The installed occupant of the White House said something today that is just brutally false on its face.
From the words typed into the teleprompter of Joe Biden you hear, “No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund.” Who the hell does Biden think are paying those “fees”? Those fees paid into banks, and then out of banks, from all around the nation are paid by the people using the bank, that’s taxpayers.
The United States government does not create a single dollar of revenue. They transfer revenue from people to processes and systems of government. Charles Payne has a good perspective on this entire dynamic. {Direct Rumble Link} WATCH:
Posted in Banking and Finance, Big Government, Big Tech, Dem Hypocrisy, Joe Biden, media bias, Notorious Liars, Professional Idiots, propaganda, Uncategorized
…at the root of this is the Private Western Banks. The Federal Reserve IS NOT a government institution!
I noted yesterday the only way out was a return to the gold standard and expansion of domestic energy production. Add to that list the removal of the Federal Reserve.
Dissolve the FED.
Dissolve the entire current government
will brunson bro’s case in the SC do it ??????
It is not the FED. It is the Legislature and Biden forcing the Fed to do unsound things. What was the root cause of 2008? Do you remember? It was the Democrats forcing banks to loan money for homes with 0 down and with poor credit rating. But it was the Banks Fault. Unsound financial policies have consequences. This debacle is no different. SIVB had terrible management.
The banks then packaged those unsound loans & sold them to offload their mandated risk.
Exactly. And some poorly managed companies bought those CDOs… Collateralized Debt Obligations. Smart bankers unloaded the garbage and bad bankers bought those CDOs. Same thing here. The SIVB management was terrible and greedy. UK News reports SIVB had no Risk officer most of 2022. Poor banking practices caused this, but with big banks there huge collateral damage from poor managemnt and poor oversight by OCC. OCC should have taken this bank over and all this would have been prevented. Again Biden Team makes huge mistakes. When big banks fail there is always a problem with collateral damage. SIVB goes under but what happens to companies like Roku?
Customers are getting bailed out. We’ll pay for it via increased banking fees.
Investors not so much. Yet.
Interestingly enough, the CFO of SVB was at Lehman Bros in 2008 when it collapsed. He was rewarded with a chance to do it again. Something that wouldn’t have happened if he’d gone to prison in 08 as he should have.
SVB is a consequence of no consequences for criminal failures.
They also promised those unqualified buyers that their income would naturally increase over time…but what happened?
The Obama economy…pockets in Chicago had upwards of 22% unemployment…(per a BOA official then).
Underwater mortgages and foreclosures.
It’s not that simple… At all.
I dog face, hairy legged pony soldier dare you….
https://diannemarshallreport.com/its-take-down-time-all-the-dots-are-connecting/
https://diannemarshallreport.com/italys-former-prime-minister-and-obamas-third-term/
https://diannemarshallreport.com/the-republic-is-being-restored/
Thank you.
Her reporting has never been very credible. She asserts all kinds of things but never provides any documentary proof.
Gold is up this morning… I realize that “it’s early times yet”.. but perhaps folks are finally paying attention?
The people that own most of the gold are the same ones doing all the destruction.
Fiat, gold, bitcoin have all the same owners, it doesn’t matter, the little guy will never win at any of those games.
Yep. JPM.
You could have bought Physical gold & silver and have it in your possession.
Yep, little bit here, little bit there. Nothing like the big guys but little by little.
The most important thing is to think CAREFULLY about how you are going to use it, store it safely, and not leave a trail back to yourself.
Re “the little guy” winning in the gold, bitcoin or fiat markets, you are absolutely right. However, those who own such assets, hold such assets, or who wish or need to acquire them, whether as a large or small investor, bank president, corporate CEO, world leader, autocrat, tyrant or other, they are paying a hefty price for the presumed safety of these financial vehicles which were purchased–it must be said– with currency they can no longer spend on other priorities. Furthermore, they will not be able to invest the value of such assets (in the trillions of dollars) for as long as they hold them because these instruments are nothing more than self-insurance policies against total financial collapse of the world economy.
Putin, Ji et al., would rather, I believe, not have to invest in gold, crypto etc, for the sole purpose of holding on to power after their fortunes or their nations’ economies are wiped out.
The best part about the crypto scandals is that the NWO agenda will now be immeasurably more difficult since they need cheap prices for their windmills and solar panels that depend on once-cheap rare earth metals which are now rising in price as end-0f-world, survival assets rotate away from crypto and into truly valuable commodities such as gold and precious metals.
