Credit Suisse, which was the second largest bank in Switzerland, and considered a “too big to fail” bank, has failed.
Swiss authorities rushed through a deal late Sunday in an attempt to prevent a whole-scale stock market crash before trading started in Asia, along with futures trading in the U.S.
The deal involved a forced fire sale to its rival bank, the largest bank in Switzerland, Swiss National Bank (SNB), which included both bailout money from Switzerland’s Central Bank for SNB, along with a bail-in of AT1 bonds with Credit Suisse used to fund seniors’ pensions, which will be completely wiped out.
We finally have a deal, and what was at first a CHF1 BN acquisition priceof Credit Suisse by UBS, which then rose to CHF 2 BN, has now cranked up one final time to CHF 3BN (US$3.25 billion), or 0.76 per share, specifically shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse. As part of the deal, the Swiss National Bank is offering a 100 billion-franc liquidity assistance to UBS while the government is granting a 9 billion-franc guarantee for potential losses from assets UBS is taking over, i.e., this is a taxpayer-backed bailout.
More importantly, however, the bank’s entire AT1 tranche – some CHF16BN of Additioanal Tier 1 (AT1) bonds, a $275BN market – will be bailed in and written down to zero, to wit: “FINMA has determined that Credit Suisse’s Additional Tier 1 Capital (deriving from the issuance of Tier 1 Capital Notes) in the aggregate nominal amount of approximately CHF 16 billion will be written off to zero.”
This wipe out, pardon, bail-in is the biggest loss yet for Europe’s $275 billion AT1 market, far eclipsing the approximately €1.35 billion loss suffered by junior bondholders of Spanish lender Banco Popular SA back in 2017, when it was absorbed by Banco Santander SA to avoid a collapse.
AT1 bonds were introduced in Europe after the global financial crisis to serve as shock absorbers when banks start to fail. They are designed to impose permanent losses on bondholders or be converted into equity if a bank’s capital ratios fall below a predetermined level, effectively propping up its balance sheet and allowing it to stay in business.
As Bloomberg notes, investors had been concerned that a so-called bail-in would result in the AT1s being written down, while senior debt issued by the holding company, Credit Suisse would be converted into equity for the bank.
In retrospect, they were right to be worried… meanwhile equity holders get CHF3 billion; we are confident Swiss pensions will be delighted they are getting a doughnut while the Saudis get a not immaterial recovery. (Full article.)
The bail-in wipeout of senior pensions is sure to fuel protests already happening around Europe over pension reforms, especially in France where protests began Thursday night last week when President Emmanuel Macron invoked what is basically an “executive order” before the French Parliament was about to vote on, and DISAPPROVE, pension reforms.
The French have been rioting in the streets since then, continuing through Sunday night, as at the time I am writing this there are still livestream reports being broadcast showing much of France burning.
I have compiled a brief video report on the protests in France, which are now banned, but it doesn’t appear that the French people care too much about the ban. This is on our Bitchute channel.
Could we see similar types of bail-ins and pension funds disappear in the U.S.?
Here is what the CEO of the largest investment firm in the U.S. said a few days ago:
BlackRock CEO Larry Fink sees retirement as ‘silent crisis’ facing global economy
BlackRock Chief Executive Larry Fink raised the specter of the “silent crisis” of retirement facing the global economy as increased longevity makes issues such as higher housing and healthcare costs for retirees more daunting.
In his closely watched annual letter, Fink, the co-founder of the $8.6 trillion money manager, said “investing for a financial goal like retirement is an act of hope and optimism, demonstrating a long-term perspective, trust in financial institutions, and belief in the integrity of the market.”
Fink pointed to lower market-return expectations, higher housing and healthcare costs for retirees, and the shifting of retirement risks to individuals as factors making it difficult to support increased longevity.
Fink said some of the issues driving the retirement crisis include populations in Europe, North America, China, and Japan that are aging due to increased lifespans and falling birthrates. In the U.S., for example, 10,000 people turn 65 every day.
“This has profound implications for each of these markets over time. It will result in a smaller working population and cause income to grow more slowly or even decline,” Fink said. (Full article. Subscription required.)
Read between the lines whatever you want and come to your own conclusions regarding potential future bail-ins in the U.S.
Also, please take note that while depositors were bailed out in the Silicon Valley Bank collapse last week, which included mostly wealthy people who had millions on deposit there, such as California Governor Gavin Newsom, and billionaire Mark Cuban, shareholders were NOT bailed out, and risk losing everything, since the bank has now filed for bankruptcy and no buyers have stepped forward to rescue the bank yet.
