Comments by "David Himmelsbach" (@davidhimmelsbach557) on "Dollar funding crisis reaches...Switzerland. This isn't (just) Credit Suisse, though." video.

  1. It's RED CHINA. Xi's dollar thirst -- for his corporations -- must be at terrifying levels. Interest rates are going the wrong way -- and unlike the UK -- his bankers are unsophisticated -- and UNHEDGED. Since the CCP does not permit GAAP -- and the yuan is breaking down -- yiikes ! I would imagine that Red China is collateralizing its dollar borrowings with GOLD. (It does not want to flood the (physical) gold market -- over night.) Switzerland is getting this action -- because it's Red China's gold conduit. As the world's largest producer, no-one raises an eyebrow -- either way. Red China is getting a slug of gold -- from Putin. He can't unload it in Europe... not in size, anyway. All of this is a loopy way for Putin to swap his gold for Red Chinese goods -- got to keep the Muscovites happy -- and for the Red Chinese to get PROMPT liquidity -- as they are in a dire dollar crisis that can't be solved in Asian markets -- unless you want those markets to blab. Red China needs to pay down all floating rate debt -- PDQ -- as the Fed is taking rates north. No small amount of Xi's headache is due to his One Belt - One Blowout scheme -- which DEMANDED US dollars -- not yuan -- in every transaction. The UK banks would never use Switzerland. They'd just dial direct -- and both the B of E and the Fed would pull it off hush, hush -- until it's all papered over. The markets are all excited that Liz is about to crash -- when it's Putin that's crashing -- when its Xi that's crashing. It's ironic. The economies that are truly in peril: France, Belgium, Germany, Italy, Poland are all in much tougher straits than Britain. Relative to the EU -- the UK is looking pretty terrific. I expect France to amaze all -- and spool up its atomic reactors, PDQ. European coal will be burnt. It won't destroy planet Earth. It, coal burning, won't even go on and on and on. (Putin sits rocky on his throne. He could fall out of a window.) I expect Liz to paper over what amounts to wartime spending -- same as old Churchill did. (Putin is in economic war with Europe; Xi is in economic war with America. What a tag-team!) Since both Russia and Red China are DEPENDENT economies -- they are sure fire losers.
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