The next step is moving from fiat to asset-based. Here's today's US Debt Clock's post...
Posted on 03/10/2024 9:28:39 AM PDT by C210N
The Federal Reserve Board on Wednesday [ed: Jan 24] announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions.
During a period of stress last spring, the Bank Term Funding Program helped assure the stability of the banking system and provide support for the economy. After March 11, banks and other depository institutions will continue to have ready access to the discount window to meet liquidity needs.
As the program ends, the interest rate applicable to new BTFP loans has been adjusted such that the rate on new loans extended from now through program expiration will be no lower than the interest rate on reserve balances in effect on the day the loan is made. This rate adjustment ensures that the BTFP continues to support the goals of the program in the current interest rate environment. This change is effective immediately. All other terms of the program are unchanged.
The BTFP was established under Section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary.
Luckily, there is something waiting in the wings, so while it gets messy, painful even, there will be positive change, because the status quo is messy. And painful.
Consider Tier 1 assets, ISO 20022, QFS, NESARA, GESARA, rainbow currency, BRICS, etc.
I think systemic failure is coming—but I think it may take decades.
The Roman Empire stumbled and bumbled onward for many decades after everyone knew they were toast—as just one example.
bkmk
Gold is not a growth solution. But it retains value in spite of a collapse.
The problem, there has almost always been a scarcity of Gold. but growth of an economy is built on currency expansion. If it is tied to gains in industrial output, technological development and growth of private development, it is constructive. If it only fuels more government intervention and control, it leads straight to hell.
This is the paradox of fractional reserve banking since it’s inception. The globalist bankers are as fake as out bought POL’s. They are both desperate to continue their fraud.
Will this come to a global collapse. It is possible. It is a lot more likely if Trump is elected to be a trap from which we can escape. If not, it will collapse on it’s own weight of lies under it’s own weight of debt.
Edward Dowd has stated the collapse is inevitable. I am not sure.
Data’s usually 3 to 6 months old but Bankfind will come up with some usable data. https://banks.data.fdic.gov/bankfind-suite/financialreporting
The problem is real.
The solution will come from the outcome of the November election.
Reshuffle the cards time.
Well, a small back can be taken down in a weekend; larger banks take months. But I think you might be right - the targets this time around might be the big regionals - not big enough to be Too Big To Fail, but more exposure than the commercial banks.
As to the Too Big To Fail banks, the plan for those was always to decapitate the leadership but to keep operations going while unwinding things and selling off the parts.
Why do you think that the State of Texas moved their gold reserve back to Texas from bank in NY?
This is not a new problem, it is only worse than it was before.
When Texas moved the reserve, they did not transfer the gold from NY. They sold it and bought known quality to replace it.
Very Very smart move. Like him or not, Rick Perry brought that about.
There was a proposition on the GOP Primary ballot that took place last Tuesday.
PROPOSITION 7
The Texas Legislature should establish authority within the Texas State Comptroller’s office to administer access to gold and silver through the Texas Bullion Depository for use as legal tender.
Yes — 8,351 (77.68%)
No — 2,400 (22.32%)
Why do you think that the State of Texas moved their gold reserve back to Texas from bank in NY?
This is not a new problem, it is only worse than it was before.
When Texas moved the reserve, they did not transfer the gold from NY. They sold it and bought known quality to replace it.
Very Very smart move. Like him or not, Rick Perry brought that about.
There was a proposition on the GOP Primary ballot that took place last Tuesday.
PROPOSITION 7
The Texas Legislature should establish authority within the Texas State Comptroller’s office to administer access to gold and silver through the Texas Bullion Depository for use as legal tender.
Yes — 8,351 (77.68%)
No — 2,400 (22.32%)
Good post—outstanding street smarts from Texas.
When it comes to financial matters trust no one ever.
How many people are actually using brick and mortar bank buildings TODAY!! I have not set foot into a bank in at least 5 years I can see WHY banks would be closing down buildings no one is using them anymore! I have not written a check for ANYTHING in at least 5 years!!
“That’s where I believe we are headed. And, not because of any inaction, but by designs. The system MUST fail, fiats don’t last more than a few hundred years. The so-called “debt”, which is a fallacy in itself, because a dollar by definition is debt when it is printed into existence.”
I fear that you may be right. And we already know that the Marxists, led by America-hating Obama/Soros, are and have been trying to destroy us from within. Stealing the 2020 election was just one step toward that agenda fulfillment. Ukraine draining taxpayer $$$s is another. Only question is.. what will be their ‘next’ step.
Nobody has explained the reason the Fed is doing this, so I’ll tell you.
This program allows banks to borrow money from the Fed at 4%, and then turn around and deposit it at the Fed and collect 5% interest. Of course, all the banks are doing this.
Not surprisingly, the Fed doesn’t like this, and is shutting down the 4% loan window.
“I think systemic failure is coming—but I think it may take decades.
The Roman Empire stumbled and bumbled onward for many decades after everyone knew they were toast—as just one example.”
The Romans had one thing going for them that we don’t have, however. They didn’t have an embedded cabal of communists working feverishly and 24/7 to destroy them from within... coupled with a plethora of willing pretenders to assist the destroyers (we call them RINOs).
The Romans allowed their own debauchery to defeat them, and yes, it took much longer. But look, realistically, at how fast this nation has been.... fundamentally transformed already... and just over the last decade or two.
The next step is moving from fiat to asset-based. Here's today's US Debt Clock's post...
I do know that most CU’s are FDIC insured but that won’t matter if there is a collapse. Still, the way they talked my money was more protected through them than through a large public bank. I have a VISA debit card through them, and their advice was to deposit half my money there and half at the local bank. They asked me who my local bank was and said they haven’t heard of that bank being in danger. In other words, don’t put everything you have in a bank. Split it between a bank and a CU.
“The next step is moving from fiat to asset-based. Here’s today’s US Debt Clock’s post...”
Ok. And for those of us that are not up on economic terms and principles ... what, exactly, does that mean? How is moving from fiat to asset-based accomplished and what will the fallout for most middle-income Americans be?
Pardon my ignorance on this subject.. but at least I recognize, acknowledge and admit to it, eh?
So, here is I believe a helpful short clip that discusses it in detail. For the poster asking how to assess the strength/weakness of their local banks, perhaps check on their exposure vis-a-vis commercial bank loans...
Check into QFS (Quantum Financial System), ISO20022 (and its ramifications for Cryptos), NESARA/GESARA, read up on the details of BRICS and note its expansion (Mexico now wants to join), how was the FED created (check out Jekyll Island, Wilson and what even he said about its creation, admitting the nation was doomed back then due to it), why is gold now just under $2200 in fiat?
“Check into QFS (Quantum Financial System), ISO20022 (and its ramifications for Cryptos), NESARA/GESARA, read up on the details of BRICS and note its expansion (Mexico now wants to join), how was the FED created (check out Jekyll Island, Wilson and what even he said about its creation, admitting the nation was doomed back then due to it), why is gold now just under $2200 in fiat?”
Ok, thanks for the tip. I’m a computer person but I know virtually nothing about financial/economics. I’ll work on that. Thanks, again.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.