Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Mar 20, 2023 - 07:20:55 PDT
Yesterday, the Swiss banking giant, UBS, agreed to a shotgun wedding with its collapsing long-time Swiss rival, Credit Suisse. Switzerland has committed $173 billion in loans and guarantees to the combined firm.
The simplest thing that can be said about current financial market and banking conditions is this: the unwinding of this Fed-induced, yield-seeking speculative bubble is proceeding as one would expect, and it’s not over by a longshot.
On Sunday, March 12, regulators shut down the Signature Bank. They reason they gave for doing this is incredible. They said that the entire financial system night collapse if they didn’t. What kind of insane system is it in which a run on one bank can cause such a disaster? The crisis shows once more that the great Murray Rothbard was right. We need to end the Fed and fractiona...
Global use of the US dollar as a currency may decline further to 40-45% within the next 2-3 years. March 2023 brought an economic bloodbath in the United
Good friend Chuck Butler, editor of The Daily Pfennig, is a world currency expert. He constantly asks, “Got Gold?”
In the first part of this report, we highlighted that observed gold prices have significantly detached from our model-predicted prices. While this has happened in the past, prices always converged eventually. However, the delta between the observed and the model predicted price has now reached a record high of around $400/ozt. We thus ask ourselves whether it is reasonable to...
This is the first of a series of exclusive presentations that will help you easily understand the banking crisis, as well as what may be coming next.
\Gold steadied, after rising above $2,000 an ounce for the first time in a year after a deal to buy Credit Suisse Group AG failed to entirely ease fears over the global banking sector.
Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes.
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS , angering bondholders on Sunday.
All sorts of crises have been predicted by financial Cassandras in the aftermath of 2008. In reality, they’re exceedingly rare in markets. And yet, with three US banks down, a fourth teetering and the government-brokered acquisition of a fifth — and much larger — institution in Europe, the comparisons to that episode have become a little harder to ignore.
Federal Reserve and Global Central Banks Act to Shore Up Dollar Access: NYTMar 20, 2023 - 06:00:43 PDT
America’s central bank and its counterparts around the world are rushing to cushion markets against the impact of bank problems.
A banking crisis in a matter of days has emerged to potentially choke off a red-hot economy, raising the odds of a recession that the Federal Reserve has been working to avoid.
The lightning speed at which the banking industry descended into turmoil has shaken global markets and governments, reviving eerie memories of the financial crisis. Like 2008, the effects may be long lasting.
Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks .
Borrowing could become tougher, a particular blow to small businesses — and a threat to the recovery’s staying power.
Silicon Valley Bank was a center of gravity in the tech industry. Its bankers understood technology and were eager to support unproven companies.
The failures of Silicon Valley Bank and Signature Bank SBNY -22.87% as well as questions about First Republic Bank’s FRC -32.80% future have cast a sudden pall on the banking sector. An emerging concern is that customers at community and regional banks, worrying that their deposits aren’t safe, might pull their money, putting it into money-market funds or accounts at bigger banks.
It is far easier to hold off political pressures in an era where global interest rate and price pressures are pushing downwards. Not anymore. Those days are over and things are going to get harder for the Fed. The trade-offs it faces next week might only be the start.
Fed Poised to Approve Quarter-Point Rate Hike This Week, Despite Market TurmoilMar 20, 2023 - 05:43:28 PDT
Chairman Jerome Powell and his fellow central bankers will want to signal that it's important to continue the fight to bring down inflation.