I can't help seeing her in my head practically groveling while shaking hands with Zelensky. What possible need could there be for the Secretary of the Treasury _of the United States of America_ have for personally meeting with him? Especially in the Ukraine?
These people don't do anything but trade favors. "The Aristocracy of Pull," as a chapter title in _Atlas Shrugged_ puts it.
She went over to collect her part of the haul, from laundering funds sent to Ukraine. Along with all the other 'high profile visitors' lately from the US.
Used to be, they could just have the funds transferred discreetly to their numbered account somewhere. But Putin has shut down the banks that were doing this, so now they need to attend in person. Probably getting their cut in gold, they know better than to take USD.
Bill Clinton made a lot of money off of speaking engagements; he didn't have much to say either. There's a youtube documentary called something like 'clinton cash'; the backer money comes from certain Republicans but that doesn't make it not true.
Ha, along those lines I was going to say it's been amazing to me the 'non-story' - even from 'Republican backed $' - that the corruption of the 'Clinton Global Initiative' (and 'Clinton Foundation' in general) was/is, but hey, evidently looks like the CGI is making a come back in 2023! I guess 6 years is a long enough layoff before re-starting the grift with impunity.
another fun fact: of the prior 7 presidents, 5 were verifiably wealthy prior to embarking on political careers. 2 professed poverty upon entering the Whitehouse (though their lifestyles suggested otherwise) and by the time they left office had amassed considerable personal wealth (expensive residences, private jets, etc).
If this whole Mongolian cluster over the last few decades doesn’t convince you that the paper fiat currency - central bank - incompetent experts system is a giant dreck flavored ponzi scheme, you’re either not very bright or you’re not paying attention.
Gold, Bitcoin, traditional fossil fuels, commodities, real estate, other alternative assets. No Mongolians we’re harmed in this comment. All our Mongolians are free range eagle hunters and LEED certified. They do not offer investment advice.
The permanent bureaucracy and neo-Marxist ideologues in government- in medicine, finance, energy, airlines, tech, whatever - pick your sector, they want a handful of big players with which they can have a symbiotic relationship to solidify the corporatist paradigm. The last thing they want are thousands or millions of independent players with their own agendas. So every crisis is treated as an opportunity to consolidate power and eliminate the independents.
I dare you to listen to Yellen for 1 minute and come back and tell us she is nothing but an ignorant idiot who spouts the talking points written for her. We are in real trouble folks.
And that somehow makes her different from the rest of Brandon's appointments? At least Yellen nominally has some relevant experience, which most do not (think Mayor Pete).
You are right. Thus my use of the word 'nominally.'
Larger point, as you imply, is none of them have any real experience at doing anything useful. GOP presidents don't do a lot better, there's a great deal of 'credentialism' -- one of Gato's favorite peeves -- wherever you look in the echelons of power.
Gato had a recent post about why A's hire A's and B's hire C's. It is all about eliminating excellence and meritocracy and replacing them with cronyism and plunder.
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”
Bastiat pegged Yellen's true role (and that of the rest of her swineherd) perfectly:
"To rob the public, it is necessary to deceive them. To deceive them, it is necessary to persuade them that they are robbed for their own advantage, and to induce them to accept in exchange for their property, imaginary services, and often worse."
~ Frédéric Bastiat
The State cannot exist without theft, so every action it takes, everything it says, and everyone it "employs" all contribute, one way or another, to this one end.
I agree, got any suggestions? How do we fix these corrupt elections. The only way I can think of is we have to start beating them at their own game. I really hate to get in the mud with them 😒 but this is war now, the gloves gotta come off. Maybe you have other ideas?
“Never wrestle with pigs. You both get dirty and the pig likes it.”
― George Bernard Shaw
We can't beat them at their game, where all the rules are rigged in their favor. It has to be done by eliminating the weaknesses (that they have built) they take advantage of to commit fraud.
If your state uses ERIC (or even if they don't), contact your state officials (and tell your friends to do it too) and tell them about Jay Valentine's alternative:
My real question is: how do you use any of the assets ( I love my credit union!) If when they institute CBDC, they only allow you to make payments and purchases in eUSD?
