Charlie Ward 3.19.23 – This Is Huge! ~ March 20, 2023


The accumulative debt levels consumer, corporate, commercial, and real estate, as well as the national debt, are beyond redemption. These fractional reserve exposures have been magnified by synthetic and exotic contracts that have no economic basis and are totally speculative! These magnify and obscure risk! They constructed a domino chain. Another factor that has contributed to the debt tsunami is the liberties of the accounting profession. Financial disclosures have been cooked! The corporate world’s power has become to concentrated. the principals of consolidation mask dynamics. Gatekeepers face moral hazard and have yielded their integrity! Another contributor is reliance on metrics. The pure quantitative schemes that have been incorporated into decision making. The quality of the underlying assets are not adequately evaluated. The symbiotic relationship between irresponsible bankers and borrowers. Bankers’ incentives are driven by “selling” loans. Generating loan volume that is then securitized in the market place. The banks do not internally hold the risk. The “shit” is packaged and sold as gold with attractive yields that attract buyers who do not have the financial capacity to backstop risk and rely on the ability to resale the paper. I could write an entire book on the flawed fundamentals of the industry! This forum has limitations on the number of characters allowed.

The prevalence and reliance on funds generated by illegal activities looms large relating to deposit, lending, and investment banking activities . The relationships between rating agencies and corporations are symbiotic ! The corporations are the pay masters! The relationship between regulators and the banks is symbiotic ! When egregious practices are brought to regulatory field examiners attention, together with tangible support, the regulatory chain of command edits this out of reports. If identified, the penalties are minuscule. Often the solution is to terminate low level employees who were by design are inadequately trained. Management maintains a structure of plausible deniability!!!! Internal controls are a joke! The sales side has all the power. If one is responsible and has a sense of fiduciary responsibility, they are driven out! To survive a banker has to tell management what they want to hear. The wheels came off the track with the merger of commercial and investment banking! This was magnified by the concept of too big to fail coupled with institutional investor ownership interest!!! While current Industry degredation tracks back to 1971, banks’ criminal activities date back to 1913. Fiat currency has no limitations. Just crank up the printing press (just a few strokes on a keyboard)!!! Clearly, the answer is not continuing this cycle The Federal Reserve is a criminal endeavor! Do not accept the Central Bank Digital Currency!


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