Park Avenue Numismatics
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Is the banking crisis over?
6.27.23 - Is the banking crisis over?
Gold last traded at $1,913 an ounce. Silver at $22.86 an ounce.
Banks face their worst losses since the 2008 crisis if inflation cannot be tamed, says the world's brain trust of central bankers -Yahoo!Finance
The banking crisis sparked by the collapse of three major U.S. lenders in the spring may be out of the headlines, but it's not over.
The normally staid economists at the Bank for International Settlements, a type of brain trust for the world's fiat-based monetary system, is not a group prone to employing alarmist language.
Yet officials called for an urgent "change in mindset" among advanced economies now that the limits of Keynesian-style expansion fueled by debt has been exhausted.
"The global economy is at a critical juncture," said [sic] BIS general manager Agustin Carstens told journalists on Sunday during the presentation of its annual report.
A toxic mixture of soaring inflation not seen since at least the 1970s, as well as historically high public and private debt, cannot be sustained for much longer.