This all puts mineral-rich Afghanistan int0 better perspective as Joe Biden maneuvers all US adversaries int0 highly advantageous financial positions vis-a-vis the US, ie, Russia, China, Iran, Saudia Arabia (new to the list, thx Joe!), and Afghanistan (also, thx Joe!).
I’ve been wondering why people would sell gold if they have it; why wouldn’t they hold onto all of it? If I buy gold I pay them in dollars that they tell me will soon be worthless! Something doesn’t add up.
Gold goes up when the Dollar goes down and vice versa. Dollar is down a bit today. I got a funny feeling that gold, silver etc. will continue to go down more unless the Fed starts to lower the rate.
Actually no, they do no operate as an inverse to each other. Martin Armstrong explains this very clearly… But it IS a chaos hedge.
Early Times & the High Rollers:- “Dogs of Karma” – YouTube
Put it under your desk and get a very long straw.
Federal Reserve, in making up for last 10 years of ignoring interest rate risk, raise rates higher faster than ever before. Where’s that price stability concern Fed was supposed to care about?
Banks, pensions, citizens and foreign governments leveraged govt gteed securities to make up the shortfall in the late rate environment the Fed created.
So the Fed created the problem and now it’s offered to backstop banks for unrealized losses? Do they not believe others will want the same??
The Japanese economy is a wreck due to govt owning more than 50% of its securities.
How much will the US own or backstop of its own bonds after all is done?
And once the govt starts these programs, it just gets bigger over time.
All good ideas, but I wonder where the gold will come from? I hear Ft. Knox doesn’t have enough gold to last a luxury weekend in Vegas.
Germany has the second largest gold reserve in the world. Shame they cannot fund Europe’s war.
Well, we took 200 tons of gold from them in 1945 at the end of WWII in the Merkers Mine. 7,000 sacks full. So they must have done well since……….
All the gold has been stolen. Its in Red China.
I wouldn’t say stolen.
China and other countries have been BUYING a lot of gold.
A “gold standard” has NEVER given us a stable banking system. The problem isn’t the system, it’s the corruption and the poor character of those who make the rules and decisions in these matters.
Even FDR had to STEAL PEOPLES MONEY/GOLD AND THEN REVALUE IT, to make his “gold standand” viable.
So true. Even with a poor system, honest people could make it work.
I agree with your 3 suggestions….however…
The root comes from the seed. I have a problem with the whole set up…who pushed for whatever made the system collapse…and why? These are supposed to be highly educated individuals…(see my other post within this thread, elsewhere, regarding the edumacation of those people.
Surely all these people, educated, one would think, at the higher levels of business and finance, who base their thinking from “feelings”, that someone did not recognize poor business/finance decisions or choices, would have poor outcomes? And did not speak out? They probably did but were shut down, because it did not feel good.
But then in health care, educated people tried to let it be known about the ‘Rona and the clot shot, and were shut down.
Exchange the words “possessed or brainwashed” for educated.
Palestine? Anyone?
Thank you, Sundance!
The concept that the govt has no money, but OUR money, is lost upon most people. I recall riding public transit in Boston years ago, heading to work, and listen to a guy talking about the Big Dig debacle’s massive over runs, and saying “thank God it’s not our money.” I knew at that moment that we have little chance of reigning in runaway govt.
When you TELL the the truth they get mad at you.
And viciously so.
Don’t ya know, “speaking the truth in times of universal deceit is a revolutionary act” . could even be treason by some peoples’ reasoning . . .
I am an RN with a BSN…for over 43-45 years in the health care industry, on the front lines, trying to protect my patients from the effects of Obamacare in the ICU,…..my mantra was “not on my watch” as best I could. That said….
When I heard educated nurses, with PhD’s, in my age bracket…talking vehemently about “getting those shots into arms”…I knew we were screwed.
Different expense account, same idea.
You shoulda just smiled and in your best Southern voice said “Well bless your little hearts” and walked off. BTW # 7 Seed…we gonna beat those shorthorns in round 2!!
Exchange the words “possessed or brainwashed” for educated.
from the Leaderine herself –
When you look up, what is a woman? and this video pops up. 😉
Lady Thatcher! What a woman!
My favorite quote from her is: “Consensus is the absence of leadership.”
