In essence, fiscal policy flooded banks with artificially high levels of new deposits, forcing them into Treasurys. Then, monetary policy destroyed the value of those bonds in record time. It was a one-two punch.
I’m referring to the infrastructure, the payment pipes, that are about to be turned on in the U.S. to enable real-time, instant settlement of payments, from one financial institution to another, or from even one individual to another.
Some great research was published days ago that identified $2.2 trillion of losses, primarily driven by losses in mortgage-backed securities and U.S. Treasuries. That’s not a typo, $2.2 trillion. And not surprisingly, the insured deposit coverage ratio is the lowest for smaller banks.
Apple’s newest patent reveals another innovation in medical technology (MedTech), and it could result in massive savings in the healthcare industry. Apple is clearly making a big push into the MedTech space this year… But is there a bigger play at work here?
An incredible new study has introduced the concept of a massive “biological” supercomputer. This is something that’s long been imagined in the world of science fiction… And it has the potential to be just as powerful as today’s supercomputers and operate at just a fraction of the cost.
After the correction was over, I told them to get back in, giving them the chance to turn $1,000 into $40,550, $122,930, and even $761,330. Now, I’m issuing the most important warning of my career: An unprecedented event is about to hit the crypto market… one that will trigger an historic panic.
In this mailbag edition, Jeff breaks down how ChatGPT works and whether it is a threat to our private information. And one reader wants to know how the ”Fed Coin” will affect the entire digital currency system and investments in the sector when it rolls out.