Good question. And what happens to an economy when a large swath of people-- lets say 1/3 decide that if they have to use CBDCs that they just won't make payments? Will they foreclose on 1/3 of the houses? Lose 1/3 of their customers? Is that what they want?
No, you people have short memories. The problems from the 2008 financial crisis were never fixed, the entire system is insolvent and this was only a matter of time before it happened again. In fact the system began to collapse again in 2019, late summer/fall. You should have been just as mad about the bank bailouts and all the bullshit from 2008 but most just wanted their bank accounts to have digital money.
The system has been insolvent for a long time, before 2008. They can prop it up for a while, but eventually and inevitably, the scaffold collapses under its own weight and lack of planning.
It was released for a number of reasons, and I don't doubt you are right as to one of them. The Cabal has a long history of kicking the can down the road, but each time the amount of time they've bought has gotten less and less. Which is why their whole System of Systems is about to come crashing down around them -- and us.
Isn't it funny that the bailouts and tarp that MiMi mentions below paled in comparison to the bailouts that happened in 2020 that Mimi prob doesn't even remember because everyone was so focused on not dying from a virus that has a 99.7% survival rate and was obvious once the diamond princess happened?
People only pay attention to stuff like this when it's in the news, and might affect them. Soon enough, they're off to other things.
The Cabal counts on our short memories. If we really knew what they were up to, they know their heads would roll. Which is a distinct possibility, this time 'round, because this is going to get ugly, very soon.
As I recall, people were damn angry about TARP and the bailouts from 2008. But the current situation bears almost no resemblance to what happened then.
Its a continuation of what happened then. And where did it go? Some of us have been banging that drum since it happened. You can't just continue on with your life once your anger fades or you end up where we are. SURPRISE! ;)
MICHAEL HUDSON: This is the corner into which the Fed has painted itself.
We’re in the culminating part of the “Obama depression.” This is what Obama set in motion by bailing out the banks and supporting the banks instead of the economy as a whole.
Obama and Geithner and Obama’s cabinet declared war on the economy by the 1%.
And the amazing thing is that the economy doesn’t see how dangerous what he did was, and how consciously he sold out the voters that have put trust in them — to do everything he could to hurt them, because the degree to which he could hurt the economy was the degree to which the 1% or the 10% was able to make the killing that you just showed in the asset price inflation chart.
So this is not the class interest that Marx talked about. It’s not the class interest of employers versus wage earners.
It’s the finance class allied with the real estate and insurance class — the FIRE section — against the economy at large — the real economy of production and consumption.
That is what we’re seeing, and something has to give.
And in every case both the Republicans and the Democrats say, “If something has to give, we’re willing to shrink the economy in order to protect the the financial, insurance, and real estate sector from taking a loss, because that’s where the 10% have it’s assets.”
We’re not in industrial capitalism anymore —we’re in finance capitalism. And the way that finance capitalism works is very different from the dynamics of industrial capitalism as was forecast in the nineteenth century.
I feel at least I've lived long enough, and read enough about times before mine, to see politicians and appointees from both sides of the aisle be such morons, when the time called for a little basic common sense, that I can reasonably hope for no rescuer to arise anywhere.
We gotta stop believing in national elections as the cure and start rebuilding good structures from the most local of foundations, but this will take a long time, and this is why I take my vitamins.
Any man who can quote "Blazing Saddles" when needed gets placed high in my estimation.
But I'll say this. In the big things we have no control; that's been true since the molten planet started to cool a little and prepare the way for us to come along eventually.
But each one of us, in a lot of the moments that make up each day, is often called on to make a choice, and these little choices make the road for good or ill, and put all our choices together into society, and each of us has had a part in it.
A lot of the bad things that happen in history, they started with someone smacking his kid around just a little too much and that kid neither liked it nor forgot, and unfortunately he ended up revenging himself on the wrong people.
