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Comments
Last nights show waa great people need to know the bad whether they wanna hear it or get offended. They need to know shit storm coming their way to prepare.
Great job.. thanks
Last nights show waa great people need to know the bad whether they wanna hear it or get offended. They need to know shit storm coming their way to prepare.
Great job.. thanks
https://www.msn.com/en-us/money/companies/credit-suisse-to-borrow-54-billion-from-swiss-central-bank/ar-AA18GNBu?OCID=ansmsnnews11
Looks like the regulators found out it would be too damaging on other banks to let Credit Suisse sink.
Thank God. Maybe there won't be a meltdown after all, ....at least not yet.
"...Credit Suisse reported earlier this week that managers had identified “material weaknesses” in the bank’s internal controls on financial reporting as of the end of last year. That fanned new doubts about the bank’s ability to weather the storm.
Credit Suisse is “a much bigger concern for the global economy” than the midsize U.S. banks that collapsed, said Andrew Kenningham, chief Europe economist for Capital Economics..."
Last week the Government of British Columbia, Canada, announced legislation to “correct outdated language.” Apparently, it’s so trans and non-binary people can’t be “erased” by laws that use only “he and she.”
But that’s not what this legislation is doing. What it is doing is signalling to women that we shall continue to lose protections under the law.
https://expose-news.com/2023/03/15/restructuring-english-to-dumb-down-the-population/
"Woke rule" has transformed every institution into a cabal of incompetent woke cultists who have no clue what they are doing: Government, finance, medicine, science, education, media, geopolitics and more. They are collapsing everything in sight as they demand the world bows down to their woke cult parade of clowns who are clueless, arrogant and stupid.
Credit Suisse is about to collapse. When it does, the contagion risk to US banks will be in the trillions of dollars. Emergency money printing will be initiated to "rescue" the banking sector, setting off a future hyperinflation event from which western finance will never recover.
The end game is now clear.
https://www.brighteon.com/1b197bd0-bc94-4e96-bb7d-add0d4fe9c4e
However, if you ever experience something supernatural, or preternatural, your faith will skyrocket. I encountered a demonic entity a few years ago. At first I didn't know what it was. My brain was confused and couldn't understand what I was seeing, but you could feel that it was BAD. At the very mention of Jesus's name--it cowered and disappeared. Only with the mention of his name. That event increased my faith 1000x. But I've thought to myself, what if NOTHING happened at the mention of his name??? Perhaps I would have sought out a different religion...
“Accidental Banking System Failure? Don’t Believe It”
March 15, 2023
Gregory Mannarino writing for the Trends Journal:
“Today the world economy is in an accelerating freefall, teetering
on a knife’s edge, being deliberately pushed off the financial cliff
by central banks who are collectively attempting to crush the
existing system only to issue in a new one.”
“The greatest threat? The collapse of smaller/regional banks will
allow the MEGA banks to consolidate power.”
“And where were the banking regulators in all this? “
“Or is it possible that the regulators did see this coming, and they
just turned a blind eye. Remember this, in the current environment
NOTHING is what it seems to be.”
“Moreover, as a reality check, understand… there is absolutely no
way that the Federal Reserve nor the US Treasury could not have
seen this coming.”
“The collapse of SVB, and there will be others, creates a “fire sale”
opportunity for the major banks. Not a single major bank stepped
in to save SVB because now this collapse presents them with a
MAJOR opportunity to now be able to acquire assets from this
collapse for next to nothing, pennies on the dollar.”
“In my opinion, we are about to see a consolidation of the entire
banking system accelerate, with more power, and more assets
concentrated in the Wall Street Super Banks. ANY “contagion”
regarding regional/smaller bank failures will of course allow for
the Too Big To Fail institutions to get MUCH bigger.
Do you really believe that any of this is by accident? And no
one saw this coming?
EXPECT MORE REGIONAL/SMALLER BANKS TO FAIL.”
