https://www.podbean.com/ei/pb-t9986-130d760
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://twitter.com/DrEliDavid/status/1589992021561073669
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
…“The fact that Sam was willing to do this deal suggests that FTX was deeply impaired in terms of the run on the bank that began in the last 48 hours,” said Carter. “We don’t know exactly what the issue was, whether they were lending out or gambling with user deposits.”… (CNBC Crypto World 11/8/22)
‘Sam’ in the above quote is FTX CEO Sam Bankman-Fried.
Over the weekend the CEO of Cryptocurrency platform Binance, Changpeng Zhao (CZ), informed his 7 million followers on Twitter that his company was going to liquidate all holdings of FTT. FTT fell from $25 to $16 after CZ’s tweets and then on Tuesday fell to mid single digits when Binance said that they would sign a ‘non-binding Letter Of Intent (LOI)’ to purchase FTX.
2 Billion Dollars of Market capitalization was wiped out in the course of one day.
Talk about the potential for a ‘Mr. Potter’ to swoop in and buy the Bedford Falls Savings and Loan for pennies on the dollar. In this case Binance is Mr. Potter and FTX is the potential George Bailey who may have an ‘Uncle Billy’ event unfolding if the speculation in the CNBC article is substantiated…
George: Hey, Merry Christmas, Mr. Potter!
Potter: Happy New Year to you, in jail. Go on home, they're waiting for you! (https://www.quotes.net/movies/it's_a_wonderful_life_5869)
Are they waiting for Bankman-Fried? Think I’m being a bit dramatic?
When a principle in the industry says:…“It’s probably the most dramatic deal I’ve ever seen in the history of the crypto industry,” said Nic Carter, a partner at Castle Island Ventures’…(CNBC Crypto World 11/8/22)…it’s dramatic!
And then goes on to say …“The fact that Sam was willing to do this deal suggests that FTX was deeply impaired in terms of the run on the bank that began in the last 48 hours,” said Carter. “We don’t know exactly what the issue was, whether they were lending out or gambling with user deposits.”
In ‘A Wonderful Life’, Mr. Potter pointed out that everyone knew that George Bailey had been lending money to Violet Bick. He also inquired of George if he had been playing the market with the S&L’s money. Mr. Carter may be speaking for Potter in this case but he is essentially asking the FTX CEO the same questions.
Numerous other crypto firms have already collapsed this year including Celsius, Voyager Digital and Three Arrows Capital. Much of the stories that surround these situations are not good or heart warming for investors. In the case of FTX it may cascade because a ‘sister’ company, Alameda Research, has a high concentration of FTT that apparently involves leverage. That could mean a massive Margin call.
How many others are using leverage with the FTX token? How much will they be forced to sell to meet a margin call? How far can this waterfall cascade in the crypto markets and beyond?
Whether Mr. Bankman-Fried of FTX has as devoted a wife and customers as George Bailey did, I do not know, but it appears that he may need them. And pronto. And a guardian angel wouldn’t hurt -but the truth might.
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Is this a construction site or is something more ominous afoot?
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Watch the 41 second video.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Image credit: Yuri Nunes/EyeEm/Getty Images via ThoughtCo.
By Stan Szymanski
According to a recent Reuters article ‘Rise in U.S. consumer spending beats expectations; wage inflation slows’ Christopher Rupkey, chief economist at FWDBONDS in New York states:
‘…"Americans may say they are worried about inflation, but they are still out shopping, which keeps the economy growing for another quarter," said Rupkey, "There can be no chance that inflation pressures will subside in the near term from slowing demand."
I regularly watch Bloomberg and with one of the talking heads yesterday, I saw the same inability to actually take the kind of news that Rupkey shared above to its logical end in order to make sense of things for the average person.
If wage inflation is slowing and consumer spending is increasing then the consumer is literally ‘burning the candle at both ends’ in order to make those same ends meet in their household.
When the candle simultaneously burns on both ends and then meets in the middle there is nothing left and the lights go out. This advancing truth has been evidenced by looking at the U.S. household savings rate.
In ‘Saving it for later? Not anymore. High inflation eats away at Americans' rainy-day funds’, Jeffery Bartash (Dow Jones via Marketwatch and Morningstar) relays that the U.S. savings rate was three times higher in 2021. The rate is now the lowest it has been in 14 years. 14 years puts us back to the financial crisis of 2008 but if I dared to say that the US is in a financial crisis now I might be called a ‘conspiracy theorist’. I would rather be called a ‘conspiracy realist’ if you please.
In 2008 when the government/Fed bailed out the big banks/brokerages the thing is that the money went to the banks, not the common person. And so we had plenty of inflation since 2008, but until 2020 that inflation was by and large confined to the bond and equity markets as the money that went to the banks (even if they were well capitalized and didn’t need the money) was used to drive the S & P 500 from approx. 666 (not a coincidence, I’m sure) in 2008 to well over 4500 more recently; an increase in the area of 700%. Obviously the Federal Reserve and Wall Street were doing all this for the good of the common person (turn sarcasm off now…).
