UBS Cites it May Fail | Silver’s New Fuel Cell Demand?

Win 500 Silver Eagle Coins. Enter here: SUBSCRIBE to Our Channel: So far in 2023, we have witnessed 5 US Banks go insolvent and be shut down by the FDIC. Currently, US banks are reported to be still sitting on over $1/2 trillion in unrealized losses on investment securities. Of course, there is no current estimate of collective losses on commercial loans for failing sectors like office space in major city centers, at least not yet anyway. The three-year rolling average losses for US long-term nominal bonds have been -25% this year, 2023 and -26% last year in 2022, respectively. One is left to wonder which of the major commercial banks may be closest to another outright failure. Perhaps the Global Systemically Important Bank that swallowed up recently failed Swiss bank behemoth Credit Suisse? Reports online today alleged that UBS, a tier-1 G-SIB cited delays in customer deposit withdrawals to its customers, explicitly citing ’unforeseen liquidity challenges’. The branch in this particular alleged correspondence is located in Basel, Switzerland. Two days ago, the current CEO of UBS, Sergio Ermotti, while speaking at a Swiss Risk Association event, stated, “Even in the unlikely event of something going wrong at UBS, we have enough cushion before even speaking about a resolution of the bank and its very unlikely risk of a loss for the taxpayer.“ Would UBS need to be rescued? Ermotti said a private buyer would continue to be preferable. Saying, “Of course, this would likely entail an international buyer.“ This is yet another reminder that no matter how sophisticated are gigantic a bank portends to be, you do not actually own the fiat currency in your bank account with them, and at any point in time, the bank may not even have the fiat currency available to fulfill your IOU if and when you demand it withdrawn. UBS CEO on who should buy them if they fail: The world as 1000 people graphic source: Clive Thompson - Gold buying by Central Banks is starting to accelerate: :li:activity:7132773787715956736 FT Falling inflation might not dent gold’s rally: Before we go, I want to remind you all out there that SDBullion is having a great Black Friday sale with low to no premiums on many investment-grade silver and gold bullion products while supplies last. At the moment, all customers can get a 5 oz silver bullion bar at-spot before we sell out on this inventory. Visit for Black Friday deals today and into the weekend. And keep your eye out for coming Cyber Monday bullion deals at early next week. That will be all for this week’s SD Bullion Market Update. As always, to you out there. Take great care of yourselves and those you love. Royalty-Free Music provided by: Beautiful Wonder – Alex-Productions ’Shadows and Dust’ by Scott Buckley - released under CC-BY 4.0.