You are here
Pam and Russ Martens: Two charts explain why Wall Street bank stocks are selling off
By Pam and Russ Martens
Wall Street on Parade
Friday, March 6, 2020
Yesterday the Dow Jones Industrial Average of 30 large cap companies closed with a loss of 969.5 points or 3.58 percent. That was bad enough but the losses among the biggest Wall Street banks outpaced the Dow losses by a significant margin.
Typically, JPMorgan Chase is one of the better performers among the Wall Street banks in the midst of a big selloff. But not yesterday. It closed with a loss of 4.91 percent -- a loss larger than Goldman Sachs (-4.77 percent), which has a large criminal fine hanging over its head. The news that Jamie Dimon, Chairman and CEO of JPMorgan Chase, had heart surgery on Thursday was not reported until after the stock market had closed.
... Dispatch continues below ...
Storage and Withdrawal of Gold with Bullion Star in Singapore
Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.
For more information, please visit Bullion Star here:
The losses among the other mega banks on Wall Street yesterday were equally unsettling. Morgan Stanley lost 5.86 percent, Citigroup closed down 5.79 percent, while Bank of America shed 5.07 percent.
All these banks have one thing in common: They each are exposed to tens of trillions of dollars in derivatives. And according to a 2016 report from the International Monetary Fund, the German mega bank, Deutsche Bank, is heavily interconnected via derivatives to each of these Wall Street banks. Deutsche Bank’s stock lost 5.49 percent yesterday, bringing its losses to 30 percent in just the past 15 trading sessions.
That's common equity capital that Deutsche Bank can’t afford to lose. Its shares have lost 75 percent of their common equity value in the past five years. The IMF concluded that Deutsche Bank posed a greater threat to global financial stability than any other bank as a result of these interconnections -- and that was when its market capitalization was tens of billions of dollars larger than it is today. ...
... For the remainder of the report:
https://wallstreetonparade.com/2020/03/two-charts-explain-why-wall-stree...
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651...
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
