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The US Banking System Is Sound?
The US Banking System Is Sound? Treasury Secretary Janet Yellen keeps insisting that the banking system is “sound.” Is it though? Because it doesn’t look particularly sound. In fact, we just witnessed the second-largest US bank failure ever. Government regulators seized control of First Republic Bank over the weekend and sold the majority of the […]
Peter Schiff: Bank Bailouts Will Devalue the Dollar
Peter Schiff: Bank Bailouts Will Devalue the Dollar MARCH 28, 2023 BY SCHIFFGOLD 0 0 Peter Schiff appeared on NTD News to talk about the bank bailout and the March Federal Reserve meeting. During the conversation, Peter explained that everybody is going to pay for these bailouts because they will ultimately devalue the dollar as inflation skyrockets. During his press conference after […]
Charles Hugh Smith: The System Will Fall Apart
Charles Hugh Smith: The System Will Fall Apart
Markets Next “Minsky Moment”
Technically Speaking: The Markets Next “Minsky Moment” In this past weekend’s newsletter, I discussed the issue of the markets next “Minsky Moment.” Today, I want to expand on that analysis to discuss how the Fed’s drive to create “stability” eventually creates “instability.” In 2007, I was at a conference where Paul McCulley, who was with PIMCO at the time, discussed the idea […]
Fed Drains $485 Billion in Liquidity from Market via Reverse Repos, Undoing 4 Months of QE, Even as QE Continues, Total Assets Near $8 Trillion
Fed Drains $485 Billion in Liquidity from Market via Reverse Repos, Undoing 4 Months of QE, Even as QE Continues, Total Assets Near $8 Trillion It’s a crazy situation the Fed backed into as tsunami of liquidity goes haywire, banking system strains under $4 trillion in reserves, and General Treasury Account gets drawn down. This […]
Fed Drains $351 Billion in Liquidity from Market via Reverse Repos, as Banking System Creaks under Mountain of Reserves
Fed Drains $351 Billion in Liquidity from Market via Reverse Repos, as Banking System Creaks under Mountain of Reserves This is the first time I’ve seen Wall Street banks clamor for the Fed to back off QE. The Fed is struggling to keep the liquidity it created from going haywire. In the fall of 2019, […]
Repocalypse: The Second Coming
Repocalypse: The Second Coming This little monster that feeds beneath the surface of global banking at its core briefly raised one ugly eye out of the water as 2018 turned into 2019. I wrote back then that the interest spike we saw in the kind of overnight interbank lending known as repurchase agreements (repos) was […]
Monetary Looting
Monetary Looting The United States has historically bragged about its free and transparent markets. But what the Fed is doing today is pulling a dark curtain around the financing of this so-called free and transparent market. The public has no idea which Wall Street firms have received this $3 trillion or why they can’t borrow […]
When It Becomes Serious You Have To Lie: Update On The Repo Fiasco
When It Becomes Serious You Have To Lie: Update On The Repo Fiasco Occasionally, problems reveal themselves gradually. A water stain on the ceiling is potentially evidence of a much larger problem. Painting over the stain will temporarily relieve the unsightly condition, but in time, the water stain will return. This is analogous to a […]
The Battle of the ‘Flations has Begun
The Battle of the ‘Flations has Begun Inflation? Deflation? Stagflation? Consecutively? Concurrently?… or from a great height (apologies to Tom Stoppard). We’ve reached a pivotal moment where all of the narratives of what is actually happening have come together. And it feels confusing. But it really isn’t. The central banks have run out of room […]
The Bank’s ‘Stress’ Tests
THE BANK’S ‘STRESS’ TESTS MY REPORT ON THE BANK OF ENGLAND’S LATEST (NOVEMBER 2018) STRESS TESTS WAS PUBLISHED BY THE ADAM SMITH INSTITUTE ON AUGUST 3RD. The purpose of the stress tests is, in essence, to persuade us that the banking system is in good shape on the basis of a make-believe exercise which purports to show what might […]
As China’s Banking System Freezes, SHIBOR Tumbles To Lowest In A Decade
As China’s Banking System Freezes, SHIBOR Tumbles To Lowest In A Decade One trading day after we reported that China was “Hit By “Significant Banking Stress” as SHIBOR tumbled to recession levels, and less than a week after we warned that China’s interbank market was freezing up in the aftermath of the Baoshang Bank collapse and subsequent seizure, which […]
International Monetary Fund: Storm Clouds Of The Next Financial Crisis Are Gathering
International Monetary Fund: Storm Clouds Of The Next Financial Crisis Are Gathering The International Monetary Fund is sounding the alarms of another global crisis. IMF is warning that the storm clouds are currently gathering for another financial crisis. According to a report by The Guardian, David Lipton, the first deputy managing director of the IMF, […]
