Imran Kahn has been released due to Turbulent Conditions.
https://www.dawn.com/news/1742856/toshakhana-hearing-judge-permits-imran-to-go-back-after-marking-attendance-outside-judicial-complex

Posted by: too scents | Mar 18 2023 12:35 utc | 204

@sally | Mar 18 2023 13:01 utc | 204
https://en.wikipedia.org/wiki/File:Map_of_the_Legal_systems_of_the_world_(en).png

Posted by: too scents | Mar 18 2023 13:14 utc | 206

In Other news from New York City USSA. The home of the new rapid highly infectious SARS COVID-19 2032 sub variant. Now following the same route around the worlds as the 1917 H1N1 USSSA flu pandemic! Has moved to the southern hemisphere autumn/winter. season. This displaces the usual r southern winter USSA sourced flu pandemic. Please thank NYC, for their generous donation of the new very contagious sub variant to the rest of the world. .
It is said the city authorities are drafting in additional State and federal police including the entire contingent of the Cities riot police! This also includes in all probability. The NY state National Guard units and every Swat team in the state. Just to protect one Manhattan Federal Court house. To insure the safety of both the federal judicial officials. Plus one convicted company tax fraud person. From a probable remake of the January 6th,2021 riot rampaging furniture destroying flash mob. Consisting of the same yet to be convicted and or are out on bail pending DC Swamp court cases for bad anti-social behavior that day.
Flash news report. From the Crimea Peninsula. The three point three million natives of the peninsula are celebrating “Reunification Day” with an honored guest. Who traveled from Moscow. The three million plus natives of the peninsula are going wild. In celebrating their good fortune. They chose the right side! For freedom from corruption and paying double taxes plus additional payola on a daily basis to Kyiv’s Diktator Little “z”‘s poll tax. From 1991 to 2014.

Posted by: Bad Deal Motors On | Mar 18 2023 13:39 utc | 208

Mark2 | Mar 18 2023 12:18 utc | 202
Good Day
Xi Jinpung and George Bush are mirror images. Both reach out with their right hand but to each the other appears to be reaching out with their left.
Rest assured there is no difference. It’s just what side of the mirror you are on that makes you think the other is different. Xi Jinping wants his Vassal State and Putin is the first vassal.
All who preach globalism be, they capitalist or communist, seek to create their vassal states. If you accept globalism be prepared to accept your vassalage.

Posted by: Jerr | Mar 18 2023 15:07 utc | 210

Not to go all psychological, this outlandish Trump fixation must be the most revealing instance of projection ever in the history of “it wasn’t me.” A spirit rotten to the core externalizes a revealing self-image it draws as a Trump.
Posted by: Elmagnostic | Mar 18 2023 13:27 utc | 206

Trump, or whatever the local variant in every country is called, is just someone who’s needed for the 2 minutes of hate. Trump had his chance to clean house but he did nothing.

Posted by: Vikichka | Mar 18 2023 15:35 utc | 212

SwissArmyMan @ 212

if they arrest Trump next week

Imran Trump

Posted by: LightYearsFromHome | Mar 18 2023 17:00 utc | 214

Below is a current posting title at Reuters
Trump says he expects to be arrested on Tuesday, calls for protests
The Hollywood show continues.
The bone spur grifter of American trust fund children has been caught with his pants down by the puppets and zombies of The God Of Mammon cult.
So, between now and Tuesday it will be like watching the OJ car chase on the freeway but longer….what a hoot.
The dog barked and barked and barked but the RoW caravan rolled on…..

Posted by: psychohistorian | Mar 18 2023 21:47 utc | 216

jinn | Mar 18 2023 13:48 utc | 209
To me, it seems the substantive issue about the Fed’s bonds that banks are holding, is that the interest rates on older bonds are so much lower than the current rate they have to be sold at a steep discount, below par value.
The banks have not sold these bonds because they want to keep them at par value on their books. If they sold them below par most would not be able to maintain liquidity. If banks could hold onto these bonds until they reached maturity there probably would be no major issue. However, this does not seem to be the case for many banks.
This is not just a SVB issue but one with all banks especially where government bonds are a major part of their liquidity.
The Federal Reserve appears to be basing all their decisions on raising rates based on inflation considerations; and seem to ignore bank liquidity issues. The Fed’s recent action in raising rates again may well precipitate a major new banking crisis.

