Gold has all the potential to go unprecedentedly high. But silver will be gold on
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For 2009 there were 118 bankruptcies through April. In Covid-impacted 2020, there were 71 bankruptcies. In 2023 there have been 70.
May 1, 2023 - 08:12:35 PDT
Sweetheart Deal On April 29, I wrote No Buyer for First Republic Bank at Any Price, Here's Why
My post did not include loss guarantees, $50 billion in financing, or refunded deposits.
I should have said, "No Buyer at a Fair Market Price". But the Run on First Republic continued, and the Fed needed a buyer. And so here we are.
May 1, 2023 - 08:11:08 PDT
Thanks to O’Biden (Obama/Biden) and Senate Majority Leader Chuck Schumer’s failure to negotiate a debt ceiling increase, the US has officially become a banana republic. Crazy government…
May 1, 2023 - 08:07:48 PDT
Second, we have the US yield curve (3M T-yield – 18M FWD 3M T-yield) crashing to the most inverted since the 1990s.
ISM Manufacturing Screams Stagflation, Still Contracting With "Reigniting Inflationary Pressures"May 1, 2023 - 08:05:55 PDT
So ISM screams stagflation - no growth and higher prices.
May 1, 2023 - 08:02:15 PDT
In fact, the government has become increasingly intolerant of speech that challenges its power, reveals its corruption, exposes its lies, and encourages the citizenry to push back against the government’s many injustices.
May 1, 2023 - 07:58:38 PDT
A review of the IRS job board shows the agency is seeking to hire armed agents in all 50 states. “WE’RE HIRING SPECIAL AGENTS NOW!” states the IRS website in all caps, with an exclamation point for emphasis. “Click here to apply today!” [Archived link here in case the IRS removes the listing] Under the […]
The US Government, which is already expected to have a budget deficit this year of over $1.4 trillion, faces a recession.
"Collateral Damage & Unintended Consequences" Of JPM's Sponsored Buyout Of FRC: El-Erian WarnsMay 1, 2023 - 07:54:13 PDT
Lots will be written on the rise and fall of First Republic Bank. Its customer service was legendary in the banking system, as was its list of rich clients with ample deposits and a healthy appetite for issuing jumbo mortgages to highly creditworthy borrowers. Yet it went from being admired to being seized by regulators and sold to another bank.
The Silver Institute supply/demand numbers - as bullish as it’s possible to get for a commodity. Silver premiums are soaring - US Eagle's around $40 per silver coin ounce. Silver could soar to $30-$40 per ounce.
On 4H chart, XAG/USD pair shows a clear breakout from the descending triangle pattern. Such breakouts are very bullish, and their target can often be predicted. Considering the momentum behind the current rally, it is quite likely that the Silver will break above its yearly high of $26.08 this week.
From a technical perspective, any subsequent move-up is likely to confront some resistance near the $2,010-$2,012 supply zone, which if cleared decisively will negate any near-term negative bias and prompt some technical buying. The Gold price might then climb to the $2,039-$2,040 region before aiming to challenge the YTD peak, around the $2,048-$2,049 region touched on April 13.
Europe’s self-styled problem solver has won over naysayers for her deft handling of serial crises. But this latest economic fire is proving hard to quash
Currencies were in limbo on Monday as holidays in most of Asia made for thin trading, while traders braced for a packed week of central bank meetings that would offer the latest guidance on future rate hikes across continents. Activity in the foreign exchange markets was subdued due to the Labour Day holidays in Singapore, Hong Kong and mainland China. Japan, Australia, and New Zealand are the only centres open in Asia.
Waves of money printing have turned banks into "drug addicts" reliant on cheap cash to stay afloat, one of the world's top central bankers has warned.
At their meeting this week, officials could keep their options open in crafting signals around the endgame for increases.
Bond investors, fearing a recession is around the corner and preparing for an end of the Federal Reserve's tightening cycle, have embraced the safety of U.S. Treasuries and shed risky exposures in investment grade and high yield credit.
Financial markets are caught up in a tug of war between lingering inflation and concern about a recession as they try to guess the next move by the Federal Reserve. That means investors are potentially ignoring a far more dangerous outcome: stagflation.
In 2008, regulators did not see the potential for contagion from a subprime crisis. Nor did they see the possibility of a resulting nationwide residential real estate meltdown. Lesson learned.
Jerome Powell Could Face More Opposition as Fed Choices Get Tougher: BloombergMay 1, 2023 - 05:57:07 PDT
Chair Jerome Powell has achieved a near-perfect consensus as the Federal Reserve raised interest rates aggressively. Now, with the hiking campaign drawing to a close, that agreement is going to be a lot tougher to maintain.