BREAKING: Implied open for the Dow Jones Industrial Average shows a near 400 point drop as Iran launches retaliatory attack.
#Bitcoin is also down over 10% in less than an hour after the news broke.
All other markets are closed for the weekend.
IT IS THEREFORE ORDERED, ... that the Proposals (SR-NYSEARCA-2021-90; SR-NYSEARCA-2023-44; SR-NYSEARCA2023-58; SR-NASDAQ-2023-016; SR-NASDAQ-2023-019; SR-CboeBZX-2023-028; SRCboeBZX-2023-038; SR-CboeBZX-2023-040; SR-CboeBZX-2023-042; SR-CboeBZX-2023- 044; SR-CboeBZX-2023-072) be, and hereby are, approved on an accelerated basis. By the Commission.
https://t.co/Z9q8NIsyp5
Interest Rates on Deposits, by Bank:
1. Wells Fargo: 0.15%
2. Citibank: 0.05%
3. Chase: 0.01%
4. Bank of America: 0.01%
5. US Bank: 0.01%
Rates on Alternatives to Bank Deposits:
1. CDs: 5.0%
2. Money Market: 4.5%
3. Treasury Bonds: 4.0%
Deposits continue to flow out of banks at a historic pace with $1 trillion+ withdrawn over the last year.
The era of "free" money for large US banks is coming to an end.
They must raise interest paid on deposits or capital will continue to leave.
The FIAT guys at @jpmorgan say El Salvador is finally “getting some credit”.
They are just catching up.
It will soon be: “Salvadoran bonds are now Investment Grade”.
You’ll see 😉
OrBit Markets, an institutional liquidity provider of crypto options, is rolling out the first bitcoin and gold hybrid-focused derivative product with execution broker PI Digital.
@_jocelynyang_ reports
https://t.co/wkjExoWwiK
Over 5 years ago, the CEO of @CreditSuisse called #Bitcoin a bubble.
Since then, BTC is up 318% and Credit Suisse just sold for ~ 1/5 the size of Dogecoin.
Timeline of Credit Suisse, $CS, Collapse:
- 2009: Fined $536 million for bypassing US sanctions
- 2014: Fined $2.6 billion for evading US taxes
- 2021: Lost $5.5 billion due to risky exposure to Archegos fund failure
- 2021: Froze $10 billon in funds due to Greensill collapse
- 2022: Pleads guilty to defrauding investors over $850 million loan, fined $475 million
- 2023: Delays annual report to address accounting concerns from the SEC
- 2023: Saudi National Bank said they won't provide further financial support
- 2023: US Treasury and ECB announce they are monitoring CS situation
Now, Credit Suisse is asking the Swiss Central Bank for support.
Their Credit Default Swap premiums are trading above 2008 levels.
At this point, they have dug their own grave.