[theluckycountry]

Re: Bidens budget increased by 30%

To be fair that is probably just keeping a status quo in real purchasing power

To be fair, interest rates have gone up a lot, and with your debt at $30 trillion the amount you have to repay in yearly interest has gone up a lot too. A large chunk of the Federal budget goes to simply repay interest on old debt. But they can't really afford it, so they borrow twice as much as they need to run the country and use the extra to pay the interest. Now that's a Ponzi if ever I saw one.

[Plantagenet]

Janet Yellen just announced the Biden administration WILL NOT bail out Silicon Valley Bank but they may bail out depositors who lost all their money when the bank collapsed. FDIC insurance covers $250K of losses, but many depositors had more money than that in their accounts.....especially many businesses. Of course many of these people are very wealthy Ds in very D California, and that may help them get special treatment that "ordinary people" don't get when their banks fail.

I just saw a list of 20 more US banks that might fail......These banks and indeed ALL BANKS are facing losses in their bond portfolios because rising interest rates have caused big bond losses over the last year.

It will be interesting to see if more bank runs start at additional banks next week. Supposedly people are already camped out in front of First Republic Bank to get their money out first thing on monday.


Will we see another banking crisis?? Keep an eye out to see if there are more runs on banks.....

Cheers!

[Plantagenet]

And BANG! The Biden administration response is out.

The bottom line is the Biden administration is going to bail out the rich........

First the Bidenistas have just closed a second bank.....Signature bank of New York will now be taken over by the government.

And second......the Bidenistas announced the Federal government (thats means us taxpayers) will bail out all the wealthy depositors at both Silicon Valley Bank AND now at Signature bank.

So once again we've got the government bailing out the rich.........just like in 2008-9. Meanwhile the rest of the country gets to suffer though Biden's inflation.



SHEEESH!!!!!!

[jato0072]

Silicon Valley Bank won’t get a federal bailout, says Janet Yellen: ‘We’re not going to do that again’

Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.

Federal Reserve Board announces it will make available additional funding to eligible depository institutions

The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution's need to quickly sell those securities in times of stress.

With approval of the Treasury Secretary, the Department of the Treasury will make available up to $25 billion from the Exchange Stabilization Fund as a backstop for the BTFP. The Federal Reserve does not anticipate that it will be necessary to draw on these backstop funds.

Since the whole economic system is a confidence game, you would think the administrators would coordinate before going in front of cameras, but after all, it is a clown show! We shall see what this week holds.

[theluckycountry]

Since the whole economic system is a confidence game, you would think the administrators would coordinate before going in front of cameras, but after all, it is a clown show! We shall see what this week holds.

It's not a clown show at the Top, the big corporations and banks on the Planet have been making money hand over fist all along. Down at the level of stooges like Yellen it hardly matters what goes on. If the wrong words are said all it takes is a couple of days of War news or Weather porn and the public will have forgotten anything.




Consider the first time you watch this as the GFC

https://pt.memedroid.com/memes/detail/3 ... 0-VEZES-JA

[Plantagenet]

Since the whole economic system is a confidence game, you would think the administrators would coordinate before going in front of cameras, but after all, it is a clown show! We shall see what this week holds.

You are 100% right

AND the lack of coordination between our fearless leaders continues.

Biden just gave a speech blaming everything on Trump (Biden may be a liar but at least he is consistent....).

But then Barney Frank, a man who was once one of the leaders of the Ds in Congress, and who retired to a poshy job as director at the Signal Bank in New York---a bank that was just taken over by the government, said Trump had nothing to do with it. Barney Frank (D) says the problem with the banks originated with the collapse of the crypto currencies....ie. Barney frank is essentially saying that the collapse of crypto was a Lehman moment. That sounds reasonable to me since I saw this coming as soon as FTX crypto bank went down (see my title for this thread above).

And then the FED, who clearly failed at their job of regulating the banks, announced that they were going to investigate themselves (!) to find out why they have failed at regulating the banks.

There is more than enough blame to go around there.....but curiously everybody is pointing in a different direction!


The Fed is honestly taking responsibility for their own failure to regulate the banks....in contrast senile old Joe Biden is once again trying to shift the blame for the failures of his administration to .....who else.....Trump.....

Cheers!

[theluckycountry]

http://www.save-a-patriot.org/files/view/whofed.html