The move came on the heels of a deal brokered by Swiss authorities to have UBS buy rival Swiss bank Credit Suisse to prevent its disorderly collapse and signals the depth of concern central bankers have over the recent turmoil in the financial system on both sides of the Atlantic.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
Operations will commence on Monday and will continue at least through the end of April, the Fed said. “The network of swap lines among these central banks … serves as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses,” the Bank of Canada press release said on March 19.
CIBC Scotia bank has tons of us treasuries. if people run them. they are forced to sell at a massive loss.... combined with mortgage defaults and car loan/leasing. they sure can go under and fast. I got my money out
See they’re telling you but not spelling it out.
How many people have mortgage
Gold is going up faster than elonmusk s satellites
Time to get cha money out… before they confiscate it….
And the taxpayers will be the ones left holding the bag.
Thanks to JB and JT and others with thier far left policies to print billions of dollars and spend on ridiculous items such as war and gender equality etc. What a huge waste .. Has put a strain on the world markets.
Bank of canada is in one of the best position out there. Canada has the most robust banking system in the world. We would be the last one standing.
And the panic is setting in..
'joint liquidity operation' Oh f**k
Classic Canadian strategy: copy whatever America does
Hmmm interesting.
And so the BRICS will run the world.Putin chose the start of the Ukraine war wisely.
Feds spent billions and billions
Now we are f****d.
All brought on by high interest rates, and the speed at which it happened…wonder if it will come back down as quick! 🤔 BUT it is self inflicted
And slowly the financial storm will hit Canada to. Money printing and sanction chickens are coming home to roost.
all part of the plan it would seem
Problem-Reaction-Solution. They want a new system. Based off central bank digital currency and social credit. So, they have to kill the current system. The solution will be the new system. They'll cause a problem with the current system. Wait for our reaction and presto!
Here they go again.
When you keep bailing out the rich, they buy more property leaving the rest of on the streets.
$5.4B in Credit Suisse losses is going to cause a global banking meltdown but the CRA says looking for the $15B in Covid relief payments isn’t worth the effort? Seems like this could all be easily avoided if the right people wanted it to be.
So inflation going to go up again lol
very interesting, very relevant for the times, easy to understand…enjoy
Sooooo it was all ok for the Bank of Canada to smile at trudeaus spending then pick up their part of the plan and print $billions Canadians shouldn't criticize BofC or Trudeau. Right? We are a propaganda based banana Republic.
No economist thought that cranking the rates up suddenly in times of high inflation (proved not to be transitory) after flooding the market with cheap money and social unsustainable programs for long time would lead to disaster?
So Quantitive easing, again? What is the play book to bring financial stability back to Canada. And when are folks going to get that the problem is Tiff and Carolyn . They have made one mistake after another
Who is running these banks ?increasing interest at such a fast pace was sure to place additional stress on the banking system . Fighting inflation by increasing interest rates resulted in the collateral damages now present in the banking system.They should have known the impact
Look kids, world bankers are kicking the can down the road...
Canadian banks will be next to collapse with these rate hikes
Take your cash out folks
'as banking fears grow' noted, the collapse is coming
Are central bankers arrogant boneheads?
We've seen this play out before - Pacifying Words as the world collapses Someone check Hank Paulson to see if he is on the phone with his wife - Telling her to take Cash out of the Bank. That's how its done right? Tell the 'people' its okay while shoring up your own stash?
Might head into the bank tomorrow...
Regulators around the world asleep at the switch...again.
The new covid scare oh no we’re terrified! Climate change!!!!!! The tooth ferry too !
Roller coaster ride!!!! Here we go!!!
Fuck that...let the corrupt system burn and rebuild from there. Tied of the banks and the rich being bailed out using tax payer's money.
Remember, Trudeau said during the pandemic that the government would spend money so Canadians wouldn’t have to. People actually fell for that.
Great this will mean higher fees here...fantastic
So.... CBDCs coming under this excuse? Hopefully not. There is 'temporary' 2 weeks to flatten the curve for this one.... It would be a lasting problem. Centralized control of currency to that degree would potentially be misused and abused.
To be fair nobody could have predicted turning the economy on and off and printing billions of dollars would have consequences.
Joint liquidity operation = a fancy term for bailout
All the big players investors moving money around in a panic.
Time for some bank runs folks.
oh oh!
This is a Trudeau made problem. A dishonest Fed not taking responsibility for their despicable lack of foresight. Bank of Canada officers should be fired and Trudeau should be thrown out of office. The NDP are a the very least culpable for Liberal monetary policy. Criminals ALL!
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