Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. Most of these items are from JWR’s “tangibles heavy” contrarian perspective. Today, we look at some gains for precious metals in Dollar terms, and the Silicon Valley Bank crash.
Precious Metals:
Reported on Friday: Price gains in gold, silver on short covering, friendly outside markets.
And at the opening bell in Asia this morning, both gold and silver rose even more.
o o o
Kansas Bill Would Make Gold and Silver Legal Tender While Pushing Back Against CBDC.
o o o
From precious metals analyst Neils Christensen: Inflation is a global problem as annual European core CPI rises to a record high of 5.6%.
Economy & Finance:
Friday P.M. Update:
Silicon Valley Bank Shares Halted After Plunge Deepens.
and,
300 Billion Reasons Why SVB Contagion Is Spreading To The Broader Banking System. JWR’s Comment: If your bank has a lot of Mortgage Backed Securities (MBS) exposure, then it might be a good time to draw your balance down below $1,000.
And in related news: NYPD called to Silicon Valley Bank branch as depositors attempt to pull cash: report.
Bloomberg: How a Bank Run Closed SVB and Where That Could Lead.
o o o
SurvivalBlog reader C.B. spotted this: Spending shocker: CBO’s latest debt projection should stun even Washington.
“A rapidly growing portion of what Washington terms ‘mandatory spending’ is interest on the federal debt.”
o o o
I found this piece from Fortune linked over at the Whatfinger.com news aggregation site: Citigroup cuts hundreds of jobs weeks after JPMorgan Chase and Goldman Sachs announce layoffs.
o o o
Two times in 30 years the 2-year treasury stayed below $102, the market crashed 50%. Buckle up. (A hat tip to H.L. for the link.)
Commodities:
Peter sent us this, from The WSJ: S.O.S for the U.S. Electric Grid.
“PJM Interconnection sounds the latest alarm that fossil-fuel plants are shutting down without adequate replacement power. The political class yawns.”
o o o
Bad Energy Decisions Contributed to Europe’s Energy Crisis.
o o o
How Russia’s War On Ukraine Is Altering Global Crude Oil Trade.
o o o
From OilPrice News: Putin’s Energy Gamble Backfires As Germany Secures Long-Term Gas Supplies.
o o o
And if you want to hear the Party Line on structured credit products, there is this, from Oaktree Capital Group: CLO Myth-Busting: The Top Three Misconceptions. JWR’s Comment: Color me Dubious Drab.
Forex & Cryptos:
Saudi Arabia’s Quandary: The End of the Petrodollar. (Thanks to Ron M. for the link.)
o o o
Three Percentage Point Central Bank Rate Hike in Pakistan.
o o o
Wolf Street reports: Crypto Bank Silvergate to Shut Down and Liquidate, after FDIC Examiners Show up. Shares Collapse Entirely.
o o o
Another piece at Currency Thoughts: New Woes for Crypto… Service Sector Purchasing Manager Surveys Beat Expectations.
o o o
Bitcoin’s Decline To $22,000 Triggers Second-Largest Liquidation Trend In 2023.
o o o
o o o
Police discovered a secret crypto-mining operation beneath a US high school.
Tangibles Investing:
Texas’s Big Ranches Are Still Selling for Big Bucks.
o o o
Top 12 Largest Ranches In The US In 2023.
o o o
Natchez Shooting & Outdoors (one of our affiliate advertisers) is running sales on some of their ammunition and primers with savings up to 53% now through March 14th.
—
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!