Yes, I made these same points yesterday: ANY money spent by the FedGov is ultimately OUR money, or worse, it is funny money conjured out of thin air and printed, meaning that we still pay via higher prices because of The Official Inflation of the currency.
I think even double-digit I.Q. voters can understand the connections!
Right now, rumblings about Credit Suisse in trouble.
You can violate the Laws of Logic only so long!
Where society is going, there are no Laws of Logic, only guidelines for rationalizations given moral relativism and subjective (un)truths.
One can ignore reality, but cannot avoid the consequences of ignoring reality. We’ve still got a long ride to the bottom before the rest of them figure that out, if they ever do.
Credit Suisse is going under absent a massive bailout…same cause, 0 interest rates for too long, now going up fast
“I think even double-digit I.Q. voters can understand the connections!” Don’t bet on it. Most appear to have been ostriches during all the revelations over the last several years.
Yes, I fear the same thing. If they can be awakened to those connections, they should be able to understand.
But..you never know! We shall see: Rush Limbaugh always said don’t bet against the good sense of the American people.
Was he too optimistic?
Of course he was too optimistic. I take Mencken’s view that the masses are easily fooled and believe that government will take care of them.
Yes
The results of government education are devastating.
Wait a second. So after telling the truth about Covid, masks, border, shots, riots, Ukraine, nordstreeam, Afghanistan, hunter, Biden family, China, Russia, ………
Now your telling me this administration is lying to me? I AM SHOCKED!!
No kidding! Such distrustful people in leadership. Like steering the Titantic.
The Fed Reserve, who is supposed to provide price stability, screwed interest rate risk for 10 years.
Now they have historically raised rates over a short period of time.
And we are told the banks have not managed their interest rate risk?
Come on man!!
Basically since around 2008-ish we have had artificially low interest rates (basically free money). The interest rate paid to savers was less than the rate of inflation by a long-shot. We encouraged people to put their savings into at-risk accounts to chase better returns which is a horrible idea for many families.
All that free money fueled stock market growth and Wall Street enrichment and made regular folks poorer in that anyone with assets was getting a very poor return on those assets. People with big spending and credit habits loved it, but they don’t own anything. Everything is a payment, not an asset.
Stable, sensible long-term interest rates are very important (as you note), but seem to be all but forgotten in the discussion.
Barry had to pay for his Arab Spring
We as a formerly proud and free people still ought to make that goofy looking charlatan pay….and pay….and pay!
Good Post, Felix. Thanks.
I think even after 2001, new cars sold for little to nothing interest. Coworkers were all buying new cars.
As we approached retirement, our prime concern was to protect what I call our “seed corn” at all costs, by staying out of risky markets or investments and depending on sensible (not extravagant) interest rates to add to our account while watching our spending. We had no debt.
We had been burned badly twice in market crashes which cost us dearly; and at our ages then we simply could not afford to gamble. Even less so today.We were getting about 6% on our accounts at that time. All was well in the best of all possible worlds.
But then in 2008, everything blew up, at which time came the “lower”, then “lower for longer”, then ” lower for seemingly forever” policies of a private bank which threw out all economic and fiscal rectitude. All in aid of keeping the market from crashing and building up higher and higher valuations while keeping the cost of money insanely cheap for their good buddies.
Financial repression was bad enough. We adjusted our spending again. And then the “transitory” inflation” struck, as it was always going to with reckless Fed policies and maniacal government spending and the almost unserviceable debt which followed.
In short, Keynesian lunatics released all the asylum inmates.
Inflation, according to government statistics is around 6%. Shadow stats more realistically has it at around just under 15% according to their figures as of January 2023.
The interest rate now may seem high, but it is still too low to tackle the rampant inflation which has been unleashed by over a decade of imbecilic and costly policies by the Fed…
…that is IF tackling inflation to get it under control is the actual intent.
Now this…
We’ll see what Powell, now stuck between the proverbial rock and a hard place, does this week. A real Hobson’s choice. And then we’ll get a better feel about his stated seriousness on tackling inflation.
The FED raised interest rates much faster and climaxed astronomically higher in 1979-1980. The fools rode the free-money train too long…it is time to pay the piper!
Volker is so long ago bro! So funny how history is only based in one’s generation.
https://www.macrotrends.net/2015/fed-funds-rate-historical-chart
This has been around since the “Greenspan put” in the late 1980’s.
Each recession since then has been progressively worse (‘93 vs ‘01 vs ‘08).
This one features something not really experienced in the other three: double-digit inflation.
