JPMorgan to exit physical commodites business

[vacuum]

http://www.reuters.com/article/2013/07/27/us-jpmorgan-commoditybusiness-idUSBRE96P10M20130727

They blame the costs of regulatory compliance in different jurisdictions as not covering the slim profit margins of physical commodities. Other banks, Barclays and Deutsche Bank, are doing the same thing.

They're going to spin off those business units into separate entities or to partners.

I'm not sure if this applies to physical gold and silver.



My guess is that they are trying to get rid of massive liabilities, so when the house of cards crumbles it won't take them down. Didn't post the article because it was unnecessarily long and wordy.

[Twisted Titan]

They're going to spin off those business units into separate entities or to partners.


So when they go belly up......... the smaller entities will get obliterated in litigation but the parent company JPM can walk away spotless.

The end game just got a hell of alot closer.

[Mouse]

Everybody is going tits up when people demand delivery on ALL PHYSICAL COMMODITIES ALL AT ONCE. That's why. They just play in the derivative world. When all the equations say integrate, the derivatives will take everyone home for supper.

[Serpo]

Relates for sure to the story on running aluminum around a store shed making heaps which costs everyone down the line ,other ,metals as well

I suppose they could throw the comex in at no cost

gold and silver are classified as currencies and not commodities so I doubt if it includes pms