BillHolter.com

Bill’s commentary:

“Are they actually saying this publicly? That the failure of just one bank would have taken the entire financial system down? If this is true, one must ask themself, how sound is the ‘system’ in reality?”

The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG UBS -3.09%decrease; red down pointing triangle needed to rescue its failing rival, Credit Suisse CS -5.48%decrease; red down pointing triangle Group AG.

For any country, it would be a financial emergency. For Switzerland, the stakes verged on existential. Its economic model and national identity, cultivated over centuries, were built on safeguarding the world’s wealth. It wasn’t just about a bank. Switzerland itself needed rescuing.

Bill’s commentary:

“The BRICS will set the price of gold not the west.”

Egypt has officially become a new member of the New Development Bank (NDB) created by BRICS member states (Brazil, Russia, India, China and South Africa) after completing the necessary procedures, according to an update on the composition of the bank posted on the website of the financial institution on Wednesday.

“Medical, Financial, Political & War Disasters Getting Worse” – Dr. Chris Martenson.

Dr. Chris Martenson holds a PhD in toxicology from Duke University, is a futurist and economic researcher. He is also a Wall Street Journal best-selling author with his new revised book called “Crash Course.” Martenson said in August 2021 on USAWatchdog that the FDA approval of Pfizer’s CV19 vaccine named Comirnaty was “actually a fraud.” He was right. Now, Martenson is warning that medical, financial and war troubles abound and people need to get ready to deal with a reality that no human has ever seen before. Martenson starts with the medical disaster called the CV19 vax and explains, “As you give these (CV19 injections) to people,, their immune system gets worse and worse and worse. That’s what is about to come through with common knowledge. You can see them fighting it, but people are starting to notice, hey, my friend who is quadruple jabbed is getting sick all the time now with colds, Covid, whatever. It is very clear this is the single most disastrous medical intervention in all of human history.”

Bill’s commentary:

“Richard Russell described this situation as ‘Inflate or die’!”

At the beginning of last week, everyone expected central banks to “tighten until something breaks”. By the end of the week it was clear that they’d already broken everything.

Two middling US banks imploded, European mega-bank Credit Suisse finally died a well-justified death, and “who’s next?” speculation ran wild. And just like that, the era of tight money ended.

Now the world’s monetary authorities have broadened the definition of “systemic risk” to cover pretty much anything. FDIC insurance has been extended to every bank account of any size. Credit Suisse is being bought for pennies on the dollar by rival Swiss giant UBS.

Bill’s commentary:

“If you have not seen this, it is nuts!” – Dave

“Yes it is Dave. This will all end up in the lap of the Treasury …and they do not exactly have a solid balance sheet do they?” – Bill

Jamie Dimon is the Chairman and CEO of JPMorgan Chase, the largest bank in the U.S., which is also ranked the riskiest global bank by its regulators. But instead of getting his own house in order in the midst of a banking crisis, Dimon has been peculiarly focused elsewhere.