If you’re a rich democrat donor, you’re guaranteed 100%.
“If you’re a rich democrat donor, you’re guaranteed 100%.”
Even with all the turmoil in the banking sector, just after Yellen spoken this morning, the DJIA and NASDAQ all just skyrocketed. There was no evidence the banks were on more solid financial footing, but Yellen let it be known that ‘certain’ banks, not all mind you, would be deemed “too big to fail”. That was her message. Podunk, Idaho banks would fail if under stress due to a lack of deposits, but not those such as SVB or Credit Suisse, or even First Republic. Those banks will be bailed out. They are forcing depositors to move their money to one of the favored four banks, which is leaving local and regional banks under stress.
Meanwhile, the government is gearing up to introduce digital banking and government “Crypto”. I suspect all of this is by design.