Daily Dispatches

From The New York Sun
Monday, August 21, 2023

Communist China's struggle to shore up its yuan as it contends with a growing meltdown in its housing markets is a reminder, as it was during America's borrowing ceiling debacle, that today's debt crises are intertwined with a monetary crisis.

 This is a "moment of reckoning," says Zhou Xin of the South China Morning Post, as the bubble caused by the "monetization" of China's real estate market looks to be popping.

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By Alasdair Macleod
GoldMoney, Toronto
Monday, August 21, 2023

Globally, further falls in consumer price inflation are now unlikely and there are yet further interest rate increases to come. Bond yields are already on the rise, and a new phase of a banking crisis will be triggered.

This article looks at the factors that have come together to drive interest rates higher, destabilising the entire global banking system. The contraction of bank credit is in its early stages, and that alone will push up interest costs for borrowers. 

8:54p ET Friday, August 18, 2023

Dear Friend of GATA and Gold:

Since there does not seem to have been much news or commentary about gold and silver worth bothering you with for a few days and you might think that GATA was falling asleep at the switch or giving up, maybe you will tolerate some brief commentary from your secretary/treasurer.

By Hugh Son
CNBC, New York
Tuesday, August 15, 2023

A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence -- the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase.

The ratings agency cut its assessment of the industry's health in June, a move that analyst Chris Wolfe said went largely unnoticed because it didn't trigger downgrades on banks.

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