Latest / Earn Your Leisure / The Fall of Credit Suisse & The Future for Banks

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The Fall of Credit Suisse & The Future for Banks · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: Let's talk about this banking crisis. Let's take a step
• 1:03
  Speaker 3: by step. Another one the latest one, UBS acquires Credit
• 1:07
  Speaker 3: Swiss for three point two billion. So this is interesting.
• 1:13
  Speaker 3: Actually posted this on ig where they were actually rivals.
• 1:18
  Speaker 4: Yes, yes, number one and number two they were rivals
• 1:22
  Speaker 4: for a while.
• 1:22
  Speaker 5: It's like Bad Boys Bond Death Row in ninety eight
• 1:25
  Speaker 5: or ninety seven.
• 1:26
  Speaker 2: Yeah, yeah, very comparable. Yep.
• 1:28
  Speaker 4: Yeah.
• 1:29
  Speaker 3: So yeah, Grannis Swiss fell into some trouble over the
• 1:32
  Speaker 3: last week or two and this weekend the government forced regulators.
• 1:37
  Speaker 3: The government regulators forced the sale, gave them a deal
• 1:41
  Speaker 3: that they couldn't refuse.
• 1:42
  Speaker 4: The only deal was it was only one deal. Yeah, basically, also,
• 1:47
  Speaker 4: this is your plan.
• 1:48
  Speaker 3: So the company was valued that eight billion dollars market cap.
• 1:53
  Speaker 3: They initial offer was one billion. They thought that was
• 1:55
  Speaker 3: extremely disrespectful. The friends in Saudi National Bank, which is
• 2:01
  Speaker 3: the largest shareholder, which they said, don't do it, urged
• 2:04
  Speaker 3: them not to do it, counted back with a two
• 2:07
  Speaker 3: billion franc offer. They said, don't do it. Settled for
• 2:12
  Speaker 3: three point two billion, sold one billion, two billion, three billion.
• 2:17
  Speaker 6: So this happened, I mean this whole twenty four hours.
• 2:20
  Speaker 4: Uh yeah, stock dropped fifty.
• 2:24
  Speaker 3: It's from Friday to Monday, and the whole world is
• 2:29
  Speaker 3: once again going crazy. Another bank collapsed, and this time
• 2:33
  Speaker 3: this is a global bank. This is a large institution
• 2:37
  Speaker 3: with global partners. Billions of dollars on the books. Okay,
• 2:42
  Speaker 3: how does this, how does this one happen? What's what's
• 2:44
  Speaker 3: the deal with this?
• 2:46
  Speaker 5: This is so scary because this reminds me exactly two
• 2:51
  Speaker 5: thousand and eight, But we're acting as if the house
• 2:55
  Speaker 5: is in no fire. Going back to I'm going to
• 2:59
  Speaker 5: go through the chain of events. When FTX collapse happened,
• 3:02
  Speaker 5: it started to unveil the weakness and frailty of the
• 3:05
  Speaker 5: overall banking system for everyone in the crypto space and
• 3:08
  Speaker 5: everyone in the bitcoin space who has been railing and saying, hey,
• 3:13
  Speaker 5: we need another currency to offset any potential losses or
• 3:16
  Speaker 5: massive inflation. This is a prime example of why this
• 3:22
  Speaker 5: is where credit Switees has been a terrible company since
• 3:26
  Speaker 5: the last recession. So the last time they had a
• 3:29
  Speaker 5: high was in April of two thousand and seven. It
• 3:31
  Speaker 5: was like seventy nine dollars and twenty nine cent. It's
• 3:34
  Speaker 5: literally been falling apart ever since. They In twenty ten,
• 3:37
  Speaker 5: it got to a higher fifty nine dollars and sixty
• 3:39
  Speaker 5: six cent. Going back to the Slack ding, if Salesforce
• 3:42
  Speaker 5: paid twenty seven billion for Slack, a piece of software
• 3:47
  Speaker 5: and credit sweets only worth three listen, if these banks
• 3:54
  Speaker 5: internationally fell apart, then regionally we're having issues. You guys
• 3:58
  Speaker 5: see that all the regional directors and regional CEOs want
• 4:02
  Speaker 5: to go meet Warren Buffett. Warren is back to doing
• 4:05
  Speaker 5: his JP James Pierpot Morgan thing of bailing out the
• 4:08
  Speaker 5: regional banks.
• 4:09
  Speaker 2: We'll talk about that later.