Posted by: Jerr | Mar 18 2023 23:51 utc | 218

Posted by: Jerr | Mar 18 2023 23:51 utc | 218
If banks could hold onto these bonds until they reached maturity there probably would be no major issue.
_______________________________________________________________________
That is exactly the best thing for the people who rely on banks to make payments and deposit their pay checks. And the whole notion that banks should be behaving like wall street hedge funds is exactly the worst thing for the same people.
Here is what the federal statutes say:

(a) The Congress finds that—
(1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
(2) the convenience and needs of communities include the need for credit services as well as deposit services; and
(3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered. USC chap 12 sec 2901

This is not just a SVB issue but one with all banks especially where government bonds are a major part of their liquidity.

Posted by: jinn | Mar 19 2023 0:27 utc | 220

Posted by: Grieved | Mar 18 2023 23:04 utc | 217
Thanks very much for that notice. Have a virtual tipple on me, but if we ever meet in a real bar I’ll buy you a real drink!
Your link is to just a 1 minute 35 trailer. I found the full length 3 hours 34 here:
https://archive.org/details/dangerous.days.making.blade.runner.2007.480p.dvdrip.aac.h.265sermov

Posted by: Walt | Mar 19 2023 0:34 utc | 222

Posted by: jinn | Mar 19 2023 0:27 utc | 220
I hit the post button accidentally before I finished.
We have seen this before. In the 1980’s under Reagan many small savings and loan were wiped out with the same maneuver. Banks are supposed to be a service to the communities they operate in. If people just roll over and except what the narrative tells you banks are it will be just one more opportunity for the 1% to screw the 99%.
This is just a prelude to wiping out all the small banks because they are all now loaded up with assets that have long maturities and low interest rates. The govt is supposed to be protecting these banks in exchange for the services they provide. But oh no that would be socialism so we can’t have that anymore.

Posted by: jinn | Mar 19 2023 0:45 utc | 224

@Tom_Q_Collins,
You may recall our conversation re Texas Senate bill 147 which would bar citizens of China, Iran, North Korea, and Russia From Land ownership in Texas.
Well, here is a sister bill to bar those — from the same countries — studying at state universities. H.B. 4736

Legislation designed to exclude certain foreign nationals from American universities is often predicated on security concerns. But those concerns are largely overblown. What’s more, bills like H.B. 4736 would punish foreigners who are, in many cases, deliberately building lives far away from their repressive countries. Ultimately, their civil liberties shouldn’t have to suffer as American politicians take aim at foreign powers.

https://reason.com/2023/03/18/texas-bill-would-bar-citizens-of-china-iran-north-korea-and-russia-from-studying-at-state-universities/
Yo, what’s up Texas?

Posted by: Sakineh Bagoom | Mar 19 2023 2:10 utc | 226

nn | Mar 19 2023 0:45 utc | 224
Very well stated. Good insight on the US banking situation created by the Fed.
However, their is an unspoken cyber war going on in the banking sector; the effects of which can only be surmised at this point. Some hints I’ve heard center on insufficient fund calls on customers savings, atm/checking and credit card charges. It’s related to the bank’s liquidity but something else is also going on.

Posted by: Jerr | Mar 19 2023 2:38 utc | 228

@Zorc | Mar 16 2023 21:52 utc | 21
Russia’s budget is mostly funded by oil industry tax revenues. Its budget is based around oil at $70 per barrel. The oil cap set by Europe for oil is $60 per barrel. Meanwhile, India and China are buying Russian oil at $35 or less per barrel.
Yes, Russia is so suffering from Western sanctions, blah blah. But according to Bloomberg

Russia’s oil-export revenues surged to around $20 billion in May despite shipping lower volumes, as a rally in global energy prices buoyed its coffers, according to the International Energy Agency.
That’s a 11% increase from a month earlier, taking Russia’s total revenue for shipping crude and oil products roughly back to levels before the invasion of Ukraine, even as exports fell by about 3%, the IEA estimates in its monthly report published Wednesday.

(Emphasis added.)
In other words, Russia is surviving just fine despite the Western sanctions. This is obvious, so obvious that even Bloomberg — a propagandist organization as pro-Western as they come — is grudgingly saying it. If even frequent liar Bloomberg is admitting that Russia isn’t hurting much, the reality is probably that Putin’s country must be doing well.
And Russia is poised to do even better in the rest of 2023. As the International Energy Authority says,

world oil demand growth is set to accelerate sharply over the course of 2023, from 710 kb/d in 1Q23 to 2.6 mb/d in 4Q23

In other words, oil demand will more than triple this year. Russia will be getting an oil bonanza — almost exactly the reverse of Zorc’s propaganda.

