Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Mar 21, 2023 - 12:53:59 PDT
Steve Forbes calls out the taboo of discussing the gold standard in serious conversations about the economy, and points out that were the US still using it, many economic crises would not have occurred.
Gold has embarked on a steady up move. Economists at Societe Generale expect the yellow metal to enjoy further gains toward the $2,055/75 region.
Is Silver the Next Gamestop? How Retail Investors Challenged Wall Street Giants AgainMar 21, 2023 - 12:50:28 PDT
In the wake of unprecedented short squeezes involving stocks like GameStop and AMC in early 2021, a group of retail investors from the Reddit forum r/WallStreetBets (and the spinoff called r/WallStreetSilver) set their sights on the silver market, attempting to challenge Wall Street giants with a so-called "silver short squeeze." The silver short squeeze movement was sparked on the...
JPMorgan Is the Unlucky Owner of the Fake Nickel Uncovered by the Lme—Really Just Bags of RocksMar 21, 2023 - 12:48:45 PDT
It's the second scandal involving fake nickel in as many months.
The first is that this crisis isn’t going away anytime soon - it may shape-shift, but it’s not going away. The second is that the outcome of this crisis is going to be unlike anything that’s ever occurred in history.
The next logical step is for the government to insure all bank deposits, which is tantamount to nationalizing the entire banking system. But to what end?
The Banking Crisis Is Young Yet – Brace for a Long Hot Summer of Financial AccidentsMar 21, 2023 - 12:00:28 PDT
Swiss regulators have tossed nitroglycerin onto the global financial fire. They have also committed shameless expropriation. So much for the safety of Zurich.
The billionaire urges the federal government to guarantee all deposits in order to stop bank runs.
The Federal Reserve shouldn’t raise its benchmark rate this week, Pershing Square’s Bill Ackman said, arguing that the banking crisis has already had the effect of a “meaningful tightening of financial conditions.”
Banks’ riskiest bonds advanced globally on Tuesday after panic subsided, and investors heeded regulators’ assurances that the wipeout in Credit Suisse Group AG’s Additional Tier 1 notes wouldn’t happen in their jurisdictions under similar circumstances.
Mar 21, 2023 - 11:36:58 PDT
I feel like I am watching the Star Trek original series episode “The Doomsday Machine” as former Fed Chair and current US Treasury Secretary effectively just guaranteed ALL US bank depo…
Rising rates and slowing economies pose a crisis risk. This is given high global leverage built up over years of loose monetary setting, it says.
House conservatives are pushing a plan to guarantee payments to U.S. debt holders — including some foreign nations — while freezing out nearly every domestic obligation.
Mar 21, 2023 - 08:12:23 PDT
In the past week, the Fed’s financial statement shows it borrowed an additional $143 billion to fund the FDIC’s bailout of Silicon Valley Bank (SVB) and Signature Bank.
UK Government Debt Reaches 99.2PC of GDP as Borrowing Hits February RecordMar 21, 2023 - 08:11:00 PDT
Chancellor Jeremy Hunt said: “Borrowing is still high because we're determined to support households and businesses with rising prices and are spending about £1,500 per household to pay just under half of people's energy bills this winter.
Congress' end-of-year rush to fund the federal government has become the norm.
"There are, undoubtedly, still other unwise government interventions that I would wish to eliminate, but that I would also not willingly push a button to eliminate immediately. But there are buttons I would push." ~ Donald J. Boudreaux
A lot has happened during the last six weeks. Rising interest rates. The second and third-largest bank failures in U.S. history. Technology industry layoffs.
Just Imagine Headlines Like: "Banks Brought To Their Knees By Rate Hikes, Face Unrepentant Fed Which Hiked Again"Mar 21, 2023 - 07:31:17 PDT
We used to have winter storms, sometimes even Nor’easters, but now we get polar vortex or other more ominous sounding things. Maybe this current banking “crisis” is behind us? At least for now.
Mar 21, 2023 - 07:29:37 PDT
The good news? US existing home sales SOARED in February. Up 14.5% MoM in February to 4.58 million units SAAR sold. The bad news? On a year-over-year basis, existing home sales plunged -22.64%.