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Banks are scaling down commodity trade finance
[The only thing that Markets can't self-regulate is irrationality].
[Swiss Banks will still exist in 400 years but banks in Asia* it is less certain as they emit documentary credit paper, l/Cs for Trading entities pushing the limits of the swag-on with 25:1 leverage and creative accounting].
[The weak and the wickened will be revealed but it's not only related to the commodity prices slump macro-context.
The simplest way possible to describe what's coming is a combination of non performing loans for commodity finance related exposures and a huge Scam in the commodity trade finance in China]
[Be assured that when Geneva steps back from commodity trade finance it's because of risks NOT on competition].
*including the subsidiaries of major international banks doing business in this region.