Bankers Want Millionaires to Accept $5,000 per $1,000,000 Deposit in 2024 v. Real, Already Achievable Returns of Nearly $320,000 per $1,000,000. Are They Trolling Us?
by John Kim
During the 2008 financial crisis, certain banks in New Zealand/Australia trolled all bank customers by advertising 0.0% APYs on accounts, proud that their interest rates did not descend into negative territory. I remember laughing out loud back then at the desperation that would lead to advertising 0.0% interest rates as a reason to bank at these institutions. Back then, I did not believe that trolling against back customers could get any lower than advertising 0.00% interest on bank accounts, until I observed some recent advertising campaigns of a few banks this year. Recently, I’ve observed some US banks attempting to entice multimillionaires to deposit at least $1,000,000 or more in cash to receive a “free” $5,000 bonus, a $2,000 deposit bonus for a cash deposit of $100,000 to $499,999 (JP Morgan Chase), and a $500 deposit bonus for a cash deposit between $25,000 and $99,999 (link to these offers here).
The reason I find such advertisements so comical and even worse than advertisements of 0.0% interest rate deposit accounts during the 2008 crisis is the following:
(1) Only a completely uneducated and ignorant client would deposit half a million dollars to a million dollars in cash for respective yields of $2,000 and $5,000, or yields of 0.4% and 0.5%, as this is a complete misuse of so much cash.
(2) For one of the biggest banks in the world to publicly advertise these bonuses signifies bankers’ strong beliefs in the complete investment illiteracy of the entire world, as a simple strategy I provided right here on this platform, easily executable by every single subscriber, already has yielded a return of $274,725 to $318,182 in just eight weeks, between 14 February and 14 April this year on a million dollars.
Since every investor on this planet would choose a yield of $274,725 to $318,182 in eight weeks’ time over a one-time payment of $5,000 on a million dollars, such a comical offer to entice new customers reveals that bankers truly target the population Goldman Sachs bankers derogatively referenced as “muppets” in leaked, internal emails during the 2008 financial crisis – wealthy people that are incredibly easy to scam. Though some may ask how anyone can label an offer of free money as a scam, it’s easy to identify as a scam if infinitely better uses of that money to achieve infinitely superior yields exist. It’s hard to believe that so many wealthy “muppets” exist in this world for bankers to scam with such disrespectful offers disguised as customer “bonuses”. In fact, the earning of a paltry $5,000 on $1M in cash reminds of the Biblical parable of three servants in the book of Matthews in which the lazy servant merely buried the money given to him by his master in the ground and returned the same amount to him after his master returned after a long period or being away. The other two servants invested the money and returned a greater amount to their master than the amount given to them. The master, in turn, took the money from the lazy servant, called the lazy servant “wicked”, and gave this money to the servant that had earned him the most money. Thus, giving $1M to someone, or a bank, for a bonus of $5,000 seems almost wicked, even today, when simple strategies with good timing, per my instructions, would have already yielded a few hundred thousand dollars on this same $1M. However, I understand why bankers believe this “wicked” offer will be appealing to multimillionaires and likely will be acted upon by more than a few. With little to no real world utility in all investment information taught within Harvard, London School of Business, and other “top” MBA programs today, MBA programs continue to churn out the very “muppets” that banks like JP Morgan and Goldman Sachs seek to exploit for their own benefit. Thus, no incentive exists for big banks to provide an offer of any real value, as endless opportunities for exploitation of investors’ ignorance and naivete exist today.
