Monday, April 22, 2013
Switzerland Revises 1934 Banking Act to Allow Bail-in Deposit Confiscations!
The
Swiss Financial Market Supervisory Authority (FINMA) has quietly joined
the growing parade of western nations who have quietly re-written
banking laws to allow depositor bail-ins upon the next banking crisis.If Switzerland, the once ultimate safe haven for banking deposits across the world is preparing to confiscate depositors funds, there truly is no protection anywhere other than physical gold and silver in your own possession!
In the event that a bank is failing or where its capitalization is no longer adequate, the Swiss Financial Market Supervisory Authority (“FINMA”) may take measures to improve such bank’s financial viability rather than liquidating it. “Loss absorption” and “bail-in” are important instruments to support any such measures. (more)
Buyers Of Physical Silver - Here Is A Key Chart For You
Today top Citi analyst Tom Fitzpatrick’s team sent King World News four
tremendous charts covering the key markets of silver, crude oil, copper
and the FTSE Mining Index. One of the charts is especially important
for the silver bulls. KWN is pleased to share this information with
with our global readers. Below is what top Citi analyst Fitzpatrick’s team had to say in their latest report, along with four powerful charts.
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Fitzpatrick’s Team:
“The present set up on Brent and Nymex both suggest that lower levels
in the oil price are a danger in the weeks ahead. The spread chart
between the two further suggests that Brent may continue to underperform
(as it has done recently).
Copper also looks set for
further losses. That target corresponds closely to the converged
200-month moving average (which we hit in 2008), and rising trend line
support off that 2008 low (196.5-198.5).
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Commodity slump ripples run through global economy
Lower airfares, cheaper food and rising profit margins are among the
benefits that should flow from tumbling oil and commodity prices - but
only after a long lead time.
Having poured $400 billion into commodities over the past decade, many investors are now selling. Their confidence that risky assets could only float higher on a rising tide of cheap central bank money has crumbled as the global economy fails to respond to the stimulus.
Even China, an important buyer of natural resources, is slowing. Inflation, against which gold in particular is a classic hedge, is falling nearly everywhere.
Price pressures will ease further if natural resources keep falling. That is bad news for exporters such as Saudi Arabia and Brazil but good news for net importers. (more)
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Having poured $400 billion into commodities over the past decade, many investors are now selling. Their confidence that risky assets could only float higher on a rising tide of cheap central bank money has crumbled as the global economy fails to respond to the stimulus.
Even China, an important buyer of natural resources, is slowing. Inflation, against which gold in particular is a classic hedge, is falling nearly everywhere.
Price pressures will ease further if natural resources keep falling. That is bad news for exporters such as Saudi Arabia and Brazil but good news for net importers. (more)
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How to Be Financially Prepared for a Crisis
Most people don’t have a disaster plan, including the wealthy—who are used to having things go their way. The WSJ’s Deborah Kan and Wei Gu talk about how to be prepared without being paranoid.
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US Weekly Economic Calendar
| time (et) | report | period | Actual | CONSENSUS forecast |
previous |
|---|---|---|---|---|---|
| MONDAY, April 22 | |||||
| 8:30 am | Chicago Fed national activity index | March | |||
| 10 am | Existing home sales | March | 5.03 mln | 4.98 mln | |
| TUESDAY, April 23 | |||||
| 9 am | Market flash PMI | April | -- | 54.6 | |
| 9 am | FHFA home price index | Feb. | -- | 6.5% y-o-y | |
| 10 am | New home sales | March | 421,000 | 411,000 | |
| WEDNESDAY, April 24 | |||||
| 8:30 am | Durable goods orders | March | -4.0% | 5.6% | |
| THURSDAY April 25 | |||||
| 8:30 am | Weekly jobless claims | 4/20 | 351,000 | 352,000 | |
| FRIDAY, April 26 | |||||
| 8:30 am | GDP | 1Q | 3.0% | 0.4% | |
| 9:55 am | Consumer sentiment | April | 72.3 | 72.3 | |
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