Are the Banks in TROUBLE!! or just damn GREEDY!?

[Oldun]

This is gold !

 

[Martlet]

7 minutes ago, Oldun said:

This is gold !

 

He does make a good pragmatic case for letting stuff fail. 

[Roy]

Fantastic! 

I bet his Christmas Card collection will be smaller this year 😁

[Kookaburracollector]

If the airlines hadn’t spent 97% of their free cash flow over the last 10 years buying back stock (which used to be illegal), they could easily weather this unfortunate storm without a bailout.

If they were allowed to fail, a new owner would buy them on the cheep (with no debt) and be potentially able to offer cheeper flights to customers as a result of it. Basically, it would be a transfer of ownership... no jobs would be lost in the long term.

What we are witnessing at the moment is Socialism for Wall Street (Big companies get bailed out) - Capitalism for Main Street (small companies and mom and pop shops get wiped out)..hardly fair!

(Hadn’t seen post on April 2nd until I posted the above @Oldun)

[Oldun]

 Saving the US oil companies from their bank loans by taking the companies over(as done in the 80s) but then....nothing new here of course but an interesting development in the US oil industry. Even though an oil deal has been done today regarding Russia/Arabia cutting production, there will still be no uptick in usage due to the lockdowns etc.

https://www.reuters.com/article/us-usa-banks-energy-assets-exclusive/exclusive-us-banks-prepare-to-seize-energy-assets-as-shale-boom-goes-bust-idUSKCN21R3JI

 

[BazzaC]

21 minutes ago, Oldun said:

 Even though an oil deal has been done today regarding Russia/Arabia cutting production, there will still be no uptick in usage due to the lockdowns etc.

 

I'm not sure if they will even stick to the agreement, and cut production by the numbers stated, especially Russia.   For sure, as you have stated @Olduneven if they did, there would still be an oversupply to the market already flooded with oil, and a severely reduced demand.

[Oldun]

https://oilprice.com/Geopolitics/International/Has-Russia-Reached-Its-Limit-In-The-Oil-Price-War.html

@BazzaC

Beyond my paygrade but some insight from an article a week ago.

[Michal]

Hmm and i heard that Russia can keep on going at price under 20$ ?

[Martlet]

18 minutes ago, Michal said:

Hmm and i heard that Russia can keep on going at price under 20$ ?

They might be able to produce and break even at price that low, the factor to consider is what the state has budgeted for.  A lot oil dependent nations set out a programme of spending assuming tax revenues from higher oil prices, at these prices they'll burn reserves to maintain their policy of expenditure. 

[Michal]

So they say that Russia will have to go in to budget deficit if price is under 40? It looks like they are doomed then, wondering will that reach lvl of 150% of GDP in one year.

[CadmiumGreen]

Doing some PM admin this week and came across the following words of advice from a gentleman I purchased an 1859 Gold Sovereign back in March 2018...Excerpt from Harper’s Weekly, September 27, 1879...

 

 

Enjoy!

[5huggy]

Jeeze @CadmiumGreen  you are some times SO PROPHETIC! 👌

[Serendipity]

@CadmiumGreen, it’s like what’s happening now: “The discovery which shattered [German] society was that the traditional repository of purchasing power had disappeared, and that there was no means left of measuring the worth of anything. For many, life became an obsessional search for... things of ‘real’, constant value...”

[5huggy]

1 minute ago, Serendipity said:

@CadmiumGreen, it’s like what’s happening now: “The discovery which shattered [German] society was that the traditional repository of purchasing power had disappeared, and that there was no means left of measuring the worth of anything. For many, life became an obsessional search for... things of ‘real’, constant value...”

BANG on! Wiemar republic Mk2 😉

[Oldun]

The cynic might say it is to keep the “poor” countries basic food items flowing.....

https://www.imf2020.org/press

https://www.bbc.com/news/business-52292249

[Oldun]

ECB need to find €500 billion...Lagarde, that other German chick in charge, somebody..anybody to run a c**p bank ?

https://www.marketwatch.com/story/where-do-you-find-500-billion-europe-wonders-2020-04-20?siteid=bigcharts&dist=bigcharts

or maybe delve back and copy paste ?

Bonus, French babe

 

[Uksilverstackers]

BIS will give it to them along with everyone else who needs it. €500 billion,, thats just pocket money for them.

The central bank for central banks and owned by them.

Bank for International Settlements

[Oldun]

Naughty

https://actionnetwork.org/petitions/bank-of-england-come-clean-stop-secret-business-bailouts-now/

[Uksilverstackers]

On 01/05/2020 at 01:11, Oldun said:

Naughty

https://actionnetwork.org/petitions/bank-of-england-come-clean-stop-secret-business-bailouts-now/

Bank Of England Criminals

[Oldun]

The real concern in the oil and gas industry is that workers are losing jobs, as they are in so many other sectors. The response here should be to rescue the workers and provide relief to state and local governments straining to meet the many challenges of this pandemic at the same time as their revenues decline sharply. It should not be to rescue reckless, polluting, humanity-endangering and often dishonest companies that were in plenty of trouble of their own making well before this pandemic began.
 

https://www.citizen.org/news/the-federal-reserve-should-not-bail-out-the-failing-fracking-industry/

JP Morgan must have been given unlimited credit by successive governments to do its will, be it manipulation of markets or anything else.

 

[Cointreau]

I did not realise that my bank Barclay's share price had dropped to the hundred mark. I will keep on with drawing down my account. Still a way to go yet.

[Oldun]

Fed Chairman Powell owns a ton of Goldman Sachs (who are regulated and overseen by The Fed) and Blackrock and ishares ETF shares to the tune of over $20,000,000. Talk about conflict of interest ! https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/SMCCF_Terms_BlackRock.pdf

https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/ima-blackrock-fma

https://extapps2.oge.gov/201/Presiden.nsf/PAS+Index/B7B81E8D7ED5CA51852584040027DABB/$FILE/Jerome-H-Powell-2019-278.pdf

[Oldun]