I looked with interest until saw it came from a gold bug website. I know the sky is falling or so says Schiff. If you have something more objective, ie. Bloomberg I am all ear and eyes.
"Hello Ben? Hi, this is Jamie, Jamie Dimon, ya, I've got a big problem, just a second, WE have a big problem......"
It's more impressive to say that you're "long" 70-trillion AND "short" 70-trillion instead of saying that you're "flat".
In short it means nothing. The author has no idea. Its all wash, and how this keeps coming up every few months is beyond me. JPM is not LTCM.
Yeah, but maturity mismatch, in such a portfolio, can be amazingly destructive. And some very strange things happen in markets when supply of the physical starts drying up.