It's all good, I was havin' a laugh. All media love crises This is the root of the issue, they absolutely should not be bailed out. It always comes to the point where Yellen or Bernanke say that if they don't bail them out, the sky will fall on us, Armaggedon, Mad Max etc... But they will be, because of TBTF. To my mind, this is not a new crisis, it's just the continuation of the GFC. But this time the spark that lit the fuse seems to be FTX + Sam Bankman-Fried, and he is sitting around his parent's mansion on house arrest until his trial in November. That XXXX needs a lethal injection, IMO, but all this dodginess exists due to TBTF, the "Fed Put" or whatever you want to call it.. In time, we will find out that other banks were not adequately managed, risks were not hedged... blah blah blah.
In any case, these are interesting times if you aren't burdened with too much debt and have money to invest. As long as they are able to kick the can down the road, but with inflation so stubbornly high and with CB credibility at all time lows, maybe this time it really is different?
No different, they are experts in kicking the can. Ignore all the noise and just keep buying the dip!
So the Saudi gave a big "F*** You" to Credit Suisse. It really would be nice to have enough money to say screw you, and the 9% we own. Unlike most other investors, they can actually wear the loss.
Don't count yer chickens yet. This has been playing out for months, it started with the FTX collapse and will continue to play out over the course of the year.
Same old shit at work today. Fatso shows up late and is ‘tired’, truck dropped a pallet of frozen product on the dock in the sun without telling anyone, someone who can’t speak English was assigned the critical paperwork, customer ran out of stock we promised. It’s a fukin crisis every day, bloody banksters hog the news.
Of cause, there was no talk of gold! I just told you gold and bullshit do not mix, was that a bit over your level of comprehension?
What a random thing to say, as far as I knew the only comments made on this thread have been in regards to the collapsing banking system and why it could be collapsing
^ I've been waiting for that bump. No CB will reduce it's balance sheet, because they know they are the only market back stop. We should see commercial banks deposits increase soon. I'm guessing the FED's balance sheet will be up in the double digit Trillions soon. Looks like the game will be higher rates = higher inflation. Increasing rates without limiting money supply is just throwing fuel on a fire.
This is one area Joseph Wang was flat out wrong. He is still a bit wet behind the ears. Looks like political influence will do the same to Powell as it did to Arthur Burns.
Good time to revisit one of Richard Werner talks. Richard would be disgusted with how centralised our banking system is in socialist Australia.
Heck might as well nationalize it all. To save the system ya know. Definitely part of the plan i think.
Holy crap, she's painful to watch. I watched about 2 mins from the linked point. The guy asks pretty straight questions and she is a bumbling mess. She doesn't wanna be straight up.