MORE:
https://kingworldnews.com/accidental-banking-system-failure-dont-believe-it/
.
you can not hold the precious metals yourself. They have to be held in a federally recognized depository. Thus you can not get your hands on them quickly if there is a crash. The Fed's will be all over those places with guns, to loot that wealth. "If you don't hold it you don't own it".
Now since this insider of a Top Bank in Canada reports what Bank DIRECTORS are saying, it sounds like he was sitting in on a top level meeting. Don't you? I mean even though his personal job is to manage Customer Portfolio Funds, he could be high enough in the bank to sit in on a meeting where Bank Directors were present, especially if it was an "emergency meeting".
Also recall that the top executives of SVB dumped a lot of their insider stock the first of this year, AND the day before the failure, they cut BONUSes for themselves!!!
So clearly they KNEW before anyone else that the shit was about to hit the fan, and THEY took steps to protect themselves....including without question, emptying their own bank accounts with SVB.
So why wouldn't the bank Directors in Canada have similar conversations, and take similar steps to protect themselves financially?
I think this tip might be legit.
.......especially in light of the other things (articles) I just sent out. Paul Craig Roberts is no idiot, "The official, who served in the US Treasury in the 1980s."
I think he is no doubt right about the Derivative exposure risk, especially now that it looks like Credit Suisse is about to go under. It will adversely impact other big banks.
The U.S. regulators are canvassing all the US Big Banks now, to see what would happen if Credit Suisse goes under and can't pay off their Derivative obligations. All the top Exec's are saying...."I'll get back to you on that."
Paul Craig Roberts says: To put it very [clearly], the five large US banks hold derivatives, the value of which is twice the size of the GDP of the entire world.
They hold $188 trillion in derivatives.
https://www.rt.com/business/572997-us-banking-crisis-global-threat/
Now that's a lot of money. Twice the size of the WORLD's GDP???
What national gov't could possibly cough up all that?
-0-
https://www.usdebtclock.org/
Bank lost $143 Billion in 2022. What are they going to back it with??
he shoots his mouth off about antartica all day and they eat it up .......they are amazed by him .
the guy still doesn't know the earth is stationary and not spinning ..........and not a sphere .....
but hey i'm glad you sheep like him so much
As you have repeatedly explained that you are ignorant,
indicating a lack of adequate mantel resources, the
question is "do you really have anything interesting to talk about?"
If you were a car, not only would all your tires be flat, they
would be missing altogether and you completely lack the ability
to move forward.
Basically your kind are a dime a dozen.
Try and eat some fruit as it may help. (At least you'll be with your
own kind) Although cannibalism is not a healthy life style.
What the rest of can do in the face of unwilling banks to allow us our cash is to make large purchases of what will be needed (food, etc) and other items that can be resold later or bartered if it all blows up and banking as we know it toast. Think non-perishables for long term crash.
I know of a guy who has been buying weapons and ammo to feed the arms. Those can be resold later but he will have no problem trading for food and farmed goods when those people realize their lives will be in danger during these times. What you need to purchase is your business but spend on goods you will need instead of getting robbed by the gov. You EARNED that money now keep it in one form or another.
Back when Steve Quayle was talking about "Force Majeure", he said that the globalists would for certain reasons do this on a Thursday and even mentioned a time.
I think he is right.
It is just which Thursday will it all collapse on?
Swift made an announcement, which I believe you Tweeted about, and that was very important. There is date, March 23, we need to be mindful of. The U.S. Government is also preparing to deploy a type of digital currency. How they do this, I do not know, but it is in preparation for CSRQ and USDR."
The whistle blowers have said Swift is being integrated with CSRQ & $USDR (private classified blockchain), putting the final touches on a one world digital currency system that will integrate with all existing banks.
Keep an eye the date. March 23, 2023. This is a Thursday. This is in the Swift announcement posted on the Twitter post.
https://twitter.com/swiftcommunity/status/1618339986042138625
What Is ISO 20022?
