RE: Banks ?.16 Mar 2023 14:45
Not sure if it's already been noted here, but was hearing Saturday afternoon that (coincidentally) the CEO and CFO of SVB, sold a (combined) stock value of $4.01 million of their holdings from 27th February. Also some observers were commenting late last week the SVB crash was fundamentally due to their being caught on the wrong side of US Gov' securities tanking. 97% of depositors not insured by the FDIC insurance scheme as they held in excess of the maximum $250,000 funds covered. $200 billion of assets
Wars, funded by printing trillions of funny money, and supressing interest rates to zero. The high interest model that finally had to be be introduced this past year, caused the SVB collapse, as they had diverted into hold-to-maturity porfolios - in effect 10 year mortgaged-backed-securities, (the very cause of the 2008 crash) which could not be sustained as investors sought higher returns.
I said here before the war, Germany would become a basket case if it lost its cheap gas supply. It's been vassal state of NATO for almost 80 years - and the process of its de-industralisation is just begining. Greece hollowed out courtesy of Goldman Sachs and the globalist/EU cabal.