Just over 10 years ago, HSBC was the first canary in the world's financial crisis coalmine to signal trouble ahead. Today's 7% bloodbath in the banking behemoth is the biggest drop since the financial crisis after reporting fourth-quarter profit that missed estimates on a surprise drop in revenue, which it warned could fall again this year.
Russia Gold Buying Returns - Adds Substantial One Million Ounces To Reserves In January
Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion.
The increase in the gold reserves came after Russia did not buy a single ounce in December - a move seen as potentially a signal or an olive branch to the U.S. and the incoming Trump administration.
Every Citizen Should Own 3.5 Ounces of Gold Bullion - Central Bank
Submitted by Simon Black via SovereignMan.com,
In a scathing editorial published in the Wall Street Journal today, the president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, blasted US banks, saying that they still lacked sufficient capital to withstand a major crisis.
Kashkari makes a great analogy.
When you’re applying for a mortgage or business loan, sensible banks are supposed to demand a 20% down payment from their borrowers.
