Unbelievable! In a clear case of market manipulation, Two days after JP Morgan CEO said that Bitcoin is a “fraud” and that he would fire any employee for trading Bitcoin, JP Morgan was discovered to be the 4th largest buyer of a Sweden-based ETF called Bitcoin Tracker One.

When is this guy not lying?

Meanwhile, the Chinese government has moved to outlaw Bitcoin exchanges. China hasn’t outlawed Bitcoin, itself and they’re announcing the implementation of blockchain technology in everything one could imagine, including their own currency.

Pass the popcorn!

Contributed by


You Might Like

Alexandra Bruce

View all posts


  • damn, being right in the nick-o-time. I had not seen this before posting the following on your post regarding Dimon’s snark. I traded the markets for two and a half decades in my own account. I saw many odd, short in duration anomalies in minute by minute real time trades which cost me dearly but gave me the following lessons:

    Joe Doaks
    September 17, 2017 at 10:20 am

    All you state is without doubt…do ya think that Dimon got multiple back slaps for his comment? I do, and he probably gave himself a bonus too. He and his fellow miscreant manipulators were no doubt short BEFORE his comment…preceded with a chuckle and ‘watch this’.

    I’ve not viewed your recommended link yet, but in technical jargon, like the metals some years back, there was a yuge (sic) bubble of enthusiasm/mania, and like the CDO bubble of ’08, bubbles are over sold conditions and corrections happen brutally fast. Speculation vs to hold strategies are the basic competition, and various exchanges are allowing margin speculation of 50%…dangerous ground meant to teach the greedy what greed entails. Old timer market trader adages go, ‘bull markets climb a wall of worry and bear markets slide the slippery slope of hope’.

    Depending on long or short positions, margin calls happen and the person on the wrong end must immediately cough up their deficit. That last drop from around 5000 to the 3000 usd area took a TON of money out of somebody’s accounts…those who bought high in their enthusiasm, or ‘thundering herd mania’ as insiders might say, learned about the difference in psychology between investment and speculation, worry became hope real fast…double edged sword.
    TIPTOE THROUGH THE TULIPS…with both eyes open.

    These criminals must be reigned in!! That play became obvious when Bitcoin made it’s first break through 2000 usd. This may sound unrelated, but the same ‘gaming’ (game theory is the Bible of ‘free market’ spinners) happened with Enron, precious metals, oil, the dotcom boom/bust…if you are an insider, you attained great wealth, and if you aren’t you helped line ‘their’ pockets…psychological bait n switch.

    • Bitcoin is so volatile, it’s hard to call anything it does a “bubble” or a “crash”, because within 24 hours, it will be different.

      With JP Morgan buying Bitcoin derivatives and the SEC officially calling Bitcoin and “investment”, it’s still a good play for the obsessed aficcionado who follows every hiccup.

  • What can I say, Jamie Dimon had better fire him self. LOL, market manipulation by an agent of the US government. Is that not still a federal crime? Banksters and politicians are so many piles of shit. Now don’t get me wrong, I still use them as much as anyone else, however, we all know the tree is rotten at the base and it’s going to fall, sometime.

    • I have traded full-time since 1999.

      I agree — and I agree with the comments of Joe Doaks and others. Markets are rigged.

      The High Frequency Trading (HFT) computers are absolutely dominant, meaning that easily over 50% and by my observation as much as 80-90% of all trading is now HFT-generated. The public is not allowed to know this fact since they would remove their cash from the rigged casino. Who own the majority of HFTs? Banksters.

      Regulators will NOT regulate because they get a big, fat multi-million payday after they “retire” from government work. Those who are officers of the Exchanges are given ownership interests in HFT firms so they get a big “legal” bonus check the end of every year. Politicians, who are charged with oversight, will not perform their legal duties either because they get bribes, oops, errr, um, “campaign contributions.” If I could redefine such words, it wouldn’t be bank robbery but an incompetely voluntary withdrawal.


Most Viewed Posts