credit to Clear Value Tax on the tubes..
So USB just swallowed Credit Suess
Assets used to be $80 BILLION Dollars..
Getting bought out with UBS $2 BILLION..
Also apparently government backed. Y'know we used to think of Switzerland to be good with the money and the hiding WWII gold that wasn't theirs.. etc..
So Swiss National Bank is given a nice $100 Billion liquidity line for smoothness of the $2 Billion buy out. Oh and shareholders got no say!
MASSIVE Banking System BAILOUT Under Way.
So they raising RATES?! It's going to be a big week in the clown show retard loaning game!
What is going to benefit is more safety assets such as gold and silver and maybe bitcoin..
Yah yah there's other assets to retain value! I don't know all of them.. Some stonks might to well although they even have counter party risks..
First Republic has a run, Suisse has a run..
Everyone is running!
So UBS and the big sharks are gonna have dinner for penny's on the dollar. Who would have thought consolidation and the system that back stops it from the people's 'money'. Look it's gangster to the highest fleecing degree. Too bad they cannot regulate confidence in the future to come. It's the hubris of such large systems to eventually decay. It could take hundreds of years and create dark ages, or it could take months..