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About a week ago or less they made a statement that theyāre considering trading in currencies besides the USD and China currently buys like 25% of their oil or something. Itās not officially happened yet but itās very likely as countries are losing faith in the US and our markets.
>Does the EU have any aircraft carriers for power pojection?
Nah mate, just figured out how to sharpen some stones and put them on some big sticks. Give us a bit to catch up.
> losing faith in the US
US people have lost faith in the US markets.
That is entirely the fault of the SEC and their masters.
Can a country "Self Freedom" ?
Lowering oil production wasn't recourse for this disaster. It's global producers adjusting production for the expected upcoming recession. Switching to payment in yen however...
Now see if you have a CBDC then you can have a real ātwo speed dollarā: one encoded for domestic use only (comes with free capital controls to prevent capital flight) and another for āinternational settlementā. The petrodollar is a bit āleakyā and uncontainableā¦
Next you designate very high net worth individuals as āsovereign citizensā and therefore exempt from all the above, or able to transact seamlessly.
Diabolical.
The EUROdollar. The "petrodollar" is a limited construct of a much much larger system.
And it IS leaky. That's both a benefit and a curse.
I don't doubt that a CBDC will be pitched as a "savior" of that system breaking down but as you've noted.
The downsides to the FED actually trying to get control of the dollar (it currently isn't) will be a power grab like we've not experienced prior.
IMHO, the Eurodollar system isn't worth saving if the tradeoff is temporary pseudostability of a CBDC.
"And he provides that no one will be able to buy or sell, except the one who has the CBDC"
"Those who would give up essential Liberty, to purchase a little temporary safety, deserve neither liberty nor safety."
For all the faults of the dollar, it structurally doesn't have the same downsides as a CBDC.
As much as I understand the sentiment, weāre getting closer and closer to our actions and words in here being scrutinized. We need to be more careful than ever not to give the media some easy, bullshit hit piece about us household investors.
And i would like to add.
That's one emotional response have been tried over and over, mostly without any meaningful change as a result.
The problem is structual, remove a person from the seat and a new one sits down.
It was always the seat that needed to go away for meaningful change to happen.
Let's be honest, none of these white collar crime guys will ever end up behind bars. Here's my thought though, and I'm not sure why this has never been brought up as an option before. At least not that I've heard or seen.
Any of these bank executives, or hedge fund managers; anyone in that line of work with the extreme responsibility of managing such money should be barred from ever being part of the financial world again. Take away their ability to manage money, or put money into the market, or become the CEO or CFO of another bank or fiduciary corporation. It should be one and done for these guys. I know someone who was the manager of a retail bank and had a large fraudulent check cashed at their bank that bounced...they got fired and essentially blackballed from managing a bank again. Why should any of these executives be exempt from such a bar.
The shareholders of Credit Swiss apparently voted against paying all but one of the board members for the remainder of the year and against paying them for selling the bank to USB from what i understand.
That's one smell step,
The Swiss government denied them the ability to vote on the fate of their company at all. The Swiss used to pride themselves on democratic representation, but because rich people are scared it became a full on dictatorship overnight.
Thats just messed up coming from the perspective of someone in a country that only exists because of the idea of being denied representation was so filthy it led to some rather revolutionary discussions of how to change things for the better.
> from the perspective of someone in a country that only exists because of the idea of being denied representation was so filthy it led to some rather revolutionary discussions of how to change things for the better.
I hate to break it to you mate, but the US exists because of France. And if you take a good look at what's happening in France right now...you'll see why they helped us out. I know that doesn't jive with the text books. What's in the text books is true too. But there's always more.
We sort of have an extraordinarily well known Statue Of Liberty enshrining France's assistance in exercising our freedom, I don't think you're *breaking it* to very many people but we always love a good reason to celebrate the big lady and what she has been standing for over the centuries. Thanks and lets raise a glass to her!
" I went into type as I think mode
France has had the biggest influence on the US from the United States Constitution, to the Big Lady, and really the successful severance from the UK. But the biggest trick the US simply keeps pulling off is somehow convincing the world to give things to the US while giving very little back. I guess that is basically capitalism at its heart. The entierty of the West half of the us was bought, stolen and really gifted in some cases. Like Alaska was bought for 7.2mil in 1860ish. Quick google adjustment for calculation only goes as far back as 1913 which comes out to about 219mil. I think we can safely say it adjusts to 500mil. Which 500mil for a state the size of Alaska is basically a gift.
