America Faces No Greater Threat Than Joe Biden and the Democrat Party. Their Assault to Our Borders Is As Great As Their Assault to Free Speech and Free Elections
Thursday, March 16, 2023
WILL THIS LOOMING BANKING SYSTEM COLLAPSE BRING DOWN THE DEMOCRAT PARTY? - Look which bankster-owned Democrat politicians are on the Board of Directors at Silicon Valley Bank - Why are they there????
We’re now witnessing the Great Banking Collapse of 2023, and you should probably buckle up because this is going to be a wild ride. The dominoes are falling faster than anyone expected, and if you thought the bank failures were over – think again. The whole system is at risk, and a new report from credit rating firm Moody’s Analytics confirms that more institutions are about to crumble in the months ahead.
The demise of Silicon Valley Bank and Signature Bank won't be unique cases. The Federal Reserve generated a 620 billion dollar black hole in our banking system by aggressively raising interest rates, and our quadrillion-dollar derivatives pyramid scheme is shaking right upon us. Now policymakers are desperately trying to fix things by recklessly spraying money around when they’re actually going to need a much bigger hose.
The speed at which financial institutions can break down in the digital era is absolutely breathtaking. According to the Wall Street Journal, in a single day last week 42 billion dollars were withdrawn from Silicon Valley Bank, leaving the financial institution with $1 billion in negative cash balance, the company said in a regulatory filing.
On Tuesday, a new report by credit rating firm Moody’s Analytics revealed some alarming information about the U.S. banking sector. “In a harsh blow to an already-reeling sector, Moody’s cut its view on the entire banking system to negative from stable,” CNBC reported. The firm said the action was a response to the key bank failures that prompted regulators to step in with a dramatic rescue plan for depositors and other institutions impacted by the crisis.
The firm’s move can have ripple effects because it can impact credit ratings and thus borrowing costs for the entire sector. In the report, the rating agency said that despite the extraordinary actions taken to shore up impacted banks, other institutions with unrealized losses or uninsured depositors still could be at risk. Moody’s warned it was carefully reviewing the rates of First Republic Bank, Zions, Western Alliance, Comerica, UMB Financial, and Intrust Financial. The firm had previously cut the rating of Signature Bank, which then has been seized and turned into junk.
Needless to say, we must keep a very close eye on those six names. Oftentimes such complex crises just take time to fully play out. A major example of that is the fact that insiders knew that Silicon Valley Bank was “technically insolvent for months” before it fatally collapsed.
The problem is that we have many other financial institutions that are “technically insolvent” right now. And although they may survive for a while, a day of reckoning always arrives. This is like watching a slow-motion train wreck playing out right in front of our eyes, and neither policymakers at the Federal Reserve nor politicians in Washington will able to stop it.
Things will eventually get a whole lot worse than they are right now. That’s why we encourage our viewers to get ready for the incredibly challenging times that are approaching us because they will truly change life as we know it.
Kevin O'Leary: Janet Yellen is facing a moral crisis
In 2018 and 2020, Breitbart Senior Contributor and Government Accountability Institute President Peter Schweizer published Secret Empires and Profiles in Corruption. Each book hit #1 on the New York Times bestseller list and exposed how Hunter Biden and Joe Biden flew aboard Air Force Two in 2013 to China before Hunter’s firm inked a $1.5 billion deal with a subsidiary of the Chinese government’s Bank of China less than two weeks after the trip. Schweizer’s work also uncovered the Biden family’s other vast and lucrative foreign deals and cronyism. Breitbart Political Editor Emma-Jo Morris’s investigative work at the New York Post on the Hunter Biden “laptop from hell” also captured international headlines when she, along with Miranda Devine, revealed that Joe Biden was intimately involved in Hunter’s businesses, appearing to even have a ten percent stake in a company the scion formed with officials at the highest levels of the Chinese Communist Party.
CUT AND PASTE YOUTUBE LINKS
Bidens don't seem to 'cover their tracks' in alleged China money web: Curley
American people deserve to know what China was up to with Joe Biden, especially when Beijing had already shelled out millions of dollars to Biden family members — including millions in set-asides for “the big guy.” What else is on that infamous Hunter Biden laptop? The conflicted Biden Justice Department cannot be trusted to engage in any meaningful oversight on this issue. We need a special counsel now.
TOM FITTON - JUDICIAL WATCH
My colleague Peter Schweizer’s runaway bestseller, Red Handed: How American Elites Get Rich Helping China Win, first revealed that the Biden family received some $31 million from the highest levels of Chinese intelligence at the same time Hunter was paying the vice president’s bills. Schweizer believes that there is a slam dunk case to indict Hunter Biden.
Janet Yellen: Chinese Depositors to Silicon Valley Bank to Be Made Whole
Treasury Secretary Janet Yellen told Sen. James Lankford (R-OK) during a Senate Finance Committee hearing on Thursday that Chinese depositors will be made whole while community banks will have to pay higher fees.
Yellen spoke before the Finance Committee to discuss President Joe Biden’s budget proposal, but given the increasing concern over the instability in the banking sector, most questions revolved around the federal government’s response to the collapse of Silicon Valley Bank, Signature Bank, and others.
Lankford asked Yellen if Chinese investors, including those with affiliations with the Chinese Communist Party, would be made whole through the government’s efforts to stave off a financial crisis.
