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:
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.