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\US equity-index futures slipped on Friday and Treasuries gained, capping a tumultuous week for global markets with another risk-off turn amid concern that the financial turmoil which has roiled bonds and stocks is not over.\
Friday gold wrap host Mike Maharrey has been saying something is going to break in the economy for months due to the Federal Reserve's monetary tightening to fight price inflation. Last Friday, something broke when Silicon Valley Bank collapsed followed quickly by the demise of Signature Bank. It was the first crack in the dam. The Fed rushed in to plug the leak, but was it enough? In this episode of the podcast, Mike talks about the response to these bank failures and the possible ramifications.
While the Fed and central banks are trying to Paper over this current Banking Crisis 2.0, this time is indeed different. I will be doing a very Important Precious Metals & Banking Report this weekend, so look out for it. However, these are three crucial charts to show why this banking crisis is different...
The Texas Senate has proposed a bill that aims to recognize gold and silver as currency rather than commodities, which could potentially challenge the Federal Reserve's control over the monetary system if approved.
The Australian dollar gold price hit an all-time record of A$2874 per ounce overnight, exceeding the previous high of A$2868 per ounce recorded on 6 August 2020, according to Melbourne-based gold mining consultants Surbiton Associates.
Gold prices edged higher on Thursday, bouncing towards last session's 1-1/2 month peak as concerns about the banking crisis continue after the European Central Bank hiked interest rates despite the ongoing financial stability risks.
Gold Market, Prices May Be Telling Investors It’s ‘the Beginning of a Broader Crisis’: ETF ExpertMar 16, 2023 - 12:56:54 PDT
GraniteShares Founder and CEO Will Rhind joins Yahoo Finance Live to discuss the state of the gold market.
Mar 16, 2023 - 12:54:20 PDT
Spain’s government has authorized funds for the production of a new series of gold bullion coins to meet the rising demand for these products. The Spanish National Coin Factory will acquire 40 million euros worth of top-quality gold pieces, which is a significantly larger amount of gold than the previous coin series.
Big Banks Agree To Historic $30 Billion Unsecured Deposit Injection In First Republic BankMar 16, 2023 - 12:42:26 PDT
So Big Banks are now parking their excess reserves/cash at Small Banks in a costless bailout funded by the Fed. Remember: Big Banks still have lots of reserves left; Small Banks are reserve constrained
"This Is Sheer Idiocy": Capital Gains Tax Can Exceed 100 Percent Under Biden ProposalMar 16, 2023 - 12:09:10 PDT
President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to estimates by economist Arthur Laffer, a former adviser to Ronald Reagan. The increase would more than double the tax investors pay on investments held longer than one year.
It's popular for politicians to claim they will never cut Social Security. But doing nothing now about the program means imposing an even larger hit on seniors in the future.
There's nothing like a bank failure to get people thinking about the banking system. And though it appears the Fed has bought the nation's banks some time, the pair of bank runs on Friday and Sunday again exposed the fragility of the nation's banks. But fragility isn't the only problem. As Rothbard hammered home decades ago, our banking system relies on a deceptive scheme...
We can also predict that the next round of instability will be more severe than the previous bout of instability.
The Treasury secretary said U.S. banks are “sound” but that regulators feared the collapse of Silicon Valley Bank could have led to other runs.
This brief article will explain why the world’s banking system is unsound, and what differentiates a sound from an unsound bank....
'Time Is Not Our Friend': Solvency & Liquidity Meet Liquency & SolvidityMar 16, 2023 - 08:54:53 PDT
We are hearing a lot about Liquidity and Solvency right now. Often people talk about them as though they are two different things. That can be true at times, but in many cases, there is a complex relationship between the two. That is particularly true for financial companies and banks, which is where this discussion is centered.
"Beyond tired class warfare rhetoric and anti-competitive measures, the Biden administration is attempting to increase not only the size of the state (through more taxing and spending), but also the scope of the state, through misguided commercial and industrial policy." ~ Nikolai G. Wenzel
Mar 16, 2023 - 08:14:33 PDT
Between Biden’s energy policies and massive spending by Biden/Congress, we are seeing the raging effects of inflation on the economy.
Mar 16, 2023 - 08:07:53 PDT
Inflation is projected to remain too high for too long. Therefore, the Governing Council today decided to increase the three key ECB interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to the 2% medium-term target. The elevated level of uncertainty reinforces the importance of a data-dependent approach to the Governing...
The house is missing just one crucial thing: a buyer. In an effort to lure one, the developers relisted the house for $59 million last month, a 41% reduction from its $100 million price tag in 2018. Sellers are slashing prices for the area’s ultraluxury properties amid a broader slowdown, citing an impending new mansion tax and proposed restrictions on new construction.