You are here
Daily Dispatches
Pam and Russ Martens: The three large banks that blew up were not on the FDIC's problem list
Submitted by admin on Mon, 2023-06-05 11:26 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, June 5, 2023
The second, third, and fourth largest bank failures in U.S. history occurred this year. And yet none of the banks that blew up were on the "Problem Bank List" that is prepared quarterly by the federal bank regulator that is supposed to be on top of these things -- the Federal Deposit Insurance Corp.
When the FDIC released its quarterly Problem Bank List for the quarter ending December 31, 2022, it showed just 39 banks were a problem with combined assets of a meager $47.5 billion.
A $1.5 trillion backstop for homebuyers props up banks instead
Submitted by admin on Mon, 2023-06-05 10:22 Section: Daily DispatchesThe Federal Home Loan Bank system provides billions to banks curtailing mortgage lending, and millions to its executives
By Heather Perlberg, Ann Choi, and Noah Buhayar
Bloomberg Business Week
Sunday, June 4, 2023
The first sign of deep trouble in U.S. banking this year came from a sunbaked office complex in a San Diego suburb. There, a small firm called Silvergate Capital Corp. assured investors it was weathering a run on deposits. Its lifeline: about $4.3 billion from a Federal Home Loan Bank.
Heads turned across the financial industry.
The Fed's interest rate strategy is getting tricky as plans to skip a hike emerge
Submitted by admin on Mon, 2023-06-05 10:14 Section: Daily DispatchesBy Craig Torres
Bloomberg News
Monday, June 5, 2023
The Federal Reserve’s June meeting is shaping up to be one of the trickiest in its 15-month campaign to tame inflation: Chair Jerome Powell seems intent on skipping an interest-rate increase, while explaining to the public that officials aren’t done yet.
The strategy is sensible, confusing, and risky all at once, Fed watchers say.
... Dispatch continues below ...
... ADVERTISEMENT ...
Robert Lambourne: BIS gold swaps held steady through April and are probably intervention by Fed
Submitted by admin on Sun, 2023-06-04 15:25 Section: Daily DispatchesBy Robert Lambourne
Sunday, June 4, 2023
From the information contained in the recently published March 31 and April 30 statements of account of the Bank for International Settlements --
Best currency in Argentina amid 100% inflation may be Taylor Swift tickets
Submitted by admin on Sun, 2023-06-04 09:45 Section: Daily DispatchesNo central bank price-suppression operation is underway in that respect.
* * *
Taylor Swift Argentina tickets are a bargain with inflation over 100%
By Patrick Gillespie and Augusta Saraiva
Bloomberg News
Friday, June 2, 2023
Taylor Swift tickets may cost a fortune in the United States, but 100% inflation in Argentina is about to make her highly coveted concert a world-class bargain.
China facilitates gold acquisition by its people to guard against U.S. sanctions, Maguire says
Submitted by admin on Fri, 2023-06-02 23:15 Section: Daily Dispatches11:10p ET Friday, June 2, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire tells Kinesis Money's "Live from the Vault" program this week that China has modified its domestic banking system to facilitate gold and silver purchases by the country's population so that people may protect themselves against the threat of U.S. economic sanctions.
Ronan Manly: Singapore's central bank is big -- and secretive -- gold buyer
Submitted by admin on Fri, 2023-06-02 09:29 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Friday, June 2, 2023
Last year a major theme in the global gold market was the record gold buying by central banks across the world, with the World Gold Council and its data gatherers (Metals Focus) calculating that central banks had cumulatively purchased a net 1,136 tonnes of monetary gold during 2022.
At the outset of 2023, this led the World Gold Council to predict that:
Backlash against weaponized dollar is growing across the world
Submitted by admin on Fri, 2023-06-02 09:15 Section: Daily DispatchesMichelle Jamrisko and Ruth Carson
Bloomberg News
via Yahoo News, Sunnyvale, California
Friday, June 2, 2023
All around the world, a backlash is brewing against the hegemony of the US dollar.
Brazil and China recently struck a deal to settle trade in their local currencies, seeking to bypass the greenback in the process. India and Malaysia in April signed an accord to ramp up usage of the rupee in cross-border business. Even perennial US ally France is starting to complete transactions in yuan.
... Dispatch continues below ...
Alasdair Macleod: Sterling crisis ahead!
Submitted by admin on Thu, 2023-06-01 21:21 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, June 1, 2023
This article points to the factors driving sterling gilt yields higher. They are likely to lead to a sterling crisis as foreign selling gathers pace of gilts acquired since 2018.
Before interest rates began to rise, foreign buyers had enjoyed higher gilt prices which more than offset losses on sterling. That is no longer the case.
... Dispatch continues below ...
... ADVERTISEMENT ...
Fed signal for pause in rate hikes takes pressure off hot jobs report
Submitted by admin on Thu, 2023-06-01 10:02 Section: Daily DispatchesBy Steve Matthews
Bloomberg News
Thursday, June 1, 2023
Federal Reserve officials are signaling that they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report.
Governor Philip Jefferson, a centrist who is nominated to be vice chair and who often echoes Chair Jerome Powell's views, said Wednesday that skipping an increase would give policymakers time to assess data but not preclude future tightening.
... Dispatch continues below ...
Pages
