning sign, Professor Black points to Treasury Secretary Jack Lew’s complaint about no money for regulation in the recent budget deal.  Professor Black says, “Jack Lew is the anti-canary in the coal mine because Lew has been gutting regulation for virtually all of his professional life. . . . Lew is saying, my God we’ve gone so far we’re going to cause the collapse of the system. . . . You know when Jack Lew keels over, you know that carbon monoxide has already killed everybody reasonable.”   Professor Black goes on to say, “The system is ungovernable . . . It has already largely imploded.”  Join Greg Hunter as he goes One-on-One with Professor William Black, who recently updated and re-released his popular book “The Best Way to Rob a Bank is to Own One.”

After the interview, when asked about the possibility of civil unrest, Professor Black said, “I do think we still have a pretty cohesive nation.”  Meaning, he thought the chances of widespread violence are small at this point.   When asked what it would take to get rid of the rampant fraud and crime in the financial system, Professor Black said, “I do think it will take many more trillions of dollars of losses before we make a serious response.”  If you would like to order a freshly updated copy of Professor Black’s book “The Best Way to Rob a Bank is to Own One,” please click this line.  There is a lot of new information in the updated edition. 

Comments
  1. Rodster

    2014 looks to be a turbulent year for the world economy. When George Soros chimes in it’s worth a listen even if one doesn’t like the guy.

    “George Soros just said something very worrying about China’s debt dilemma”

    http://dhnnews.com/george-soros-just-said-something-very-worrying-about-chinas-debt-dilemma/

    “The biggest risk that the world economy now faces isn’t the stability of the euro zone or the logjam of US politics, according to famed investor and philanthropist George Soros. Rather, China is the reason to doubt optimism about the global economy.

    Soros’s concern, expressed in a column for Project Syndicate, is that the Communist Party’s renewed focus on economic growth is at odds with its commitment to structural reform. He also likens China’s financial condition to those in the US before the financial crisis”

    • Greg Hunter

      Thank you Rodster for the comment and the link!
      Greg

      • Kenneth Lowndes

        It is TIME to END this Unsustainable Perpetual Debt System ~ the (non)Federal AND (no)Reserve Notes~ with one of Value.

        http://www.IVAMU.com/

        What we need is a Value Based Economy.

        We do NOT need to have a system “backed-by” Gold. NO. Nor should we desire it.

        That is how we arrived to this point. Nixon severed the Myth of Gold backed Currency on August 15th, 1971. In a single day, all currencies became FIAT by one act.

        How do we get a Value based Economy?
        It is called the IVAMU Standard for Establishing the Value of Money/Currency

        It is a hybrid form of currency, one that CONTAINS precious metal, not merely referring to it as if being someplace else. each time it has been attempted, it has resulted in the kind of situation we have today = FIAT debt based notes.

        We can and MUST do much better!

        It is so simple, and so easy to do, a Kindergartner or a Rocket Scientist can “get it,” along with everyone else in between.

    • Rodster

      As Celente likes to say: ‘The whole game is rigged from West to East’. The history books will one day write about these times….Prepare

      “Mega Default In China Scheduled For January 31″

      http://www.forbes.com/sites/gordonchang/2014/01/19/mega-default-in-china-scheduled-for-january-31/

      “Chinese leaders showed us twice last year that they now have no ability—or no will—to deal with the most important issue they face, the out-of-control creation of debt.”

      • J.C.Davis

        Rodster. How will this effect the U.S.A. Just to open a finish. Thanks.

      • allen ols

        RODSTR

        Ex-Navy SEAL Drops Bombshell On FOX: Says Government Is CREATING Conditions To Impose Martial Law
        Posted on 16 October, 2013 by clyde
        via Before It’s News

        Ex-US Navy SEAL Ben Smith joins Fox News and drops a bombshell on the US government by revealing that the government ITSELF is CREATING the conditions necessary to impose martial law here in America. This is a must watch video for those who feel martial law is merely believed by conspiracy theorists. Veterans and US Navy SEALS see the same thing!

        ALOLS FOPUSAWD

      • Jerry

        Rodster thanks for the information. This changes everything. The Chinese will no doubt go to desperate measures to save their economic system. Good-bye Bonds buying.

