Financial Institutions

[Foxx]

This needs to go here as well.

 

Lol. Can you say corrupt? Socialism at it's finest.

 

[Foxx]

I swear Universe has a wry sense of humor.

 

[Nouseforaname]

18 minutes ago, Foxx said:

I swear Universe has a wry sense of humor.

 

I get putting cfa on your CV but on twitter ?

[Nouseforaname]

https://www.wsj.com/articles/credit-suisse-says-it-will-borrow-up-to-50-billion-swiss-francs-ac469cc3
 

Seek­ing to set it­self apart from SVB Fi­nan­cial Corp., the par­ent of Sil­i­con Val­ley Bank, which failed last week fol­low­ing the flight of a quar­ter of its de­posit base in a sin­gle day, Credit Su­isse said it “is con­ser­v­a­tively po­si­tioned against in­ter­est rate risks.”
 

Un­like SVB, which held a large, largely un­hedged port­fo­lio of long-term bonds whose mar­ket value was dec­i­mated by ris­ing in­ter­est rates, Credit Su­isse said its “vol­ume of du­ra­tion fixed in­come se­cu­ri­ties is not ma­te­r­ial” rel­a­tive to its hold­ings of high-qual­ity liq­uid as­sets such as Trea­surys and Ger­man bunds. The bank said it “is fully hedged for moves in in­ter­est rates.”
 

 

…

 

Let’s see how the market reacts.

[Nouseforaname]

7 hours ago, Nouseforaname said:

https://www.wsj.com/articles/credit-suisse-says-it-will-borrow-up-to-50-billion-swiss-francs-ac469cc3
 

Seek­ing to set it­self apart from SVB Fi­nan­cial Corp., the par­ent of Sil­i­con Val­ley Bank, which failed last week fol­low­ing the flight of a quar­ter of its de­posit base in a sin­gle day, Credit Su­isse said it “is con­ser­v­a­tively po­si­tioned against in­ter­est rate risks.”
 

Un­like SVB, which held a large, largely un­hedged port­fo­lio of long-term bonds whose mar­ket value was dec­i­mated by ris­ing in­ter­est rates, Credit Su­isse said its “vol­ume of du­ra­tion fixed in­come se­cu­ri­ties is not ma­te­r­ial” rel­a­tive to its hold­ings of high-qual­ity liq­uid as­sets such as Trea­surys and Ger­man bunds. The bank said it “is fully hedged for moves in in­ter­est rates.”
 

 

…

 

Let’s see how the market reacts.

20% gain today.  We’ll see if there’s any more news.

[IDBillzFan]

 

[Foxx]

FRC trading was halted about an hour ago, just before it was reported that they are pulling a Credit Suisse.

 

[Foxx]

15 hours ago, Nouseforaname said:

https://www.wsj.com/articles/credit-suisse-says-it-will-borrow-up-to-50-billion-swiss-francs-ac469cc3
 

Seek­ing to set it­self apart from SVB Fi­nan­cial Corp., the par­ent of Sil­i­con Val­ley Bank, which failed last week fol­low­ing the flight of a quar­ter of its de­posit base in a sin­gle day, Credit Su­isse said it “is con­ser­v­a­tively po­si­tioned against in­ter­est rate risks.”
 

Un­like SVB, which held a large, largely un­hedged port­fo­lio of long-term bonds whose mar­ket value was dec­i­mated by ris­ing in­ter­est rates, Credit Su­isse said its “vol­ume of du­ra­tion fixed in­come se­cu­ri­ties is not ma­te­r­ial” rel­a­tive to its hold­ings of high-qual­ity liq­uid as­sets such as Trea­surys and Ger­man bunds. The bank said it “is fully hedged for moves in in­ter­est rates.”
 

 

…

 

Let’s see how the market reacts.

Defacto nationalization.

 

So, the Swiss Central Bank has said it will provide Credit Suisse with 50bn+...

 

 

They might be too big to fail, but they also might be too big to rescue.

 

JPM thinks they will be nationalized too.

 

[Foxx]

[Foxx]

Gender Fluid

 

[Foxx]

David Sacks lays it out very well.

 

[Foxx]

Fractional Reserve Banking

[Foxx]

A Globally Agreed Regime...

 

 

 

European regulators criticise US ‘incompetence’ over Silicon Valley Bank collapse

 

 

[Ann]

One of the problems I see in the United States with trying to push people to a digital currency, is coins and currency are legal tender in the United States. Congress would have to pass a law to outlaw that, no?  While private businesses can choose to accept digital over paper, will they? 

[Foxx]

30 minutes ago, Ann said:

One of the problems I see in the United States with trying to push people to a digital currency, is coins and currency are legal tender in the United States. Congress would have to pass a law to outlaw that, no?  While private businesses can choose to accept digital over paper, will they? 

There is an end around all that... how would you make the (m)asses scream for CBDC's? Why... you might inflate the dollar into oblivion so it is essentially worthless and come out with a new "currency" that has the full and complete backing of the .gov.

 

With that in mind, I just came across some further validation to my earlier suspicions and those of Barney Frank (I'm not a fan of, btw). The posts in question:

 

On 3/12/2023 at 8:16 PM, Foxx said:

 

Something kind of funny with the three bank closures...

 

 

 

On 3/14/2023 at 5:52 AM, Foxx said:

These were my thoughts...

 

 

The validation of those egregores:

Image 1

 

Image 2

 

Lastly, it is being rumored that the FDIC is requiring that whomever buys Signature, bank disallow any and all crypto business.

[Ann]

7 minutes ago, Foxx said:

There is an end around all that... how would you make the (m)asses scream for CBDC's? Why... you might inflate the dollar into oblivion so it is essentially worthless and come out with a new "currency" that has the full and complete backing of the .gov.

 

With that in mind, I just came across some further validation to my earlier suspicions and those of Barney Frank (I'm not a fan of, btw). The posts in question:

 

 

 

The validation of those egregores:

Image 1

 

Image 2

 

Lastly, it is being rumored that the FDIC is requiring that whomever buys Signature, bank disallow any and all crypto business.

 

 

It all still has to get through Congress, regardless of whatever end arounds are being tried. 

What you posted seems to be the opposite of what you are suggesting. Unless you mean crypto is the alternative to government digital and not crypto vs coin/currency? 

 

[Nouseforaname]

2 hours ago, Foxx said:

Defacto nationalization.

 

So, the Swiss Central Bank has said it will provide Credit Suisse with 50bn+...

 

 

They might be too big to fail, but they also might be too big to rescue.

 

JPM thinks they will be nationalized too.

 

Switzerland is basically chocolate and banking.  I’m not surprised that the government would do everything in their power to prevent failure.

 

Roubini is dr doom for a reason.   He’s effectively joe in a game day thread.

[Foxx]

1 hour ago, Nouseforaname said:

Roubini is dr doom for a reason.

I really don't see his statement as anything other than fact.

[Foxx]

2 hours ago, Ann said:

What you posted seems to be the opposite of what you are suggesting. Unless you mean crypto is the alternative to government digital and not crypto vs coin/currency? 

CBDC's, while crypto, are a complete 180 from what crypto was intended to be.

CBDC's are a complete and total control mechanisim. 

Bitcoin is freedom from the system.

[Nouseforaname]

9 minutes ago, Foxx said:

I really don't see his statement as anything other than fact.

Correct but he’s always negative.  My point is, it’s always good to listen to someone who will give you a specific perspective but you should also factor in that it’s always going to be slanted negative.