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RE: JP Morgan CEO Admits He Was Wrong About Bitcoin
I hope this dudes bank goes belly up realllllll soon. Its ass hats like this running our world right now no thank you
I hope this dudes bank goes belly up realllllll soon. Its ass hats like this running our world right now no thank you
I empathize with that sentiment, but one of the defining perks of the banking profession is the absence of 'skin in the game.'
Mr. Dimon stands to derive immense personal benefit from the millions JP Morgan Chase siphons off its clients, yet he is sheltered from any of the downside associated with the ethically reprehensible (and in most cases) frankly illegal business practices that fine institution engages in on a daily basis.
It is the average Joe that has the most to lose when one of these big banks implodes. It is the people living paycheck to paycheck who will find themselves destitute when the music finally stops, not the technocrats at the top who see the writing on the wall, and who have hedged accordingly.
Were JP Morgan to fall, it would take down with it the rest of the international banking system.
One would argue this is the purge our system really needs: a crescendo of derivative products and degenerate money printing, culminating in the transfer of wealth and productive assets to people who believe in sound money, namely Bitcoin and precious metals.
I just hope that when that day comes we don't get bundled with the crooks that got us into this mess in the first place. Sometimes you get punished for making prudent decisions. Guilt by association, as it will.
Hope he gets arrested, or lose all his money then he knows what disruption is. Demon indeed.