Skip to comments.Janet Yellen Just Poured Lighter Fluid on Every Small Bank in America
Posted on 03/17/2023 6:51:10 PM PDT by CFW
What in the world was she thinking? When a bailout was hastily arranged for uninsured depositors at Silicon Valley Bank and Signature Bank, the implication was that the same thing would be done for uninsured depositors at any other banks that failed. But now U.S. Treasury Secretary Janet Yellen is telling us that is not actually what will happen. She just admitted that depositors at a failed bank will only be protected if officials determine that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences”. So that means that depositors at big banks are likely to be protected and that depositors at small banks are much less likely to be protected. In other words, Janet Yellen just poured lighter fluid on every small bank in America.
Why would anyone keep more than $250,000 in a small bank at this point when there is a very real risk of losing all of the uninsured money if the bank suddenly fails?
(Excerpt) Read more at discernreport.com ...
Once in the big banks, gee, all your “money” is digital now.
Bank consolidation and digital currency. We are stomping on the accelerator.
I keep seeing the $250,000 number thrown around. If your spouse is on the account, it is $500,000. If you add all of your kids as POD, it increases $250,000 for each one of them.
There are accounts that automatical spread across many banks, when the ballances are 250k or more the fees for the service just comes out the interest. If you personal banker does not tell you about it, they are not doing their duty to you.
There are accounts that automatically spread across many banks, when the balances are 250k or more the fees for the service just comes out the interest. If you personal banker does not tell you about it, they are not doing their duty to you.
“Once in the big banks, gee, all your “money” is digital now.”
My thoughts exactly. Don’t think they wouldn’t engineer something like bank failures just for that purpose.
credit unions ncua
better check for increased insurance for beneficiaries, i dont see it
Didn’t PDJT fire her from the Fed shortly after talking office?
No this was engineered on purpose.
They’re scrambling and they’re going to get people killed.
The big question is are the banks in trouble.
It already was true that over 250k wasn’t insured, and people should have known that.
The banks lost liquidity because they made bad investments with people’s money.
Banks traditionally are often run by highly paid idiots.
Systemic risk will be determined by bureaucrats.
With widespread government corruption that systemic risk will be determined by:
1. Contributions to political party
2. Promoting leftist ideas
3. Outright bribery.
This is a half-step away from placing a political commissar in each major bank.
I’ve looked into those, but good luck collecting much of anything when SHTF and your ones and zeros are dynamically scattered across every bank on the planet.
In the last few months there have been a number of places that evolved to park one’s money that pay better than banks.
Hence a significant part of the run on banks.
I’m just about done paring my bank accounts to the bone.
Long term negative real [and low nominal] interest rates combined with inflation fighting Fed interest rate increases is the core of the problem. This is not likely to end well.
Looks like you do get more coverage for beneficiaries.
So, why is Janet Yellen violating the 14th Amendment?
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