Financial markets

Without a quick solution to the threat of a payment default, we risk entering a new systemic crisis, this time affecting one of the pillars of the financial system.

Let's decipher the fundamentals of the silver market and the outlook for 2023. The latest World Silver Survey 2023 shows that the silver supply gap is historic and quite significant. This supply deficit alone represents 20% of total market demand !

Physical silver demand has dramatically skyrocketed. The deficit was barely 50 million ounces last year. This year, the deficit has exploded to 237 Moz. In other words, silver demand exceeds supply by 7,393 tons. A colossal figure!

It is fascinating how the gold-to-S&P 500 ratio continues to track its historical performance once again after major distortions across the US Treasury curve. Today's outperformance of precious metals relative to the overall equity market is still in its initial phase.

The debt/GDP ratio is now too high to continue the restrictive monetary policy. The Fed is stuck, it has no choice but to stop its fight against inflation in a context of economic slowdown. Stagflation is now inevitable. It is precisely this type of stalemate and stagflationary environment that g...

Economic and (geo)political developments in recent weeks and months have indeed been exciting. In many areas, it looks as if we are heading for a showdown, for a lasting, formative change. The following five charts present the multi-faceted showdowns that are happening right now before our eyes.

The bullish impulse in silver prices is, in any case, very strong in recent weeks. The movement resembles the very bullish phases of 2010 and early 2020. Silver rises on "feverish rush". This is characteristic of a metal whose prices are highly regulated by the futures market and whose tangible u...

The intensification of banking concentration amplifies the control and power of these banks over citizens and states, and risks deeply damaging the economic fabric of these countries in the medium and long term.

The level of French banks' CDSs does not currently present any risk for these institutions, probably because of a less aggressive monetary policy in Europe, which limits the damage. An acceleration of the rise in interest rates in Europe would threaten the French government's deficit, but it is i...

Grant Williams interviews Egon von Greyerz about the importance of wealth preservation in today's economy, emphasizing that global debt has tripled in the last 20 years, increasing risk exponentially. Von Greyerz believes that gold is the best way to protect oneself against this risk, as it has h...