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 💥
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (94)
sorted by:
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.
Thank you kindly, fren!! I am a survivor-in 78 years of life I've seen many boom and bust situations; but now "The best is yet to come"... 😊
If everything goes bust, there's nobody to collect the debts so everything goes back to 0. The debts would even be erased.
However, I think the time it'll take for this to happen will be long and painful so people who get in a mountain of debt will suffer much more.