GoldSeek Radio's Chris Waltzek this week interviewed GATA Chairman Bill Murphy, who said the bullish fundamentals for gold and silver remain in place -- as does manipulation of their markets by what he calls the gold cartel.

The next big rally in the metals, Murphy says, could fire up faster than anyone expects.

The interview is 12 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:

https://silverseek.com/article/goldseek-radio-nugget-bill-murphy-when-silver-catches-gold-look-out-above

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

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GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Wed, 22 Mar 2023 02:46:53 +0000

Jan Nieuwenhuijs: The hierarchy of money and the case for $8,000 gold

9:31p ET Tuesday, March 21, 2023

Dear Friend of GATA and Gold:

Gold market researcher Jan Nieuwenhuijs writes today that central banks are gradually turning away from government currencies and back toward gold for the major component of their financial reserves. He calculates a likely future valuation of gold in U.S. dollars that is substantially higher than the price shown on charts tonight.

Nieuwenhuijs' analysis is headlined "The Hierarchy of Money and the Case for $8,000 Gold" and it's posted at the Gainesville Coins internet site here:

https://www.gainesvillecoins.com/blog/hierarchy-of-money-case-for-8000-gold

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

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To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Wed, 22 Mar 2023 01:31:10 +0000

Pam and Russ Martens: At year-end JPM held more than $1 trillion in uninsured deposits

By Pam and Russ Martens
Wall Street on Parade
Tuesday, March 21, 2023

Jamie Dimon is the chairman and CEO of JPMorgan Chase, the largest bank in the United States, which is also ranked the riskiest global bank by its regulators. But instead of getting his own house in order in the midst of a banking crisis, Dimon has been peculiarly focused elsewhere.

Over the past five days Dimon's legions of publicists have been burning up the phone lines with reporters, pushing the narrative that Dimon is some kind of financial wizard who needs to have a seat at the table to save the regional bank, First Republic Bank.

... Dispatch continues below ...

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Last Thursday news hit the wire services that Dimon had lined up 11 banks willing to place $30 billion in uninsured deposits into First Republic Bank. JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo each ponied up $5 billion -- or two-thirds of the $30 billion. The Federal Deposit Insurance Corporation caps federal deposit insurance at $250,000 per depositor, per bank.

Taking $5 billion of your bank's shareholders' money and throwing it at a regional bank whose stock price is collapsing was not viewed as the brightest of ideas by the stock market. ...

... For the remainder of the analysis:

https://wallstreetonparade.com/2023/03/at-year-end-jpmorgan-chase-held-over-1-trillion-in-uninsured-deposits-versus-119-billion-at-first-republic/

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Tue, 21 Mar 2023 16:04:18 +0000

Ambrose Evans-Pritchard: Brace for a long, hot summer of financial accidents

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, March 21, 2023

https://www.telegraph.co.uk/business/2023/03/21/banking-crisis-young-yet-brace-long-hot-summer-financial-accidents/

Swiss regulators have tossed nitroglycerin onto the global financial fire. They have also committed shameless expropriation. So much for the safety of Zurich.

The total wipe-out of $17 billion of Credit Suisse's tier 1 bonds renders the convertible debt market in Europe almost uninvestable. These junior bonds ought to trump equities in market hierarchy. Clearly they do not. "It means the banking crisis we've seen over the past few weeks has started a new chapter," said Russ Mould from AJ Bell.

... Dispatch continues below ...

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The Invesco AT1 capital bond fund, which pools such bank debt from the likes of Barclays or Credit Agricole, crashed by 18% as investors digested the terms of the rescue deal for Credit Suisse.

It recovered after a startled European Central Bank rushed out a reassurance that no such atrocity would happen in the eurozone. But it did in fact happen to AT1 bondholders of Spain's Banco Popular in 2017, overlooked as a minor incident at the time.

When push comes to shove, it is easier to fleece the sophisticated foreign funds that buy these instruments than to wipe out retail shareholders, in this case Swiss citizens with a political voice.

