Last week, a lawsuit was filed against JPMorgan Chase by the Attorney General of the US Virgin Islands. The allegations in this document are shocking and I will be breaking it down in this video.
The economy is in rough shape right now, but to understand what is happening in financial markets today, we must understand Jeffrey Epstein and what happened in 2018. Jeffrey Epstein was the head of a sex trafficking criminal enterprise that catered to the most rich and powerful people in the world. One of the biggest questions around Jeffrey Epstein was how he avoided getting arrested for so long. He was untouchable. Why? How did he get away with it? Well, there was a lot of money involved. He was protected by some rich and powerful people. So, what changed? He was arrested on July 6, 2019 and then he died one month later. The official story is that Jeffrey Epstein committed suicide in prison, although there is a lot of doubt in that explanation from the public.
It is helpful to understand Jeffrey Epstein in the context of financial markets. Here is a chart of the S&P500 from the last five years. Let us go back to the end of 2018. This was the biggest stock market drop since the housing market crash in 2008. People were panicking. A number of factors led to this drop, but the most important was that Donald Trump was president and he had started a trade war with China. We all know now, that enormous amounts of the Chinese economy was a lie. It was based on real estate prices that were not justified. The growing Chinese economy was fake. So, when Donald Trump initiated trade tariffs on China, he was not only threatening to bring down the Chinese economy, but the entire global economy that depended on it. I call this the “China squeeze.” The US was putting pressure on China, and the cracks in their economy started to show. A lot of the social unrest we see in China today started back in 2018 when China’s economy started to collapse.
2018 was an incredibly scary moment in the market. The Fed quickly started lowering interest rates, and the market started to rebound. But Fed rates were already low, so there was not much more the Fed could do. If Trump kept battling China, a lot of people were going to lose a lot of money.
I do not think it is a coincidence that Jeffrey Epstein was arrested six months later. Rich and powerful people were under so much financial pressure, that they decided not to tolerate being blackmailed by Jeffrey Epstein anymore. Jeffrey Epstein was arrested on July 6, 2019 and was dead one month later.
Why does all this matter? Because we are still in the same recession from 2018. We are still living through the “China squeeze.” So much American money has been invested in China, but the growth that China has been claiming is not real. US investors are not going to get their money back. Whether it is through investing in American company stocks or pension funds that had international investments, they are all going to take a hit. The US stock market has been on life support since 2018, and has been propped up by stimulus during the pandemic. But we have never resolved the China issue.
Every recession has a social component. When financial times are tough, criminal activity gets exposed. The criminal who got exposed during this recession, was Jeffrey Epstein. The social wrongs need to be corrected in order for society to move forward and the recession to be over.
Jeffrey Epstein died in 2019. In June 2022, Ghislaine Maxwell was sentenced to 20 years in prison for sex trafficking. But not a single rich and powerful person has been arrested for performing the sex acts. It has come to light that Prince Andrew from the royal family was involved. Also involved was retail giant Leslie Wexner, who ran multiple clothing chains through his company, The Limited. Leslie was close friends with Jeffrey Epstein and was forced to step down from his company board. Leon Black, founder of Apollo Management Group also stepped down. Hedge Fund manager Glenn Dubin also stepped down. An email from Bill Gates has surfaced following his first meeting with Jeffrey Epstein in 2011 where Bill Gates said, “His lifestyle is very different and kind of intriguing.” A spokesperson for Bill Gates later clarified his statements explaining that the email “was referring only to the unique décor of the Epstein residence.” Bill Gates divorced from his wife. She has claimed Bill’s association with Jeffrey Epstein as one of the reasons. (For the record, all five men have said they did nothing wrong).
This brings us to the lawsuit against JPMorgan. This is an important piece of the puzzle, and people want answers. JP Morgan says they are not responsible at all, but that is not what the facts show.
When Bill Gates was introduced to Jeffrey Epstein in 2011, he was at a dinner party with economist Larry Summers and JPMorgan banker Jes Staley. Jes Staley led JPMorgan’s private bank that handled wealthy clients. This was a senior executive. US regulators uncovered 1,200 emails between Jeffrey Epstein and Jes Staley. This raises a simple question. Is there any time you have emailed your banker 1,200 times? I have not. Some of these emails seemed to contain strange code words like “Snow White.” I do not know what that means, but it seems something strange is going on. For the record, Jes Staley says he did nothing wrong.