For those that forgot the guidance that I provided here on this platform that has already yielded $274,725 to $321,818 on every million dollars, here is the link to that article in which I discussed that strategy. In this article, I did not just offer wild speculations that a big rise in gold and silver prices were coming, but I spent hours poring through decades of data I had compiled to produce the conclusion I discussed. In fact, I discussed Open Interest numbers that existed in gold and silver derivative markets this past February and their relation to previous OI numbers over the past couple of decades, and the specific reasons why the OI/ price behavior this past February gave me strong confidence that a big silver price move was coming. I further summarized 20 hours of my research drawn from my 20-year personal database of gold/silver price movements to prove my case that gold/silver prices were setting up for an imminent explosive run higher in that article. Given the volume of paper upon which I had scribbled down my notes about the relationship of OI and demonstrated gold/silver price behavior over the past two decades, that article could easily have exceeded ten pages in length. But instead, I summarized my research with a terse statement in that article, for those worried about lower silver prices materializing, my prediction “in the week preceding Chinese New Years, that Western bankers were getting ready to slam gold from $2,040 levels back under $2,000 and silver [by more than 6%] from $23.45 levels back under $22.” Both of these predictions came true. Though bankers successfully pushed silver a few pennies below $22, they had slightly more success with their gold price manipulation, pushing gold about $15 below the $2,000 mark. However, to be clear of my belief that these prices marked the lows for both gold and silver, I stated that my analysis of current OI/gold price behavior versus past OI/gold price behavior revealed “a very positive development for [future] gold prices and should alleviate fears and expose the silly claims of gold analysts that still claim gold could crash back to $1,000 on the rise of BTC prices.”
And even though I only discussed the above price bottoms provided to my patreons a few days later here on this platform, the silver price was still only $22.75 on the date I released the above article. And I was extremely clear and blunt in my guidance that silver had put in its bottom by titling that article “The Most Important Article Gold and Silver Newbies Will Read All Year.” Though more experienced gold/silver investors may have thought that title to be a little over the top, I deliberately assigned it with a title that even newbies could not possibly ignore about gold/silver having put in their bottom prices during Chinese New Years. And just a week later, to reinforce this message to not ignore the opportunity to buy silver before its price skyrocketed, I published a follow-up article titled, “As an Intelligent Investor, Don’t Overlook this Asset” in which I reiterated the massive opportunity in silver that existed before silver prices soared. So, perhaps the benefit of the analysis I provide here over my patreon platform is that I provide a lot more hand holding in my investment strategies to ensure that no intelligent investor can miss out on the opportunities I discuss here.
With silver prices moving as high as $29.90 this past Friday, whether you were a subscribing Substack member or a subscribing Patreon member, following my specific guidance on either platform, one easily executable by anyone, would have returned a minimum yield last Friday at a silver price of $29.00 (not even the high), of $274,725 on a million dollar investment and a near $320,000 yield if one had purchased silver at my predicted low price of $22 an ounce. Compare a $274,725 to $320,000 yield on $1M to a truly pathetic yield of a couple to a few thousand dollars offered by JP Morgan Chase Manhattan and other big banks, and it is easy to conclude why I view these offers as an act of bankers trolling their customers yet again. And even though I am not selling any of my physical silver purchased at $22 an ounce and will choose to stack more physical on any significant future price pullbacks, as is natural after such a rapid steep rise in price, there is no possible outcome in which anyone with a million dollars to invest with proper exit strategies, will not realize an incomparably larger return using my offered silver strategy versus the realized return on a $1M cash deposit offered by big banks.
How to Avoid Being Among the Investors that Act Against Their Own Best Interest
A very curious phenomenon has always existed in the investment world in which many investors can be easily cajoled to repeatedly act against their own best interests. I don’t understand, to this day, why most investors show zero interest in buying assets when prices are extremely low and only display any interest after said asset price has risen tremendously higher. It is a most curious phenomenon, because all investors know they maximize profits by buying when prices are low and selling high, not by buying high and selling higher. Yet many investors refuse to buy when all their peers are uninterested in buying an asset, which is why following the herd’s behavior will almost never lead to profit maximization. But remaining within the confines of herd behavior, not breaking from it, unfortunately is the sweet spot where most investors feel safe. Most investors need acknowledgement from their peers that their investment behavior is correct and breaking away from herd behavior to make the right decision often takes investors years to learn. This poor investment behavior actually has more to do with herd psychology than anything else, so to break out of this self-harming pattern of investment behavior, I simply recommend reading books that discuss and explain the reasons why humans engage in herd behavior against their best interests.
But physical silver is not the only investment asset that I’ve discussed here as a truly great opportunity preceding a major breakout in price. I’ve also spoken about, in recent months, how the real rise in this following asset class has really not taken off yet, so I hope that anyone that made the mistake of ignoring my physical silver opportunity does not compound that mistake by also ignoring this following opportunity.