Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
. . . Prior to the recent asset declines all US banks had positive bank capitalization. However, after the recent decrease in value of bank assets, 2,315 banks accounting for $11 trillion of aggregate assets have negative capitalization. This calculation underscores that recent declines in bank asset values significantly decreased bank capitalization and bank insolvency risk.
Credit Suisse Shares Fall to All-Time Low: Wall Street Expert Predicted It Would Be the Next to FallMar 14, 2023 - 08:28:05 PDT
Credit Suisse shares fell by 5 percent in early trading on Tuesday to an all-time low, hours after the bank revealed it had found 'material weaknesses' and recorded an $8billion loss in its 2022 annual report.
Moody’s Cuts Outlook on U.S. Banking System to Negative, Citing ‘Rapidly Deteriorating Operating EnvMar 14, 2023 - 08:03:44 PDT
In a harsh blow to an already-reeling sector, Moody's Investors Service on Monday cut its view on the entire banking system to negative from stable.
My guess is that we will now see the Great Unwinding of the great Fictitious Capital boom of 2008-2015. So the chickens are coming hope to roost – with the “chicken” being, perhaps, the elephantine overhang of derivatives fueled by the post-2008 loosening of financial regulation and risk analysis.
Mar 14, 2023 - 07:16:31 PDT
"The ESG industry shows no signs of slowing down, and initiatives seem to be ramping up on a global scale. As such, it is worth considering how we got here, who is in charge, and what lies ahead." ~ Kimberlee Josephson
Growth of the grid almost always means higher prices for utility customers, but what happens when those higher electricity prices are accompanied by increasingly degraded service levels?
America’s $620 Billion Ticking Time Bomb: FDIC Reveals Extraordinary Amount of ‘Unrealized LossesMar 14, 2023 - 07:13:47 PDT
Martin Gruenberg, chair of the Federal Deposit Insurance Corporation (FDIC), warned four days before Silicon Valley Bank's collapse that there was a ticking time bomb inside many banks.
Now, banks do fail from time to time. But these circumstances are eerily similar to 2008… though the reality is much worse. I’ll explain:
A sign of things to come as debt deflation takes hold. All of a sudden, banks are in the spotlight. The collapse of Silvergate, the crypto bank, has coincided with a good-old fashioned bank run on Silicon Valley bank (SVB). T
As Statista's Katharina Buchholz reports, after a period of progress and decline, the U.S. homeless population has increased slightly in 2020 and 2022, according to a report from the Department of Housing and Urban Development. The 2021 numbers were affected by shelters lowering capacity due to the Covid-19 pandemic during the count that takes places in the first month(s) of every year.
"Much like the contrived economic arguments behind the wealth tax, its legal arguments are a result of politically motivated reasoning to bring about a new tax system that the Constitution prohibits." ~ Phillip W. Magness
Allowing banks to fail may sound extreme, but it’s really the most reasonable solution. It’s true there will be some costs if the banks fail. Any time a business fails, other investors tied financially to the company lose. But here’s the rub—people who invest in bad businesses should lose. SVB’s failure is a reflection of the fact that it was a wealth shredder.
Free Money = Toxic Money: First Republic Bank and Western Alliance Bank Make it into my Pantheon of Imploded StocksMar 14, 2023 - 07:03:36 PDT
Banks as stock-pump schemes in the era of consensual hallucination.
Here's my Hoot of the Day: Barney Frank Blames Crypto, Elizabeth Warren Blames Trump
What is a bank run and are recent events likely just the first suggesting the Fed has "broken something" in the financial system?
Gold prices eased on Tuesday, pausing their sharp rally driven by the U.S. banking crisis, as the dollar rebounded, while traders positioned for inflation data that could also influence the Federal Reserve's interest rate strategy.
Policymakers who had been raising rates now must factor in a new risk of financial instability.
Shelter Inflation Hits Record High As Americans' Real Wages Drop For 32nd Straight MonthMar 14, 2023 - 06:05:21 PDT
After January's disappointing 'stall' in the linear demise of inflation, consensus expectations were for a re-acceleration of the YoY decline in headline CPI (from 6.4% to 6.0%), and the actual print came in right on expectations (+0.4% MoM, +6.0% YoY). That is the lowest YoY CPI since Sept 2021...
Senator Warren Calls For Powell's Recusal From Fed's Bank Failure InvestigationMar 14, 2023 - 06:04:39 PDT
Senator Elizabeth Warren tweeted Tuesday morning that Federal Reserve Chairman Jerome Powell "must recuse himself" from the Fed's investigation into the demise of Silicon Valley Bank.
The Treasury market is signaling that a recession is all but inevitable, if history is any guide.