The team at Guildhall look at a recent news report from the Wall Street Journal “Regulators Regject ‘Living Wills’ of Five Big U.S. Banks. The FDIC and the Federal Reserve rebuke the bankruptcy plans of five big U.S. banks in that in the even they go through bankruptcy taxpayers would still be on the hook. This creates a very good case for gold and for taxpayers to think about holding assets outside the banking system, as big banks are not considering the taxpayer protection.
China’s gold exchange is up and running. What does this mean for gold and silver? Having a competing exchange for price discovery has many gold market analysts like Stephen Leeb (as heard on King World News) prognosticating that the new gold fix is the first step in gold’s rise to $10,000 – $20,000. Jeremy Wiseman and Darren Long discuss the effects this will have on the market.
Demand for silver from the East and West has been immense. Guildhall discusses a recent report from srsroccoreport that shows JP Morgan has built up an inventory of 69 Million ounces in four years and the Shanghai Futures Exchange has built up an inventory of 54 Million ounces in only eight months. The impact of the this demand is discussed and what it could mean for future pricing of silver.