Swift

[rumrocks]

This is a little unnerving . . . . .

Lehman weekend 2.0

Which brings us to the punchline of Pozsar's warning: "there is no difference between Lehman unable to pay back money funds because its tri-party clearing agent is unwilling to unwind o/n repo trades, and banks unable to receive and make payments because they are out of SWIFT." He then adds that the Herstatt risk – or settlement risk – owes its name to a mishap at a single bank, but "the risk in the current scenario involves an entire country’s banking system."

And here comes Pozsar with another Lehman analogy:

Banks’ inability to make payments due to their exclusion from SWIFT is the same as Lehman’s inability to make payments due to its clearing bank’s unwillingness to send payments on its behalf. History does not repeat itself, but it rhymes…

[TOM4CWB]

This is a little unnerving . . . . .

Lehman weekend 2.0

Which brings us to the punchline of Pozsar's warning: "there is no difference between Lehman unable to pay back money funds because its tri-party clearing agent is unwilling to unwind o/n repo trades, and banks unable to receive and make payments because they are out of SWIFT." He then adds that the Herstatt risk – or settlement risk – owes its name to a mishap at a single bank, but "the risk in the current scenario involves an entire country’s banking system."

And here comes Pozsar with another Lehman analogy:

Banks’ inability to make payments due to their exclusion from SWIFT is the same as Lehman’s inability to make payments due to its clearing bank’s unwillingness to send payments on its behalf. History does not repeat itself, but it rhymes…

I note the Russian Rubble was as low as .007480, is at .008775, and opened at .011105 tonight to the US$ now down over 25%.

[errolanderson]

Tough financial day for Russia . . . . Largest state-owned bank Sberbank value apparently collapsed 75 percent in past 24 hours. Market cap from $100 billion to $4 billion.
Investor run on banks . . . .

[jazz]

Tough financial day for Russia . . . . Largest state-owned bank Sberbank value apparently collapsed 75 percent in past 24 hours. Market cap from $100 billion to $4 billion.
Investor run on banks . . . .

These have been normal days for Turkey for more than a year and they still seem to exist.

[foragefarmer]

These have been normal days for Turkey for more than a year and they still seem to exist.

Well 5 days can't be compared to more than a year.

Your Schadenfreude is a little more than obvious on many of your posts Jazz.

Try to hold back, it doesn't look good on you

[jazz]

Well 5 days can't be compared to more than a year.

Your Schadenfreude is a little more than obvious on many of your posts Jazz.

Try to hold back, it doesn't look good on you

LOL, you are hilarious. You still think this is about a virus and Ukraine freedom who just under went a CIA backed coup in 2014 and installed an actor as President. Ukraine scored near the bottom 10 in the world in democracy and near the top in corruption.

Whatever Putin is doing in there, the WEF and blue checks and warmongers like Clinton, Soros. Schwab and Kissinger sure dont like it. Sounds like this country was a good ol spot for washing foreign donations and backing real nazis.

[bucket]

And just think if the LNG plants were built now along with the required pipelines to export to help our allies...

We could probably be where Russia is with debt ratio .... with the right people in government.

[errolanderson]

Errol just a reminder you bought the mainstream narrative the biggest risk was deflation for the past number of years. Even claiming inflation was dead. All we have seen is the consequence of inflation of the money supply, dollar devaluation. Be careful buying the mainstream narrative.

Oil, grains leading the upward charge until calm eventually hits, then limit down days ahead. Cattle feeders battling ongoing heavy red ink, prices remain depressed. Pulses are struggling. Depends on the industry. Heavy losses in the financial world. Rate hikes ahead? Deflationary has turned into inflation, (not for all) but even oil will turn suddenly turn lower again. Next on the table to feel the price pinch . . . real estate. The setup for a heavy price setback is real . . . .

[TASFarms]

LOL, you are hilarious. You still think this is about a virus and Ukraine freedom who just under went a CIA backed coup in 2014 and installed an actor as President. Ukraine scored near the bottom 10 in the world in democracy and near the top in corruption.

Whatever Putin is doing in there, the WEF and blue checks and warmongers like Clinton, Soros. Schwab and Kissinger sure dont like it. Sounds like this country was a good ol spot for washing foreign donations and backing real nazis.

Would be interesting to see how many shell company’s there are in Ukraine and ties to Ukraine.

[TASFarms]

http://ncio.ca/briefings/index.php/2021/07/10/nsicop-found-ample-evidence-that-both-justin-trudeau-and-chrystia-freeland-are-under-the-influence-control-of-foreign-states-and-entities/?fbclid=IwAR0J0IJ2XQ6ePHadf0sqIgvKlLosoTVQ4Ydd_W4C Og0qsGidmMKaQB9X97E