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The global financial nuclear time bomb


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18 minutes ago, Moonbox said:

The link you posted did, fool.  Your above quote is nothing but you telling us things about Michael Burry - none of it is Michael Burry telling us what he's predicting.  Show us what he says we're in store for, otherwise you're still just shouting



Oh yeah, one more.  Burry said Tesla stock was gonna take a dump.  Then it did.

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  • 2 weeks later...

FedEx layoffs…



“Wednesday’s announced cutbacks are part of a reduction of 12,000 jobs since the June 1 start of FedEx’s 2023 fiscal year, according to a company spokesperson. In September, FedEx reported subpar fiscal 2023 first-quarter earnings, which it blamed mostly on a sudden and dramatic drop-off in trans-Pacific volumes and an inability to cut costs fast enough at its FedEx Express air and international unit to align with the lower demand.”


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The second largest bank in Switzerland posted their biggest annual loss since 2008. Their customers have been withdrawing their money out of that bank to the tune of 100 billion, in the last quarter alone.  It isn’t pretty.

The company saw a 96% plunge in equity trading revenue and 84% drop in fixed income trading revenue. Wealth Management revenue down 17%. You get the idea. Things are tough over there at Credit Suisse, even as it prepares a spinoff of its CS First Boston unit and did a transaction to that effect today. So those shares are trading down sharply.”




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  • 3 weeks later...

So I heard on the down low that India started selling off USD to support their currency.  Apparently other countries might be also selling off USD, putting downward pressure on the yankee buck.  We shall see what develops.

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“Fears of contagion have reached Canada, India and China. In the UK, SVB’s unit is set to be declared insolvent, has already ceased trading and is no longer taking new customers. On Saturday, the leaders of roughly 180 tech companies sent a letter calling on UK Chancellor Jeremy Hunt to intervene.

“The loss of deposits has the potential to cripple the sector and set the ecosystem back 20 years,” they said in the letter seen by Bloomberg. “Many businesses will be sent into involuntary liquidation overnight.”

The SVB failure has implications around the world it seems, which could make for an interesting Monday.  And Yellen has apparently said no bailout is coming.  


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