China Seeks to Dethrone Dollar to Corner World Energy Markets
Plan by China and Russia to replace U.S. dollar as the world’s reserve currency has had a string of recent successes, as China builds a rival monetary system.
A ‘Feel-Good’ Period Before ‘Inevitable’ US Recession: JPMorgan Investment Officer
Markets could see a rally before an inevitable downturn, said Bob Michele, the chief investment officer of JPMorgan Asset Management.
OPEC+ Pledges Major Oil Output Cuts From May to Year’s End
Saudi Arabia and OPEC+ will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices.
America’s Biggest Banks See Surge in Deposit Withdrawals
America’s 25 biggest banks saw huge $90 billion outflow of deposits, a reversal from where larger financial institutions absorbed deposits from smaller banks.
Why the Banking Crisis May Just Be Beginning
Silicon Valley Bank failed on March 10, becoming second largest bank to do so in our nation’s history and triggering panic in our banking system in the process.
Elon Musk Sounds Alarm About US Dollar: ‘Serious Issue’
Elon Musk sounded alarm about primacy of U.S. dollar as world’s reserve currency following deal between Chinese regime and Brazil to trade in own currencies.
Bank Deposit Bailouts Could Cost Taxpayers Billions
Following regional bank failures regulators were quick to guarantee all depositors for full balance of their bank accounts, even beyond $250,000 limit set by FDIC.
First Citizens Shares Soar After Announcing Deal to Buy Failed Silicon Valley Bank
The share price of First Citizens Bank has soared this week following news that it would buy much of the failed Silicon Valley Bank in the wake of its collapse.
First Citizens Buys Failed Lender Silicon Valley Bank
A buyer has been found for failed lender SVB, with 17 former branches opening under First Citizens Bank the Federal Deposit Insurance Corp. (FDIC) announced.
Citigroup CEO Says, ‘This Is Not a Credit Crisis,’ After Three US Bank Failures
Citigroup CEO Jane Fraser stated she had sound confidence in American banking system after closures caused investors to panic, sparking chaos in financial markets.
Unease Over Banking Sector Turmoil Spurs Huge Demand for Precious Metals
Coin Heaven co-owner Gabe Wright saw precious metals demand rise to new heights during pandemic, but nothing as spectacular as Silicon Valley Bank’s collapse.
Fed Hikes Rates by a Quarter Percentage Point Despite Recent Bank Failures
Federal Reserve raised interest rates by 25 basis points, lifting the benchmark federal funds rate to a range of 4.75–5.0 percent, the highest since late 2007.
