Stacy Summary: I assume this is the same Keith Weiner who had a cognitive dissonance meltdown after our expose of the fundamental contradiction at the heart of his alleged ideology. Here he is with an opinion piece trying to tell us all that we should all be Jamie Dimon’s slaves because the master might not dispense our food stamps if we’re uppity – so we’d better not Crash JPM, Buy Silver. Note, too, that he thinks it is price and not physical ounces withdrawn from the market that matters:
When a company collapses, it defaults on its debts. The creditors of JPMorgan are “we the people” including our bank accounts, our employers’ payroll accounts, our pension funds, our insurance funds, our annuities, our brokerage accounts. Creditors also include farms, grain elevators, food processing plants, the electric power companies, etc. Other banks are creditors of JPMorgan as well; it is implausible that any would survive the collapse of JPMorgan.