The top three shareholders at Silicon Valley Bank were reportedly: Vanguard Group (11.3%), BlackRock (8.1%), and StateStreet (5.2%), which are also among the top firms in the U.S. holding pension funds.
These firms, and many others in the U.S. and around the world, also had vast sums invested in now failed Credit Suisse bank.
It is being widely reported that Warren Buffet is now giving advice to the Biden Administration. In addition to the White House, it has been reported that more than 20 private jets landed in Omaha yesterday, including regional bank CEOs, to seek Buffet’s advice.
What do you call it when an 80-year-old seeks the advice of a 92-year-old?
Answer: the worst financial crisis since Lehman.TM
… appears to have changed his mind and is urgently hoping to recreate the zeitgeist surrounding the infamous Oct 16 “Buy American” NYT op-ed by Warren Buffett.
… which ended up being memorable but only after the biggest bailout of US banks and capital markets in history and the start of the never-ending QR/ZIRP->bust->QE/ZIRP cycle.
According to Bloomberg, Berkshire’s Warren Buffett has been in touch with senior officials in President Joe Biden’s administration in recent days as the regional banking crisis goes from bad to worse to Savings And Loan 2.0 (if only America had any savings left).
The buzz of private jet activity centering on Omaha was first reported by Fuzzy Panda who noted that “a large number (>20) of Private Jets landed in Omaha yesterday afternoon” with jets flying from HQs of Regional Banks, Ski Resorts & DC, and prompting the question “Did Buffett just fly all the regional bank CEOs into Omaha & offer a deal to SAVE the banks?”
Get ready for another wild week as the banking crisis goes from bad to worse.
The corporate media and most of the alternative media are being distracted by political news, such as Donald Trump’s alleged arrest this week, which compared to the banking crisis and the escalation of WW III centered in Ukraine, is quite insignificant.
VICTORY TO THE LIGHT – Now the PROCESS of ARRESTING the last HOLD-OUTS ! Taking a bit LONGER than expected. Some have decided to go back to the LIGHT, they will be welcomed as well.
SOLAR SYSTEM QUARANTINE STILL ON! ALL DARK BEINGS have been CLEANED out of our EARTH’S SOLAR SYSTEM. EXCEPT for EARTH, who we are in PROCESS of CLEARING THEM to a more ‘SUITABLE PLANET.”
KEEP THOSE “LOVE-LIGHT” VIBES – A – SHINNING !
***********************************
SAINT ANDREW QUOTES: for YOU
“SHARING is CARING”
“LOVE is the ANSWER”
“MY HEART is MY HOME”
“HELP the NEEDY not the GREEDY”
“YOU are LIMITLESS not LIMITED”
“Over Meditate NOT over Medicate”
“GO with the FLOW” Your LOVE Vortex !”
YOU are LOVE MASTERS, did YOU forget?
Answers are inside where Love and Light exist.
“It is WISE to learn from your mistakes, it is WISER to learn from other people’s mistakes” – Saint Andrew
***********************************
LOTS of “CABAL BEINGS ARE being ARRESTED!” FOR those “LAGGARDS who REFUSE this LIGHT!’ WILL HAVE to BE REMOVED EVENTUALLY as they won’t be able to “HOLD ALL the INCOMING LOVE-LIGHT FREQUENCIES!” This MAY RESULT in their physical body moving on. There is NO SUCH THING as DEATH, YOU JUST MOVE-ON, to ANOTHER LEVEL as YOU ARE ALL ETERNAL BEINGS.
AS – you DO NOT DIE SPIRITUALLY, YOU ARE ETERNAL SOULS, YOU will MOVE back up the DIMENSIONS, This is NOT to be confused with those WHO have been trained or wrongly programmed believing that there is NO GOD or HEAVEN. You will be pure LIGHT BEINGS soon.
SOME CABAL who FIGHTING AGAINST US, HAVE BEEN REMOVED, SOME WENT BACK to the LIGHT, while OTHERS were REMOVED from the Planet, some still ARE BEING removed, as UNDERGROUND BASES are being BLOWN-UP !
The EARTH ALLIANCE is RESCUING CHILDREN from UNDERGROUND BASES ! And they are ARRESTING the CABAL then blowing-up these CLONING and child TRAFFICKING bases.
ANYONE STANDING in GOD and HEAVEN’S WAY, who wishes to KILL, ROB HUMANITY and CONTROL OTHERS, WILL be REMOVED.