Pray that we don’t get double digit deflation.
The bank president was on the board of the Fed Reserve!
Well they did put their foot on the gas. Not sure my memory is correct but think there have been three increases @ .75 and I have never heard of that before.
Was there ever any doubt that they would protect those that helped put them in power? Really?
Saw a message on the Fox News chyron a while ago that read “FDIC transfers all assets to a new bridge bank”…..wtf does that mean?
These guys are busy little bees.
In the basement with Joe.. Basement Bank where nobody knows! Nuttin’
It means they “Bought The Brooklyn Bridge”
It means bend over, here it comes again….special delivery. Straight from the Distract of Corruption, by way of the swamp ad the deep state.
*District of Corruption, But “Distract” works just as well , in most cases.
What if we all pulled our money from the bank, quit borrowing, and stopped using credit cards………obviously not all at once, but gradually, over time? I know. It would never happen.
It means they’ll literally create a new bank that owns all the assets of SVB which will be dissolved. Eventually, the bridge bank will be gobbled up by one of the other major banks.
and the favored RICH will continue to get RICHER; the American taxpayer will fund the clean-up
Alex Christoforu on his YouTube podcast yesterday was talking about SVB….
And what happened in Greece when one of the largest banks failed. I thought it was interesting. Nothing like having someone who lived through it….
You are right about creating 2 banks.
They also placed capital control in Greece in order to stop a run on banks. You could only withdraw something like $300.00 per week from your bank account.
I do remember him saying it took years to straighten things out.
“…. to new bridge bank”
The yellow brick road to digital money über alles?
It means the bank nationalization has begun
The FDIC took any remaining funds at SVB, and transferred them into receivership in a “bridge bank”, an interim bank that would hold any existing or recoverable funds pending a final solution of the matter.
New ‘Good’ bank = deposits
Old ‘Bad’ bank = worthless assets for sale
Just TARP replay
Protecting yourself and your family from what is inevitably coming isn’t as easy as it seems. Everything you have on account in banks and brokerage firms could be taken away with a few actions or keystrokes driven by government.
Having hundreds of thousands of dollars in gold and silver in the house is risky, but is becoming less risky looking the more you see what our criminal enterprise government is working toward.
America has too many people that are too independent. Too many assets, too mobile, too able to provide for themselves as long as they have access to food, fuel, and their bank accounts. At some point, that access to money has to be removed or seriously reduced. Covid was a test-run for how much government could get people to do voluntarily. We now know that it’s way more than anyone ever thought without brute force. Curious what their next play will be……. this will get much, much worse in my view. Our entire financial system is a giant house of cards operating on not much more than the word of government.
Digital currency…
Indeed. Beyond the printing press to totally made up
You do NOT have anything on account with any bank….the money is legally theirs! They owe you a debt for the funds that you transferred to them. If you deposit money you no longer have a legal claim to that same money!
That’s right, it changed with Dodd-Frank. A depositor is now an “unsecured creditor”, and if the bank fails, it can come and take the invested funds of bondholders, then stockholders, and then depositors.
And these people will get worthless bank stock in return.
Excellent post, Felix.
Soon after the NAFTA treason……Clinton bails out Mexico, Jan. 31, 1995
https://www.politico.com/story/2019/01/31/this-day-in-politics-jan-31-1995-112993
1000 thumbs up…
When I was politically agnostic I thought he was a nut job…
Turns out I have been the wingnut…
((and if anyone quips still are I will laugh along with you…¥….))
Voted for him. He was MAGA version 1.
Same me..
Me too Andy read the book on the wings of Eagles tells you a lot about old Ross good man wish he had won
R.d.
Me too.
Clinton is THE reason CCP can target their ICBM’s accurately…
Amongst a host of similarly alarming issues…
The kazarian mafia found a gem in that devious hick…
Yes he is the reason.
Yep, and as pointed out by William K. Black, a bank examiner who was involved in the indictment of some of the 1000 S&L employees during that crisis and by many others, THAT bailout was the beginning of the HUGE moral hazard trend – private upside, public downside; heads we win, tails you lose.
Here is David Stockman, Reagan’s budget director, on exactly that:
He made sense to me and was a *business* man not a crap politician. Yes, I voted for him!
Let’s go a little deeper, shall we?
SVB also had automated APIs (Application Programming Interfaces) that enabled Crypto providers (like JP Morgan backed USDC stable coin) to access their backing funds.