    • Rodster

      A fantastic interview on KWN with Robert Fitzwilson which suns up the economic global predicament we are facing.

      http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/19_This_Is_Going_To_Be_A_Disaster_Of_Historic_Proportions.html

      Fitzwilson:
      “We received some startling research last week that put into perspective how bad the current state of just one aspect of the monumental fiat money/debt creation and currency debasement has become. The statistic that we found most startling is that the year-over-year increase in the money supply from China, the United States, Japan and the Eurozone was a staggering $50 trillion….

      Much has been written about China’s desire to have the yuan be the world’s reserve currency. They certainly don’t act like it when massive amounts of currency and debt are being created. We believe that the currency bloc is being managed within a very tight range. One of the currencies can get out of line to provide a temporary advantage, but the key to the policy is that nobody gets too far out of line. Even the Chinese have a stake in maintaining the approximate relative currency values.”

    • Anne Elliott

      What’s scary about China’s downturn is Mr. Celente’s warning, which applies to all economies… “When all else fails, they take you to war.” Is that their next step with all the saber-rattling around the Japanese islands???

      • Ugly

        The Rider on the White Horse says Peace, but Peace is the very last thing on his mind….

  2. Justin King

    William Black is the perfect guest for Greg, as you need a criminologist with this form of plutocracy.
    The people calling Snowden a “traitor” are looking more and more like flag-waving tools, as he has now shown himself to be a necessity in the war of misinformation, led by the 1%er’s backed Fox “News”.
    New book : The Outrage Industry, shows more examples of how the system is becoming UNGOVERNABLE.

    • Greg Hunter

      Thank you Justin. I think both parties are in the corporate tank when they should put “We the People” first.

      • Justin King

        True, THIS TOWN by Mark Leibovich, gives the details of the bi-partisan Elite’s revolving door oligarchy.

        • Greg Hunter

          Thank you Justin.
          Greg

  3. Dan

    Excellent interview Greg! The depth of fraud makes my head spin. How can one even pretend to think this can be fixed? I’m almost rooting for the collapse, just get it over with already.

    • allen ols

      :)

  4. 8Ball

    William Black is top-notch… I would not want to have him investigating me! ;^)
    But the glaring criminality of JPM is not that surprising if you do a little research.

    Listen to the Richard Grove 9-11 interview on Red Ice Radio.
    https://www.youtube.com/watch?v=bFJwVxqD4A4&list=PLmmQ8peduhsqGHV00WZ3GaOwpMOA0WiVc&index=15

    Grove went from a naive software salesman to a whistleblower (which of course did nothing) but now he works full-time to reveal the real truth about the not so hidden masters who presume to rule over us. Check out the Tragedy & Hope website, there is a wealth of information there that explains why entities like JPM exist to prey upon the public.
    http://www.tragedyandhope.com/

  5. tROT

    There’s an old saying at the Worldbank, “give a man a gun, he can rob a bank, give a man a bank, he can rob the world!

  6. Jerry

    Greg this was a really outstanding interview. After listening to professor Black, you can begin to get a picture of just how deep the Banking fraud goes. In my mind, I believe the Chinese have caught on to just how fraudulent the markets have become, and are doing everything they can to position themselves in a position of power when the reset comes. Its interesting to see their purchase of the JP Morgan Chase Bank building in New York back in October of 2013 for 850 Million. Its even more interesting to note that the JP Morgan Chase Bank is not only a member of the Federal Reserve Bank, its former building has one of the largest Gold Vaults in America . Hmmm. I wonder what they’re planning to do with that?

    You know Greg,when you get to the bottom of the Federal Reserve Banking wood pile. its interesting to note that you find the Bank of England and the Rothchilds..

    http://land.netonecom.net/tlp/ref/federal_reserve.shtml

    Is it an wonder why the Chinese Central Bank signed a credit swop agreement with the European Banks first to set up their new exchange system? The noose is getting tighter around the U.S. Treasury. Its just a matter of time before there will be no one to buy their Bonds.

