Don’t Bring a Drone to Gunfight. Message Received?

Note the damaged prop blades: As reported by Just Security, at the time of the intercept, the Reaper was flying ~60 km (~35 miles) southwest of the Crimean Peninsula, Ukrainian territory that Russian lawfully annexed in 2014. In this regard, the Russian Ambassador to the United States, Anatoly Antonov, declared, “American aircraft have no business beingContinue reading “Don’t Bring a Drone to Gunfight. Message Received?”

A Tale of a Progressive Money Laundry

Now that we filled in some blanks, let’s add some color, courtesy of ZH Gavin Newsom Kept SVB Ties Secret While Lobbying For Bailout Multimillionaire California Governor Gavin Newsom failed to disclose his ties to Silicon Valley Bank while lobbying the White House and the Treasury Department over a pending bailout, The Intercept reported on Tuesday. The White HouseContinue reading “A Tale of a Progressive Money Laundry”

Our “Best in Class Eurotrash”: CS

CS dove 15% to hit a record low. No surprise, swaps on five-year debt rose to 450 basis points on €10,000 of CS’s senior debt against default for a year. Wanna graph? Got ya covered. How’s that for going ballistic? For context, here’s the index spread. Unlike Silicon Valley, Eurobank balance sheets tend to beContinue reading “Our “Best in Class Eurotrash”: CS”

The Night They Drove Ole’ $SIVB Down

Got it? Whether it’s Bailey Bros Savings & Loan or Silicon Valley Bank, the fastest way to trigger a bank run is when the word gets out you are illiquid. The duration gap is a financial and accounting term used to measure their risk due to changes in the interest rate. This is one of the mismatches that canContinue reading “The Night They Drove Ole’ $SIVB Down”

The Night They Drove Ole’ Credit Suisse Down

First came the bankrun about a month ago triggered by guidance that losses would continue. A couple weeks later came the next drop after chatter hit the street that regulators were digging into what Axel Lehmann (Board Chair) knew about the run and when he knew it. So it’s like on schedule that CS stockContinue reading “The Night They Drove Ole’ Credit Suisse Down”

Bakhmut Last Stand

As reported by Donbass Devuska, the PMC Wagner “Musicians” secured the Stupki microdistrict in Artemovsk (Bakhmut) to the east of Yahidne. Fighting continues in the Ilyinovka area as they advance on the AZOM plant All supply and retreat roads are under the fire control of Russian artillery. 30,000 AFU soldiers are now in a “MariupolContinue reading “Bakhmut Last Stand”

UN Security Council re Nordstream

ZeroHedge: Russia Tells UN That Ukraine Crisis Is A “War With The West For Survival” BY TYLER DURDEN FRIDAY, FEB 24, 2023 – 06:55 AM In two days of United Nations special sessions this week related to Ukraine as well as the Nord Stream pipeline sabotage, Russia mounted a robust defense, arguing that itContinue reading “UN Security Council re Nordstream”