The risk of default for Credit Suisse is at its highest level in a decade. If it fails, many more overleveraged and failing banks could follow in its footsteps, setting off a domino effect. Is now the time for Bitcoin?
Credit Suisse At Risk of Failure
The edge is thin for Credit Suisse. Its interest rate on credit default swaps increased by 6 basis points to 2.47%. The market is losing faith in the bank’s ability to survive, as evidenced by the identical swaps starting the year at 0.57%.
The price of Credit Suisse fell 3.27 percent on the day on the New York Stock Exchange, and the price of the Credit Suisse Group has dropped by 63% since mid-January.
Ulrich Körner, CEO of Credit Suisse, attempted to address the extreme hostility surrounding the company by referring to the “many factually inaccurate assertions being made.”
Ulrich Körner, CEO of Credit Suisse, attempted to address the extreme hostility surrounding the company by referring to the “many factually inaccurate assertions being made.”
Körner discussed the bank’s restructuring plan, which included layoffs, asset sales, and a request for additional funding from investors, in the UK edition of the Guardian.
A Terrible History
However, the same source claims that the bank engaged in some seriously dubious business practices, including paying fines for bond issue fraud when some of the proceeds were transferred to Credit Suisse bankers.
Crypto Has Been Ruined
The statements of bankers and others about how cryptocurrency companies are unreliable, unsafe, and locations for different scams and wrongdoings will always be published in the mainstream media. Despite the evident transparency, innovation, and enormous benefits that many initiatives bring to the table, crypto is typically painted with the same brush.
How The Real Banking System Operates
They never seem to bring up any of the much worse incidents that frequently occur in the conventional banking system, though. Most individuals would find it difficult to believe how badly this system has failed the populace.
The world is blissfully unconscious of what is happening, and the entire system is governed by bankers for bankers. Who would believe, for instance, that when a bank issues a loan, the full amount is created out of nothing and that the bank then adds interest that is typically at least the same amount as the loan?
Before it completely collapsed, the bankers used this system to the farthest extent. The final shot is central bank digital currency (CBDCs). If these can be implemented globally, bankers will be able to micromanage every person, giving them total control. Slavery on a full financial scale is possible.
Bitcoin Is The Solution
The solution is Bitcoin. It is a form of money that may be held and used without the involvement of banks or governments. The mainstream media has done a good job of maligning Bitcoin and all other cryptocurrencies, but everyone who is concerned about their financial future should learn more about the banking system as well as the cryptocurrency sector, especially Bitcoin.
The mainstream media has done a good job of maligning Bitcoin and all other cryptocurrencies, but everyone who is concerned about their financial future should learn more about the banking system as well as the cryptocurrency sector, especially Bitcoin.
During the 2009 financial crisis, when the world’s economies were on the verge of collapsing, Satoshi Nakamoto created Bitcoin and included the Times front page in its genesis block. “Chancellor on the brink of a second bailout for banks,” the headline said.
These are the same institutions that have the ability to print money at will, thus the fact that taxpayer money was used to save them speaks volumes about how flawed and rotten the current financial system is.
