The Whitehouse has released a page on The Origins of Covid-19
(www.whitehouse.gov)
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Fed shouldn't be lowering rates - they're too low already. What we need to do is raise them to help normal people and fight back inflation, rather than bailing out the banks even harder. Let them continue to collapse - they already collapsed bigger than all of the 2008 financial disaster over teh last few years and media is keeping quiet about how badly those banks need bailing out. Lower rates will just restart the housing bubble and resume the 2008 collapse's pause that is clearly not over. Rates right now are simply where they were before the bailouts - these are rates for a normal economy with no worries about inflation. Lowering rates increases inflation that hurts everyone. The bailout rates only exist to keep banks who have no intention of functioning on their own forever on life support, to the detriment of everyone but the most wealthy.
Switzerland's biggest bank is next to collapse. They're actually trying to be exempted from the swaps they inherited from Credit Suisse's collapse because they shorted American companies so much it destroyed them... and their short positions will never get any better. They're doomed and begging to just not pay their debts to American shareholders. And they aren't alone. Shorting should just be illegal, execute short sellers like South Korea as treasonous criminals trying to destroy companies for profit. If a company is going to fail it will, they don't need to organize and execute a takedown to make that happen... or profit more than the company's value on it. Thats an unsustainable business model that necessitates recessions and depressions because inevitably they will fail to bring a company down and that company's growth will destroy them. Shorting is an incentive to create economic disasters intentionally.
Infinate losses?
*Debit Suisse FTFY
That whole episode is absurd isn't it? They refused to disclose what company they shorted, but it got out. And even if they had shorted it 100% - literally every share - they would have been fine. Expensive, sure, billions in losses... but they were one of the worlds largest banks. But no, they leaked over 200% reported shorting - still miniscule to those holding trillions in assets - before adjusting that number down to what? 60%? 20%? and somehow they still collapse under the weight of that debt. Debt they pay something like 0.1% interest against to maintain forever. Debt simply owed on illegally counterfeited shares they made trying to destroy a successful company with enough money to pay off that supposed short debt... if that was real data and not completely made up. The smaller company shouldn't be more wealthy than those holding trillions in assets.
But no, they short companies so hard that a company simply doing well collapses them because its value - tiny though it is against major banks managing trillions in assets - is somehow a threat to the entire financial system. Thats how badl the criminal shorting practice has become. And why they actually spent years repealing the legal blocks taht protected us from the Great Deperssion happening again. Gensler deregulated Glass Steagall so that he and his cronies would be able to profit on a Depression and close out shorts when whole industries collapse from the economic turmoil. They have een openly said their shorts will be foisted on retirement and pension accounts because thats what they do when they get caught committing crimes. Shorting is at its core pure evil.
Chukumba was the worst.
It’s a good thing Elon and Trump had naked shorting.
https://x.com/elonmusk/status/1354890601649610753?s=46&t=1hqd7L7npP6dgj7VPr1JfA
Infinite loses.