Guest Post by Thaisleeze
…mainstream media outlet to recognize that the world is in the middle of a major banking crisis? A crisis that began in September 2019 when the inter-bank lending market in the USA sent the first distress signals, and continued to send in ever increasing amplitude.
Since global stock market peaks in February, pumped higher for months by the very money meant to alleviate the repo/liquidity problems, bank shares have been telling the story that the world’s media continue to attribute to the incredibly convenient coronavirus outbreak.
Citigroup shares are down 48% from their February peak and similar levels of equity destruction can be found in other American, German, French, Australian, British, Spanish, Italian and some Asian and South American banks. Deutsche Bank, worth more than 20 times what it is today just 13 years ago, looms like the grim reaper over the financial world with its title of the most important systemic bank globally. Large banks across Europe are dangerously close to penny share territory.
Even the average layman such as myself can see the the Federal Reserve is in a state of abject panic. They must be grateful to have the ability to create digital money as there is not a printing press invented yet that could keep up with the volume of Benjamins they are throwing at Wall Street, literally $trillions. From wallstreetonparade.com;
And yet no matter what pundit you see on TV, all that one hears is that Wall Street banks have plenty of capital. These two things cannot be simultaneously true: the Fed cannot have had to be pumping hundreds of billions of dollars each week into Wall Street banks and their trading arms for the past six months (long before there was any coronavirus outbreak anywhere in the world) if these banks actually did have adequate capital.
It is probable that we will have to wait for the first bank bailout before the media robber barons finally acknowledge what is clear for all to see today. There was never a better time to ensure your household has plenty of cash on hand. Many pundits have long said that the next crisis will make 2008 look like a cake walk. The next crisis is already playing out.
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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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Financial Horse:
I’m of the opinion that the banks do actually have plenty of capital on hand FOR THEMSELVES and the Fed’s actions are topping off the tank before a long journey.
The banks are sequestering money to use when the time is right and not before. Hence the REPO squeeze. They have the means to simply steal all the money in all their accounts and then hose up the computers which is what happened on 911. There’s no way to trace it all after the records are destroyed – think the missile into the Pentagon.
There are numerous actors in this connived drama, all with their own aims. I suspect the US military/intelligence establishment started this for their reasons and others are just independent actors piggy backing on the unfolding crisis. Everyone was waiting for some trigger to unleash their plans and the virus provide the impetus to get all the balls rolling.
There’s no one bad guy, just numerous scumbags all in it for themselves acting during the same time period.
Are you saying G.R.E.E.D has something to do with it?
The banks are in it for the money and the money provides them with power. After the dust settles, ownership of huge portions of the country will have been transferred to a cabal and because they control the media and the actors in the gov’t soap opera, no one will know who owns what.
The end result will be the reintroduction of feudalism on a grand scale. The rich will have gotten immensely richer and the rest will be fighting over scraps.
It may be time to eat the rich.
that doesn’t sound tasty at all… how about just composting them?
SOA
Right.
While everybody is looking for Communism and Fascism by November we will have gone from Oligarchy to Feudalism.
Flea, I know you said Feudalism was where we were headed before. SAO concurs. I throw in a little monarchy for good measure.
See Bee.
Feudalism includes Monarchy. It’s a chain of commands or authority that is hereditary. The blue blood can be seen worldwide. Ever notice the Kings of Malaysia and Thailand don’t look too much like the people. Blood has a life of it’s own here and in the spiritual realm.
P.S. Don’t get BL started on Bloodlines.
I have said it from the start.This virus is cover for what is really the problem.The climax of the economic collapse. SAO you made a great point of when the dust settles….. The cabal will own most of the country.There is no such thing as a free lunch.
Sure they can. The banks:
1. Don’t have any real capital at all
and
2. Have the illusion of capital facilitated by our fractional reserve “banking system”, i.e. fraud. We aren’t supposed to talk about number 1 at all. Just ignore the man behind the curtain.
Until now, there has been a thin thread tying illusory capital to reality. For each $100 in fake capital the banks create out of thin air, banks have been required to hold $10 in fake capital as reserves. Now even that has gone bye-bye and the banks’ reserve requirements are now ZERO. That means each bank can create $∞ of fake wealth any time they need it. So, problem solved. That was so easy, I wonder why we haven’t tried that before.
from wallstreet on parade….
[ The Federal Reserve Board of Governors announced at 6 P.M. last evening that it is following the direction of Steve Mnuchin, the former foreclosure king who now serves as U.S. Treasury Secretary, and authorizing the reinstatement of a hideously operated, multi-trillion dollar bailout program for Wall Street’s trading houses known as the Primary Dealer Credit Facility (PDCF). ….
Yesterday, CNBC spun the news about the program this way: “The Federal Reserve is adding another weapon in its effort to make sure households and businesses get the funding they need as the economy deals with the coronavirus crisis.” CNBC added that Treasury Secretary Mnuchin said the program would “help facilitate the availability of credit to American workers and businesses.”
…. Only in some alternative universe from hell that exists in the likes of the brains of Lloyd Blankfein (the former CEO of Goldman Sachs who famously said he thought he was doing “God’s work”) could funneling $5.7 trillion to Citigroup, Morgan Stanley and Merrill Lynch be construed as helping American workers and businesses. During the financial crisis Citigroup was foreclosing on families using an alias and illegally holding homes off the market; ]
yep, having some fun now!
“help facilitate the availability of credit to American workers and businesses.”
The quote says they are helping to make money more easily available in the form of credit for workers and businesses. More free taxpayer money for banks to lend to taxpayers at steep interest rates. Nice work if you can get it.
Yup. Because the problem is that Americans aren’t levered up enough, apparently. These are the same assholes doing the same thing they always do: make sure nobody saves by keeping real interest rates less than zero, then make sure they’re up to their eyeballs in debt.
Whatever the crisis, their solution is “Eat more dick.”
They hand the banks $trillions of free money to save their bacon and then spout the old trickle down theory re-titled: making credit available to morons.
Imagine if we asked our god for help and he offered us a loan at 21% interest? Stucky might suggest we get another god.
Yet we keep voting in this god’s (mammon) representatives every four years. They didn’t even try to hide it when they billed Obama as the bank’s savior who would forestall the tiki torch and pitchfork crowd.
To keep talking as if we only suspect the truth is to encourage the farce. It’s the moment of truth in the story when the cheating wife is caught in bed with the milkman (not riNsE) and she can’t think of a reason she is mad at the hubby. But I digress.
In this case, we find the POTUS, any POTUS, in bed with the bankers, doing an around the world (that’s no holds barred, end of the world sex, Donkey) and we buy the old, ‘it’s your fault, you didn’t pay enough attention to me!” line.
So then we resolve to vote for the banker’s candidate next election time to make up for our neglect. Surely they will share the free money with us.
Reminds me of the old story about the dude who married a hooker. She got home from work and he thought he’d collect on some free booty. “Fifty bucks, buster, no freebies!”
PS. Be sure to upvote my comments in the Stalin article and the Fear article.
Let it all crash. People can’t live as the banks do. The banks didn’t change their ways after 08.
Shit ya sure ,
This country will burn to ground if it all crashes.I used to have that mind set : let it all crash and burn but now I’m 58 with a mom that’s 79….and a cat.
79? Around here, she’s what is known as a hottie.
geez you are a wit, (or is that a shit ; )
i’m trying to drink my coffee here…. not sanitize my keyboard with it.
Banking is theft. Always has been, always will be.
This mess will be sanitized and the next round will begin.
And when the peasants start buying solver etf’s hopefully it will crush the great pm market manipulator jp morgan as those bastards have crushed silver with their short selling and coverings.