National Security Council spokesman John Kirby said Wednesday it's unclear if the US military will be able to recover the wreckage of the crashed MQ-9 Reaper drone in the Black Sea as it fell in "very deep water". But Moscow is now…
Authored by Simon White, Bloomberg macro strategist,The troubles facing Credit Suisse are enough to give the ECB cover to hike 25 instead of 50 bps at its meeting tomorrow, or not at all if CS’s situation becomes critical. But persistent inflation will…
Earlier this week, amid the deflationary panic that suddenly swept the US banking sector and in no uncertain terms, the US economy, we joked that 'by the end of this month, markets will be hoping China gets to export some of…
Via SchiffGold.com,On June 14, 2022, Peter Schiff appeared on Ingraham Angle, and he said, “Thanks to the Federal Reserve, everybody has so much debt that we can’t afford to pay an interest rate high enough to fight inflation. But it is going…
Oil prices have collapsed further this morning - after bouncing last night on API-reported product inventory drawdowns - as last night's China macro data didn't suggest a strong re-opening and Europe's banking system joining the systemic crash freight train is not…
Authored by Greg Orman via RealClearPolitics.com,Over the last 72 hours, the demise of Silicon Valley Bank has been dissected in the media. What went wrong seems perfectly clear. SVB had a deluge of short-term deposits coming into the bank during the…
Actor Ryan Reynolds has scored another hit with the sale of his budget wireless provider Mint Mobile to T-Mobile US Inc. for more than a billion dollars. On Tuesday, T-Mobile announced that it has entered into a definitive agreement to acquire Ka'ena…
Authored by Zachary Stieber via The Epoch Times (emphasis ours),A key COVID-19 vaccine case is moving to the discovery phase after a U.S. judge rejected a bid by Moderna to dismiss some of the patent infringement claims against it.Vials of Moderna's…
If the systemic risk hangover from Credit Suisse wasn't enough of a drag on US banking stocks, the news that S&P just downgraded First Republic Bank to 'junk' has accelerated the global de-risking.S&P cut First Republic Bank’s long-term issuer credit rating to…
Authored by Michael Lebowitz via RealInvestmentAdvice.com,While headlines of bank failures and bailouts consume the media, few are contemplating the economic and financial aftershocks that will follow.Hockey great Wayne Gretzky famously commented, “I skate to where the puck is going to be,…
With CPI having slapped some macro-sense back into people's minds after a week focused on SVB's fallout, this morning's PPI and Retail Sales data could further that trend - despite Credit Suisse grabbing everyone's attention today so far.Producer Prices unexpectedly soared…
Authored by Charles Hugh Smith via OfTwoMinds blog,Our faith in the wobbling world of hyper-financialization will soon be tested.It's interesting, isn't it, that amidst a tsunami of commentary about banks, nobody mentions the proverbial elephant in the room, which is the overwhelming dominance…
Just when it seemed that futures may finally be stabilizing after a week of rollercoaster moves and one day after US regional banks rebounded amid hopes that the US small bank run was easing, the bank crisis made a triumphant arrival…
The merger between Trump Media & Technology Group and Digital World Acquisition Corp., which seeks to make Trump's social media platform "Truth Social" public through a blank check company, is facing delays in obtaining regulatory approval. Bloomberg reportedly spoke with two individuals who…
Via SchiffGold.com,As we start to sort through the fallout of the failure of Silicon Valley Bank and Signature Bank and the government’s reaction to it, the next question is: what’s next?Government officials and mainstream pundits insist everything is fine now. They…
Update (1130ET): Earlier in the day, while speaking at the Financial Sector Conference in Saudi Arabia, Credit Suisse Group AG Chairman Axel Lehmann said government assistance "isn't a topic" for the lender as the Swiss bank sought to shore up confidence among shareholders and clients.This…
Update(1510ET): After nearly two hours since the story first broke in international press, the Kremlin has issued its version of events concerning the US drone crash in the Black Sea Tuesday. The Russian Defense Ministry said nothing about the Pentagon's allegations…
Authored by Joakim Book via Reason.com,The Fed's anti-inflation measures had to hurt someone...The Federal Reserve is in the unenviable position of achieving its mandate by crashing the economy. It's not something it wants to do, as Fed Chair Jerome Powell meekly admitted in…
A song recorded by former President Donald Trump and the "J6 Prison Choir" hit the #1 spot on iTunes over the weekend.The "J6 Prison Choir" is a group of men jailed for their involvement in the Jan. 6 2021 breach of…
Authored by Norman Solomon via Common Dreams,Vast quantities of lies from top U.S. government officials led up to the Iraq invasion. Now, marking its 20th anniversary, the same media outlets that eagerly boosted those lies are offering retrospectives. Don't expect them to shed light on…
China has blasted the new AUKUS nuclear submarine deal announced by President Joe Biden in San Diego on Monday alongside Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak. Biden sought to stress that the agreement to transfer nuclear…
By Nour Al Ali, Bloomberg markets live reporter and analystBreakevens and inflation swaps show market inflation expectations still above the Fed’s 2% target...... which coupled with money-market expectations of a Fed rate-cut as soon as the summer...... is a sign that…
At a moment Western officials and even some mainstream media are beginning to express doubt over Ukraine's ability to push Russian forces back, Florida Gov. Ron DeSantis, who will likely enter the race for the 2024 GOP presidential nomination, has issued his sharpest…
Authored by George D. O'Neill Jr via TheAmericanConservative.com,Americans need to wake up to the realities of a post-unipolar world before it’s too late...As we witness the collapse of various mainstream narratives, especially those surrounding the U.S./NATO war with Russia in Ukraine,…
Authored by Zachary Stieber via The Epoch Times (emphasis ours),U.S. health authorities have responded to the warning from Florida’s surgeon general about a spike in reports of adverse events following COVID-19 vaccination.Dr. Rochelle Walensky, director of the Centers for Disease Control…
