Too big to fail last week; down the toilet this week
We live in interesting times. The American Empire is in the process of de-empiring. This is good news for the world at large, but there could be a few bumps in the road as the Exceptionalists in DC double down and double down again on their strategic mission to maintain “full spectrum dominance.” An increasing percentage of global trade has been avoiding the US dollar. This trend has been visible for at least ten years. But the current cluster-fuck has greatly speeded up the process. Confidence in the USD is waning world-wide. Quite aside from the two minor banks that went tits up in America in recent days, there’s a global banking behemoth staggering around in its death wobble. That would be Credit Suisse. That’s near top of the pile of banks too big to fail. It has failed, and state intervention is the only thing standing between Credit Suisse and bankruptcy. If major Swiss banks are at risk, why do we blithely assume our major Canadian banks are untouchable?
Source: http://theviewfromfallingdowns.blogspot.com/2023/03/too-big-to-fail-last-week-down-toilet.html
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