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Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90%
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90% Cash is now king in Lebanon, where a three-year economic meltdown has led the country’s once-lauded financial sector to atrophy and turned the country into a Venezuelan-esque hyperinflationary hell. The country has been hit hard by events over the past few years, starting with COVID. In […]
Credit Suisse Craters To Record Low After Revealing Staggering $88 Billion Bank Run
Credit Suisse Craters To Record Low After Revealing Staggering $88 Billion Bank Run One month ago, weeks before the crypto sector was shaken by the crushing FTX bankrun which led to a quick and painful bankruptcy, and revealed that one of the world’s biggest crypto exchanges and its “JPMorgan-esque” owner were nothing but hollow shells […]
Germany Preparing For Emergency Cash Deliveries, Bank Runs And “Aggressive Discontent” Ahead Of Winter Power Cuts
Germany Preparing For Emergency Cash Deliveries, Bank Runs And “Aggressive Discontent” Ahead Of Winter Power Cuts While Europe has been keeping a generally optimistic facade ahead of the coming cold winter, signaling that it has more than enough gas in storage to make up for loss of Russian supply even in a “coldest-case” scenario, behind […]
“They Want Their Monies Out” – Baltimore Residents ‘Storm Bank’ Amid Fears Of Social Unrest
“They Want Their Monies Out” – Baltimore Residents ‘Storm Bank’ Amid Fears Of Social Unrest The evolution of panic hoarding started with 3M N95 masks, then hand sanitizers, non-perishable foods, guns and ammo, and now cash? A video surfaced on Instagram on Saturday, showing a possible bank run in Baltimore City at the MECU Credit Union, located […]
A toilet paper run is like a bank run. The economic fixes are about the same
A toilet paper run is like a bank run. The economic fixes are about the same Panic buying knows no borders. Shoppers in Australia, Japan, Hong Kong and the United States have caught toilet paper fever on the back of the COVID-19 coronavirus. Shop shelves are being emptied as quickly as they can be stocked. This panic buying is the result of […]
China Braces For December D-Day: The “Unprecedented” Default Of A Massive State-Owned Enterprise
China Braces For December D-Day: The “Unprecedented” Default Of A Massive State-Owned Enterprise Something is seriously starting to break in China’s financial system. Three days after we described the self-destructive doom loop that is tearing apart China’s smaller banks, where a second bank run took place in just two weeks – an unprecedented event for a country where until […]
“Panic Mode” Run On Lebanon’s Banks Feared After 7-Day Closure Amid Protests
“Panic Mode” Run On Lebanon’s Banks Feared After 7-Day Closure Amid Protests Banks across Lebanon have been shuttered now for a seventh consecutive day, with the country’s banking association saying banks would remain closed Friday over “safety concerns” as massive anti-corruption protests have brought multiple cities to a standstill, which began a week ago. Reuters reports that banking operations have been “limited to […]
Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day
Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day There is a reason James Simons’ RenTec is the world’s best performing hedge fund – it spots trends (even if they are glaringly obvious) well ahead of almost everyone else, and certainly long before the consensus. That’s what happened with Deutsche Bank, when as […]
Bank Run Feared After ECB Unexpectedly Pulls Plug On Latvia Largest Private Bank
Bank Run Feared After ECB Unexpectedly Pulls Plug On Latvia Largest Private Bank Last week we reported that as part of a rapidly deteriorating banking crisis in Latvia, which culminated with the detention of central bank head Ilmars Rimsevics on suspicion of accepting a bribe of more than €100,000 (which prompted both the prime minister […]
EU Preparing for the Banking Crisis
EU Preparing for the Banking Crisis Subtly, the EU is looking to establish preparations for the coming banking crisis and how to protect the banks from massive withdrawals. The solution? The EU wants to be able to temporarily free up credits for the banks and at the same time to freeze bank deposits, In other words, like […]
Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From Bank
Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From Bank As tension escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Spain where it really hurts. In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches […]
It’s Your Money But You Can’t Have It: EU Proposes Account Freezes to Halt Bank Runs
It’s Your Money But You Can’t Have It: EU Proposes Account Freezes to Halt Bank Runs If there is a run on the bank, any bank in the EU, you better be among the first to get your money out. Although it’s your money, the EU wants to Freeze Accounts to Prevent Runs at Failing Banks. […]
“Canada Hasn’t Seen A Bank Run Such As This In Decades” – Finance Minister Says Home Capital Bailout Is Possible
“Canada Hasn’t Seen A Bank Run Such As This In Decades” – Finance Minister Says Home Capital Bailout Is Possible When we first said three weeks ago that the spectacular, sudden implosion of Canada’s largest alt-lender Home Capital Group or HCG – whose fate we had followed closely since 2015 – was Canada’s own “New […]
