Huge bank losses in the markets

[Declan]

There will be some craic when the markets open here in 2 hours.

 

[PlunkettsGhost]

Silver heading for 22 today

 

[Declan]

A very heavy day sees about 100000 contracts. Already there are 20000 traded.

SI=F is down -0.09% to $22.02. Check it out on Yahoo Finance: https://finance.yahoo.com/quote/SI=F.

 

[jpc]

It seems to HAVE GONE, just flopped 25%

Credit Suisse's biggest backer says can't put up more cash; share down by a fifth

The head of Credit Suisse Group's largest shareholder, Saudi National Bank (SNB) , said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds.

www.reuters.com

Genies out of the bottle. Deutsch Bank is another one to watch closely.
Heading for tense events.

 

[Declan]

20 minutes to fireworks

 

[PlunkettsGhost]

Dow down 600 just before the bell

 

[Anderson]

If you wanted to get a loan, get it done ASAP on a fixed interest!

 

[Coal Gas and peat]

If you wanted to get a loan, get it done ASAP on a fixed interest!

@valamhic was sitting on a big cheque over the weekend , he was nervous about lodging it

 

[Professor]

If you wanted to get a loan, get it done ASAP on a fixed interest!

Cheers, I'll take one, what are you offering%

 

[Declan]

Credit Suisse intends to borrow up to 50 billion Swiss francs from Swiss National Bank

The planned move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender's shares fell by as much as 30% on Wednesday. "Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity...

finance.yahoo.com

The planned move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss ...


That is big money

 

[Fishalt]

The planned move came after Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss ...


That is big money

Too big to fail is real. Credit Suisse defaulting would be fairly catastrophic, they won't let it happen.

I'm still seriously contemplating picking it up, which means I won't and will miss a 300-500% return on it in 2 to five years.

 

[Fishalt]

Credit Suisse's biggest backer says can't put up more cash; share down by a fifth

The head of Credit Suisse Group's largest shareholder, Saudi National Bank (SNB) , said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds.

www.reuters.com

Genies out of the bottle. Deutsch Bank is another one to watch closely.
Heading for tense events.

There is as much chance of Deutsche Bank defaulting as there is of Margot Robbie calling me tonight to ask me if she can come over dressed as Harley Quinn, cook me a chasu ramen, and sit on my face.

Forget about it.

 

[Fishalt]

Silver heading for 22 today

Stacking silver and calling oneself a trader is like rutting a fleshlight and telling everybody you hit perfect pussy every night.

The day I shadow penne ante metal bugs is the day I quit trading for good. The argument always boils down to something like this:

'Just you wait, faggot. Just you fuckin' wait until the apocalypse man. I'll be wiping my arse with your worthless Fiat and then go buy a lambo with a handful of indian head Pennies!

Yeaaaaah. In that scenario, your metals won't be worth shit. A crate of beans or two kilograms of bullets will be worth more than the stack in that wall safe you bought from aliexpress.

"It's got intrinsic value!'

Yeah, no shit. Not for you. You can't unlock it. You don't have the instrumentation to convert it into whatever high-tech capacity it is required for in various industries, sitting in the garden shed. What are you gonna do--hammer out a few ounces into the worst cuban-link chains ever made and flog them to the starving crowds huddled around burning car tyres, eating rats, during Armageddon? You can't eat it, you can't burn it, you can't drink it, you can't live in it. It is ostensibly worthless in such a scenario. Ironically, it in the aforementioned circumstance you'd be fucked due to a lack of extrinsic value.

Hell, silver isn't even a good hedge against inflation. Even gold is meh and silver is present in the world at factor of 19x that of gold. It just sits there and doesn't do shit for a decade and occasionally spikes only to average out to a fraction of what you could have made swing-trading.

Whole thing is retarded. You'd be better off tasking advantage of taxation inefficiencies through a super fund.

 

[jpc]

There is as much chance of Deutsche Bank defaulting as there is of Margot Robbie calling me tonight to ask me if she can come over dressed as Harley Quinn, cook me a chasu ramen, and sit on my face.

Forget about it.

Too big to fail is the term.
And it's a very valid point.
But what will be sacrificed to keep DB floating?

 

[Mad as Fish]

Too big to fail is the term.
And it's a very valid point.
But what will be sacrificed to keep DB floating?

You, me and every other sucker that can't get out of the EU fast enough.

 

[jpc]

You, me and every other sucker that can't get out of the EU fast enough.

That's sounds about right.

 

[Fishalt]

Too big to fail is the term.
And it's a very valid point.
But what will be sacrificed to keep DB floating?

Right. So here's my theory about this, having lived through the GFC etc et al. The answer is: Nothing. Nothing need be sacrificed. The 2000's taught me that the banking and finance sectors are invincible. They're basically like the facehugger stage of the xenomorph species in the Alien franchise. You can't rip them out without killing the host. Governments understand this. If banks fail, where do people get the money to buy things, take personal and business loans? The answer is they don't, and chaos ensues. The banks know the fed HAS to bail them out, otherwise everything collpases.

Zero-balance, fractional finance backed by an infinite money supply issued by a self-regulating bureaucracy is black magic.

The entire system is a giant ponzi-scheme stretching into infinity. Tomorrow will never come, because states have the power to issue their own fiat and are only ever in debt to themselves. There are no fixed lending or borrowing terms for state-issued fiat. It's an infinite loop. The only moderating power to market rates is inflation, and most people don't even really understand how this works.

Here's the thing: The Fed could print enough money to fill the stratosphere, and it wouldn't matter so long as the velocity of money in circulation is controlled. Everybody likes to laugh at the money printer go brrrrrrrrrrrrrrrrrrrrrrrr but the reality is, that shit works. In actuality, it's rarely ever--if ever--the case that over circulation of money is what drives up CPI. 99.5% of the time it's sociological or market-driven. Most of that number can be attributed to good ol' supply and demand. Generational inflation-creep is literally just a consequence of people having generally more money and wanting more shit.

'Ewmegahd! Houses cost 100000% more than they did in muh grandad's day!'

Yeah, ok. That was before union-creep and back then the value of labour was far less, there were less people, cheap rents, more space, and more house and land packages than there was demand, and outsourcing and globalization hadn't cornholed the west yet. Also your grandad didn't want a gaming pc, an x-box, he wasn't paying a net connection and a mobile phone bill and ad finitum,. Honestly, the amount of money in circulation hasn't had as much to do with it as people think.

 

[Fishalt]

Ok, that's it. I'm going to bed.

https://www.cnbc.com/2023/03/16/cre...on-swiss-national-bank-loan-announcement.html

 

[PlunkettsGhost]

Inflation is caused by government printing money above requirements in the economy. They say it is caused by
other things, but no, if money was not printed there could be no inflation; The current latest CPI in the US is

6.1 %

Looks like Swiss National Bank is providing the inevitable bail-out monies

 

[Declan]

Looks like Swiss National Bank is providing the inevitable bail-out monies

Yes, 50 billion.