RE: Base, Silver& PGMs v Crypto or both?10 Jan 2021 17:16
Yes I can explain why JP Morgan did that.
The US and China seem to be working together in advance towards a global currency reset whereby the US, Europe and China will back the SDR’s with their gold reserves so the dollar can be replaced. This will be further compounded by the fiscal policy of the Biden administration.
We have now arrived at the point where it is not the banks, but the countries themselves that are getting in serious financial trouble. The idea that we can ‘grow our way back’ out of debt is naive. The current solution to ‘park’ debts on to the balance sheets of central banks is just an interim solution.
A global debt restructuring will be needed. This will include a new global reserve system to replace the current failing dollar system.