Posted by: Cyril | Mar 19 2023 4:11 utc | 230

@ jinn | Mar 17 2023 17:15 utc | 139
Official FDIC graph of unrealized gains (losses) on investment securities… Total losses during 2022 amounts to 2T USD plus… Disregard the article, simply note the FDIC graph as it correlates with rise of interest rate.
https://ibankcoin.com/flyblog/2023/03/10/fdic-closes-svb-sunday-night-bailout-looms/#sthash.fhBpeKTa.dpbs

Posted by: Alex Vadim | Mar 19 2023 5:13 utc | 232

ARTE News did a story on Friday night about Roger Waters, the kernel of truth being the threatened cancellation of Waters’s scheduled concert in Frankfurt. But the purpose of the piece is clearly not to inform viewers, but to format them. They story begins by saying that “[Waters] no longer hides his anti-Semitic positions.” A German rabbi is the key interviewee, and he repeats the accusations of anti-Semitism, condemning Waters’s famous pig prop emblazoned with a Star of David, not mentioning the fact that it also features a Crucifix, Crescent and Star, Hammer and Sickle, Shell Oil Logo, McDonald’s Sign, Dollar Sign and Mercedes sign and not addressing Waters’s clearly formulated defense (https://www.rollingstone.com/music/music-news/roger-waters-addresses-star-of-david-controversy-61250/) in which he directly addresses the issue of accusations of anti-Semitism being used to silence critics of the State of Israel and its policies and states that the Star of David represents the State of Israel. ARTE’s French translation has the rabbi accuse Waters of “Inciting racial hatred” – a crime in France, though the rabbi seems only to use the term “anti-Semitism.”
Having established Waters as an anti-Semite, the story goes on to mention Waters’s video appearance before the UN was “at Putin’s request” and treats his charges that the Ukraine war was provoked, as if the mere idea was proof of his mental incompetence. The only commentary is a derisive comment from the rabbi, maintaining the illusion that the story is about Waters’s views on Israel. There again, nothing is done to present Waters’s point of view, again despite the fact that his intelligently articulated stand on Ukraine can be easily found by any first-year high school student who takes the trouble to look.
The fact that Roger Waters is an intelligent and visible critic of US/NATO policy is the real motivation of a “news” story like this one, and the point of it is not to inform us of the controversy surrounding attempts to cancel Waters’s concerts, but to discredit him and silence his criticism of that policy. The ARTE “news” story is here: https://www.arte.tv/fr/videos/114038-000-A/roger-waters-pas-tres-bienvenu-en-allemagne/
A story in The Guardian about Waters’s challenging the legality of the attempts to cancel his concerts: https://www.theguardian.com/music/2023/mar/16/roger-waters-threatens-legal-action-over-german-concert-cancellations

