Is Jamie Dimon the John Law of the 21st Century?

John Law devised a paper money scheme to defraud the French of their gold and debauch their currency by offering shares in “The Mississippi Company.” His exploits lead to a massive bubble, monetary inflation, destruction of the French economy, and eventually to civil unrest.  In fact, many historians trace the leitmotifs of the French Revolution back to the financial depression caused by Law’s scheme.

Jamie Dimon is now taking cash from the Fed’s money printing orgy to cover JPM’s  losses in real estate and derivative. It’s the same old game: using paper to leverage the real thing to the point of collapse. Thanks for being there for us “Jamie John Law Dimon.”


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