World's largest asset manager blackrock just lost 15 trillion dollars today i'll talk talk about how the current market crash is impacting. These major banks and these major and why it will cause a wider collapse so stay tuned. And let's make some money and i want to dive straight. In with the key information.

So this article says that blackrock's aum or their assets. Under management fell by 11 in the worst start to the year in half a century larry think the ceo said the first half of 2022 bought an investment environment not seen in decades blackrock's aun fell to 85. Trillion dollars. In the second quarter of the year.

After topping 10 trillion. At the end of 2021. Now. What this shows right off the bat is even these major funds like blackrock aren't immune to the current market crash we have seen a number of hedge funds.

Blowing up recently over the last six months being liquidated and their entire fund being wiped out they may say tom this is only small reckless hedge funds going bankrupt after making stupid investments. But in fact even the largest asset managers and the largest banks on immune and they are losing trillions their overall fund did see net inflows from new investors over 70 billion. Dollars but yet the overall fund is down 15. Trillion.

When accounting for the giant losses. And it's not just blackrock that's experiencing these same problems goldman sachs profits have just fallen by 47 percent. The bank of america profits have also fallen by 32 percent and jp morgan has suspended stopped by banks and therefore gold. Telegraph.

Says that banks are starting to feel the pinch as well and as jan jack says jpmorgan's profits fell by 28 from last year blackrock is down by 30 bank of america down 32. Goldman sachs lost 616 million dollars trading stocks last quarter and morgan stanley's revenue fell by 55 as jan. Jack says high leverage and risky bets. Is sending the banks into extinction and this is exactly why i think that one if not multiple banks will end up collapsing during the coming financial crisis and the coming recession that is basically here already the us won't officially be in a recession.

Until the quarter two gdp figures are announced. But considering we saw shrinkage in quarter. One and we're likely to see shrinkage in quarter. Two that means we're already in a recession on top of that bank of america is expecting the next four straight quarters of negative gdp growth and therefore they're starting to think this could actually be a long drawn out recession lasting over another year zerohedge also tweeted these screenshots of goldman sachs results over the last year stating this is becoming a problem in quarter 3 of 2021 goldman sachs lost 820 million dollars in the fourth quarter.

They lost 500 million in the first quarter of 2022 down 620 million and the second quarter down 660 million. But what i find most interesting is during this entire period of their public stocks losing hundreds and hundreds of millions of dollars their privates seem to be increasing in value in the. Third quarter their privates increased by. 17 billion in the fourth quarter 19 billion in the first quarter of 2022 255 million and the second quarter 440 million now their private investments are going to be investments in unlisted tech stocks unlisted crypto startups and many other obviously unlisted stocks.

But hang on tom haven't we seen. These unlisted tech stocks and these unlisted crypto. Startups falling by over 90 in some instances and not increasing by. 17 or 19.

Billion dollars. And yes. That is absolutely the case we have seen giant giant losses in these private markets. But yet goldman sachs.

Just aren't recognizing these new. Valuations. Goldman is saying. Their privates are continuing to increase in value when yet their privates are likely down 80.

If not 90 in total when goldman starts to recognize the true value of these private investments. They'll likely be taking losses in the billions. I find it funny. How goldman.

Sachs are even stating the quarter. Two net revenues were significantly lower year over year. As macroeconomic concerns and the prolonged war in ukraine. Continued.

They're showing a 660 million dollar loss in their public investments. But yet still showing millions of profits in their privates. Which is obviously just being covered up and faked now on top of that bloomberg has just announced that apple plans to slow hiring and spending for some divisions next year to ease the impact of the economic downturn and guys. If you haven't already be sure to sign up to moomoo right now using the link in the description.

Below you can currently get 10. Free stocks worth up to 25 000. And a guaranteed free share of lucid on top of that moomoo is very easy to use it's incredibly customizable they've got tons of technical indicators and advanced charting tools on top of that from umu's latest customer agreement they officially state they do not benefit from your order. Flow and they do not sell your order flow to market makers like citadel or to clearing houses.

