Mnuchin later stopped by several survivalist stores to stock up on freeze-dried food, gas, and ammunition before heading off to his office in Cheyenne Mountain. https://t.co/qSLEOeigQv
— Rudy Havenstein, Russian-Israeli diamond oligarch. (@RudyHavenstein) December 23, 2018
Secretary Mnuchin convened individual calls with the CEOs of the nation’s six largest banks
The banks all confirmed ample liquidity is available for lending to consumer and business markets.
Washington — Secretary Mnuchin conducted a series of calls today with the CEOs of the nations six largest banks: Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase, James Gorman, Morgan Stanley; Tim Sloan, Wells Fargo. The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations. He also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly.
Tomorrow, the Secretary will convene a call with the President’s Working Group on financial markets, which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations.
“We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business,” stated Secretary Mnuchin and added “With the govemment shutdown, Treasury will have critical employees to maintain its core operations at Fiscal Services, IRS, and other critical functions within the department.”
Yeah, but markets aren't falling because they think banks are illiquid. They're falling because 8 years of yield-seeking speculation encouraged by the Fed's zero-interest rate policies created a bubble bigger than 1929 and 2000. Yet 45 blames Powell instead of Bernanke & Yellen. pic.twitter.com/rTZMxkqAq9
— John P. Hussman (@hussmanjp) December 23, 2018
Just in case any major bank CEOs were not worried about the prospects of another financial crisis, Mnuchin's Sunday afternoon calls to assure everyone there is nothing to worry about may have the opposite effect. Instead of putting out a fire he may have just lit one!
— Peter Schiff (@PeterSchiff) December 23, 2018
I see things when I believe them. 🙂
God knows what these lunatic criminals will discuss to subvert the corrective mechanisms of the market this time. To prevent a total meltdown last time, the Fed sons of bitches secretly gave $16 trillion in almost zero-interest loans to bail out the too-big-to-fail banks, including foreign banks. The $700 billion TARP loans were big news and extremely controversial, so the audacious bastards proceeded to print up and bestow sixteen thousand billion on the sly. Imagine what they’ll do next time the world economy is teetering on the abyss with debt levels far worse now. Whatever they decide–maybe another huge giveaway to the banks–they won’t tell us the truth about it. If things magically turn around we’ll know the Fed just gave away trillions more, which will eventually fall on our heads.
Steve Mnuchin calming the markets from Cabo.
All IS well when:
One has several billion dollars spread out among a few very quiet, private banking institutions from the Cayman Islands and Singapore to Lichtenstein.
One has at the ready a private jet registered in the Bahamas and flight plan with an original destination of Aspen but with a special predetermined air-file alteration to sunnier climes.
One is going to a nicely provisioned 50-meter yacht, registered in Bermuda or Malta, with a home port of maybe Corfu, or Pago Pago, sitting just offshore from a tidy private Polynesian island with a sweet hacienda and “full service” service staff.
What could be so bad?
If there’s one thing we have learned in situations such as the one that now exists, is that when TPTB are fixing to pull the plug they send out their hired guns to lead the sheep to one last fleecing. They have nothing to lose. Their loses are underwritten from the public till . Ours are not.
You folks can of course do what you wish. I’m going to be piling into Berkshire Hathaway B shares which are an outstanding hedge. It is trading with a PE in the 7’s! My 12-18 month price target is $300. That would be PE 12. PE 15-16 which I consider pretty fairly priced historically would be $400.
They go up, they go down, but long term is up and away. All the rest is just static you put up with on the way.
Great idea to take risk capital and try and hope to only 25% return. Will rogers said he preferred the return Of his money than on his money. This is a keen time to reflect on that…..
prof,
you must be from the southwest if you’re quoting will in this day & age–
he was quite the sage–
WHo, with this power works on a sunday on Christmas eve eve? Asking such questions? Unless they know something we dont? Normaly things dont happen on their timeline ans surely we will all look back as that call was our last warning!? The deep state is holding our nukes hostage. Thats why they are in charge of foreign policy. Trump having dinner when huwaii ceo arrested and didnt even know about it. Enemies all around trump. He called the military vets back from syria for a reason. They will be needed here? Maybe there are 45,000 indictments about to be served justice? China rules 5g tech.China helping iran. Hillary selling russia our uranium and russia selling to iran. When iran pops the nuke on us it will have markers of our own plutonium and cause people to think its a coup tearing us apart just like the nwo wants. Is china about to crash our economy by with all our bonds debt to them?
ALso, people are traveling, shopping and entertaining with many smaller banks closed monday and bigger ones closing early. Christmas they are closed. Why so urgent to call ceos on a sunday. Interrupting their off dayduring a Holiday. Something smells……
Futures Suddenly Plunge Ahead Of Mnuchin’s “Plunge Protection Team” Meeting
https://www.zerohedge.com/news/2018-12-24/futures-suddenly-plunge-ahead-plunge-protection-meeting
If Mnuchin want’s to take our minds off the market, how about publishing some spread beaver photos of his wife. YOWZA
How’s a weasel Jew banker get fuckin” like that?!
Life’s not fair!