FELIX PREHN DAILY MARKET NEWS By Goat Academy · Felix Prehn

Felix Prehn - JP Morgan Quietly Took 12M oz of Physical Silver… Here’s the Real Plan + Stock Market News 27 February 2026 (Goat Academy)

·30 min·1 clip

JP Morgan took delivery of over 12 million ounces of physical silver from Comex in one month.

1. FELIX PREHN DAILY MARKET NEWS By Goat Academy focuses on JP Morgan’s physical silver buying and the private credit market on 27 February 2026. 2. Felix Prehn is the host, Winston is the research and risk side of the show, and Goat Academy is the platform he says teaches institutional strategies to retail investors. 3. The episode asks why JP Morgan, Jane Street, and other institutions are accumulating physical silver while a $3 trillion private credit market is under pressure. 4. Felix defines private credit as Wall Street’s shadow lending system that steps in when post-2008 bank rules limit loans. 5. He says the private credit market has risen from $500 billion to $3 trillion, and he compares that scale with the 1.3 trillion subprime market that peaked before the global financial crisis. 6. He says UBS warned that private credit default rates could spike to 15%, and he mentions a UK private credit lender going bust on the same day. 7. Felix explains payment in kind as adding unpaid interest onto the loan balance, using a $100,000 mortgage and $7,000 annual interest example. 8. He quotes Jeffrey Gundlach calling private credit the “ultimate sin,” and he quotes Jamie Dimon saying, “when you see one cockroach, there are usually hundreds more hiding.” 9. He argues that banks lend to private credit lenders, who then pass money to risky borrowers, so the real exposure sits behind another layer. 10. He says silver matters because industrial demand from solar panels, electric vehicles, and AI infrastructure collides with monetary demand for a hedge. 11. Felix says silver is the most electrically conductive element on earth, and he notes that solar panels consume 25% of annual solar supply. 12. He says COMEX silver inventory has fallen from 120 million ounces in March to 86 million ounces, which he describes as more than a third gone in less than a year. 13. He says the above-ground stockpile is being drawn down quickly, and he points to Shanghai premiums for gold and silver as another data point he tracks. 14. He says SLV owners do not own redeemable physical silver, and he identifies JP Morgan as the custodian of the largest silver ETF. 15. He notes that JP Morgan paid a $920 million fine for market manipulation, then says the same bank is now sitting on 750 million ounces of physical silver. 16. He says Jane Street bought about 20% of the world’s market share of silver through 20 million SLV shares in one quarter, making it the largest reported holder of SLV. 17. The tone is direct, repetitive, and argumentative, with frequent jokes, rhetorical questions, and repeated calls for comments and training sign-ups. 18. The format is a solo market commentary with digressions into bank compensation, physical-metal flows, and Felix’s own data tools and training offer. 19. Best for investors tracking silver, banks, and credit risk. 20. Probably skip if you want a calm, non-promotional market briefing.

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