Bill Holter’s Commentary
Lost decade? How about end of empire?
‘In a world of thieves, the only final sin is stupidity.’ Hunter S. Thompson. (1937-2005).
Bill Holter’s Commentary
Can you say wealth destruction?
“The share prices of foreign megabanks are doing even worse than those of U.S. megabanks. Credit Suisse’s ADR closed on Friday on the New York Stock Exchange at $6.17, a year-over-year decline of more than 40 percent. Nomura has lost more than 30 percent year-over-year while the serially-troubled Deutsche Bank, which was a $120 stock in 2007, closed on Friday in New York at $9.98”.
As of 8:47 a.m. (ET) this morning, Dow futures are down 553 points; Bitcoin futures have lost 17 percent of their value on the news that cryptocurrency lender, Celsius Network, has frozen withdrawals. The 5-year Treasury note has spiked to yield 3.38 percent, a 50-basis point increase in a month, leading to an inverted yield curve against the 10-year Treasury note, which is trading at 9:01 a.m. (ET) this morning at a yield of 3.27 percent. (An inversion signals a rising recession risk.)
Bill Holter’s Commentary
Coming to a bank near you!
There’s a run on Chinese banks and it’s being ignored by the world
There’s a run on Chinese banks and it’s being ignored by the world
ECONOMYBy Henry Chia On Jun 12, 2022
In the anatomy of an economic crisis, a bank run is the point of no return.
Bank runs occur when people scramble to withdraw cash from banks in fear of collapse. In the worst cases, banks’ liquid cash reserves are exhausted, not everyone gets their money and the bank defaults.
It’s a grim scenario which, fortunately, has occurred rarely in history.
Bill Holter’s Commentary
This is no way to run a Ponzi scheme! Who’s running this show anyway?
10-year Treasury Yield Tops 3.45%, The Highest In 11 years
The 10-year Treasury yield rose to its highest level in more than a decade as investors continued to assess the prospect of the Federal Reserve taking the most aggressive step yet in its fight to lower soaring inflation.
Bill Holter’s Commentary
And you thought your house was worth how much?
Bill Holter’s Commentary
…and here is the rest of the story!
Fears Of Data Abuse As Chinese Health Code Turns Red For Financial Scandal Protesters
Victims of what could be one of China’s largest financial scandals found themselves unable to step outside to join planned protests because their health QR codes had turned red, reigniting fears that the large-scale data collected for contact tracing would be abused for other uses.