RedBreast21
6.5 Creedmoor
And capitalism is?
Buckle Up Part 3: US Studies How To Guarantee All $18 Trillion In US Bank Deposits!?!?!
- Thread starter John Stark
- Start date
Somehow, this doesn't sound too far fetched....
Just another step along the path to complete integration of the corporate and government spheres - AKA uber-fascism.
Crowding Out: The Fed May Be Killing the Private Sector to Save the Government | Daniel Lacalle
"The Federal Reserve has stopped paying attention to monetary aggregates just as the money supply is contracting at an almost historic pace. Even worse, the money supply is contracting but federal deficit spending is untouched, and the debt ceiling was raised again.
The money supply is collapsing due to the inevitable credit crunch and the difficulties faced by consumers and businesses. It is impossible to grow with rising taxes, persistent inflation—a tax in itself—and carrying the entire burden of the normalization of monetary policy."
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The following post from John Rubino and the video (gotten from his article) doesn't paint a rosey picture.
I guess Sam Zell died recently, but the video is eye opening...addresses a number of problems with what's going on, including "transitioning" to a "zero carbon" economy.
Real Estate Icon Sam Zell: Right One Last Time
"This is the Weimar Republic."
And we all know what came after the Weimar Republic.
Just another step along the path to complete integration of the corporate and government spheres - AKA uber-fascism.
Crowding Out: The Fed May Be Killing the Private Sector to Save the Government | Daniel Lacalle
"The Federal Reserve has stopped paying attention to monetary aggregates just as the money supply is contracting at an almost historic pace. Even worse, the money supply is contracting but federal deficit spending is untouched, and the debt ceiling was raised again.
The money supply is collapsing due to the inevitable credit crunch and the difficulties faced by consumers and businesses. It is impossible to grow with rising taxes, persistent inflation—a tax in itself—and carrying the entire burden of the normalization of monetary policy."
------------------------------------------------------------------------------
The following post from John Rubino and the video (gotten from his article) doesn't paint a rosey picture.
I guess Sam Zell died recently, but the video is eye opening...addresses a number of problems with what's going on, including "transitioning" to a "zero carbon" economy.
Real Estate Icon Sam Zell: Right One Last Time
"This is the Weimar Republic."
And we all know what came after the Weimar Republic.
DoOver
.450/400 Nitro Ex
Genevieve Roch-Decter, CFA
@GRDecter
·
5m
The US Treasury has $57 billion in cash on hand while the government carries $31 trillion in debt That's the equivalent of an average person having $1,000 in cash on hand and $543,859 in debt Scary.
Dollar Woes to Debt Denial: The USA Is Screwed
"See why picking a currency-for-energy war against Russia (the world’s biggest commodity exporter and a nuclear power in bed with China, the world’s biggest factory owner and a nuclear power) may have been a bad idea?
As we warned literally from day-1 of the sanctions, this was obviously not the same as picking a sanction fight with say, Iran or Venezuela…
Nope. This scale of this was far more dangerous, and the avoidable casualties still piling up in the West’s proxy war (on Ukrainian soil/rubble) are not just soldiers and civilians, but Greenbacks too.
This was foreseeable."
"See why picking a currency-for-energy war against Russia (the world’s biggest commodity exporter and a nuclear power in bed with China, the world’s biggest factory owner and a nuclear power) may have been a bad idea?
As we warned literally from day-1 of the sanctions, this was obviously not the same as picking a sanction fight with say, Iran or Venezuela…
Nope. This scale of this was far more dangerous, and the avoidable casualties still piling up in the West’s proxy war (on Ukrainian soil/rubble) are not just soldiers and civilians, but Greenbacks too.
This was foreseeable."
How Corruption Makes You Poor | Economic Prism
"What to make of it?
Banana republics of all stripes have several common denominators:
They have a corrupt political class, including both ‘elected’ officials and unelected agency bureaucrats, who lie, cheat, and steal to consolidate power and concentrate wealth. They have a corrupt debt-based currency, run massive deficits, and resort to the printing press to scam the populace.
All public restrooms are corrupted with carved graffiti and missing toilet seats. In good time, as a nation’s corruption spreads and becomes more pervasive it bleeds all private wealth from its citizens.
Lastly, you know utopia’s been reached when the powerless majority are all equally poor."
"What to make of it?
Banana republics of all stripes have several common denominators:
They have a corrupt political class, including both ‘elected’ officials and unelected agency bureaucrats, who lie, cheat, and steal to consolidate power and concentrate wealth. They have a corrupt debt-based currency, run massive deficits, and resort to the printing press to scam the populace.
