Credit deflation and the reflation cycle to come (part 5)

[Noallegiance]

19 minutes ago, dnb24 said:

 

Not looking good for WAL

 

Edit1 -and trading has been halted.

 

Edit 2- Charles Schwab and First republic halted too.

This kind lady highlighted that these figures were after 17 mins trading thus morning 

 

[HousePriceMania]

[HousePriceMania]

42 minutes ago, Long time lurking said:

Does this mean it`s game over ?

 

It's really bad then

[honkydonkey]

9 minutes ago, HousePriceMania said:

It's really bad then

[HousePriceMania]

1 hour ago, Sugarlips said:

 

 

What's the scam/mechanism for getting the tax payers money then ?

2 minutes ago, honkydonkey said:

Apple up.

[F150]

Is it happening?

does halting mean they are bankrupt

[King Penda]

55 minutes ago, ThoughtCriminal said:

I think senator Massive just let slip that this thing is about to blow

They will go for this for the greater good of society just has they would if Muslims started blowing themselves up on a weekly basis in the uk .  Ie news blackout move on move on nothing to see here

[DurhamBorn]

Just bought some more Blackrock Latin America ,Telefonica Brazil,CIG,SEDY,Telia,Braskem,Ultrapar,Ubisoft.

 

[King Penda]

21 minutes ago, HousePriceMania said:

It's really bad then

Is it worth cranking the tv up and wading through hundreds of African stations to find it ?(ie bloom thingy) How I miss you bongo bongo tv

Edited March 13, 2023 by King Penda

[baffledbyzirp]

Gold has broken through the $1900 figure.

It appears that all the assurances given by the great and the good have fallen on death ears. The main issue presently is fear. After Lehman and Northern Rock it is clear that the best time to panic is early. If the contagion spreads to High Street banks then the whole shit show could implode, especially since most people have no faith in the statements made by politicians whose agendas are driven by self-interest. Mario Draghi revealed their propensity to falsehood, "when things get really serious you have no alternative but to lie."

GLA there look to be some decent buys appearing including Glencore and some of the asset managers but it takes guts or stupidity to jump in at this point.

[marceau]

9 minutes ago, DurhamBorn said:

Just bought some more Blackrock Latin America ,Telefonica Brazil,CIG,SEDY,Telia,Braskem,Ultrapar,Ubisoft.

 

I made some buys today. I notice the crypto sector is rallying - doesn't look like much of a systemic risk event to me.

Made the mistake of looking at twitter - the world is about to END, apparently.

Edited March 13, 2023 by marceau

[Errol]

1 hour ago, Long time lurking said:

Does this mean it`s game over ?

 

The fact that they think a Presidential address is needed tells everyone that the system is completely unsafe.

[marceau]

19 minutes ago, F150 said:

Is it happening?

does halting mean they are bankrupt

It means

1. the crisis is real and out of control

or

2. hype chasers & speculators are about to get a lesson in state power.

My bet is on 2, but of course I could be very wrong. 

[Errol]

5 minutes ago, marceau said:

It means

1. the crisis is real and out of control

or

2. hype chasers & speculators are about to get a lesson in state power.

My bet is on 2, but of course I could be very wrong. 

It will mean both.

[HousePriceMania]

7 minutes ago, Errol said:

The fact that they think a Presidential address is needed tells everyone that the system is completely unsafe.

[Majorpain]

8 minutes ago, Errol said:

The fact that they think a Presidential address is needed tells everyone that the system is completely unsafe.

 

[Majorpain]

Seems Banks gorging on bonds has gone rather badly when those same bonds face interest rates at a more "realistic" level.  By the look of things this isn't one bank making terribly bad lending decisions as previous, and all banks are going to have the same mark to market loss problem.

Any opinion on Fed having to pump bond prices or this sucker is going down?

[F150]

They should keep raising rates IMO

[darkmarket]

30 minutes ago, F150 said:

Is it happening?

does halting mean they are bankrupt

It's imposed on a technical basis, so superficially it only reflects the volatile movement in price.

You need to look at what explains the price movement: in this case, the nature of the assistance to SVB and the banking system made it clear that equity holders were at risk. The UK's solution of resorting to a HSBC takeover leaves room for some ambiguity, but in any case the UK has far fewer small- and medium-sized banks, so it leads directly to the question of state bailouts. We know the post-2008 resolution process was not trusted and not allowed to function.

Whether shareholders are also acting on knowledge of movements of deposits is an interesting question.

I noticed the UKpersonalfinance subreddit remove a question on bank stability on Friday. It's a serious question and burying one's head in the sand and censoring retail bank clients' questions is unlikely to prove reassuring. I assume senior management teams in businesses across the UK have been discussing the problem, and are likely moving deposits as we speak.

[HousePriceMania]

5 minutes ago, F150 said:

They should keep raising rates IMO

It gets interesting when all the people with Guns in NYC can afford food.

[sleepwello'nights]

2 hours ago, WICAO said:

Then where do you put it?  Genuine question.

Full disclosure: I stay under the bank compensation limits and diversify my wealth.  As a family we currently have 4.5 years of spending in Savings Accounts with Banks.

Exactly we have little real choice. If the banks do implode we'll have far more to worry about than keeping track of the computer generated digits in our bank accounts.

[Castlevania]

41 minutes ago, DurhamBorn said:

Just bought some more Blackrock Latin America ,Telefonica Brazil,CIG,SEDY,Telia,Braskem,Ultrapar,Ubisoft.

 

Ubisoft? 

[M S E Refugee]

Wasn't it the Russian economy that was supposed to implode . 

[Chewing Grass]

12 minutes ago, M S E Refugee said:

Wasn't it the Russian economy that was supposed to implode . 

Project Managers at work are running around frantically today as they have a big piece of equipment 70% made at a company in Spain who is expected to go bankrupt due to having two massive multi-million euro contracts with Russian Companies they can't deliver on and thus can't get paid for.

They have run out of operating funds and can't pay their sub-contractors and suppliers as well.

[kibuc]

Bitcoin +20%

Safe haven status confirmed.

Or maybe people are dumb as fuck.

Or perhaps I am.

Edited March 13, 2023 by kibuc