Shanghai Gold Exchange Bleeding Dry COMEX & LBMA | Andy Schectman

6 months ago
2.74K

Another bank has failed: Republic First Bank. Many experts are concerned of more failures to come. Dedollarization continues as the East sees the risk of holding the Dollar. The East has started to repatriate gold from the United States. In addition, the Shanghai exchange as been pricing precious metals at a premium to the COMEX and LBMA. This has also led to metals moving East at a rapid pace. Andy Schectman of Miles Franklin joins us to discuss.

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First Bank Failure of 2024:
https://www.cnn.com/2024/04/26/business/regulators-seize-republic-first-bancorp/index.html
“The Philadelphia-based bank’s failure comes at a tumultuous time for regional banks, as elevated interest rates have hurt the credit-dependent industry…”

Hundreds of More Banks at Risk:
https://www.noradarealestate.com/blog/which-banks-are-in-danger-of-failing/
“A report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure or collapse due to rising interest rates and a high proportion of uninsured deposits.”

Evacuation of Gold from US Fed:
https://www.fxstreet.com/analysis/fed-chair-mum-on-foreign-nations-evacuation-of-gold-from-us-202402291611

INTERVIEW TIMELINE:
0:00 Intro
1:30 IRA or no IRA?
16:03 Dollar weaponization
23:50 Bank failures
29:00 Shanghai gold exchange
32:50 Dumping treasuries
36:20 Weekly specials
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