Financial Times/Jennifer Hughes and Antoine Gara/5-2-2023
“Top investors have warned against complacency following the rescue of First Republic, arguing the third seizure of a bank by US regulators since March threatens to constrain credit and worsen an economic slowdown.”
USAGOLD note: Prepare for aftershocks. Prepare for the possibility of more failures.
“It’s time for the markets to fully digest how constrained central banks are going to be relative to the last 30, 40 years, when every time there was a tiny murmur of a problem, you could just lower rates [and] print money.” – Karen Karniol-Tambour, Bridgewater Associates
