Originally published at: US/Israel Attack Iran, Iran Strikes US Bases, JP Morgan Says Gold Could Hit $9.3k per Ounce – Peak Prosperity
Geopolitics
President Trump announced a large-scale operation against Iran to eliminate nuclear threats, destroy missiles, navy, and proxies. In an eight-minute address, he cited Iran’s history, including the 444-day embassy hostage crisis, the 1983 Beirut bombing killing 241 Americans, USS Cole involvement, Iraq attacks on U.S. troops, and Hamas’s October 7 assault killing 46 Americans. Following Operation Midnight Hammer, which targeted Fordow, Natanz, and Isfahan sites, Iran reportedly rebuilt capabilities threatening Europe and pursuing U.S.-range missiles. Trump offered Revolutionary Guard immunity if surrendering and warned of death otherwise, urging Iranians to overthrow the regime and promising support.
Strikes reportedly targeted Tehran, Karaj, Kermanshah, Qom, Isfahan, including Ayatollah Khamenei’s residence, parliament, National Supreme Council, Intelligence Ministry, and Atomic Energy Agency, plus cyber attacks on news agencies. The operation was described as a decapitation and multi-day campaign, with the U.S. focusing on decision-makers, bunkers, and surface combatants, and Israel on military launchers. Netanyahu thanked Trump, calling Iran an existential threat.
Iran retaliated with:
- Ballistic missiles hitting U.S. 5th Fleet HQ in Bahrain and bases in UAE (Abu Dhabi, Dubai), Qatar, and Kuwait
- Drones and missiles on Israel (30-70 intercepted)
- Strikes from Yemen Houthis and Iraq.
The U.S. responded with strikes in Iraq, including against Kataib Hezbollah headquarters, which killed two members. Airspace was closed over the UAE and Iraq. Sirens sounded in Jordan and Kuwait as a precaution. Casualties included 40 killed at a girls’ school in Minab, Iran, and one person in the UAE from shrapnel. No deaths of senior Iranian officials were confirmed, though various unconfirmed reports circulated. Regional involvement now includes Iran, Yemen, and Iraq against the U.S. and Israel.
Trump claims that Iran has been developing U.S.-range missiles. However, this contradicts U.S. intelligence, with the DIA assessing potential ICBM capability by 2035 if pursued. The current longest range is reportedly under 1,900 miles.
Reports indicate the timing of the strikes on Iran coincided with the Jewish holiday of Purim, which CNN described as bearing symbolic meaning. The Torah portion Zachor commands remembering Amalek’s assault and eradicating its memory upon return to the homeland. Prime Minister Netanyahu has likened Iran to Amalek since 2009, citing its nuclear threat, calls for Israel’s destruction, and proxies like Hezbollah and Hamas following October 7.
Lastly, Vice President JD Vance stated there is no chance U.S. strikes on Iran will lead to a prolonged war, emphasizing diplomatic preferences but dependence on Iranian actions. Critics warned of escalation risks involving Iranian proxies and regional bases.
Chris issued a formal Alert to Peak Insiders yesterday. In addition to the Alert, several member-only discussions are active in the community forum.
Economy
Major banks have raised gold forecasts. JPMorgan projected $5,900 to $9,300 per ounce in scenarios where U.S. gold backs all dollars in circulation, with a $4,500 long-term base and over $6,300 by end-2026. Goldman Sachs forecasted $5,400 for 2026 year-end with significant upside risk. JPMorgan’s base case is $6,300, with $8,500 upside. COMEX silver inventories have fallen 75% from 2020 levels to 82 million ounces. Central banks have increased purchases fivefold to 107 tons monthly since 2022, with Goldman estimating a 2% price rise per 100 tons bought. The U.S. M2/gold ratio stands at 4.5, compared to 2.5 in the 1980s, amid $354 trillion global debt and tripling U.S. interest payments. Some analysts described JPMorgan’s $9,300 figure as a thought experiment illustrating monetary dynamics rather than a base forecast.
In the more immediate-term, gold prices have stabilized in the low to mid-$5,000 range, while silver prices have risen into the low $90s, according to market data. Reports indicate a physical short squeeze on exchanges. Inventories at the LBMA, CME, and Shanghai Gold Exchange have declined sharply, with Shanghai inventories reportedly dropping 10% in one day to near-zero levels for China. The CME experienced a 90-minute trading halt in metals due to technical issues. COMEX data shows a 500 million ounce short position in silver, primarily held by banks. Delivery notices included 5 million ounces from Bank of Nova Scotia. Skeptics attributed subsequent price pullbacks—silver to $88.20 and gold to $5,164—to bullion banks preventing breakouts above recent highs.