They temporarily lost access to $3.3B in those funds during the collapse, which happened to be started by Peter Thiel (of the Paypal mob) pulling his sizable assets from the institution (and those watching him followed suit). SVB’s funds were tied up in low paying bonds, which it had to cash out at a loss to satisfy the withdrawls.
The collapse was planned. Because these banks invest in each other, it risks contagion– as none of them have rapid access to more than ~10% of their deposits at once.
You are witnessing the great financial reset, and it is going to get a lot worse before the solution is brought in.
Que up the scene from the Titanic of the Quintet playing on the deck as the boat is listing 40 degrees and the elitist lady is asking if the lifeboats will be seated according to class….scene fades and AC/DC Highway to Hell is playing in the background.
Thanks.
de ja vu!
Charles should point out that these banks were managed by financial experts, the best of the best.
And the Fed is now going to backstop their government agencies to par, even though they are only worth 70% of par with these historical rate hikes by Fed.
But if you just an American citizen and bought the same bond and its loss in value caused a margin call, where’s the Fed for you??
Nowhere.
So the actions by the Fed harm all but only the banks will be made whole.
And that’s not right or fair.
IMO Schwab is being targeted for its USAA member pensions funds. Military always is the sacrificial lamb.
No doubt it is.
….annnnd there is that smell! A cloaked bailout.
Exactly. Biden Bin Lyin (at least the administration) is going to bail them out. We just won’t hear about it.
Once again proving that the money markets et al are criminal smoke and mirror grifter enterprises.
“For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” 1Tim6:10
A lot of grief today.
Incidentally, read that Signature Bank in NY is a “crypto bank”, so now we have taxpayer dollars bailing out vapor-money stored on some HDD. Geniuses at work. So what’s the end game? I think those paying attention already know the answer.
All part of a giant money laundering scheme, if you ask me.
Your point proven:
SVB CEO Greg Becker used to be a Director at the Federal Reserve Bank of SF, his 2022 total compensation was in excess of $14 million, two weeks ago he quietly sold over 12,000 shares of SVB stock, stock that would be worthless as of last Friday.
They knew. BUT…and like clockwork…Biden acts as if he’s there to save the day…due to a problem his “let’s repeat the Great Depression” has directly caused — while blaming PDJT. Despicable doesn’t begin to describe these criminals.
A bank collapse by those who believe they are the masters of the world. Your point is well taken that Biden and the people behind him are bailing themselves out for stupid behavior come to roost.
I dog face, hairy legged pony soldier dare you….
https://diannemarshallreport.com/its-take-down-time-all-the-dots-are-connecting/
https://diannemarshallreport.com/italys-former-prime-minister-and-obamas-third-term/
https://diannemarshallreport.com/the-republic-is-being-restored/
Meanwhile China is using US wealth transferred to them courtesy of the United States Chamber of Commerce and crooked congressmen/women and business leaders to threaten the entire world with totalitarian rule…
There is so much to say but one single word is going to mean so very much in the very near future….
And that word is….Taiwan…
It’s coming…possibly imminent…
Taiwan.
Not certain what it portends, but Wallbank says Chinese property owners are abandoning Vancouver. (Canada, I presume)
…good for Vancouver…
Unfortunately, yes.
United States doesn’t care about Taiwan or the Taiwan people.
Taiwan is another Ukraine.
But worse, since Taiwan is recognized by the UN as a Province of China. UN resolution/article 2758. If you look at our own State Department website…it states there …that Taiwan is part of China. One China policy.
The EU and NATO are suffering because of the Sanctions against Russia. They do a lot of business with China. Are they going to follow along with poking the Dragon?
What we have been doing in Taiwan is the same as if China was to supply any State or Territory of the US with weapons.
What if China was to “set up shop” in Puerto Rico . Would we be OK with that?
War games and reports have already been conducted and published. If we provoke a war further and hostilities break out – Taiwan will be destroyed first. Completely.
Are we willing to sacrifice the people of Taiwan for an opportunity to poke the Dragon….exactly the same way we have led hundreds of thousands to death in Ukraine just to poke the Bear?
We have a Major gripe with China. It is economical. We opened the door and corrupt politicians and businesses here in the US went through it. We sent our manufacturing to China. Did not protect our technology. Trade imbalance. We have not even succeeded in having our politicians stop foreign countries from purchasing land in US. In fact, Biden is encouraging foreign business to come here. Great–Biden wants the US to be even more owned and controlled by Foreign countries /s
President Trump had us on the right path. To bring our manufacturing back and Tariffs.
