​Why I Joined the Evil Empire of JPM – vs. Silver & Bitcoin | Bix Weir

Why in the world did Bix Weir, founder of RoadToROota.com and an outspoken critic of all central banks and especially JPMorgan, sign on today for a financial relationship with arch enemy JPMorgan? Why are we all doomed to be tied to sure-to-fail banks, and why pick the biggest and baddest of them all? Weir lays out the gory details of JP Morgan’s balance sheet and derivatives book, including the one secret asset that outweighs all the others. Bix goes on to examine whether silver & gold have nearly unlimited downside & upside, or where physical market forces take over. Finally, Weir contrasts the strengths of BitCoin in the face of all alternatives, and comes to some conclusions that may surprise physical precious metal enthusiasts!

Joining the Evil Bankster Empire
* Why do I need a checking account?
* Why the most corrupt bank in the history of the banking system?
* $620B in cash & liquid assets
* $2.5T long term assets
* $2.1T liabilities
* $48T derivatives book, counter-party risk
* 600M oz physical silver held in vault
* if price $83,333/oz for silver, JPM get out of jail for free card!
* JPM took over monsters short position from Bear Sterns
* Blythe Masters promoted credit default swap: the Queen of derivatives took over derivatives on commodity markets, 
* JPM operating at the behest of the US Treasury, able to 
* COMEX 100B oz silver traded/year, more than ever mined in the history of the world
* LBMA 130B oz/yr
* There’s only 800-900M oz of silver mined/yr in the world!
* Supposedly financial “hedging”, sanctioned by US Government

Unlimited downside & upside to silver pricing?
The only markets in silver are derivative markets
COMEX almost 100% derivative, slight physical segment can be settled in fiat cash by COMEX rules.
The world: there is no way to buy or sell silver on a real physical market.
If banks fail, there will be no COMEX, no LBMA, since all banks are intertwined derivatives.
Doesn’t take rigging to make the price go up.

Bitcoin & Silver: What’s Going On?
Problem with Bitcoin lie in the exchanges.
China has cleaned up the exchanges, realistic trading volumes.
Only exchanges still trading BitCoin within the exchange itself and off the blockchain are in Japan (like Mt Gox)
Cliff High: BitCoin is “Anti Fragile”
Silver & Gold will also be reintroduced when the US is ready.
Bitcoin can be a physical paper wallet: exclusive claim to unique bitcoin.
True limited supply, unlike 

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