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Thread: Are Banks going Belly Up?

  1. Link to Post #161
    Avalon Member Ravenlocke's Avatar
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    Default Re: Are Banks going Belly Up?

    https://twitter.com/TheCradleMedia/s...57722906771457



    https://thecradle.co/article-view/24...-bank-official

    $51 billion lost by Lebanese depositors since 2019: Bank official

    The Secretary-General of the Association of Lebanese Banks, Fadi Khalaf, revealed that approximately $51 billion of Lebanese depositors’ funds have been lost since late 2019, Sputnik reported on 16 May.

    While speaking about Lebanon’s banking crisis and ongoing negotiations with the International Monetary Fund (IMF), Khalaf stated that it has been “forty-three months, during which depositors lost fifty-one billion dollars of their deposits, and the state is still discussing projects, then withdrawing some of them and reformulating others, and if some laws are approved, the IMF is dissatisfied with them.”

    He said that the $51 billion of depositors’ funds were dispensed as loans granted to the private sector or to the government to fund the purchases of imported goods, including fuel.

    Funds loaned to the government came from mandatory bank reserves, which are hard currency deposits parked by local lenders at the central bank. These reserves represent a percentage of customer deposits and are usually not drawn upon except in exceptional circumstances, with the correct legal permission.

    The secretary-general of the Association of Banks mourned what he described as “politics” that “preferred to transform the Lebanese economy into something resembling communist economies, yet the state did not even respect the concepts of communism, so the bulk of what was squandered went to the pockets of powerful beneficiaries [in Lebanon] and abroad more than to the people.”

    In March, the IMF warned that the government must stop borrowing from the central bank and that its failure to implement reforms had exacerbated the country’s economic and banking crises.

    “One would have expected more in terms of implementation and approval of legislation” related to reforms, IMF mission chief Ernesto Rigo told a news conference, while noting “very slow” progress. “Lebanon is in a very dangerous situation,” he added, in what Reuters described as “unusually frank remarks.”

    Lebanon signed an agreement with the IMF nearly one year ago but has not met the conditions to secure a $3 billion aid package.

    Without implementing reforms, Lebanon “will be mired in a never-ending crisis,” the IMF warned in a written statement.

    Since 2019, the lira has lost 98 percent of its value against the US dollar, leading to crippling inflation, mass poverty, and a wave of emigration from the small Mediterranean nation.

    The crisis erupted after decades of reckless spending and corruption among Lebanon’s elite, some of whom led banks that lent heavily to the state, including billionaire and former prime minister Saad Hariri.

    Losses in the financial system are estimated at more than $70 billion, the majority of which were accrued at the central bank, which borrowed dollars from private banks at unusually high-interest rates to maintain an unsustainable peg of the lira to the dollar.

    “No more borrowing from the central bank,” Rigo said, while warning that Lebanon should move towards a floating exchange rate based on market forces rather than maintaining multiple rates determined by the central bank.

    ¤=[Post Update]=¤

    https://twitter.com/TheCradleMedia/s...03490627420167



    https://thecradle.co/article-view/24...ral-bank-chief

    France orders arrest of Lebanon central bank chief

    French prosecutors have issued an arrest warrant for Lebanon’s Central Bank Governor Riad Salameh, Arab News reported on 16 May.

    The warrant comes after Salameh failed to attend a court hearing in Paris. Prosecutors intended to press preliminary fraud charges, court documents and two sources said.

    Salameh has attempted to avoid arrest and has failed to show up for court hearings in his native Lebanon in the past.

    In March, the Lebanese Ministry of Justice asked the judiciary to arrest Salameh and his assistant Marianne Majid Howayek, as well as to seize their properties and freeze their bank accounts.

    The request came after Salameh was absent from a hearing held on 15 March by a local judge along with European investigators, who were tasked to investigate charges against the central bank governor, including “bribery, forgery, money laundering, illicit enrichment, and tax evasion.”

    In March 2020, France, Germany, and Luxembourg seized properties and froze assets belonging to Salameh worth 120 million euros in a major operation linked to money laundering.

    The accusations stem from the activities of a brokerage firm Salameh and his brother established, Forry Associates, that took some $330 million in fees for brokering the sale of Lebanese government bonds between 2002 and 2015, $200 million of which was allegedly transferred to Salameh’s personal accounts with various Lebanese banks.

    The sale of these government bonds was at the heart of a banking Ponzi scheme established by Salameh that became unsustainable and finally began to collapse in October 2019.

    This resulted in a financial crisis that caused the value of the Lebanese lira to crash by some 98 percent, wiping out the life savings of many and causing widespread poverty as prices of everything, including essential goods, skyrocketed. Some estimates of losses for Lebanese bank depositors have amounted to roughly $111 billion.

