In a move reflecting growing concerns over the stability of the American economy, several African and Middle Eastern nations have begun withdrawing their gold reserves from the United States in recent months. This trend marks a significant shift in global economic dynamics and underscores the increasing skepticism among nations regarding the traditional safe haven status of the US dollar and American financial institutions.

The decision to repatriate gold reserves is not merely symbolic; it reflects a deeper unease among these nations about the trajectory of the American economy. Among the countries taking such actions are Nigeria, South Africa, Ghana, Senegal, Cameroon, Algeria, Egypt, and Saudi Arabia, each representing crucial regions in Africa and the Middle East. Their actions are prompting questions about the future of the US dollar as the world’s primary reserve currency.

African and Middle Eastern Nations Withdraw Gold Reserves Amid American Economic Concerns

ByJillian Bennett
APR 24, 2024

In a move reflecting growing concerns over the stability of the American economy, several African and Middle Eastern nations have begun withdrawing their gold reserves from the United States in recent months. This trend marks a significant shift in global economic dynamics and underscores the increasing skepticism among nations regarding the traditional safe haven status of the US dollar and American financial institutions.

The decision to repatriate gold reserves is not merely symbolic; it reflects a deeper unease among these nations about the trajectory of the American economy. Among the countries taking such actions are Nigeria, South Africa, Ghana, Senegal, Cameroon, Algeria, Egypt, and Saudi Arabia, each representing crucial regions in Africa and the Middle East. Their actions are prompting questions about the future of the US dollar as the world’s primary reserve currency.

African and Middle Eastern Nations Withdraw Gold Reserves Amid American Economic Concerns

ByJillian Bennett
APR 24, 2024

China’s US Treasury Holdings Becoming ‘Hostages,’ Academic Warns

China’s US Treasury Holdings Becoming ‘Hostages,’ Academic Warns

China’s US Treasury Holdings Becoming ‘Hostages,’ Academic Warns

No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen
But American treasury secretary says the policy option is something Washington ‘would be prepared to use if necessary’
Yellen’s remarks come as top US diplomat visits China and both sides scale up official contacts to keep relations from fraying

No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen
But American treasury secretary says the policy option is something Washington ‘would be prepared to use if necessary’
Yellen’s remarks come as top US diplomat visits China and both sides scale up official contacts to keep relations from fraying

No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen
But American treasury secretary says the policy option is something Washington ‘would be prepared to use if necessary’
Yellen’s remarks come as top US diplomat visits China and both sides scale up official contacts to keep relations from fraying

In the future, will the US seize the whole China foreign exchange reserves like what did to Russia? Borrow money and do not need to pay back the money with interest rate.

In the future, will the US seize the whole China foreign exchange reserves like what did to Russia? Borrow money and do not need to pay back the money with interest rate.

Reports suggest US has ‘preliminarily discussed sanctions on some Chinese banks’ over their trade with Russia
Analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade

Reports suggest US has ‘preliminarily discussed sanctions on some Chinese banks’ over their trade with Russia
Analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade

UEM Edgenta Berhad, the region’s leading asset management and infrastructure solutions company, announced a 16.2% increase in net profit to RM28.6mil in the nine months ended Sept 30, 2023, on the back of a higher revenue of RM2.07bil (RM1.81bil 9M FY2022) – reflecting its resilience and ability to renew and win new contracts from its existing client base as well as new clients and growth markets.

Perlis juga.

Macam Kedah, Kelantan dan Terengganu. Perlis juga.

Macam Kedah, Kelantan dan Terengganu.

Adakah Selangor akan menjadi negeri suci?

Adakah Selangor akan menjadi negeri suci?

Wells Fargo customers report missing deposits from their bank accounts

Wells Fargo customers report missing deposits from their bank accounts

PUTRAJAYA: Thousands of high value and skilled job opportunities will be created from investments by Tesla and SpaceX, says Prime Minister Datuk Seri Anwar Ibrahim.

He said Elon Musk, the founder and chief executive officer of Tesla and SpaceX, agreed to make significant investments in the country, including setting up a Malaysia office for Tesla in Cyberjaya soon.

