ECONOMY

JPMorgan CEO Calls Monetary Blowout Top Risk

July 31 (EIRNS)—Anti-Glass-Steagall fanatic Jamie Dimon gave CNBC’s “Closing Bell” yesterday a song-and-dance about how great economic growth is, but when asked what the single biggest risk to the economy is right now, he alluded to the imminent potential for a blowup of the quadrillion-dollar hyperinflationary bubble created by 10 years of Federal Reserve and Western central bank “quantitative easing” (QE).

“I don’t want to scare the public, but we’ve never had QE. We’ve never had the reversal. Regulations are different. Monetary transmission is different. Governments have borrowed too much debt, and people can panic when things change,” JPMorgan’s CEO answered.

He also named a trade war as a risk, but the QE blowout is the threat, the big, looming financial “nuclear bomb.”

CNBC headlined its report, “The Market Is Dealing with Something It’s Never Seen Before That Has Jamie Dimon Worried.”