The Duran
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Forcing UBS to swallow Credit Suisse
The Duran: Episode 1544
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Right on all counts, guys. My calculus/estimation is that the amount of US deposit insurance including the paltry US$1B+fractional funds of the FDIC, would have to increase by around 15,000X, or around 15M% to cover all deposits in US banks. That’s just not realistic, so, I predict what they’ll (The Fed & Treasury other regulatory agencies) do is shore up the TBTF banks & let all the other smaller regional banks fail, & their depositors get back only pennies on the dollar in insurance, plus maybe worthless bank shares. Then they’ll push their CBDCs on everyone they can get to… Read more »
Actually, 15,000X increase is 1.5M%, not 15M%. Misplaced decimals often occur. One time recently, I opened up a CD for US $10,000 and the clerk at the credit union input US $1,000,000, a mistake which was quickly recognized & corrected.
Alex and Alexander, thank you for providing an oasis of sanity in a world gone mad. I am so grateful to be able to snatch a refreshing draught of your good sense each day, before plunging back into the chaotic fight for survival. Today on reading about the proposal for Putin’s nuclear weapons to be stored in a facility in Belarus, I was struck anew by the resemblance of “all this” to a great game of Chess, played on a massive board. Pawns being deployed in Syria. (Message to Israel – watch your step.) A castle glides into Belarus. (Message… Read more »