Only when the government gave the people the money in the form of the ‘Covid stimulus’ in 2020 (printed by the Fed) did the fires of inflation get lit under the assets and households of the regular ‘Joe’ and ‘Josette’.
Now those flames of inflation are consuming the savings of Americans (and the citizens of other money printing nations around the world).
In 2022 many money managers publicly stated that the U.S. consumer keeps the economy going and has up until now been a headwind to the Fed in any considered slowdown of rate hikes of the Fed Funds rate.
As recent as late July 2022…’The American consumer is still strong despite roaring inflation and will pose a challenge to the Federal Reserve’s mission to tamp down inflation, Bank of America CEO Brian Moynihan told CNBC’s Jim Cramer on Wednesday. (CNBC 7/27/22).
Of course you know by now that the Fed increased the Fed Funds rate last Wednesday by 75 basis points (3/4 of 1%). So the consumer is still spending. Just yesterday I saw that ‘US Consumer Credit Soars (+8.1%) To Pay For Bidenflation (+8.2%) As Personal Savings Craters -59.3% YoY’. This article confirms the above information that personal savings are only a 1/3 of what they were a year ago and dwindling fast.
How do we know that savings are dwindling quickly? Because people are now increasingly using their credit cards to buy groceries. In ‘Heating off, buying food with credit cards and staying in - the impact of rising prices’ we see that in England…’More than a quarter of people have started using their credit cards to buy food and a fifth have borrowed money to adjust to rising prices this year.’…Since U.S. Consumer credit is up 8.1% how much different is it in America? In my estimation, not much.
So in going back to the Reuters story that I began this writing with (Rise in U.S. consumer spending beats expectations; wage inflation slows), we see that consumer spending ‘beat expectations’. It is now self evident that as opposed to the Fed and the Wall Street money managers who portray it as a good thing, we can now see that rising consumer spending is clearly a horrible thing.
Why is rising consumer spending a horrible thing?
It is horrible because the consumer is forced to draw down their life savings down to the skin on their fingernails. It is horrible because the consumer has to borrow from their credit cards just to buy groceries! These are not ‘qualities’ to be bragged about by mutual fund managers. No. These are symptoms of a great financial sickness and malaise that is oozing out of the festering sores of a diseased economy.
Any rise in wages is not keeping up with the increases that the consumer must address to just keep their house and pay their monthly credit card payment, let alone maintain their previous standard of living.
The truth is that the real inflation number is 16.5% according to John Williams at ShadowStats. The truth is that the real unemployment rate is over 24% as per Mr. Williams. He shared this info recently in an interview by Greg Hunter. These are the real reasons that consumer spending is beating expectations. These are the real reasons that U.S. Consumer Credit is soaring and people are increasing the use of credit cards to buy groceries.
The real reasons behind why the consumer is increasing their spending is the cracking foundation of our economy due to the inflationary money printing schemes of central bankers. The expression of how out of control the money printing has been is the need of the Fed to try to reign it in through the dampening effect of an ever increasing Fed Funds rate. An ever increasing Fed Funds rate crushes the liquidity of the consumer while the central bank is free to keep printing almost worthless money to stoke the fire to keep the economy going. The problem is that when the fire (inflation) burns hot enough it will not only heat things up but actually consume everything it touches.
The consumer, their savings, their liquidity and their way of life is in the process of being destroyed in a consuming immolation of Hyper-Keynesian economic idol worship.
The decisions that you make now are the only things that, at this point, might help you. The areas of food, water (and a way to filter it and collect it), shelter (you do have a country cousin, don’t you?), energy and protection is what, if it were me (this is not advice), one might consider concentrating on while you still can.
If you have savings, precious metals have out-survived every fiat currency in history and are real money. This is not financial advice. Consider investigating physical PM’s.
As you continue spending what you have and what you can still borrow (I am not advocating this), please remember the small cadre of men and women with the ink on their hands from running the printing presses overtime who willingly did this to their own people.
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Why is this important? Because all of the BRICS countries are going to have a commodity backed world reserve…soon. Plan accordingly-this is not financial advice-consult your financial advisor.
https://www.zerohedge.com/commodities/gold-market-roiled-mystery-buyer-waves-300-tonnes
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-svxpi-1305f92
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
From the article…’“Hey—sorry you lost your job b/c of the vax that doesn’t work and your grandmother died alone and you couldn’t have a funeral and your brother’s business was needlessly destroyed and your kids have weird heart problems—but let’s just admit we were all wrong and call a truce, eh?’…
https://seemorerocks.is/the-atlantic-suggests-amnesty-for-pandemic-authoritarians/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-bw2b8-1302cab
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-hcar5-13015f7
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-ihbyb-130040f
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Take this with a grain of salt..lots of good info though..this is not advice of any kind; for informational purposes only.
