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Tim Price: Financial regime change is coming
By Tim Price
Price Value Partners, London
Saturday, April 1, 2023
"The governor of the Bank of England has dismissed the prospect of an imminent financial crisis, describing last week's dumping of European bank shares as investors 'testing out' lenders and insisting the world is not 'at all in the place' it was before the 2008 crash."
-- The Financial Times, "BoE Governor Andrew Bailey Dismisses Chances of Financial Crisis," March 29, 2023.
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Andrew Bailey is right. The world is not at all in the place it was before the 2008 crash. It is far worse this time around.
... Dispatch continues below ...
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Government finances and general indebtedness, post-Covid, are in demonstrably worse shape than they were at the time that Lehman Brothers failed. The yields on U.. government paper -- the world's "risk-free rate" -- have soared, and very quickly, as the Federal Reserve has grimly continued to hike interest rates in a doomed attempt to moderate the inflation caused by its own money-printing policies.
Several large banks have already failed, or been put down -- notoriously, Credit Suisse, the 167-year-old banking giant that was forced into an 11th-hour shotgun wedding with domestic rival UBS (very 2008). In the words of Cormac McCarthy in "No Cuntry for Old Men":
"It's a mess, ain't it, Sheriff?"
"If it ain't, it'll do till a mess gets here."
... For the remainder of the commentary:
https://www.pricevaluepartners.com/regime-change-is-coming/
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
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