Precious metals news

Gold looks set to benefit from its safe-haven appeal in more uncertain markets, according to economists at UBS.

After Silicon Valley Bank became the second-largest bank of all time to fail, investors and analysts across the world have been sounding alarm bells. Some fear that the entire banking system is still at risk, but many think that the Treasury Department’s decision to bail out depositors was enough to solve the problem. The crisis raised concerns about the stability of all major banks,..

Add it to the list. As the following chart from the Daily Shot via Isabelnet highlights, the Confidence Board’s Index of Consumer Expectations minus consumers’ current sentiment is showing one of its lowest readings on record.

As central banks assert control while making way for their dystopian CBDC, governments are moved to criminalize the use of cash.

Last week was book-ended with a focus on CS/UBS on Monday and a focus on Deutsche bank on Friday. FOMC came and went with a consensus read of a 25bps dovish hike that came alongside some reassurance that the end of the tightening cycle is near (language shift from ‘ongoing’ hikes to ‘additional policy firming may be appropriate’). That being said, the US regional banking pressures persist... albeit with no ‘new’ bad news to deal with and First Citizens trading up over 50% on the back of SVB acquisition news...The European banks recovering from a bout of extreme and aggressive de-grossing.

The Biden administration has floated another bloated budget, one that will put the US national debt at $43.6 trillion by 2033, assuming its optimistic growth and interest-rate projections pan out and the Ukraine war ends. If this budget passes, the debt will hit 110 percent of GDP, federal spending will exceed 25 percent of GDP, and federal revenue will top 20 percent of GDP, with the balance borrowed.

"Banking reform should rank high on our list of policy priorities, but moving away from fractional reserves shouldn’t be a part of the conversation." ~ Alexander William Salter

Fed Funds Futures are pointing to one more rate hike at the May FOMC meeting, then a turnaround with The Fed cutting its target rate.

The market and the government will continue to promote and support a neofeudal status quo until they are forced by society to restore the common good and opportunity.

In late 2020, the policy makers of the Biden administration and its partisan supporters started crafting a new COVID stimulus package. What they wrought set off a chain of events that ultimately led to the cost of living and banking system crisis we face today.

“Change is coming that hasn’t happened in 100 years and we are driving that change together.”

Driven by fears induced by the banking sector and the imminent end to Federal Reserve’s tightening cycle, investors are now turning their attention to precious metals to hedge their bets. For most, the unwritten rule is that during times of financial uncertainty, gold (and by association silver) is the way to go.

Gold is on the cusp of a major breakout from its super-bullish cup and handle pattern. The measured upside target is $3000/oz, and the log target is roughly $4000/oz.

The bloc must be more assertive n defending its security and economic interests, including possible EU-wide controls on outbound investment, European Commission President Ursula von der Leyen said ahead of a trip to China.

Anger at both individual regulators and a lack of sufficient banking regulation boiled over from the Senate to the House on Wednesday, as officials from the Federal Deposit Insurance Corporation (F…

... When that happens, the Fed is pushing on a string — printing money with no result except asset bubbles. That’s where we are today.

Currency is accepted at an increasingly fewer number of business establishments and simply cannot be used for very large sized transactions. Retail money market funds never became an important medium of exchange. Both are becoming a far less used medium of exchange.

As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26...

A second wave of deposit departures has started -- to money-market funds.

Right before a major hiking cycle by the Fed, both large and small banks decided to deploy deposits.