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Jamie Dimon: “That’s why I’m richer than you”

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by Jeff Nielson, Bullion Bulls Canada:

It’s so typical of our pathetic propaganda machine that even when presented with some “juicy quote” that it will parrot the quote — to attract readers/viewers…but then not explain what it actually means.

The context: a banking analyst is conducting a phone-interview with JPMorgan CEO Jamie Dimon. During the interview, the analyst mentions the high “capital ratio” at UBS (higher than that of JPMorgan). This is the ratio of “cash-on-hand to investments”; or in the REAL world of these Big Banks (i.e. casino operators) it’s the ratio of cash-on-hand versus their bets.

So when the analyst and Jamie Dimon acknowledge that UBS has a “higher capital ratio” than JPMorgan (i.e. a lower ratio of gambling); Dimon’s response is “that’s why I am richer than you.” Because in an INDUSTRY of reckless gamblers; he is one of the most-reckless.

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