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longgowhereto's avatar

I received an 3.6% offer from HSBC for new money. So the money which is already there is of no use - too old maybe. As I never read before the term "new money" I thought "the Anglosaxons again..." - but in Germany my bank does the same (translated): "This 6 months offer is only valid for NEW MONEY". There are these many new terms: New money, turbo cancer, sudden death syndrom and we swallow them as if normal. Merry Christmas!

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David Jensen's avatar

There is a liquidity crisis building in China and in Western banks too but in the medium/small bank sector. HSBC Canada has just been sold to RBC. That may be another sign of HSBC trying to sell assets / generate capital. The fractional reserve musical chairs game is coming to an end and all the bankers are rushing to sit down as they can see there are way too few chairs.

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jeremy1113's avatar

Holy moly.

No wonder Powell pivoted 180 degrees.

Looks like something big has broken.

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