Precious metals news

Imagine having $200 billion stolen from you - what would that feel like? Watch today’s video with Mike Maloney and find out…because it just happened to you.

The current wave of interest-rate hikes has slowed inflation but also popped several asset bubbles, potentially triggering additional debt and financial crises. While a prolonged economic downturn may be inevitable, the G7 countries can soften the blow by coordinating their fiscal and monetary policies.

While Federal Reserve officials have sought to assure markets that the US banking system is sound in the wake of Silicon Valley Bank’s collapse, investors and depositors have no reason to believe them. Only meaningful reforms of deposit insurance, regulation, and governance can restore the Fed’s credibility.

As we near what appears to me to be a preliminary step for a Fed digital dollar or CBDC, it is not surprising that the Financial Times ran an editorial capitalizing on the collapse of Silicon Valley Bank to argue that the time for a Fed CBDC has arrived. After all, if we had a digital Fed dollar, we wouldn’t need to muck around with those high-risk cryptos that helped bring down SVB...

The Social Contract is broken not just by wealth inequality per se but by the illegitimate process of wealth acquisition

...If the big banks are unable to engineer a material pullback in the prices of gold and silver, a possibility that not beyond consideration, the signal sent to the market could trigger a move in the sector that takes everyone, even the staunchest of long-time gold bugs, by surprise.

Money supply is declining at the sharpest pace since the Great Depression.

Even Miami lost ground. Spring selling season is a dud so far. And the banking crisis hasn’t even made it into the data yet. That’s still to come.

Wasting away again in Bidenville. Nibblin’ on ice cream. Watching the economy boil. Particularly mortgage demand. Mortgage applications increased 3.7 percent from one week earlier, according …

Bill Mitchell, a geologist in El Dorado County who specializes in mineral exploration, said a majority of the gold in the Sierra had still not been extracted. It’s going to take rainy years like this one to pry some of the remaining gold loose, he said.

Gold prices stuck within a narrow range on Wednesday as traders strapped in for U.S. economic data for further guidance on the Federal Reserve's monetary policy stance.

After declining for two straight months, analysts expected US durable goods orders to bounce modestly (+0.7% MoM) in preliminary March data released today. Instead the print soared 3.2% MoM rescuing the YoY from dropping negative for the first time since Aug 2020...

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www-ft-com.ezp.lib.cam.ac.uk/tour. https://www-ft-com.ezp.lib.cam.ac.uk/content/3370ae57-7f26-463e-9233-761322ccdd0f The changes have been accompanied by a big increase in loans without historical investor protections — so-called covenant-lite loans. Although the balance of power has shifted in investors’ favour this year as financing markets have become tighter for borrowers, the effects of the revolution will be felt in debt restructuring fights to come.

Japanese investors are turning to creative trades using interest-rate swaps to try and squeeze some yield from a volatile global bond market.

Bank stress will likely be limited to a small number of banks but lead to tighter lending conditions and a pick-up in corporate defaults, a Bank of America April credit investor survey released on Wednesday showed.

The cost of insuring exposure to United States sovereign debt rose to its highest since 2011 on Wednesday, driven up by unease that the government could hit its debt ceiling sooner than expected.

Wall Street's major averages suffered their deepest declines so far this month as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy on Tuesday while plunging deposits at regional First Republic Bank added to jitters about the bank sector's health.

World Bank Chief Economist Indermit Gill is calling for new approaches to address the mounting debt crisis facing many countries, including steps to factor domestic borrowing into assessment of a country's debt sustainability.

"Sadly, I think it's going to take that kind of market signal to wake my ideologically frenzied friends up," Rep. Jim Himes said.

Just when you thought the S&P 500 banking crisis was over, tanking financial stocks remind investors the crisis still rages.