FDIC Approves Final Rule on the Definition of Deposit at Foreign Branches of U.S. Banks to Clarify That These Deposits are Not Insured by the FDIC

FDIC Approves Final Rule on the Definition of Deposit at Foreign Branches of U.S. Banks to Clarify That These Deposits are Not Insured by the FDIC

FDIC Approves Final Rule on the Definition of Deposit at Foreign Branches of U.S. Banks to Clarify That These Deposits are Not Insured by the FDIC

Higher deposit interest rates mean higher risk

New York
CNN
—
Shares of PacWest Bancorp tumbled Thursday after the regional bank reported that customers had recently drawn down about 9.5% of total deposits.

The bank’s stock briefly fell 30% before being halted for volatility Thursday. Shares resumed trading and finished down about 23%.

PacWest is one of several mid-size lenders that has been under intense scrutiny in the weeks since Silicon Valley Bank collapsed on March 10, setting off a panic around the financial stability of similarly positioned banks.

“PacWest is starting to look like the weakest link and some traders are wondering if they will fail or have a sale,” said Ed Moya, a senior market analyst at Oanda.

Source: CNN

New York
CNN
—
Shares of PacWest Bancorp tumbled Thursday after the regional bank reported that customers had recently drawn down about 9.5% of total deposits.

The bank’s stock briefly fell 30% before being halted for volatility Thursday. Shares resumed trading and finished down about 23%.

PacWest is one of several mid-size lenders that has been under intense scrutiny in the weeks since Silicon Valley Bank collapsed on March 10, setting off a panic around the financial stability of similarly positioned banks.

“PacWest is starting to look like the weakest link and some traders are wondering if they will fail or have a sale,” said Ed Moya, a senior market analyst at Oanda.

Source: CNN

New York
CNN
—
Shares of PacWest Bancorp tumbled Thursday after the regional bank reported that customers had recently drawn down about 9.5% of total deposits.

The bank’s stock briefly fell 30% before being halted for volatility Thursday. Shares resumed trading and finished down about 23%.

PacWest is one of several mid-size lenders that has been under intense scrutiny in the weeks since Silicon Valley Bank collapsed on March 10, setting off a panic around the financial stability of similarly positioned banks.

“PacWest is starting to look like the weakest link and some traders are wondering if they will fail or have a sale,” said Ed Moya, a senior market analyst at Oanda.
Source : CNN

Us can vacuum the hot money back to us. Sure they very happy

Us will be very happy as hot money flow back to us

Us will be very happy as hot money flow back to us

The Star

Credit Suisse bond holders in S’pore join lawsuit to seek US$100mil

The Star

Credit Suisse bond holders in S’pore join lawsuit to seek US$100mil

Credit Suisse bond holders in S’pore join lawsuit to seek US$100mil

The Star

Janet Yellen almost ruled out minting a trillion-dollar platinum coin to avoid a national debt default, but didn’t really: ‘No good options’
:fortune.com

Janet Yellen almost ruled out minting a trillion-dollar platinum coin to avoid a national debt default, but didn’t really: ‘No good options’
:fortune.com

Countdown started.............

US could default by June 1 unless debt ceiling is raised; Biden looks to meet with Congress

Source : abc news

US could default by June 1 unless debt ceiling is raised; Biden looks to meet with Congress

Source : abc news

US could default by June 1 unless debt ceiling is raised; Biden looks to meet with Congress

Source : abc news

Wall Street ends down as PacWest fuels fears of deeper bank crisis
Source: Reuters

Wall Street ends down as PacWest fuels fears of deeper bank crisis
Source: Reuters

Wall Street ends down as PacWest fuels fears of deeper bank crisis
Source: Reuters

Mirror mirror on the wall, which banks will be the NEXT

Next to collapse?

PacWest Stock Falls 55% in After-Hours Trading

PacWest shares plummet 50% as it explores potential sale
California lender is latest to seek financial lifeline amid worst industry crisis since 2008