Posted on 10/11/2022 7:10:43 PM PDT by PK1991
"Why does Switzerland suddenly have a financial institution needing $3 billion in cheap (3.33%) overnight funding from the US Fed. This was the first time the Fed sent dollars to the Swiss National Bank this year, and the first time the Fed used the swap line in size (besides a token amount to the ECB every now and then)!" Credit Suisse is bankrupt. They tried to save it until they ran out of USD, now the Fed is trying to save them...luckily the Fed cannot run out of USD... and so it goes.
Would most debt get wiped out if say a Zimbabwe or pre war Germany situation (I don’t know the situations well) happened? If it comes down to a loaf of bread costing $1 million... Can’t I sell a loaf and pay off all my debt? And own my property, be it realestate, auto loans, credit card debt and what not?
I have always thought of this great reset as a way of making say a $50 minimum wage as the new normal.
These overnight swaps are secured by collateral, usually Treasury bonds. The money is almost always paid back in the morning.
Prepositioning money for the Iranian mullahs.
Perhaps a bridge bailout to Credit Suisse for time to sell assets to raise the funds Credit Suisse needs to buy back debt. “Credit Suisse to buy back $3 billion in debt, sell landmark hotel as credit fears persist.” https://www.cnbc.com/2022/10/07/credit-suisse-to-repurchase-3-billion-of-debt-securities.html
Funny it is the exact same amount and why can’t the Swiss central bank give them the loan.
It’s all about keeping the dollar as the reserve currency..... we’ll do anything.
Credit Suisse debt exposure has gone from 3b to 8b. In a few weeks.
And they just got served with a US tax evasion probe.
If it’s a liquidity swap, the Fed sends the other central banks dollars and the Fed receives Euros and Swiss Franc.
Switzerland seems to be quite rich! Three billions is probably piece of cake for them.
Why don’t they bail Credit Suisse out themselves?!?!
Soon all Americans will be Billionaires 🤣🤣🤣🤣
I suspect that now that CS is cooperating with the US feds as far as reporting depositors, the customers are pulling their money out.
yeah they want to do this. its not about the swiss. its about the cascading effects of default.
sad to say. its a house of cards
“Fed” what FED? Whose Fed?
This is that pedophile at work.
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