Bob Michele (JP Morgan's CIO) on Bloomberg this morning talking about the Fed's emergency BTFP interventions & the liquidity crisis in banks.
He also specifically mentioned Truist Bank 😬
Truist Bank has over $500 billion in assets & could be on the verge of failure along with Charles Schwab
(twitter.com)
💥 BANK COLLAPSE 💥
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If you look at US Debt Clock on the tight, we have 280 times as much paper silver as physical silver that's supposed to back it.
Ah, a 'derivitive' infection equal to the derivitives held by the big banks to the tune of around 2 Quadrillion $$$.
Yep, all money and value will disappear.
Debt Jubilee but extreme starvation will occur. That will happened when everything else has failed though, we are not near that point yet.
2020 destroyed my side business of buying and selling collectibles, and because I don't trust government funding, I went into fair debt keeping groceries coming in-a debt jubilee is what I am banking on; paying as little as possible to keep from losing "credit status" (AKA wage slavery)..
I think the debt jubilee will come after much much pain but I could be wrong, it may be sooner than I think. It'll be after the 600 Trillion+ derivatives contracts fail.
I pray everything goes well on your end.