Preparedness Notes for Thursday — March 16, 2023
A Special Note From JWR to SurvivalBlog Readers: The Credit Suisse collapse has many analysts predicting a general credit market collapse in Europe. The sticking point, at least at the outset of this mess, will be Credit Default Swaps (CDSes.) Those are derivative contracts. The counterparty risk for banks, trading partners, and customers engaged with Credit Suisse is now off the charts. But that may be the case with the majority of European banks, within a few days. (BNP-Parabas, HSBC, Barclays, Société Générale SA, Banco Santander, Deutsche Bank, Lloyds Banking Group PLC, ING Bank, Standard Chartered, UBS, Rabobank, Commerzbank, Svenska …