Like apex clearing in fact they clear their trades on their own through their clearing broker futo incorporated. Which does also not sell your order flow and therefore mumu is brilliant for buying those amc shares and i think all of this cumulatively is just showing that it's not just these small risky. Hedge funds. And it's not just these small startup.

Tech. Companies and startup crypto companies that are feeling the pinch. But it's actually even the biggest institutions. The biggest banks and the biggest tech stocks with these major tech companies slowing hiring and cutting their expenditure.

These major banks. Losing 30 40. Or even 50. And even blackrock losing over a trillion dollars.

It just goes to show that even the biggest of institutions on immune and are suffering massively and this is exactly why i foresee a lot more liquidations in not just these small hedge funds. But also in these large hedge funds as well and even some of the biggest institutions and the biggest major banks collapsing. As well no longer can we say that it's just small crypto startups and obvious pointy schemes that are collapsing and cutting hiring because in fact. We're seeing even some of the biggest companies like apple slowing their hiring process and cutting expenditure on top of that unusual wells tweeted.

Saying the winklevosses twins cryptocurrency firm gemini is firing people to cut expenses per coin telegraph. Now you may know that gemini is actually one of the largest and one of the longest running crypto exchanges that is also firing people and cutting head count to reduce their expenditure. It's not just these dodgy funds and obvious ponzi schemes like three arrows capital and celsius that are collapsing and reducing head count in fact. It's some of the largest cryptocurrency exchanges like gemini and like coinbase that are cutting staff firing employees and removing influencer promotion programs.

When platforms like coinbase block fire and gemini are removing these influencer promotion programs. You know they're struggling for cash because they can't afford their monthly marketing. Expenditure and now on top of that it seems tons and tons of employees are jumping from credit suisse. Even without their severance pay upon departure.

This article. Says that credit suite has found a way of cutting jobs without paying severance. The article starts by saying it's happening credit suite is cutting its credit trading team the ifr claims today that credit suite is cutting head count in its credit trading business. By 25 now again credit suisse isn't a risky crypto startup.

Cutting its head count instead credit suite is one of the largest major banks and one of the largest institutions. Cutting headcount by 25 now credit suite has twice cut severance pay in its existence once in 2008 and once in march of 2020. Obviously when the world was edging into a recession and edging into a pandemic. Considering that credit suite is once again cutting severance pay it does not show a good outlook for the current economy.

And it says here that headcount has already been dramatically reduced by voluntary exits. Which cost the bank. Nothing clearly tons of employees at credit suite are jumping ship trying to get out before the firm goes under. And it says insiders.

Say credit suisse. Probably has around 50 credit traders globally. But the us has been hit by a huge wave of resignations. It said all of the good people in the us have left and 70 percent of them have already gone.

I imagine many of these credit traders have been embroiled in illegal activity. That's obviously under investigation and that's why so many of them are jumping ship before people end up in jail. And finally macten tweeted. Saying.

What most people don't know is the nasdaq actually lost most of its value. After the fed started cutting rates back in the year 2000. And he said. Today's gamblers can't wait for rate cuts and every pundit is tripping over themselves predicting when they will come.

But considering the nasdaq didn't lose most of its value until after these rate cuts. Considering these rates are still increasing. It's likely we haven't yet seen the full extent of the current market crash. We can see here.

The fed actually started cutting rates at the very end of the year 2000. If not at the very start of 2001. But at that point. The nasdaq was still fairly high and was only down five or ten percent.

We can see the feds started cutting rates at the very end of the year 2000. If not at the start of 2001. But actually by this point. The nasdaq had only fallen by 30 and continued to fall down to negative 80.

Therefore the majority of this dropped this 50 portion of the drop actually happened after the fed started cutting rates. Not while the fed was increasing them. And this is why i think the current market crash in the current recession. Still has a long time to go.

And we're kind of just in this no man's land period. Where at the moment. The s p 500. Is up two percent in one day and then down three percent the next but as i've said i do expect this market crash to continue over the next few weeks especially during the next fomc meeting when the rates are increased once again.

But guys be sure to let me know what you think down in the comments. Below and as always guys be sure to ding that notification bell. Because that way you'll be alerted when i put a new video cheers.