Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Premiums for gold and silver Eagles are at all-time highs because of shortages caused by the Mint's embarrassing production failures. This also contributed to demand for alternative products and put pressure under those premiums as well.
The latest data from the Federal State Statistics Service (Rosstat) has revealed that Russian gold miners produced 26.5% more gold in March 2022 compared to the same period last year. Additionally, gold production in March increased by more than 30% when compared to the previous month, and the first quarter figure was 9.1 percent higher than the same period last year...
Even after the sale of First Republic, investors are worried about challenges that regional banks still face, imperiling the economy.
May 2, 2023 - 12:41:15 PDT
The chief economic adviser at Allianz warned of four notable unintended consequences for the US financial system, that could emerge from the final outcome of the First Republic narrative.
Stanley Druckenmiller, the legendary hedge fund investor and long-time deficit hawk, said the current impasse over the debt ceiling is dwarfed by the dangers of unchecked future government spending.
US companies are turning to derivatives to lock in future borrowing costs, as corporate finance chiefs worry that financing will grow more expensive amid stubborn inflation, even if markets are bracing for rate cuts in 2023.
The Austrian business cycle theory teaches us that low interest rates manipulated by the central bank lead to malinvestments, which are cleared when the central bank lets rates rise, reflecting a truer cost of capital.
Regional bank stocks saw their losses for the week deepen as investors digest the failure of First Republic.
The news is full of emergency meetings, central banks offering credit lifelines and tumbling bank shares. Another troubled US bank has been taken over, but your money is safe, say regulators.
Shares in US Banks PacWest Bancorp and Western Alliance Suspended as Fresh Crisis Fears Grip MarketMay 2, 2023 - 12:21:09 PDT
Shares in two regional US banks have been paused amid fresh concerns about the health of the financial sector in the wake of the rescue of First Republic.
Goldman Trading Desk Warns Bank Selling Is Spreading And Could Get Far WorseMay 2, 2023 - 12:18:08 PDT
Remember yesterday morning, before the open, when Jamie Dimon told the world not to worry because "the system is very, very sound" adding that the FRC deal "will help stabilize the system" and various talking heads proclaimed that FRC was just another outlier bank, nothing systemic and "this is getting near the end of it" on bank failures...
Gold extended gains on Tuesday and was on track for its biggest daily rise in a month, after grim data on U.S. job openings further clouded the economic picture ahead of the Federal Reserve's widely anticipated decision to hike interest rate.
Us May Default on June 1 Without Debt Ceiling Hike; Biden, McCarthy to MeetMay 2, 2023 - 08:41:42 PDT
U.S. President Joe Biden on Monday summoned the four top congressional leaders to the White House next week after the Treasury warned the government could run short of cash to pay its bills by June.
Weak JOLTS?, Poor factory orders, hot EU inflation, surprise RBA rate-hike, a sudden realization of the urgency and seriousness of the debt ceiling debacle, Europe back from vacation, or just pre-FOMC jitters?
Labor Market In Freefall As Job Openings Slide, Quits Tumble To 2 Year LowMay 2, 2023 - 08:37:26 PDT
For months we have been warning that at a time when the US economy is careening into a hard landing recession, the manipulated, seasonally-adjusted, and politically goalseeked job openings data released as part of the DOL's JOLTS report is sheer rubbish...
And Fed Chair Jay Powell won’t interfere.
What if the world’s states were to come together and create a single world currency? From a purely economic point of view, there would be significant advantages if every nation didn’t operate with its own money but with the same currency.
It is becoming increasingly clear that the world is losing faith in the United States dollar… and rapidly turning to alternatives. And that’s a huge deal for the United States.
Continuing with the current policy of higher interest rates might lead to further financial and economic problems similar to what happened in 2008 (Great Recession) and 1929 (Great Depression).
A hike on May 2 is a given. The market perceives a 30.1 percent chance of a one more hike in June.
The light green bars show the panic around the bank failures in May. The market has since put more rate hikes back on the table as noted by the bars for April 11 and May 2.