gold news

 last night in overnight you know in after hours trading we hit a new record high in gold at goldsilver.com we have a price match guarantee free shipping global storage options and phenomenal customer service thanks for making goldsilver.com your bullion dealer hi everyone this video is a continuation of the last three videos so it's now a four video series of the ongoing Global financial crisis that is unfolding and here we go again that's the name of this article as troubled California Bank pacquest uh craters 60

percent it's more than that I'll show you in a moment but uh this is another this is just a progression in all of these Banks starting to fail now uh this is interesting and it's another take on this bubble chart but Powell says that the U.S banking system is sound and resilient narrator we just had over half a trillion in bank failures in the past month well actually it's about 50 days that we've had these bank failures uh but if we go down a little bit lower here we find out that pacquest is about

44 billion in assets so let's take a look at the close-up of these bubble charts this was the one I presented yesterday uh there's another this one they're stacking the bubbles with the largest bubbles on the bottom this one is more accurate however it doesn't look as good but this one is stacking them uh in order of date so you can see these vertical columns that are just slightly tilted toward the right so it correctly shows IndyMac before Washington Mutual now uh IndyMac was also that's also

Countrywide and Countrywide IndyMac this was the failure that kicked off the entire 2008 Global financial crisis is all started from this and Washington Mutual probably would not have happened if this hadn't happened so this was the thing that started the whole ball rolling and it was just like uh you know a snowball rolling downhill and gaining in size and strength and that turned in to the global financial crisis well this was 32 billion uh the uh uh Pac West is 44 billion and so it's bigger than Indie

Mac Countrywide and you know it may not fail it might be acquired uh we'll see maybe JP Morgan will gobble it up like everything else so uh next we've got first horizon shares crashed after TD Bank which is Toronto Dominion Bank deal is terminated uh this is uh um smaller but uh if we keep on going let's take a look at the share prices now and this is a pretty nice uh little feature that is on market watch I can select a three-month chart and then do percent change and so it puts it at zero

percent and you see that uh the first horizon Corp is down 59 if we go over to pack West Bancorp uh and select uh three months and percent change what we find is that from three months ago it is down 87 point it's almost down 90 percent in the since this uh Bank crisis started you can see uh you know the re the what happened uh after Silicon Valley Bank and the contagion that has been happening uh this you know they make an announcement that they're going to try and raise capital or whatever and that

shakes investors confidence but now we're down almost 90 percent on this one and now to my friend uh Lobo Tigre uh AKA Louis James and uh he says uh it's no surprise but legard sounds more hawkish than Powell so legard uh uh heading up the uh European Central Bank and here we have the interest rate rise that they just did so they are following suit uh now how is this affecting gold and silver so this is the gold chart uh I'm going to five years here and then I'm going to back this up a little bit so

that it changes into weekly now we're in weekly data instead of my monthly but basically last night in overnight you know in after hours trading we hit a new record high in Gold according to this chart at least uh so the previous High here uh is two thousand seventy two dollars and thirty cents if you look at the high and that was August of 2020 and then the next high after that was 2069. so two thousand uh 72 dollars and then last night or it was uh 2077 in overnight trading now uh the overnight trading isn't that

critical to things and it's much it's very thinly traded uh it's not like when the when London and the United States are open for business uh when the comex and London are open that's when all of the major trading goes on so when this hit its new high uh I I'm pretty sure that it was pretty easy for uh the powers that be to manipulate it back down because this is something that is scary to the Federal Reserve when when gold starts hitting new highs the Federal Reserve starts getting worried

uh h i you know I forgot to mention this in yesterday's video uh HS this is hsbc's website HSBC acquires Silicon Valley Bank UK limited so the the United Kingdom uh branch of Silicon Valley Bank was acquired by HSBC for the total of value of one pound okay I'll buy that bank for a buck and so they acquired um the in in year ending December of 2022 so last year the this svb UK had record profits before a tax of 88 million pounds and HSBC just got uh to they they were able to acquire that for one pound so

and The Beat Goes On so I want to remind uh chairman Jerome Powell that there is plenty of room on the bottom of my list here for more failed Banks but you know we have to remember um silvergate was first then Silicon Valley Signature Bank and uh and but then Credit Suisse silvergate was voluntarily Unwound but they were basically insolvent credit Swiss so they if had they not Unwound this within days uh they would have been uh seized by the FDIC or regulators and shut down and then uh depositors would you know they

would have merged the deposits sold them to another bank but credit Swiss sold to uh UBS with government guarantees that was again a shotgun wedding by the government the government had to put up a bunch of guarantees to get UBS to take credit swiss but this had been 1.75 trillion it was 1.4 trillion when this happened and if it had not happened within a day or two it would have been season it would have been on the list of official bank failures and so when going back to these bubble charts um if you take a look we'll go back to

the one that's on the correct timeline here but you've got to put a silvergate underneath these now that was only 11 billion so uh bubble of this size underneath those but then you've got to put 1.4 trillion which would be a bubble like this on top of that and it goes right off the top of the charts so we've basically had two trillion dollars worth of bank failures not half a trillion but 2 trillion uh exceeding the global financial crisis of 2008 if you incorporate these banks that are just

about to fail when a government arranges something and does guarantees so that some other bank will take it on so like I said plenty of room for more Banks here uh chairman Powell and what is happening is all of these Banks keep on getting Consolidated now this chart that I showed yesterday or the day before uh started in 1990 but it ended in 2009 nobody has I can't find an updated version of this with all the rest of the banks and right now uh these four are continuing to gobble up more and more

and more Banks and so it's a race for the to the final four and this is a sportscast is he talking about basketball or Banks because that is exactly what's happening and so I want to leave you it's been five days since the last bank panic want to thank you for watching we'll see you next time at goldsilver.com we have a price match guarantee free shipping global storage options and phenomenal customer service thanks for making goldsilver.com your bullion dealer