Meltdown coming?5 Apr 2023 18:33
Hi All. The big 4 US banks JPM, GS, BofA and Citybank hold in excess of $170trillion (yes trillion) of derivative bets on their books. It only takes one to fail and all fail. The big banks hold nearly $400billion in derivatives in the PMs market with JPM holding over $200billion. The USA gov (FED) pays JPM to control the POG (legally) when, not if, this backfires due to massive physical gold purchases the whole pyramid comes crashing down taking the rest of the derivative market with it. How much physical gold do you own? ATB Speedy