Posted on 03/18/2023 3:01:40 PM PDT by RomanSoldier19
Thanks for the response. I do not trust our government
right now, and even if something is needed, they’ll take
a route to do it that will harm us.
I heard a report the other day that Yellen was trying to
slip in a fix that could restore all funds instead of
only the FDIC insured funds.
Who does that help? Big money players, foreign nations?
It runs up our national debt, and that plays right into
the Socialist/Communist hands, who clearly want to break
the United States as soon as possible.
“Nearly 200 more banks may be vulnerable to the same type of risk that took down Silicon Valley Bank”
Meanwhile, NO PROBLEMS for Russian banks, likely because our brilliant Neocon masters disconnected them from our soon-to-collapse banking system - thereby protecting the Russian banks.
I think that they call it ‘sanctions’...but ‘sanctions’ against who - certainly not Russia.
You would think she had plenty to time sitting at home alone, without friends and nothing to do when she was a young woman to observe the economy. There were well over a thousand banks that failed in the 1980’s.
I not saying that will happen now, since there are far fewer banks. But it is likely that there will be more failures. Nothing has been done to improve the economy. In fact, continuing the current fiscal and monetary policies that has brought us to this point will guarantee the economy will be worse. That will lead to bank failures.
Not gonna happen.
’Cept they only pick losers and losers.
>> if half of their depositors quickly withdraw their funds
And why would they do that... because of reckless Yellen ?
#ing Rats
What d’you bet they all have genderfluid execs and queer women of color on their staffs?
Modern Monetary Theory to the rescue!
Maybe there could be a Marvel comic\movie on this - The Adventures of Modern Monetary Theory Person. (Has to be nonbinary to keep up with the tenor of the times!)
The SVB staff, many of whom had degrees in wokesterism, thought it was a great idea to take in deposits where SVB paid little or no interest and then the wokesters bought 30 year treasury bonds at 3%.
Banks have always operated on the interest rate spread between what they pay depositors and what they loan.
The plan was a big money winner until the 3% 30 year bonds dropped in price as the FED raised interest rates.
It is not only the small banks that played this game. The big banks did the same thing and all banks are now sitting with 30 year treasury bonds that are 60% of what they paid for them.
And this is how the banks screwed the senior citizens who were relying on getting 4% on their CD’s.
The Bank with the biggest exposure on this problem is the Federal Reserve. At one point there balance sheet equity got below negative 1.1 trillion, if assets are priced at fair market value instead of using clever dishonest accounting tricks.
What will now happen? The Fed will most likely pivot by first continuing to reverse course on balance sheet size, hold off on further rate hikes, huge increases in their balance sheets, then rate cuts when the fact that their exposure is so enormous will force them to cut rates, and then inflation will burn hot.
meant to add that a top BBC World Service presenter quoted HSBC press release re ESG commitments.
34m22s to 42m44s: John Willis/Planet Tracker ... plus EU:
36m37s to 40m20s: Australian HSBC/ESG statement. Planet Tracker’s Willis dodges questions about his own NGO’s “climate” actions:
AUDIO: 52m 59s: 17 March: BBC World Service: Newshour
Presenter: Owen Bennet-Jones
Also on the program ... greenwashing - we hear that there are now a number of associated terms - but what are green hushing, green crowding and green lighting?...
https://www.bbc.co.uk/sounds/play/w172yfchw20cpc0
Today, you can buy a US Tresury Bond with a 1.875% interest rate with a maturity of 02/15/2051 for $69.063
When that 30 year bond was issued in Feb 2021 the banks paid $100 for it.
And the wokesters at SVB that it was cool that they were paying depositors ZERO interest when they bought these bonds yielding 1.875%.
I had the same question you did and spent some time looking into their experience here. Their claims are based on their calculations, which I didn’t see documented on their site. I don’t place credibility into these claims, myself.
When making these kinds of claims, proof is required for legitimacy, IMO. If someone else wants to dig further on them, go for it.
Finally, feels like the NY Post is becoming more and more tabloid by the day.
All the banks she cares about are safe because she will bail them out with our money.
“Get ready for a huge drop Monday in the markets.”
I generally am bearish, even a perma-bear, but why would that happen? Often cash taken out of cash accounts is invested in equities, if not moved to a different cash or short-maturity account. I’m not saying Monday won’t be a down day, but not because of anything in this article.
Ah, you could sell the California properties and net ten times what the northern house cost. Maybe a bit of capital gains expense ...
We have too much information from too many sources that are not vetted and / or have no idea what they are talking about. Credibility is not just lacking... it is absent.
There is no doubt we are being manipulated by anyone who wants to do it.
Anyone.
Big difference between free speech and rumor mongering and spreading fear. Which is just what we are seeing.
On the other hand, there is a butt load of money lended out at very low rates for houses that just aren’t worth what people paid for them. Inflation fighting and printing money has created a monster. Chalk it all up to xiden. Will he ever be made to pay? Probably not even at the ballot box.
“”””On the other hand, there is a butt load of money lended out at very low rates for houses that just aren’t worth what people paid for them.”””
Good point. 3% mortgage rates caused the huge increase in house prices.
Today, the folks who bought their $500,000 dream house with a 3% mortgage are finding that their $500,000 house is now worth $350,000 because the mortgage rate is now 6% to 7%.
And that my friends is how money and interest rates work.
Privatize Profits. Socialize Losses.
Same as it ever was.
“Treasure Secretary Janet Yellen admitted to the U.S. Senate Thursday that the government is choosing winners and losers in the rigged bank bailout lottery“
The only problem is I really like our neighborhood (39 years!), our neighbors, the town, the mild winters, the ocean, and the nearby hiking. I like splitting my time. My wife loves it in Idaho and doesn’t want to return. So we have an unusual arrangement! She went skiing a couple days ago in brilliant sunshine and had a ball.
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