There is a reason why regulators were loath to impose haircuts on bonds at the onset of the eurozone debt crisis, even if it meant taxpayer bailouts and the stench of moral hazard. Merely to talk about write-downs risked instant contagion.

You can date the moment that the small Greek crisis turned into the larger Italian and Spanish crisis, and therefore became an existential threat to Europe's monetary union.

It was when Angela Merkel and Nicolas Sarkozy -- walking on the beach at Deauville in October 2010 -- opened the door to haircuts on sovereign debt. Investors hurried to the exits, sauve qui peut.

The justification for selling Credit Suisse at 7% of book value and vaporising its bonds is that the bank is in worse trouble than supposed. Disentangling the politics of this is tricky but the episode overall tells us that global monetary tightening has already done more systemic damage.

Regulators seem to have discovered a thicket of undisclosed losses. Capital Economics said the draconian terms of the shotgun marriage with UBS suggests that "a substantial part of Credit Suisse's $570 billion assets may be either impaired or perceived as being at risk of becoming impaired".

What is shocking is that a large and historic global bank could disintegrate in days, even if the deeper rot lies in slow-motion deposit flight over many months. Credit Suisse had larger capital buffers than most global banks. That Maginot Line so favoured by Basle regulators has proved next to useless.

"Right up until its forced sale, the bank had ample capital. Until the past few days, it also had ample liquidity. Its liquidity crunch was caused by the evaporation of trust from the market," said Clive Horwood, from the Official Monetary and Financial Institutions Forum.

It was the same lightning devastation of four US banks. Silicon Valley Bank (SVB) in California lost $42 billion of deposits in a single day on March 10.

The sequence of pre-Lehman financial tremors in 2007 -- Icelandic banks, Bear Stearns, Northern Rock -- seem almost leisurely by comparison. Our instant digital culture has accelerated the mechanisms of a modern bank-run.

The prevailing narrative is that SVB was a maverick bank with over-exposure to the US tech bubble and to interest rate risk from US Treasuries, and too reliant on large uninsured depositors. This is true as far as it goes (not far), but it evades the larger issue.

"SVB was a good bank. It did what it was supposed to do: invest in mortgages and Treasuries," said Professor Larry Kotlikoff from Boston University.

There was nothing wrong with SVB's loan book. It was not facing a wave of defaults. It chose to park excess deposits in AAA bonds for safe-keeping after stepping back from lending to Silicon Valley as the tech cycle rolled over. It had the best collateral in the world.

Yet it blew up suddenly because it had not taken out adequate hedge protection against breakneck monetary tightening by the US Federal Reserve. It was forced to crystallise paper losses that were exempt from rules on mark-to-market pricing.

That ought to give pause for thought. The Federal Deposit Insurance Corporation says US banks were $620 billion underwater on bond holdings as of December. How many others risk a bank run the moment they have to start selling any supposedly safe assets at a loss?

The fire at SVB was suppressed with an emergency guarantee of all the bank's uninsured depositors. But that begs a larger question. What about the other $8 trillion of uninsured deposits in the US banking system? Are they implicitly insured, or not?

Republic Bank also faced deposit flight and had to be rescued by a $30 billion whip round among the big banks. This has not yet done the trick. Republic's share price fell a further 30% in New York last night.

The bank is not a basket case. It passed the Dodd-Frank stress test: ergo, regulators concluded that its portfolio of mortgage loans could weather the housing slump. Prof Kotlikoff said it appeared to be "an exceptionally strong bank."

Over three days last week, the Fed increased emergency loans of different kinds from almost nothing to $318 billion.

"To put that in context, it's a far more severe liquidity crunch than at the start of the pandemic and not far off the financial crisis peak of $437.5 billion in mid-October 2008. This is a very serious crisis in the banking system," said Paul Ashworth from Capital Economics.

In parallel, the Federal Home Loan Bank tapped the US Treasury for $250 billion of liquidity to alleviate acute stress among regional and community banks.

These rescues have become necessary because the US financial system cannot withstand the pace of rate rises and quantitative tightening (QT) by the Fed.

