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Title: European Bank Failures: A Bellwether for Another Imminent 2008 Financial Crisis?
Published: 2017-07-20
Source: https://www.youtube.com/watch?v=Eijc9aoTr-Y
Title: European Bank Failures: A Bellwether for Another Imminent 2008 Financial Crisis?
Published: 2017-07-20
Source: https://www.youtube.com/watch?v=Eijc9aoTr-Y
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European bank failures when did they go globally systemic who decides how do we just Sir but you thousand seven that you thousand and nine financial crisis was global in scope and most certainly not a one off store or bent borders are standing by so many of you ever seen anything like yeah that's a real strange here let's talk about the speed with which we are watching2/29
this market deteriorate what in the world is happening on Wall Street I have never live looked at the Dow Jones industrial who knows where this is going to end Attila the we are scene of course since way before you and I were born us almost everything there completely wiped out on the nasdaq everything and more has been completely wiped out the Dow traders are standing there3/29
watching in amazement I don't blame them Alberta market it was the worst day on Wall Street since the crash of nineteen eighty seven what started in America last year has now spread to every part of the world went down nine percent state is that banks over and Frank but is down by nine percent the Paris market down by nine percent Austria which was briefly suspended earlier4/29
on in the day is down by nearly eleven percent we're in the last days of this country surviving we sing triple digit swings in the stock market major financial institutions have teetered on the edge of collapse and some of failed we're in the midst of a serious financial crisis and the federal government is responding with decisive action it means deployed and end up by the world's5/29
central in private banks as well as their corresponding governments and other regulatory bodies ultimately served only to express Spokane's down the road the levels of both public and private god of the world standard unprecedented levels and it's only a matter on or possibly going to function of hill switcher three from somewhere on high with the hyperx list of financial powers and for another sip your prices6/29
takes place and one of the larger scale that that so when and how with this second leg as it were of an extended global deflationary cycle that's what events would trigger could such advanced incorrectly forecast let alone Brabant let's look at Europe recently pertinence for European banks have failed over the past eight you're going strong indications that another correct break maybe it these institutions were bongo7/29
popular Spain three Italian banks wanted it achieved yeah or and yes but not so pumped up and bark up lari if it sets but Millar was taken over by rival Spanish monk was content air with help from the your your and yes was taken over by the Italian government state and the latter two banks in Italy were also soon but well in order to slit their8/29
book good versus bad assets and liabilities between Italy's largest private bank and the client states that meanwhile Italian citizens will bear the approximately five billion to six billion euro media cost up these latter battalions went bailouts on top of their lost eight senior bondholders which you and by the Saudi government where did you and your creditors and the bank shareholders lost their shirts wired this water9/29
well breasts now the use of taxpayer money what happened at you and the sense of bailouts went against the provisions established by the European Commission and by the European central bank ultimately revealing the frantic states reached in conducting such emergency action despite lack of mission for banking government officials there were political reasons for hamlet went bailouts with such haste but also presumably reasons apartment each for10/29
a birdie systemic they're still rests for spike the former reasons tend to be emphasizing the mainstream corporate financial press the latter reasons apartment systemic risk not so much warning in early June of the potential for a systemic crisis Italian economy undersecretary itself stated that well the collapse of two regional banks in Italy's but natural reject would have triggered a systemic crisis that would embrace dragging down11/29
the old domestic Russell's that's got out of the way timber falling and especially by avoiding their first ride Aline which would have cost outright public panic this is all a mere hint of what's expected %HESITATION it both in Italy as well as other highly get late European Union you honor why for one monstrously unprecedented levels of private and public continental yeah the twenty clinician bank failures12/29
are consistently portrayed as small and that's relatively insignificant bats yet this ignores the systemic basis of breasts which set latent in many European Union financial us you're there to rebut it spin off balance you or as of the fall of two thousand six teen stock index of Italian banks and better Deutsche Bank in Germany which retains over forty six trillion that's with it he what a13/29
six trillion dollars worth Bros directed at risk exposure as well as questions regarding its solvents you had been moving in tandem despite Deutsche Bank and those Italian banks very different challenge if you were to look at the graph which you'll see in the explosive up it's that I'd written with regard subject you look at a graph of the performance of Georgia banks that as well as14/29
