Credit Suisse: Case study in lies made by the largest global financial institutions
Absolutely mind-boggling statements, right on the Credit Suisse website. It should read: Build Banks Back Better.
Bankers working through an entire weekend? That can only mean one thing..
Credit Suisse is one example of an ‘insolvent bank.’
They will soon not have enough money to cover basic operating expenses, like paying their tellers and keeping their office lights and electricity going.
This is obviously a problem if you use them as a bank — because if they stop functioning and can’t make payroll, neither can you or your business.
Due to their size and nature as a G-SIB bank, there must be a practically immediate resolution to this problem — and they are working throughout the day today (Sunday) to try to come up with one.
UBS — another bank — has made a lowball offer to buy them. If this deal is not made by tonight, the expectation is that there will be further global banking pandemonium tomorrow (Monday) morning. Might happen either way — especially if there’s another insolvent bank on the loose that nobody knows about.
Given that, to tamp inflation, the ECB is continuing to raise rates — the likelihood that the Fed will follow suit is quite high — thereby causing more of the banking pandemonium we may have just seen the beginnings of. Bad decisions are being and continue to be made by those with the power to do so.
Ultimately, everyone will pay a heavy price for these bad decisions.
Have a look at what Credit Suisse has said of itself in self-congratulatory tones — over just the last few weeks.
“Top 2” — outside the US
“Leading” nothing because it’s attempting to sell itself for pennies so someone else is responsible for the mess it made.
“Differentiated and aligned” — AKA nearly no longer alive.
“Position of strength” — so strong in fact, it’s nearly nonexistent.
“Conservatively positioned” — into the ground.
So much for Swiss bankers.
This is the practical equivalent of JPMorgan attempting to to buy Bank of America because it’s insolvent.
Total debacle — by design — and European taxpayers are going to foot the bill one way or the other. Despite any attempts to gaslight otherwise.
Perhaps the ‘best’ (if there is one) part of the Credit Suisse self-congratulatory website is this bit in the Outlook:
This ought to read:
“We remain confident that our bank will be parted out and sold for pennies on the dollar.
We are focused on destroying ourselves.
The old Credit Suisse is dead. Head on over to UBS to pick up your withdrawal…if they buy us.”
Build Banks Back Better.
This, and more gaslighting, can be found right on the About page of Credit Suisse.
Credit Suisse is trans solvent, sometimes solvent, sometimes not.
Primary bank for the cabal’s elites. Should be an interesting week for the financial systems. Panic on the rise?