  7. art barnes

    Greg, many young intellectuals of my day warned of where we we headed and which we have now arrived; lost of privacy, rigged markets, disinformation, MSM’s “wallet” reporting, etc. The warning always landed on the deaf ears of the American people who could actually make a difference and change the outcome. Its worse today, as the average American is just barely getting by day to day with the pressures of income, family, work, and social commitments. The old saying “you can’t clean out the swamp if you are butt high in alligators” comes to mind. This is were we find ourselves so nothing will change until the system crashes itself from the weight of its own greed and ordinary stomachs get hungry. Until then no one hears the sounding of the trumpets to stop watching sitcoms and make a change for our children. Basically, what I’m saying is that we the people have a responsibility for our own-selves, if we continue to just let the elite destroy our middle class lives we deserve out fate; demise of the middle class and rise of the working poor class. If no one hears the trumpets then we must endure being further economic, politically, & socially enslaved until the elite’s greed implodes upon themselves sometime off into the future.

  8. Galaxy 500

    Greg,
    Thanks for having Dr. BLACK back!
    With his credentials, you’d think his analysis world being taken more seriously by the gov’t. That is if it were and honest government.

  9. Doug George

    Dear Greg. Another fine interview.
    As an Englishman may I humbly suggest that the Gettysburg address should now be:-
    “Government of the people, by the politicians, for the bankers.”

    • Greg Hunter

      Dad commentary for America. Our light is growing dim.
      Greg

  10. WD Deni

    Greg, Mr Black said “he thought the chances of widespread violence are small at this point”; What about the next point; when those food cards won’t work; or cash can’t be withdrawn? I believe violence is imminent. 95 mil people who can’t get food, money, rent etc.
    I don’t know if some people like him don’t want to express their true opinion or a matter of semantics. “Violenc at this point”, I live in a good sized city where I have data that shows at least 50% + are on fed/state aide.

    Does he really believe that all these people will just sit still when their lifelines just stop working. ( I believe this will be the beginning of the end). That they will just sit by and wait until problem is “fixed”? Please comment….Thank you as always!!!

    • Greg Hunter

      WD,
      He did qualify what he said by saying “. . . art this point.” In my mind it gives him some wiggle room. You do make a good point though.
      Greg

      • art barnes

        The good professor is right, the chances are small indeed! Americans will never stand up and be counted any longer. Why do you think our politicians, the government, & the elite continue to act as they do, its because they know their people (us) and that we will stand for anything, believe anything, and beyond that continue to pay the taxes and vote them back in even applauding them as heroes. Simple stated, the American people have lost their mind, their nerve, and I am afraid to say their b**ls.

        • Jerry

          Art
          Take a close look at who owns the networks. All politically connected to the government. People are still foolish enough to believe MSM sources speak the truth. As long as they provide thought control, there will be no action.

        • Liquid Motion

          Art,
          People haven’t lost their minds …if they never possessed (a sound) one in the first place. Sounds harsh, but the reality is that the vast majority of the populace still believe that the Government is their saviour. That is by design. Those in the middle that are educated enough to know that we are pawns in the game, choose to accept their fete simply by lack of alternatives. They have no choice… but to accept the road that is mapped out. This is where the whole thing gets diabolical. Our controllers (they like to think they have a pre-ordained right to this privilege) have the means and wealth to push buttons and control levers to the point of ensuring slavery of the masses whilst the 1% of the 1% Elite retire their assets/wealth into safe havens. Thus creating wealth in perpetuity. If there is a desire to destruct a system, because their position is in jeopardy, then they will proceed (but not before they have ensured that their wealth lives on). If there exists a need to de-populate to gain even more strength (through lack of/marginalised opposition combined with reduced demands/strains on any remaining/newly created system(s), then they will have no hesitation to cull the world population. This has already been written into their playbook. The means to that end are straight out of the Anti-Christ’s – Book of Evil.
          Unfortunately what William Black alludes to and many others foresee, will become reality. If you have the mind space and logic you can conclude that we have and continue to be controlled through our conscious and unconscious thought patterns. It is a gradual process that involves conditioning.
          We have succumbed. We have a collective apathy.
          When we are of no further use, we are left to fend for ourselves. They will literally burn the house down if they so desire and it doesn’t matter who’s in the house.