The ISO 20022 standard will set a new standard of communication for all financial institutions worldwide. The 20022 standard will completely change the financial landscape and improve international money transfers. Europe will transition to ISO 20022 towards the end of 2022, and the US will implement it in 2023.
What is the Role of ISO 20022 in Crypto?
A crypto that complies with the ISO 20022 standard could be approved by a centralized bank that enables crypto payments. ISO standardized crypto identifiers are going to change the way crypto is used. If ISO issues an official code for a crypto, such as Bitcoin or Ether (ETH), that crypto will enter the database tables of top financial services like Visa and MasterCard.
July 2023 launch of FedNow
Cover for CBDC
https://t.me/WallStreetSilver/3383
https://www.silencedogoodofficial.com/post/breaking-federal-reserve-officially-announces-july-2023-launch-of-fednow-cover-for-cbdc
https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm
I watched a video on how to move money without withdrawals which I found informative.
You could buy on credit and pay it off. You could prepay some utilities. For me, hard assets are a no brainer, so buy with credit and pay it immediately. Hopefully you're not a near senior like me and get your house looted when shtf.
Quote:
So the further we are from you the safer we are?
Quote:
So you are going Mad Max on your neighbors to loot, rape and pillage.?
Good Greif! (sarcasm)
All meant in good humor Uasns.
Wish you the best and be safe.
Things are not so black and white. There will be no credit institutions left after everything turns to dust.
Best to buy Silver first then Gold as a backup.
Why Silver because when the silver exchanges collapses and then reopens the Silver prices will be valued equal to Gold but will surpass Gold easily 300%. Meaning silver can go has high as $50,000 and more for 1 oz.
Why?
Because there isn't any Silver left in the world mines. Too many Tech innovations and Automobile Industries not to mention Elon Musk and his Aerospace Industry need tons of Silver every month.
Too much demand and very little Silver left in the mines.
So Buy Silver now before its too late:)
Go to www.GoldSilver.com buy only Silver American Eagle (Minted by US Gov) coin or the Canadian Version minted by Canada Government.
Morgan and Peace dollars are nice but have a certain amount of pseudo-nuismatic value to them, so I only buy them when a pawn shop or individual is willing to sell them for closer to their silver content value. Typical price on the web is $30 or so, and I just can't justify that, Stay away from expensive ones like Carson City mint. There have been counterfeits, and there value is nuismatic. Nothing wrong with that per se, but I am assuming the purpose here is to hedge and convert cash or credit into hard wealth. If you are looking at Carson City morgans, than you might as well expand to other things like Denari, or art for that matter. Just my opinion.
Go the 'coinflation' website to see what the actual metal value in anmy particular coin is. E.g., 'silver coin calculators.' Then go down to the EBay links to see what it actually costs to obtain silver. The difference in metal value from the seller offers is the premium. It's been over 25% for quite a while now. E.g.. $2 for a dime versus metal content value of $1.5 for a 33% premium over value. Note that there are commercial outlets on there like APMEX (not recommending them as they have lately been overpriced) as well as individuals and small outfits. Be prepared to look at LOTS of offers. Sometimes there are sellers who haven;t kept up with pricing, so you can find good deals there occasionally. Just concentrate on the "Buy it now' offers, preferably with free shipping.
What did I miss?
Perhaps autos will be made as they once were, without silver.
Perhaps Elon will have to pause his aerospace ventures.
Industry can only absorb a certain amount of increased cost and then they rapidly change plans, find alternatives, etc.
I think the prices you anticipate for silver are pie in the sky wishful thinking.
Don’t you think that most nations would have hoarded silver, along with purchasing gold, if
silver prices are to go parabolic? I think about China and Russia……buying many tons of gold in recent years. Certainly China is aware of the current and long term value of silver. I have never read or heard anything about China and silver.
