It’s plain and simple. Across the globe, there are more and more forecasts for rising interest rates and more fears of recession. In this 44 of our job-cut report, the biggest job cuts are from the UBS banksters who are ready to fire some 35,000 Credit Suisse employees following its emergency takeover of the bank.
More banks will merge this year as their costs rise, operating margins shrink, and other institutions offer higher interest rates to depositors, U.S. treasury secretary Janet Yellen said at last week’s conference in Paris on global debt and climate issues.
The Bank of Japan (BoJ) held its key interest rate at -0.1 percent last week, continuing to defy the trend set by most other developed economies to raise rates to combat inflation.
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend... which hit record highs during the COVID war when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies. Now M&A activity has slowed to a trickle as we have continued to detail.
After a five-month pause in rate increases, the Bank of Canada (BoC) lifted its key rate on 7 June from 4.50 percent to 4.75 percent, its highest since 2001.
Nations’ bank overseers must increase their budgets dramatically to step up supervision in the wake of March’s twin collapse of Signature and Silicon Valley banks in the U.S. and Credit Suisse’s failure in Switzerland, the Bank for International Settlements (BIS) said in a statement last week.
First Republic Bank, which has teetered on the edge of failure since Signature and Silicon Valley banks collapsed in mid-March, was seized by regulators on 1 May.
For those of you who may not know, I am going to let you in on a nasty secret. THE POWER OF ANY GIVEN CENTRAL BANK RESIDES IN ONLY ONE THING, AND ONE THING ONLY… ITS ABILITY TO INFLATE.
As the banking crisis continues, each week we will provide Trends Journal subscribers with an overview of the current events forming the future banking crisis trends.
Let’s cut right to it. The breaking down of the world financial system is continuing to pick up speed and energy, and it is by no means an accident.