According to the AFR there are still lots of problems with the banking sector in the US as well (see my post on this in Price of Gold from yesterday).
It took many months for the initial problems in the banking sector in the GFC to spread and reach its ultimate position ie it took a full 6 months from the collapse of Bear Stearns to the collapse of Lehman Brothers and even later there were problems with AIG.
It also takes a full 18 months to see the full impact of a rate increase - ie we have not even felt the full impact of teh Fed’s first rate increase for a year ago alone the increases in the last 4 months.
Falls in commercial property values may gain pace and that will have a major impact on the banking system.
The fall of SVB and CS may just be the first Act. Watch this space.
All of the this action will be great for POG - we may find POG soaring in the rest of 2023.
According to the AFR there are still lots of problems with the...
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55.0¢ |
Change
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| Open | High | Low | Value | Volume |
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Change
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