There are some serious rumours doing the rounds about a major bank failure

Discussion in 'Wall St. News' started by TrAndy2022, Oct 2, 2022.

  1. TrAndy2022


    There are some serious rumours doing the rounds about a major bank failure
    October about to start with a disaster?
    Adam Button, Sunday, 02/10/2022 | 02:12 GMT+2

    ABC Australia is reporting that a major investment bank is on the brink, citing 'a credible source'.
    Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90.

    Moreover, the credit default swaps are at distressed levels.

    A memo from the CEO to staff circulated late on Friday:
    "I know it's not easy to remain focused amid the many stories you read in the media – in particular, given the many factually inaccurate statements being made. That said, I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank," he wrote.

    Today, Fox Business' Charlie Gasparino reported that:
    "CEO Ulrich Koerner has been meeting w major institutional investors worried the firm is on shaky financial footing and assuring them the bank has strong capital, liquidity etc. One large investor tells me "the bank and wealth management platform are very valuable, but the investment bank is a disaster." The CDS's of the bank have been trading as if a Lehman Moment was about to hit."

    This could lead to an ugly open tomorrow and something far worse if it proves to be true.
    The bank will have to effective refute this in the strongest possible fashion, otherwise they'll have clients pulling money and couter-parties cutting credit lines.

    Rumours like these can be self-fulfilling.
    We've already got an inflation crisis and an energy crisis. How about a banking crisis too?
  2. TrAndy2022



  3. Wouldn't surprise me the slightest..., with such high inflation...
    European economy, banks & markets will crash first.

    Today read somewhere: Germany spends about $200 billion for energy "security" (ie. buying gas etc. now from somewhere else than Russia, and "rescuing" all the domestic energy companies, ie. those companies who just distribute the gas and electricity to the households, b/c they are factually bankrupt as they can't pay the current market prices...).

    Then there was the additional $100 billion for the military.

    I guess this crisis costs Germany more than $500 billions!

    What an idiot govt this Germany has! It could have saved all that money by not following Washington... But such idiots deserve it! :D
    Last edited: Oct 2, 2022
    traderlux and KCalhoun like this.
  4. ET180


    Part of Washington tried to warn Germany 4 years ago:

    traderlux, jys78, BKR88 and 2 others like this.
  5. Someone will be allowed to fail as justification for taking strong policy and monetary action. That's been the playbook for a long time. The challenge for Powell is that this playbook is an open secret but before it was just speculation. Today everyone has their finger on the trigger to go long in a big way.
  6. dekiles


    Do you think that this can really affect this system so critically?
  7. It's up to the "globalists" :) If they see an opportunity to profit from such a crisis, then they surely will... :)
    Soros, Gates and their ilk... :)
    Money Trust likes this.
  8. It sure can but you don't know. Depends entirely on what positions they are holding, their leverage, who will rapidly unwind if they fail to make payments to a counterparty in a trade, etc.
  9. Concinnity


    Just seems like the natural flow of things, time for another crash / reset. Probably many more of these rumors and actualities to come in the future.

    I know I beat a dead horse on every thread, but it's been almost 9 months now of consistent and constant selling, enough to make the Weekly chart resemble 2000 and 2008, starting months ago.

    It's not even really a TA debate, just common sense. Obviously it takes large players selling to make the Weekly chart look this bad, so they clearly think something is coming.
  10. LOL @ all the libertards all smirking and laughing at the 'bad man' who's name can not be named anymore.

    Ohhh, sweet justice! Hows THAT, social justice warriors?! Can you taste it!

    How now, brown cow?
    #10     Oct 2, 2022