from Peter Schiff:
TRUTH LIVES on at https://sgtreport.tv/
Central Bank Gold Buying Off To A Record-Breaking Start In 2023, Led By Singapore
from ZeroHedge:
It may not be the off the charts gold buying observed in the second half of 2022, but central bank Central bank gold buying made a blistering start to 2023 when according to the latest report from the World Gold Council, demand for the hard currency by the world’s money-printing authorities reached 228 tonnes in Q1, a 176% increase compared to the 82.7 tonnes one year ago. While lower than the figures seen in the previous two quarters this was nonetheless the strongest first quarter on record. According to the WGC, “this is all the more impressive considering it follows the record-breaking pace of demand last year.”
More Troubled Banks
by Paul Craig Roberts, Paul Craig Roberts:
As I reported at the time, the banking crisis is not limited to Silicon Valley Bank. Silicon Valley Bank’s failure was followed by the failures of New York Signature Bank and First Republic Bank of San Francisco. Now three more banks have had their stock prices collapse–Western Alliance, PacWest Bankcorp, and Metropolitan Bank.
As I have emphasized, the Federal Reserve’s higher interest rates are the cause of the bank troubles. The decade of zero interest rates left banks with portfolios of low interest rate assets on their balance sheets. As the Federal Reserve raised rates, these assets declined in value. Depositors saw that the banks were technically insolvent and withdrew funds. Others withdrew funds because they can now get higher interest rates from money market funds.
Where Not to Be in a Crisis
by Jeff Thomas, International Man:
For many years, there have been those who have been prognosticating an economic crisis – not just a recession lasting a year or two, but a full-blown Greater Depression that would eclipse any major event we’ve seen in our lifetimes.
That may appear to be an overstatement, but historically, it’s the norm for a time of major upheaval to occur every eighty years or so. And although some of us began analysing and commenting on the Greater Depression many years ago, it’s clear to all of us that we’ve now entered the leading edge of the crisis.
Liberal Utopia: Two-Mile-Long Vehicle Encampment Spotted In California
from ZeroHedge:
The growing number of homeless encampments has spread like wildfire throughout the San Francisco Bay Area. For years, lawmakers in the state have implemented progressive policies that have backfired, sparking a multitude of crises, including soaring crime, rising homelessness, out-of-control drug overdoses, and population and business exodus.
One of the latest examples of implementing failed progressive policies is the inability to effectively address the homelessness and drug crisis on a two-mile stretch of road in Marin County, California, overrun by cars, tents, RVs, and trailers parked on the side of the road.
Homeless Encampments Are Exploding In Size All Over America As Rents Soar And Evictions Surge
by Michael Snyder, The Economic Collapse Blog:
Communities all over the United States are being taken over by giant homeless encampments, but we are supposed to believe that this is perfectly normal. The Biden administration is trying very hard to convince all of us that the economy is in fine shape even though many of our most prominent corporations are currently conducting mass layoffs and even though Challenger, Gray & Christmas is telling us that the number of jobs cuts during the first three months of this year was up 396 percent compared to the same period last year. Just like in 2008 and 2009, large numbers of people that have lost their jobs or their businesses are ending up living in the streets, and as a result homeless encampments are absolutely exploding in size from coast to coast.
US Debt: Net Interest to Exceed $700B by November
by Peter Schiff, Schiff Gold:
The chart below shows the gimmicks the Treasury has been using to manage the debt while the debt ceiling keeps a lid on new issuance. The primary gimmick used is pillaging government retirement funds which hold non-Marketable debt. In April, the government replenished some of what has been taken by retiring public debt (mostly short-term) as tax receipts increased cash available to the Treasury. They will most likely tap back into this next month as the government gets closer to running out of money.
Unmasking The Great Reset: Schwab, Gates, and the Sinister WEF Plot to Depopulate the World using COVID Vaccines & Climate Change Lies as a Recipe for Disaster
by Rhoda Wilson, Expose News:
In a world shrouded in suspicion and scepticism, where power seems concentrated in the hands of a privileged few and giant corporations, critical thinkers are raising questions about the intentions and actions of prominent entities such as the World Economic Forum (WEF) and renowned figure Bill Gates.
Whispers of a grand conspiracy suggest that under the guise of “saving the planet,” a dark agenda to depopulate the world may be unfolding.
In Only 4 Months in 2023, There Have Been 70 Major Bankruptcies
by Jose Nino, Big League Politics:
According to Mike Shedlock of Mish Talk, there have been 70 bankruptcies through April of 2023.
For perspective, in 2009, 118 bankruptcies took place through April. During the height of the Wuhan virus in 2020, there were 71 bankruptcies through April.
Shedlock listed off some of the most prominent companies to file for bankruptcy in the fourth month span in 2023:
Six Consecutive Withdrawals From SLV
by Ed Steer, Silver Seek:
The gold price wandered quietly sideways until around 12:30 p.m. China Standard Time in GLOBEX trading on their Friday afternoon — and from there it was sold quietly lower until the the commercial traders of whatever stripe pulled their bids when the jobs report was released at 8:30 a.m. in New York. Its low tick was set at, or minutes after, the 10 a.m. EDT afternoon gold fix in London — and its ensuing rally ran into ‘something’ around 12:45 p.m. It then traded quietly sideways to a bit higher until the market closed at 5:00 p.m. EDT.
Utter Chaos at the Short End of the Treasury Market and at the 28-Day Treasury Bill Auction: A Deep Dive
by Wolf Richter, Wolf Street:
Investors exacting their pound of flesh for the risk of a default “as early as” June 1.
The chaos has been going on for weeks. And then it got funny at the Treasury auction on Thursday. Back on April 20, I marveled that the totally crazy 164-basis-point spread between the one-month and two-month Treasury yields: the one-month yield collapsed to 3.4% in just days (from 4.8%), while the two-month yield was just fine, ticking up past 5%. A plunging yield means that the price is surging amid huge demand. Investors were piling into a safe asset that will give them their money back in about a month, before June. What might happen in June? The US might default. That was the calculus back then.