Banks have a responsibility to report fraudulent transactions. Major crimes like sex trafficking, gun trafficking, and drug trafficking require large amounts of money. So, we have decided as a society to require that banks report any transaction greater than $10,000 to the FBI for review. If hundreds of thousands of dollars is leaving the bank for some unknown purpose, that is suspicious. That is something criminals would do, and it should have been reported. If you are going to commit a crime against people, our banking system should at least not help you do it.
Jeffrey Epstein had many suspicious transactions over the years. Why did JP Morgan not report it? JP Morgan knew about Jeffrey Epstein’s earlier conviction in 2009 for sex trafficking a minor. Jeffrey Epstein was using $200,000 a year in cash. Why would anybody need to withdraw $200,000 every year in cash? Jeffrey Epstein was sending large cash transfers to individuals with no explanation. Senior management at the bank clearly knew about Jeffrey Epstein, but did nothing to address the red flags.
The lawsuit against JP Morgan contains a list of specific “red flags” that JP Morgan should have reported but ignored. However, the legal complaint is redacted and so we do not know exactly what the evidence is.
The lawsuit against JP Morgan follows a similar lawsuit that was filed against Jeffrey Epstein’s other bank, Deutsche Bank. Two victims of Jeffrey Epstein sued Deutsche Bank alleging the bank facilitated the criminal enterprise. Deutsche Bank paid a $150M settlement. That lawsuit, gives us some preview of what types of activities to expect in the JP Morgan case. It was revealed that Jeffrey Epstein’s lawyer asked Deutsche Bank on two occasions how much money he could withdraw without alerting the FBI. That question alone is a red flag that should have been reported to the FBI. The Deutsche Bank case also showed numerous times when activity was flagged as problematic by lower level employees and then ignored when brought to senior management.
The Deutsche Bank case gained media attention when there was an attempt to murder the judge in the case, Esther Salas, four days after she was assigned. A gunman showed up at her house disguised as a FedEx driver. Esther’s son opened the door, and the gunman shot the son through the heart and critically wounded her husband. The gunman fled the scene, and Esther Salas came up from the basement in her house and watched her son die in her arms.
The gunman was an attorney named Roy Den Hollander. Roy had an interesting legal career. He has an MBA from an Ivy League university and spent a period living in Moscow, Russia for some reason. It was discovered that he also killed an attorney in California named Marc Angelucci. That murder occurred only eight days before the attack on Esther Salas’ family, using the same method by posing as a FedEx driver. So, he killed the attorney in California, flew across country and killed Esther’s son. There was no motive discovered, other than it was believed he was frustrated with Judge Salas for slowing down one of this cases during litigation. It was generally accepted by the police that Roy was crazy. Roy was later found dead with a gunshot wound to the head. His death was declared a suicide, just like Jeffrey Epstein. The official narrative is that there was no connection between the attempted murder of Judge Salas, and the case against Deutsche Bank. It is just another horrible coincidence in a series of cases full of coincidences.
This new lawsuit against JP Morgan was filed by Denise George, the Attorney General of the US Virgin Islands. This comes after she won a huge $105M legal settlement from Jeffrey Epstein’s estate. This was the largest settlement in the history of the islands and has made her a political star in her community. Denise George probably has uncovered a lot of evidence that she planned to use on this new case against JP Morgan. The legal complaint is shocking. The lawsuit alleges “JP Morgan knowingly and intentionally participated in Epstein’s sex-trafficking venture…”
Days after filing the complaint, Denise George was fired from her job by the Governor of the US Virgin Islands, Albert Bryan. After the public outcry that she was fired because of the lawsuit, the Governor pushed back. His communications director issued a statement saying, “”I am not at liberty to discuss details on personnel matters. I can only confirm that media reports indicating the JP Morgan lawsuit as the reason are not entirely accurate.” I don’t know about you, but that sounds pretty sinister to me.
I hope the case continues to move forward and we can have justice for JP Morgan’s part in Jeffrey Epstein’s criminal activities.
SOURCES
Newsweek: Judge Salas Home Shooting
https://www.newsweek.com/judge-esther-salas-shooting-deutsche-bank-epstein-1518974
CBS News: Judge Salas Home Shooting
https://www.cbsnews.com/news/esther-salas-son-murder-roy-den-hollander-48-hours/
Deutsche Bank settlement
https://www.scribd.com/document/468314825/Deutsche-Bank-Epstein
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