Posted by: Gene Poole | Mar 19 2023 5:49 utc | 234

From Xinhuanet about coming Xi trip to Russia…..last section of long posting

FOR EQUITY AND JUSTICE
Back in 2013, Xi chose Russia as the destination of his first overseas trip after becoming president. In his speech at the Moscow State Institute of International Relations during that visit, Xi called for building a new type of international relations with win-win cooperation at the core, stressing the mankind “has increasingly emerged as a community of shared future in which everyone has in himself a little bit of others.”
The vision of building a community with a shared future for mankind not only reflects the common voice of all peoples and gathers the broad consensus of the international community, but also leads the trend of the times and the way forward for mankind. Since it was proposed, the notion has been enshrined repeatedly in important documents of the United Nations, the Shanghai Cooperation Organization (SCO) and other multilateral mechanisms.
“Ten years have passed, and we understand that the notion’s relevance has not decreased but is becoming more and more important,” said Anatoly Torkunov, president of the Moscow State Institute of International Relations, who applauded Xi’s speech at the scene in 2013.
The world has now come to another historical crossroads.
To revert to a Cold War mentality, provoke division and antagonism, and stoke confrontation between blocs, or to act out of the common good of humanity to promote equality, mutual respect and win-win cooperation — the tug of war between these two trends is testing the wisdom of statesmen in major countries as well as the reason of the entire humanity. Facts have repeatedly proven that containment and suppression is unpopular, and sanction and interference is doomed to fail.
At the critical moment in human history, Xi has made the important judgment that “the world today is undergoing profound changes unseen in a century,” while Putin has also made similar assessment at the Valdai Discussion Club.
The more turbulent the world is, the more steadily China-Russia relations should forge ahead.
As the founding countries of the SCO, both sides have pushed forward multilateral cooperation, and extended the organization’s focus from security to politics, economy as well as people-to-people and cultural exchanges. They have made joint contributions to a better world order, global and regional development, as well as the security of the SCO members.
Under the BRICS mechanism, Beijing and Moscow, together with other members, have played an active role in advancing the reforms of the global economic governance, and jointly created a stronger voice on major international and regional issues. Those efforts have enabled the emerging economies and developing nations to have more of a say on the world stage. And the developing economies, represented by the BRICS countries, have become the new engine of economic globalization in today’s world afflicted by rising populism and protectionism.
China and Russia, as permanent members of the UN Security Council as well as important parties of the Group of 20, APEC and other key global and regional groups, have also worked closely on issues related to the situation in the Korean Peninsula, Afghanistan, as well as the Iran nuclear issue. They have played a leading role in promoting multipolarity and greater democracy in international relations and safeguarding global strategic balance and stability.
Ten years on, China will continue to work together with Russia to follow the trend of the times, drive global unity and cooperation and contain division and confrontation so as to make new and greater contribution to peace and development of humanity.

Posted by: psychohistorian | Mar 19 2023 6:59 utc | 236

@ jinn | Mar 17 2023 17:45 utc | 143
What happened on March 06 2022.
…”Today’s $48 billion auction stood out in yet another way: the stop-out yield of 4.97% was the highest for a six-month offering since January 2007.
“Generally, intermediate bills have struggled to generate investor demand due to risks associated with the prospects of a more hawkish Fed, and uncertainty about the debt ceiling,” Jefferies economists Thomas Simons and Aneta Markowska say in a note. “However, with the small cut in supply for 3s, and the high outright yield levels offered, the auctions did a bit better today”
As a reminder, the yield on six-month bills initially rose above 5% on Feb. 14, making it the first US government obligation to reach that threshold in 16 years. That yield is slightly higher than those on 4-month and one-year bills, which according to BBG reflect reflecting concerns over the trajectory of Fed rate hikes and the risk that Congress will fail to raise the debt ceiling before Treasury exhausts its cash reserves.”
Quote from an article

Posted by: Alex Vadim | Mar 19 2023 7:07 utc | 238

@ jinn | Mar 18 2023 0:22 utc | 179
Note the date of this article Jinn
https://mises.org/wire/odds-are-rising-fed-will-trigger-next-bust

Posted by: Alex Vadim | Mar 19 2023 8:19 utc | 240

@ jinn | Mar 17 2023 17:15 utc | 139
What happened on March 10 2023.
Way before, 42B USD were withdrawn from SVB in 24 hours by deposit holders…
https://www.bloomberg.com/news/articles/2023-03-09/svb-plunges-most-since-1998-on-stock-offering-securities-sales

Posted by: Alex Vadim | Mar 19 2023 9:36 utc | 242

James Smith | Mar 19 2023 5:13 utc | 233
You disingenuously cite these territories as if China is the only claimant. This plays into the narrative of China as the aggressive bully hellbent on land grabbing. The border conflict with India is ongoing and Taiwan has similar claims. The islands in the South China Sea are also claimed by Taiwan, in addition Vietnam, Japan and Philippines are active participants in the dispute.

Posted by: Jun | Mar 19 2023 11:32 utc | 244

UBS shareholders are setup to hold CS’s bags.

The government is preparing emergency measures to allow the takeover to proceed at pace and plans to introduce legislation that will bypass the normal six-week consultation period required for UBS shareholders, the newspaper reported.

https://www.bloomberg.com/news/articles/2023-03-19/ubs-offers-to-buy-credit-suisse-at-chf0-25-shr-in-ubs-stock-ft

Posted by: too scents | Mar 19 2023 12:36 utc | 246

I don’t have numbers at hand – maybe someone else does?
Posted by: oldhippie | Mar 19 2023 12:58 utc | 247
—
My feeling is that we are well past the point that financial numbers have any meaning.
Everything now leans on the Social Contract.

