On Wire

Breaking news, updates, and reports on current events.

Making Common, Golden Sense of the Next Senseless Bank Crisis

by

By Matthew Piepenburg The latest headlines, of course, are all pointing toward the ripple effect of Silicon Valley Bank (SVB), and they should be. This banking metaphor for the tech sector in particular and the previously described disaster in California as a whole or the matter of banking risk as a theme, require understanding and attention, provided below. … Read more

Federal Deposit Insurance Corporation (FDIC) Alert! Special filing with Federal Register: FDIC submits notice for CLOSED DOOR meeting that already occurred as the public interest did not require consideration of the matters in a meeting open to public observation.

by

by Dismal-Jellyfish Source: https://public-inspection.federalregister.gov/2023-05351.pdf Reminder, changes in the Calculation of the National Securities Clearing Corporation’s Excess Capital Premium Charge take effect TODAY. The Excess Capital Premium (ECP) charge is a component of the Clearing Fund that is designed to mitigate the heightened default risk a member could pose to NSCC if it operates with lower capital … Read more

This Bailout means Inflation is here to STAY

by

by oompaloompa224 The recent Fed announcement has inflationary implications that will cause an even bigger inflationary banking crisis. Banking institutions will now gain the ability to borrow from the Fed at the face value of their bond holdings. So if Bank A made the dumb decision to buy treasuries when yields were 2%, and now … Read more

NSCC Alert! Reminder, changes in the Calculation of the National Securities Clearing Corporation’s Excess Capital Premium Charge take effect TODAY.

by

by Dismal-Jellyfish Source: https://www.dtcc.com/-/media/Files/pdf/2023/2/24/a9264.pdf Subject: Implementation Date of Changes in the Calculation of the National Securities Clearing Corporation’s Excess Capital Premium Charge On the morning of the effective date, the ECP charge will be calculated using the proposed changes, which compares a Member’s applicable capital amounts to its Volatility Charge, clarifies the capital amounts used for … Read more

N Korea Successfully Launches 2 Strategic Cruise Missiles from Submarine

by

North Korea Launches Missiles From Submarine, South Korea Says South Korea’s Joint Chiefs of Staff (JCS) disclosed that the missile was fired from the eastern coastal city of Sinpo on Sunday morning, but did not provide additional information at the time. https://breaking911.com/breaking-north-korea-launches-missiles-from-submarine-south-korea-says/ After North Korea fired two strategic cruise missiles from a submarine, the mayor … Read more

Paris on fire

by

Among the demonstrators are representatives of leading trade unions, workers in transport, energy, industry and other sectors, medical workers, teachers, youth and student organizations, supporters of the yellow vests movement, as well as radical black bloc youth. — 🅰pocalypsis 🅰pocalypseos 🇷🇺 🇨🇳 🅉 (@apocalypseos) March 13, 2023

Pope Francis calls Catholic Church’s ban on priests having sex ‘temporary’ opening door to review of 1,000-year-old celibacy rules

by

Pope Francis, 86, hinted that priests may not have to be celibate in the future It comes after growing calls to drop rule that was introduced in the 11th century The Catholic Church is open to reviewing its thousand-year-old practice of celibacy, Pope Francis has suggested. He said the ban was only ‘temporary’ and there … Read more

The Biden economy looks great!

by

Jeffrey Gundlach: Imminent recession UST yield curve now aggressively steepening after sustained inversion is highly suggestive of imminent recession. — Jeffrey Gundlach (@TruthGundlach) March 13, 2023 The Banking System is Safe and Effective.  

The “panic” around SVB is manufactured to get a bailout consensus. Don’t fall for the BS. Here’s what’s really going on.

by

There’s something very ugly happening right now: VCs & startup execs who stand to lose their deposits at SVB are going *out of their way* to push a narrative that there’ll be a bank run on Monday if SVB depositors aren’t bailed out by the government. They’re yelling fire in the… — Vivek Ramaswamy (@VivekGRamaswamy) … Read more

Dave Lauer on Twitter: Fed’s gonna cut rates now, everything has changed…. Hyperinflation, here we come!

by

by sped_izzo Federal Reserve Board announces it will make available additional funding to eligible depository institutions Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system With the fed now trying to prevent a “systematic failure” of the banks, they will be printing out even more money to … Read more

Trillions of dollars are about to flow from the Fed into the stock market. QE has returned, stronger than ever.

by

by quiethandle EDIT: The Fed will charge the 1 year overnight index swap rate plus 10 basis points for these loans. Sounds like right now that works out to roughly 5%, so this might be a high enough interest rate to deter banks from flooding the Fed with these long-term treasuries and effectively causing massive QE. … Read more