He asked:
It has been reported publicly that SVB had a large number of Chinese investors, including some that are directly connected to the Chinese Communist Party. Will those companies, entities, and investors that are Chinese investors be made whole based on assessments in my banks in Oklahoma? So, what I’m asking is, will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole from Silicon Valley Bank?
Yellen responded, “Uninsured investors will be made whole in that bank and I suppose that could include foreign depositors, but I don’t believe there is any legal basis to discriminate among the uninsured.”
Part of the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation’s (FDIC) moves to stave off a banking crisis will include a special assessment on banks, or a fee, to replenish the Deposit Insurance Fund.
Lankford decried that community banks will have to pay an additional fee to make Chinese investors whole.
The Treasury secretary responded, saying that they are doing what they can to fight off a worsening economic situation.
Yellen said, “If we have a collapse of the banking system and its economic consequences, that will have very severe effects on the banks in Oklahoma.”
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
Failed bank's board revealed to be packed with Democrats
On Wednesday’s broadcast of MSNBC’s “All In,” House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) stated that while the uninsured depositors at Silicon Valley Bank deserved to be helped, maybe those “who are thinking that they got special treatment have some arguments too.”
Host Chris Hayes asked, “I want to ask you a question about the decision-making process for the Fed and Treasury to take extraordinary actions to shore up and backstop some of the uninsured depositors of Silicon Valley Bank. Now I think, on the merits, there [are] arguments for it, but the process that produced it, I want to read you this reporting from The New York Times, there was a lot of lobbying behind the scenes and a lot of high-up people, including many prominent Democrats. Here’s an example: ‘Peter Orszag, former President Barack Obama’s first budget director…now chief executive of financial advisory at the bank Lazard, hosted a previously scheduled dinner at the bank’s offices in New York City’s Rockefeller Center. Among those in attendance were…a pair of influential Senators: [Michael D. Crapo, Republican of Idaho, and] Mark Warner, Democrat of Virginia. Both were sponsors of [a] 2018 law that rolled back [regulation] on smaller banks…Blair Effron, a large Democratic donor whose firm…had just been hired by Silicon Valley Bank to advise it on [its] liquidity crunch, was also there.’ What do you say to people who say, they got special treatment because they were wired and connected to upper-echelon Democratic Party members?”
Waters responded, “I’ve heard that there are some allegations such as what you just described, but one of the things we have to think about, we have to think about the entire system and whether or not we are at a point or at a time where we could basically cause what happened in 2008 when we discovered that, not only had Lehman Brothers failed, but it was contagious. And so, the first thing we have to think about is who’s involved and who’s getting harmed. Those depositors deserved to be helped. And while we have rules that the FDIC only protects those at about 250,000 or less, we had this bank with about 90% that [were] uninsured. These were start-up companies for the most part. And so, we could either say, well, we’re not worried about the jobs that are being lost. We don’t care about the payrolls that are not going to be met, but we didn’t do that. As a matter of fact, I think you’re correct when you say that maybe they deserved to be helped, but maybe some who are thinking that they got special treatment have some arguments too. Well, the fact of the matter is, I basically agree that we helped out the families, we helped out the start-ups, we helped out the workers, and we got those payrolls going. But that doesn’t say that we’re not going to go deep into the investigation just about how this bank operated. We know it was a go-to bank for start-ups. They could not get loans in the traditional bank[s]. And so, he basically concentrated on this group of start-ups that were coming to him from all over the country to this bank. But we need to know what we’re going to do in the future about those who are not insured…what role did these uninsureds play in the downfall of the bank.”
On Wednesday’s broadcast of NBC’s “MTP Daily,” Rep. Josh Harder (D-CA) argued that covering deposits above the $250,000 limit in the case of Silicon Valley Bank (SVB) means “the genie is out of the bottle” and the limit on deposits covered by the FDIC has “implicitly been raised, but we need to make it explicit” and raise the limit “pretty dramatically.”
Harder said, “I think we’re going to need to raise those insurance limits pretty dramatically. And we’re going to have to have banks paying those insurance premiums, because they’re the ones that were at fault here. They deserve to have a lot more skin in the game. I don’t want to be a nation where we have two or three banks that dominate financial services all across the country. We have to have a position for regional banks to continue to thrive. They’re the ones that understand local conditions in rural districts like mine the best. And if you look at Silicon Valley Bank’s customers, they were working to cure cancer, working to develop semiconductor chips, they were a fountain of innovation and entrepreneurship. So, even as we make sure that there’s regulation and scrutiny that has to be higher going forward, I want to keep that vibrant spirit in these regional banks alive.”
He later added, “I think that the genie is out of the bottle and I think that we’re going to have to change the system going forward. We’re going to have to raise those insurance caps. You’re right that they’ve already implicitly been raised, but we need to make it explicit. And we need to make sure, as I said before, that banks that have the most skin in the game are the ones that are responsible for paying those premiums and ensuring that they have the strongest incentive to continue to make sure that this mismanagement doesn’t happen in the future.”
For decades, this insider has helped the financial elite avoid some of the worst financial bloodbaths in American history – including the Black Monday crash in 1987, the dot-com crash in 2000, and even the 2008 financial crisis.
His name is Louis Navellier, and he manages over $1 billion in private client money.
This disturbing move by Biden could send an earthquake through our country’s entire financial system. Mr. Navellier’s message reveals the immediate steps you need to take.
No comments:
Post a Comment