Auto dealerships are encountering a major problem where auction (wholesale) prices are increasing while real book values stagnate, squeezing profitability. To make sense of this, auto-guru CarDealershipGuy expanded on our tweet, pointing out that Manheim wholesale auto prices are re-accelerating while other indexes tracking…
Authored by Jeffrey Tucker via The Epoch Times,Many people in Washington hoped for much better inflation numbers in February. Below zero would have released tears of joy following this rough weekend of bank failures and the first signs of financial instability…
The US government may have made tens of millions of dollars in duplicate payments for virus research at the Wuhan Institute for Virology, according to a review of government records by a former federal investigator, CBS News reports. "What I've found so far is…
Authored by Katabella Roberts via The Epoch Times (emphasis ours),Former President Donald Trump is set to release 150 private letters sent to him from an array of high-profile political figures and celebrities including former presidents Barack Obama and George W. Bush, and Oprah Winfrey.Former…
Shares of Uber Technologies Inc. and Lyft Inc. traded higher today following the decision of a California appeals court to uphold the law that categorizes gig workers as independent contractors rather than employees. The 132-page decision, released on Monday evening, struck down…
Authored by Matt Taibbi via Racket News,Racket readers may recall that in November, shortly before the Twitter Files began, I ran an interview with Steve Friend, a onetime FBI agent who lost his career after blowing the whistle on the Bureau.…
Florida Governor Ron DeSantis' administration is revoking the Hyatt Regency Miami's alcohol license after it hosted "A Drag Queen Christmas" with children present in the audience.In a 17-page complaint filed Tuesday by the state's Department of Business and Professional Regulation, the…
Authored by Ross Pomeroy via RealClear Wire,Conventional wisdom, along with boatloads of scientific evidence, point to obesity being universally unhealthy, leading to diabetes, cancer, heart disease, and many more problems. But in recent years, that conventional wisdom has been challenged by…
"I am certain that this is complete nonsense," President Vladimir Putin said in fresh statements to Russian media on Tuesday, making rare detailed remarks concerning the sabotage of the Nord Stream pipelines. He was referencing the latest narrative out of the…
Authored by Kane McGukin via The Mesh Point,The relationship between Silicon Valley Bank, our attention spans, and our money.Investing requires the ability to manage funds such that you are able to cover both your short-term needs and your long-term wants + needs.…
The Treasury Department is finally complying with a request to release suspicious activity reports (SARs) generated in connection with the Biden family and their associates' business transactions.US banks have filed over 150 SARs from Hunter and President Joe Biden's brother, James,…
Authored by Jacob Hornberger via The Future of Freedom Foundation,Imagine that for the last 100 years, the federal government’s policy was to bail out every business that was in danger of going under. The policy would consist of shoveling large amounts…
Syrian President Bashar Assad has arrived in Moscow on Tuesday in a rare trip where he is expected to meet with his staunch ally, Russian President Vladimir Putin on the following day. A Kremlin statement previewing the Wednesday Assad-Putin meeting indicated that…
By Russell Clark of The Capital Flows and Asset Markets Substack,Yesterday I wondered if the collapse of SVB was the top of the US hiking cycle.In summary, I thought unless I saw a trend change in GLD/TLT I would not get…
Oil prices have puked to 3-month lows in the last few days, as they seem the only asset capable of pricing in a recession, accelerating into the close today amid growing fears over US economic growth and OPEC saying it sees…
Authored by Steve Watson via Summit News,After New York state regulators shut down Signature Bank Sunday, a series of woke videos produced by the company has gone viral, with critics noting it’s no wonder the bank went under if this was…
In contrast to billionaire Bill Ackman's praise for the federal government's bailout of SVB depositors, Citadel founder Bill Griffin is not impressed, telling The FT that this action by US regulators shows American capitalism is “breaking down before our eyes”.As a…
Authored by Lawrence Wilson via The Epoch Times,The FBI and U.S. Department of State have not yet provided documents in response to a congressional request for information on the origin of the COVID-19 virus, which is due March 13, but the…
One day after a historic rout among regional banks which saw many loss 50% or more of their market cap, US regionals rallied on Tuesday, clawing back some losses from the selloff seen in the wake of Silicon Valley Bank’s collapse,…
Over the weekend, amid populist howls of outrage that a bailout of SVB would promote moral hazard (in the end depositors did get bailed out with a full recovery, but other unsecured creditors oddly enough would get nothing, while the common…
Authored by Paul Joseph Watson via Summit News,Canadian Foreign Minister Mélanie Joly admitted that the long term goal of western involvement in Ukraine is not merely to see Moscow defeated, but to enact “regime change” in Russia.Joly made the comments while…
And so the week's main event, the February CPI, has come and gone and while it wasn't "shockingly hot" - which would have sent stocks tumbling today - it was in line with elevated expectations, with core CPI coming in slightly…
After January's disappointing 'stall' in the linear demise of inflation, consensus expectations were for a re-acceleration of the YoY decline in headline CPI (from 6.4% to 6.0%), and the actual print came in right on expectations (+0.4% MoM, +6.0% YoY). That…
The first attempt to auction off SVB (or parts of the failed bank) was unsuccessful, but is shrouded with political questions, as The Wall Street Journal reports:The Federal Deposit Insurance Corp. says it couldn’t find a private buyer for SVB, though…
Authored by Lance Roberts via RealInvestmentAdvice.com,With the collapse of Silicon Valley Bank, questions of potential “bank runs” spread among regional banks.“Bank runs” are problematic in today’s financial system due to fractional reserve banking. Under this system, only a fraction of a bank’s deposits must be available…