Ripped From The Headlines, April 24, 2023
19 More Countries Apply For BRICS, Wall Street - "We Have No Idea," Credit Suisse Hemorrhaging - Read, Share, & Subscribe - SherlocExposes.com
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“Nineteen countries expressed an interest in joining the BRICS group of nations as it prepares to hold an annual summit in South Africa.
The emerging-markets bloc of Brazil, Russia, India, China and South Africa will meet in Cape Town on June 2-3 to discuss its enlargement, Anil Sooklal, South Africa’s ambassador to the group, said in an interview in the city on Monday.
‘What will be discussed is the expansion of BRICS and the modalities of how this will happen,’ he said. ‘Thirteen countries have formally asked to join and another six have asked informally. We are getting applications to join every day.’
China initiated the conversation about expansion when it was BRICS chair last year, as the world’s second-biggest economy tries to build diplomatic clout to counter the dominance of developed countries in the United Nations. The proposed enlargement triggered concern among other members that their influence will be diluted, especially if Beijing’s close allies are admitted. China’s gross domestic product is more than twice the size of all four other BRICS members combined.
“For months, Wall Street has barely focused on the possibility that the government might default on its debt. It’s paying attention now.
As the drop-dead date to raise the nation’s $31.4 trillion debt ceiling looms with no deal in sight, traders and executives are starting to get nervous that President Joe Biden and Republicans won’t resolve the impasse until it’s too late.
That’s sparked increasing concern about a potential threat that could rock markets and tilt the world’s largest economy into recession.
‘There is this view in D.C. that the market isn’t freaking out enough, and that may be true to an extent,’ said Alec Phillips, chief political economist at Goldman Sachs. ‘But I’ve been dealing almost exclusively with this issue the last few weeks, and there is actually more concern now than even in 2011,’ when Standard & Poor’s downgraded U.S. debt during a similar standoff. ‘It’s just that nobody knows when it’s going to happen or what to do about it.’”
“Credit Suisse reported Monday that clients had withdrawn 61.2 billion francs ($69 billion) in the first quarter and that outflows were continuing, highlighting the challenge faced by UBS in rescuing its rival in March.
In the last financial statement as an independent company, Credit Suisse reported a loss of 1.3 billion Swiss francs ($1.46 billion) for the first three months of the year. It said ‘significant net asset outflows’ were seen in March.
Most asset outflows originated from its wealth management unit and occurred in all regions. The troubled bank said, ‘These outflows have moderated but have not yet reversed as of April 24, 2023.’
The Swiss government ultimately forced UBS' $3.25 billion takeover of Credit Suisse last month, and carried significant integration risks. Both banks could see a continued exodus of customers.
High net worth investors started pulling money out of scandal-plagued Credit Suisse well before the turmoil unleashed in the regional US banking sector in March. Bloomberg said more than 200 billion francs of customer deposits over the last six months flowed out of the troubled bank.
‘The magnitude of losses and outflows is alarming,’ Keefe, Bruyette & Woods' analysts wrote in a note to clients. They said, ‘The revenue trajectory is so damaged that the deal could well remain a drag on UBS operating results unless a deeper restructuring plan is announced.’"
“Nothing To See Here Monday,” Ripped From The Headlines. Things To Ponder:
“It’s Only 19 Countries… There’s No Real Threat!”
Can’t you just imagine the nutjobs at NATO and the WHITE HOUSE saying that, as they watch the BRICS news?
Well, ignore it at your own peril.
If you’re a regular reader, you aware that we’ve been covering the growth of BRICS, and what it means for economies, and the US dollar, around the world.
You can Click Here and Here, to see more of our coverage of BRICS, but here it is in a nutshell:
The BRICS nations are making their move…
That fact sends a STRONG message to the Western world… you’ll recall Putin moved $400B + in crypto and #gold when he was kicked off of the SWIFT banking system…
Now, other players around the world are basically saying that there’s no need for the dollar to be the reserve for anything:
“That will represent a direct challenge to the western-designed (and enforced) monetary system, head on. And it comes on the heels of BRICS members already transacting their bilateral trade in local currencies, and bypassing the US dollar.”
This ride is getting bumpy.
And now, 19 more nations have applied to join the organization…
Brace for impact.
“We Have No Idea What’s Going On… But Give Us Your Money Anyway!”
Ain’t Wall Street grand?
In short, Wall Street (through Politico) is telling you that the same elected representatives that they “lobby” are doing their job SO BADLY, that they don’t know what’s going to happen with the debt ceiling, or the economy.
Sounds like that was “lobbying” money poorly spend, right?
What’s really scary, is that Wall Street is making all kinds of weird bets with your savings, retirement funds, and various investments…
And, by all accounts, are largely flying blind and just making stuff up…
Let that sink in.
You, deaf, dumb, and blind, could probably do better with your investments… or running the government for that matter.
Still not convinced?
Read this again:
‘There is this view in D.C. that the market isn’t freaking out enough, and that may be true to an extent,’ said Alec Phillips, chief political economist at Goldman Sachs. ‘But I’ve been dealing almost exclusively with this issue the last few weeks, and there is actually more concern now than even in 2011,’ when Standard & Poor’s downgraded U.S. debt during a similar standoff.
‘It’s just that nobody knows when it’s going to happen or what to do about it.’”
Wow.
Know. Your. Foe.
“Major Bank Hemorraging Money? Not To Worry, Peasant!”
Let’s get you some context on what’s happening here:
This is what we shared in the March 15th edition of Ripped From The Headlines:
As we shared earlier this week on Salem Orlando’s 94.9 FM/950 AM The Answer, most people don’t appreciate just how close we are to a full-blown economic meltdown…
Worldwide. Check out the interview:
Please understand how serious this actually is…
Remember, when the bomb diffuser lady is running… you should try and keep up.
Credit Suisse is like the Ukraine of the banking system…
It’s where all of the bad stuff goes to get “cleaned up.”
How important is Credit Suisse, you ask?
So important that THE SWISS GOVERNMENT STEPPED IN AND CHANGED THE RULES TO ALLOW UBS TO BUY THEM.
And now, we’re getting our first look at the damage.
To get the full lowdown on what happened and what’s coming with regard to the banking system worldwide, check out this interview on the Officer Tatum Show on the Salem Radio Network:
Know Your Foe.
You need to be prepared… there’s just too much crazy stuff happening.
We’ve found the 4Patriots solar generators to be light and easy to use. Plus, they are quiet and don’t require fuel.
You’re able to power key things like your fridge, freezer, coffee maker, and more.
What Does This Mean?
Erasing your status as a normal person with a family who is trying to do better, and turning you into a slave/serf class is being flaunted in your face by people that we, as a people, allow to take on and remain in positions of power.
Soon, it will go from flaunting to actively doing… whether you agree/consent or not.
Why Should I Care?
Have you seen (the names are clickable):
Watch them.
You Should Care.
What Should I Do?
Take a moment… right now if you can… to take inventory of what you’re seeing in this newsletter each day.
Have you ever seen a time quite like this?
Ok good, you’re paying attention.
That’s the point.
If you’re not paying attention and trapped in the hustle and bustle of a busy world (with a ton of useless stuff, by the way), this stuff will come up on you like a thief in the night.
Take stock of one thing, right now, that you need to shore up… is it food? Medical supplies? Water?
Focus on taking care of that as best you can by the end of this week.
Then, take care of the next thing.
GET MOVING ASAP.
Also, please share what you get from this newsletter.
It’s OK if you don’t understand it all.
Tell them to ask us.
Your future, and theirs, depend on it.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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