We now have solid proof that the prices has been manipulated to remain low, by DB, JPM and others. JPM apparently has the largest private physical stockpile on the planet. Why are they buying it? Why are they suppressing the paper price? (So they can buy the physical cheaply.)
I recommend you look up the old silver bullet silver shield series by Chris Duane. He's become a bit eccentric lately, but deservers nothing but praise for his work on this - ten years ago and more, literally.The following link covers most of the series I believe.
https://www.youtube.com/watch?v=1YQ-BAOaL9c
Even so, I can not fathom that silver will increase to the level mentioned. That level of increase seems insane.
Why wouldn’t silver be disappearing into China and Russia already if it going to become so expensive?????
The reset has landed, unsure how any of us will pay our basic bills as they remove the digits in our accounts.
Remember obidone saying the economy is working as planned.
It is here.
This is just ONE source of inside information which may not reflect what other BANKERS/DEPOSITORS feel??. iF They get wind of it, INDIVIDUALS will likely ALL feel AND DO the same
Where ever you are in the world, where you have access to buy a commodity (cocoa for example) you could preserve some weath by buying it.
I'm not a financial adviser. (Are you?) These are just ideas that lighten my heart because there is alway opportunity in the face of adversity.
I stocked up on cans of dark roast beans, vacuum sealed and nitrogen flushed several years ago. I taste tested a can that was 5 years past best by date and it still tasted the same ….fabulous!
Simple barter items are things like cigarette lighters,
Bic razors, bar soap, toothbrush's and other common items will
be sought after by everyone once they become scarce.
Trade for food and many other things.
I’d prefer not to say my profession but I have been expecting this crash since 2019.
You are correct about commercial commodities as those items you mentioned will get you far when people are in a desperate situation.
Here in the US we have patriots in all fields of work.
I am hopeful that our ousted President Trump will return. When things turn very bad here in the US, there will be a major outcry against the corporate banking leaders as well as Politicians such as that fool Biden.
I know for certain that there will be a point that our military will get involved when things totally get out of control.
There will be conflict and confusion even within our own military. Whom ever wins the conflict that will occur in our military will determine if President Trump comes back to power.
If he does come back to power he will peg Gold and Silver back to our dollar to save the dollar.
That will be his first objective.
Here in America I believe we will witness the downfall of all these corruptible leaders at least most of them. Things economically will return to normal when people have a currency that has value. Businesses will come back and better banks will arise.
:)
Warning: Credit Suisse Bank run is expected on Thursday! Next phase in the global financial meltdown started.
Credit Suisse Group AG has asked the Swiss central bank for a public statement of support after its shares and bonds were pummeled on Wednesday, according to a person familiar with the matter. (Dr. Marco Metzler via LinkedIn)
The economist pointed out that the five large US banks ,the three giant New York banks &the two giant California banks, have trillions in Derivatives
https://www.rt.com/business/572997-us-banking-crisis-global-threat/
For many years, the Federal Reserve kept the rates very low, so the interest on the financial assets that the banks have on their balance sheet is low. When the rates start rising, the values of their portfolios fall, but their liabilities don’t,” Roberts explained.
“The Fed’s policy of high interest rates pushes the banks into insolvency. And this is the cause of the problem,” he said, warning that “if the Fed continues raising interest rates, there will be more failures.”
The economist pointed out that the five large US banks – the three giant New York banks and the two giant California banks – have trillions of dollars of derivatives that they are currently holding. Yet, their capital base is only in billions.
“So, they are exposed to risk in the trillions of dollars and they do not have the capital base to support that risk.
So, if something happens again in these derivatives as it did earlier this century (1929) when we had the big crisis, those banks will be in jeopardy.”
Roberts proceeded to warn that, if those banks get in trouble from their derivatives, it will spread into Europe. He noted that those banks were simply too large and there’s much interrelatedness.