  11. SRV

    The good professor is always a great interview!

    When will critical minds begin to question the base premise and point out that… the actions taken to prevent a terrorist act by a handful of individuals is, proportionally excessive, well past the point of absurdity. Terrorism is a crime, and those convicted should be put away for life… the rest is simply a divide and conquer elite power play.

    Clearly, the “terrorists” have won the war… or the masters of the universe have duped the rabble, and conditioned them to accept the continual erosion of personal freedoms, yet again (btw, the “Obama did it” meme is getting very stale… governments on either side are simply doing their master’s bidding)!

  12. peter

    Jp Morgan anticipated the losses associated with Bear Sterns and WaMu and established a reserve to cover the loss. so Jamie Dimon did not lose money on the deal (i.e., it was taken into account when he purchased those 2 companies). I don’t know about the Whale trade. I would have thought that Mr. Black would have been aware of the reserve; it seems to me that he’s misleading the public and is wrong in his assertion that Mr. Dimon should be fired.
    http://blogs.wsj.com/moneybeat/2013/10/21/are-bear-stearns-and-wamu-still-steals-for-j-p-morgan/ “Are Bear Stearns and WaMu Still Steals for J.P. Morgan? ” describing the deal and the reserve established therefor.

  13. Winston Smith

    Great interview with Professor Black and like the Jackass states “The criminality is vast”
    Here’s a great article from Pail Craig Roberts and Dave Kranzler from the Golden Truth on Precious metals manipulation 101
    http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/
    I encourage your followers to check out Dave Kranzler’s blog as well, he’s pretty tuned in to all the fraud and manipulation in both PM’ and the housing market.

    Ken

  14. tsuki

    Excellent interview. I listen to all of Professor Black’s interviews that I can find, but you did an outstanding job.

    Thank you! I am scheduling another listen as I type.

  15. brian

    Economic “laws” are shaded and toned by, to the point that they could be considered incarnations of, basic natural collective human behavior. Most of the people driving the economy genetically “grew up” in areas with well defined seasons, the ebb and flow pattern of toil and rest is etched into the core of our physical being, and these patterns clearly govern the natural development of our behavior as individuals and collectively. The economy must simply be allowed to follow this same pattern, that is to say people will naturally go through periods of accelerated activity and production and development followed by very important periods of rest and inactivity.

    The self aggrandizing, spiritually flaccid, morally inadequate, short sighted, degenerate scum that has taken it upon themselves with the utmost of arrogance to experimentally endeavor in running our society have made the conscious decision to not only reap and harvest the fruit of our labors and turn the bulk of their volume to their own inane, pointless contrivances, but extend the growing season if you will, perhaps even to the point of trying to forgo the rest period altogether. The price of this is as obvious as it is inevitable, the down time is here, most of us are running on fumes and sleep walking and the financial institutions and constructs that guard and ensure their integrity are clearly not functioning. Clearly since the rest period has not been allowed to fall naturally upon us we see that our society is taking itself down in a ddelightfully indierct and poetically just manner, that is to say it is falling under the weight of the over abundance of excrement created by the foul creatures keeping things up way past thier bed time.

    Now the only question that matters is how burned out are we, have we been pushed past our resiliency, are we broken or permanently diminished, transfigured by the whole monstrous ordeal into something incapable of the spiritual bartering that plays a vital part in redemption and restoration, will we recover from this deep interruption in our natural rhythm or are we finished, destined to exist as something horrible fashioned by the indifferent, skilless, blind and careless hands of those we allowed to take the helm.

    Only time will tell now I guess.

    • Greg Hunter

      Brian,
      Thank you for adding your additional perspective and analysis.
      Greg

  16. Uglys

    It is amazing what we have allowed in terms of excess spending and financial corruption. But we must look at it from the viewpoint of the 1%ers. That is the Federal Reserve and Central Banks is ‘Their’ system and we the 99% are allowed to play. In Their view, they can quit anytime and we are the ones that own this debt. Aren’t We the 99% responsible for allowing this charade to go on as long as it has? As Professor Black stated, ‘To Rob a Bank is to Own One’….