• 4:11
  Speaker 5: But if we're having solvency issues, liquidity issues. We told
• 4:16
  Speaker 5: you got six months ago that you can't even take
• 4:18
  Speaker 5: a certain amount of money out anymore out of the bank.
• 4:22
  Speaker 5: You have to order the money. There is a big
• 4:25
  Speaker 5: systemic issue with our banks and for them to say
• 4:28
  Speaker 5: all of a sudden, hey, we're going to have to
• 4:29
  Speaker 5: change the legislation with the FBIIC Well, if you have
• 4:33
  Speaker 5: more than two hundred and fifty thousand dollars in we're
• 4:36
  Speaker 5: going to just show up that money no matter what.
• 4:39
  Speaker 5: I don't know where the money is, but it's not
• 4:41
  Speaker 5: in the banks. Is that That's the part like we
• 4:45
  Speaker 5: got to really talk about. And I saw somebody pull
• 4:47
  Speaker 5: They put up the most.
• 4:48
  Speaker 6: Like like simple form meme and it was like, think
• 4:53
  Speaker 6: about the process it takes for a retail just like
• 4:55
  Speaker 6: a retail person, like the everyday person, yes to go
• 4:58
  Speaker 6: to the bank and get a credit card, Like, think
• 5:00
  Speaker 6: about all you have to go through just to get
• 5:02
  Speaker 6: approved for a credit card. And think about the process
• 5:05
  Speaker 6: that these regulators for these banks have to when they
• 5:07
  Speaker 6: make investments in like bonds and things like that. Yes,
• 5:11
  Speaker 6: like this if you just look at the investment a
• 5:13
  Speaker 6: lot of times and that's what we were talking about
• 5:15
  Speaker 6: last week, was like who was approving this? Like what
• 5:19
  Speaker 6: what is the checks and balances when making these when
• 5:21
  Speaker 6: the banks are making these investments.
• 5:23
  Speaker 5: You don't need one when you know you're going to
• 5:24
  Speaker 5: get built out.
• 5:25
  Speaker 6: Because it doesn't even make sense, right, Like if there
• 5:28
  Speaker 6: was if we had a checklist for things that even
• 5:31
  Speaker 6: if we wanted to get a home, like a loan
• 5:33
  Speaker 6: from the bank, the amount of things that the average
• 5:36
  Speaker 6: person has to go through, Yes, and a lot of
• 5:38
  Speaker 6: times we don't even get approved, right if that type
• 5:41
  Speaker 6: of stipulation was put into the banks themselves. But well,
• 5:45
  Speaker 6: even be in a situation and you said the word bailout,
• 5:48
  Speaker 6: but they're not using the world bailout, right, Like the
• 5:51
  Speaker 6: word that they're using is a commercial solution, right, So
• 5:54
  Speaker 6: the government says, look, this is the solution. You need
• 5:58
  Speaker 6: to take this because there is no lead. You are
• 6:00
  Speaker 6: going to take this? What are you supposed to do?
• 6:02
  Speaker 4: Well?
• 6:02
  Speaker 3: You know what's so crazy is you got to take
• 6:04
  Speaker 3: you Well. First off, everybody hit the like button and share.
• 6:07
  Speaker 3: This is live, guys. Yes, I was talking to some
• 6:10
  Speaker 3: people over the weekend and I realized that people are
• 6:16
  Speaker 3: very disturbed when Market Mondays is not live.
• 6:20
  Speaker 4: I don't tell us.
• 6:21
  Speaker 5: Why always live?
• 6:23
  Speaker 3: I don't know. I'm not sure why. They're very sticklers.
• 6:28
  Speaker 3: So here's my thing. Look, I'm okay, I'm fun. That
• 6:32
  Speaker 3: doesn't prove that.
• 6:33
  Speaker 6: I'm just saying this is Thursday Spring and somebody just
• 6:40
  Speaker 6: said a commercial solution in the chash out the one.
• 6:42
  Speaker 3: My thing is that I'm not opposed to it being
• 6:45
  Speaker 3: live a lot, but we got to have If it's
• 6:48
  Speaker 3: more viewers on the pre recorded than the live, then.
• 6:52
  Speaker 5: What it allows for a better broadcast.
• 6:55
  Speaker 4: So let's get the viewership up.
• 6:59
  Speaker 3: Let's push this boy up to seven thousand and maybe
• 7:02
  Speaker 3: we can have a string of live videos.
• 7:05
  Speaker 4: So the like button and share and we can see
• 7:09
  Speaker 4: what we can do.