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    United States Avalon Member halcyon026's Avatar
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    Default Re: Are Banks going Belly Up?

    Here's a dataset on FDIC failed banks since 2000.

    https://www.kaggle.com/datasets/nidzsharma/failed-bank

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  5. Link to Post #163
    Avalon Member Ravenlocke's Avatar
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    Default Re: Are Banks going Belly Up?

    https://twitter.com/dana916/status/1685121275881021440


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  7. Link to Post #164
    United States Avalon Member onawah's Avatar
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    Default Re: Are Banks going Belly Up?

    Is the US the Next USSR? John Michael Chambers Drops Intel
    7/30/23
    https://forbiddenknowledgetv.net/is-...s-drops-intel/

    "I had a whole news show planned for Friday night but then, American Media Periscope founder, John Michael Chambers showed up and we had a conversation, instead.

    I begin by talking about Dr Joseph Mercola, who was de-banked by Rockefeller-owned Chase Bank. Chase not only shut down Dr Mercola’s bank account but they also shut down the accounts of his employees AND their family members! The Rockefellers apparently want to transform the United States into North Korea.
    https://forbiddenknowledgetv.net/dr-...ndemic-crisis/

    Mercola had already been de-banked by another institution a few years ago and he was threatened to such a degree; that he would be sued and that his web domain that he’s operated since 1997 would be seized, that he was forced to remove 26 years of content from his website. He no longer leaves posts up there for longer than 48 hours, having now moved his blog to Substack. That he’s been de-banked again – in addition to his employees and their family members – is a signal to him that the Satanic Deep State is getting ready to launch a new attack that makes COVID look like a walk in the park.

    John Michael Chambers is no stranger to de-banking and de-platforming; he was de-platformed by all of the social media companies and he was de-banked by PayPal, so I wanted to get his 40,000 foot view of this second de-banking of Dr Mercola.

    We’ve also all been hearing lots of rumors about the imminent collapse of the US dollar and/or the imminent collapse of the entire Western banking system and how everybody in the so-called “Free World” will soon be effectively de-banked.

    The Federal Reserve System has announced that their FedNow service has gone live. https://www.federalreserve.gov/newse...r20230720a.htm
    Greg Reese made a report about how the FedNow will be the transaction processing system for the Federal Reserve’s programmable Central Bank Digital Currency.
    https://forbiddenknowledgetv.net/the...dc-this-month/

    Since John is a financial guy, I wanted to get his views on these rumors and developments and where he thinks things are headed financially, politically, geopolitically, etc over the next 24 months.

    John talks about how the Federal Government of the US is about to collapse, just as the Soviet Union did but that this doesn’t
    mean that the US dollar ends – same way that the Russian Ruble didn’t end. Like the Ruble, the USD will get severely pummeled for a while but it will survive."


    Source: https://www.rumble.com/video/v30frr8/?pub=ijro7
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  9. Link to Post #165
    United States Avalon Member Ratszinger's Avatar
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    Default Re: Are Banks going Belly Up?

    I think the citizenry of the USA is tapped out for credit so badly they simply had no choice but to open the border for an inflow of new creditors that they can loan $ to so the FED can continue to print new money.

    Most Americans cannot come up with $400 dollar cash for an emergency according to new reports being read by talking heads on TV local channels lately. Earlier I saw an article saying most US citizens had two or more maxed out credit card debt with the av. balance owed of get this? $80,000 and that is not even including the mortgages, sometimes double and triple ones, and insuracnce a major bill these days. Then we have car and lease payments, school for children or college, some have adult children living at home again and have inherited some fo their bills.

    Then we have utilities, groceries and dealing with inflation and by the time we get all that and water and trash paid for there is hardly any left pay check to pay check. As I've pointed out elsewhere here, when Rome was tapped out the same way for cash and credit they freed the slaves to save the empire. For a time that worked until those slaves ruined their credit and cash situations also and then the empire began crumbling. We in the US were facing that and in our usury system of money creation that cannot happen. So we didn't have slaves to free, we opened the borders.

    So due to the fact that Americans have wide and far mismanaged their credti and cash situations so badly and still do so that when they can't pay anymore bills and lose their home, have their cars taken and are kicked to the streets they have new clean slates to loan money to that can pay the bills and isn't strapped in debt and a cash flow situation to move right into them and pick up where they left off. And best of all unlike Rome where there was a limit to the number of new creditors for us it's an endless stream. So when the new residents mismanage their situation the same as the first did they have new to replace them over and over and over to infinity.

    As far as the Federal Reserve and your surviving banks are concerned those immigrants are more important to them than the tapped out law abiding native citizenry!
    The genius consistently stands out from the masses in that he unconsciously anticipates truths of which the population as a whole only later becomes conscious! Speech-circa 1937

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  11. Link to Post #166
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    Default Re: Are Banks going Belly Up?

