Indian banks are likely to not face the same ALM (Asset Liability Mismatch) crisis that has gripped a few US banks and Credit Suisse. If you haven’t read our previous article on the main issue plaguing the western banking system (https://arunasset.com/svb-bank-collapse-whats-asset-liability-mismatch/), then we suggest you do so before going ahead with this.
Silicon Valley Bank’s failure is the second largest bank failure in U.S. history, Washington Mutual Fund being the largest in 2008.
The catastrophe was not driven by credit problems but mismatch of assets and liabilities.
On 25th January, short-seller Hindenburg Research published a report beginning a series of well planned and co-ordinated attacks on the Adani Group.
Soon enough, George Soros the 92 year old speculator billionaire joined the issue of attacking the quality of India’s democratically elected polity. Best known for his attack on the British pound in 1992 he has since used his billions to fund political and public causes in more than 120 countries around the world. In 1997, he made huge bets against the Thai and Malaysian currencies and precipitated the Asian financial crisis that brought down economies of Indonesia, Thailand, South Korea and Malaysia. This also brought about regime changes in some of those countries. Soros is hoping that the Ukraine war will bring down Putin and Russia. With national elections round the corner, Soros is also hoping that such coordinated attacks will bring in a regime change in India.
Life was cruel for a has-been Bollywood starlet. Her days were numbered. Add to the misery was marriage to a benami NRI businessman who was down to producing/directing trash short films. Now, meet a couple posing to be early-stage investors on a popular TV channel who are supposedly blessed with business acumen and foresight and are in tight with a few VCs. Together with the starlet, they plan a heist.
The FTX story has a bit of everything. Fraud, greed, lust, political connections, a relatively new concept in cryptocurrency, wealthy families, large financiers considered “masters of the universe” (we have them in India too!), suckers, Bahamas and multiple other locations of business subsidiaries. That’s not to mention the employees and average investors who’ve been caught up in the downfall. Also, the lawsuits and court drama which are no doubt to follow. Knowing America, books and movies on the subject will already be in the offing.