In this interview, Brian and Darryl Panes from As Good As Gold Australia interview Alasdair Macleod, Head of Research at GoldMoney.
In this interview, Brian and Darryl Panes from As Good As Gold Australia interview Alasdair Macleod, Head of Research at GoldMoney. Anyone who doesn't see what is happening will soon lose a major part of their assets, either through bank failure, currency debasement or the collapse of all bubble assets, like stocks, property and bonds - many bonds will become worthless. The solidity of the banking system is based on confidence. When confidence evaporates, so do the balance sheets of the banks, and depositors realise the system is just a big black hole. This is exactly what is about to happen! For anyone who believes that this is just a problem with a few smaller US banks and one big one, Credit Suisse - they need to think again! The banks are falling like dominos. Silicon Valley Bank (16th biggest US bank) is gone! Signature Bank (29th biggest US bank) is gone! First Republic Bank had to be supported by US lenders and the FED by a $30 billion loan due to a run on deposits. But this won't stop the rot, as depositors attack the next bank, and the next one, and the next one. Then we have the Swiss 2nd largest bank, Credit Suisse saved on the bell via an acquisition by UBS with the Swiss Government back stopping the deal. How will the banking sector cope with this new challenge and what will be the immediate and long-term outcome? Janet Yellen just recently confirmed that the FED would support the big banks, but what about the small commercial banks. They will all need the FED's assistance, but will it be there? Many analysts have indicated a gold price by the end of 2023 at about US$2,500 or AUD$3,750. With the present banking debacle, could this price be on the low side, and what about the gold/silver ratio at 82:1 Wealth preservation in physical gold is now absolutely critical - you've been warned!