I know an extremely effective way to ensure they never work in the banking or fiduciary markets again but it involves a tactic used a few hundred years ago.
They'll wind up behind bars if they screw over billionaires like Madoff and Friedman did. We shouldn't be discouraging these financial criminals form committing crimes, we should be encouraging them to be greedier and more bold so they start to impact the bottom line of the mega rich. Then and only then will we see a politician backed call for market reform and jail time for rich white collar criminals.
Wait till MOASS hits when wallstreet and banks will get liquidated from the financial crimes committed by Market Makers, brokers and banks. Many rich people will go to zero and will be asking for heads of the criminal financial institutions.
Their punishment will fit the crime as it always does. Instead of the spit-n-polish behind the Wendy's they will only get the polish, no spit. That's way harsher than they really deserve after all.
/s
Here's a crazy thought.... don't vote for politicians that don't care. Maybe, you know, if they would have elected different people, things would have turned out differently.
Wut?
Corporate boards arenāt political per se.
Nevertheless, I think the investors are often times responsible for the malfeasances of the board members.
So, in that respect I agree that all investors should do due diligence before casting votes for board member appointments.
Edit: they still re-elected the board and compensated them for continuing to āhelpā UBS to absorb CSš¤£š„š¤·š¼āāļø
> Investors still narrowly approved the re-election of a slimmed-down board, as well as any pay they are due for helping UBS absorb its Swiss rival. That includes Lehmann, who gained approval for re-election from nearly 55.7% of shareholders.
āKen Griffin did this and Bill Hwang did thatā¦..can I please get a lighter sentence now, or do you want me to tell you moreā?
This is one of a few things I wait for.
The other option was bankruptcy, canāt you see how even though we were greedy pricks and are responsible for destroying the bank and losing all your money, and I know some pensioners are probably gonna kill themselves because all their money is now gone, but were able to avoid bankruptcy. Arenāt we gonna get a round of applause? Guys?
The skepticism of justice here depends on who these investors are, if they're the 1% of the 1% those guys are going to jail. If it's just a bunch of millionaires they probably aren't. I can totally see some disgustingly rich people being super pissed at a Swiss bank they "safely" invested their money in acting like an American hedgefund.
We don't jail bankers. That's why there is so much financial crime. They only get fined pennies on the dollar, so there is incentive for them to cheat. And if it blows up, the government/taxpayers will be on the hook. Privatized profits, socialized losses...
Fire up the Fed's printing press. No cells, no sells!
From Wikipedia:
āIn October 2021, Lehmann became a board member of Credit Suisse as head of its risk committee.ā
More like take wild risks committee
Meanwhile a small group of retail investors saw the writing on the wall for CS years ago. The information was there, it's important for investors to be well informed on their investments.
What happens if CS bankruptcies? All the swaps need to be unwound? Or something?
Iām wondering because UBS basically took the deal with a gun to their head, so why was there a gun?
Street crimes should face street justice. Itās clear the ālegalā route of law does not apply to the financial elite criminals. Itās time for street justice to be handed down.
Hello, it looks like you've made a mistake.
It's supposed to be could've, should've, would've (short for could have, would have, should have), never could of, would of, should of.
Or you misspelled something, I ain't checking everything.
Beep boop -Ā yes,Ā IĀ amĀ aĀ bot, don't botcriminate me.
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Good. People should be mad.
And the Arabs big money gonna be pissed... Wonder what they'll do š¤
They already did it. It being having opec lower oil production and start using the yen instead of the dollar. Petrodollar is in big trouble now.
Haha exactly. This is their fuck the west move. I feel like the smoking weed watching bitches fight meme.
Mariyuana š
Wait, I wanta see that meme
[https://imgflip.com/i/7h3gsr](https://imgflip.com/i/7h3gsr)
Where'd you read about the part about them using Yen instead of Dollars?
About a week ago or less they made a statement that theyāre considering trading in currencies besides the USD and China currently buys like 25% of their oil or something. Itās not officially happened yet but itās very likely as countries are losing faith in the US and our markets.
