Robert Kiyosaki and now Larry Fink on Credit Suisse's demise
This 2 charts reminds me of a James Bond movie, Skyfall.
There is a claim by many that, these companies are too big to fail. Oh yeah?
7th largest investment bank in the world is get steamrolled. Yesterday about 6pm Malaysia time, Credit Suisse (CSGN) got halted due to excessive selling.
Robert Kiyosaki predicts this bank will be next. Today, Larry Fink of Blackrock is echoing Rich Dad Poor Dad author.
2nd largest Swiss bank is going under real soon and this will rock Eurozone badly.
On to US banks, Moody's have place 5-6 banks under watch for downgrading due to contagion following SVB, Silvergate and Signature bank's catastrophe.
The pack leader is First Republic Bank (
FRC). Since last week Thurs, already down 80%. Holy moly!
Others will be Western Alliance Bancorp (
WAL), Intrust Financial Corp, UMB Financial Corp (
UMBF), Zion Bancorp (
ZION) and Comerica Inc (
CMA). This year will be crazy.
Will Jerome Powell finally pivot? He got 2 options, raise rates and crush the economy OR pivot and deal with rising inflation again.
What I think is, you will keep printing money. Like you always do and that's all you can do, dear central banks.
Stop covering up simple stuff with euphemism such as Bank Term Funding Program (BTFP) to cover up for money printing.
As if Quantitative Easing is not euphemistic enough.
By Sifu Steve @ XeroAcademy
There is a claim by many that, these companies are too big to fail. Oh yeah?
7th largest investment bank in the world is get steamrolled. Yesterday about 6pm Malaysia time, Credit Suisse (CSGN) got halted due to excessive selling.
Robert Kiyosaki predicts this bank will be next. Today, Larry Fink of Blackrock is echoing Rich Dad Poor Dad author.
2nd largest Swiss bank is going under real soon and this will rock Eurozone badly.
On to US banks, Moody's have place 5-6 banks under watch for downgrading due to contagion following SVB, Silvergate and Signature bank's catastrophe.
The pack leader is First Republic Bank (
FRC). Since last week Thurs, already down 80%. Holy moly! Others will be Western Alliance Bancorp (
WAL), Intrust Financial Corp, UMB Financial Corp (UMBF), Zion Bancorp (ZION) and Comerica Inc (CMA). This year will be crazy.Will Jerome Powell finally pivot? He got 2 options, raise rates and crush the economy OR pivot and deal with rising inflation again.
What I think is, you will keep printing money. Like you always do and that's all you can do, dear central banks.
Stop covering up simple stuff with euphemism such as Bank Term Funding Program (BTFP) to cover up for money printing.
As if Quantitative Easing is not euphemistic enough.
By Sifu Steve @ XeroAcademy
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