On October 16, 2015, I warned that the banking industry was entering a strong cyclical AND structural downturn. See the full explanation below...
This is a chart showing the how well that warning has panned out thus far...
This is the best quarterly performance for Gold in 30 years...
And as Mike Krieger of Liberty Blitzkrieg blog details, physical demand is soaring...
The global Central Banks have declared War on Cash.
Historically, one of the safest things to do when the markets begin to collapse is to move a significant portion of your holdings to cash. As the old adage says, during times of deflation, “cash is king.”
The notion here is that cash is a safe haven. And while earning 1-2% in interest doesn’t do much in terms of growing your wealth, it sure beats losing 20%+ by holding on to stocks or bonds during their respective bear markets
It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut.
Back in 2012, BNP Paribas exited the North American reserve-based lending market, when it sold its RBL unit to Wells in an effort to shore up its balance sheet amid the turmoil generated by the eurozone debt crisis.
A little over two years later, in the fall of 2014, BNP got back into the RBL game in the US. That probably wasn’t a good idea.