The entire financial sector is built on a house of cards. Everything is leveraged against everything, it's complete bullshit and everyone knows it. There are firms trying to us use NFTs for collateral right now, and they are pushing for an NFT ETF.
There is now a LOT of bad Russian collateral paper that is now worthless. They can't give it away, a significant amount of wealth is now in default on loans they took out. They can't even pay if banks demand it, because they are locked out of the financial system. This means the banks will soon be in default as well.
The reason they are so aggressively going after Russian oligarch assets like yachts, is not to "own them", it's because they desperately need to clawback some collateral.
Look at the Credit Suisse Credit Default Swap chart. The price of CDS is at all time high. This means the demand for default protection is at all time high. The next financial crisis will be credit/debt of large banks, investment firms, and companies. This crisis is going to be worse than 2008 because it will truly be global. There's no recovery from this, there is nothing federal reserve can do due to inflation.
what's that from? (not the margeritas machine ep?)
Jackson Moore
tfw just got dual citizenship with mexico so now after the USA collapses I can peacefully live in my dads ranch where he was born
Michael Young
The pinewood derby episode. I think it’s called pinewood derby
Joshua Diaz
Should I buy a house now user?
Isaiah Edwards
>The pinewood derby episode. I think it’s called pinewood derby with racing that little toy cars on a track? dont remember that scene. thanks
Jace Parker
Enh, up to you user.
Dominic Evans
>There is now a LOT of bad Russian collateral paper that is now worthless its actually very little for foreign banks. its austria (raiffeisen), france (societe general) and italy (unicredit). only raiffeisen has relative big stake of exposure risk. 12% of loan book is (10% russia, 2% ukraine).
>Look at the Credit Suisse Credit Default Swap chart. The price of CDS is at all time high. This means the demand for default protection is at all time high. the implied 5y default is like fucking nothing at a 40% recovery rate. there is math out there. do it. if you dont - dont write about it.
the credit suisse got in the news badly 3x in the last 12-24months. greensill, the archegos familiy fund blow up and the 'corrupt leaders' account dating back decades. someone has something to shoot them ready for attack. then there is the swiss national bank. they got the fucking whole nasdaq on the balance sheet. its some weird sort of extortion going on why the swiss got in the cross hairs this heavy.
Credit Suisse is being sued in criminal court for helping russian oligarchs. Their problem is not widespread.
Mason Davis
I feel like this is the top.
Angel Johnson
I agree, I wouldn't buy property now, if SHTF then alot of people are going to die and property titles may become meaningless rather than just worthless. I think this is the top of everything, whole house of cards is about to fall down.
Gavin Jenkins
Can you explain what this means and what will happen in the future, to me, a brainlet and retard.
Caleb Harris
credit default swaps, aka bad debt funds, are mooning again. last time that happened the US housing market crashed.
Thomas Perez
Everyone's retirement is cancelled.
Caleb Thompson
i said that the amount of banks having direct problems bc they had business in russia is limited to very few.
i said that a cds (credit default spread, basically a protection bet, like a insurance policy) like in op pic rel doesnt mean shit since the probability of default is low. this represent something like a 2% probability of default.
and i said that for some weird reason it seems to be that someone, somebody, something got reasons to put swiss banking in the news for reasons i dont know. if you dig at banking and thir clients/past or whatever you come up with dirt. the biggest cocaine bust the united states customs and border protection pull off in their 230 year history happend on a ship owned by jp morgan leased to msc (from switzerland). 20 tons coke woth billions. just one random example. banking unrelated. lots of dirt.
maybe i made it more clear if not you need to ask a bit more specific.
Joseph Bell
the graph is going up, thats a good thing op you fucking retard just buy the dips
