Today one of the top money managers in the world warned JP Morgan’s gold derivative short position may be larger than all the bank’s assets. He then pondered the ramifications for JP Morgan if the price of gold shoots up $1,000. Take a trip down the rabbit hole of what Leeb called the “open secret” in the gold market.
March 25 (King World News) – Dr. Stephen Leeb: “What I lose sleep over is how much exposure does a bank like JP Morgan have to the [gold] derivative market. This is not fraudulent but it’s an open secret. In fact [laughter] it’s no longer a secret because they’ve been penalized so much for it. They’re trying to control the price of gold. I mean when you sort through all of these derivatives, what’s JP Morgan’s short position [in gold]? I can imagine it being much more than the assets in the company. And if gold takes off and it gets out of control then it’s ‘Katy, bar the door.’ You don’t know what is going to happen. So that’s the real threat in my opinion. I doubt that JP Morgan even knows how much of a threat it is but they’ll find out if all the sudden you see the price of gold shoot up $1,000. But this is a vicious circle because when gold gets set to move, and it’s creeping up toward all-time highs all the sudden…to continue listening to Dr. Stephen Leeb discuss JP Morgan’s precarious short position in the gold market and much more CLICK HERE OR ON THE IMAGE BELOW.
***To listen to Alasdair Macleod discuss available physical gold and silver inventories disappearing, why the bank runs and crisis are set to accelerate and much more CLICK HERE OR ON THE IMAGE BELOW.
© 2023 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.
