Subscribe for free to the America First Report newsletter.
At a time when the U.S. government should be making massive spending cuts and reversing their woke ESG agenda to stabilize the economy, they’re instead doubling down on bad policies and switching on their favorite “solution” to financial problems: Printing more money.
Following the earthshattering fall of Silicon Valley Bank on Tuesday, fear of more carnage prompted actions by other banks. Now, the FDIC has shuttered another bank on the other coast, making massive turbulence in the coming weeks a certainty.
Regulators have shut down New York’s Signature Bank for the same basic reasons they took down Silicon Valley Bank. According to Red State:
The move to shutter the second bank is seen in the financial world as a race to contain the fallout from SVB’s collapse. The Fed is trying to auction the bank’s assets off, accepting bids until Sunday night. There is concern in Washington D.C. that this is the beginning of a bigger financial crisis, one that could rival the Global Financial Crisis from the Bush and early Obama years. The worry from folks like my colleague Streiff is that this is a very big and very slippery slope toward nationalizing the financial markets.
The Fed, in its release, is trying to convince Americans that this is limited to just a depositor bailout and not a greater handout to shareholders and other debtholders, saying “Shareholders and certain unsecured debtholders will not be protected” and that “Senior management has also been removed.”
Treasury Secretary Janet Yellen initiated an emergency series of policies. The most noteworthy is to remove the $250,000 limit on FDIC depositor insurance. This will allow big money depositors at these two banks to not be harmed. To be able to do this without putting the burden on taxpayers means printing more money. This is why in Yellen’s press release she noted that they are working with the Fed to offer a bailout to depositors.
According to the press release:
Washington, DC — The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:
Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.
After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
Coffee the Christian way: Promised Grounds
We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.
The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today’s actions demonstrate our commitment to take the necessary steps to ensure that depositors’ savings remain safe.
It’s noteworthy that she referred to these measures as “reforms” rather than anything temporary. This isn’t a stopgap. It’s the new normal. This tells us beyond any shadow of a doubt that they realize the economy is in the process of tanking and they’re trying to hold it together until they get their Central Bank Digital Currency ready.
That’s part of the endgame. A manufactured and semi-controlled economic collapse will give the powers-that-be the predicate they need to force a Digital Dollar upon sooner rather than later. This is why I strongly urge Americans to start stocking up on essentials now. Tighten your financial belts. Cancel amenities and reduce frivolous spending if appropriate. Things are getting very rocky and if this really is by design as I suspect, it’s not going to get any better soon.
This is also why I am telling friends and family to move their retirement funds to self-directed precious metals IRAs. I am not a financial advisor but it makes a whole lot of sense to me to get wealth as far away from other markets as quickly as possible. Even though we have three gold sponsors, in this unique circumstance I’m recommending one in particular.
Controlling Protein Is One of the Globalists’ Primary Goals
Between the globalists, corporate interests, and our own government, the food supply is being targeted from multiple angles. It isn’t just silly regulations and misguided subsidies driving natural foods away. Bird flu, sabotaged food processing plants, mysterious deaths of entire cattle herds, arson attacks, and an incessant push to make climate change the primary consideration for all things are combining for a perfect storm to exacerbate the ongoing food crisis.
The primary target is protein. Specifically, they’re going after beef as the environmental boogeyman. They want us eating vegetable-based proteins, lab-grown meat, or even bugs instead of anything that walked the pastures of America. This is why we launched a long-term storage prepper beef company that provides high-quality food that’s shelf-stable for up to 25-years.
At Prepper All-Naturals, we believe Americans should be eating real food today and into the future regardless of what the powers-that-be demand of us. We will never use lab-grown beef. We will never allow our cattle to be injected with mRNA vaccines. We will never bow to the draconian diktats of the climate change cult.
Visit Prepper All-Naturals and use promo code “veterans25” to get 25% off plus free shipping on Ribeye, NY Strip, Tenderloin, and other high-quality cuts of beef. It’s cooked sous vide, then freeze dried and packaged with no other ingredients, just beef. Stock up for the long haul today.
It looks like my sons will bury me a hero instead of a fool. That is Horrible for the USA and the world.
although we are aligned ideologically against the marxist-globalist tyrants controlling our world , giving financial advice as you certainly are pushing gold , sets you up to be sued and prosecuted. You’re not licensed to do so.
The “magic money” will be the introduction of digital currency with the fed as the world’s banker. Since regular banks can’t be trusted with your money and are failing, only the fed can safely handle citizen’s money as long as it is digital. This was the plan all along. Prove me wrong!!!
If you’ll study the WEF/ UN documents from the past decade you’ll see that there planned to implode the banking sector . They will then use this crisis to promote the Central Bank Digital Currency as the ‘ solution ‘. It will be vu tart at the beginning and by accepting it all of your ‘ lost ‘ deposited from the universal banking failure will be added back as a CBDC – a nominal service fee of course.
If you refuse the CBDC you’ll just have list whatever funds you had in the bank and RETIREMENT ACCOUNTS at the crash.
To me the cost is hefty, but I’m not going to be taking the CBDC though I stand to lose several hundred thousand that are beyond my ability to remove and relocate at this time.
This is a serious matter, but not catastrophic as I’ve read those documents and protected and prepared as best I could this last decade and my family sits it’s a well prepared status as a result .despite the impending loss.
My treasure is in heaven, those few $$ I’m going to lose are nothing compared to the riches of knowing God through Jesus Christ who forewarned us of these terrible and trying days.
I pray you are prepared as well my friends.
God Speed.
Do you have a link to a UN/WEF document that you feel is most relevant? I can find the rest but just wondering if there is one in particular to consider.
God speed
You don’t need a license to recommend a tangible product. You should buy some silver. Now sue me,
Go woke…get broke.