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The Fed's Weaponization of the US Dollar: Giving Big US Banks The Ultimate Safety NetApr 6, 2023 - 08:18:22 PDT
With the Fed backstopping big banks in the US, why would you hold capital in banks offshore?
Imagine you’re a multinational with global banking. What do you do? I’ll tell you what you do. You de-risk and shift your capital into these “systemically sensitive” US banks. That means banks outside of the US see capital flight.
Apr 6, 2023 - 08:09:34 PDT
The eighteen countries that have agreed to use India’s rupee as an alternate reserve currency include Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and the United Kingdom. Meanwhile, the BRICS countries (Brazil, Russia, India, China, and South Africa) are in the process of developing their own currency that will be presented at the organization’s upcoming summit in South Africa.
According to the Institute of International Finance (IIF), the value of global debt was slightly below $300 trillion in 2022. The world debt to GDP ratio fell last year but it is still above pre-pandemic levels. The US debt to GDP ratio in 1982 was around 35%. Today it is more than three times higher, at 120%.
"The Last War We Can Afford To Fight": Tucker Carlson Sounds Alarm Over De-DollarizationApr 6, 2023 - 08:02:14 PDT
As we've noted several times of late, a growing number of countries are threatening the US dollar's status as the global reserve currency by conducting global trade without it - you know, the thing Saddam and Gaddafi threatened to do before they were 'liberated' from their mortal coils for other stated reasons.
The allure of shares dimmed when bond yields surged and the corporate-earnings picture continued to darken.
What does it signify that the dollar is within a hair of its record low of a 2074th of an ounce of gold that it hit in August 2020?
The Accelerating Countdown to Armageddon tells us: “Those who focus on the U.S. national debt (and I’m one of them) ...."
Apr 6, 2023 - 07:20:08 PDT
Millions of Americans are beginning to ask themselves this question: Is the Federal Reserve (the “Fed”) a competent central bank or a terminally compromised regulator that simply does the bidding of Wall Street’s mega banks to the peril of average Americans and the U.S. economy? Millions of other Americans have already made up their minds on this point.
Last week, Fox News aired a segment discussing the possibility that the US dollar will cease to be the global reserve currency and what that would mean for Americans. The tone of the piece suggested that a “catastrophic” decline of the US dollar was not only possible, but perhaps even imminent.
In a system maintained by ever-greater extremes, confidence erodes very quickly once the next extreme fails to move the needle.
Uninsured deposits in the U.S. total at least $7 trillion. We show the top 30 banks with the highest level of these deposits.
Apr 6, 2023 - 05:50:01 PDT
ChatGPT's ideal model of a "recession proof" investment portfolio includes large allocations (20%) in gold and other precious metals.
Gold steadied above $2,000 an ounce as traders digested the latest data from the US and its potential impact on the Federal Reserve’s interest-rate path.
Inflation has been a massive issue for nearly every major country for the past year or so. Consumers and corporations alike have felt the pain, with the previous four quarters of earnings proving to be relatively lackluster. While inflation is slowly declining, it has caused the debt of the U.S. and other countries to soar.
Jobless Claims Explode Higher After BLS 'Revisions'; Tech Layoffs On '2001' PaceApr 6, 2023 - 05:43:43 PDT
After ugly ISM employment data, dismal JOLTS, soaring WARN notices, and a weaker than expected ADP print, this morning's Challenger, Gray & Christmas report announced a bigger than expected 89,703 job cuts in March (270,416 year-to-date), up 319.4% YoY. The West dominated the cuts (East 13,638; Midwest 21,764; West 48,123; South 6,178), with technology-sector...
Small Businesses File For Bankruptcy At Record Pace, Surpassing COVID CrashApr 6, 2023 - 05:42:44 PDT
Small businesses across the United States are experiencing a surge in bankruptcies, surpassing levels not seen since 2020. According to a UBS note reviewed by The Epoch Times, conditions could become worse as the knock-on effects from the recent banking crises begin to manifest.
Layoffs Are up Nearly Fivefold So Far This Year With Tech Companies Leading the WayApr 6, 2023 - 05:40:52 PDT
Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month.
The record number of developing nations at risk of a debt crisis will be high on the agenda next week when central bankers, finance ministers and political leaders convene for the World Bank Group and International Monetary Fund (IMF) spring meetings.
US Treasury yields declined further Wednesday — with the benchmark 10-year reaching its lowest level since mid-September — after a gauge of service-sector activity became the latest piece of data to suggest the US economy is headed for a downturn.
The approaching US earnings season is expected to be the gloomiest since the pandemic, according to Goldman Sachs Group Inc. strategists.