Posted by: too scents | Mar 19 2023 13:23 utc | 248

Being Sunday and in light of numerous comments on the subject , I am going to make a short sermon. Be seated barflies. There is much some smoke without fire being generated about the Old Bankers intentions.
It is simple – they are doing what they have ALWAYS done.
A scalping .
A rinse and repeat every generation or two.
Because we are doomed like the proverbial goldfish to forget and repeat the same actions and reactions over and over.
A piracy of REAL wealth from the actual creators of such real things – the poorest. The many. Who are thereby kept poor forever and indenture their children to the Slave Owners again and again and again.
Traditionally interest rates for centuries have averaged 7% over the long term.
Funny that isn’t it? As if there is some Great Attractor!
It’s Man Made.
It is an old old pantomime – a Punch and Judy Act.
They don’t do ‘new’ they stick to their routines.
How?
Inflation was artificially induced through cartel price rises.
So they could bring out the stick of interest rate rise to ‘beat down’ the bad ‘inflation’.
This is aligned with creating industrial ‘actions’ that demand ‘pay rises’ to mitigate the rise in cost of living. Which gets parlayed into ‘public finances’ not being able to afford it without ‘borrowing’ , which is undertaken to appease the poorer public servants , with the fakery of having to increase their taxes to be able to afford that extra spending.
The reality has always been that Taxes never Paid for Public Spending.
It has always been the actual opposite.
It’s another Big Lie to cover the True Crime.
A ‘borrowing’ from the ‘bankers’ with higher interest rates that will payout to these bankers for decades to come.
A ‘borrowing’ of magic money that the bankers have the ‘right to create’ from the government they will lend it to!
Whilst these bankers watch mortgagees and variable rate loan owners fail to make their payments – having had their disposable income reduced through the machinations of inflation/interest rates – hence banking the real wealth, through bankruptcies, negative equity etc. The magick money created by bankers to ‘lend’ to the borrowers – gets cancelled as ‘bad debt’ the interest earned and any surplus from the disposal of real assets gets banker as ‘real wealth by the Bankers.
See … Rinse and repeat every 20- 25 years and stay at the top of the pyramid of the wealth ownership. Simples as they say unless … until … some national governments and their Peoples refuse to play the game. At which point the Bankers hire mercenaries and unleash death and destruction upon these ‘Spartacus’s’ to destroy them and their ideas of freedom from the Bankers. And do it horribly so that it is an example to everyone else, other nations and their elites to never ever ever think of revolution.
They will carry on doing that and shape shifting from one invented nation to another, from one Reserve Currency to the next one – until they are EXTERMINATED – it finally looks like enough Leaders are able to stand together and not watch each other get annihilated as previous rebels have been through history.
That is why it is all over. That is why there is retreat to walled world behind which they hope to keep many of us wedded to the idea of a Garden and a savage jungle on the other side. Whereas the real heaven on earth will be outside of that wall and as the children there are shown it – when they ask ‘what is that Wall encircling that small patch there?’ The answer will be – oh that’s the foolish old Bankers and Slave Owners and some of their deluded Slaves – they believe they are the only ones in this heavenly Earth!! We let them think that and make sure they don’t starve to death in their deluzion.
Amen, go forth and imbibe merrily and burn the Old Banks.

Posted by: DunGroanin | Mar 19 2023 13:33 utc | 250

@ DunGroanin | Mar 19 2023 13:33 utc | 250
Some confirmation to your post…
https://www.dlacalle.com/en/silicon-valley-bank-followed-exactly-what-regulation-recommended/

Posted by: Alex Vadim | Mar 19 2023 14:26 utc | 252

Alex wrote: “…When somebody wants to gain on derivatives – suddenly most unexpected and unimaginable things happen…”
What pray tell does that have to do with SVB bank?
Are you claiming that if SVB had participated in derivative contracts that protected against interest rate risk, they would not have failed?