    • art barnes

      As I have said several times here, yes, we are the responsible ones who have let it go on to long. Since Americans will never stand up except for splinter issues such as smoking grass, etc., we will have to wait until the elite’s greed finally implodes upon themselves. However, at that point in time it may well be a true banana republic police state wherein the 1% continue to rule and have all the wealth by military/paramilitary police rule.

    • Galaxy 500

      It’s amazing we allow everyone to vote. I believe you should serve in the military for two years or in some low level gov’t job for four years to earn the right to vote. Currently, we allow people to vote themselves pay raises in the form of gov’t benefits. This should be illegal and so should Congress being able to increase their own pay. It should be on the ballot and voted on.

  17. Liquid Motion

    Greg,
    William is a great coup and has a vast expanse of knowledge. Thanks for sharing.
    On the JPM saga…The whole story is bizarre to say the least.
    They take a $$$23BLN legal hit whilst fourth qtr. overall numbers are down, yearly is down on turnover and earnings and the STOCK PRICE GOES UP 33% for the YEAR.
    That is the IRONY of the markets and the so called pricing mechanism…..!!!
    They earned $$18 Bln yearly net income on the back of average 4th Qtr results with:
    * A 57% fall in earnings at the Corporate & Investment Unit
    * Consumer and Community Banking earnings go up 19%
    * Mortgage fees drop 46% confirming home loan originations are depressed
    * Asset Management net income improved 18% (owing to rising equity markets)
    * Commercial Banking remained FLAT.
    Clearly the outstanding issues have not been factored into pricing for JPM Stock for:
    – Anti Bribery Laws
    – Interest Rate Manipulation
    – Currency Benchmark Manipulation
    – Mortgage Bond Trades
    – Gold/Silver price Manipulation
    It will take the JPM team another 2 years to wash this through the court system. Assuming they still exist for that to occur.
    Interesting note JPM has dispensed with over 250,000 Employees worldwide. Cutting costs and dealing in illegal activities always works. Seems like its now becoming the only way for them to make money. Dimon is a criminal and should be serving the 150 prison sentence with his buddy Madoff.

    On the issue of all things precious ;-
    What we have witnessed occurring on the downside (AG/AU price manipulation), we will experience the same in reverse owing to those that will now control the Gold. That is absolute.

    • Greg Hunter

      Liquid Motion,
      You will want to see a special interview I am posting from Dr. Paul Craig Roberts (former Assistant Treasury Secretary and the Father of Reaganomics.) He says America has no gold and gives two reasons why he thinks this. Watch tonight just past midnight Eastern Time. Thank you for your comments and analysis LM!!
      Greg

  18. BK

    According to Maria Bartiromo, the ace financial reporter, JP Morgan and Jamie Dimon haven’t done anything illegal.

    • Greg Hunter

      BK,
      Well that settles it. I would take the word of the so-called “Money Honey” over someone who has a PhD in criminology and a former banking regulator. How could Professor William Black be so wrong and Bartiromo be so right? BK, I know you know Maria is full of baloney. Thank you for the moment of comic relief.
      Greg

  19. Gabe

    Another great interview greg, I always learn something new at thewatchdog. I came across a 30 minute video on youtube titled “all wars are bankers wars” the other day and if you get 30 minutes in your schedule go check that one out. He goes through every war from the american revolution to the gulf war and explains who really benefits after these wars are over. HINT: it’s not me or you or anyone in the middle class. We just get to PAY for it all!! Thank you again for trying to get the truth out greg

    • Greg Hunter

      Thank you for commenting Gabe.
      Greg

  20. mohammad

    Greg,

    Two very very important developments are taking place now:

    One is excluding Iran from GENVA II talks, which means one thing and one thing only, no solution in Syria for a while.