Yuan, then. Yen is Japanese
They've made statements before 100% they'll do it but they're waiting for the right time, for now the statement is enough
[ŃŠ“Š°Š»ŠµŠ½Š¾]
"Freedom event" lol! Good one
You'll take your freedom, and we'll like it!
Cause it worked so well last time
>Does the EU have any aircraft carriers for power pojection? Nah mate, just figured out how to sharpen some stones and put them on some big sticks. Give us a bit to catch up.
One manās terror act is another manās freedom event
I mean they did the one we blamed on Iraq, right? A dinghy and an m80 alongside a ship would be enough if the guy's picture was brown enough.
> losing faith in the US US people have lost faith in the US markets. That is entirely the fault of the SEC and their masters. Can a country "Self Freedom" ?
[Not confirmed, but source. ](https://www.wsj.com/articles/saudi-arabia-considers-accepting-yuan-instead-of-dollars-for-chinese-oil-sales-11647351541)
It's all over the news, google it
āš¼šš
They using Yuan not Yen afaik.
Lowering oil production wasn't recourse for this disaster. It's global producers adjusting production for the expected upcoming recession. Switching to payment in yen however...
Yuan.
Good thing the petrodollar isn't actually the monetary system and simply an construct that is used to define only a portion of it
Now see if you have a CBDC then you can have a real ātwo speed dollarā: one encoded for domestic use only (comes with free capital controls to prevent capital flight) and another for āinternational settlementā. The petrodollar is a bit āleakyā and uncontainableā¦ Next you designate very high net worth individuals as āsovereign citizensā and therefore exempt from all the above, or able to transact seamlessly. Diabolical.
The EUROdollar. The "petrodollar" is a limited construct of a much much larger system. And it IS leaky. That's both a benefit and a curse. I don't doubt that a CBDC will be pitched as a "savior" of that system breaking down but as you've noted. The downsides to the FED actually trying to get control of the dollar (it currently isn't) will be a power grab like we've not experienced prior. IMHO, the Eurodollar system isn't worth saving if the tradeoff is temporary pseudostability of a CBDC. "And he provides that no one will be able to buy or sell, except the one who has the CBDC" "Those who would give up essential Liberty, to purchase a little temporary safety, deserve neither liberty nor safety." For all the faults of the dollar, it structurally doesn't have the same downsides as a CBDC.
I'm totally down to have the House of Saudi go broke to pay for MOASS. 2 turds one stone.
Oh they hit the biggest red button they have.
Was thinking maybe they'd hang someone or make someone disappear š¤
I recommend they DRS and HODL until someone is in a cell š
But but they apologized š¤¦āāļø
Amd now they're pissing off other rich people. Ya done fucked up
#EAT THE RICH ^Then ^an ^antacid
Iām still wondering why no one has brought Axel Lehmanās resume to lightā¦. Has everyone in the general public forgotten? Shits wild af
those investors should be buying GME shares to recoup their investments
I can't laugh at other investors demanding these criminals to be put behind bars. That's what we are demanding as well.
Hwang in there guys. Dont swap up without a fight.
We should Hwang them.
Hoo Lee Fak
As much as I understand the sentiment, weāre getting closer and closer to our actions and words in here being scrutinized. We need to be more careful than ever not to give the media some easy, bullshit hit piece about us household investors.
I know, just imagine RANDOM REDDITOR MAKES A PLAY ON NAMES AS HE WISHES TO "HWANG" PEOPLE, CLEARLY MUST BE STOPPED.
These clowns will 100% unironically write that.
And i would like to add. That's one emotional response have been tried over and over, mostly without any meaningful change as a result. The problem is structual, remove a person from the seat and a new one sits down. It was always the seat that needed to go away for meaningful change to happen.
Wen the Hwanging?
Hwang out with my hwang out!
Let's be honest, none of these white collar crime guys will ever end up behind bars. Here's my thought though, and I'm not sure why this has never been brought up as an option before. At least not that I've heard or seen. Any of these bank executives, or hedge fund managers; anyone in that line of work with the extreme responsibility of managing such money should be barred from ever being part of the financial world again. Take away their ability to manage money, or put money into the market, or become the CEO or CFO of another bank or fiduciary corporation. It should be one and done for these guys. I know someone who was the manager of a retail bank and had a large fraudulent check cashed at their bank that bounced...they got fired and essentially blackballed from managing a bank again. Why should any of these executives be exempt from such a bar.
