Silver stockpile of the largest US bank and major provider of financial services JPMorgan Chase has increased drastically for the last three years. In 2012 the amount of physical silver was at 5 milion ounces, while for the current year it increased more than tenfold and accounts for 55 million.
Silver has always been regarded as a great investment tool. But the fact that it is estimated at that low as $15.66 an ounce implies that it is accumulated for the possible financial turmoil. Only in this case the stockpile can be paid off.
It can be seen in the letter of JPMorgan Chase chairman and CEO Jamie Dimon in his letter to shareholders. As he stated, "Some things never change - there will be another crisis, and its impact will be felt by the financial market.
The trigger to the next crisis will not be the same as the trigger to the last one - but there will be another crisis. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997),so-called "bubbles" (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc. While the past crises had different roots (you could spend a lot of time arguing the degree to which geopolitical, economic or purely financial factors caused each crisis), they generally had a strong effect across the financial markets."
The preference to silver instead of gold can be directly explained with the current low price it has.
For the last two weeks, JP Morgan Chase has accumulated more than eight million ounces of physical silver.
In addition to this, JP Morgan Chase restricted the use of cash for selected markets and went so far as restricted its clients from using cash for credit cards payments, mortgages, equity lines and auto loans. There will also be no ability to store the cash in its safe deposit boxes.
The case tips at the anticipation of a new great economic crisis.
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Biden built a near-half century political career on a foundation of Big Lies and mass deception. They'll surely continue as long as he remains in office.