Balaji Srinivasan Bets $2 Million The US Will Enter Hyperinflation In 90 Days
Balaji Srinivasan, former general partner at the venture capital firm Andreessen Horowitz, is issuing a bet with two individuals at $1 million a piece. The bet: bitcoin will reach $1 million in 90 days, signifying that the United States will enter hyperinflation. Answering a tweet by one James Medlock, Srinivasan took up the bait that […]
New Found Gold Hits 22.50 Metres Of 10 g/t Gold At Keats West
New Found Gold’s (TSXV: NFG) recently discovered Keats West zone has seen its footprint expanded after further drill testing. The expansion follows the completion of eleven additional drill holes at the zone. Highlights from the drill results include: NFGC-22-865: 61.76 g/t gold over 3.55 metres NFGC-22-922: 3.26 g/t gold over 16.60 metres, and 4.32 g/t […]
Base-Year Effect To The Rescue: Consumer Prices Continue To Decelerate, But Food Inflation Skyrockets
Canadian consumer prices continued increasing in February, albeit at a much slower pace thanks to base-year effects. Prices for food and shelter, however, aren’t showing signs of easing— in fact rather the opposite, to the horror of Canadians’ wallets. Latest data from Statistics Canada showed CPI rose 0.4% to 5.2% last month against January’s figure […]
Empower Clinics Enters Strategic Review After Cancelling Financing
Empower Clinics (CSE: EPW), a once-popular healthcare name among investors that provided diagnostic testing during the pandemic, indicated this morning that it is undertaking a strategic review to find a path forward. The review follows the firm cancelling a private placement yesterday that was initially announced in January. That financing looked to raise $2.0 million […]
E3 Lithium Reports 16.0 Million Tonnes Of LCE Measured And Indicated At Lithium Brine Project
E3 Lithium (TSXV: ETL) has a new mineral resource estimate in hand for its Bashaw District lithium brine asset. The estimate was established following drilling conducted last year coupled with “ongoing reviews and analyses of core samples.” At a high level, the revised estimate consisted of 6.6 million tonnes of lithium carbonate equivalent (LCE) in […]
QE Is Here: Major Central Banks Make Collective Effort to Boost US Dollar Liquidity
Brace yourselves: Quantitative easing is officially here. On Sunday night, the Federal Reserve— along with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, announced a coordinated effort to increase US dollar liquidity via the opening of daily swap lines— an exact repeat […]
First Majestic Suspends Mining At Jerritt Canyon Gold Mine
First Majestic Silver (TSX: FR) appears to be all but abandoning its Jerritt Canyon Gold Mine in Nevada. The firm this evening indicated that it is reducing investments and suspending mining activities at the mine in an effort to reduce overall costs. Acquired in 2021 from Sprott Mining, First Majestic paid $470 million for the […]
FDIC Fails to Attract Buyers for SVB, Prepares to Relaunch Auction
The Federal Deposit Insurance Corp (FDIC), which took over collapsed Silicon Valley Bank earlier this month, has failed to find a suitable buyer for the tech-focused lender, and is planning to relaunch the sale process in a desperate bid abdicate the receivership. According to people familiar with the matter cited by Reuters, the FDIC is […]
Jim Cramer Calls For First Republic Bank To Be Placed Into Receivership
Jim Cramer is looking for solutions to calm the ongoing financial sector crisis, with his latest call being to ringfence First Republic Bank (NYSE: FRC). The Mad Money host made the suggestion on Twitter after the bank has seen continuous volatility in the market following the collapse of three banks in the United States, along […]
Credit Suisse: Bondholders Left Empty-Handed While Equity Holders Get Paid
The details of UBS’ (NYSE: UBS) hastily arranged March 19 acquisition of Credit Suisse (NYSE: CS) could introduce even more unwanted uncertainty into the international banking system. The Swiss financial regulator Finma, which arranged the deal, called for the complete write-off of US$17 billion of Credit Suisse’s additional tier 1 (AT1) bonds. At the same time, […]