Free Republic

China is currently facing a staggering $800 billion in defaults in its non-standard debt market. Much of this debt is tied to Local Government Financing Vehicles (LGFVs), which issue fixed-income investments that aren’t publicly traded and are primarily used to fund infrastructure projects. Analysts estimate the size of this non-standard debt market to be massive, and recent data shows an alarming increase in defaults. In just the first nine months of 2024, 60 non-standard debt products tied to LGFVs have either defaulted or flagged repayment risks—up 20% compared to the same period last year. This surge has set a record...

Silver prices soared by over 6% yesterday, breaking through the crucial $33.6 per ounce mark and sending shockwaves through global markets. The surge has put five major U.S. banks at risk of massive losses, potentially in the billions, due to their heavy short positions in the precious metal. According to data from the Commodities Futures Trading Commission (CFTC), the open interest in silver futures contracts has reached a staggering 141,580 contracts, each representing 5,000 ounces of silver. This translates to a total of 707,900,000 ounces – nearly equivalent to a year's worth of global silver production.

The Military spokesperson says Israel will reveal how Iran funds Hezbollah and its terror activities; IDF planes strike banks in Beirut's Dahieh and elsewhere around the country.

The Biden Administration is pushing banks to report every $600 transaction, whether a deposit or withdrawal, from every business or personal account. The Democrats want everything, and no matter how much they collect, they will always spend more. TAXES are really no longer even necessary along with borrowing. They never pay off the debt anyhow, and it would be immensely more efficient for the government to just print the money they need and end both borrowing and taxation. Over 70% of the national debt is due to interest and wars. It does not go to expand the economy or help...

Many of you may remember my reporting around "Operation Choke Point 2.0" from the spring of 2023; TLDR, Biden's financial regulators, namely the Fed, FDIC, and OCC, launched a crackdown on banks covering the crypto space. The first casualty was Silvergate Bank, which voluntarily liquidated. The standard reporting around Silvergate was that the bank lent to crypto depositors and those depositors were flighty; when rates rose, Silvergate suffered M2M losses on bond portfolios and ended up insolvent. Except that's not true. Silvergate weathered the storm, even though short sellers and members of Congress like Sen. Elizabeth Warren (D-Mass.) encouraged a...

The U.S. is entering an era of hyperinflation, warns Lynette Zang, Founder & CEO of Zang Enterprises, adding that the transition in the U.S. has already begun. "I believe with all my heart and everything that I know that we've already begun the transition to hyperinflation," Zang told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. "We're going to see more borrowing, more money printing, more inflation because they have not killed that beast that they created and continue to create. It'll become very obvious in 2025." Zang sees the economy holding up well through the U.S. elections on...

HONG KONG, Sept 11 (Reuters Breakingviews) - China's financial sector has serious heartburn. For decades, Beijing has leaned on its state-controlled banks to turbo-charge growth by extending credit. But lenders are now clogged with risky assets. The result is something like indigestion: not critical, but painful for the $17 trillion economy. On paper, the country's banks look remarkably healthy given 2020's twin shocks of the pandemic and a burst property bubble. Official data, opens new tab show them sitting on 3.3 trillion yuan, roughly $460 billion, of non-performing loans. Add in another $670 billion of less-problematic-but-still-pesky "special mention" loans, which...

This was all a mistake. Surely, the United States wouldn't intentionally create a system that facilitated Iraqi banks to illegally funnel money into Iran's terrorist regime. Right? Right?!The U.S. set up an ad hoc banking system in Iraq to handle the country’s oil earnings. Iraqi banks used it to funnel dollars to Iran. https://t.co/n6I6MBF0bf https://t.co/n6I6MBF0bf— The Wall Street Journal (@WSJ) September 9, 2024Iraq gets a substantial fraction of its electric power from Iran, and the United States set up a system through which the Iraqis could pay for the power without violating sanctions. The Federal Reserve helped set it up,...

Following its stress test earlier this year, the Federal Reserve Board on Wednesday announced final individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are informed by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The table shows each bank's common equity tier 1 capital requirement, which is made up of several components, including: The minimum capital requirement, which is the same for each bank and is 4.5 percent; The stress capital buffer requirement, which is based in part on the stress test results and is at...