the collective of the Italian banking sectors performance you'll see that there's a correlation that's a little frightening or Deutsche Bank doesn't have the Italian banks is not forming long prop and yet why this correlated graphical chart will perhaps that's because Georgia bank is so risky CPOs Italy that an Italian banking crisis were eventually post contagion on a multiple sides of what happened two thousand and eight15/29
listen these banks are already zombie order or meaning that they're walking insolvent in real time mark to market sooner yet they're not officially bank up yet so what or better yet who could or would check the perceptual balance crisis mode during negotiations for bailing out of market it IQ bank Italy not only did JPMorgan in your walk weight but so did you prominent New York patch16/29
for fortress and Elliot both hedge funds essentially despite them being offered eighty per mark downs on much it achieves won't they nonetheless walked away despite that mark clearly I was not enough you attract such private investors Stan fault the bail then the government stepped in after these private that's that so what so can search government interventions continue under such rising duress and growing lack Sumer institutional17/29
oxidants or will that lack of confidence he used this excuses for it eventually well in funding support for banks that need to be solid as with the two thousand and seven that you thousand a night prices there is an inevitable widespread trans Atlantic shrinkage expected on the number of banks out there and not only by fiscal necessity but by longer term design as well it's such18/29
a game the largest global banks routinely stance your sign rearrange or outright back him up the assets of what are what expendable pangs games necessary to be calm in Europe the club mad or Mediterranean nations are seemingly more expandable and right for consolidation versus say German or French mega banks like me and you Arabah this site a generality rats or what your bank German was signs19/29
and execute such washed and rinsed cycle how frequently and while is the European Commission itself coat pass with such bank consolidation in how much had that you thousand and eight and internet financial price you serve or will serve for wider sweeping macros you keep Barrett and expected yet you believe amongst the west's largest bank our global financial governing bodies such as the I am after bank20/29
for international settlements Switzerland what extensive longer term international money order is being sought through this creative destruction bopping periodic trans Atlantic aspect solid age Italy's general banking sector and banking foundation is so fragile and a viable market for harmony interior rating credit so lacking that is not been able to off load it's estimated three hundred and sixty billion euro of non performing loans many of them21/29
with very weak any remaining collateral under and on average they're marks at around fifty cents on the euro Italy's debt to GDP ratio is inaccessible shocking one hundred thirty sat it's national youth unemployment is north of thirty seven sat with overall official unemployment at eleven point three percent is well over twice that of the official U. S. are and the labor force age rating it leads22/29
only at six five out of five hundred Italian banks a full one hundred fourteen or high risk meaning that they don't have enough capital to cover all the bad stuff on their books what would otherwise bush these banks over the cliff stanica bench records foremost by a direct its meltdown either within Italy or certainly elsewhere you're the opaque we define counterparty relationships between institutions which are23/29
traded their systemic risk could easily spread from Europe to the United States considering that despite announced governmental figures hanky economic indicators is generally healthy the state of the US economy is much worse off than advertised you ask that's balance sheet balloons from eight hundred sixty nine billion just foreign a half trillion dollars over the prior decade allow yet they're about to start tightening which will wreak24/29
havoc across market the US consumer debt picture isn't pretty either the fastest growing type Sir but lazy borrowing happens student loans credit cards in order for much at this these types of yet there is either no collateral as with credit part long or collateral value declines over time cars these latest iterations of financial engineering are not so stand up there's also a little to no wage25/29
growth in the US army chapter is not just consumption savings investment and yes debt servicing you talk on top of this your words are more reliant on credit and make their way anyway Italy's banking fiasco and dust easily in fact not simply its neighboring European Union honor but spread globally based on the very nature of modern global finances complexities but that's serious observer I chose required26/29
for truly making sense of all that's we'll extend well beyond surface level academic and even corporate prescribes tools you simply cannot take officially prescribed information on its surface as a and that wraps up our inaugural program money year with yours truly I. E. in this particular program this inaugural program is premiering and will be available to everyone see in order to see all the future programs27/29
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