Posted on 03/29/2021 4:30:58 AM PDT by RomanSoldier19
U.S. stock index futures dropped on Monday after Wall Street’s surge in the prior session as major lenders came under pressure on concerns over possible spillover effects of a hedge fund’s default on margin calls.
Nomura and Credit Suisse warned of significant losses after the U.S. hedge fund, named by sources as Archegos Capital, defaulted, hitting shares in some big U.S. media and Chinese tech companies.
The news has sparked fears that other lenders could be in the process of exiting these positions too.
Shares in Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co, Goldman Sachs, Wells Fargo & Co and Morgan Stanley dropped between 0.8% and 3.3% in premarket trading.
(Excerpt) Read more at reuters.com ...
The country is bankrupt. The dollar will be worth more a packing medium than as cash. Have we reached the $50.00 Baby Ruth stage yet. When it goes it going to drag all of the other fiat currencies with it. The Dems are riding a dead horse and they know it. They are going to try to keep it going by larger and larger appropriations. By exporting job and manufacturing you eventually destroy the tax base. The past year has siphoned off most savings. The smart money left a long time ago. This country is now a shell awaiting collapse.
Credit Suisse was among banks to see stocks tumble on Monday (March 29). That on reports that some major lenders face huge losses following a default by a U.S. hedge fund.
I am not saying a prudent balance of hard assets and financial instruments isn't a bad idea. A little TP and ordnance is good for the soul. But bankrupt? With trillions in untapped energy reserves that could pay off the Treasury borrowings and citizens who aren't giving up on capitalism, I'll bet on America.
I hear you but fear you are now in the minority.
Love the optimism, but man, isn’t it kinda obvious that this is held together by an extremely active central bank? I argue that if the price of debt is suppressed, then it isn’t capitalism. Capitalism only works with honest prices, including debt. To your point, it could take a long time to unravel, so I agree don’t get fearful short term at least. I think Rome debased the denari for 300 years before it was totally over. The fall of empire can take a long time.
Goldman got ahead of the curve on Friday. Looks like they had inside information.
Goldman Sold $10.5 Billion of Stocks in Block-Trade Spree
https://freerepublic.com/focus/f-chat/3945889/posts
May be in the minority - but he's correct. People don't understand the basic concept of "money".
Money is backed by Treasuries and other forms of debt.
Debt, at its core, is the promise of somebody's future labor.
Promises of future labor can be made until the cows come home. Promises can be made into the next millennium and beyond.
Gold, silver, and oil are just commodities. They are bought with money and sold with money. They themselves are not money.
I've been teaching this for close to 20 years and the gold bugs still don't understand.
Who would invest in a hedge fund named “Arch Ego” anyways?
Per Webster, Capitalism per Webster is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.
To be sure, the State distorts the snot out of these characteristics. Indeed, the State has distorted the Constitution and many Churches have distorted God. But these distortion do not obliterate the Constitution, God, or Capitalism.
In order to defeat an enemy, you must know him better than he knows himself. I've bet on humanity and freedom for a long time, and while she gets dinged from time to time, liberty always wins.
As nasty as Biden is and how he got there, I suspect we are feeling better in March 2021 than Hillary fans felt in March 2017. I also suspect Bidet fans today aren't feeling as cheery as Trump nation felt four years ago.
Yes, there are problems and it isn't great. But I've seen some awesome free-throws in my lifetime, and I feel one will come upon this nation sooner rather than later.
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