A hub for independent voices and hard truths
via Douglas French The wordsmiths at the Federal Reserve wisely omitted the line about a “sound and resilient” banking system in its statement on January 31. That same day shares of New York Community Bank plunged when the bank announced …
Banking rollercoaster: From denial to acknowledgment, uncertainty surrounds likelihood of commercial bank failures. Real estate magnate Barry Sternlicht has sounded the alarm on the challenges facing the commercial real estate (CRE) sector, particularly the office market, labeling it an “existential …
As inflation and steep interest rates persist, Americans are accumulating more credit card debt, with the New York Federal Reserve Bank’s Quarterly Report on Household Debt and Credit expected to reveal a new record exceeding $1.08 trillion. Despite Fed Chair …
Remember the Banking Crisis of 2023? Back in March/April of last year, when 4 banks failed all within a few weeks of each other? Well, it turns out what helped stop that contagion from spreading was something known as the …
Mr. Casey serves as a trusted advisor to a diverse range of business owners and professionals, advising them on financial issues impacting their companies and their personal wealth. He has served as a trusted advisor to a diverse range of …
Optimism in the US banking industry is being threatened by a growing pile of bad loans, putting pressure on the sector’s biggest players. Bloomberg analysts say non-performing loans, or loans to debtors that haven’t made a payment in over 90 …
As we enter 2024, once thriving US high streets are starting to resemble desolate ghost towns as America is taunted by the ever-looming threat of yet another financial crash. If the economy is thriving then why are we seeing more …
pic.twitter.com/QkzeOvXoer — redpillbot (@redpillb0t) January 13, 2024
via naturalnews: Ongoing efforts by the powers that be to stop the current financial Titanic from sinking are failing as banks in the totality of 2023 cut more than 60,000 jobs. The collapse earlier this year of First Republic Bank, Silicon Valley Bank and Signature Bank …
Written by Walter Block on his substack blog: How does one describe our present banking system? It is like an upside-down pyramid, with the tippy top of it located at the bottom and the widespread base of it placed at …
by Chris Black Last summer, I wrote a brief article about how China’s property sector is, structurally, a bubble. And as with all bubbles, policymakers are equipped with a toolkit limited to delaying,… Continue reading by subscribing. Username Password Remember …
Jim Willie is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics, and his career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of …
🇺🇸 Small banks cash assets to total assets shrinks. The Fed’s BTFP comes due in March. It’ll be extended. The Fed postpones at the expense of making worse, the consequences of liquidating underwater securities to meet depositor’s demand for their …
They keep kicking the can in that lawsuit – and they have been for 2 years. Each time that they kick the can, the costs goes up. Just like the US…banks are stuffed with these loans. The crap has hit …
by mark000 Start of June 1929 DJIA was 300. Start of September 380. That’s a 25% gain in 3 months. A full blown delusional manic meltup. Then the worst crash ever in October and by mid November the DJIA was …
Kyle Bass, Hayman Capital Management founder and CIO, joins ‘Squawk Box’ to discuss China’s real estate crisis, why he believes China is currently experiencing a banking system collapse, what it means politically for Chinese President Xi, potential impact on U.S. …
via bettermarkets: Dennis M. Kelleher, Co-founder, President, and CEO of Better Markets issued the following statement in response to the testimony of Wall Street’s CEOs today before the Senate Banking Committee. “Wall Street’s CEOs testified before the Senate Banking Committee today …
Mutual transactions in national currencies have quadrupled in 2023, VTB bank executive says Trade settlements in national currencies between Russia and Vietnam have skyrocketed this year, Olga Basha, VTB’s head of international settlements, told RIA Novosti ahead of the investment …
China’s Colossal Hidden-Debt Problem Is Coming to a Head [WSJ] China is trying to defuse a financial time bomb that could severely damage its banking system. Cities and provinces across the country have accumulated a massive amount of hidden debt …
by HighYieldLarry In America, the crisis is never over because it’s never solved. It is just patched and kicked down the road.
https://twitter.com/HSBC_UK/status/1727971038628020557 Thousands of HSBC customers in the UK have reported that they are unable to access mobile banking. Downdetector, which tracks websites, showed more than 3,900 people had reported the banking app on their device was not functioning. https://www.msn.com/en-xl/news/other/hsbc-mobile-banking-down-for-thousands-across-uk/ar-AA1ksiM7
In 2023, major financial institutions such as Citigroup, Goldman Sachs, Farmers Insurance, Robinhood, Charles Schwab, Wells Fargo, Ally Financial, Morgan Stanley, Bank of Nova Scotia, and RBC have collectively announced layoffs, totaling more than 20,000 employees according to Forbes. These …
SENATE BANKING DEMOCRATS CALL FOR INDEPENDENT PROBE OF FDIC — Win Smart, CFA (@WinfieldSmart) November 17, 2023 Brown Leads Committee Democrats in Calling for An Independent Investigation of FDIC Culture WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chairman …
@KeithMcCullough warns that the recent surge in Regional Banking ($KRE) and Real Estate ($XLRE), often seen as positive, could be a bear market bounce, potentially misleading investors before a recession. Drawing parallels to the Great Financial Crisis, McCullough highlights this …
by demonbeanie The banking system is facilitated by uncollateralized debt; fractional reserve banking, which had seen the reduction of the reserve requirements to 0% in 2020. https://www.federalreserve.gov/monetarypolicy/reservereq.htm On your bank’s balance sheet, there are assets labeled “cash on hand,” which includes …
Warning signs of the instability of the global financial system abounded in the months leading up to the 2008 Lehman Brothers crash. Among these early signs were the astounding revelations about UBS, the world’s largest private bank, by Stephanie Gibaud, …
China is trying to keep kicking the can down the road, but their collapsing property market, and their dropping exports due to recession, is going to put their economy in a pullback that will take years to recover from. Corporations …
Fun fact: bank credit is now contracting! Since dollar standard (‘71), that’s only happened once before: 2008. Losses in T bonds will far worse than mortgage losses. Stocks are on the verge of a massive collapse. Fractional banking does’t work …
