Semper Fido!
Author Archives: CederQ
Are we seeing the trigger to a catastrophic reset in the banking system?
Vox Popoli, https://www.voxday.net./
This has been floating around. I saw it on Hal Turner’s site, which isn’t particularly reliable, but the specifics mentioned tend to indicate that this one might be.
Reports have been coming in CLAIMING “a systemically important bank, a major player in Silver Futures, failed to pay its Margin Call by 2:00 AM and was liquidated by the futures Exchange at 2:47 AM eastern US time.”
The reports are CONCEALING the name of the bank, but it is confirmed that overnight, the federal reserve was forced to pump another $34 Billion into the Banking System through its Emergency Overnight Repo facility. This $34 Billion is on top of the $17 Billion which had to be pumped-in two days ago, on Friday morning.
The Bank involved is described as “one of the largest players in the precious metals derivatives market” blew past every risk limit, breached every covenant. and exhausted every line of credit.”
The Bank is further described as having been “massively short silver; we are talking massive positions numbering in the hundreds-of-millions ounces.”
According to the information coming out this morning, when Silver broke through $70 per ounce on Friday, this bank received a “Margin Call” from the Commodities Exchange(s) which “exceeded their liquid capital.” I am further told that “the clearinghouse gave them until Sunday morning to post $2.3 BILLION in additional cash collateral.”
UPDATE 12:48 PM EST —
According to additional information, at 2:47 AM the Bank notified the Exchange that they could NOT meet the $2.3 Billion margin call. At 3:03 AM, the Exchange began forced liquidation of the Contracts. By 4:15 AM, the Banks positions on the Exchange were fully closed. SIXTEEN MINUTES LATER FEDERAL REGULATORS SEIZED THE BANK TO PREVENT A DISORDERLY UNWIND.
The reason Turner suspects the failed bank might be Chase is because he was blocked from his business account there last night.
Tonight, I logged-in to my bank and tried to send a Wire Transfer. I’ve done this a couple times in the past and everything went fine. Tonight, I get a call from their FRAUD Department . . . things went downhill fast…
I’ve sent wire transfers before, and for amounts much higher than tonight. . . . . Like seven times higher than tonight. Never a problem. Tonight, they say I am not me and I’m cut off.
I wonder if the bank that reportedly got SEIZED by federal regulators at around 4:30 this morning because they couldn’t make Margin Calls on Silver Shorts, maybe, might be, JP Morgan CHASE ? ? ? ? ? ? ? (Story HERE) Is it possible they won’t send the wire transfer because they’re broke?
Maybe I am not the only one being cut off from my Business account?
It’s all just rumors at this point, and I have no wish to scaremonger for clicks or anything, but we all know how fragile the system is right now. And it wouldn’t even be remotely surprising if one of the banks that was holding a short position against silver went down about now.
Posted on by VD
Welcome to America..
Know?
Kitty was hungry!
Do not comply or obey! Monkey wrench them!
Gunday Monday, CXXIII
Contributed by Wild, wild West and Don’t mind me.
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Who wants to come?
Didn’t I just post a warning?
Think about that one…
From Eatgrueldog, I guess Bear Claw will be able to attend a mosque soon…
https://eatgrueldog.wordpress.com/
“Prepare for war; wake up the mighty men. Let all the men of war draw near, let them come up.” – Joel 3:9
An Oklahoma state lawmaker is urging his constituents to turn to prayer after city planning officials gave preliminary approval to a massive development in northern Oklahoma that includes a mosque and a retail center.
City officials in Broken Arrow, the largest suburb of Tulsa, voted Dec. 18 to approve rezoning 15 acres of land for a proposed retail center and mosque, following hours of public comment from residents, according to local news outlet KJRH -TV.
The Broken Arrow Planning Commission gave preliminary approval to the construction proposal at the commission’s regular meeting, where more than 60 people signed up to speak over the course of the four-hour meeting — the majority of whom said they opposed the project.
Robert Goransson, chair of the Planning Commission, clarified the vote was strictly on the feasibility of the construction plans and “not the cultural ramifications,” he said.
Explaining his vote in favor, Planning Commission member Jason Coan said he considered property rights when casting his vote. “With a lot of comments that have been made, if it was your religious organization trying to build a temple, how would you feel about having your rights denied?” he said. “You all have the right to do what you want with your land as long as [it] meets the criteria set by [the] city and government.”
But most attendees were concerned about the impact on their community.
“I have a daughter who is 15 years old,” one resident said. “I don’t want this ideology imposed on her.”
2 Samuel 22:35
He trains my hands for battle; my arms can bend a bow of bronze.
I am sure Saul has another take.
Pure asshole…
The scourge of men everywhere.
