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The stock market was not happy with HSBC. The banking giant reported what should have been a small nothing, a $400mm loss on a loan to an Irish entity with a name that sounds like a Star Wars droid. AGF WHCO 1-A5. But that $400mm loan and loss ended
I have said for years that people misunderstand the global monetary system. It is not driven by trade balances. It is driven by capital flows and access to dollar liquidity.
The Secret Reason World War I Started
Urgent warnings about credit markets from Hank Paulson and Jamie Dimon deserve your attention. And the looming set of nested supply and inflationary shocks are being met with more money printing by the Fed.
Digital ID: Treasury Secretary Scott Bessent Reveals Trump Plans To Sign Executive Order To Hand Over Biometric Data To Hold A Bank Account
Crypto exchanges are increasingly offering bank-like services such as lending and yield products, but without the protection traditional financial institutions provide, according to a report issued Thursday by the Bank for International Settlements (
(Q4 2025 Version). During the past year, I have been posting a screen showing large banks with excessive exposures to uninsured deposits as a percentage of assets.
Publicly traded credit funds have more leverage than they used to, often in ways not visible
Banks are closing down, cash is being removed, digital ID is being introduced, facial recognition cameras are being enforced and a social credit system is on the horizon. We the people have to stop this.
The Banco Central do Brasil has raised gold's share of reserves from 3.55% to 7.19% in just one year, effectively doubling its exposure and making gold the second-largest reserve asset after the US dollar, while total reserves stand at approximatel
"This is what loss of control looks like before it's officially recognized--central banks stepping in, debt spiraling beyond any realistic exit, and the real economy tightening underneath a headline rally.
With regard to the long-running debate between Rothbardians and modern free bankers, most prominently Lawrence White and George Selgin...
You'd think that would have a sizable impact on BCRED's NAV (where the position represents roughly 1.8% of net assets).
Software maker Medallia, dental-services provider Affordable Care can't repay billions borrowed from private-credit lenders including Blackstone and KKR
...in the asset class that I had not fully appreciated before.
...private credit, or regulation:
"The government should be afraid of the people, the people shouldn't be afraid of the government." ? Edward Snowden
Visa has just unveiled a new suite of artificial intelligence tools designed to overhaul how credit card disputes are handled, and once again this is being presented as a simple evolution toward efficiency and improved customer experience...
"Hard Bifurcation with Craig Tindale"
The Oligarchs' Weapons: 1. Banks with their counterfeit (some call it "money") 2. Governments 3. Their corporations.
Deloitte audited the fund and issued clean reports without verifying assets, according to lawsuits.
Five major rules around the $10,000 bank reporting threshold have been quietly rewritten in the last 24 months -- and almost nobody over the age of 60 has been told.
Mars FX, led by David Choi, promised unrealistic 19% annual returns with no losses--an obvious red flag--yet attracted about $600 million from investors. Funds were routed to a secret offshore "technology partner" later identified as inactive.
In 1948, Claude Shannon published "A Mathematical Theory of Communication" in the Bell System Technical Journal, a paper that established information theory as a formal discipline.
The argument against private credit states that banks have enough exposure to private credit that they will bear large and asymmetric risks if the private credit market ever takes a turn for the worse.
...or custodians, evolving into multifunction cryptoasset intermediaries.
A US senator has reportedly urged Senate Banking Chair Tim Scott to delay the markup for the crypto market structure bill until May, as banking and crypto representatives need more time to resolve disagreements over stablecoin yield provisions.
Big, really big bombshell: The same banks publicly calling private credit "manageable" just launched a CDS index to short it. In short: When banks build the instrument to bet against a market, the diagnosis is already made.
The Fed is likely thinking bailout or backstop for private credit, while banks look to monetize its demise.
Private Capital Titans Pay Advisers $2 Billion to Sell Their Products.
