After last weeks charts showing over all market weakness, here's the final nail in the coffin. On March 26, 2018, the Chinese will commence trading oil with their oil/gold/yuan futures contracts. These contracts completely circumvent the US dollar. Bottom line, the US petro-dollar is dead! This will start a massive naked shorting of the US dollar around the world. This will lead to a dollar collapse and its related markets. US bond markets and US Treasuries will get hammered, i.e. dumped. This March 26th event will bring the fiat system to its knees. And, this will cause the derivatives to implode, wiping out Deutsche Bank in the center of the storm, along with the banks linked to Deutsche Bank. As we have stated over and over, most analysts are missing the BIG point, we are seeing the systemic collapse of the fiat currency system. This "de-dollarization" will cause huge flows of money into anything NOT related to US dollars, most of those moves will be running into crypt...
You simply must read ZEROHEDGE's article about JP MORGAN BUYING BITCOIN ETFs in Europe while Jamie Dimon tells Americans that BITCOIN is a fraud! The in-your-face LYING by the bankers is just insane! The BANKSTERS are terrified that you'll get RICH and leave them in the dust. THEY WANT CONTROL and they SEE they're losing it! That should tell you something loud and clear! Now, check this out...
ReplyDeletehttp://www.zerohedge.com/news/2017-09-16/if-jamie-dimon-hates-it-so-much-then-why-jpmorgan-buying-bitcoin-europe
Here's an excerpt from that article (in case ZeroHedge Removes it):
If Jamie Dimon Hates It So Much, Why Is JPMorgan Buying Bitcoin In Europe?
by Tyler Durden
Sep 16, 2017 11:00 PM
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Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO Jamie Dimon's panicked outburst with regard the 'fraud' that Bitcoin's 'tulip-like' bubble is. To paraphrase:
"It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get somebody killed. I’ll fire anyone who touches it."
Anecdotally, the post-Dimon collapse in crypto prices seems to confirm his view (though of course this is much more due to China concerns than a vested interest fearmonger), which makes us wonder... why is JPMorgan buying Bitcoin ETFs on European exchanges?
Nasdaq Stockholm has an actively traded Bitcoin ETN...
'Bitcoin Tracker One - SEK' is an open-end Exchange Traded Note incorporated in Sweden. The ETN is denominated in SEK and provides investors with access to the returns of the underlying asset, US Dollar per bitcoin, less investor fees. The average USD exchange rate of bitcoin from the exchanges:- Bitfinex, Bitstamp and GDAX provides the underlying reference price which is converted into SEK.
In the last few days - as the underlying price collapsed - the ETN has remained bid, with heavy inflows, and now trades at around 20% premium to Net Asset Value...
And guess who has been buying?
JPMorgan Securities was the 4th biggest buyer...
Which suggest two scenarios... Either
i) JPMorgan is buying for its own account at Dimon-manipulated-lower prices (remember Dimon said any trader who bought Bitcoin would be fored for being "stupid"), or
ii) JPMorgan is buying for clients, seemingly offering no sense of fiduciary care amid Dimon's warning to the world that the cryptocurrency is a fraud (is JPMorgan Securities knowingly allowing clients to buy securities it believes are a fraud?)
Which is it Jamie?
If Jamie Dimon Hates It So Much, Why Is JPMorgan Buying Bitcoin In Europe?
Inquiring minds want to know!