A new study by Florida Atlantic University believes that 94 separate US banks are facing a significant risk of bank runs. The at risk banks have all reported a 50% or higher ratio of uninsured deposits to total deposits. Basically, they simply do not have the hard currency to shell out in the event of a panic. Banks currently limit cash withdrawals under the pretense of money laundering and security. They will ask all sorts of questions if you even TRY to withdraw your money. They realize we are on the verge of a crisis in banking on a global...

The Chinese banking sector is facing a severe crisis. In just one week, 40 banks disappeared, and the collapse of Jiangxi Bank has further deepened the sector's problems. Experts warn that the situation could have severe consequences for the global economy. Reports from China indicate the collapse of one of the banks. The portal renminbao.com published a report from outside the headquarters of Jiangxi Bank, which concerned clients stormed over bankruptcy rumors. The bank had previously informed that its profits could drop by 30% due to customers' loan repayment issues. The Economist described the situation in the Chinese banking market....

KEY POINTS The Bank Secrecy Act has been around since the Nixon administration. The law was designed to stop criminal enterprises, large and small. Unless you're breaking the law, you have nothing to worry about. It's your money, and generally, you have the right to withdraw as much -- or as little -- as you desire from your bank account. However, under a law called the Bank Secrecy Act (BSA), banks must report any deposits or withdrawals of $10,000 or more. Here, we'll cover why the BSA exists and if it's anything you need to be concerned about....... During the...

So apparently the US Supreme Court has just given 40 US states the green light to begin issuing their own gold and silver-backed currencies. Quote from the SC decision: “The United States maintains a dual system of banking, made up of parallel federal and state banking systems. That dual system allows privately owned banks to choose whether to obtain a charter from the Federal Government or from a state government.” www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf

Unrealized losses in the US banking system are once again on the rise, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its Quarterly Banking Profile report, the FDIC says banks are now saddled with more than half a trillion dollars in paper losses on their balance sheets, due largely to exposure to the residential real estate market. Unrealized losses represent the difference between the price banks paid for securities and the current market value of those assets. Although banks can hold securities until they mature without marking them to market on their balance sheets, unrealized losses...

Barry Sternlicht, a prominent figure in the real estate industry as the co-founder, chairman, and CEO of Starwood Capital Group, has sounded the alarm regarding the precarious state of regional and community banks across the United States. His apprehension stems from the challenges faced by these institutions amid the current economic landscape characterized by higher interest rates, increasing vacancies, and inflationary pressures. Sternlicht’s concerns point to a potential wave of bank failures, with implications for the broader financial system.

Bitcoin was the star of the white-knuckle ride that cryptocurrencies offered in 2017 but lesser-known names, such as Ripple and Ethereum, are seen gaining prominence in 2018. While bitcoin jumped more than 1,200 percent last year, Ripple, created by the founder of bitcoin exchange Mt Gox, surged 35,000 percent in the same period. That means $100 invested in Ripple in January 2017 would have grown to about $35,000 at the start of this year. To be sure, bitcoin is still the biggest cryptocurrency by far - with market value exceeding $250 billion - and is expected to keep that mantle...

'Legal Nightmare' Feared in Russia Suit Against Bank of New York Mellon May Set RICO Precedent By JULIE SATOW, Staff Reporter of the Sun | June 30, 2008 http://www.nysun.com/business/legal-nightmare-feared-in-russia/80947/ The final stages of a $22.5 billion battle pitting the Bank of New York Mellon against the Russian Federation will begin today in a Russian court. Stephen Chernin/Getty A December 2006 picture of a Bank of New York branch just before the bank acquired Mellon Financial Corp. The decision in the money laundering suit, which may be handed down as early as this week, could set a precedent for the global...

epublic First Bank, a Pennsylvania-based financial institution, has collapsed, with the FDIC covering customers’ deposits by transferring them to Fulton Bank after an agreement was reached with the federal agency. This is the first major bank collapse this year, following five that occurred in 2023, as the high-interest rate environment destabilized the balance sheets of major financial players. When Silicon Valley Bank (SVB)collapsed in spring 2023, many economists warned that more could follow—and they did. Signature Bank, First Republic Bank, Heartland Tri-State Bank, and Citizens Bank collapsed in the succeeding months, a sign of instability as the Federal Reserve’s monetary...

U.S. regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers. The Philadelphia-based bank, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department of Banking and Securities. The FDIC, appointed as a receiver, said Fulton Bank, a unit of Fulton Financial Corp, will assume substantially all deposits and purchase all the assets of Republic Bank to "protect depositors". Republic Bank had about $6 billion in total assets...