In 2008/09 all the FCID bank closures happened after the market closed on Fridays to limit the damage. Today we are treated to a vandalistic "Biden" regime making a big deal out of this DURING trading hours. /2
From a purely political and qualitative standpoint I'd say a number of things are at play here.
For a major SV bank to fail this spectacularly in 24 hours, 72 after the FOMC Chair went full "Resting Hawk Face" smells of a setup to force a "pivot" this weekend./3
But, it could also be revenge for the direct attacks on $JPM CEO Jamie Dimon by running a 'nuts and sluts' campaign on him through Epstein and an incomprehensible ruling against him earlier in the week. /4 zerohedge.com/political/jpmo…
We have continued attacks happening against Credit Suisse, who the Fed helped out last summer, and who the Saudis and UAE put large sums into their spun-off IB unit.
This is a clear Davos attack on their enemies.
/5
Peter Thiel comes out against $SIVB lends credence to me that this is a $JPM revenge play against SV for selling out the US to foreign, globalist powers.
Take away their money, you take away their power. More fallout from the Fed's war on egregious leverage 6/
This smells like another $FTX hit job by the Fed and Wall St. to roll over one of their clear enemies and this is why it's not happening over the weekend...
Systemic risk is likely negligible and (prediction time) if $JPM scoops up the remains of #SIVB's assets, then we know /7
But it could be a davos attack which was anticipated. I'm not here to give definitive answers but to present the possible scenarios at play. /8
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Building on things @biancoresearch has talked about.
Trump wants to be repaid for the post-WWII defense arrangements with the EU.
One of the possibilities is a cram down on the debt they have. Trump's opening off is to replace all the existing USTs owned by European banks (not clear if it's commercial + central or just central) with 0%, perpetual or 100-year bonds.
Now, I think this is a pretty hilarious offer especially in light of what I've been saying for 3 years about how the EU + UK complex has been gorging on USTs since Powell began raising rates.... to the tune of $1.1 trillion net/net since Sept 2021.
/1
They did this to manage credit spreads between US and UK/German bonds in order to keep their banks solvent.
Look up Lagarde's Transmission Protection Instrument (TPI), she instantiated in July 2021 in response to Powell's 75 bps raises back then.
The speculation then was to help the ECB manage the Italian/German spreads which were blowing out... @zerohedge covered it that way back then.
It wasn't.... the real control lever is US yields, against which all other debt is measured. Control the long-end of the US YC, you control global rates.
/2
Now, that the Euro-zone + UK and subsidiaries (Caymans, Canada, Bermuda, BVI, etc) are the largest holders of US debt, the bulk of which were bought at much lower prices, higher yields, Trump wants to cram them down to 0%
/3
Last year when the @PeterZeihan's of the world were calling for a 5 million bbl/day collapse of output I told you about the importance of the ESPO pipeline, which could double it's flows to 1 million bbls/day.
/1 archive.ph/nTTZk
Now look for Russia to double ESPO again after finishing the port upgrades at Kozmino
After this weekend's upside results for @AfD in Hesse and Bavaria I want to remind everyone that this time is different for them as compared to 2018.
They have transformed into the "solutions for Germany" Party, like I said they needed to become then. /1 tomluongo.me/2018/06/18/cro…
Because they didn't rebrand themselves in 2018-19 they were easy pickings during COVID which saw their support drop to a low of 10%. They failed to cross the 16% chasm and fell back.
But, they were on the right side of the issues, German voters needed to catch up to them. /2
They would do so because once Merkel was gone, the rebrand under Alice Weidel could finally take root. They went from the "Anti-Merkel" party on immigration to the "Pro-Germany" party on immigration, war, and the economy.
/3
As ICEs are being legislated out of the market, unsafe EVs will come with higher insurance costs all through their lifecycle.
Your True Cost of Ownership will rise as the depreciation curve steepens and initial cost rises thanks to complexity.
Simple, straightforward trucks are leaving the market.
RIP the Nissan Titan whose footprint is too small to stay in the market, like the Ram 1500 Classic. All full-sized trucks shorter than 146" wheelbase can't be sold at scale without huge CAFE fines. carscoops.com/2023/08/nissan…