TOM LUONGO: The Bank of England is bankrupt, folks. They are getting bankrupted over Ukraine and the obligations there

I feel like Tom Luongo's holding back on how he really feels about the entity of London re-hypothecating his 10 gold eagles thousands of times!!🤫😂 @TFL1728 @Sorenthek pic.twitter.com/96q4SrE1ow

— Chris Marcus (@ArcadiaEconomic) February 12, 2025

I think Trump and [Scott] Bessent are making a run on the Bank of England. That's the big one, folks.  I've been arguing for years that SOFR was the real Declaration of Independence by the United States for the first time ever.  250 years, folks.  So, yeah, we are implementing Basel III, London.  Get over it.  You won't be able to use unallocated pool accounts you've hypothecated my money a thousand times, and say, "Oh, no, we have reserves on the balance sheet, and we're going to use it to write 4,000 gold contract against my freaking stock of Gold Eagles," and say, "No, I've got tons in the vault."

Oh, really.  Yeah okay pull the other leg and play Jingle Bells.  The Bank of England is bankrupt, folks.  They are getting bankrupt over Ukraine and the obligations there.  The City of London in their infinite hypothecation scam needs to go away. 

Complete interview.

PART 1

PART 2