I am not willing to sacrifice the people of Taiwan just so the war mongers can make more money in the Arms manufacturing.
No. I could not and will not support any type of military action in Taiwan. I don’t like at all that we are meddling in affairs….again…in a country that is thousands of miles away.
Our Government is poking the Bear and the Dragon….at the same time. Insanity. Total madness.
America First.
No War
Trump 2024
BOOM !!!
-ilDonaldoTrumpo gab
Too little, too late.
This financial implosion where deplorables once again bail out the uber-wealthy is a much bigger deal.
…. before Hunter’s daddy goes to a rest home
he needs to be federally pensioned
These sound like the identical words to spew forth from Reagan’s ‘regulators’ back in the early 1980’s. Am I the only one who still carries the scars of that fiasco? But the brave hero John McCain was spared from the disgrace of enriching his wife’s family! And do we remember little nobody Neil Bush?
Here we go again!
Yes. Mr. SNL.
*Mr. S&L.
Wrecked Colorado that’s for sure.
You are not alone, hagar.
My dad lost half of the money he had set aside for retirement in the S n L meltdown.
He was never able to earn it back before he died.
My daddy was a decorated Army veteran who put himself through school, went on to work as an engineer for 39 yrs.
He died a month before Biden stole the election, thank God. He would be horrified at the state of our govt today.
I often wonder if our great WWII veterans were not meant to see any of this (my dad as well).
Great points.
More, including comments on the testicle free “Republican” non-response:
Bannon’s War Room – 13 Mar 2023
Episode 2581: The Open Scam That You, The American People Are Paying For
https://rumble.com/v2cyjlc-episode-2581-the-open-scam-that-you-the-american-people-are-paying-for.html
Another entirely predictable outcome of the CCP dragon’s intentional spread of COVID-19.
Winston….
We were involved in that China also. Funding.
Now….What about the claims by Russian Foreign Minister Lavrov that the US still has operating bio-labs in Ukraine right now?
A slightly different perspective. In prior bank failures, uninsured deposits have been paid 100% of the time, with the sole exception of Indy Mac.
So while we might not like it, it’s not a new thing.
https://www.axios.com/2023/03/13/let-the-bailout-debate-begin-silicon-valley-bank-fdic
Seems like it’s still a bit early for bank failures to commence in earnest. Just wait..
You know, I never thought the Greens had the power to start wars and collapse our economy.. But as it turns out, they did!
“Everything woke turns to sh*t ”
President Trump
This farce of an administration are bailing out all their DNC cronies, big tech coconspirators, and campaign and lobby slush fund contributors. They are just going to hide the fact, and lie about doing it, better. You know Bribedumb’s admin will bail these entitled, rich, CCP funded tech kings out. If they didn’t, some REAL inconvenient truths might start to come out. And we know when they start admitting some truths, like the CV lies, you know they are only doing this to hide something even more nefarious, and buried way deeper. More frightening to me, is when they appear to tell the truth.
Time to add another item to the debt ceiling list of things to be fixed.
Fire McCarthy!
The next step is “We’ll be able to prevent this bank collapse, the stock collapse, and the petrodollar collapse, if we just transition to digital currency.”
The Fed knew what it was doing to banks, to investors in long term Treasuries when it raised rates. This is purposeful. And another transfer of wealth.
The only tool the Fed had to fight the inflation that was the result of COVID-19 money printing was to raise rates.
The FUSE WAS LIT to blow up the time bomb laid down by 14 years of “temporary emergency measure” near zero rates since the GFC by the PREDICTABLE reaction to the CCP virus.
Another thing to add to my LONG “why COVID wasn’t an accident list.”
Energy policy played a much larger role in inflation…
Just an additional factor.
The massive bubble caused by “free money” to paper over the last bubble where none of the people who should have gone to jail went to jail was ALREADY a balloon ready to explode/implode.
The HUGE enrichment of deplorables-hating oligarchs brought about by COVID-19 is what is involved in this bank implosion AND the resulting theft of the WH by a senile pervert who then acted to raise energy prices.
So, once again, THE FUSE WAS LIT BY the CCP virus. The bomb was already there.
Well put
This is Part II of Mathew Crawford’s substack on this SVB and governmental action, so guess to post it here.