"The current interest rate environment has had dramatic effects on the profitability and risk profile of the banks," said the FDIC's Martin Gruenberg. Well, indeed.

As long as Jerome Powell's Fed thinks its chief task is to crush inflation -- overdone in my view, since money contraction already implies that inflation will come down with a lag – the banking crisis will continue to escalate and spread.

Philip Turner, a former senior official at the Bank for International Settlements, said these bank failures are not one-off idiosyncratic upsets. The pathology is more fundamental.

"The scale, opacity, and interconnectedness of interest rate exposures remains the major systemic risk right now. This is the inevitable consequence of monetary policies pursued over the last 15 years. Central banks bought long-term assets for more than a decade in order to depress government bond yields well below sustainable market levels," he said.

"Regulators adopted rules and practices that induced banks, pension funds, and insurance companies to take on even more rate risk," said Professor Turner, writing for the journal Central Banking.

It worked marvellously at first by reinforcing QE. The nefast consequence today is that benchmark safe assets have themselves become the transmission channel for financial shocks. Ah, the implacable law of unintended consequences.

Prof Turner is not saying that QE was wrong. The error was to persist too long, and at the wrong calibration.

We are now stuck in this brave new world. Central banks have swung from frenetic money creation in 2020-21 to the monetary death march of 2023, with all key measures of the money supply flashing red warnings in America and Europe.

The best we can hope for is a controlled hard landing but that requires a circuit-breaker. At a minimum, the Fed should halt its cycle of rate rises and suspend QT until the money growth recovers. The ECB should stop beating its chest until it is clearer how much damage it has already caused.

Will either act in time? Probably not. Central bankers have yet to acknowledge that the money supply is dangerously out of kilter. So brace for a long hot summer of financial accidents until they get the message.

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Tue, 21 Mar 2023 15:49:13 +0000

U.S. studies ways to insure all bank deposits if crisis grows

By Saleha Mohsin and Sridhar Natarajan
Bloomberg News
Monday, March 20, 2023

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it's needed to head off a potential financial crisis.

Treasury Department staff are reviewing whether federal regulators have enough emergency authority to temporarily insure deposits greater than the current $250,000 cap on most accounts without formal consent from a deeply divided Congress, according to people with knowledge of the talks.

... Dispatch continues below ...

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Authorities don't yet view such a move as necessary, especially after regulators took steps this month to help banks keep up with any demands for withdrawals, the people said, asking not to be named describing confidential talks. Still, they are developing a strategy out of due diligence in case the situation worsens. ...

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* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Tue, 21 Mar 2023 15:19:10 +0000

Ed Steer: Gold and silver soar -- and more silver departs SLV

6:58p ET Monday, March 20, 2023

Dear Friend of GATA and Gold:

The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Gold and Silver Soar -- and More Silver Departs SLV" and is posted in the clear at SilverSeek here:

https://silverseek.com/article/gold-silver-soar-and-more-silver-departs-slv

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Toast to a free gold market
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Here's what the bottles look like:

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Buyers can compose their case by choosing as many as four varietals from the list here:

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To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Mon, 20 Mar 2023 22:59:12 +0000

Switzerland commits a third of its GDP to repair banks

Having nearly blown up the world's financial sector, Credit Suisse executives will still get their bonuses.

* * *

By John Revill
Reuters
Monday, March 20, 2023

ZURICH -- Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country's gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show.

Swiss authorities announced on Sunday that UBS had agreed to buy rival Swiss bank Credit Suisse in a shotgun merger aimed at avoiding more market-shaking turmoil in global banking.

... Dispatch continues below ...

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UBS said it will pay $3.2 billion for the 167-year-old flagship while the government said UBS would also take on the first $5.4 billion in losses from unwinding derivatives and other risky assets.

The deal, however, involves a large amount of public support, with three tranches of liquidity and loans, as well as a pledge from the Swiss government to absorb up to 9 billion francs in potential losses from the takeover.

The total of 259 billion francs of support is equivalent to a third of Switzerland's entire economic output, which stood at 771 billion francs last year.

