The figures are out and it looks like the United States exported a record amount of gold to Hong Kong in January. Not only was this a one month record… it was a WHOPPER indeed.
Last year, the U.S. exported a total of 215 metric tons of gold bullion to Hong Kong. This was not the total amount of gold exported to Hong Kong as some smaller quantities of Dore’ and precipitates made their way into the country as well. Continue reading
SD contributor AGXIIK warned readers months ago about the FDIC’s expanded deposit insurance which was set to expire Dec 31st, predicting that the expiring expanded deposit insurance enacted in the wake of the 2008 financial panic could trigger a bank run. Many scoffed at the report and its implications, due to the fact that the story received zero attention by the likes of Bloomberg, CNBC, or even ZH.
It appears that the expiring expanded FDIC insurance has in fact triggered a massive deposit withdrawal at the nation’s largest banks, as the Fed is reporting that $114 billion were withdrawn from the largest 25 US banks over the first week of January, the largest fund outflow since the 9/11 attacks, even exceeding the pace of the outflow during the 2008 financial panic! Continue reading