Financial topics

[aeden]

Overlay chart of the thinking.
https://www.zerohedge.com/personal-fina ... ening-next

Meanwhile the bag people of narcotic runners are worshipped in the streets.

https://gdxforum.com/forum/search.php?k ... sf=msgonly
thread: adapt, amos

[John]

** 14-Mar-2021 World View: Lex Greensill

Higgie -- I've never heard of Lex Greensill, but this item was in a
wsj newsletter that I get, and it sounds like the sort of thing that
you quote all the time:

Behind Greensill’s collapse: a detour into risky loans.

Lex Greensill portrayed himself as a savior for small business. He
started Greensill Capital to give the little guy a banking service
mostly reserved for blue-chip companies: supply-chain finance, a type
of cash advance that helps when payments are due from customers. His
world came crashing down this past week when Greensill filed for
bankruptcy, ensnaring a global network of borrowers—more than half of
them in the U.S. -- as well as the firm’s financial backers, SoftBank,
Credit Suisse and Japanese insurer Tokio Marine Holdings. Behind
Greensill’s failure: The business went beyond the scope of what it
initially set out to do. Many of Greensill’s loans went to a small
circle of borrowers close to the company's founder, as well as
acquaintances and his biggest outside backers. A Wall Street Journal
review of internal records, along with interviews with more than a
dozen people familiar with Greensill’s business, reveals how the
company obscured its riskier loans behind a safe but barely profitable
supply-chain finance business.

[Higgenbotham]

** 14-Mar-2021 World View: Lex Greensill

Higgie -- I've never heard of Lex Greensill, but this item was in a
wsj newsletter that I get, and it sounds like the sort of thing that
you quote all the time:

Behind Greensill’s collapse: a detour into risky loans.

Lex Greensill portrayed himself as a savior for small business. He
started Greensill Capital to give the little guy a banking service
mostly reserved for blue-chip companies: supply-chain finance, a type
of cash advance that helps when payments are due from customers. His
world came crashing down this past week when Greensill filed for
bankruptcy, ensnaring a global network of borrowers—more than half of
them in the U.S. -- as well as the firm’s financial backers, SoftBank,
Credit Suisse and Japanese insurer Tokio Marine Holdings. Behind
Greensill’s failure: The business went beyond the scope of what it
initially set out to do. Many of Greensill’s loans went to a small
circle of borrowers close to the company's founder, as well as
acquaintances and his biggest outside backers. A Wall Street Journal
review of internal records, along with interviews with more than a
dozen people familiar with Greensill’s business, reveals how the
company obscured its riskier loans behind a safe but barely profitable
supply-chain finance business.

I hadn't heard of him either until aeden pointed to his web site last week. When the mortgage backed securities came crashing down in 2008, the canary in the coal mine was a few billion of mortgage backed securities in a Bear Stearns hedge fund that went under the week of July 16, 2007. Virtually nobody recognized that for what it was. The market ignored it for a day or two, then collapsed. I've been posting for a couple days that the problem debt is most likely the corporate debt. I'm not sure if Greensill is the canary in the coal mine for corporate debt or not.

Somebody thinks so:

Local fundies dodge Greensill insolvency

Greensill Capital’s move to the brink of insolvency coincides with investors in global markets rethinking the merits of high-growth stocks with fantastic valuation multiples.

Mar 5, 2021

Lex Greensill’s failure to convince Australian fund managers to pour up to $1 billion into Greensill Capital in late 2020 is looking increasingly like the nail in the coffin of his supply chain financing business.

With the benefit of hindsight, this failed attempt at strengthening the Greensill Capital balance sheet was arguably a “canary in the coal mine” moment for global markets.

It was an early indication that fund managers were no longer willing to believe the extraordinary growth stories like those pitched by Greensill, which lifted its revenue by 176 per cent in 2019 and financed $143 billion in 2020.

https://www.afr.com/chanticleer/local-f ... 304-p577vx

[aeden]

The swiss set one billion to clean it up. And the Japanese compliance teams are on it.
Been weeks now.

[tim]

These comments from Tim about nuclear war have something in common with my comment about deficits. These matters were considered by the Hero Generation to be important, but today, with the Hero Generation gone, they are not considered to be valid or important.