• 7:10
  Speaker 5: Now, the leaders of the financial movement wouldn't have to
• 7:12
  Speaker 5: manipulate the audience, restrict.
• 7:14
  Speaker 3: Crowd manipulation, crowd participation, wording is very important. Sot's Listens's
• 7:19
  Speaker 3: commercial solution. A lot of people have been asking about
• 7:22
  Speaker 3: ALLY and this is this is this is a legitimate
• 7:25
  Speaker 3: question because we have champions them, so it is something
• 7:29
  Speaker 3: that we should talk about. And I actually spoke to
• 7:33
  Speaker 3: some of the people at ALLY during south By Southwest
• 7:36
  Speaker 3: and I asked them. I said, well, our people are concerned,
• 7:40
  Speaker 3: and this is what they told me. They said that
• 7:44
  Speaker 3: we're in good financial standing. We won't fall to this
• 7:47
  Speaker 3: issue varia of different reasons. They said that we're not
• 7:50
  Speaker 3: a brick and mortar bank, so we don't have the
• 7:53
  Speaker 3: same level of expenses, and that was a legitimate thing.
• 7:57
  Speaker 3: They said, we don't take the same risks that a
• 7:59
  Speaker 3: lot of thinks to take as far as the investment.
• 8:03
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• 8:05
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  Speaker 6: This episode is brought to you by P and C Bank.
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• 9:53
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 9:57
  Speaker 1: in Massachusetts. An MS thirteen gang from Al Salvador accused
• 10:02
  Speaker 1: of murdering a Texas man of Venezuelan charged with filming
• 10:06
  Speaker 1: and selling child pornography in Michigan. These are just some
• 10:10
  Speaker 1: of the heinous migrant criminals caught because of President Donald J.
• 10:14
  Speaker 1: Trump's leadership. I'm Christy nom the United States Secretary of
• 10:17
  Speaker 1: Homeland Security. Under President Trump, attempted illegal border crossings are
• 10:22
  Speaker 1: at the lowest levels ever recorded, and over one hundred
• 10:26
  Speaker 1: thousand illegal aliens have been arrested. If you are here illegally,
• 10:30
  Speaker 1: your next you will be fine nearly one thousand dollars
• 10:33
  Speaker 1: a day, imprisoned and deported. You will never return. But
• 10:38
  Speaker 1: if you register using our CBP home app and leave now,
• 10:41
  Speaker 1: you could be allowed to return legally. Do what's right.
• 10:45
  Speaker 1: Leave now. Under President Trump, America's laws, border and families
• 10:50
  Speaker 1: will be protected.
• 10:51
  Speaker 2: Sponsored by the United States Department of Homeland Security m.
• 10:54
  Speaker 3: H, and that that seemed like a legitimate thing. So
• 10:57
  Speaker 3: momar to the situation. They told me that, and they
• 11:01
  Speaker 3: gave me detailed reasons why they.
• 11:04
  Speaker 5: Don't wonder, which we'll say, Warren Buffett has been investing
• 11:07
  Speaker 5: heavily now quietly for like the last two or three years.
• 11:12
  Speaker 4: That is a sign of confidence for sure. So well
• 11:15
  Speaker 4: we'll see. But yeah, but everything you need, we're all
• 11:20
  Speaker 4: better off than all better off of the ally.
• 11:23
  Speaker 3: But another thing about this bank bailout situation is that
• 11:25
  Speaker 3: I was watching something and they were saying that six
• 11:27
  Speaker 3: thousand people that's all. That's all it takes to get people.
• 11:30
  Speaker 3: Six thousand people on the viewership. Now let's get it
• 11:32
  Speaker 3: up to seven. Let's do to Kevin Samuels and just
• 11:34
  Speaker 3: stop talking. Let's everyone free, don't move stop. Let's try
• 11:42
  Speaker 3: that trick. See how that works. We're not acting for
• 11:45
  Speaker 3: super chats. All we actions for lights. So the bailout thing,
• 11:50
  Speaker 3: and somebody said, like, you know, bailout got such a
• 11:54
  Speaker 3: bad stigma that they stop using the term bailout and
• 11:58
  Speaker 3: they start using other words.
• 11:59
  Speaker 4: They start playing aroun words like what you say that
• 12:01
  Speaker 4: they were using now.
