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Daily Dispatches
Pam and Russ Martens: JPMorgan Chase's high-risk footprint, and the failed 'rescue' of First Republic
Submitted by admin on Fri, 2023-03-17 12:03 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Friday, March 17, 2023
At 6:33 a.m. this morning, this big, bold headline appeared at the very top of Bloomberg News web page: "How Dimon and Yellen Helped Secure $30 Billion Lifeline for First Republic."
This headline is part of a very long, highly questionable promotion of Jamie Dimon by Bloomberg News as the wunderkind of Wall Street banking.
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Alasdair Macleod: To rescue markets, pivoting Fed will wreck dollar
Submitted by admin on Thu, 2023-03-16 12:24 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, March 16, 2023
Following the day-to-day twists and turns of a banking crisis can make us lose sight of the bigger picture. It is tempting to think that the banking authorities are in control and will secure the integrity of their commercial banking networks. Unfolding events may or may not prove this to be true.
Pam and Russ Martens: The next bomb to go off in the banking crisis will be derivatives
Submitted by admin on Thu, 2023-03-16 11:19 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, March 16, 2023
U.S. Treasury Secretary Janet Yellen finds herself in a very dubious position.
Craig Hemke at Sprott Money: As the economy heads south, gold heads north
Submitted by admin on Wed, 2023-03-15 20:52 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Wednesday, March 15, 2023
The biggest story of 2023 is not a function of IF the Fed will pause and then pivot to rate cuts. Instead, it's a matter of WHEN will this shift take place. This monetary policy change is coming, and it's actually much closer than you think.
Signature Bank execs starred in cringey Broadway-style musical video
Submitted by admin on Wed, 2023-03-15 17:18 Section: Daily DispatchesBy Ariel Zilber
New York Post
Tuesday, March 14, 2023
Executives at the doomed Signature Bank produced a Broadway-style musical video to launch the firm in the early 2000s -- and its song branded the bank "the stupidest idea I ever heard" and even quipped that it could "diminish and fail."
Clips of the musical number -- now dripping with irony after regulators stepped in over the weekend and took control of the New York-based firm in a bid to stave off a US banking crisis -- resurfaced online and went viral this week. ...
Swiss government ready to rescue Credit Suisse
Submitted by admin on Wed, 2023-03-15 17:04 Section: Daily DispatchesLooks like the Swiss banking system is strong too.
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Credit Suisse to Get Liquidity Backstop if Needed, Swiss National Bank Says
By Hugo Miller and Bastian Benrath
Bloomberg News
Wednesday, March 15, 2023
Switzerland's central bank and financial regulator said Credit Suisse Group AG will receive a liquidity backstop if needed, in a show of support aimed at restoring confidence in the troubled lender after its shares slumped by a record amount.
Former Wells Fargo executive faces prison, $17 million fine over fake accounts scandal
Submitted by admin on Wed, 2023-03-15 16:48 Section: Daily DispatchesThe U.S. banking system is strong -- strongly corrupt.
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By Chris Prentice and Pete Schroeder
Reuters
via Yahoo Finance, Sunnyvale, California
Wednesday, March 15, 2023
WASHINGTON -- The former head of Wells Fargo's retail bank is facing prison time after pleading guilty to obstructing a bank examination in relation to the sweeping phony accounts scandal that roiled the bank in 2016.
Jim Rickards: The Fed finally broke something, so keep your eye on gold
Submitted by admin on Wed, 2023-03-15 13:30 Section: Daily DispatchesBy James Rickards
Daily Reckoning, Baltimore
Tuesday, March 14, 2023
It's often said that the Fed raises interest rates until something breaks. Well, something has broken.
The collapse of Silicon Valley Bank has really thrown Jay Powell and the Fed for a loop.
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USA Gold: Coins and Bullion Since 1973
Irreverent Aussies nailed today's central banking -- back in 2008
Submitted by admin on Wed, 2023-03-15 13:07 Section: Daily Dispatches1:10p ET Wednesday, March 15, 2023
Dear Friend of GATA and Gold:
With Western central bankers scurrying madly to prevent the toppling of the financial system they have driven insane, this may be a good time to recall the brilliant 3 1/2-minute parody of central banking that was broadcast in 2008 by the weekly television comedy program in Australia, "Newstopia."
Credit Suisse appeals to Swiss central bank for support
Submitted by admin on Wed, 2023-03-15 12:32 Section: Daily DispatchesBy Owen Walker and Stephen Morris
Financial Times
Wednesday, March 15, 2023
Credit Suisse has appealed to the Swiss National Bank for a public show of support after its shares cratered as much as 30%, sparking a broader selloff in European and U.S. bank stocks.
The request for a reassuring statement about Credit Suisse's financial health came after its shares sank as low as SF1.56, having earlier been halted amid a heavy selloff, according to three people with knowledge of the talks.
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