JPMorgan Chase, the largest U.S. bank, one the largest providers of financial services in the world and one of the most powerful banks in the world has accumulated one of the largest stockpiles of silver the world has ever seen.
The level of fraud in the financial system with utter lack of prosecution or accountability, combined with the ongoing love affair between the largest offenders and collective mainstream, results in financial media being a victim of the so-called Stockholm syndrome.
If global banks’ are realistically going to improve their balance sheet diversification and liquidity profiles, gold will have to be part of that process. It is ludicrous to expect banking to regain a sure footing through the increased ownership of government securities.
The lame duck may well throw a life preserver to the black swan to keep it afloat temporarily. However, the golden eagle and the silver loony are hovering overhead. Gold and silver are making cup and handle patterns which is historically indicative of major breakouts.
In a tiny market such as silver, where a few big players typically dominate and manipulate global price discovery, being invisible may be the real and only power held by those who would one day choose to buy or continue to accumulate precious metals.
The purest form of a debt free asset is gold. Gold is true money, the only form of money that isn’t someone else’s liability. While central banks might be able to lower the gold price by dumping their own reserves, central banks cannot print more gold.
We note the contrast between the reporting companies who by law cannot lie about their fiscal realities, versus central planners who admit that they must lie to preserve calm and control. We'll leave it to you to decide whose version of the truth you want to believe.
The Fed has pumped trillions into the worldwide financial system as part of misguided stimulus efforts that should be incredibly inflationary. Yet, instead of a disastrous repeat of the Weimar Republic, the US dollar has strengthened considerably.