Guest Post by Brewer55
I took the following notes from today’s 2nd hour of the Glenn Beck radio program. Very disturbing news regarding our banking sector. Check this out…
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“There were zero buyers. No country, right now, is buying our 30-year Treasury Notes – only the Federal Reserve which they did to the tune of $1 Trillion!”
was this in the news?
Beck did not reveal his source. He said he got this news on Sunday evening and was supposedly confirmed on Monday morning. At the moment, this is as much as I’ve heard or know.
Here is the 20 minute segment where he talks about all this.
The repo markets are broken, no country is buying treasuries and China is selling off, Putin just put a major kabosh on the domestic oil industry, and trillions of dollars may come flying back to these shores meaning…..your dollar ain’t gonna be worth crap.
Methinks this virus is being used as a timely cover for the complete and utter financial collapse….
“While this deserves an extended discussion, we will merely point out that each day there a distinct part of the credit and/or funding market is breaking:
One day it is ETF NAV discounts blowing out;
The next day the treasury Treasury Cash/Swap basis surges and funds suffer a historic VaR crash amid forced liquidations;
Day three sees the FRA/OIS explode higher as a massive dollar funding margin call strikes;
Then, day four sees the same repo crisis that was supposed to be fixed back in September return with a vengeance, as banks freak out about counterparty risk.
At the risk of being flippant, we would say that what the Fed needs is the monetary equivalent of Dr. House: someone who can diagnose what is actually wrong with the monetary plumbing, instead of using the same old shotgun approach of shoveling trillions in blunt liquidity into the market, which clearly is not working anymore.”
“Unfortunately, a few hours later it has turned out that we spoke too soon, because this time the liquidity clog has shifted away from funding shortages (i.e., various OIS swaps) and right back to repo market access and availability, because a quick look at the overnight general collateral repo rate shows that despite the Fed’s multi-trillion liquidity bazooka-cum-ZIRP, its rate surged by more than 200 basis points in early Monday trading, with GC briefly exploding as high as 2.50%, more than 2% above the effective fed funds rate and proof that one again something is broken, before retreating modestly, and according to Bloomberg, just prior to noon ET, GC was bid at 1%”
https://www.zerohedge.com/markets/repo-market-breaks-again-forcing-fed-scramble-emergency-500bn-repo-operation
“Methinks this virus is being used as a timely cover for the complete and utter financial collapse….”
That’s what we’ve been saying. As I said previously, coincidences are strange things. Meaning, some aren’t. They’re manufactured to coincide.
Never let a crisis go to waste is what is happening here.
The virus is real, it kills, and is contagious. Will it destroy life as we know it? No.
If I know that shit is going to hit the financials, that cracks, really big cracks are happening in global markets, what better excuse to cover for the collapse than said virus? That doesn’t negate the virus’ effects, what it does is make the virus a scapegoat.
The financial crisis of 07′ and o8′ were only papered over, nothing meaningful was done to correct the bad actors or stop the bad practices, too big to fail, too big to jail. What we have now is Lehman’s times a thousand.
If only Liz had stayed in.
VV
Bingo! If I had any concern for what was going to put me in rough and troubled water, it would be the fact that banks are about to fail. This covid-19 scare is the perfect cover. You have hit the nail directly on the head VV.
Let us all fasten our seat belts it is going to get really rough out there.
It’s going to be hard ride, Oldtimer505. I pray for us all.
“Never a lender nor a borrower ever be”.
was this in the news?
yes, but few paid attention…too much virus happening…..
The Federal Reserve is accelerating its purchases of Treasury securities to address ongoing disruptions in the Treasury bond market, the largest and one of the most important financial markets in the world. The Fed said that it will purchase about $37 billion of Treasurys on Friday, out of the $80 billion it plans to buy over the next month. The Fed will purchase a range of maturities, from short-term bills to 7-year notes to 30-year bonds.
https://www.washingtontimes.com/news/2020/mar/13/the-latest-sweden-deploys-52-billion-to-help-compa/
You lost me at Glen Beck.
Posted by Not Sure
Things we know. The virus is engineered as a bio weapon; the only question is was it an accidental or planned release. The timing suggests planned, as it was dispersed just prior to the Chinese New Year for maximum global distribution.
On the surface, it looks far less harmful than the 12,000 plus deaths during the swine flu twenty or so years ago, which at the time did not come close to the hysteria/lock downs we see today. But if you couple the timing with the latest attempts to keep the market afloat, the flu is looking a lot like a cover for an economic meltdown down that is now taking place. If this is the case, we are in a free fall and things will not be returning to normalcy for years or decades; if ever.
So take a deep breath, expect a few more surprises along the way that will seal our fate and use your discernment to take your stand when the straw that breaks the camels back of your loss of freedoms crosses that line in the sand that only you will be able to define. Work out your options within your community, as comms will be one of the many dominoes to fall as we drift into whatever direction this train wreck is going to take.
Re Posted from an earlier article
I don’t think Trump would allow this if he wants another term
A bank holiday would kill his chances and his ego.
If he starts giving people tax cuts and monthly payments, along with the stoppage of interest on student loans – and that’s just the beginning – the people will love him and vote for him anyway. The virus itself is giving him cover. People are already saying it’s the virus causing all of this. Don’t underestimate the ability of the American people to be bushwhacked.
People are idiots.
I bought several jugs of cheap vodka today in case there’s a run on isopropyl alcohol when people realize they could make their own Purell.
I’m going to try to get some Everclear, too.
I have my priorities.
I’m ready to make a run for more Guinness and some liquor. I have some but figure it’s better to get more before they shut down the liquor stores.
So what do they expect alcoholics to do when bars, restaurants and liquor stores shut down and they can’t get a drink? They’ll end up at those “overwhelmed” hospitals when they go into D.T.s. Government people are so smart, aren’t they?
V V, That’s exactly what my daughter said. On a normal 3 day shift they see one alcoholic admitted that is going through withdrawals at her small hospital.
It’s so sad. But our overlords don’t take real people into account.
I agree it is sad but, sociopaths and or narcissists seldom if ever take others into account. It has been this way throughout history. I try to stay as far away from these individuals as I can. I would rather be alone than have to put up with self absorbed butt heads.
So-ooo I think I will have a bit of scotch and a little bite to eat and relax for the balance of the day. Take care VV
Good gravy…..the meltdown of the world reserve currency, the entire medical/pharma monster, and a summer of containment/quarantine zones and we’ll have ‘voting’ going on……gotta make the sheeple think they have control as they ask for permission to buy extra butt wipe.
annuit coeptis novus ordo seclorum <<—–== IT'S ALL BEEN PLANNED
Ordo.
Ssshhhsh, you’ll upset the free thinkers.
His chances are already gone.
I doubt it. Do expect conservatives to vote for Biden or Sanders?
Ah yes, it’s come down to the zionist con artist who betrayed his people, the zionist dementia patient or the bolshevik. What a choice! We’ll be writing in someone, just haven’t figured out who yet.
It basically comes down to who you’re offered on a platter to vote for, A, B or C. As stated before, I don’t vote. I watch from afar.
Something’s really strange going on at the Fed. I would be much relieved if it were only a case of too much vodka.
https://wallstreetonparade.com/
They are doing everything they can to take care of themselves, regardless of if it makes sense.
been watching local news the last few days to see what the latest “programming”is. they actually had a segment on how your money is safer in the bank than it is as cash, and that you shouldn’t take your money out of the bank. in other news we just had another baby goat.
Congrats on the baby goat. 🙂