• 12:02
  Speaker 5: Commercial ladies, it's the same thing when guys be like, hey,
• 12:06
  Speaker 5: uh babe, I ain't cheating. We in the politgamous relationship,
• 12:09
  Speaker 5: the same thing. A swindle is a car by any name.
• 12:13
  Speaker 4: Uh cap corn.
• 12:16
  Speaker 3: So so you know, I was watching this documentary about,
• 12:21
  Speaker 3: you know, how to control the masses, and one thing
• 12:23
  Speaker 3: that was interested is that they said that the word
• 12:26
  Speaker 3: propaganda technically is not.
• 12:28
  Speaker 4: A bad word.
• 12:29
  Speaker 3: But after Hitler's regime, you know, Hitler had a whole
• 12:32
  Speaker 3: propaganda campaign, so they didn't want to use that, like
• 12:36
  Speaker 3: when the people Sigmund Freud's nephew is the father of
• 12:41
  Speaker 3: all manipulation when the propertly are but so ever, yep,
• 12:46
  Speaker 3: So when he started his campaign in America, he said, okay,
• 12:50
  Speaker 3: we can't use the word propaganda because it has such
• 12:53
  Speaker 3: a bad stigma.
• 12:54
  Speaker 4: This is how they created public relations. So what we
• 12:58
  Speaker 4: know is pr today was.
• 13:00
  Speaker 3: A spind just because they didn't want to use but
• 13:03
  Speaker 3: it's really propaganda. But he said, public relations is a
• 13:06
  Speaker 3: much better way to put it. And this is something
• 13:09
  Speaker 3: that the people will actually be interested in because you're
• 13:12
  Speaker 3: naming it public relations. I say that to say this
• 13:15
  Speaker 3: happens a variety of different times where something is just reworded.
• 13:19
  Speaker 3: It's the same exact packaging. It's just reworded, and now
• 13:22
  Speaker 3: it becomes appealing to the public. So you, as an
• 13:26
  Speaker 3: intelligent person, be aware of things that are reworded in
• 13:32
  Speaker 3: different packaging but the same exact product because it's not changing.
• 13:37
  Speaker 3: It's only the name and what they call it is changing.
• 13:40
  Speaker 3: And that's done intentionally for a variety of different reasons,
• 13:43
  Speaker 3: but mainly to have public support.
• 13:46
  Speaker 5: Can I give an example real quick? Yes, systemic risk.
• 13:50
  Speaker 5: Everyone put this in chat. Systemic risk means we f
• 13:53
  Speaker 5: the money up.
• 13:55
  Speaker 2: So if you hear.
• 13:56
  Speaker 5: Banks say we are currently at systemic risk with volatile
• 13:59
  Speaker 5: levels have hit all time highs, that means they have
• 14:02
  Speaker 5: destroyed the company and up the bat and they're trying
• 14:05
  Speaker 5: to figure out a solution to get more money here
• 14:07
  Speaker 5: to offset the losses.
• 14:09
  Speaker 6: It's like the word insolvent. We broke, bro broke. We
• 14:12
  Speaker 6: don't we broke, bro We don't have it. Bro I
• 14:15
  Speaker 6: got it, We don't have it. Bro that's insolvent.
• 14:19
  Speaker 4: We don't have it. I know, we say we have it.
• 14:20
  Speaker 4: We don't. Yeah, we're insolvent. Ran off on the plug twice,
• 14:24
  Speaker 4: want to plug twice?
• 14:26
  Speaker 5: We're gonna go through the same crash for the same reason.
• 14:31
  Speaker 4: And it keeps believable and it keeps happening. Yeah.
• 14:34
  Speaker 6: So, but if they don't have this commercial solution or
• 14:37
  Speaker 6: like we know as a bailout, what happens to the
• 14:40
  Speaker 6: economy person Switzerland?
• 14:42
  Speaker 2: But then on a global skip for sure, the.
