I have a good friend who is of significant stature at a major international investment bank in New York City. I trust his knowledge and professional judgment on matters of finance and banking a great deal. Straight shooter. I asked him if news that Chinese banks were told to halt lending to US banks is the opening move to a run on the US dollar and complete collapse regardless of what Washington does or does not pump out.
His response: “We’re going to be OK. More detail to follow…”
You may not know him and thus take it with a grain of salt, but I do know him and those few words in a week that must seem like a single endless 96-hour day added back a couple of the years of my life lost during this week.
Significant enough that I think it is worth sharing here, especially as we see Senator Shelby emerge from the White House meeting with a ‘deal’ apparently no closer than the beginning of the day.
For what it’s worth.