In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors” at SVB and Signature Bank. Roger Altman, the former deputy treasury secretary under Bill Clinton, told CNN that “What the authorities did over the weekend was absolutely profound. They guaranteed the depositors – all of them – at Silicon Valley Bank,” he said. “And what that really means – and they won’t say this – is that they have guaranteed the entire deposit base of the U.S. financial system.” He said that because all SVB deposits were protected, deposits in other banks are also guaranteed. He stated, “So, this is a breathtaking step which effectively nationalizes, or federalizes, the deposit base of the U.S. financial system.”
Former deputy Treasury secretary, Roger Altman, admits: With SVB, Biden Admin "effectively nationalize[d] … the deposit base of the U.S. financial system … Technically speaking, they haven’t [nationalized the banking system], but in a broad sense, they are verging on that." pic.twitter.com/SBn9SfY3Xm
In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors” at SVB, that did business with tech startups and another shuttered firm, Signature Bank in New York, that served the cryptocurrency industry.
The extraordinary rescue would allow all depositors at the banks to have access to all of their money, even if it exceeded FDIC limits of $250,000. The feds said that “no losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.” However, the cost of bailing out two banks that catered to the tech industry will likely be paid by average Americans in the former of more fees, less service and potentially higher taxes.
While the holdings of impacted depositors will have their money guaranteed, Biden noted that “investors in the banks will not be protected” because they “knowingly took a risk” by pouring cash into SVB.
Critics said that bailouts were given to SVB and Signature banks because its client base, as 98% of all political contributions from tech workers went to Democrats, and that if a bank that served other industries failed, those would not have been bailed out.
Roger Altman, the former deputy treasury secretary under Bill Clinton, told CNN that “What the authorities did over the weekend was absolutely profound. They guaranteed the depositors – all of them – at Silicon Valley Bank,” he said. “And what that really means – and they won’t say this – is that they have guaranteed the entire deposit base of the U.S. financial system.” He said that because all SVB deposits were protected, deposits in other banks are also guaranteed. He stated, “So, this is a breathtaking step which effectively nationalizes, or federalizes, the deposit base of the U.S. financial system.”
John Anthony Castro is running for president as a “Republican”, but has been accused of being a plant to fool voters. While Castro called for violence if Trump supporters riot, there is a dangerous history of Trump fans being beaten by the opposition when they showed peaceful support for Trump.
House Bill 1633 would prohibit retail establishments from requiring payment by credit card or a central bank digital currency (CBDC) during normal business hours. Retail establishments also could not legally prohibit the use of cash. State and local government entities would operate under similar rules.
FedNow is an instant payment processing system that seeks to be the base of all digital transactions. Centralized payment systems that monitor and record payments have been shown to be a gateway to a Central Bank Digital Currency (CBDC) digital dollar.
If enacted, SB 1558 would officially recognize gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver — thus bringing Texas closer to constitutional compliance and treating gold and silver as money.
The Zelensky regime is going to continue sending troops to die in Bakhmut, which has been described as a meat grinder. Italian Prime Minister Silvio Berlusconi said last month, “All [Zelensky] had to do was to stop attacking the two autonomous republics of the Donbass and this [war] would not have happened.”
Germany’s Minister of Health Karl Lauterbach, who supported mandatory COVID shots and once claimed that COVID-19 vaccination is free of side effects, admitted last week that he was wrong. He said adverse reactions occur at a rate of one in 10,000 doses and can cause “severe disabilities.”
The farmers’ BBB party opposes the government’s goal to buy farmers out and reduce livestock numbers by up to a third to help slash nitrogen emissions in half by 2030. Critics have pointed out that the regulations have caused food shortages and some people are unable to eat every day.
Gérard Fauré said Celine Dion’s mysterious degenerative illness was due to her abusive consumption of adrenochrome. He added that Yves St-Laurent and other people in the fashion industry were pedo criminals. When Fauré mentioned the name of France’s President Emmanuel Macron, the interview was cut short.
On March 14, 2023, an American reaper drone went down over the Black Sea, but Russian and US officials have different versions of what happened. War monger Senator Lindsey Graham said that if a Russian plane ever gets near another U.S. asset flying in international waters, their airplane would be shot down.
Greg Mannerino predicted that small regional banks that got “loans” from the Federal Reserve are failing in order to go up for sale and to be absorbed into the bigger banks at fire sale prices. He said that the Wall Street banks will stocks will rise.
In 2014, then Vice President Joe Biden stated: “These smugglers — and everyone should know it, and not turn a blind eye to it — these smugglers routinely engage in physical and sexual abuse, and extortion of these innocent, young women and men by and large.”
A recent survey found that most teachers (51%) are already using ChatGPT in schools and a number of students are using it for assignments. ChatGPT has passed many high-level exams, including the Wharton MBA exam, US medical licensing exam, several law exams and a final at Stanford Medical School.
A database showed that the Black Lives Matter (BLM) movement and related causes received an astonishing $82.9 billion from corporations. They asserted that the BLM pressure campaigns, harassment, and moral blackmail amounted to possibly the most lucrative shakedown of corporate America in its history.
In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors” at SVB and Signature Bank.
Susan Philip, MD, the health officer for the city and county of San Francisco, issued orders in February that healthcare workers to be vaccinated and, when eligible, to receive a booster. In addition, masks are also required for healthcare workers. Failure to comply is punishable by fine, imprisonment or both.
China continues to be the glaring exception to the ongoing global decline in coal plant development. China gets little push back from environmentalists and leftists despite the claim that coal is the fossil fuel most responsible for the climate crisis.
On March 2, 2023, Alberta Health Services issued new guidelines on COVID-19 vaccination stating that “All Albertans six months of age and older are eligible (to get COVID-19 vaccines).” A shocking revelation was hidden in the guidelines that Alberta has begun vaccinating children for COVID-19 without parental consent.
SVB $100 billion and invested it in government backed bonds locked away for 3 to 4 years at an interest rate of just 1.79%. SVB took a massive bet that the Federal Reserve was not going to raise interest rates as fast as they did, and when SVB turned out to be wrong, the bank was in a very dangerous position.
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Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)
Senator Rand Paul urged Congress not to pass the “monstrous” bill because of the dire consequences to future generations. He said the government brought in $3.3-trillion last year but spent $6.6-trillion. Bailouts perpetuate the COVID lockdowns that are killing the economy.
National Economic Council Director Larry Kudlow announced the total coronavirus relief package will come to around $6-trillion, with $2-trillion in “direct assistance” to Main Street and “roughly $4-trillion in Federal Reserve lending power” for Wall Street.
In the event Coinbase goes bankrupt, it says its users would be considered to be “general unsecured creditors” and might lose all the cryptocurrency in their accounts if it is stored in a wallet controlled by the exchange company.
This is the beginning of the end of the Federal Reserve and the “private Banking system” that has mismanaged it’s member banks, and in general make the absolute most wrong move at the wrong time- THERE IS NO WAY THAT EVEN IF THE PRINTING PRESSES ROARED 24/7-THAT THEY CAN COVER THE BANKS THAT ARE FAILING EN MASSE- THIS IS A CONTINUATION OF 2008F AT THAT TIME HANK PAULSON BLACKMAILED THE FINANCIAL INSTITUTIONS IN MAKING GOOD ” BAD EQUITIES ” THAT WERE INFLATED 100X’S THEIR VALUES CAUGHT BY OUR TRADING PARTNERS AND THEIR BANKS, WHO IN EFFECT SAID ” PLAY THESE… Read more »