“backstop” = stealing money from Americans to pay off
select bankers and billionaires and Chinese
who are actually NOT ENTITLED to that money.
It seems that each day the government takes on more authority than was ever permitted in the Constitution.
They are now completely out of control. Freedom was great while it lasted.
Is this the plan? The government buys up all the banks and then forces digital currency on us.
These little Rats are genetically deficient weirdos. But still dangerous.
We know who the contagion is
Sure...let’s just shoot the works!
Backstop the banks, pay $5M reparations to every Black person, unlimited illegal immigration, free trans surgeries for everyone who wants it.
If Yellen says that the banking system is sound, be very afraid because it most likely is not! Nothing, absolutely nothing, that this regime says or does is truthful....
This is to counter her own testimony to Congress just a few days ago.
From NBC News:
“ Republican Sen. James Lankford of Oklahoma pressed Yellen about how widely the uninsured deposit backstops will apply across the banking industry.
“Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now?” asked Lankford. “Will they get the same treatment that SVB just got, or Signature Bank just got?”
Yellen acknowledged they would not.
Uninsured deposits, she said, would only be covered in the event that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences.”
Lankford said the impact of this standard would be that small banks would be less appealing to depositors with more than $250,000, the current FDIC insurance threshold.”
Soon she’ll say that if Government controlled all bank accounts it would work a lot better ,LOL
Yellen another feeble minded parasite in the Biden tribe of fools and idiots.