Head of largest US bank warns of risk of American stock market crash
PatriotR Daily News 10/10/25
Crash Expert: “This Looks Like 1929” → 70,000 Hedging Here
Mark Spitznagel, who made $1B in a single day during the 2015 flash crash, warns markets are mimicking 1929. Yeah, just another oracle spouting gloom and doom, right?
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Bonds? Not much better.
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US NEWS
Head of largest US bank warns of risk of American stock market crash
Jamie Dimon, CEO of JPMorgan Chase, warned that the risk of a major U.S. stock market crash is far higher than most investors believe—estimating a 30% chance of a serious correction within the next 6 to 24 months, compared to the market’s current pricing of 10%. He cited multiple global uncertainties—geopolitical tensions, rising fiscal spending, and global remilitarization—as reasons for concern, saying that “uncertainty should be higher in most people’s minds.”
His comments echo broader warnings from global financial leaders. IMF chief Kristalina Georgieva cautioned that “uncertainty is the new normal,” while the Bank of England noted growing risks of a “sudden correction” due to inflated AI company valuations.
Dimon acknowledged AI’s long-term potential but compared the current boom to past tech bubbles, suggesting that many AI investors could lose money even if the technology ultimately succeeds. Read More.
US NEWS
BRICS Spurs Central Banks Record Gold Buying: They Know Dollar Will Collapse
Central banks—especially from BRICS nations and their allies—are accelerating gold purchases as part of a growing effort to reduce reliance on the U.S. dollar and Western financial systems. In August 2025 alone, global central banks added 15 tonnes to reserves, with Kazakhstan leading (8 tonnes) for the sixth straight month. Poland remains the top buyer of 2025 with 67 tonnes, and China extended its buying streak to 10 consecutive months. Despite record-high gold prices, the accumulation trend has continued through September and October.
Analysts say these purchases reflect a long-term strategy of de-dollarization, as BRICS nations expand trade in local currencies and explore payment systems like BRICS Pay. The dollar’s share of global reserves has dropped from 70% in the 1990s to 57.8% today, while BRICS members now control about 20% of the world’s official gold holdings—led by Russia (2,335 tonnes) and China (2,279 tonnes).
Other countries joining the buying trend include Bulgaria, Turkey, Uzbekistan, Ghana, El Salvador, and the Czech Republic, signaling a broader global shift toward gold-backed stability. Surveys show 76% of central banks expect gold reserves to rise further in the next five years, underscoring that this is not a short-term hedge but a systemic move to prepare for a new, more multipolar financial order. Read More.
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