The goodwill of this corporate behemoth is worth $100s of trillions and its corporate logo appears everywhere in its various forms; even on the back of a papal coin and above the crucifixion in the church I attended as a child.
The global corporate consolidation continues
FED, Inc., with the assistance and enforcement of USA LLC, continues its corporate takeovers and consolidation…. No collapse, just consolidation… with our money.
The banking space sees another rescue deal in just a matter of days, with the nation’s biggest banks agreeing to deposit around $30 billion with troubled First Republic Bank (FRC).
The big banks -including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) – will contribute $5 billion of deposits each.
Goldman Sachs (GS) and Morgan Stanley (MS) will provide $2.5 billion each.
PNC Financial (PNC), BNY Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
BlackRock Not Working on Rival Bid for Credit Suisse
Dinesh Nair, March 18
(Bloomberg) — BlackRock denied that it’s working on a possible rival bid for Credit Suisse Group AG, after the Financial Times reported it’s interested in a deal.
“BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so,” according to a spokesman for the U.S. investment giant.
The Financial Times reported the US firm is considering various options and working with other investors on a potential deal. That came after the Swiss firm entered talks on a possible combination with UBS Group AG. The newspaper cited people briefed on the matter it didn’t identify.
The boards at Switzerland’s top two banks expect to meet separately this weekend to weigh the idea of a combination, with talks orchestrated by the Swiss National Bank and regulator Finma, the Financial Times reported on Friday.
©2023 Bloomberg L.P.
Ackman Says Bank of America Will Buy Signature Bank Monday, Predicts Crisis Of Confidence
https://www.benzinga.com/amp/content/31403480
Billionaire investor Bill Ackman said Friday that Bank of America (NYSE: BAC) will buy Signature Bank (NASDAQ: SBNY) on Monday, as bigger systemic banks continue in their efforts to rescue distressed smaller banks.
The CEO of Pershing Square Capital Management has recently campaigned for an unlimited systemwide guarantee on deposits, in contrast to Treasury Secretary Janet Yellen, who reaffirmed the $250,000 insurance cap this week.
Until a full deposit insurance is achieved, the cost of capital for smaller banks will rise, forcing them to merge or be bought by bigger institutions, in Ackman’s view.
“I am hearing that Bank of America is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital is going to rise for smaller banks pushing them to merge or be acquired by the SIBs. I don’t think this is good for America,” Ackman wrote on Twitter.
CJ, for this with allocated funds, do you recommend 100% conservative at this point?
FYI, even the Eastern Orthodox Churches were infiltrated by freemasons and also use the all-seeing eye in pyramid on their Church iconostasis.
I don’t know that you can call Charlemagne a Freemason, since he had Aachen Cathedral made in 786, complete with that Eye (the top left image)! I think rather that the Freemasons usurped this symbol for their own purposes.
Could be. The masons have co-opted other Christian symbols and terms. But the pyramid itself is not Christian.
I’ve had Catholic priests argue that the pyramid and eye are Catholic but co-opted by masons as well. I don’t really buy it, though. It wouldn’t take much for a mason to become an iconographer and inject his filth into Catholic art. There is a case of an Orthodox iconographer doing this very thing:
An icon painter from Russia in the service of the Masons
https://fitzinfo.net/forum/topic/an-icon-painter-from-russia-in-the-service-of-the-masons/
I guess that’s true, too. That eye could well have come in, with the 1766 “renovation.”
The FED knows very well of the ramifications of its actions regarding the balance sheets of the banks. This isn’t something that just popped up unexpectedly.
The Fed and Treasury knew what was happening in real time and was already planning contingency and mitigation actions to respond to the busted balance sheets and unrealized losses. This is why the FED took over and guaranteed all of the banking deposits. This isn’t anything ad hoc as these agencies had already mapped out the plan to sideline the FDIC.
Whether this is legal or not doesn’t matter. Nothing the government does anymore is legal. Nothing the FED does anymore is legal. Nothing the FED and US Treasury did in the wake of the 2008 crisis was legal. Certainly nothing the FED and US Treasury did in the wake of the covid scam was legal. Obviously legalities no longer matter.
With the backing of Fed, Inc., along with the taxation power of USA LLC, the cryptocurrency sphere has been red hot. Despite calls to the contrary, Bitcoin is highly dependent on Fed bailouts, corporate consolidations, and government intervention.
Perhaps Bitcoin is a wonderful asset after all as it has gotten a de facto vote of approval by the All-Seeing Eye Corporation (ticker: ASEC).
Goldmoney never stopped accepting BTC as payment for allocations, bullion or jewelry. Bling for digits.
And we wonder why the people are broke….