Frankenstein's Balance Sheet
Added 2020-05-13 23:01:01 +0000 UTCThere's a ticking time bomb in the economy. No, a DIFFERENT ticking time bomb. This week, Riley, Milo, Hussein, and Alice discuss the balance-sheet chicanery of a mysterious Australian plane enthusiast that is slowly but surely imploding every SoftBank investment vehicle. We would normally say it's a laugh riot, but this one... maybe not so much.
Comments
Listen, I stopped doing LSD and just started listening to this episode on repeat. My third eye(s) is/are squeegied QUITE CLEANLY.
Patrick Lopez
2023-08-05 15:55:42 +0000 UTCThis is my Trashfuture entry episode
William Bell
2021-10-30 14:15:33 +0000 UTCWhere do you guys get the resources to research on this? How can I look into Greensill and other things and open my triangle-shaped third eye?
Sapphic Hivemind
2020-07-16 02:12:27 +0000 UTCSo Nav Sarao never sent emails he was a futures prop trader, who used a somewhat spicy strategy of spoofing the market, he was blamed for the flash crash, which he alone is extremely unlikely to have caused. stitch up. Reverse factoring's an interesting one, it's got a lot of hallmarks in common with the credit crisis: hidden risk in the shadow banking system, opaque markets, illiquid balance sheet items being used as collateral,off balance sheet shenanigans, ratings agency moral hazard, fragility of interconnected global trade finance. factoring and reverse factoring are a way for banks, insurance co's and shadow banks to stick intermediation where the sun previously hadn't shone. what it doesn't have is the accelerating scale of derivatives (afaik) or the need for the rate of geometric growth that the us bubble was built on. to be the same size as the credit bubble roughly 80% plus of trade would have to be intermediated, and rehypothecated in the way vodafone was doing. not to say it won't create problems for individual names in the future, which shorts like muddy waters are using to good effect, but might need a couple more ingredients to get to the same level as the credit crisis. good episode to subscribe for, really enjoy your podcast. your aussie accents are.
Tanaka Nhongo
2020-05-20 00:31:18 +0000 UTCI dont actually think that the line etc is divorced from reality. I think its just betting on another thing that you guys talked about some time ago - its the reality of merchant princes. The transfer to the wealthy now is so big, the fall of the state so apparent that i think its a huge test of the future. The line now only serves the 5 people, but it serves to extract even more resources. And ofc none of this is planned and those guys probably arent even aware of it but i feel that the way the line behaves now, and the processes around it make it not divorced from reality but reflecting a new one. Sure, none of the money there is real and they will go puff very soon but the show of power for me is real and the line serves just to show that.
Kuba Danecki
2020-05-17 10:20:31 +0000 UTCAll of my family lore about the Einsatzgruppe shit in the frontier wars starts with sentences like ‘so your pardies great uncle went up to visit cousins in queensland’ Would it shock you to know that Queenland Sugar Farmer probably means that one of Lex Greensill‘s ancestors was commissioning slave raids on Melanesia as late as the 1890's.
Maggie+Al
2020-05-17 01:56:07 +0000 UTCyeah my first and pretty much main thought here has been that covid + "hey guess what probably most of the economy is propped up by gambling on supply chains" = imminent collapse when?
WHAT THE PLANTS CRAVE
2020-05-16 03:43:36 +0000 UTCThen rebrand to “TF Bank” so as to conceal the creepy, like Toronto Dominion —> TD
John Harwood
2020-05-15 14:12:04 +0000 UTCI mean, not really - because the problem isn't *this* particular type of shoddy lending, it's the sphere of activity in general. Greensill is a symptom!
Trashfuture
2020-05-15 08:35:23 +0000 UTCif there were ever an episode to unlock, it would be this one
Alanna
2020-05-15 06:57:02 +0000 UTCHoly shit
Juliannek
2020-05-15 04:09:33 +0000 UTCso basically if you regulate this gadget into being a real bank and the fake debt as accountable as debt you instantly solve the problem?
etienne
2020-05-15 02:59:21 +0000 UTCI’ve listened 3 times and still doesn’t get any less insanity inducing
Izak Kennedy
2020-05-15 02:13:04 +0000 UTCI feel like the financial sector squeezed my brain between its meaty thighs
A sudden absence of bees
2020-05-14 21:21:55 +0000 UTCGood episode, something to add about where the money comes from. There not creating the money out of thin air, there effectively creating the money on there predicted exploitation of future labour. wonder how covid is effecting that.
Todd
2020-05-14 15:24:32 +0000 UTCyou should call your bank: Trash Futures
Johan
2020-05-14 12:01:12 +0000 UTCAlso the reason this creep likely owns so Many planes is because it is a classic accounting trick for airlines to lease planes without owning them to make their debt look like an operating expense Based on his other leveraging he probably rents out the planes that he bought on some weird collateralises credit without having paid them down yet. Leased aircraft are a classic redflag for accounting fraud
Benjamin Senn
2020-05-14 05:29:08 +0000 UTCReally interesting episode guys. Gotta aay your insights on softbank are better than most financial journalists.
Benjamin Senn
2020-05-14 05:20:40 +0000 UTCthis episode was lean & mean 🤘
Feedbag
2020-05-14 05:06:36 +0000 UTCI'm shuddering.
Jane Pickering
2020-05-14 01:14:36 +0000 UTC
