Feb. 24 at 6:14 PM
$GDX $GLD $JNUG $SLV $B
❌The Phoenix Fund LLC files for chapter 11 protection in Puerto Rico❌
➡️Financial Snapshot (from the bankruptcy petition):
Total assets: ~
$565.9 million.
Total liabilities: ~
$400.9 million.
Secured debt: ~
$139.5 million.
Unsecured (non-priority) claims: ~
$261.4 million.
Number of creditors estimated: 1–49.
Private credit continues to implode. This could be the trigger for a much bigger drop in the markets. Charts are already signaling something coming. Treasury secretary Bessent says "we are concerned".
All they need is the catalyst & they flood the system w/liquidity. The rules go out the window if its to "save the system"
Floating rate share: ~80–95 %+ of private credit loans are likely floating rate. This means,
$4 trillion private credit total in this sector, that suggests roughly
$3.2 trillion–
$3.8 trillion in floating rate loans. ZIRP coming
https://www.inforuptcy.com/browse-filings/puerto-rico-bankruptcy-court/3%3A26-bk-00712/bankruptcy-case-the-phoenix-fund-llc?utm_source=chatgpt.com