Too big to fail is too big, and I hope they fail. For real. The lesson I learned from 2008 was that we should have let them fail, and then pick up the pieces. Would have been a better result. But, no. We got that piece of shit TARP instead.
Quick Question: Has anyone seen Jamie Gorelick lately? For real, where she at?
"Too big to fail is too big, and I hope they fail." Too big to save, I think. Clearly no one learned the lesson.
In the case of SVB they bailed out BigDemDonors and a bunch of ESG and Green Tech companies not only because they're largely BigDemDonors but also because SVB was overleveraged in ESG-EnviroWarrior stocks that, it turns out, don't make money.
That would be a difficult to thing to acknowledge while simultaneously touting One Million Good Union Jobs in Green Energy.
1. If the average person knew that banks in the U.S. were permitted to keep 0% of their assets in reserve during the plandemic (and is STILL the case), 95% of people would make a run on their bank.
2. If they listened to Janet Yellen, they would just burn their cash.
"If they listened to Janet Yellen, they would just burn their cash." - Actually, I suspect most people with the intestinal fortitude to "listen to Janet Yellen" would simply shrug and keep working on their escape capsule.
" Since March 2020, the reserve minimum has been zero, suggesting that the Federal Reserve is comfortable with the level of cash kept voluntarily by the nation's banks combined with the 30-day liquidity coverage ratio required by the Basel Accords."
This "Inevitable Collapse of Capitalism due to Everyone Supporting Such an Economy Being Big Mean Poopy Heads" will eventually, gradually then suddenly, be used to justify (1) dictatorially going cashless, and (2) nationalizing banks.
Medical Freedom Movement. They ignore the underlying agenda of social impact markets and the ongoing devastation that is meant to insure in CBDC and out us essentially on blockchain, commodities to be managed by the technocracy.
She seems to be less able to actually talk about financial operations than I, and I admit to being a dummy. She is an embarrassment. I'm a little, old lady and I don't want her representing my demographic.
Agree. The people who hold power today are caricatures - personifications of ineptitude, obtusity, and graft. No matter which "side" you're on, the whole is a demoralizing force.
For the top 3%, the Fed has your back. For the other 97%, you exist for the sole purpose of keeping the top 3% in the money. You have to understand that the Fed can never tell the truth to the public for fear of a panic that would disrupt the top 3% and their nefarious actions.
All government bailouts are taxpayer/consumer funded in some way. The big banks may help by offering to buy out the smaller banks in trouble, and it will be rising fees and less interest payouts that will fund those bailouts.
"Gas prices are high due to gas prices not being low as before. To get back to lower prices we have to acknowledge gas is high which is the opposite of low."
WTH is in the air in DC? Old people babble and spout nonsense daily! Terrifying that these geezers are in charge of anything. Give them pudding cups and send them home.
The big issue is that NO ONE who is a member of the Federal REserve, should be in charge of FISCAL policy....EVER. It is an inherent conflict of interest and an ursurpation of the fiscal responsiblity of the government. THEY are supposed to do MONETARY policy...but YELLEN is DOING BOTH.
Fun fact - Janet Yellen and Victoria Nuland both went to Brown. One prints the money, the other funnels it into the war machine.
fun fact:
yellen made more in speaking fees from citadel alone than she'll make from treasury.
she made $7 million in 2 years.
given that she never seems to have anything interesting to say, i wonder what these titans of finance are paying top dollar for?
https://www.theguardian.com/business/2021/jan/01/janet-yellen-speaking-fees-us-treasury-secretary#:
This has to be graft.
I can't help seeing her in my head practically groveling while shaking hands with Zelensky. What possible need could there be for the Secretary of the Treasury _of the United States of America_ have for personally meeting with him? Especially in the Ukraine?
These people don't do anything but trade favors. "The Aristocracy of Pull," as a chapter title in _Atlas Shrugged_ puts it.
She went over to collect her part of the haul, from laundering funds sent to Ukraine. Along with all the other 'high profile visitors' lately from the US.
