Bill’s commentary:
“Gold, the “ace” in every central bank’s black hole of defaulted debt…”
It’s no secret that central banks around the world are buying up gold.
In the first three months of the year, central banks bought a combined 228 tonnes, the most ever seen in a first quarter, World Gold Council data revealed.
This follows up on what was already a record year in 2022, during which 1,136 tonnes of gold worth some $70 billion were added to the banks’ reserves. Compared to the 450 tonnes bought during 2021, that represents a whopping 152% year-on-year increase!
Bill’s commentary:
“Global Ponzi. Who has the Gold/silver? – Dave”
Major economies that fail to address their mounting debt issues will die a “fiscal death,” the head of investment and wealth advisory Laffer Tengler Investments, Arthur Laffer, has warned.
In an interview with CNBC this week, he predicted a “decade of debt,” adding that the borrowing crisis has embraced both developed and emerging countries, and it is not going to “end well.”
Bill’s commentary:
“And you thought the banking crisis was over?”
New York Community Bancorp (NYCB) closed out 2023 with a share price of $10.23. At the closing bell yesterday, its share price was $4.20 – a year-to-date decline of 59 percent. More pain is expected today as the credit rating agency, Moody’s, cut the regional bank’s credit rating two notches to junk after the market closed yesterday.
Bill’s commentary:
“The definition of “$1″ in The Constitution is 371.25 grains of silver. So no, we no longer follow The Constitution…”
BillHolter.com 
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