morgan's copper e.t.f. j.p. morgan of course is purported to be the manipulator of silver obviously not confirmed they haven't been convicted or anything as so many believe because of their enormous short positions but masters has defended should we be concerned about the impact of a j.p. morgan copper e.t.f. on bad market oh absolutely. potentially. a stranglehold in the commodities world the j.p. morgan the big agent of the united states government will have a big agent of the u.s. government sure their primary dealer and u.s. government securities they have private communications with the treasury and the fed every day that we're not privy to that they are an agent of the united states government jamie dimon said that he did the fed a favor waive his bank acquire bear stearns back in this crisis so there's lots of their favorite going around that's for sure we'll see what he has to say when silver is on its way to one hundred dollars an ounce and they're all choking ok we'll see maybe you'll do your end zone

morgan because i've seen reports that over the last few years j.p. morgan is anywhere between the top or the number three underwriter of municipal bonds so j.p. morgan shook it off ran the bankers off to did the deals and said that there were not there instances where this happened you know there's been other instances where j.p. haven't is you know illegal things in the municipal market but they are a dominant dominant player in. the rating so they continue to bat be strong in this area just spite the egregious acts one of the things that seems to be recurring theme quickly before we go to break is that a lot of these deals are negotiated privately and do some closure requirements are not great so is this a situation that benefits banks and does or does not benefit taxpayers. negotiated deals you never know whether the issuer is getting the proper pricing when they should get the disclosure side usually you know somewhere within a week or two of when the deals it's really hard you're catching up always you don't really know and the other thing to be

morgan to do it or not so it wasn't j.p. morgan participating with with the fed why did everybody last laugh when we asked that question well you know i think look i think he deserves credit for that point by all published accounts who are not involved in that but the new york fed has

did should we be concerned about the impact of j.p. morgan. the. government will have big. communications with the treasury probably go jamie diamond said that he did the fed a favor wait yes to. we will see maybe you'll do your end zone dance maybe go through that. covered the newtown tragedy the shooting at the elementary school which is horrible and in the wake of it we have seen a number of discussions about gun control gun laws if they should change what should change to avoid something like this happening again and also respecting the constitutional rights of americans have to bear arms here or a smattering of headlines but. business angle because we're seeing reaction from wall street to wal-mart so demitri kerber. know its purpose capital it's a private equity firm anyway they announced it in freedom group which owns shares in bushmaster which is the maker of the rifle that was reportedly used in the shooting the company released a statement saying our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen teachers pol

morgan to do it or not so it wasn't j.p. morgan participating with with the fed why did everybody last laugh when we asked that question well you know i think look i think he deserves credit for that point by all published accounts who are not involved in that but the new york fed has never disputed that he was asked to come in and buy buy bear stearns with government assistance the new york fed offered up so i think it is kind of hard to hold them to account for this. and i wish on that bear stearns lawsuit i mean on the other hand they are a big financial situation they have a lot of very well paid lawyers they could have protected themselves from these types of liabilities and the deal documents that maybe was too rushed i don't know but they apparently didn't do that i do wish that there would be more actions braced against the brought against the individuals those opposed the institutions to get into this this kind of situation six specially problematic since j.p. morgan chase bought the problem they didn't initiate the

so these federal housing finance authority are claiming that j.p. morgan chase citibank bank of america all these banks lied to them so there is now there is a law that goes back to eight hundred sixty three that is used to trap mere mortals so they could use this against time banker they know they own the president are saying and they need to put people in the prisons because they own a prison in the presence of publicly traded and their bonuses are based on options tied to the price of the prisons that are trade on the exchange that need to be filled up so they jump up these charges about these innocent people in jail while the perpetrators go frank so estimates of the potential cost of these mortgage put backs in these crimes are three hundred billion dollars there's a trillion though in in bad toxic assets that were so. sold to including f.h.a. and senate fannie mae and freddie mac. so that's a huge thing we're going to keep track of that over into the next new year but i want to talk about to fail not to bail that's what i've come up with not s

morgan and company, and it remained j.p. morgan and company until recently, when j.p. morgan and company moved to 60 wall street. and i'm not sure exactly what's gonna happen to that building. it's still there, and it was known as the corner. you didn't even have to know the address. it was just called the corner. that was the morgan bank. c-span: what is morganization? >> guest: the main thing that morgan was doing from about the 1850s to the 1890s was both raise money for railroads and then watch over that money for his clients. there was not enough capital in america in the middle of the 19th century to build enormously expensive railroads. it had to come from europe. and european investors who had been burned by reckless buccaneers in the 1830s and '40s weren't about to send more money 3,000 miles across the atlantic without some guarantee that it would be safe. morgan in new york, working with his father in london, provided that guarantee. and that meant essentially finding sound properties, which meant having good information about what were good railroads. and t

should be buying silver to crash j.p. morgan buy gold and silver to crash the banks or because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold horn kill the banks turns off yeah and finally you know on this one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there is no social security system but here we have a false illusion that the government is somehow going to take care of us even though all the evidence is there that they only take care of these banks of the u.b.s. guys who are defrauding you of your pension it's clear we see it happening in india right now take position a physical gold crash the bank stores everyone else buy silver and gold crash the bank stores because the banks have now position

morgan and u.s. governments over manipulation of the treasuries etc i guess you know watch other shows on our t.'s network i would suggest you do you'll learn an ocean full of financial info from the brilliant max kaiser now of course i agree with you you can learn an ocean full of financial info from max kaiser we respect his program so much another option though in terms of learning about the treasury's exchange stabilization fund so that i don't look so confused is perhaps watching this show on say august seventh two thousand. the legal basis of the e.s.f. is the gold reserve act of one nine hundred thirty four which you just talked about chris paul as amended in the late seventy's the act provides in part that the department of the treasury has a stabilization fund consistent with the obligations of the government in the international monetary system to fund an orderly exchange of arrangements in an orderly system of exchange rates the secretary with the approval of the president may deal in gold