MOTHER and FATHER GOD came from ANDROMEDA as the “HOUSE of RA” to be with us and help with ASCENSION for 25 years and HOW BEAUTIFUL is that everyone !
SOME are GODS & GODDESSES in TRAINING !
YOU ARE SUPERNATURAL ETERNAL BEINGS!
YOU ARE SPIRITUAL BEINGS in HUMAN FORM
HEAVEN is VERY SUPERNATURAL, YOU WILL LEARN YOU are too! Get ready for your powers.
WE ARE ANGELIC BEINGS – GODS and GODDESSES – ALL of YOU HAVE IMMENSE POWER yours to DISCOVER!
ANY LEFT-OVER DARK BEINGS are NOT allowed to interfere with YOUR HOLY ASCENSION PROCESS! STAY AWAY from MSM MANUFACTURED FEAR VIBES DAILY
LUCIFER lied – never went back to the LIGHT and MOTHER of ALL CREATION is a FAKE = LIAR !
I DECLARE, ETERNAL LOVE, PEACE,UNITY, HARMONY, GRATITUDE, JOY, CREATIVITY, APPRECIATION, AND PROSPERITY for ALL!
“WORLD-WIDE FREEDOM from SLAVERY !”
YOU have the ability to CREATE – CREATE CHANGES!
GOD QUOTED:
NO MASSIVE DESTRUCTION is ALLOWED to OCCUR! = NO NUCLEAR WORLD WAR III
“NO” END OF THE WORLD it’s ALL FEAR PORN
OUR ASCENSION has ALREADY STARTED
PEOPLE ARE ASCENDING at their OWN PACE
It is a SLOW and a CONTINUAL PROCESS
PEOPLE are at all DIFFERENT LEVELS
of this PROCESS. It is a NATURAL PROCESS.
TEACHERS and MENTORS ARE ALREADY HERE so GET READY TO MEET THEM !
You have had many lifetimes. YOU have been MALE and YOU have been FEMALE, YOU have been different races, religions and sexes, lived different cultures, give up all the racist attitudes !
“YOU ARE LOVE”
The STRONGEST and
most POWERFUL FORCE
in the ENTIRE UNIVERSE
LOVE is YOUR
“COOL” WEAPON!
USE it with INTENTION
as you send it out.
USE the VIOLET FLAME
of SAINT GERMAIN daily.
DAILY SPIRITUAL PROTECTIONS;
Pull down your PILLAR of WHITE LIGHT
from your [YOUR HIGHER-DIMENSIONAL SELF] to PROTECT YOU daily and INVOKE the GOLDEN RAY of CHRIST in a BALL 2 feet around YOU. If you FEEL THREATENED. Then put that GOLDEN BALL inside of your white PILLAR of LIGHT around YOU at the bottom. PLACE a MIRROR facing outwards around that OVOID ball of GOLDEN LIGHT and SAY; “ALL ACTIONS and INTENTIONS, DEVICES and WEAPONS, and ATTACKS on ME in ANY TIMELINE or DIMENSIONS, – RETURN it to SENDER, and SO IT IS.” Namaste’
WEAR AMETHYST and CITRINE while ASCENDING and clear quartz is powerful too.
STUDY the ENERGIES of the CRYSTALS
“Your EYES are the WINDOWS to your SOUL”
MOTHER EARTH [TERRA] is ASCENDING and HAVING her own BIRTH PANGS but will STAY 4D – YET GAIA is like another earth [D] that is ASCENDING – LIKE a MOTHER in LABOR – SHE is ASCENDING NOW, an ONGOING PROCESS. LOVE YOUR PLANET, MOTHER EARTH as SHE SUSTAINS YOU! WE are NOW in the MIDDLE of the birthing process.
ALL must get to KNOW THIS;
The KINGDOM OF GOD
is WITHIN YOU, INSIDE of YOU!
NOT in ANY STATUES and MONUMENTS.
And NOT inside every CHURCH or souls gather.
BLESSINGS to PROSPERITY is in the WORKS,
THANK-YOU to ALL involved with this. THANK-YOU to ALL GALACTIC BEINGS, ANGELICS and STAR FAMILIES!
THANK-YOU to ALL those LOVELY LIGHT BEINGS – that CAME HERE to GUIDE US, HELP US and PROTECT US. GOD-BLESS YOU ALL !