Posted by: jinn | Mar 19 2023 15:35 utc | 254

@ Posted by: jinn | Mar 19 2023 15:35 utc | 254
…no I am talking about sorting Silvergate

Posted by: Alex Vadim | Mar 19 2023 15:54 utc | 256

Alex wrote:
Jinn, you are one hell of an angry fellow… Did you loose some money through SVB ?
Not yet and and maybe never. I was expecting this dog and pony show was concocted to relieve me others like me of some of our hard-earned funds. But now its beginning to look like it backfired. We’ll soon see.
_____________
Alex wrote: “you are rejecting that shadow banking practices are part of reality”
Shadow banks are definitely part of reality. Depository institutions, where us common folk have a little money stashed, are not shadow banks.
In the US the Federal statutes make that distinction between depository institutions and shadow banks very clear . You won’t change that by waving your arms around.
______________________
Alex wrote: “…no I am talking about sorting Silvergate”
So your comment had nothing at all to with SVB or anything else previously discussed. You were just bullshitting when you injected that comment in support of your claim that ” Derivatives are the reasons behind recent collapse of SVB.”
The statutes that allows the regulators to rescue SVB and prevent a run have been in place for years. The regulators decided not to use them. Now they have decided to implement them for other banks. That looks like regulator error to me, but we don’t yet have all the facts.

Posted by: jinn | Mar 19 2023 17:18 utc | 258

Alex wrote: ” Why would I BS ? Give me reason/ purpose, please”
How the heck would I know why you BS
You made the claim that “Derivatives are the reasons behind recent collapse of SVB. Derivatives is a legalised financial betting/scheming on much broader field of economic values. ”
Then in what looked like a long paragraph intended to support those statement you rambled on about stuff that had nothing to do with either how derivatives affect SVB or anything at all about SVB. It annoys me when I waste my time trying to understand what your claims mean and find nothing but irrelevant BS.

Posted by: jinn | Mar 19 2023 17:49 utc | 260

@ jinn | Mar 17 2023 17:15 utc | 139
I’m well aware of the bull that the financial pundits are telling everyone.
By this definition of “insolvent” all banks are insolvent. The depositors in any bank can figure out that if they all moved their deposits elsewhere the bank would be insolvent. But why would they do that?
This is your statement to I realized losses/gains ? This what I call BS

Posted by: Alex Vadim | Mar 19 2023 19:06 utc | 262

Give me some hard evidence of your claim : “…90 years ago the entire US banking system was forced to liquidate much of its long term assets to pay off the demand from depositors to convert their deposits to currency. ”
Seriously? You never heard of the Depression
According to this source: https://www.fdic.gov/about/history/timeline/1930s.html

” On March 6, 1933, President Franklin D. Roosevelt declares a banking holiday and temporarily closes all U.S. banks.
Money supply is 40 percent lower than 1929.”

The 40% drop in money supply was almost entirely due to the massive destruction of bank deposits in 1931 and 1932.
The drop in bank deposits was the result of either people converting there deposits to currency when the banks could manage to fund that demand or just being wiped out when the banks failed because they could not meet the demand for deposits. Considerably more deposit institutions were wiped out in these few years than even exist today.
In order to satisfy customer demands for withdrawals banks were forced to call in loans and liquidate assets, but borrowers without income and deflated assets couldn’t cover the demand for withdrawals. Foreclosures were rampant and banks could only raise some of the money that depositors demanded. Foreclosures were already high starting in 1926 due to housing bubble in the early 1920’s
https://www.researchgate.net/figure/Foreclosures-during-the-Great-Depression-in-the-US_fig2_287997112
So first enormous amounts of cash was withdrawn destroying billions in deposits and then the banks failed in the thousands wiping out the rest of their deposits. The exact level of the national carnage can’t be calculated exactly since there wasn’t any good national accounting and public reporting in banking back then.
Anyway, the laws that we are now focused on in the current banking frufaw all originated from the banking legislation that was passed just about exactly 90 years ago in the aftermath of that bank fiasco.

Posted by: jinn | Mar 19 2023 20:40 utc | 264

@ jinn | Mar 19 2023 21:04 utc | 265
Jinn, you are living in unicorn bullshit land of government banking rules and regulations, where banks a transparent community serving businesses, with devoted deposit holders and shareholders that eager for dividends and not takeovers. No wonder you an angry fellow… You are dreamer, Jinn

Posted by: Alex Vadim | Mar 19 2023 21:38 utc | 266

Alex wrote: ” where bank is a transparent community serving businesses, with devoted deposit holders and shareholders that eager for dividends and not takeovers”
Well, considering the community being served in this case is one of the wealthiest and most privileged in the nation its easy to say fuck ’em let the banks screw over that community. Why should we care?
But that’s not the way it works. The law as it stands applies to everyone and once it becomes generally accepted that there is a different set of laws for the wealthy and privileged I guarantee you that is not going to work to the advantage of anyone besides the wealthy and privileged.
That is the way it works in my country which is the USA. Your mileage may vary.
The law in the US does say that deposit institutions are supposed to be ” transparent community serving businesses” (12 U.S. Code § 2901) and yes I expect the law to be followed. If some of my fellow Americans don’t expect the law to be followed its probably because they are idiots. But I’m not angry about this state of affairs. My life is pretty good. I can only imagine how horrible it would be to be Ukrainian or Syrian and count my blessings.