    The second one is the escalation in the gulf area towards war and the insecurity they feel from letting them down by US after the deal between Iran and US, that reached the point where the United Arab Emirate for the FIRST TIME is announcing a compulsory military service among their youth to burn them with Iran in the coming war!

    http://gulfbusiness.com/2014/01/uae-introduces-compulsory-military-service-men/#.Ut3mNCoo7IU

    Same goes for Qatar, it was in Nov 2013:

    http://www.thenational.ae/qatar-approves-compulsory-military-service-for-men-reports

    • Greg Hunter

      Mohammad,
      The road to war is being laid out. Thank you for the posting.
      Greg

    • Galaxy 500

      Mohammad,
      Thanks for the links. They show how everyone sees the coming war. And, they show how WEAK the USA is perceived to be by our former allies. Notice I said former allies (bet y’all thought I was going to say perceived weakness). Anyone in power overseas merely has to look at how Obama (and Bush at the end of his term…which I think Bush deferred to Obama…not defending him, it’s documented how he did what O wanted his last month’s in office) has treated our strongest allies: Israel,
      Egypt, Saudi Arabia, Japan and South Korea.
      We turned our backs on Mubarak. I don’t want to hear the liberal tripe that he was a dictator. The people fared much better under him than anything since. It’s not in the MSM (except Fox, and not much there) that the evil Moslems are exterminating Christians in Egypt. Obama doesn’t care about Christians and I judge him not to be one. Going to Rev Jerimah’s church doesn’t make you a Christian and in my opinion, going to a church teaching hate and self loathing counts against you.
      Israel understands that Obama and his minions detest the country and wishes it would just die. Japan got a wakeup call when Obama stood up to China with strong words and the equally and opposite strong action of surrender.
      Obama’s word seldom mesh with his actions when he is talking about America ( unless he is talking about socializing/communicating / destroying America).

  21. Jerry

    Greg I have thought back to interview I saw with Osama Bin Laden right after 9/11. The reporter doing the interview, asked him why he chose the twin towers as targets for 9/11. His response was always very curious to me. He said that he believed the United States was to strong to be destroyed militarily, that it had to be destroyed financially . ” That he compared the U.S. to this big dumb elephant, fighting a mosquito “. That if the mosquito bit the elephant over and over again, that it would eventually get sick, and fall down and die. Strangely enough , ever since the planes hit the World Trade Center, this country has been on a continuous downward spiral financially. Coincidence ? Maybe. But I sure would like to know how much the Saudis are involved with our Banking system. Probably more than we know, Especially since we use the petrodollar. It would be interesting to know, since the Chinese are now pushing away from our debt.

  22. Albert Tesla

    I think ( i heard a statistic somewhere) about half of all internet traffic is porn.

    So, the NSA has a entire database of what type of porno the typical american watches….great.

    NSA is over rated….get rid of your smart phone, get a cell phone without your registered name (prepaid) and boom, you are now free from the TYRANNICAL FORCE OF THE NSA (sarcasm). Big deal, just don’t talk about super personal things over the phone if your that concerned for privacy. In my opinion “personal” conversations should be done in person anyway.

    I stand by my opinion that the NSA was not developed to “track everyone”, i believe it is a new generation project to combat hackers and “computer terrorism” .

    Here is a little lesson on hacking. If anything is connected to a network (internet, phones, etc) it can be be hacked. Hackers use “masks” and “disguises” to hide where they really are in the world. These “masks” can come in various forms, phone numbers, email addresses, locations, etc. The NSA serves as a NATO type entity (think global) to the computing world to help oppress fraud and all things tech crime related.

    Remember the last superbowl people? The lights went out….at a NATIONAL EVENT….this was no “error”…this was a HACK…at a NATIONAL event, that just shows how much of a threat this whole situation is to civilization.

    As for Snowden… i hear a ton of people (politicians) saying “Snowden needs to be killed!”. From a strategists standpoint, this is what “they” (the government) are supposed to say and they are absolutely correct. . In the book Art Of War by Sun Tzu it says that “Spies who go against the state should be punished to the highest degree”. And that’s exactly what Snowden was. He betrayed his “state”…so obviously his former state wants his head.

    I don’t really consider snowden to be a whistle blower…i just feel like he stated the obvious…. “YOUR INTERNET/PHONE CALLS ARE BEING WATCHED” he says/said….well, no shit…. anything that’s telecommunications/internet related is obviously connected to a source recording all the transactions of information….