Titled “Why Would Silicon Valley be Ground Zero for Banking Centralization?” and seems like there will be additional parts. His thesis appears to be these are maneuvers to bring central bank digital currencies into reality through a series of emergencies, I think. some of his math is beyond my day to day way of seeing things, but he seems to be onto something.
https://roundingtheearth.substack.com/p/why-would-silicon-valley-be-ground-e24
I said that yesterday. This is all about crypto currency and I did not stay at a Holliday Inn. They are manipulating for control again. They should not be making whole those who invested more than FDIC insurance. Every rube knows not to put it all in one basket.
Open the Books Adam A. has additional historical information about SVB:
https://openthebooks.substack.com/p/the-silicon-valley-bank-coverup-and
Understandable with all the funny business going on with the economy that Charles Payne’s hair sure is getting gray.
I like Charles Payne. Always have.
And I have noticed his hair turning gray too.
It’s amazing that due to all the stupidity concerning finances that Biden has done…that he hasn’t torn his hair out in frustration.
God Bless Charles Payne and his family.
Before this Brouhaha, never heard of SVB.
Those banners?
SVB IS LARGEST BANK COLLAPSE SINCE (“GREAT”) RECESSION
16TH LARGEST BANK IN THE U.S. COLLAPSES
Truth seems to be, let us raise the fear factor to the next level.
In 1920 there where over 30 thousand banks in the U.S., now a little over 4300. Seems every financial crisis brings bank consolidation or closer to the One Bank system.
Its getting harder and harder to pay attention to the fear porn! If you are not preparing for future events you be dumb.
Apparently the Sussex’s have. All their money was there. Who does that?
Keep reading the over 90% of depots are over the FDIC insured amount. Look like SVB was more a (holding center) for all that stimulus money handed out by the government for the scamdemic to the tech moguls. As is the case we always hear someone has pulled money out, just before the crash.
My question always is, where did the money go? If we assume the money was real, created and in circulation in society, who got the money how did they get it and what did they spend it on?
We have to assume that this money at SVB was “REAL”! SVB, was just acting like a bank.
Joe’s been tanking our economy ever since he got into office and the fed’s have raised the interest rates ump-teen times in the last year alone, yet it’s all Trumps fault…What a horses-ass our installed village idiot is.
…it’s the 80% obama crowd causing the damage…
Joe is just an idiot as he has always been.
Delaware must be in the bottom 10% of national I Q
Kissinger…burrzinski….
When I was a schoolboy China was only a threat if they could get at you with a tank…
Times have changed a bit since then…
Love Charles Paine. Unbelievable!
All the same idiots that believe in vax, masks, perfect elections, etc are the same idiots that think this is not a bail out.
Bad news is there are way more idiots than there are Treepers…
More accurately, they’ll correctly believe it is a bailout and that Biden is lying…UNTIL they are commanded by the government that such thoughts are a sure sign of white supremacist ideology and anybody who dares say “bailout” is on the payroll of Putin.
At which point they’ll tuck tail because they don’t want to be called names.
Bannon said same this morning……………………..the hedge funds/investment banks have plenty of cash to backstop these boutique banks.
And if a small investor “mom” got caught up; I am sorry. But no way should US Taxpayer money be backstopping these kinds of financial fiascos.
Is the cost of protecting these people worth increasing government meddling in financial markets when it IS NOTHING more than increasing hardline government meddling in financial markets?
The price is well worth it to THEM to use YOUR tax dollars as an excuse to meddle in YOUR finances
The 80,000 IRS agents are not to go after leftist financial schemes…
It’s to put the citizenry under their thumb.
“No losses will be borne by the taxpayers…”
Means exactly the opposite of the statement.
Every single Secretary of Whatever has lied to this nation…no exceptions…
Take what any of them say and turn it inside out and there you will find the truth…
Lies put them in office and lies keep them there…
Banking is one of the glues that hold civilization together. Payne rails against Big Tech. But if deposits are not guaranteed what happens to Roku? 300 Million + on deposit. It disappears and all the shareholders and employees are toast. The contagion could cripple the economy as a whole. Where was the OCC in forcing this bank to sell out before a catastropic run started? Government malfeasance started this debacle. Stolen elections have consequences.
Recommend everyone read G. Edward Griffin’s book, “ The Creature from Jekyll Island”. It fills in all the blanks about the corrupt Fed. When you get to the part about who financed the communist takeover of Tzarist Russia, I’m sure the lightbulbs will turn on. It’s long but so is the history of banking in the U.S..
