The topline story from the announcement by JPMorgan Chase [SEE HERE] there are no banking rules/laws in the Biden Fed/Treasury system.

The Dodd-Frank laws are still on the books, but the FDIC decision to insure all deposits, regardless of size, now means those laws, rules and regulations are not required to be followed.  Additionally, as a result of JPMorgan gaining another $100+/- billion in deposit assets, the law(s) surrounding the 10% U.S. deposit maximum, within too big to fail banks, no longer exists. Noted in the announcement, “JPMorgan Chase is assuming all deposits – insured and uninsured.”

JPMorgan is also assuming assets consisting of $173 billion in loans and approximately $30 billion in securities.  The FDIC is going to assume risk (with a risk sharing agreement) for current First Republic Bank mortgage and commercial loans acquired by JPMorgan, guaranteeing JPMorgan a 5-year fed fixed rate on $50 billion in mortgage bonds.

The Federal Deposit Insurance Corporation (FDIC) rule requiring the holding of 1.5% of deposits for all depositors up to $250k in all institutions is now essentially moot.  If the FDIC is guaranteeing all deposits, there’s no way for the insurance corporation to capture or hold $1.5% of all banking deposits.  The law is in conflict with the outcome action of the Fed/Treasury and ultimately the FDIC, ergo the law is nulled by the ignoring of it.

Mohamed El-Erian gives his take below, but seemingly missed the part of the announcement where JPMorgan states, “no systemic risk exception was required” in the deal.  This means the FDIC is completely free-range with the agreement, they are not even trying to justify why they would make a too big to fail bank even bigger. WATCH:

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In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the JoeBama Administration and Presidency.

“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”

“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”

~ Mike Vanderboegh

This thread will refresh daily and appear above the Open Discussion Thread.

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Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.

For Thine is the kingdom and the power and the glory, forever and ever. Amen †

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CTH has been warning about how the multinationals use the false construct of the DC Potemkin Village to keep people distracted from the true power center that is in control of the system of our national government.  Just as Washington DC and the Legislative branch do not write legislation, the DC system does not control the regulations that flow as an outcome of the Executive branch policy.

Behind the Potemkin Village we discover the mechanisms and people who write the laws, construct the rules, and pay for control over the priority and execution of policy.  Corporations are in control of government; the politicians are the faces that keep everyone distracted.  This dynamic was recently highlighted when Senator Lindsey Graham discovered during a television broadcast that he was a sponsor of a bill he didn’t even understand.

The RNC and DNC are two private corporations within this dynamic.  The same funding mechanisms and corporations behind the Potemkin Village are the same funding mechanisms and corporations who fund the RNC and DNC.  This is one big political apparatus that gives the illusion of government, while the corporations exfiltrate the wealth using laws they construct and policies they create.

Earlier this year we warned these same multinational entities would use the “culture war” to enhance the distraction.  This is ‘The Big Trap.’  Earlier today NBC’s Chuck Todd ran the promotional preview for the 2024 deployment.  WATCH (2 minutes):

Prior to the 2012 election and the rise of the Sandra Fluke free birth control narrative, we used to call them social issues; however, the usefulness of cultural wars has morphed into the larger war of wokeism.

In the big picture, keeping the voting base distracted from the economic expansion of multinational globalism, the corporate ‘masters of the universe’ (ie. the Big Club within both parties), need to keep pushing wokeism and anti-wokeism as a political strategy.  The cultural issues are useful tools to keep control of an alignment of voters.  It has always been thus, and even more important now that people are starting to realize the expansion of the rust belt.

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Over the weekend Ann Coulter’s ex-boyfriend interviewed Elon Musk on his legacy enterprise HBO television show.  The interview is interesting from the dynamic of a few short soundbites that come from a brief discussion.  It’s 20 minutes for those who are interested.  WATCH:

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Gary Cohn is connected to the banking and finance industry, well connected.  In this interview with Face The Nation earlier today, Cohn is discussing the current status of First Republic Bank, another big player in the California banking system that is about to collapse.  Cohn notes something at the 1:15 mark that just seems obvious yet is undiscussed in most outlines of the FRB discussion.

Six weeks ago, in an effort organized by the FDIC, $30 billion was pushed into FRB by eleven larger banks to stabilize it.  However, the only thing that infusion of capital did was allow institutional depositors time and ability to withdraw their funds. A complete racket.  Once the at-risk group exits, suddenly the collapse is back on the tee.  WATCH:

[Transcript] – MARGARET BRENNAN: We want to turn now to Gary Cohn, who is the vice chairman of IBM, former Goldman Sachs president and a former Trump administration top economic adviser. Good morning to you. Lots of titles, Gary, Lots of experience. That’s why we like having you here. I want to ask you about what’s happening with First Republic. It’s been under pressure. We know they’ve been looking for a buyer, the FDIC, the government is looking to arrange, moving it into government control and then maybe selling it. What are you hearing about how this would roll out?