“I doubt if Biden or anyone in his administration, or even the Federal Reserve, has any idea of the extent of risk. To put it very [clearly], the five large US banks hold derivatives, the value of which is twice the size of the GDP of the entire world. They hold $188 trillion in derivatives. So, what is the risk of this? No one knows.”
Much more at the link above!
Now add in the RISK of Credit Suisse, which looks like it is going under. US Regulators checking with Big US Banks to see what the Derivative Exposure Risk is if Credit Suisse falls. See article posted further below.
Why?
Because when things get very serious such as Credit Suisse Bank lost 25.52% of its Assets. When this bank Collapses then all hell will rain here in the US.
Many US Investors will start to pull out of their investments from other investments Banks. Then many more US citizens will start pulling funds out of their checking accounts as well.
This is beyond Serious. The reason things haven't been immediately destructive would be because the government Lies to people and they have been believing them.
So Far Biden has told every lie in the book about how the government has funds to pay off these investors.
They don't. The government is nationalizing the banks that have fallen and has wrote off these banks dept since its a government institution now.
Our government is putting on a show as they always do.
They are paying off only individual investors whom they have chosen and not the common investors, people who really need their moneys back.
Evidence of this is today when the markets started to fall dramatically.
The Government calls this strategy a BAIL IN.
Misinforming the Public so they don't pull their funds out. When things are too late the Government will hold the funds and investment equities funds to create such havoc on the people and businesses.
To even make it worse the government will not pay out the $250,000 insured investors because when the dollar starts to fall in value why should they.
So in all, things will get worse and worse each day. I believe by March 20 people will start to wise up.
Thank U! GOT SILVER, GOLD, JUST SNATCHED UPLATINUM & extra special; & vitamin L for problems that shall abound from folks that did not want to prep and want to take. They will get the dirtnapp treatment. So thank you, cause people are nuts and they have not figured out that the major exhanges of crypto have a send and receive feature for peer to peer transactions.
Shoot, many have the foggest idea that its gonna be painful
But my preferred method is to but junk silver (1964 and older dimes and quarters). See APMEX.com or your favorite precious metals dealer.....
15 minute podcast from Mike Adams as he brings
up some important points.
https://www.brighteon.com/ca2eabfe-e79d-4259-9086-d846de99f915
As it only takes a little water to get a damp cloth wet,
so also with your being nuts.
Life is hard, but it's harder if you're stupid.
We will all need to be ready to do our part to survive. Each kid in our organization needs a bottle of ketchup or red paint on hand to gather food and resources.
You sprinkle a bit on your arm or leg and sit looking miserable on the side of the road. When a dumb grinder stops their vehicle to see if you're alright we will open up on them from multiple directions.
Very easy method to acquire clothes, usable vehicles and grinder meat.
Tell you what……if ANYONE ever told me that they were actually doing this, I would put a bullet in their head…..no hesitation.
This is where's at... epic
https://twitter.com/i/status/1636007093906952192
No, the one you are looking for comes from your backside.
And as a kid I ate 6 oranges a day!
...citing ‘rapidly deteriorating operating environment’
https://www.cnbc.com/2023/03/14/moodys-cuts-outlook-on-us-banking-system-to-negative-citing-rapidly-deteriorating-operating-environment.html
Well I think this says it all. "Rapidly Deteriorating"....operations.
But there is more, today:
S&P (Standard & Poor) cuts First Republic to junk status....
... and sends NY Stock Exchange into a frenzy ....
...as America's Big Four banks take pounding ....
....and Credit Suisse tanks nearly 25% in wake of SVB collapse
https://www.dailymail.co.uk/news/article-11862725/Credit-Suisses-biggest-backer-says-cash-share-fifth.html
Turmoil at Credit Suisse crept across the pond
In Europe, shares of Credit Suisse plunged as much as 30 percent, hitting a new record low for the second consecutive day, after the Swiss banking giant's biggest investor -- Saudi National Bank -- refused to inject further cash assistance.
