Banking failure

[TSIPP]

The Mexicans wouldn’t take Canadian money but the US was golden. Things will likely change.

[jazz]

But who will want to trade in Communist dollars? No one, US dollar is only safe trading currency.

Bingo, we wont be trading with that new eastern bloc.

China and US will be in a stalemate. We wont buy their stuff unless USD is used, and they wont sell their stuff unless yuan is used.

So globalization ends.

Hope we can find a new home for our exports. Probably US just takes it all. Fine with me.

[biglentil]

103 countries have applied to join the Brics, things are moving quickly. Usd is not required anymore in international trade, its the great unwind. The confidence in the purchasing power of the dollar is waning. The party is over the race to the exit has begun. A tsunami of USD will be hitting American shores. Price inflation is just getting started imo.

Is it any coincidence its woke western banks failing? Now its Deutsche Bank suffering massive deposit withdrawals. This is a TBTF bank. Counter party risk is rising among banks worldwide.

Can't make this up Fed blamed SVG's failure on too much exposure to US Treasuries.

[newguy]

Mexicans laugh at the Canadian dollar !

USA dollars only for tips !

I never take USA dollars.I take cnd and go and find best exchange from cnd to pesos.Resorts do not give good exchange but many street places offer good rates.Many people you tip live in smaller towns and do not have the same access to exchange cnd.Mexicans love Canadians they just hate our weather.

[shtferbrains]

Some outfitters accumulate significant amounts of USD that they don't mind trading at fair rates.

[TOM4CWB]

The US Fed was highly involved… carefully overseeing SVB Before the collapse and run on SVB deposits…. Now to be taken over by First Citizens… the US Fed retaining control of some $90 Billion in SVB “assets”….



30% more liquidity has been inserted into the US banking system… than in 2008….



The Saudi minister that said they would not put any more money in Credit Suisse a couple of weeks ago… has resigned… supposedly for personal reasons….

[TOM4CWB]

Details on the First Citizens Deal:

[TOM4CWB]

More details:




Since the Fed closely monitored the contagion that occurred… clearly the US Fed is required to backstop all bank assets… because $Billions move in minutes now…. With phone transfers instantly stressing any banking system… Fed monitoring of small banks under $250B…. Is virtually impossible… without backstops for instant liquidity…. Of $Billions of currency.

My observation:

Adding $Trillions in currency to the monetary system… instant banking streamlined by the pandemic… all have created massive structural challenges to our monetary system….

A Brave new world!

Cheers

[TOM4CWB]

The OTC derivative market is over $600 Trillion….

This monetary system … is broken….the Biden administration has Not got the practical experience…. Saying that problems are “transitory “… is refusing to admit failure… which doubles down the problems….

Insanity is doing the same thing over and over and over again… expecting a different result….









The monetary system is Broken!!!!

[biglentil]