GARY COHN: Margaret, thanks for having me. I think you’re portraying the situation as we find ourselves again on a weekend. As we closed business of Friday, the FDIC was in a process of looking for acquirers or bidders for the assets over the course of the weekend. I think the FDIC has asked potentially three banks for their final bids for the entire bank. The FDIC would prefer to sell the bank in its entirety than the pieces. What will most likely happen is the FDIC will seize control and then simultaneously resell the asset to the successful bidder. I think that will happen sometime later this afternoon before the markets open in Asia this evening.

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Victor Davis Hanson often has a unique big picture perspective on current events, linking and contrasting the disconnected high-brow outlook to the pragmatic perspectives of the modern populist movement.

Hanson takes an academic approach to the reality of current social constructs, yet in his own unique way he can describe the current status in a thoughtful and practical way.  In this analysis VDH contrasts the goals of the ideological media, specifically the goals of those in the Republican wing of the media control apparatus, to the reality they have created by removing the voice of Tucker Carlson.  WATCH:

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In their quest to control the mounting opposition to the corporate manipulation behind the DC Potemkin Village, the corporate media are creating a nimbler and more consequential army of opposition to their efforts.  The need for control is a reaction to fear.

There is a particular type of spider that carries several hundreds of young on her body after birth.  If you spot one of these in your shower, and your irrational fear instinct is to smash what seems to be a big scary spider, what you discover in the aftermath is the bathtub walls moving.  Yes, you may have squished the spider, but hundreds of smaller spiders are now crawling all around you.

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Despite no one knowing ‘how’ Jeffrey Epstein actually made his money, one of the great mysteries amid a labyrinth of rabbit hole mysteries, the network of government officials and high-profile names who associated with and met Epstein has never been fully outlined or absorbed.

Other than a few random and specific names that surface from time-to-time, the lack of media curiosity into the bigger context of the Epstein story has always been somewhat perplexing.  One would ordinarily think the opportunity for a Pulitzer might entice an intrepid media outlet to do a lengthy dive into the matrix of Epstein; alas, no effort toward that objective ever surfaced.

Today, another fragment in the story seemingly finds its way to the surface as the Wall Street Journal outlines a list of names that were not included in the “black book” story, but nonetheless were intertwined with Epstein *after* his first conviction as a sex offender [STORY HERE].

Two of the names within documents, schedules and calendars attributed to the Epstein life include current CIA Director Bill Burns and former White House lawyer Kathryn Ruemmler.  In addition to being the White House legal counsel, Ms. Ruemmer was also the foundation lawyer for Bill and Hillary Clinton as well as the personal lawyer for Susan Rice.

(Wall St Journal) – The nation’s spy chief, a longtime college president and top women in finance. The circle of people who associated with Jeffrey Epstein years after he was a convicted sex offender is wider than previously reported, according to a trove of documents that include his schedules.

William Burns, director of the Central Intelligence Agency since 2021, had three meetings scheduled with Epstein in 2014, when he was deputy secretary of state, the documents show. They first met in Washington and then Mr. Burns visited Epstein’s townhouse in Manhattan.

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As I am sometimes able to do, today I printed the prayer thread and took it with me.  I light what grandma always called ‘my Jesus candle‘, sit still, then walk quietly through each prayer and request with pause and deliberation.

As I generally do, I also add my own prayers targeting a turmoil that is less specific.  There is bludgeoning in the world; there is also manipulation, deception and ultimately evil. I do not like it; I am repulsed by it; and like you I choose to oppose it in every way I am able.  This is our ultimate zero-sum battle.

The task completed, I also pondered the changes of the past seven months that surround me. The physical landscape where my youth unfolded, forever changed – much of it erased completely.  Then suddenly, for some unknown reason, a thought occurred:

If God told me a secret today that I was not permitted to share; a secret that today was my last day and yet I could not reveal that knowledge, what would I do?

There is a particular clarity of life, a clarity to purpose, that seemingly happens when we put a clock on our endeavors.

Generally, we ignore the clock, abiding to life is much easier that way, and, truthfully, I do not believe there is value focusing on something we do not control.  However, while we do not control the countdown – we do control every choice we make within it.  Thus, the question holds merit, ‘What would I do?‘

If we accept that we can create something, perhaps make it just a little bit better by making a choice, then we have accomplished something; perhaps much bigger than we imagine.  It is a fundamental truth in life that if we change the way we look at something, then what we look at changes.

We always have choices.

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In an effort to keep the Daily Open Thread a little more open topic we are going to start a new daily thread for “Presidential Politics”. Please use this thread to post anything relating to the JoeBama Administration and Presidency.

“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”

“But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.”

~ Mike Vanderboegh

This thread will refresh daily and appear above the Open Discussion Thread.

(more…)