"The government's going to have to say to voters why they are putting citizens' money, taxpayer money at risk to bail out a bank that was predominantly servicing the ultra wealthy, doing some pretty extraordinary things with its investment bank and paying people crazy amounts of money relative to what the man in the street gets paid," one former global bank CEO, who did not wish to be identified, told Reuters.

In a memo seen by Reuters that was sent to staff on Sunday after the deal announcement, Credit Suisse reassured staff that their bonuses would be paid in full. ...

... For the remainder of the report:

https://www.reuters.com/business/finance/switzerland-puts-up-260-billion-francs-credit-suisse-rescue-documents-2023-03-20/

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Mon, 20 Mar 2023 14:34:08 +0000

China is thrilled with new mine that will bolster gold reserves

Shandong Finds Huge High-Quality Gold Mine; Deposit Will Yield Critical Resources

From Global Times, Beijing
Sunday, March 19, 2023

China has discovered a super-large gold deposit, the Xilaokou gold mine in Rushan, East China's Shandong Province, with an estimated reserve of 50 tons, China Media Group reported on Saturday.

After eight years of prospecting, the Xilaokou gold mine has become the largest known gold deposit in the region and the largest discovered in 2023 so far, according to the Shandong Provincial Bureau of Geology & Mineral Resources.

... Dispatch continues below ...

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The deposit contains high-quality gold ore, which can be easily mined and refined, according to the local resources department.

The deposit will help China to expand its gold reserves and support the nation's self-sufficiency in critical resources, the report said.

China has been enlarging its gold reserves and output amid regional geopolitical risks and the global economic downtrend. ...

... For the remainder of the report:

https://www.globaltimes.cn/page/202303/1287526.shtml

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

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To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Sun, 19 Mar 2023 23:46:03 +0000

Vast new money creation by central banks, so of course gold goes down

Maybe with a little help from central bank shorting.

* * *

Fed and Other Major Central Banks Move to Boost Dollar Funding

By Craig Torres
Bloomberg News
Sunday, March 19, 2023

The Federal Reserve and five other central banks announced coordinated action on Sunday to boost liquidity in U.S. dollar swap arrangements, the latest effort by policymakers to ease growing strains in the global financial system.

Central banks involved in the dollar swaps will "increase the frequency of seven-day maturity operations from weekly to daily," the Fed said in a statement coordinated with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

... Dispatch continues below ...

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The U.S. central bank has typically provided access to such arrangements at times when there is a squeeze on the availability of dollars. That can arise because banks outside the U.S. typically have obligations that are denominated in greenbacks, and in times of financial strain have less access to dollar funding. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2023-03-19/fed-and-five-central-banks-announce-move-to-boost-dollar-funding

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

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To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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Sun, 19 Mar 2023 23:03:28 +0000

By doubling bid, UBS gets Credit Suisse and huge government credit line

By Arash Massoudi, Stephen Morris, James Fontanella-Khan,
Laura Noonan, and Owen Walker
Financial Times, London
Sunday, March 19, 2023

UBS has agreed to buy Credit Suisse after increasing its offer to more than $2 billion, with Swiss authorities poised to change the country's laws to bypass a shareholder vote as they rush to announce a deal before Monday.

The all-share deal between Switzerland's two biggest banks is set to be announced as soon as this evening and will be priced at a fraction of Credit Suisse’s closing price on Friday, all but wiping out the target’s shareholders, three people with direct knowledge of the situation said.

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UBS will now pay more than SFr 0.50 a share in its own stock, up from a bid of SFr 0.25 earlier today worth around $1 billion that was rejected by the Credit Suisse board, the people said.

But the price remains far below Credit Suisse's closing price of SFr 1.86 on Friday.

The Swiss National Bank has agreed to offer a $100 billion liquidity line to UBS as part of the deal, according to two people familiar with the matter. ...

... For the remainder of the report:

https://www.ft.com/content/ec4be743-052a-4381-a923-c2fbd7ea9cfd

* * *

Toast to a free gold market
with great GATA-label wine

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Sun, 19 Mar 2023 17:53:09 +0000

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