• 14:45
  Speaker 5: Truth is they okay. So in ninety nine through two
• 14:48
  Speaker 5: thousand and we're really ninety eight through two thousand and
• 14:51
  Speaker 5: two and the same thing happened. They overfunded tech ideas
• 14:55
  Speaker 5: that were not amazing. So you can swap out pets
• 14:58
  Speaker 5: dot Com for Rivian Motors, Solution Motors, or whoever you
• 15:03
  Speaker 5: want to. In this era, there was overfunded in the
• 15:05
  Speaker 5: tech space because money was flowing easily. That caused the
• 15:08
  Speaker 5: market to crash, and that we had like a low
• 15:10
  Speaker 5: period for forty five years where things are not going
• 15:13
  Speaker 5: well technically since twenty nineteen without all of this extra
• 15:17
  Speaker 5: money supply being thrown out and ruining and quantitative easing
• 15:21
  Speaker 5: having to be forced back in to keep the market afloat,
• 15:23
  Speaker 5: Like we're throwing all this money in to be like
• 15:25
  Speaker 5: at break even or slightly above traders. This is like
• 15:29
  Speaker 5: if you blow up one hundred thousand dollars account then
• 15:31
  Speaker 5: you go borrow seven hundred thousand to offset that one
• 15:34
  Speaker 5: hundred thousand dollars loss. But at scale, this is the
• 15:38
  Speaker 5: same problem from before. The truth is we need to
• 15:41
  Speaker 5: let some of these companies catch on fire or burn
• 15:44
  Speaker 5: and then have new legislation in place and new rules.
• 15:47
  Speaker 5: And I'll talk about it late tonight, but we need
• 15:49
  Speaker 5: to fund more women based companies and more companies that
• 15:53
  Speaker 5: actually provide real solutions opposed to just going through all
• 15:56
  Speaker 5: these angel competitions that are just slushing money around endlessly,
• 16:02
  Speaker 5: that keep propagating the same issue, Like we are literally
• 16:05
  Speaker 5: going through the same thing from two thousand and seven
• 16:08
  Speaker 5: to two thousand and eight and called in something else
• 16:10
  Speaker 5: and acting like we're not going through the same issues
• 16:12
  Speaker 5: as before. It's heartbreaking, bro.
• 16:16
  Speaker 6: So this is I want to give like contact to
• 16:18
  Speaker 6: this because when I read this, I'm like, oh wow,
• 16:20
  Speaker 6: all right, So this is by the numbers.
• 16:22
  Speaker 4: So UBS is buying Credit.
• 16:23
  Speaker 6: Suiteze for roughly negative fourteen billion, right, it's paying the
• 16:27
  Speaker 6: three point two billion to Credit Suite shareholders, but only
• 16:30
  Speaker 6: because Swiss regulators are wiping out seventeen point two billion
• 16:34
  Speaker 6: of the bank's liabilities, leaving those bond holders with nothing.
• 16:39
  Speaker 5: Yes, the two thousand and look at this they like,
• 16:44
  Speaker 5: okay from even if you go the ticker's tot so
• 16:47
  Speaker 5: you guys can go look the bond market. The twenty
• 16:49
  Speaker 5: year bond was at one seventy nine to seventy. The
• 16:52
  Speaker 5: bond market is at one oh five. Last year got
• 16:54
  Speaker 5: to a low of ninety one bucks. They destroyed the
• 16:58
  Speaker 5: bond market, which is like the slow it's the safest
• 17:00
  Speaker 5: investment that you can't have. How do you destroy the
• 17:04
  Speaker 5: bond market and equities and real estate and crypto at
• 17:09
  Speaker 5: the same time. As soon as we get into it,
• 17:12
  Speaker 5: you think that just happened accidentally overnight by no, but
• 17:16
  Speaker 5: happens the is no. We need this the time. I
• 17:19
  Speaker 5: agree with Cramey. There are nuts staying no nothing. We
• 17:21
  Speaker 5: need full change. We need a full regime change from
• 17:25
  Speaker 5: top to bottom. This is unbelievable.
• 17:30
  Speaker 2: Man.
• 17:30
  Speaker 5: Shout out to JP, Morgan and Goldman and everybody. Y'all
• 17:33
  Speaker 5: got to make some changes. Though.
• 17:37
  Speaker 3: My graduates from my school being forced back drop drop
• 17:43
  Speaker 3: Mike drop backdrop.
• 17:55
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 17:59
  Speaker 1: in massagets an MS thirteen gang member from al Salvador
• 18:03
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 18:07
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 18:11
  Speaker 1: some of the heinous migrant criminals caught because of President
• 18:15
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 18:19
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 18:24
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 18:27
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 18:30
  Speaker 1: are here illegally, your next you will be fine nearly
• 18:34
  Speaker 1: one thousand dollars a day, imprisoned and deported. You will
• 18:38
  Speaker 1: never return. But if you register using our CBP home
• 18:42
  Speaker 1: app and leave now, you could be allowed to return legally.
• 18:46
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 18:51
  Speaker 1: border and families will be protected.
• 18:53
  Speaker 2: Sponsored by the United States Department of Homeland Security.