In today’s recap, Marcello talks about a report presented by the Federal Reserve that reveals that 722 banks in the U.S. are currently insolvent; the IMF says that a digital currency created in Zimbabwe and backed in gold poses a threat to financial stability; and Elon Musk is stepping down as the CEO of Twitter but will remain chairman and CTO. The new CEO will be former NBC Universal advertising chief, Linda Yaccarino. U.S. prices of goods & services remained high in April, rising +4.9.% from a year ago. The annual rate of inflation has fallen sharply since hitting a 40-year high of +% l ..read more

In today’s recap, Marcello goes on to discuss what is occurring with the US financial system and the likely causes for the recent collapse of so many regional banks.Fears of an ostensibly deteriorating economy have caused gold to achieve new record highs. Is AI going to pose a threat to humanity? Hinton, a pioneer of AI, warns the world about its possible dangers. Shares of many U.S. regional banks were in virtual free fall this week through Thursday. As many as 16 mid-sized banks have shed more than $57B in market capitalization since last Friday on renewed fears around the sector’s stability ..read more

In today’s recap, Marcello addresses a comment made by Warren Buffet about recent banking failures; Elon Musk recently developed a new IA to compete with ChatGPT; and Twitter is partnering with e-Toro to display real-time stock and cryptocurrency information. The March U.S. consumer price index showed price gains cooled last month, in the slowest rise since May 2021. The consumer price index (CPI) rose +0.1% in March, a slower pace than the +0.4% gain in February. March’s headline inflation rose at an annual clip of +5.0%, below expectations of a +5.2% increase. Core CPI, which strips out food ..read more

In today’s recap, Marcello talks about how the weakening position of the dollar facebing the other world currencies might lead to an eventual collapse of it and an hyperinflation in the US; Binance is struggling to find a bank to manage its funds after the collapse of SVB; Tesla is again delivering a record amount of vehicles. U.S. dollar will weaken vs most major currencies in 2023 as the interest rate gap w/its peers stops widening, putting the currency on the defensive after a multi-year run, say a number of currency experts. Despite starting 2023 on a weak footing, the dollar bounced back ..read more

Last week’s economic and financial news saw a mixed bag of updates. Global markets were mostly up, with the US facing a growing wave of global de-dollarization as BRICS push for a new common currency. Meanwhile, cryptocurrencies were in the spotlight with the US Fed judge temporarily stopping the $1.3B sale of Voyager Digital to Binance and CFTC suing Binance for alleged violations of federal laws governing commodities markets. On the financial front, German consumer prices continued to rise, exceeding Euro-area average inflation rates in recent months. The failed Silicon Valley Bank was also ..read more

In today’s recap, Marcello talks about how the banking crisis is affecting Europe as well; Deutshce Bank’s shares had a rough week after the cost of insuring the bank’s debt against the risk of default; Coinbase is seing its shares plunge again due to recent government statements on enforcement action for violations of federal securities laws; California has lost billions of dollars of food due to recent floods; Spain is likely to halve its olive oil output. Germany’s largest bank Deutsche Bank shares tumbled on Friday after the cost of insuring the bank’s debt against the risk of default surg ..read more

In this week’s recap, recent economic data have shown inflation in line with target and have eased investor concerns about bank contagion, although year-over-year inflation remains elevated at 6%. The inflation rate has declined for the eighth consecutive month, with a slowdown in food price increases offsetting higher gasoline prices and another rebound in rents. Food prices are up 9.5%, energy prices are up 5.2%, clothing prices are up 3.3% and new vehicle prices are up 5.8%. Housing costs are up 8.1%, accounting for more than 70% of the overall increase. In the banking sector, First Republi ..read more

In today’s recap, Marcello talks about the recent events that might indicate the beginning of the crisis that has been knocking on the world economy’s door for the last couple of months; this week, the 2nd largest bank collapse in history just happened to Silicon Valley Bank, and also Silvergate Bank apparently collapsed as well; both of these situations dragged down the markets with them. Shares of SVB Financial Group fell -60.41% on Thursday at $106.04, after the firm said it intends to offer $1.25B of its common stock & $500M of depositary shares, weighing on the entire banking sector o ..read more

In this week’s recap, Marcello tells us that Elon Musk is again the world’s richest man after the stocks from Tesla spike 70%; Crypto Companies Behind Tether/Bitfinex Used Falsified Docs & Shell Companies to Get Bank Accounts; The largest supermarkets in UK are now strictly rationing many fruits and vegetables, 22% British households skipped meals or even fasted for a whole day in January. Russia’s grain exports are booming as buyers load up on its attractive bumper supplies. The country’s shipments of wheat, its main crop, almost doubled in January & February from a year earlier. Braz ..read more

In today’s Recap, Marcello talks about the hacking that the Dole Food Company suffered, leaving ALL its North America Production in a halt, This firm is one of the world largest producers of fruits and vegetables; Poland has started Installing Anti-Tank barriers along its order with Belarus; Tuesday was the worst session of the year so far for all the US stock indexes. U.S. inflation data for January was hotter than expected. The core price index y/y came in at +4.7% vs the estimate of +4.3%. January’s rate M/M was +0.6% vs +0.4% estimated. Price index inflation for the month y/y is at +5.4 ..read more