The Atlantis Report shares news of the reason why JPMorgan’s CEO is selling Chase Bank stock.
Steven Van Metre says institutions are being forced into mass liquidation as a global fire sale begins.
David Nelson, the Host of The Money Runner podcast and Chief Strategist at Belpointe Asset Management joins Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News to discuss the biggest mistake investors make.
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Palisades Gold Radio
Feb 28, 2024
Tom welcomes back Paul from the Sirius Report to update you on the continued geopolitical shift from a unipolar world to a multipolar world. Paul highlights the failure of the traditional unipolarity model for economic reasons, particularly since the financial crisis of 2008. The global South wants to assert its autonomy and make its own decisions, which has led to a push for de-dollarization and the development of alternative payment mechanisms. The U-----e war and the imposition of sanctions on Russia have shown that it is possible to function outside the SWIFT system and conduct transactions in local currencies. The global South also points out that it has a real economy based on manufacturing and production, unlike the West, which is heavily dependent on financialization. The economies of the BRICS countries, in total, are now higher than the G7 economies, further highlighting the shift towards multipolarity.
In terms of resources and energy, the conflict in U-----e highlighted their importance in the world. Russia’s resilience in the face of sanctions showed the rest of the world that they could operate outside the dominant Western paradigm. Energy is the lifeblood of nations, and countries like Russia and Iran have vast resources that are essential for the world’s energy needs. The global South, with its access to resources and lack of financialization, is in a better position for long-term growth compared to the debt-ridden West. Collaboration and win-win partnerships will be essential for a multipolar world to thrive.
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Paul also discusses the looming commercial real estate bubble and its slow-burning effect on the economy. The pandemic has led to a decline in demand for commercial real estate, and although the too big to fail banks may not be directly affected, their investments in the shadow banking sector make them vulnerable. The Western financial system faces multiple challenges, such as debt levels, deindustrialization, and the instability of the US dollar. Attempting to preserve financialization and the dollar while the real economy suffers is not a sustainable solution.
Paul highlights the interconnection between the financial system and the real economy, emphasizing the importance of resources and energy for a sustainable system. He warns against the fudging of financial and economic data, stating that printing money can have inflationary consequences and lead to the implosion of the economy, as seen in Weimar Germany. In contrast, Eastern nations like China are buying gold to preserve wealth and insulate themselves from the US dollar and US Treasuries. China, along with other Eastern countries, focuses on building a real economy and backing their currencies with tangible assets.
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The Atlantis Report
Feb 28, 2024
JPMorgan Chase is the largest and most profitable bank in the US, with a market capitalization of over $500 billion and a net income of nearly $50 billion in 2023. The bank is led by Jamie Dimon, one of Wall Street’s most respected and influential CEOs, who has been at the helm since 2005.
However, in October 2023, Dimon surprised the market by announcing his plan to sell 1 million shares of JPMorgan stock, worth about $140 million, starting in 2024. This would be the first time that Dimon would sell any of his JPMorgan shares since he became the CEO, and it would reduce his stake in the bank by about 10%. The news sparked speculation and concern that Dimon might be preparing for retirement or that he might have a negative outlook on the bank’s future prospects.
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Steven Van Metre
Feb 28, 2024
Global Fire Sale Begins as Institutions Forced into Mass Liquidation
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Kitco NEWS
Feb 28, 2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews David Nelson, the Host of The Money Runner podcast and Chief Strategist at Belpointe Asset Management. Nelson weighs on whether the AI hype is justified and how long it can carry the market. Nelson explains Nvidia’s fundamentals and outlines the three biggest market risks. He points out the most costly mistake investors tend to make and gives precise stock picks. Nelson also shares his outlook on gold, Bitcoin, geopolitics, and the U.S. e------n.
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