“DB’s CDS has widened by virtually the same as UBS’s over the last month, even though it has not had to digest a rival with $575 billion in assets over a weekend.” -ZH
Janet Yellen admitted to Congress that SHE and other government officials determine which banks are systemic, and which are not.
Below are the entities that paid her over $7MM in “speaking fees” before her time at Treasury.
Banana Republic stuff.
Originally tweeted from @EnergyCynic on Twitter
A “fun” quote from a recent (pay-walled) ZH article:
“... and at exactly 5pm the Fed announced "coordinated central bank action to enhance the provision of U.S. dollar liquidity" by opening daily Dollar Swap lines with all major central banks, in a carbon copy repeat of the Fed's panicked post-covid crisis policy response playbook. And once the USD swap lines are reopened, the rest of the cavalry follows: rate cuts, QE (the real stuff, not that Discount Window nonsense), etc, etc. In fact, we have already seen a near record surge in reserve injections”
Cue the Andy Bernard meme:
“Nailed it”
“186 BANKS AT RISK OF BANKRUPTCY”- WSJ
But how, they’ve decided to backstop everything and honor the bonds at par 🤷♂️
How can anyone take this fractional reserve system seriously…
Bail-outs and “free money” have been completely conditioned and normalized amongst the majority of the population. That’s why they won’t participate in the asymmetry that’s going to occur.
Super pumped to have #[0] art hanging on the wall at #[1] ! Thanks to #[2] for being so kind to display it.
“The Fed won't disclose the names of the banks using the BTFP for two years”…
What a cesspool
So m2 is effectively m0 based on this new facility and action to backstop everyone, BUT as long as they still control the SLR, they still control the flood gates of digital units that make their way into the economy.
Jim Cramer is Jamie Dimon’s little toadie.
Yes that was really good, wasn’t it!
I watched the GPT-4 launch yesterday. The guy takes out a notepad and draws a concept sketch of a website about jokes. He takes a picture of the notepad and provides it to GPT-4. It then interprets the picture, writes the code for the website, and then the website works.
Things are getting strange. That’s why I’m so happy to be a part of this BTC community - because y’all make it feel normal. 🤣
As my first act, I dissolve the chair into perpetuity.
Ha ha!!
Can I bring virtual mustard and Ketchup to squirt on your art work for being upset with the energy cost to run my oculus?
I’ve been eyeing up a skittle in the kitchen…
So now US banks are inflation hedged across their entire bond portfolios on their balance sheet….for free….whether they were managing that risk or not….
I wonder what “interesting” incentives will pop out of this…🤔🤔😳😳😳😳
There’s a reason Nostr has “emerged” as a solution as of late. The trend for more censorship is only beginning to heat-up.
Wen Times cover with Powell adjusting his cufflinks and a headline that reads, “The Softish Savior”?
Yellen Says Government Will Help SVB Depositors But "No Bailout" As Fed, FDIC "Hope" Talk Of Special Vehicle Prevents More Bank Runs
Soooo….let’s keep raising rates…which will keep obliterating the market value of mid to long duration treasures…which are mandated to be held by all the banks HQLA at 100% due to laws from the Great Financial Crisis….*AND* …we’ll create a new backstop for any banks that also fail like SVB along the way…
People this is total desperation…Hail Mary pass…to regain control of the train that has already run off the cliff…
