Rumble Video Mirror The recent moves in the banking and monetary systems by the Eastern Powers comes right as big U.S. & European Banks collapsed or consolidated haphazardly. There is more of that to come as the Federal Reserve, Treasury and the European Central Banks are out on a rope.
This was so well done! Thank you for putting this together. SOFR is just a rate index which will may or may not cause disruption but selling oil in other than the dollar is a seismic change that will eventually affect the standard of living of much of the west, not just the US. The result will be that the US will not be able to offer support like it's done in the past. A 4th Turning for sure. Thank you again.
But since it's not the LIBOR, tied to London Banking, it has an impact. Any contractual changes are always messy. People make errors. What if: a cyber attack took place that weekend July 1-3?
I didnt speculate that. But given the nature of war ( and we are at war) I would hazard that would be a paralyzing event. And a computer virus that would randomly change data in all these derivatives...
But let's hope people get the memo their lives are about to change in ways their great grandparents only knew.
This was so well done! Thank you for putting this together. SOFR is just a rate index which will may or may not cause disruption but selling oil in other than the dollar is a seismic change that will eventually affect the standard of living of much of the west, not just the US. The result will be that the US will not be able to offer support like it's done in the past. A 4th Turning for sure. Thank you again.
But since it's not the LIBOR, tied to London Banking, it has an impact. Any contractual changes are always messy. People make errors. What if: a cyber attack took place that weekend July 1-3?
I didnt speculate that. But given the nature of war ( and we are at war) I would hazard that would be a paralyzing event. And a computer virus that would randomly change data in all these derivatives...
But let's hope people get the memo their lives are about to change in ways their great grandparents only knew.