Hello, fellow, Robo Capital, so we have more news in private credit.

It seems like every single day I'm doing a video on private credit, but there's reasons to.

We have Deutsche Bank and Morgan Stanley, now saying that they have direct issues involving what is effectively subprime lending, whether it's to a

mortgage or whether it's to some toxic sludge, whether it's to tricolor or first brands

or some software company that's never ever going to make money. The net result is still the exact same.

So let's dive into the details. And as always, let's try to combine all of the facts that we have,

look at all of the data and determine if this is going to be systemic. Is this going to lead to a

GFC type of crisis or maybe just an economic contraction,

maybe just a credit crisis that isn't a global financial crisis? Who knows? The bottom line is,

in my view, we are only an inning four or five here. This is not inning nine. And this isn't something that you just

sweep under the rug and it just goes away magically. This likely gets a hell of a lot worse

before it gets better. So let's dive into, where do we start for heaven's sakes? Let's go over

to zero hedge. And we're going to look at Deutsche Bank.

So Deutsche Bank dumps after, we're talking about their share price after flagging 30 billion

in exposure to private credit. And like I've said in a lot of my videos recently, it's not just

the $30 billion. That's just the tip of the iceberg because you have to look at what

this does to global liquidity in the monetary system. And liquidity is just basically a proxy or

derivative of risk. So when you're looking at this $30 billion in exposure to

private credit with Deutsche, just ask yourself a question. Does this increase perceived

counterparty risk or does it decrease perceived counterparty risk? And if it decreases it,

then you have your answer.

Liquidity has dried up.

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