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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.
FDIC Announces Agreement to Sell Signature Bank Assets to New York Community Bancorp SubsidiaryMar 20, 2023 - 05:42:26 PDT
Flagstar Bank, the subsidiary, will assume substantially all deposits and certain loan portfolios, and all 40 of Signature Bank's former branches.
Elizabeth Warren Says Jerome Powell Has ‘Failed’ as Federal Reserve ChairMar 20, 2023 - 05:41:21 PDT
"I don’t think he should be chairman of the Federal Reserve," the Massachusetts Democrat said in an interview on NBC News' "Meet the Press."
S&P reduced its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week. The rating remains on CreditWatch Negative, said S&P.
Investors Say Banking Crisis Far From Over Even After UBS’s Credit Suisse DealMar 20, 2023 - 05:36:30 PDT
The early calm in Asian markets on Monday quickly gave way to fresh jitters about the outlook for the global financial system, and investors and strategists are bracing for further tumult.
Demand for some of the world’s safest securities surged after a government-brokered rescue deal of Credit Suisse Group AG failed to assuage concerns that stress in the banking system could spread.
The case for the Federal Reserve to forgo an interest-rate hike strengthened in the eyes of some central bank watchers following a coordinated global move to ease growing financial strains.
Fed Panics, Announces "Coordinated" Daily US Dollar Swap Lines To Ease Banking CrisisMar 20, 2023 - 05:32:03 PDT
"The market stops panicking when central banks start panicking" In January 2022, just around the time the Fed announced it was launching its most aggressive tightening campaign since Volcker, we warned "remember, every Fed tightening cycle ends in disaster and then, much more Fed easing"
UBS (UBSN SW) is to acquire Credit Suisse (CSGN SW) for a total consideration of CHF 3bln; Credit Suisse’s additional tier 1 capital in the aggregate nominal amount of around CHF 16bln will be written off.
Global Markets-Scramble for Safety Subsides as Markets Digest Credit Suisse RescueMar 20, 2023 - 05:27:31 PDT
Europe's bank shares fought back from an early slump on Monday and a cross-asset scramble for safety looked to have eased, as markets weighed up the implications of the emergency rescue of banking heavyweight Credit Suisse for the financial system. Sunday saw the most dramatic state intervention since the 2008 global financial crisis, with UBS buying Credit Suisse for 3 billion...
Peter Schiff recently appeared on Brighteon.com with Mike Adams to talk about the failure of SVB and Signature Bank, the bailouts and the potential ramifications. During the interview, Peter explained the difference between SchiffGold and a lot of the other gold companies out there.
The Federal Reserve added nearly $300 billion to its balance sheet in a single week as it kicked off its loan bailout program for banks.In effect, the Fed loaned troubled banks $300 billion of new money that was created out of thin air.In other words, we got $300 billion in inflation in a single week.
Peter Schiff appeared on the Capitol Report on NTD News to talk about the bank bailouts and the possible ramifications. He said that no matter what President Joe Biden and others tell you, Americans are going to pay for this.The interview started with a clip of Treasury Secretary Janet Yellen assuring Congress that the banking system is safe. So, should we feel confident in our banking system?
TOM CLOUD PRECIOUS METALS UPDATE MAR 20th: Investors Move Into Precious Metals As Insurance Against Banking CrisisMarch 20, 2023
In Tom's most recent precious metals update, he explains why precious metals are the best forms of insurance during a massive banking and financial crisis. The Big Positive about having gold insurance, is that if you don't use it, you still get most (or more at times) the value of your premium back...
Gold had a big rally last week. But is it sustainable? What are the technicals saying?The data over the last several months continues to give insight into the market. November showed the market was in neutral, but then the December analysis correctly identified an impending move upwards, the January review called for a correction and then February concluded:
PRECIOUS METALS & BANKING CRISIS UPDATE MAR 19th: Key Fundamentals Why This Time Is DifferentMarch 19, 2023
While the Fed is trying to solve the banking crisis by providing liquidity, the bigger problem in front of us, can't be solved with money printing. Also, the next major shoe to drop may be in the massive Shadow Banking System. I explain the details in this week's Metals & Banking Crisis Update...
"I think gold is a good long-term hold, gold and other real assets with true value, such as land, gold and collectibles."