All public restrooms are corrupted with carved graffiti and missing toilet seats. In good time, as a nation’s corruption spreads and becomes more pervasive it bleeds all private wealth from its citizens.
Lastly, you know utopia’s been reached when the powerless majority are all equally poor."
Dangerous Global Shift From Dollar Driven By CCP And US Policy, Experts Say | ZeroHedge
"The trend away from the U.S. dollar in global trade and finance is accelerating rapidly as inflation persists, government debt levels explode, and the Chinese Communist Party (CCP) roams the planet negotiating deals in other currencies."
"The trend away from the U.S. dollar in global trade and finance is accelerating rapidly as inflation persists, government debt levels explode, and the Chinese Communist Party (CCP) roams the planet negotiating deals in other currencies."
RedBreast21
6.5 Creedmoor
All banks are insolvent. The private bankers installed fractional reserve banking many times, the last being in 1913. The system only requires 10% held and up to 9-10x the held deposit loaned out. Maybe people don't know it but that is what it is. This talk about covering deposits is new and in the context of a banking collapse that will never come. BRICS will devalue the dollar for sure when they roll out their currency which is to be announce next month, but to suggest that the West banking system will collapse is nonsense. The money on the books now is fake. Only held cash deposits are real as most is digital. Eight-five percent and growing, of ALL dollars is digital now. At any point any bank can be made solvent. Well, after it's is bought up.....I mean bailed out by the larger banks and banking consolidated to only a few. Then CBDC is rolled out. Bankers only care about a few things. Loans interest payments, gold reserves and assets in holding. That's it. As long as the money continues to come to them in the form of never ending interest payments and the assets hold value over the loan, all is well. Gold is really just a formality at this point.
T-bills, Bonds, debt ceiling are all fake and only in place to provide some structure to sell to the citizen as a legitimate monetary practice of the government.
It's fragile for sure and once everyone decides it has no value, it's done. But that won't happen. All currencies require faith in order to work.
Everyone just go back to fighting over two wings of the same bird parties, cocaine and the white house, Ben and Jerry's ice cream......ect.
T-bills, Bonds, debt ceiling are all fake and only in place to provide some structure to sell to the citizen as a legitimate monetary practice of the government.
It's fragile for sure and once everyone decides it has no value, it's done. But that won't happen. All currencies require faith in order to work.
Everyone just go back to fighting over two wings of the same bird parties, cocaine and the white house, Ben and Jerry's ice cream......ect.
spat
.700 Nitro Express
This is how they will implement a central digital currency if/when they go that route.ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Some Highlights:
"US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis."
"Treasury Department staff are reviewing whether federal regulators have enough emergency authority to temporarily insure deposits greater than the current $250,000 cap on most accounts" without formal consent from a deeply divided Congress... and goes on to note that "authorities don’t yet view such a move as necessary, especially after regulators took steps this month to help banks keep up with any demands for withdrawals" which is an important caveat"
"Well, there's always printing. According to Bloomberg, one legal framework under discussion for expanding FDIC insurance would use the Treasury Department’s authority to take emergency action and lean on the Exchange Stabilization Fund. The same magical Exchange Stabilization Fund which the Treasury is already using to backstop its latest bank bailout facility, the Bank Term Funding Program, or BTFP.
Here too there is a small problem: that ESF pot of money is used to buy or sell currencies and to provide financing to foreign governments. A bigger problem: the ESF only has $25 billion currently in it as parts of its BTFP backstop.... but it has to do, as it is the only pot of money under the full authority of Janet Yellen, with other spending and financing under the jurisdiction of Congress."
"Any mechanism using the ESF as a bailout mechanism uses the cash from the fund as a first-loss equity tranche to which the Fed then applies leverage. LOTS of leverage, because if authorities plan on backstopping the $18 trillion in total US deposits, the Fed will need to cover the difference... of some $17.975 trillion (unless Congress reaches a bipartisan deal to infuse more capital in the ESF, the same way the ESF was expanded to $500BN during the covid crisis..."
"Finally, such a program will likely have to also be the result of an executive order since it has little hope of passing in Congress where members of both the left and right will be vehemently against it."
“Any universal guarantee on all bank deposits, whether implicit or explicit, enshrines a dangerous precedent that simply encourages future irresponsible behavior to be paid for by those not involved who followed the rules,” the House Freedom Caucus said in a statement, "and we are confident most of the progressive wing will not be too excited about bailing out billionaires and corporations with orders of magnitude more in the bank than the FDIC limit."
