Major Bank to Collapse in a few days

E

EMRGLOBAL

"I just got word from a reliable source with an excellent track record he calls me every several weeks when he has something very critical to share,he wants me to put the word out and to see what comes back to confirm or add to the story
an extremely large overnight bank transaction loan failed last night, gathering major attention it started in US west coast, went to Hong Kong, then Singapore, then London it failed in London, by that is meant no return was given on the overnight loan
he guessed the size was something like $10 to $30 billion
he suspected (without much direct evidence) that it was Citigroup
he believes the failing bank is a London subsidiary for a giant US-based bank he likened it to a plumbing blockage with extreme backup consequences "he expects a ripple effect to cause shock waves, or a flood of sewage we wondered if it could have Commercial Paper consequences, since often used in overnights
he has five expert friends watching for specific market reactions, like LIBOR so be on the lookout in February, this source said that in May June timeframe, foreign creditors will put the screws to the US bankers, who are recognized as totally corruptforeigner big bankers want to remove some power levers from US control

QUOTE ME IF YOU WISH
my source remains anonymous
jim

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Let see if this guy is correct.
 
This shit is old hat. This was the case last year up until Lehman. Now, you have every central bank in the world backstopping the overnight market, and overall financial system. If this did happen, it was cleared up within minutes, and no one except insiders will ever know.
 
This is purportedly from Jim Willie, but I subscribe to his newsletter and didn't get an e-mail like that. His macro report is due out tomorrow, though.
 
Sorry, but ridiculous. Bond market ripped higher today, up 1+%. Rates are much lower across the board this week. No spikes in overnight repo rates either.

:confused:
 
Even if it is true, what are you supposed to do with such news? Seems useless. If you're long, you have to wait until tomorrow to exit. If you're short you have to wait until tomorrow to short more or exit. Useless.
 
Quote from TrueProp:

Even if it is true, what are you supposed to do with such news? Seems useless. If you're long, you have to wait until tomorrow to exit. If you're short you have to wait until tomorrow to short more or exit. Useless.
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Classic "only able to think one day ahead".
 
I doubt this is true. If there was a hint of a bank collapse and interbank loans were in danger, all parties would be on the phone to the Fed.

The Fed can't let something like a major bank collapse interfere with its green shoots.
 
Quote from bond_trad3r:

I doubt this is true. If there was a hint of a bank collapse and interbank loans were in danger, all parties would be on the phone to the Fed.

The Fed can't let something like a major bank collapse interfere with its green shoots.
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Green shoots of Benjamins, shooting out of the printing machine. :D
 
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