iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,585 Blog Posts

After the Smoke Settles, Back to the Economy

Prior to the recent bank scare, people were fixed on inflation and whether we’d soft land or not. I’ll be going back to that, since the central banks have all but nationalized the banks again. I mean, that’s what they did, no? If they’re backing all deposits then the banks aren’t independent but vassals of government. They’re not even too big to fail. They’re small fucker banks and have weaseled their way into tax payer backstops.

Oil is being walked down. It is my belief the pressure is coming from the Russian Ural spot market which is now trading at $48 due to the war. In other words, India is buying it at spot price and swinging around to grab the Brent arb price from Europe. The world is awash in Russian oil.

The most bullish thing for oil will be the end of the Ukraine war.

On that issue, Xi is in Moscow talking to Vlad. Perhaps they’ll iron out a nice plan that’ll get rejected by Zelensky — who is under orders by Biden to execute another counter offensive soon.

Bottom line: it’s time to forget about bank flops and focus back on the economy.

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2 comments

  1. tradercaddy

    “.. Xi is in Moscow talking to Vlad.”
    Xi (He/Him/His) is in Moscow talking to Vlad (Impaler/She/Her/Hers).
    There, I fixed it for you.
    Don’t want the Pronoun Nazis to censor you.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. tradercaddy

    “.. Xi is in Moscow talking to Vlad.”
    Xi (He/Him/His) is in Moscow talking to Vlad (Impaler/She/Her/Hers).
    There, I fixed it for you.
    Don’t want the Pronoun Nazis to censor you.

    • 0
    • 0
    • 0 Deem this to be "Fake News"