    Quote Posted by Ratszinger (here)
    As I've pointed out elsewhere here, when Rome was tapped out the same way for cash and credit they freed the slaves to save the empire. For a time that worked until those slaves ruined their credit and cash situations also and then the empire began crumbling. We in the US were facing that and in our usury system of money creation that cannot happen. So we didn't have slaves to free, we opened the borders.

    Precisely because Rome and the U. S. refuse to participate in Debt Jubilee.

    That is how Babylon and Greece managed it.

    Here, we are so much not supposed to know about it, that even mentioning it, all you get is blank stares.

    Otherwise, yes, all that happens is human churn with no regard for widespread misery, coupled with the fact that most of the perpetrators have easy escape routes, i. e. multiple homes around the world.

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  13. Link to Post #167
    Avalon Member norman's Avatar
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    Default Re: Are Banks going Belly Up?

    Yet, the banks seem to feel like they have enough power, still, do the de-banking tactic.

    How does that fit in ?

    People need banking as a payments service now like never before. Elon Musk is probably feeling a bum rush from them to get his X service fully functional fast enough, not unlike how Q and Trump bum rushed the pandemic etc.

    Net result, one way or another, we are being pushed into the arms of services that handle the parts of 'banking' that we cannot function without.
    ..................................................my first language is TYPO..............................................

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    UK Avalon Founder Bill Ryan's Avatar
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    Default Re: Are Banks going Belly Up?

    This fascinating interview with Alex from Reporterfly (which I was NOT well-equipped to fully understand) was aired live on The Duran yesterday. This might be the best thread for it that we have, though it's not about the banks going belly up: it's about everything going belly up — starting with the imminent implosion of the derivative market, possibly triggered by the rise in natural gas prices this winter.

    The market spot price of natural gas today is $3.12. When it nears $4, Alex states, as he suspects it will do quite soon, everything will come down.

    We've seen many 'sky-is-falling' warnings about the precarious state of the global financial system, but this video is so apocalyptic all the others pale in comparison. It'd be easy to dismiss, if it didn't all sound so very serious and plausible.

    Derivatives and the Coming Collapse


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  17. Link to Post #169
    United States Avalon Member onawah's Avatar
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    Default Re: Are Banks going Belly Up?

    (Banks in China are going belly up already. Just a few signs of it, among many):

    Over $150 Billion Flowed Out of China, with Hong Kong as a Hub for Underground Banking
    China Observer
    292K subscribers
    37,865 views 10/17/23

    "Under the banner of "common prosperity" promoted by Xi Jinping, China is witnessing a massive capital outflow. Due to its unique position, Hong Kong has become a transit hub for the wealth exodus of China's elites.
    On September 29, the Hong Kong Monetary Authority announced that renminbi deposits in Hong Kong increased by 6.0% in August, reaching 962.5 billion yuan (about 134 billion US dollars) at the end of August.
    On the other hand, the Hong Kong foreign exchange fund, which supports the stability of the Hong Kong dollar's exchange rate and essentially serves as the government's fiscal reserve, decreased by 35.8 billion Hong Kong dollars (approximately 4.57 billion US dollars) in August.
    This indicates the undeniable capital outflow from Hong Kong, and the scale is quite significant."



    ***********

    (Local governments in China are in deep debt. They try to compensate by taxing and ticketing the populace more. )

    Shocking Truth Behind ‘Great Escape’ In Changchun; 6 Charts Reveal China's Mountain of Local Debt
    China Truths
    28.6K subscribers
    10/17/23

    "Shocking! Changchun Suddenly Stages A ‘Great Escape,’ The Truth Leaves People Completely Stunned
    6 Charts Reveal China’s Local Government Debt Problems
    Iphone 15 Sales In China Are Worse Than Iphone 14
    Another Economic Problem For China: Commercial Real Estate Downturn



    ***********
    What This $100B Ghost City Reveals About China’s Property Crisis | WSJ
    The Wall Street Journal
    4.76M subscribers
    Sep 11, 2023

    "Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like the $100 billion Forest City in doubt.

    The real estate project in southern Malaysia was planned to house around 700,000 people, but only 9,000 people live there with most units left empty. So why are Chinese real estate companies like the Evergrande Group and Sunac falling into financial distress?

    WSJ explains why China’s real estate developers are in the red.

    0:00 Forest City
    0:48 China’s real estate market
    2:56 What’s next? "


    (Another BIG problem not mentioned here is that typically Chinese construction is deplorably shabby and unsafe, actually falling apart soon after building. )
    Last edited by onawah; 18th October 2023 at 06:16.
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