Chinese AF CA16 747 Xi Xinping departed SFO back to Beijing-met with Marcos earlier today
Demanding little shit aren’t you?
Any other requests see above
‘Big Banks' See $63BN Deposit Outflows Last Week, Loan Volumes Continue To Contract
(This is moar of yesterdays post but includes analysis and comments and confirms that without the Bank Term Funding Program (BTFP through Treasury) there would be perceived decimation in the regional banking space-because those bond losses do exist however they are allowed to not recognize them as the regulators allow them to place them in the ‘hold to maturity’ accounting bucket. What habbened at Silicon Valley Bank (and First Republic) was they had to sell those bonds at big losses because an electronic bank run triggered and in SVB’s case they only had something like 5% of total deposits as cash on hand. Make no mistake-Peter Thiel (who was the reported trigger) was told to send out the twatter post telling everyone to “get out” so the system could gauge the public reaction to them guaranteeing everyone’s deposits-he did not just decide to do this on his own -his handler instructed him to do so. The next FDIC Qrtly banking report will show a lot moar ‘hold to maturity’ losses but they will quickly make the point that it has improved (this is fact as it has but still billions of unrealized losses exist in US Banks and trillions worldwide. Incidentally this is how ALL the banks “pass” the annual FRB Stress test….they are allowed to do same with much moar than bonds with ‘hold to maturity’ but they call it “mark-to-model (fantasyland) and the FRB regulators go “ok nuffin to see here”. Thus why NONE ever fail. Simple fix would be mark to market (reality) or in some cases “Mark it Zero!” hat tip to Walter Sobchek
Despite another rise in banks' usage of The Fed's expensive BTFP bailout facility (to a new record high), and regulators set to force banks to The Fed instead of the FLHB for cheap funds, regional bank shares surged this week as yields tumbled… Amid the ongoing upside-down world of Schrodinger's deposits, we wonder what 'adjustments' The Fed has in store for us this week.
On a seasonally-adjusted basis, banks saw a $50BN deposit outflow last week.. And for a pleasant change, non-seasonally-adjusted bank deposits also saw outflows (of $41BN)… Removing foreign bank deposit flows, the picture for domestic bank deposits was still consistent, with a $57BN outflow NSA (-$62.7BN Large banks, +$5.4BN Small Banks); and a $53BN outflow SA (-$53.8BN outflows for Large Banks but $0.6BN inflows for Small Banks)
On the other side of the ledger,loan volumes contracted for the second week in a row (large banks -$15.2BN and small banks -$2BN). (Ain’t it a bitch in a debt based economy and you have contraction-that will not go unnoticed for long) Finally, the key warning sign continues to trend ominously lower (Small Banks' reserve constraint), supported above the critical level by The Fed's emergency funds (for now)… As the green line cap 5 shows, without The Fed's help, the crisis is back (and large bank cash needs a home - blue line - like picking up a small bank from the FDIC).
KBW-the big bois
Bill Gross’ latest handoff to retail setup
KRE - SPDR S&P Regional Banking ETF
>>19928289 pb Money Market Fund Inflows Continue As Fed's Bank Bailout Fund Hits Another New High
Just remember the banking system is “strong and resilient” as they had no less than 20 different speeches/speakers making sure (You) know that
From Nov 6th
Bill Gross Calls Bottom on Regional Banks in ‘KRE’ ETF
And he may be correct but for the wrong reasons-complicit media downplaying what is described above…and btw Bill ‘the cat’ “Ack”man certainly had some inside help as he knew when the Sovs were done selling US Debtto the exact dayand Jamie Dimon was in China just before the SHTF in bond land so sorry no one is THAT good turning an aircraft carrier around that quickly w/o insider help. Some skill involved for sure so not saying it’s ALL that but on a consistent basis these asshats do this more often then not and then claim “all skill”-if it were there are many smart people so should be many moar examples. Several years ago a company (market maker) tried to IPO and stated they had ZERO losses in almost 3y of trading-it was a footnote in the Michael Lewis book Flash Boys and they were called Elliot Wave Theory LLC or some shit like that. Anyway this brought way too much attention to it so it pulled the offer…changed its name to Virtu Financial and they are the market overlord-the bottom of the iceberg where FTX would be the top however Virtu controls ALL asset classes via its sophisticated algorithms (bots)
Many years later and just before the $ was taken off gold convertibility France sent a warship to New York harbor and demanded its gold back
After the C_A tried to kill him several times de Gaulle dint fuq around even said a few years before (paraphrasing) dollar is impossible as a trade unit.
That suspension triggered a wave of redemption requests which ended Breton Woods (unofficially)
Then Kissinger and the Arabs set up the petro dollar and that lasted until about 1999
Y2K was way moar about the death of that than anything else
>>19934923 Big Banks' See $63BN Deposit Outflows Last Week, Loan Volumes Continue To Contract + mktFag analysis/comments