Used to be, they could just have the funds transferred discreetly to their numbered account somewhere. But Putin has shut down the banks that were doing this, so now they need to attend in person. Probably getting their cut in gold, they know better than to take USD.
Oh, but everyone knows Atlas Shrugged is not realistic.
Except we see it playing out right before our eyes.
She wrote some great villains. Sure James Taggart is awful but the worst are like Dr. Floyd Ferris.
Ellsworth Tooey from The Fountainhead is the worst also.
Her sparkling insights and personality, of course
possibly elocution lessons?
https://twitter.com/SeidlerCorp/status/1636518949872451584?s=20
OMG. HAHAHAHAHAHAHA!
That's a real silver-forked-tongue-tied-slip-twister for ya
🤣🤣🤣🤣
Bill Clinton made a lot of money off of speaking engagements; he didn't have much to say either. There's a youtube documentary called something like 'clinton cash'; the backer money comes from certain Republicans but that doesn't make it not true.
Ha, along those lines I was going to say it's been amazing to me the 'non-story' - even from 'Republican backed $' - that the corruption of the 'Clinton Global Initiative' (and 'Clinton Foundation' in general) was/is, but hey, evidently looks like the CGI is making a come back in 2023! I guess 6 years is a long enough layoff before re-starting the grift with impunity.
Plus, she’s eye candy.
LOL!!
another fun fact: of the prior 7 presidents, 5 were verifiably wealthy prior to embarking on political careers. 2 professed poverty upon entering the Whitehouse (though their lifestyles suggested otherwise) and by the time they left office had amassed considerable personal wealth (expensive residences, private jets, etc).
Yes, how often have you thought to watch a Yellen speech on YouTube? Or seen any intellectual content producer share something she said?
Fauci is the same, they speak in a cadence that makes you stop listening and forget the question.
Check out the story about the London Metal Exchange finding bags of stones where they expected actual nickel.
A bribe is still a bribe, even if you do it in the open and call it a speaking fee.
Or, alternatively:
"20 Bucks is 20 Bucks."
oh, i'm pretty sure that's just seed money for services of..... welll, ya knoww, just like the Hunter LLCs, it's for.... oh, you see what i mean...
fehfukksakes, just stop the innuendos and misinformation already!!
"Give me control of a nation's money and I care not who makes her laws."
~ Mayer Amschel Rothschild
If this whole Mongolian cluster over the last few decades doesn’t convince you that the paper fiat currency - central bank - incompetent experts system is a giant dreck flavored ponzi scheme, you’re either not very bright or you’re not paying attention.
Gold, Bitcoin, traditional fossil fuels, commodities, real estate, other alternative assets. No Mongolians we’re harmed in this comment. All our Mongolians are free range eagle hunters and LEED certified. They do not offer investment advice.
End the Fed!
LEED certified lmao!
Clue a gal in?
It's an accreditation for building "green". Total scam
I think you pretty much nailed it. I touched on this today as well. I like you hedge choices btw https://faybomb.substack.com/p/what-if-i-told-you-this-is-all-a
The permanent bureaucracy and neo-Marxist ideologues in government- in medicine, finance, energy, airlines, tech, whatever - pick your sector, they want a handful of big players with which they can have a symbiotic relationship to solidify the corporatist paradigm. The last thing they want are thousands or millions of independent players with their own agendas. So every crisis is treated as an opportunity to consolidate power and eliminate the independents.
Indeed!
SPOT ON!!!
I dare you to listen to Yellen for 1 minute and come back and tell us she is nothing but an ignorant idiot who spouts the talking points written for her. We are in real trouble folks.
And that somehow makes her different from the rest of Brandon's appointments? At least Yellen nominally has some relevant experience, which most do not (think Mayor Pete).
Yea, her "relevant experience" is never running so much as a taco truck and suckling on the taxpayer teat her entire life.
The perfect pedigree for the parasite class.
You are right. Thus my use of the word 'nominally.'
Larger point, as you imply, is none of them have any real experience at doing anything useful. GOP presidents don't do a lot better, there's a great deal of 'credentialism' -- one of Gato's favorite peeves -- wherever you look in the echelons of power.