Charles Payne is was convert to “liking” President Trump and MAGA. He remains one of the few “good guys” remaining on TV Business News, yet even he has to toe the line and his words looked at closely. I do not believe even Charles Payne is NOT telling the whole story, on purpose.
He tells a great story that folks grounded in traditional finance and economics will believe for now, especially since Charles Payne is “one of the few good guys”.
However, those pumped and dumped companies at SVB and other failing “2nd tier large regional banks” banks were Bit-Coin related Projects. Those companies are NOT Silicon Valley Companies and large number of them are FOREIGN COMPANIES. The bail outs will involve assuming ownership of the digital assets that were tied to these companies.
The only thing Silicon Valley in this purposely created mess is the name of the SVB Bank.
“Isn’t Joe Biden doing such a great job?”
Jim Cramer is going to single-handedly crash the economy.
https://redstate.com/bonchie/2023/03/13/jim-cramer-is-going-to-destroy-us-all-n715844
That was quick!
What happened about the clean up at East Palestine?
You don’t actually think our government is going to let all those rich, liberal Hollywood snobs lose one dime of the millions they had in the woke Silicon Valley Bank do you?
One way or another, they’ll make sure the middle class pays for every penny.
Biden claimed that the taxes were targeted at the “billionaires out there” ..
His new budget will hit millions of Americans, not just the 700 or so billionaires after all the insane spending.
Lies about how these cuts are needed to cut the deficit with his usual blustering narrative. That, being he’s trying to protect Medicare with nothing but promises that he can keep Medicare going until 2050, IF he gets his tax hikes .. this, while paying off government unions; directed trillions to his donors, supporters and base.
That promising narrative is a lie.
This gives government bureaucrats their biggest pay raise; a 5.2% raise for federal employees, the biggest pay hike in 43 years since his inflationary predecessor, Jimmy Carter. This administration had already dispensed a federal pay raise of 4.4% to 5.2% last year, the highest in over 20 years, now it’s trying to match the legacy of the Carter administration.
I loved how Charles shot Dana’s stupid story about the single mom who does etsy, back across the net with a flaming chili pepper.
Good on you Charles for not letting that dumbass bottle blonde harpy imply to the audience that single moms who sell crap on etsy are SVB’s typical customers.
I have never thought much of Ms. Perino but her comment was really on Don Lemon level.
The single etsy mom.
I don’t think there are very many single Moms involved with Etsy who have over 250k in their bank account.
And if that Mom was never told to open another account at another bank in able to be insured for any amount over 250k I am truly sorry for her.
If the account is 250k or less it is insured by FDIC. What is causing all the mess are accounts with more than 250k. That are Not insured.
I was discussing this yesterday and a friend was talking about when her dad died that they had to go to many different banks because of the FDIC, and her father always made sure he never went over the insured amount.
My Dad always told us
..never put all your eggs in one basket. He was a wise man.
Perino really is not that bright.
At the end of 2022, the FDIC reported that its Deposit Insurance Fund had a balance of $128 billion, about 1.27% of the total insured deposits. Joe Biden said this morning that all of the deposits in two failed banks would be covered by the FDIC. The two failed banks have around $300 billion in deposits. What happens after the $128 billion is spent? The FDIC has a $500 billion line of credit with Treasury, so the American taxpayer IS bailing out the banks to the tune of $172 billion. What happens if more banks fail and the line of credit is exhausted? The FDIC will not be able to insure ANY future losses, hitting the little guy like a ton of bricks.
Exactly.
The largest accounts at SVB being bailed out has potential to do some serious damage to all banking. And taxpayers.
I dont believe anything Joe The Vigorous says- I dont even believe thats the real Joe.I sure as hell dont believe anything anyone says in this illegitimate government either.
This is all just bonkers – in reality SVB has more assets than liabilities and is not in bankruptcy. What happened there was simply that they invested depositor monies in government bonds that paid less than they owed the depositors and when a few people noticed (because trying to issue equity drew attention) it produced a classic run on the bank. As a result SVB, which by then had lost a bit over a billion trying to shore up cash reserves, ran out of reserves.
A ten second solution would have been for the fed to lend them cash against holdings… that would have let them weather the panic and left everyone, except the bank’s equity holders, clean. Know why they couldn’t? barney-frank.
But but but….
Trump!