U.S. Treasury Department officials are actively reviewing the US financial sector's exposure to Credit Suisse, working closely with the Federal Reserve and European regulators,
~
Credit Suisse shares fall to all-time low as bank announces it has found 'material weakness' - just hours after Wall Street expert predicted that it would be the next to fall after SVB https://www.dailymail.co.uk/news/article-11857123/Wall-Street-expert-predicts-Credit-Suisse-bank-fold.html
The economist pointed out that the five large US banks ,the three giant New York banks &the two giant California banks, have trillions in Derivatives
https://www.rt.com/business/572997-us-banking-crisis-global-threat/
For many years, the Federal Reserve kept the rates very low, so the interest on the financial assets that the banks have on their balance sheet is low. When the rates start rising, the values of their portfolios fall, but their liabilities don’t,” Roberts explained.
“The Fed’s policy of high interest rates pushes the banks into insolvency. And this is the cause of the problem,” he said, warning that “if the Fed continues raising interest rates, there will be more failures.”
The economist pointed out that the five large US banks – the three giant New York banks and the two giant California banks – have trillions of dollars of derivatives that they are currently holding. Yet, their capital base is only in billions.
“So, they are exposed to risk in the trillions of dollars and they do not have the capital base to support that risk.
So, if something happens again in these derivatives as it did earlier this century (1929) when we had the big crisis, those banks will be in jeopardy.”
Roberts proceeded to warn that, if those banks get in trouble from their derivatives, it will spread into Europe. He noted that those banks were simply too large and there’s much interrelatedness.
“I doubt if Biden or anyone in his administration, or even the Federal Reserve, has any idea of the extent of risk. To put it very [clearly], the five large US banks hold derivatives, the value of which is twice the size of the GDP of the entire world. They hold $188 trillion in derivatives. So, what is the risk of this? No one knows.”
Much more at the link above!
I will be 67 tomorrow. The good lord helped me make it this far..
I'm 66, you could be my dad
Hahahaha
Duct tape & a roll of bailing twin, you can fix almost anything with those.
Old hand tools.
Wagon/wheelbarrow
Buckets & containers of all shapes and sizes
A washboard (bar soap works best)
Medical braces ie. Leg brace, arm, wrist etc
Extra socks, shoes, boots. They say in the old west you could pick out the new comers because they had good clothes. Needle & thread to patch and mend.
Couple of large pots, cooking, canning hot water ...
Kerosene lanterns good for lights & give off some heat.
Cast iron pans, dutch ovens, and griddle
A meat grinder, food grinder & grain grinder
Zip lock bags are good for a lot of things and they're washable.
Babies happen especially during hard times. Do you have cloth diapers? Or a way to make them?
Most stores sell cure for meat in the meat department. Ask the butcher. Otherwise salt! Lots and lots of salt!
Pepper also. Salt cures the meat. Pepper keeps the bugs off.
Sugar! It's another good preservative.
Get a book. Know the edible plants in your area.
Sharp knives and a way to keep them sharp.
Raw honey. Great topical for most wounds.
Hope this is somewhat helpful.
Guess he missed the dream from god about bank failures.
So-called Profits, notice the spelling.
You can find these false prophets all over the net and Tel-A-Vision.
They all say
Thus says the LORD
One says Doomsday is coming
Another says revival and the US is righteous
I believe nothing from them types
Top Two Banks have 106 trillion in Derivates.
Printing One Dollar per second it would take almost 12 days to print One Million Dollars, 31.7 years to print One Billion Dollars, and 31,709.8 years to print One Trillion Dollars.
31,709.8 years X 106 = 3,361,260 Years! Not Enough Resources on the planet to fulfill all of the Promises of these Trillions.
It’s been a crazy few days for the banking industry. Specifically, for Silicon Valley Bank and its shareholders, as it went from supposedly stable and solvent, to closed down by the regulators — in the space of just over 24 hours.
