This week’s episode features geopolitical and natural resource commentator Paul from the Sirius Report in conversation with host Adrian Pocobelli. Paul explains why the Global South is becoming increasingly skeptical of Western positioning and policies.

https://t.co/ote0PcCbLp

For the remainder of this year and going forward the clowns in the fintwit world are going to expose just how clueless they are. Sadly for some, this means finding out their heroes were charlatans.

Clown show continues and this is a good one:

US Treasury Dept has decided now in its infinite wisdom to review US banks exposure to Credit Suisse.

US And Russian Defence ministers held a phone call.

Probably asking for their drone back.

Significant liquidity strain in UST markets and because of the massive manipulation to try and suppress bond yields.

As they keep trying to fix problems, they only succeed cause more fractures in the financial system.

Clown show winner:

There are three countries in world with hypersonic missiles, China, Iran and Russia. Weapons we in the west have no defence against and are currently the three nations we in varying degrees are threatening the most or waging a proxy war with at this time.

Currently there is a relative calm in Yemen. It remains tense and not without sporadic acts of violence. An official truce is within grasp. Hopefully this can be achieved very soon and then the war is ended. Saudi and Iran, the ball is in your court. Make it happen.

Clown show continues:

After Brussels via Russian sanctions continues to cause deindustrialisation of Europe, it now wants to rollout its Green Deal Industrial Plan in earnest designed to ensure EU is a pioneer in cutting carbon emissions and technology to achieve these aims.

Swiss regulators are unsurprisingly prepared to do whatever it takes to support Credit Suisse, if necessary.

Zakharova in brutal mode:

To John Kirby wrt US drone in Black Sea.

John, ask NY Times for phone number of private Ukrainian company that US propaganda says blew up NS pipelines. They are, judging by your papers, deep-flying specialists. They will get it for you.

Clown show never ends:

Whilst the UK keeps trying to flex its muscles wrt Ukraine war it turns out they are considering reducing the size of their already ridiculously understaffed armed forces.

The implied volatility in US Treasury yields was last this high in December 2008.

There are clearly liquidity issues. Trades were taking minutes to complete, instead of seconds.

Nothing to see here:

BoE spoke to central bank partners last night and has reportedly also been in touch with Credit Suisse and the Swiss National Bank.

Progress already:

Iran has agreed to stop arming Houthis in an agreement with Saudi wrt the Yemen war.

Despite the fact that the SNB will loan up to 50bn CHF to Credit Suisse, their 5 year CDS has spiked to over 1000bps.

The Export-Import Bank of China together with the Saudi National Bank, the largest bank in Saudi Arabia, have agreed a yuan denominated loan between the two parties.

So ECB raises interest rates by 50bp.

Western leaders talk about the financial system akin to claiming a patient in the ICU is perfectly well.

Switch of the endless QE/bailouts/repos etc etc and it would collapse in the blink of an eye.

US throwing their toys out of the pram, once again:

US senators introduced a bipartisan resolution to force a report to be prepared wrt Saudi Arabia's human rights record which could possibly lead to a reassessment of US security assistance for the kingdom

Whatever it takes:

The Fed’s balance sheet grew by about $300bn in the past week.

The fragility in the US banking system is self-evident.