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The Rolling Bank Crash Journal: Development of Implosion
• Another US bank (First Republic Bank) - 3rd in a row - is seeking support from the state... only 30 billion dollars
• Credit Suisse over night: "Credit Suisse is being sued by US shareholders for concealing the actual situation of the big bank. Since this is happening in front of a court in the USA, a large fine is expected."
The Rolling Bank Crash Journal: Development of Implosion
• Credit Suisse might (upon Swiss and US news channels) getting split up:
- the core part (Swiss CS company) will be taken over by UBS under survey by the FINMA
- the international companies might be taken over by US banks
The Rolling Bank Crash Journal: Development of Implosion
A very personal story from within the TEMPLE of Credit Suisse aka Schweizerische Kreditanstalt (SKA)
Yesterday I was in town to hand over some private invitations for a larger event. (Hence no trade!).
I entered the holy temple of Credit Suisse and went to the reception: 2 Ladies. I handed over (like every year) the invitations. Then I told the ladies that I can NOT give free entrance tickets - just the invitation. BIG EYES! "Why"? 'No free lunch for scammers' I told them. More BIG EYES. "Really?" they asked. "Yes" I told - I was a ancient client and very ashamed of what is going on with this honorable bank existing for 167 years.
I told them that I can not provide a management with free tickets as they want to tear out money from my pockets - even as a tax payer. No chance!
The 2 ladies were not aware that they could be kicked out of the house within the next days - as they had no clue what their management was doing right now.
AMAZING - isn't it?
Well - they will find out! Very soon.
GFIs1
This story might be vanished in a short time.
Yeah - some followers know exactly of what I am talking...
Happy weekend!
The video was made by 2 'connoisseurs' who do not disclose any facts. Not even the age of today's Credit Suisse nor the shares of the Saudis, which were specially paid out: "I don't know!".
The worst lie is a takeover of CS by the Swiss National Bank. This is not even possible under Swiss law. Why?
The Swiss National Bank is not a public bank for the people but a state bank for the distribution of loans and securities to Swiss banks.
Case of UBS 2008: The largest Swiss bank had to be rescued by the state. This was done through credit lines and money from the coffers of the Swiss National Bank. The National Bank itself never became the owner of UBS. Not even on a pro rata basis. Moreover, the citizens are obliged to pay (e.g. higher inflation / National Bank determines the interest rates). Even in the case of Swissair's bankruptcy, the National Bank was never directly involved.
Conclusion of the video: Very Weak!
The Rolling Bank Crash Journal: Development of Implosion
Credit Suisse - The Facts and History as per March 19th 2023
Schweizerische Kreditanstalt (SKA), 1856
On July 5, 1856, Alfred Escher founded Schweizerische Kreditanstalt (SKA) - today's Credit Suisse - together with Allgemeine Deutsche Kreditanstalt, which held 50% of the equity capital,[29] thus making Zurich Switzerland's leading banking centre and business hub.
In 1996, CS Holding and Winterthur decided to enter into an alliance in order to develop joint sales opportunities for their products. In 1997 CS Holding became Credit Suisse Group with four business units: Credit Suisse, Credit Suisse Private Banking, Credit Suisse First Boston and Credit Suisse Asset Management (real estate management).
Significant shareholders March 2023
Positions over 3% in Credit Suisse Group AG (shares and purchase rights)
- Saudi National Bank: shares 9.88
- Qatar Holding LLC: shares 5.03 %
- Qatar Holding LLC: shares 5.03 %
- Olayan Group: shares 4.93 %, purchase rights 0.07 %
- BlackRock, Inc.: shares 3.97 %, purchase rights 0.99 %
The big bank employs 50,480 full-time equivalent staff (as of the end of 2022), of which 16,700 are in Switzerland. The bank manages CHF 1294 billion in assets worldwide (as of the end of 2022).
As the video (above) was from Thursday, it is no longer up to date.
Today's state of knowledge:
The two banks UBS and CS were urged by FINMA (market supervisory authority) to negotiate over the weekend on the measures in Switzerland. It is imperative that the result be available before the stock exchanges open tomorrow, Monday, in order to bring the turbulence on the market under control.
The aim is to hand over Credit Suisse (Schweiz AG) to UBS. Price CHF 1?the SNB will guarantee credit lines to UBS for this act.
The other parts of CS, in particular investment banking in the USA, will have to be negotiated in further steps.
Currently, the jobs in Switzerland are at stake: more than 10,000 CS bankers in the canton of Zurich alone are affected by the layoffs. These are very high earners who, if they lost their jobs (there is no possibility of placement), would no longer pay taxes in Zurich and Switzerland, which would be a disaster for the whole country.
UBS does not want to take over CS because of the hidden risks. However, this can be positively favoured with good support from the SNB for legal costs, etc.
The result on the emergency negotiations of both parties are not yet available today 8:00.
The Rolling Bank Crash Journal: Development of Implosion
Credit Suisse crisis - Business editor Reto Lipp: "An earthquake is looming in the financial centre.
A current report from the national TV station SRF:" (German)