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POSTED ON December 1, 2023  - POSTED IN Friday Gold Wrap

Imagine a bedroom. It looks clean and safe, but there is a monster under the bed that nobody notices. As host Mike Maharrey explains in this episode of the Friday Gold Wrap, that’s basically the condition of the US banking system right now. It appears “sound,” but a closer look reveals a financial crisis is still bubbling under the surface. He also talks about the recent run-up in the price of gold.

POSTED ON November 30, 2023  - POSTED IN Key Gold Headlines

Unrealized losses on securities held by US banks exploded by 22% in the third quarter.

Of course, unrealized losses don’t really matter — until they do.

This is yet more evidence that the financial crisis that kicked off last March continues to bubble under the surface.

POSTED ON October 30, 2023  - POSTED IN Peter's Podcast

The mainstream remains optimistic about the trajectory of the economy. Price inflation has supposedly been beaten down. GDP growth was even better than expected, and most economists have tabled their recession predictions. But in his podcast, Peter Schiff explained that it’s all an illusion. The financial crisis has already started, and it continues to play out beneath the radar.

Nobody understands that this crisis has started. But believe me, it has. This was the way the 2008 financial crisis started. It didn’t just happen when Lehman Brothers went bankrupt.”

POSTED ON October 19, 2023  - POSTED IN Key Gold Headlines

Problems in the commercial real estate  (CRE) sector continue to bubble under the surface. This is a major stress point for US banks and could precipitate the next phase of the financial crisis.

A combination of high interest rates and declining tenancy is putting the squeeze on commercial real estate owners. As a result, banks hold a growing portfolio of delinquent CRE loans.

POSTED ON September 1, 2023  - POSTED IN Market Brief

In the last few days, gold and silver have paused their earlier rises. In the case of silver, these have been substantial, as shown in our headline chart. In gold, less so; but it does appear that silver is leading both metals higher. In European trade Friday morning, gold was $1944, up $39 on the week, and silver $24.60, up 40 cents. Silver is up 10% from its mid-August low, leading gold which is up only 3%.

POSTED ON August 23, 2023  - POSTED IN Key Gold Headlines

The financial crisis precipitated by rising interest rates continues to bubble under the surface.

Earlier this month, Moody’s cut the credit rating of 10 small and midsize banks. It also placed six large banks on review for potential downgrades and revised 11 more banks from a stable outlook to a negative outlook.

This week, S&P Global followed Moody’s lead and downgraded the credit ratings of five banks. It also lowered the outlook for several others

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