My two fears:
- Egypt would once again depend on hot money, which is staring to flow in
- Egypt regime to keep on banking on the “too big to fail” notion. “When they see it sinking, someone will come and save it”
Nothing happened till now that contradict the above
For the past months, producers and sellers of goods in Egypt got their dollars from the parallel market. However, many other goods, especially basic necessities such as fuel, were priced based on the official rate.
Expect another rise in inflation.
#Egypt
UAE $ injection is a kiss of life to a dying Cinderella. But Cinderella will still die if reforms are not done, chief among them:
- end the two foreign currency exchange rates
- curb inflation, curb vanity spendings
- decrease the military’s economic footprint
Israel today bombed an Egyptian checkpoint inside the EGYPTIAN territory of SINAI. They claim they did it by “mistake” . Of course. The most advanced American-backed army in the region can’t aim. Do you need a little picture of fly to aim at like those ones you have in public urinals so not to splash yourself hun? A MISTAKE! Huh? WINK WINK! Yes. Like bombing a church, a school or a reporter, dare I say a FUCKING hospital? Oh wait, that was intentional. I know you are a young country. I am almost 50 years old and some of my pubic hair is older than most of your settlements. So why don’t you grow the fuck up! The world sees you. Look at those pictures. WE HAVE SEEN THIS MOVIE BEFORE. Oh wait. I am talking to the wrong people. Let me talk to your parent. Hey: Mr. Fucking President of the United States of America. @JoeBiden . Your spoiled brat is making a mess while pointing to the other kids in the class. Control your fucking entitled lying little child from hell. Oh and please #ceasefireInGazaNOW
Credit Suisse, $CS, Fines by Year:
- 2022: $700 million
- 2021: $280 million
- 2018: $90 million
- 2017: $5.4 billion
- 2016: $240 million
- 2014: $3.7 billion
- 2012: $120 million
- 2009: $536 million
- 2008: $15 million
- 2003: $275 million
- 2002: $350 million
Credit Suisse has been fined over 50 times for a total of $11.4 billion since 2000, an average of $570 million/year.
That's almost four times the $3.25 billion that UBS just paid to acquire them.
They dug their own grave.
BREAKING: First Republic Bank, $FRC, stock now down 46% and has been halted 4 times over the last 30 minutes.
The stock is now halted at $12.41 after trading at $130.00 just one month ago.
Over $20 billion in market cap has been erased this month.
One of the largest banks in the world became a penny stock this weekend.
The 14th largest bank in the U.S. collapsed in 48 hours one week ago.
Levels of uncertainty in this market are at their highest in years.
As traders, volatility and uncertainty are gifts.
Big week ahead.
If the Fed does not contain the regional bank collapse, there will be another great depression.
Small/medium banks account for 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending
The Swiss Central Bank just announced Credit Suisse, $CS, will borrow up to $54 billion USD.
Nothing like adding up to another $54 billion in debt to a sinking ship.
Once again, the near collapse of Credit Suisse has been “avoided.”
Don’t be surprised if this happens again.