Billionaire investor Eric Sprott stated that banks like Scotiabank, RBC, and others have lost control, with demand from China and India driving prices. India’s SEBI has mandated that mutual funds and ETFs allocate up to 35% of $385 billion in assets to gold and silver starting April 1, which could add over $100 billion and establish local spot pricing.
Sprott forecasted silver reaching $150 or higher, citing a current mining ratio of 8:1 compared to a historical 15:1, along with industrial demand in solar panels, batteries, and healthcare. He referenced Samsung’s deal for all output from Silverthorn Energy and premiums paid by Hecla and First Majestic. Sprott’s investments include Highcroft Mining, with 20 million ounces of gold and 700 million ounces of silver in Nevada and reserves expanded to 2.6 billion silver-equivalent ounces. Other positions include $3 million in Rio Silver, $10 million in Silver Co., and $40 million in Highlander Silver. He estimated that at $150 silver, producers would be valued at 10 times higher based on $150 million annual profit per million ounces.
Epstein Files
Hillary Clinton testified before the House Oversight Committee that she had no knowledge of Jeffrey Epstein’s or Ghislaine Maxwell’s crimes, stating she did not recall encountering Epstein and never flew on his plane or visited his properties. She expressed horror at the crimes and disappointment over Epstein’s 2008 plea deal for 13 months in prison. Bill Clinton testified the next day in a closed-door session, denying awareness of Epstein’s crimes and stating his brief acquaintance ended years before they surfaced. He claimed he saw nothing wrong during limited interactions. The depositions featured partisan clashes, with Democrats arguing for a subpoena of President Trump.
Flight logs show Bill Clinton flew on Epstein’s plane in 2002-2003 for Clinton Foundation work, visited Epstein’s New York home, and Epstein visited the White House multiple times during his presidency. Epstein donated to Clinton campaigns and their foundation. However, Maxwell told investigators Bill Clinton never visited Epstein’s island. A spokesperson said Bill Clinton had not spoken to Epstein in over a decade and avoided his island, ranch, or Florida residence. Lawmakers questioned the Clintons amid probes into Epstein’s wealth and potential government ties, with no accusations of wrongdoing reported.
Sources
Billionaire Eric Sprott: Physical Silver Squeeze Signals $150+ Rally, Massive Miner Upside
there’s no doubt there’s a physical short squeeze going on.
Source | Submitted by PhilH
JPMorgan Eyes $9,300 Gold in Monetary Reset Scenario
If existing US gold holdings were to back up all US$ in circulation…~$9,300/oz.
Hillary Clinton Denies Epstein Knowledge in House Testimony
“I do not recall ever encountering Mr. Epstein.”
Even Banks Now Bow to a Golden Master
Rock now beats paper.
Vance: “No Chance” Iran Strikes Spark Endless US War
The idea that we’re going to be in a Middle Eastern war for years with no end in sight – there is no chance that will happen
Bill Clinton Denies Epstein Knowledge, Revives Lewinsky-Style Plea of Ignorance
I saw nothing, and I did nothing wrong,
CNN: US-Israel Iran Strikes Carry Symbolic “Remember Amalek” Meaning in Judaism
“The timing of the US and Israeli attack on Iran bears symbolic meaning in Judaism.”
Iran Retaliates: Missiles Hit US 5th Fleet HQ in Bahrain, UAE Bases After Trump-Backed Strikes
US military bases in the Middle East are under attack in retaliation for US and Israeli strikes against Iran
Trump Announces “Massive Operation” Against Iran: Full Speech as Strikes Rock Tehran
A short time ago, the United States military began major combat operations in Iran.
Trump’s Iran Missile Threat Claims Clash with US Intel Consensus
Trump Claims Iran Developing Missiles To Hit US, Contradicting Intel Reports
US Strikes Major Iranian Targets: Parliament, Supreme Council, Intelligence Ministry, Atomic Agency Hit
Attacks on the Iranian Parliament, the National Supreme Council, the Ministry of Intelligence, the Iranian Atomic Energy Agency, and also cyber attacks on news agencies such as IRNA.
Iran Strikes US Bases in Gulf States: Fifth Fleet HQ Targeted in Bahrain
Iran has struck US forces in Qatar, Bahrain, Kuwait, and the United Arab Emirates.
U.S.-Israel Launch Decapitation Strikes on Iran as Tehran Fires Back with Missiles
Regional War Erupts: Iran, Yemen, Iraq Strike Israel as US Hits Back in Iraq
It’s safe to say this has become a regional war.
U.S. and Israel Launch Major Strikes on Iran, Trump Urges Regime Change
The U.S. and Israel launched a major attack on Iran on Saturday
In addition to sources submitted by community members, the following were also used in the creation of this report: A K Manndban; Gold Analyst; @Dan_Brisbois; Rep. James Comer; CNN; Al Jazeera English; Big News Big Media; ABC; Stars and Stripes; Owen Shroyer.