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Catherine’s Money & Markets Report: October 24, 2019
By Catherine Austin Fitts
Theme:
The Friction of War
Stories:
Former Bank of England Governor Mervyn King – “The World Turned Upside Down: Economic Policy in Turbulent Times” or “The Great Stagnation.” Link
Quantum Computing
Fusion Energy Breakthroughs
Anti Technocracy Demos and Unrest in Recent Weeks: Hong Kong. Chile. Lebanon. Indonesia. Netherlands. France. Germany. Russia. Peru. Haiti. Egypt. Syria. Ecuador. Portugal. Catalan/Spain.
Basel Workshop and Swiss Elections
FASAB 56 cleanup continues
Political Furballs: Brexit Ahead, Cummings Funeral, Impeachment Process Gets More Serious
Back Down in the IPO Market
FT: “Argentina bondholders brace for steep losses; oil patch rollovers and bankruptcies”
Israeli pharma co Teva and 3 US distributors settle opioid charges with 2 Ohio counties on eve of trial; Israeli diamond industry sales down
Netanyahu fails to create coalition government; now is Gantz turn
The meaning of Mexican drug wars
DOJ denied use of Godfather II clip in Roger Stone trial
More California Blackouts and fires
Banks Lobbying Fed for S-T Liquidity Facility – More Liquidity Stress in the Money Markets
Erdogon’s Nuclear Ambitions and US Nuclear Weapons in Turkey
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
How interesting. And odd.
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
How interesting. And odd.
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
Catherine, I have to ask you/Ron Kirby for your take on the apparently accelerating banking system liquidity crisis.
My suspicion is that the Fed HAS to keep the banks from bidding for deposits by offering higher rates. In other words, it cannot let rates normalize via bank supply/demand for liquidity, as it must “mitigate the risk of money market pressures that could adversely affect policy implementation”.
Also, I can’t help but suspect that the collateral for these repo operations is itself hyper-hypothecated. For instance, isn’t it highly likely that the SAME T-bill/notes are being pledged as collateral for cash by many different banks?
I know Kirby thinks it may be “all about bad energy loans” that cannot be repaid, which also makes sense as part of this giant mess.
Just trying to synthesize the scope of what in my mind is a mute – but giant – crisis.
Any comments thoughts you might have are greatly appreciated.
Will address in Money & Markets tonight.
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
God, this was good! Straight up physics porn 🙂 Thank you Ulrike & Solari
🙂
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
How interesting. And odd.
Dear Catherine,
I am currently in north county San Diego visitng relatives. In the month or so since I have been here there has only been one day when chemtrail / geoengineering spraying has taken place. Not so long ago folks here suffered through almost daily doses of atmospheric spraying. Perhaps the powers that be are more involved with northern California these days. Whatever the reason people here are thankful for the sharp reduction in spraying.
Happy to hear it! I grew up in that area—the sky and clouds used to be so beautiful there.
How interesting. And odd.
Wow… looks like Microsoft got the JEDI contract!
https://finance.yahoo.com/news/microsoft-wins-10-billion-pentagon-232402076.html
Not surprising. All Big banks number #1 holding is Microsoft. Whatever huge percentage of computers uses windows.
Yes, that was quite a fight. Bezo’s now has a graduate degree in Deep State Tactics.