    Sigh….i’m getting tired of hearing smack talk towards bankers…. I said it before and i said it again, banking is war, and in war, there are no rules. Deceit and cunning are rewarded….that’s just the reality of it…

    • Galaxy 500

      “Banking is war”. Banking is business and should be managed in an ethical, non-criminal manner. The CEO shouldn’t be paid based on short term goals. That is why we have no jobs here today.
      If bankers commit crimes, they should do the time…Not pay a fine. When a system is based on corruption and fraud, it can not stand.
      I am really surprised by the lack of comments on such an important post. Dr. Black states the facts based on evidence yet no one says much but put some one on that says something based on invisible friends or voices from the beyond and the message board goes wild. I just don’t understand, but then, I learned a long time ago that the world does not need my understanding to operate.

  23. Ed

    Greg, I wish that you had followed up with questions on a very misleading statement that Professor Black made in conclusion to his thoughts on the NSA. He said:

    “The NSA is not engaged in some grand conspiracy to stage a coup d’eta, like in the old days of J Edgar Hoover where he always [sic] getting files on politicians so that he could extort them to do what he wanted and thats how he stayed in office for so long. It doesn’t appear that the NSA was involved in all that…”

    NSA whistleblower Russ Tice has stated unequivocally that the NSA does create control files on US politicians and judges, including the Justices of the US Supreme Court, members of the US Senate and House, and US Presidents (James Corbett interview of Russ Tice June 21, 2013 – http://www.corbettreport.com/interview-685-russ-tice-reveals-the-truth-about-nsa-spying/). Tice himself held Barry Sotoro’s (aka Barack Obama’s) file in his hands when working for the NSA. The presence of such files strongly suggests that there is a shadow government of the intelligence community controlling (or with the ability to control) the figureheads that occupy the governing offices of the United States.

    Professor Black’s statement in direct opposition to the revelations of Mr. Tice suggest that the professor is either:
    A) not up-to-date on the information provided by the multitude of NSA whistleblowers who have come forward other than Edward Snowden;
    B) dismisses Mr. Tice’s statements as untrue and not worth mentioning;
    C) is himself, like Professor Noam Chomsky, an intellectual gatekeeper for the powers-that-shouldn’t-be.

    I hope that we have the opportunity to hear Professor Black’s response to this concern.

    Thanks for your work!

    • Galaxy 500

      Ed,
      So the guy saying the gov’t and the bankers are criminals is the gate keepers of the criminal gov’t?

      • Ed

        That is the idea of a gatekeeper; they say enough to seem like they are critical, but they cover when needed. I am not saying that Black is a gatekeeper. I am highlighting that he ignores a very important fact, that the NSA does keep control files on the “leaders” of our country, the exact opposite of what he is stating. Just as Chomsky deigns that anybody who questions 9/11 is off their rocker. So the question is, is Black mistaken or a gatekeeper? The way to answer that is to challenge him with the evidence and see how he responds.

  24. davidnrobyn

    Several years ago when GSachs et al were coming under fire, I was wondering why JPM wasn’t. It occurred to me that JPM was the Fed’s and FedGov’s blue-eyed boy, that they were the designated operative in the markets for the Feds. It seemed to me even then, that when there was a meeting of the Fed and FedGov with the banks, there was GSachs and all the other banks on one side of the table, the Fed and FedGov on the other side, with JPM sitting between the two Feds staring at the other banks with an impudent smirk on his face. Just a feeling I got. Now, with all the onus on JPM, I’m wondering what has changed? How, and why, has JPM fallen out of favor with the PTB? Why are they being thrown under the bus?

    • Greg Hunter

      Interesting comment and analysis Davenrobyn. Thank you for adding it.
      Greg

  25. greatdogs

    DavidnRobin, Isn’t Jamie Dimon the guy who has been photographed wearing the presidential cuff links?

  26. Tinwhisler

    When your 401k in a Alpha Strategy C is 41.31% YTD there is something seriously wrong.
    When this balloon pops where does my wealth go?

    • Galaxy 500

      To the companies that your broker hypothocated your shares to. And that is not you or me

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