Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChartBuddy]

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[BitcoinBunny]

Always wondered what "JP" stood for in JP Morgan Chase.

In May 2023, Jamie Dimon is due to testify under oath in connection with two lawsuits filed against JPMorgan Chase. The plaintiffs accuse the bank of serving the late sex offender Jeffrey Epstein. This happened within five years (1998-2013) after his crimes became known; the bank itself described the claims as meritless

Now we know.

Jeffrey Pedophile

[xhomerx10]

FYI,
  GSP = Garden State Parkway. 

I was thinking the exact same thing!

 I love the way you guys were thinking "Canadian" first.

[ChartBuddy]

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[ChartBuddy]

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[bullrun2024bro]

~

Fixed your post. 

[philipma1957]

FRB drama unfolding.

*FIRST REPUBLIC UPDATE

Sources : First Republic auction underway…A deal is expected to be announced on tonight before Asian open, with the regulator likely to say that it had seized the lender…6 banks (were asked to?) bid…PNC cautiously seen as lead contender as 2 serious rival bidders (JPM, BofA) need US Treas to waive so-called deposit cap (both hold more than 10% of US deposits)


Note to self: quote this message when JPM buys PNC

Hail to JPM!
JPMorgan today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the FDIC

Yeah Fed crushes yet another bank.

Looks like recession/crash is only a few months away.  

Pivot will come after my  anniversary in August.  So we get BTC rally in sept?

[ChartBuddy]

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[ChartBuddy]

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[Unknown Op]

[ChartBuddy]

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[vapourminer]

Hail to JPM!
JPMorgan today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the FDIC

Yeah Fed crushes yet another bank.

Looks like recession/crash is only a few months away. 

Pivot will come after my  anniversary in August.  So we get BTC rally in sept?

your anniversary in AUGUST?

dude we are in a hurry here. do you happen to have, like, um, say a cough side squeeze cough with a sooner anniversary??

just askin

[philipma1957]

Hail to JPM!
JPMorgan today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the FDIC

Yeah Fed crushes yet another bank.

Looks like recession/crash is only a few months away. 

Pivot will come after my  anniversary in August.  So we get BTC rally in sept?

your anniversary in AUGUST?

dude we are in a hurry here. do you happen to have, like, um, say a cough side squeeze cough with a sooner anniversary??

just askin

gives you time to dip buy.

[ChartBuddy]

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[coolcoinz]

So one of the biggest trolls out there Jamie Dimon, who apparently is paid 35 million a year just to act like a buffoon on the Internet and spew lies about bitcoin is buying the dead bank.

The official reason for the purchase was to protect the industry and restore trust. How is the purchase of a bankrupt bank going to restore trust in the system? They are covering a dead guy with a blanket and saying it's all right, we'll take care of it, he's not dead, he's taking a nap!

Interesting piece by Reuters:
"I don’t believe this is similar to 2008 since that was a much more macro-leveraged situation around credit. I would note there have been 562 bank failures since 2001 or an average of 26 per year."
https://www.reuters.com/business/finance/jpmorgan-buys-first-republic-banks-assets-2023-05-01/

Don't worry folks, it's not that bad because we're losing 26 banks a year. Does it mean that if we lose JP Morgan it's not going to be a crisis as long as we stay below the yearly average?
So, who's next?

[Biodom]

hmmm...PACW is down 9%, PNC is down 6%, a whole bunch is down 2-4%.
PACW is relatively tiny with deposits at 41b, but PNC has/had 436 bil as per last earnings 16 days ago, don't know right now.
I dunno what to make of all?
Cramer and J. Dimon say that it is OK now.

The official reason for the purchase was to protect the industry and restore trust. How is the purchase of a bankrupt bank going to restore trust in the system? They are covering a dead guy with a blanket and saying it's all right, we'll take care of it, he's not dead, he's taking a nap!

my read is that he is buying stuff with a huge discount and by doing so helping his own balance sheet; no wonder that PNC, which did not get the "goods", is declining 6% today.

I am not sure how it all relates to bitcoin.
I listened to a long P. mcCormick/Jeff Booth podcast ( https://www.whatbitcoindid.com/podcast/why-deflation-is-the-key-to-abundance ) and they were saying that even in nations with 100% yearly inflation, most of the populace still stays in the system and only a small % choose bitcoin.

Blame it on inertia, on being uninformed, etc., but it is a sad truth for now.

[ChartBuddy]

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