LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Will the Historic Imbalance in Gold Stocks to Gold Price Resolve?
By: Rambus

The Staggering Amount Of Gold & Silver Investment Since The 2008 Financial Crisis
By: SRSrocco

What If 'Everyone' Correctly Smells a Top Here?
By: Rick Ackerman, Rick's Picks

Precious Metals Update Video: Gold up as people ran into safe havens
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - March-22-2019
By: GoldSeek.com

Gold Mid-Tiers’ Q4’18 Fundamentals
By: Adam Hamilton, Zeal Research

Self-Destruction: Cheerleading the Process
By: Gary Christenson, Deviant Investor

The U.S. Economy Is In Big Trouble
By: Dave Kranzler

Gold Resource Corporation Mirador Mine Development Crosscuts 6 Meters of 992 Grams Per Tonne Silver
By: Gold Resource Corp.

Central Banks Are Messing With Your Head
By: Thorsten Polleit

 
Search

GoldSeek Web

 
Another Financial Elite Goes on Record About the Bubble


 -- Published: Wednesday, 9 August 2017 | Print  | Disqus 

By: Graham Summers

 

Last week former Fed Chairman Alan Greenspan warned that the bond market was a gigantic bubble waiting to burst.

 

This week, another financial elite, Jamie Dimon, CEO of JP Morgan, has said the same thing.

 

“I do think that bond prices are high,” the chief executive officer of JPMorgan Chase & Co. said Tuesday in an interview on CNBC. “I’m not going to call it a bubble, but I wouldn’t personally be buying 10-year sovereign debt anywhere around the world.”

 

Source: Bloomberg

 

This would be an ASTONISHING admission from ANY bank CEO. But coming from the CEO of JP Morgan, the single largest bank in the United States, it is truly incredible.

 

As current CEO, Dimon has to be cautious in his statements (hence why he refused to outright call bonds “a bubble”). But he is openly admitting that when it comes to his PERSONAL capital, he wouldn’t touch 10-year SOVEREIGN bonds anywhere in the world.

 

Why is this a big deal?

 

Because sovereign bonds are the BEDROCK of the entire global financial system. They are the “risk-free” rate against which all risk assets are priced.

 

So if sovereign bonds are in a bubble, every asset under the sun is in a bubble.

 

And worse still, when the bond bubble bursts, we’re talking about ENTIRE COUNTRIES (not banks) going bust.

 

Think what happened to Greece in 2010… for around the world.

 

On top of this, the bond bubble is bigger than anything the world has ever seen. The housing bubble was about $14 trillion in size. This bubble is north of $100 TRILLION.

 

 

You’ve been warned.

 

Graham Summers

Chief Market Strategist

Phoenix Capital Research


| Digg This Article
 -- Published: Wednesday, 9 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.