Moody's Cuts U.S. Banking System To Negative

[Thunk]

What are people going to run to - Bitcoin? The RMB?

Gold.

Gold is up 80-90 dollars since friday morning. If any country announces a gold backed currency the US dollar is screwed!

 

[Death-Ninja]

Maybe we should go ahead and slice our gutz open and drop interest rates to zero again for the benefit of the wealthy bastards that rob the poor?

Who will be feeding you after collapse of banking system, and then the supply chain??? Most likely, you will be dead within two years or less, that ain't me saying that sport, that is Deagle, how are you gonna feed yourself, more importantly what are you gonna feed yourself???

Deagel.com predicts up to 80% of population culled by 2025 in countries where Europeans live

UK, US, and Germany look to be “epicenters of slaughter” (Updated 12/3/24)

hillmd.substack.com

 

[multivita-man]

Ya mean the billionaires that biden just bailed out

I know you're anti-Biden, but this is a decade in the making. If I'm being fair, yeah, Biden gets *some* of the blame, but the Fed gets more of it. Not just Jay Powell but going back to Bernanke. I think the Fed has lost sight of what its real job is; it's not full employment. It's to keep the economy stable. QE in 2009 made sense for sure, but not 2014 - 2022.

 

[multivita-man]

Gold.

Gold is up 80-90 dollars since friday morning. If any country announces a gold backed currency the US dollar is screwed!

Well, China is buying up a shit ton of gold at the moment.

 

[Thunk]

Ironically, bitcoin is up big today.

I saw that...it was up over 4 grand at one point. Yup...people are running to it...not sure how wise that is though.

 

[Moonglow]

Who will be feeding you after collapse of banking system, and then the supply chain??? Most likely, you will be dead within two years or less, that ain't me saying that sport, that is Deagle, how are you gonna feed yourself, more importantly what are you gonna feed yourself???

Deagel.com predicts up to 80% of population culled by 2025 in countries where Europeans live

UK, US, and Germany look to be “epicenters of slaughter” (Updated 12/3/24)

hillmd.substack.com

Food off my land...

 

[johngaltshrugged]

We could lose the global reserve currency status.

This is bad! Really REALLY bad!

Our global reserve status has been backed by petro dollars since we reneged on the gold standard.
Now Saudi Arabia is accepting other forms of payment & trying to repair relations with Iran.
Other OPEC countries will follow while we constrict oil production at home.

Yep, this is gonna get into some scary territory before Avg Joe has a clue

 

[multivita-man]

I am glad I do not have more than 250 grand in any one bank

Any individual with brains knows the rule - more than $250K and you open another account somewhere.

Just unforgivable mismanagement by these banking executives, and yes, the regulators got drunk on the job.

 

[Moonglow]

Gold.

Gold is up 80-90 dollars since friday morning. If any country announces a gold backed currency the US dollar is screwed!

They will be limited to the amount of gold they have on hand.

 

[Moonglow]

Our global reserve status has been backed by petro dollars since we reneged on the gold standard.
Now Saudi Arabia is accepting other forms of payment & trying to repair relations with Iran.
Other OPEC countries will follow while we constrict oil production at home.

Yep, this is gonna get into some scary territory before Avg Joe has a clue

EIA's latest forecast calls for crude oil production to rise by 590,000 barrels per day, to 12.49 million barrels per day (bpd) in 2023, and by another 160,000 barrels to 12.65 million bpd next year.Feb 7, 2023

U.S. crude output to rise in 2023, while demand to stay flat -EIA​

 

[Thunk]

I think the Fed has lost sight of what its real job is; it's not full employment. It's to keep the economy stable.

It's actually to keep the value of the US dollar stable...even at the expense of the economy.

But yes...they lost sight of that.

 

[multivita-man]

It's actually to keep the value of the US dollar stable...even at the expense of the economy.

But yes...they lost sight of that.

Well...the original idea behind the fed was to keep liquidity across the market. The idea for the Fed was inspired by the crash of 1907 and J.P. Morgan's intervention to give banks liquidity. Not wanting to rely on the kindness of strangers a second time, Congress created the Fed -- with that, and mainly that in mind.

The irony is that in 1928-29 once the cascade of bank collapses began, the Fed really didn't do what it was originally created to do. After that, the Fed was kind of reimagined to be more aggressive and assertive and it evolved into what modern central banking is today.

Keeping the dollar stable and taming inflation is absolutely a component of the Fed's work, but keeping liquidity is its bottom line. That does include some modest injection of cash during times of recession with the idea that if consumers aren't spending, money's not going through the economy and it needs a little juicing. Unfortunately, the last 20 years, owing to deregulation, democratization of credit, stagnant living wages, massive expansion of debt, and too big to fail, we're stuck in a permanent debt trap. Throw political polarization into the mix, and well, here we are.

 

[Thunk]

Now all we need is another bank failure this friday and the panic will REALLY set in.

Once that gets started...there is no stopping it.

 

[BackAgain]

Maybe we should go ahead and slice our gutz open and drop interest rates to zero again for the benefit of the wealthy bastards that rob the poor?

Your ignorance goes ever deeper into the morass of insanity.

 

[multivita-man]

Now all we need is another bank failure this friday and the panic will REALLY set in.

Once that gets started...there is no stopping it.

I don't normally cite Stansberry Research, but given the renown of the guest, I make an exception.



Roubini is the dude who predicted the 2008 crash when pretty much everyone told him to go jump in the ocean.

 

[Thunk]

Ummmmmmmmm...

Wells Fargo (NYSE:WFC) on Tuesday filed for a mixed shelf offering of up to $9.5B.

The offering may include debt securities, warrants, units and purchase contracts.

The filing does not necessarily indicate that a sale has begun or will occur in the future.

The company intends to use the net proceeds for general corporate purposes.

Wells Fargo files for $9.5B mixed shelf offering


I'm no expert but what I thunk this means is WF needs to raise 9.5 billion and they will be allowed to sell assets without filing a report on every little item.

 

[Thunk]

I don't normally cite Stansberry Research,

Porter is ok...Nouriel is the shit! I love him!

 

[EvilEyeFleegle]

Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

Moody's Investors Service cut its view on the entire banking system to negative from stable.

The big three rating firm cited a "'rapidly deteriorating operating environment" despite regulators' efforts to shore up the industry.


Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

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From the OP link:

Bank stocks rallied strongly despite the downgrade. The SPDR Bank exchange-traded fund rose nearly 6.5% in morning trade. Major indexes also were higher, with the Dow Jones Industrial Average up nearly 450 points, or 1.4%.

 

[multivita-man]

Porter is ok...Nouriel is the shit! I love him!

I like contrarians. Roubini, Burry, et al. I know they're not always right, but I like people who go against the noise. There's just so much bullshit reporting. These fucken people on CNBC, FOX, Bloomberg always give these friendly as fuck interviews and never ask hard questions, so the average Joe doesn't know when something's wrong with the economy.

 

[Esdraelon]

We could lose the global reserve currency status.

This is bad! Really REALLY bad!

That process was greatly accelerated when Biden decided to go after Bin Salman. When the Saudis began trading oil in Yuan, that's when we went over the cliff. Just waitin' on gravity to finish the job, now.