Halturnerradioshow: About 6 hours ago, on a cloudy Sunday afternoon, weekend before Christmas eve, the Treasury Secretary Steven Mnuchin briefly interrupted his vacation in Cabo, San Lucas to PERSONALLY call each of the General Executive Director of the six major banks of the United States:
- Bank of America;
- Goldman Sachs;
- JP Morgan Chase;
- Morgan Stanley;
- Wells Fargo.
The leaders of each of these banks confirmed that “they have enough liquidity for lending to consumers, business markets and all other market operations. They also assured the Minister of Finance that markets continue to function properly.”
The last time the Minister of Finance of the USA has taken the trouble to ring the CEO (Chief Executive Officer – senior management position) leading banks in America, happened one night in 2008 year, the morning after which we had a collapse and the collapse of the us banking system.
Tomorrow morning (Monday 24 December), the US Treasury Secretary must convene a meeting of the Presidential working group on financial markets (President’s Working Group on financial markets), which he heads.
This group includes the Board of governors of the Federal reserve system, the Commission on securities and exchange, Commission on trade in commodity futures. Steven Mnuchin also invited to participate in the meeting of the Comptroller of the currency and the Federal Corporation of insurance of deposits. These key regulators to discuss coordination efforts to ensure the normal operation of the market.
It seems that now it becomes quite clear why the President announced the return of U.S. troops from Afghanistan and Syria, why ALL the carriers (except two) returned to the ports with their combat groups.
A few minutes ago my son went to the nearest ATM and withdrew the maximum amount of cash from our accounts. It’s not much – only $ 700. And I think you should do the same. NOW! RIGHT NOW.
Then we refueled our vehicles (until the loan is still running) and now I go to the supermarket for canned food, what time to buy and semi-finished products.
The fact that such a phone call as I had a place to be horrified, because such calls can only come from bankers themselves! It is very possible that it was a final warning and we have only a few hours of normalcy. So it’s better to prepare cash – that at least within a month you could survive.