Author: admin

Hiring JPMorgan Chase to ensure “payment integrity” is like the U.S. Treasury hiring Allen Weisselberg as its accountant. Since 2014, JPMorgan Chase has admitted to five separate criminal felony charges brought by the U.S. Department of Justice. The first two of those felony charges related to the bank ignoring brazen red flags as Ponzi kingpin, Bernie Madoff, laundered billions of dollars through the bank for years.”

Unfortunately for Big Brother, ooops, I mean unfortunately for our 100 percent reliable, never-lies-to-us government, we have actual documents (including lawsuits), news stories, social media posts, and videos of the government at all levels mandating and forcing us to do all of those things, and more. Here’s just one example of Biden himself, the “Big Guy,” mandating the C19 shot:”

It also surpassed the 39% average loss in seven US equity bear markets since 1970, including last year’s 25% slump in the S&P 500 when the Fed started to lift rates from near zero.”

The quote is often attributed to Cicero, a Roman statesman who as Consul of the Roman Republic tried—and failed—to head off the coming of Julius Caesar and the Roman Empire. But did he really say this?

Oh well, Cicero fought against the rise of the Empire and lost.”

Why would a trading house fail to report a derivative trade? It could be that it had exceeded its speculative trading limits or that its counterparty on the trade was a risky counterparty that a federally-insured bank shouldn’t be doing business with or with whom it already had too many risky derivative trades. It could also be that one large trading house was attempting to manipulate the market to benefit one of its other trading positions.”

Losses currently stand at 3.63% (up ~150bps from the bottom) and based on Goldman’s analysis, the losses will rise at least another ~130ps from current levels (to ~4.93%), implying we are roughly halfway through the credit loss increase cycle. He also thinks delinquencies could continue to underperform seasonality through the middle of next year and don’t see losses peaking until late 2024 / early 2025 for most issuers. Relative to expectations, Goldman sees losses rising the most at COF, followed by DFS, which is hardly surprising following the credit card company’s own charge-off rate forecast .”

“The question is how to book, fund and settle any required foreign exchange trades within the required one-day time-frame when most FX markets settle on T+2 today,” a Citigroup Inc. team led by Okan Pekin wrote in a recent report. “Time zones matter in the move towards accelerated settlements and foreign investors are always the hardest hit.”

But “Higher for Longer” is a big problem. It’s a problem for our federal government’s massive debt load, with ballooning debt service costs at the cusp of spiraling out of control. It’s a problem for risky corporate borrowers with a Trillion of debt to refinance over the next two years. It’s a problem for a banking system sitting on enormous underwater “held to maturity” bond portfolios, along with an equities market dominated by over-valued growth stocks. It’s a problem for millions of households who have loaded up on debt. It is a big problem for an over-indebted world.”

In a recent interview, Peter Schiff, who was laughed at when he predicted the economic meltdown of 2007–9, said interest on the federal debt alone “will be about a trillion by the end of this year. By the end of next year [it will reach] two trillion dollars—and that’s if interest rates don’t go up. . . . This is a huge debt bomb that’s going to explode.”