MarketWatch/Noriel Roubini/3-31-2023

“Bank-sector stress makes a stagflationary debt crisis more likely and potentially more severe……”

USAGOLD note: Roubini weighs in on the banking crisis with this must read analysis. The banking system is sitting on a powder keg. “The ‘unrealized’ nature of these [unrecognized bond market] losses,'” he says, “is merely an artifact of the current regulatory regime, which allows banks to value securities and loans at their face value rather than at their true market value.”