The Last Refuge Before getting to the details of the Credit Suisse issue, it is worth taking a bigger geopolitical context to the dynamic. The initial backstop sought by Credit Suisse was from the Saudi National Bank; however, SNB Chairman Ammar Abdul Wahed Al Khudairy refused more lending {LINK}.
This is where we need to keep the BRICS -vs- WEF dynamic in mind and consider that ideologically there is a conflict between the current agenda of the ‘western financial system’ (climate change) and the traditional energy developers. This conflict has been playing out not only in the energy sector, but also the dynamic of support for Russia (an OPEC+ member) against the western sanction regime. Ultimately, supporting Russia’s battle against NATO encroachments.
Russia, Saudi Arabia and China are geopolitically aligned in interest against the western financial system. As a consequence, when western banks find themselves in need of capital and cash, there is a layered geopolitical dynamic in the background to Saudi refusal that must be considered.
With multiple western banks now in trouble, Credit Suisse is also exposed, and, like U.S. Treasury/Fed intervention in America, the Swiss central bank has stepped in to backstop the looming collapse…
READ FULL ARTICLE HERE… (theconservativetreehouse.com)
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