Anyone who thinks the SV Bank collapse was a coincidence has not been paying attention to the details. The hidden hands at work here have left their fingerprints all over this one. And when it comes to this amount of money, there are no coincidences.
https://www.brighteon.com/6bd565d3-1a8d-48ba-9049-77164258caf7
I know I have worked on many of my birthdays so for me I knew the world did not stop just because I had a birthday and I had to go to work to earn my living.
I wonder if there will be an actual show tonight of material or will there be over an hour of just dialogue to fill the time and then the taking of calls from people and we will get to hear people who just want to hear themselves speak who by and large know nothing but think they know something.
We used a similar tactic. But we were very careful, it was done in moderation so it didn't lead to such a wave of inflation. In short, the ECB and the USA printed trillion dollars they then raised the interest rates because of inflation which inflation rose because of the war and the sanctions they imposed on Russia to collapse its economy. At the same time, the Biden administration was already spending America's taxpayers money on Ukraine. Over $100 billion went to Kiev which made the situation worse.
The Chinese then started selling US bonds, preparing to invade Taiwan. Months before they had proceeded with a stress test on banks and the economy to see the vulnerable points in case of American and European sanctions.
In addition, the Russians threw the dollar out of their trades while Saudi Arabia was later added to the group. The US crisis is unprecedented and shows what is coming to the dollar. The east will continue to beat the US and European banks laying the groundwork for a new currency. A currency that will not be based on compressed air but on resources, energy, natural gas, etc.
I recycle the foil-lined wrapping from food products, pharmaceuticals, etc, and make envelopes to insert cash/checks/gift cards when I need to mail them. With the same idea as RFID wallets, I feel more secure about my items actually arriving at their destination. FWIW
Here's the Canadian Stock Market. Look at 10 year history, it is still looking "ok". I don't see any major losses yet....but who knows where they have been investing:
https://money.tmx.com/en/canadian-markets
However people in Canada are nervous about contagion and are asking the Canadian Gov't to raise deposit guarantees up to $250,000, instead of the current $100,000 gov't guarante, due to SVB.
Calls mount to raise deposit insurance limit in Canada in wake of SVB crisis
https://financialpost.com/fp-finance/banking/calls-to-hike-depositors-insurance-limits-canada
However, IF this Bank in Canada did the same thing that was done in the USA, they invested their depositors money in stable long term US Treasuries (Or Canadian Treasuries?), they could be experiencing similar losses in their BANKING Investments (investing in securities with Depositors money).
What happened with SVB was they got clobbered by the rapid rise in interest rates, that now made their stable usually safe long term investments in US Treasuries lose value. SVB was remiss in Hedging their investments for Interest rises. That is why suddenly this large portfolio of usually stably priced US Treasuries, were now lower in value and going lower every day, resulting in an unrecognized loss. They then attempted to dump (sell) their low interest US Treasuries, and took a sizable hit. Then this required them to try to raise capital. That's when the rumors started and panic set in. (SVB did some other things wrong, but this was the last straw as I understand it.)
So if this is what this bank in Canada is doing, then they too might suffer similar consequences as SVB and Signature Banks. So yes, if they did the same things as SVB, they have good reason to fear the next few weeks. They should be reaching out to their Federal Reserve equivalent (the Central Bank for Canada) for advice, to at least avoid the bank runs and bad publicity.
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The charter banks, like the
Royal Bank of Canada,
Canadian Imperial Bank of Commerce,
Bank of Nova Scotia,
Bank of Montreal etc.,
are owned by stock holders and provide services to the public.
There is a Bank of Canada which is NOT a commercial bank but is a ‘crown corporation’ offering services like monetary policy, bank notes, financial system, funds management. BofC has an arms length relationship with the government.
I hear ya! I think most of us are in the same boat!!
I hear ya! I think most of us are in the same boat!!
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