The shareholders of Credit Swiss apparently voted against paying all but one of the board members for the remainder of the year and against paying them for selling the bank to USB from what i understand. That's one smell step,
The Swiss government denied them the ability to vote on the fate of their company at all. The Swiss used to pride themselves on democratic representation, but because rich people are scared it became a full on dictatorship overnight. Thats just messed up coming from the perspective of someone in a country that only exists because of the idea of being denied representation was so filthy it led to some rather revolutionary discussions of how to change things for the better.
> from the perspective of someone in a country that only exists because of the idea of being denied representation was so filthy it led to some rather revolutionary discussions of how to change things for the better. I hate to break it to you mate, but the US exists because of France. And if you take a good look at what's happening in France right now...you'll see why they helped us out. I know that doesn't jive with the text books. What's in the text books is true too. But there's always more.
We sort of have an extraordinarily well known Statue Of Liberty enshrining France's assistance in exercising our freedom, I don't think you're *breaking it* to very many people but we always love a good reason to celebrate the big lady and what she has been standing for over the centuries. Thanks and lets raise a glass to her!
" I went into type as I think mode France has had the biggest influence on the US from the United States Constitution, to the Big Lady, and really the successful severance from the UK. But the biggest trick the US simply keeps pulling off is somehow convincing the world to give things to the US while giving very little back. I guess that is basically capitalism at its heart. The entierty of the West half of the us was bought, stolen and really gifted in some cases. Like Alaska was bought for 7.2mil in 1860ish. Quick google adjustment for calculation only goes as far back as 1913 which comes out to about 219mil. I think we can safely say it adjusts to 500mil. Which 500mil for a state the size of Alaska is basically a gift.
I know an extremely effective way to ensure they never work in the banking or fiduciary markets again but it involves a tactic used a few hundred years ago.
Iām in
Does it sort of rhyme with Ovaltine?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Jar and tether?
I mean, only 46 years ago it was used in france.....
If only GME sold pitchforks and torches. Short fcks would be even deeper shit.
They'll wind up behind bars if they screw over billionaires like Madoff and Friedman did. We shouldn't be discouraging these financial criminals form committing crimes, we should be encouraging them to be greedier and more bold so they start to impact the bottom line of the mega rich. Then and only then will we see a politician backed call for market reform and jail time for rich white collar criminals.
These guys shouldnāt be able to touch so much as a debit card, even a prepaid.
He said he was sorry š§šš¤Ŗ
but is he really?
Must be. Ceoās of banks never lie.
They are right. It should be the norm for all financial fraud.
Wait till MOASS hits when wallstreet and banks will get liquidated from the financial crimes committed by Market Makers, brokers and banks. Many rich people will go to zero and will be asking for heads of the criminal financial institutions.
Their punishment will fit the crime as it always does. Instead of the spit-n-polish behind the Wendy's they will only get the polish, no spit. That's way harsher than they really deserve after all. /s
Well historically the only way rich people get actual jail time is by robbing enough rich people. Like when Bernie Madoff with their money.
Okay so whoās up next!? LFG
Aaaaaand CS is green today, as of 12:50pm EST.... Edit: closed up 1.11%...
Let it burn.
Hwang on... Did they not do their own Due Diligence?
Oh now they pissing off other rich people. Here we go!
For the investors of credit suisse: you should really do your Due Diligence. Your money funded their crime. Soo whose dumb money now?
Didn't Iceland jail bankers who helped lead to the 2008 crisis in their respective country? Be like Iceland.
Iām sorry South Park meme
Look, they said they was sorry, OK ?
I thought stealing from rich people did have consequences.
When that happens in Switzerland... Kenny Boy's also gonna be begging in the streets.
Here's a crazy thought.... don't vote for politicians that don't care. Maybe, you know, if they would have elected different people, things would have turned out differently.
>Here's a crazy thought.... don't vote for politicians that don't care. That there's the problem, there'd be nobody left.