Someone who understands the cycle can use it to great advantage. Not just in preparation for the Fourth Turning and total war, but also for understanding human nature during the other turnings.

A survivor of the hero generation after the Fourth Turning will someday be confused and shocked at the next Unraveling, where the old institutions decay and the younger generation challenges the status quo.

Around 2045 a new generation that hasn't experienced financial collapse and total war for themselves will have more in common with the baby boomers in the 1960's.

This might be part of the wisdom of how you should do the opposite of what everyone else is doing.

“Watch what everyone else does – do the opposite. The majority is always wrong.”
— Earl Nightingale

[aeden]

Imagine a world where you can be your own bank.
Greensill Capital’s ai identified nothing.
Deception is the currency of the realm and all it will ever be.
As we noted after 1968 it was baked in.

Even before.
https://www.sec.gov/files/dlt-framework.pdf

Once elites have destroyed the common people and have removed all their wealth, the elites are the target.

[aeden]

Bitcoin currently has about a .20 correlation with the S&P 500
They are using the utility of paypal but are paying to much in screw you fees.

https://seekingalpha.com/article/441390 ... king_alpha

It was said - As a Dividend Seeker, Bitcoin was never really on my radar. However, as equities sit at historical highs, bonds face an unprecedented amount of interest rate risk, and gold fails to break through resistance levels so far in 2021, I branched out into Bitcoin for a few reasons.

This was already known here in advance. But planet stupid seez rabbits are more fun to beat over the head.
As the Priest said the snow was not from the heavens.
It was from the heavens of the dead.
Today molek is served by the sicknes of democrats and rhinos. Pox on them.

thread 3:97, amos

[Cool Breeze]

Imagine a world where you can be your own bank.

That's what BTC is. I wonder why this takes so long for some of you. Free your mind.

[vincecate]

Imagine a world where you can be your own bank.

That's what BTC is. I wonder why this takes so long for some of you. Free your mind.

In terms of "new customers per day" I think I have passed the smaller bank in Anguilla.
In terms of "number of ATMs in Anguilla" I also am already matching the smaller bank in Anguilla.
I am growing much faster (seem to be on an exponential growth curve) than either bank here.
Sometime in the next 5 years I expect to be "bigger" than than the smaller bank by several other metrics.
One bank left Anguilla. When it did I tried to buy their building and then to rent it (failed at both but...).

http://bitcoin.ai/TwoATMs.jpg

[aeden]

That was quote from a seeking alpha article provided.
You really need to understand we have read on this since the 1937 papers at mises.com also.
Relax we have been watching since 1974 to events.
I have been my own bank for way over a decade anyways.
Why do you think they elicited events so plasma blood lines snaked around buildings.

True believers are fun at party's.
https://gdxforum.com/forum/viewtopic.php?p=59380#p59380

This covered the 1983 thesis for the 1993 operation 936 for the CCI books. The consumer will be annihilated now the other way from the financial repression to the financial recession. As Volcker succinctly put it, “The standard of living of the average American worker has to decline.” Paul Volcker stated in 1982. When I saw a line snaking around eight city blocks in Columbus, Ohio for people who wanted to sell their blood at the Alpha Plasma Center. Nothing says end of the world like people waiting in line for hours to sell their life's blood for twenty bucks. I was building days in motels chains when construction was crushed.
The other job they bused them from Mexico. A friend of mine later was dating the Lawyer from Chicago who represented the client as we got adulterated from the top to bottom.
In 1983, Kennedy was weighing another presidential bid in hopes of becoming his party’s nominee and defeating Reagan in 1984.
Reagan biographer Paul Kengor told The Daily Signal that top Kennedy aide John Tunney traveled to Moscow on May 9, 1983, to meet with KGB agents to inform them of a proposal by the senator that could weaken Reagan.
Locally, there’s a current shortfall of $18,176 between the standard of living and real disposable incomes.

https://gdxforum.com/forum/viewtopic.ph ... ker#p23171 Start here and deconstruct my errant logic.

https://www.youtube.com/watch?v=cdnVAi64l4E