Most Western central banks are bankrupt. From Alasdair Macleod at alasdairmacleod.substack.com:
Doomsters continually warn that commercial banking’s balance sheet leverage could threaten the entire global economy. The systemic danger actually lies with central banks.
In this article, I explain why those who warn that the risk of a banking crisis is due to commercial bank behaviour are mistaken. I should point out that during currency collapses, adroit commercial banks do survive — Deutsche Bank survived two currency collapses, the first in the early twenties, and the second in the late 1940s.
It is in government agencies, particularly their central banks where the real risks lie.
On Saturday, Jamie Dimon said something interesting, tweeted by the Financial Times:
I respect Dimon because he is the ultimate banking insider and when he makes statements such as this it would be foolish not to pay attention. Furthermore, he is saying what I have been warning my Substack followers, and before that at Goldmoney, that bond yields would rise when nearly everyone else were looking for interest rates to decline — and they still are.
It became obvious to me where the US bond market was heading when post-covid the long bond broke its 4 decade downtrend in April 2022:
Only now is the importance of this trend dawning on the wider investing public, with the sustainability of government debt becoming a live issue. This is the first part of what Dimon is saying. The second is that JPMorgan has prepared itself for a US Treasury debt crisis, and the problem lies not with his bank, but with bank regulators who he says will panic.
WWIII is eminent because the banksters are insolvent?
Some hedge funders and banksters are now against NO borders.
And they thought the replacements just loved them.
They (banksters) do get a cut of every EBT transaction.
Central Bank=halfway to the Global Soviet and an Islamic bank in Iran is the only one not under their control.
Bomb bomb Iran?