bank

Via The Daily Bell

Banks are supposed to be the epitome of secure. You can put your money in their vaults, and forget about it. Don’t worry everything will be fine. And even if the bank goes under, the federal government insures deposits of up to $250,000.

But that won’t help if the government is the thief. The United States government can freeze your bank accounts for basically no reason, without due process. Then it is up to you to prove your innocence.

Update: on Tuesday, Deutsche Bank said it had responded “promptly” to request from U.S. Democrats seeking information from the bank on its client relationship with U.S. President Donald Trump, a spokesman said Tuesday.  It added that the bank can’t comment on individual client relationships and supplying information about relationship to external parties would be violation of law, spokesman says

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The first time JPMorgan warned of market downside was in early March when the bank's US equity strategist Dubravko Lakos-Bujas wrote that while the fundamental backdrop remains supporting, the "short-term downside risk" in the S&P is increasing. Less than two months later, JPM presented six "red flags" why it is starting to sell stocks.

Having told its employees "don't panic" over the weekend (at the crashing stock and bond prices of Spain's 6th largest bank), it appears investors are ignoring that message as Banco Popular's credit curve has inverted for the first time since 2012 in the biggest red flag yet that Spain's banking crisis is systemic and about to test the EU's bail-in laws.

Banco Popular Chairman Emilio Saracho sent a letter to staff assuring them the bank remains solvent after Friday's stock crash, courtesy of Expansion, google translated:

by JS Kim, Founder of SmartKnowledgeU and skwealthacademy, this article was first posted at smartknowledgeu.com/blog on 1 June 2017.