https://www.healthyplace.com/adhd/articles/siblings-of-children-with-special-needs
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Are these same pastors members of ‘the Clergy Response Team’?
https://www.theburningplatform.com/2022/10/31/unholy-alliance-faith-leaders-pushing-pharma-fraud/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-aws6a-12fc8a7
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
The iceberg that sunk the Titanic. Photo credit: https://www.mirror.co.uk/news/world-news/photo-iceberg-sunk-titanic-shows-21863281
By Stan Szymanski
25 days ago I wrote an article entitled ‘Banking Rhetoric During A Financial Collapse-The Song Remains the Same’. It was about the jawboning of the CEO of Credit Suisse who was trying to use ‘moral suasion’ to avoid a run on the banks’ assets. Just as the Captain of the Titanic believed the ship was unsinkable Credit Suisse CEO Ulrich Koerner opined:
…’I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank’…
Today, Credit Suisse has hit an iceberg.
As reported by Zero Hedge:
…’On Thursday, Credit Suisse said one or more of its units (emphasis added) breached liquidity requirements this month when depositors pulled their money amid speculation about the lender’s turnaround plan.’…
ZH also expressed the opinion that …’if all it takes for your liquidity to fall below legal regulatory requirements are a few tweets, then you probably shouldn't exist in the first place’…
Quite right. And if one cares to take a look at the CS chart for its performance over the last 5 years, IMHO, it looks like a bankruptcy. Note the high volume and rapidly declining share price in 2022.
Chart credit: Yahoo Finance 8:02am 10/28/22
The rotten rhetoric of Credit Suisse was disinfected when the truth about the company became well known to the public through social media. The common folk then sanitized the narrative by voting with their feet by taking their money out of the bank.
This is not happening to a third world bank. This is happening to a ‘too big to fail’ financial institution.
According the the United States Gold Bureau:
…’Recently, the Swiss National Bank took $6.27B from the U.S. Federal Reserve swap line. The previous week, the Swiss National Bank took $3.1B. Both draws were more extensive than any draws made during the Covid pandemic.’…
They go on to state:
…’The Fed states, “swap lines are designed to improve liquidity conditions in dollar funding markets in the United States and abroad by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions during times of market stress…The swap lines support financial stability and serve as a prudent liquidity backstop.” The Swiss National Bank taking two substantial swap line positions two weeks in a row is a big red flag something is drastically wrong.’…
I think that we need to ask the question: Just how many dollars can the Fed provide as this problem spirals out of control-not just in Switzerland, but around the whole world?
Just two weeks ago I wrote Japanese 10 year Bonds Trade 1st Time in 5 Days-JGB 2 Year NOT Trading-Where There Is No Bid There Is No Market. When has the benchmark bond of a first world country -not- traded for four days? In the case of Japan not since the 10 year JGB became its benchmark in 1999. To reiterate: Where there is no bid (no buyers), there is no market.
Where there is no market, there -is- illiquidity. That means that there is no way to determine the price of an asset. Where there is no price discovery, what is an asset worth? Is it actually worth anything at all?
Before you comfort yourself in believing the hype of the western financial press about the touts of the ‘strong dollar’, the Treasury Secretary of the United States of America has something to tell you.
From Chief Investment Officer:
…’Reduced liquidity for bonds is getting to be a problem, according to Treasury Secretary Janet Yellen.
At a speech before the Securities Industry and Financial Markets Association annual meeting Tuesday, she reiterated an earlier observation that diminished ability to sell bonds is worrisome.’…
The United States of America is having trouble selling the bonds of the country who supposedly issues the world reserve currency! Why is this the case? Could it be that the Fed has finally printed so much money that it is now blatantly obvious the the ‘king has no clothes’? Could it be that sovereign countries and investors alike are, like the account holders at Credit Suisse, voting with their feet and jumping out of their US bond holdings like passengers jumping into a lifeboat (or even the icy waters) off of the Titanic?
What does this mean for world markets and you?
Credit Suisse may be the first public humiliation of the TBTF banks, but CS will surely not be the last. And indeed we are soon to see on the horizon the first sovereign western governments who have for so long depended on the ‘stability’ of the US dollar begin to capsize. The economies of Britain and Switzerland have been roiled by similar events in October.
Who is next to be tossed about on this sea of illiquidity? Will you vote with your feet before it is too late into the lifeboats of precious metals, commodities, food, energy and somewhere to lay your head that the bank cannot take away?
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
His political affiliation does not matter. This post is about the jab…
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ei/pb-yi3mj-12f9da0
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
All Rights Reserved.
Encouraging Angels is a tax-exempt 501(c)(3) organization that promotes Disability and Speical Needs awareness as well as delivering music services to those affected.
Powered by Squarespace
