The banks are performing according to my expectations:

Credit Suisse wasn’t doing well before, and now it’s basically fucked:

Credit Suisse Sparks Global De-Risking After Top Investor Bails (ZeroHedge)

On Wednesday, Credit Suisse Group AG’s shares reached their lowest point ever, dropping by as much as 10%. This is the eighth consecutive session of decline, which comes in the wake of restructuring issues, delays in submitting its annual report due to ‘material weakness’ flagged by the SEC last week, and a broader industry selloff following the collapse of Silicon Valley Bank. In addition to these challenges, the troubled Swiss bank now faces a new problem: its top shareholder has said they will not invest any further due to the sharp decline in valuations.

“The answer is absolutely not, for many reasons outside the simplest reason, which is regulatory and statutory,” Saudi National Bank Chairman Ammar Al Khudairy told Bloomberg TV in an interview on Wednesday.

That was in response to a question about whether Credit Suisse would receive fresh injections if another liquidity crisis emerged.

Saudi National Bank, which is 37% owned by the kingdom’s sovereign wealth fund, is Credit Suisse’s largest shareholder as of late 2022 after acquiring a 9.9% stake. Al Khudairy said there are no plans at the moment to take the stake over the 10% threshold because of regulatory hurdles. In the last several months, since the bank’s equity has been on a waterfall lower, the Saudis have lost more than 500 million francs on their position.

The news the Saudis are perhaps done supporting the troubled Swiss bank sent shares down as much as 25% to a new record low in Zurich.

I have nothing new to add in terms of my recommendations; basically, the banks are going down, the fiat currency system is going down, everything based on America and the Dollar is going down, what follows is extreme turbulence and insecurity, the lemmings are going down the cliff.

You know what I think is a good idea. 🙂