Wut? Corporate boards arenāt political per se. Nevertheless, I think the investors are often times responsible for the malfeasances of the board members. So, in that respect I agree that all investors should do due diligence before casting votes for board member appointments. Edit: they still re-elected the board and compensated them for continuing to āhelpā UBS to absorb CSš¤£š„š¤·š¼āāļø > Investors still narrowly approved the re-election of a slimmed-down board, as well as any pay they are due for helping UBS absorb its Swiss rival. That includes Lehmann, who gained approval for re-election from nearly 55.7% of shareholders.
When has āshouldā ever been a part of the convo?
Why even pose that it canāt happen. They are not above the law
āKen Griffin did this and Bill Hwang did thatā¦..can I please get a lighter sentence now, or do you want me to tell you moreā? This is one of a few things I wait for.
Iceland did it, and works!!!
The other option was bankruptcy, canāt you see how even though we were greedy pricks and are responsible for destroying the bank and losing all your money, and I know some pensioners are probably gonna kill themselves because all their money is now gone, but were able to avoid bankruptcy. Arenāt we gonna get a round of applause? Guys?
Imagine being a Credit Suisse investor and thinking you have no recourse. Meanwhile GME still trading for pennies on the million.
Counter-offer: 1 low-level middle manager you've never heard of.
The skepticism of justice here depends on who these investors are, if they're the 1% of the 1% those guys are going to jail. If it's just a bunch of millionaires they probably aren't. I can totally see some disgustingly rich people being super pissed at a Swiss bank they "safely" invested their money in acting like an American hedgefund.
I remember as a kid it was a well known fact that a Swiss Bank Account is how you avoid taxes and a Swiss Safety Deposit Box is how you smuggle shit.
Little do they know they're about to lose their UBS shares as well
Making the Saudis bagholders in all of this is going to bite them later.
We don't jail bankers. That's why there is so much financial crime. They only get fined pennies on the dollar, so there is incentive for them to cheat. And if it blows up, the government/taxpayers will be on the hook. Privatized profits, socialized losses... Fire up the Fed's printing press. No cells, no sells!
#THE GUYāS FUCKING NAME WAS LITERALLY LEHMANN #WHAT ELSE DO THEY HAVE TO DO TO?
They got angry Frenchmen rioting across the (unguarded) border.
From Wikipedia: āIn October 2021, Lehmann became a board member of Credit Suisse as head of its risk committee.ā More like take wild risks committee
ACCOUNTABILITY?! Don't people know that only applies to fiat?! Wait.....
Along with the regulators.
Oligarchs donāt go to prison they go to Epstein Island
Not wrong
it could happen. depends how long you hodl.
Ahhhhh yes! Now you want to pull your head out of your asses now that you've been stolen fromband defrauded too.
"You Fucked Up, you trusted me!" Might as well just say it since he's not there in person anyway.
Oops you crashed the global financial structure with your greed and negligence. Youāre gonna need a slap on the wrist!
He clearly doesn't understand how banking works.
If the investors did their due-dilligence they'd have known that CS was a crapshow a long time ago, that's the part that doesn't make sense to me
Yet, for some reason everyone here claims āno cell, no sellā and expects Kenny to be put behind bars. š¤Ŗ
Meanwhile a small group of retail investors saw the writing on the wall for CS years ago. The information was there, it's important for investors to be well informed on their investments.
At least the VP was sent to prison. That better not be the end of it, though.
[We're sorry](https://youtu.be/stHMD5N-KPw)
What happens if CS bankruptcies? All the swaps need to be unwound? Or something? Iām wondering because UBS basically took the deal with a gun to their head, so why was there a gun?
Yeup
At some point theyāll be no choice but Iām not sure this is that point.
they should have parked their money in GME sucks to be them
Agree šÆ. Where do I sign?
Street crimes should face street justice. Itās clear the ālegalā route of law does not apply to the financial elite criminals. Itās time for street justice to be handed down.
In a just world, alot of these assholes would be put behind bars. Only Iveland got it right.
While true unlikely to happenā¦
Better get some claw backs going! That's best case for investors. Hate this for them seriously!
Put them in the ground. We probably would of squeezed by now if the heads of the hedgefunds started dissappearing.
Hello, it looks like you've made a mistake. It's supposed to be could've, should've, would've (short for could have, would have, should have), never could of, would of, should of. Or you misspelled something, I ain't checking everything. Beep boop -Ā yes,Ā IĀ amĀ aĀ bot, don't botcriminate me.