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There is no doubt that the House controls the purse strings, even though our "representatives" have proven themselves over the last number of decades to be nothing more than carnival barkers when it comes to wielding their power for the good of our nation. This a fundamental, game-breaking point of Constitutional and governmental order that would smash our system of government forever.
The very notion that the Fed (a criminal banking cartel) and the Feds (our so-called national government composed mostly of corrupt "officials" and "public servants") are "studying" (read: seriously considering) the idea of guaranteeing EVERY deposit of EVERY depositor in EVERY bank, to the tune of $18,000,000,000,000 (Yes, 18 TRILLION), indicates several things:
-The "contagion" is worse than they want to admit.
-That these people are freaking nuts.
-That we're looking at inflation WAY beyond what we're already seeing, given that the only way to do this will be to hit print 18 trillion times on the printing press, of have someone in the Federal Reserve hold their finger on the zero key for awhile.
-That the "powers that be" might finally and irrevocably break the US Constitution if (probably when) they do this by an executive order from President Pudding Pop, rather than an Act of Congress. We would in essence be nothing more than a dictatorship, with all vestiges of what our Founders designed and passed on to their posterity blown away in a hurricane of despotism.
-That EVEN IF Congress "properly" voted to do this, everyone would have to finally admit that our Nation is not just insolvent, but is a complete and total banana Republic with absolutely no moral or political authority at all.
The FACT that this is even being "studied" is crazier than having a shit house rat for your family pet!!!
If they do this, FUSA turns into Venezuela in very short order.
If that is not game on for the average American citizen, I don't know what is.
Your deposit will be "insured" with the new digital currency.
When (not if) your bank collapses, you will be issued new FedCoin in plac of your deposit, take it or leave it.
Of course most people won't want that, so they will immediately try to get their cash out first, guaranteeing more banks fail and more FedCoin gets issued.
Bank failures are a feature, not a flaw in this plan.
Buckle up, it's going to be a wild ride.
Appropriate place for these.
This looks long, but the text box is narrow - regardless, IMHO, a good analysis of the mess the fUSA.Gov has created.
Just read it, the "gubmint" is cornered.
The End of the Road for the Dollar | SchiffGold
They can't fix it...in fact, I think they know it's going to result in nation-wide chaos (Antifa, Black Bloc and Antifa - Bueller?...Bueller?)...someone else (China?) steps in to do "humanitarian" things and voila!...we're communist vassals. Well, "vassals" of the CCP more than we are now.
And Charles Hughes Smith with his, as always, insightful, analysis.
Now Hiring: The Ministry of Failure
This looks long, but the text box is narrow - regardless, IMHO, a good analysis of the mess the fUSA.Gov has created.
Just read it, the "gubmint" is cornered.
The End of the Road for the Dollar | SchiffGold
They can't fix it...in fact, I think they know it's going to result in nation-wide chaos (Antifa, Black Bloc and Antifa - Bueller?...Bueller?)...someone else (China?) steps in to do "humanitarian" things and voila!...we're communist vassals. Well, "vassals" of the CCP more than we are now.
And Charles Hughes Smith with his, as always, insightful, analysis.
Now Hiring: The Ministry of Failure
I have been saying China boots in US for a couple of years. The only hope is that the world's economy fails.
You've been right all along...
China's auguring in...picked this Zeihan vid up from John Rubino's substack (Recession Watch: When Big Trends Collide).
Rubino says that Zeihan may be the most pessimistic...cornered animals, and communists, do bad shit...and the fUSA is virtually defenseless, economically, socially and militarily.
The only other possibility is if the US splits into 3 maybe 4 countries. We have the resources to be economical giants. It's the traitors among us that are killing this nation.
Jmac00
.475 A&M Magnum
some security folks are saying the Chinese are slipping combat units into the country, a few at a time through the southern border. This should make for an interesting CQC situation
I think the derailments are Chinese saboteurs.
Good chance that is exactly why the border is left wide open...after all, their are traitors in the WH and all through the government, many beholden to the CCP.
Probably a good peppering of jihadis of various stripes, as well as Iranian Quds Force.
Deplorable Me
.700 Nitro Express
Need to take a look at who in the banking industry donates to whose campaigns.
FOLLOW THE MONEY!
FOLLOW THE MONEY!
Acer-m14
20×102mm Vulcan
China's high heels have been here for lots of years .. who need boots
