Discussion in 'Markets & Economies' started by bretto, Mar 13, 2023.
Latest release: https://www.federalreserve.gov/releases/h8/current/
7 April's release should see the figures for the whole of March, currently up to 8/3.
An interesting take on the recent bank failures in this video from Richard Kiyosaki
Interestingly, the Wall Street Jurnal waited till after the close of trade on Friday to announce that 186 other banks could suffer
the same fate as Silicone Valley Bank.
I think next week it's going to be another wild week in all the financial and precious metal markets.
Hold on to your hats!
Bob Moriarty explains the financial situation we find ourselves in better than most talking heads, always a pleasure listening to him.
The entire banking system is bankrupt, says Bob Moriarty. "All banks are at risk." Gold spiked on Friday as investors rushed towards real assets. He discusses how the real problem is the one nobody is talking about yet: the derivative bubble. Derivatives have introduced unprecedented counter-party risk into the system. The solution? "You cannot have an honest economy without honest money."
I'm having trouble finding the clip, but Yellen testifying to the senate has said they won't be bailing out every bank and basically chucked the smaller rural banks under the bus, by saying there priority would be to support the banks that are too big to fail. I know where I'd be heading Monday morning if I banked with a minor.
Probably won't add many numbers to those withdrawing funds, but the talk is that Trump will be arrested on Tuesday over the Stormy Daniels payoff, and some MAGA followers are calling for a hit where it hurts and to join (or start ) a bank run and "hit them where it hurts". Part of the thinking being that any riots would likely be led by Fed Bois and Antifa wearing MAGA hats.
Yellen video has been posted elsewhere on this forum, she did a shit job but the video didn't shed any further light on what Treasury, The Fed or the FDIC will do regarding bank bailouts
The news about Trump is not connected to the banking news.
Edit to add: though I couldn't rule out the possibility that the attempts at drawing a long bow between the Treasury's bailout of Dem friendly depositors and the Trump issue could have some merit. Though I doubt The Fed would be complicit in such a plan.
The Yellen clip is shown within the Rich Dad Radio show (within first few minutes) posted by herkyderky at 6:46am today in this thread. The whole discussion is worth watching.
It is going to be interesting to see what happens when the new week starts in the US.
They know the state of the banking system of course.
They had plans for when it happened and they knew it would. None of this is an accident.
UBS IS SAID TO OFFER $1 BLN FOR CREDIT SUISSE'S EQUITY, BUT CREDIT SUISSE IS SAID TO BE PUSHING BACK AGAINST UBS'S OFFER.
UBS Offers To Buy Credit Suisse For $1BN, 0.25 Per Share
CS Balks At Offer
1 billion that's a slap in the face really, shareholders would get burned...
There is talk of a deal that will get done with UBS upping the ante to at least 4 billion before Mondays open.
Don’t forget that other distraction… A warrant for Putins arrest. I bet he’s having a good little chuckle to himself on that one
The shit is starting to hit the fan guys, all the central banks are panicking, good luck to everyone.
THE BANK OF CANADA, THE BANK OF ENGLAND, THE BANK OF JAPAN, THE EUROPEAN CENTRAL BANK, THE FEDERAL RESERVE, AND THE SWISS NATIONAL BANK HAVE JUST ANNOUNCED A COORDINATED ACTION TO ENHANCE THE PROVISION OF LIQUIDITY VIA THE STANDING U.S. DOLLAR LIQUIDITY SWAP LINE ARRANGEMENTS.
^ so more or less the same stuff they have been doing since the GFC. All central banks increasing the digits on their computers and then acting surprised about inflation.
I'm struggling to see an increase in CB liquidity swaps creating price inflation. I see a correlation between large changes in government spending and inflation.
The way I read it was that she didn't want to offer the same insurance to all banks because she knows she only has 125bn in Insurance and the FDIC has 9.5t in deposits that would need to be covered. But at the same time, she left the door open to any bank of their choosing getting the golden parachute if they feel letting it fail will have systemic collapse risk. aka. They get to bail out who ever the F they feel like and who has greased the palms of the right people over the years.
The points raised by Kiyosaki and Schectman about this crazy bitch and her MMT theory and setting things up so that all that's left is the large commercial banks. Then they would just need to let one of them fail and only offer a Fed Coin as a bailout. Boom a Fed Coin enforced on everyone. That shit is scary and is something every person should forcefully push back against. AKA if your government even hints at going down this path, it should be overthrown by force immediately .
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