Check Out $JPM’s Other Derivatives Losses

In 2002 i did some homework and learned that most too big to fail banks are playing with 15 -20 derivatives at any one time. At that time, i was interested in the artificial suppression of gold prices. I told clients to get long gold and short the banks. They laughed, and of course i was way too early. I also learned that if one of those derivatives went completely against the bank, (at that time JPM, ) there was a strong chance the bank could become the next LTCM.

At any rate, here is some insight into derivatives and other losses JPM has had recently.

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