Posted by: jinn | Mar 19 2023 22:49 utc | 268

Sometimes it seems there should be a limit on the number of posts any one person can post to any one thread, doesn’t it?

Posted by: SwissArmyMan | Mar 19 2023 23:30 utc | 270

@ jinn | Mar 19 2023 22:49 utc | 268
Sure. I see. You have got morals and principals… Then my question to you is… Are morals and principals affordable when there is generous counter offer or say, on empty stomach, let’s say in case of two extremes ? My next question to you, Jinn is… If Great Depression represents bare essential surviving conditions – how come people were agree to afford and were paying “fee” (negative rate on T-bonds) for money keeping facilities, when today crumbs are bigger and living conditions are way luxurious and yet people can not afford to pay for banking services, according to your multiple statements ?

Posted by: Alex Vadim | Mar 19 2023 23:42 utc | 272

@ jinn | Mar 20 2023 0:12 utc | 273
Yeah, I have watched it several times approx 20 years ago, when cable TV was in trend and packages of channels were on offer. I had two black and white channels with all the classics running in repeats once a month every six hours.
I can understand better where you are coming from. All the best, mate. I am at work. You can check the world clock for Melbourne – it id midday here. Thanx for G.D. links, Jinn. The bar is closing. Visitors are sick of two mad guys, keep on talking.

Posted by: Alex Vadim | Mar 20 2023 1:23 utc | 274

Interesting video, talking about US trying to force LGBTQ legislation and propaganda in Uganda. Uganda president and citizens pushing back hard and telling US go scr#w themselves. US is also after the gold deposits in Uganda.
https://www.youtube.com/watch?v=mPeLaMMDz5g

Posted by: unimperator | Mar 20 2023 8:26 utc | 276

Alex wrote:
When FED’s offer is 10% annual return on 6 months treasuries and transparent community serving banks quietly moving entire deposits portfolio into those those short term bonds, without sharing any of the profits with deposit holders
_____________________________________________________________
Feel free to provide evidence for any of your claims.
You won’t because you never do support your assertions. You just lie and when called on a lie you move to another lie.
Yesterday 6-month Treasury yields in percent per annum was 4.51 %
https://www.federalreserve.gov/releases/h15/
And it is true that there are some fly-by-night internet banks that are advertising deposit interest rates of 4.4% in order to attract new depositors and they may well be dumping those new deposits into 6-month Treasuries and getting a tiny profit. But the laws of supply and demand dictate that if a huge amount of money tries to buy 6-month Treasuries the yields will drop to zero.
The average community bank has only a small amount of liquid assets that are intended to be used to cover the ebb and flow of deposits in and out of the bank. The majority of their assets are tied up in long term assets (mostly long-term loans). If 25 million US workers suddenly become unemployed those long term assets become unrealized losses. That is what happened in 2020.
Fortunately, the US Treasury sent 1000’s of dollars to US households and increased unemployment benefits and gave businesses a ton of free loans which gave banks a ton of free deposits. All of that saved the banking system from their “unrealized losses”. It also saved the economy from another Great Depression because Great Depression is what happens when you tell the entire banking system to eat their unrealized losses.
The current problem is that the US banks have $9.3 trillion in uninsured deposits out of a total of $23 trillion in deposits. This total includes MMMF which are not strictly defined as deposits by law but whenever they fail and cause instability they get bailed out just as if they were defined as deposits. What this means is that whenever the big banks that hold most of these uninsured deposits get into trouble (they always do) then the small insured depositors have to cough up the money to bail out the big uninsured deposits. The large uninsured depositors continue to get paid higher interest rates because they have no insurance fees attached to their deposits and after the bailout the small depositors get even lower rates because the insurance fees charged to their deposits go up. This is nothing but a systemic transfer of wealth from the small depositors to the big depositors. There is no other way to describe it.

Posted by: jinn | Mar 21 2023 17:02 utc | 278