THANK-YOU and PRAY for those AIDING and enabling the ARRESTS. WE are at 168,000 ARRESTED of the EVIL CABAL so far….,
REMINDER! THAT YOUR THOUGHTS CREATE
– GUIDE YOUR THOUGHTS as they ARE POWERFUL. TRY to THINK of ONLY POSITIVE and LOVING THOUGHTS – AND * SMILE *
STAY the LOVING HEART-CENTERED BEING YOU ARE! TRY NOT to let the LYING CRAZY ILLUMINATI NEWS DETOUR YOU! – ESPECIALLY NOW – IGNORE IT and RAISE YOUR VIBRATIONS ALL – As OUR – HEAVEN IS COMING !!! = THE GOLDEN AGES are NEAR
INTEND: GREAT THING for HUMANITY and YOURSELVES – JOY & PEACE, SPIRITUAL GROWTH, PROSPERITY for ALL beings, ETERNAL UNCONDITIONAL LOVE, and LIGHT!
EARTH has the HIGHEST LIGHT VIBRATIONS in the UNIVERSE. And WE ARE ASCENDING even FASTER!
THOSE JOINING any of the “DARK” ARMIES will LOSE 37% of their LIGHT QUOTIENT, said GOD. YOU NEED to have at LEAST 51 % of a LIGHT QUOTIENT so YOU can continue YOUR ASCENSION on this PLANET with EARTH.
DO NOT “FEED the FEAR,” send LOVE instead. NEWLY ascending SOULS – STAY AWAY from the FEAR. USE the LOVE you FEEL to erase the FEARS, LET THEM all GO!
FEAR is the WEAPON of the DARK. LOVE is the COOL TOOL, your WEAPON of the LIGHT. FORGIVE yourself and OTHERS ALL-WAYS, but that DOESN’T mean, to be a doormat. And COMPASSION is YOUR LAMPLIGHT ahead.
“FORGIVENESS is a KEY FACTOR”, no one is perfect.
STAND-UP for YOURSELVES & for those WHO CAN’T!
“EGO WARS” for NEWLY ASCENDING SOULS. Drop the HUMAN EGO and HUMBLY JOIN US with LOVE and LIGHT.
THE EGO “BATTLE can be WON,” when YOU REALIZE “WE ARE ALL ONE LOVE FORCE connected to the GOD SOURCE!” THINK of – ONE BIG HAPPY EARTH FAMILY that was DIVIDED by the evil DARK WAYS. = NO MORE DIVISION !
* WE ARE – ALL CHOSEN by GOD! BUT some have = NOT CHOSEN GOD and the LIGHT !
MAKE EVERY THOUGHT a LOVING THOUGHT! SMILE!
MANIFEST an “ETERNAL COMPASSIONATE LOVE”
LIVE in an “ATTITUDE of all GRATITUDE” DAILY!
SAINT GERMAIN announced NESARA to the LIGHT WORKERS. SAINT GERMAIN announces the MONEY is on the way today RV and NESARA soon – IT’S HAPPENING!
RV has started, yet and still waiting for the 800 NUMBERS !!!
NEW DISCOVERIES OF HEAVENLY BEINGS !
ARCHANGEL URIEL = Donald TRUMP
ARCHANGEL MICHAEL = JFK JUNIOR
EVIL BEINGS:
OBAMA = WORMWOOD [Messenger of Satan]
D CHENEY = SATAN
TRUDEAU = REPTILE WORM = NIMROD ? NIMROD was an EVIL BABYLON KING
HILLARY CLINTON = LILITH = EVIL
LUCIFER = [Archangel AZUL] [who was attacking LIGHT-WORKERS turned into a COBRA SNAKE and is now helping the LIGHT ? HEAVEN is dealing with him so don’t worry he can’t hurt you.
87 % of MOVIE STARS & 78 % of MUSIC SINGERS sold their SOULS to SATAN told to us by KENT Dunn. They were also SOUL SCALPED [souls stolen] by REPTILIANS, told to us by the ANDROMEDANS
“Q” & “BE CAREFUL WHO you FOLLOW!”
The UNIVERSE is POWERFUL, both KNOWN and UNKNOWN and SEEN and UNSEEN, NO need to be worried just GO with the FLOW…, Saint Andrew
One of our GREATEST enemies but only on the EVIL side known as [The DARK FORCES] and there is a massive HIDDEN WAR with the REPTILES as they try to cling to ill-gotten FINANCIAL POWER and CONTROL through SATANIC and ILLEGAL and EVIL practices. Not to be CONFUSED with those LIGHT-BEING REPTILIANS who are HELPING Humanity.
“All TRUTH passes through 3 stages:
1. First, it is ridiculed.
2. Second, it is violently opposed.
3. Third, it is accepted as “self-evident.”
saintandrewstwinflame 
