War By Other Means: Short Selling JPMorgan Chase
War By Other Means: Short Selling JPMorgan Chase
By Ellen Brown – Scheerpost, August 8, 2023
[Matthias Chang’s comments: The two PDF articles posted to my website may not be for you, but I hope you will have the discipline and resilience to read and study the far reaching implications for the banking industry in general and the global financial crisis in particular. More suitable for Malaysian Bankers (still clueless), and they better wake up! Ellen Brown is a very dear and trusted friend, whom I had invited to Malaysia some years back to advice Tun Mahathir Mohamad. She is an attorney and also the author of the bestseller “Web Of Debt” and 13 other books. She is unique in many ways, one of which is her in-depth understanding of global finance and banking. I have very few female friends with such intellectual honesty and discipline (none in Malaysia, unfortunately) that commands a global following. Long may she continue. I am blessed to have known and to learn from her immense knowledge.]
Ellen’s article begins below:
When the FDIC put Silicon Valley Bank (SVB) and Signature Bank into receivership in March, a study reported on the Social Science Research Network found that nearly 200 midsized U.S. banks were similarly vulnerable to bank runs. First Republic Bank went into receivership in May, but the feared contagion of runs did not otherwise occur. Why not? As was said of Lehman Brothers 15 years earlier, the targeted banks did not fall; they were pushed, or so it seems. One blogger shows how even JPMorgan Chase, the country’s largest bank, could be pushed — not perhaps by local short-sellers, but by China. And that is another good reason not to provoke the Chinese Dragon into “war by other means.”
The Targeted Crypto Banks
SVB, Signature and First Republic were not insolvent: they had sufficient assets (largely long-term Treasuries) to match their liabilities. They were just “illiquid;” they lacked enough readily available funds to meet the unanticipated deluge of deposit withdrawals in March. In fact, no bank could withstand a bank run in which 85% of its depositors demanded their money back in the space of three days, as happened to SVB that month…….
Read the first PDF below to continue reading the Article by Ellen Brown in two parts:
Read the second PDF for a backgrounder on Operation Choke Point below:
