QUESTION: Marty, you have been silent on the rumors that the Fed is bailing out JP Morgan who they claim was short silver. If there is anyone who has been behind the curtain and confronted the banks, that is you. Would you please comment on this topic.

EL

ANSWER: JP Morgan is on our site. It is due for new highs in 2026. We do have a Panic Cycle in 2027. The real crisis appears to be 2027 into 2028. I am aware that everyone seems to be freaking out about the injections into the REPO market. The global recession will spread starting here in 2026 but accelerate in 2027 int0 2028.

The implication is that something is wrong. However, this is a complex issue and as always the linear analysis always seeks to reduce this to a single cause and effect – i.e. silver short. However, what I rarely ever hear anyone mention is the real Shadow Dollar System: Repo and FX Swaps, both form the True Pillars of Global Liquidity. The global financial system operates on two largely invisible markets that dwarf traditional banking in scale and systemic importance: the repurchase agreement (repo) market and the foreign exchange swap market. Together, these markets circulate tens of trillions of dollars daily, providing the essential liquidity that keeps the modern financial system functioning.