Don’t you wonder how in god did she ever get into any position of power. Is her talent solely the ability to regurgitate democratic talking points?
Gato had a recent post about why A's hire A's and B's hire C's. It is all about eliminating excellence and meritocracy and replacing them with cronyism and plunder.
https://boriquagato.substack.com/p/the-glorification-of-sub-mediocrity
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”
― Frédéric Bastiat
Just so.
Bastiat pegged Yellen's true role (and that of the rest of her swineherd) perfectly:
"To rob the public, it is necessary to deceive them. To deceive them, it is necessary to persuade them that they are robbed for their own advantage, and to induce them to accept in exchange for their property, imaginary services, and often worse."
~ Frédéric Bastiat
The State cannot exist without theft, so every action it takes, everything it says, and everyone it "employs" all contribute, one way or another, to this one end.
One this truth is seen, it is difficult to unsee.
Correct.
Powell just announced the Fed will raise rates 25 bp next week.
https://www.thegatewaypundit.com/2023/03/federal-reserve-to-raise-interest-rates-25-basis-points-amid-banking-crisis/
Gold is just shy of $2000, up almost 4% on the day.
Silver up ~4.5%.
BTC up 8% and running...
The truth always wins. Sometimes it takes a while, but the truth will out.
Everyone in the Biden administration has failed upward! When will this clown show end. This is effing Twilight Zone shit!
The clown show ends when enough people decide to take election integrity seriously. Too many complainers and not enough doers.
I agree, got any suggestions? How do we fix these corrupt elections. The only way I can think of is we have to start beating them at their own game. I really hate to get in the mud with them 😒 but this is war now, the gloves gotta come off. Maybe you have other ideas?
“Never wrestle with pigs. You both get dirty and the pig likes it.”
― George Bernard Shaw
We can't beat them at their game, where all the rules are rigged in their favor. It has to be done by eliminating the weaknesses (that they have built) they take advantage of to commit fraud.
If your state uses ERIC (or even if they don't), contact your state officials (and tell your friends to do it too) and tell them about Jay Valentine's alternative:
https://www.omega4america.com/
https://www.americanthinker.com/articles/2022/11/heres_how_they_did_it_realtime_election_fraud.html
If they cannot create hundreds of thousands of 'phantom voters,' they can't manufacture enough ballots to win.
You're just now figuring that out?
And yet, my prediction for the future is: "Spring of 2024 - President Yellen impeached for the second time, without conviction"
Trump will eat her alive in the 2024 election, if that is the case.
Credit unions.
Gold.
Silver.
Cash in hand.
Screw the preferred partners of the usgov and their upcoming CBDC plans.
My real question is: how do you use any of the assets ( I love my credit union!) If when they institute CBDC, they only allow you to make payments and purchases in eUSD?
Good question. And what happens to an economy when a large swath of people-- lets say 1/3 decide that if they have to use CBDCs that they just won't make payments? Will they foreclose on 1/3 of the houses? Lose 1/3 of their customers? Is that what they want?
These are the pivots we need to be gaming,Shibumi.
If need be to force compliance, I would not put it past them.
But we will see; [they] are weak and losing ground. This is all happening before they are ready.
Boom
Bingo! 💖
Yellen's an idiot. But SVC created their own mess by mismanaging risk. And it appears that Peter Thiel and Jamie Dimon started the bank run.
SVB is exactly what you would expect to get, when all the bank execs are wokesters, and the board all major DNC donors.
Not to mention that the CEO was on the board of the San Francisco Federal Reserve.
No, you people have short memories. The problems from the 2008 financial crisis were never fixed, the entire system is insolvent and this was only a matter of time before it happened again. In fact the system began to collapse again in 2019, late summer/fall. You should have been just as mad about the bank bailouts and all the bullshit from 2008 but most just wanted their bank accounts to have digital money.
The system has been insolvent for a long time, before 2008. They can prop it up for a while, but eventually and inevitably, the scaffold collapses under its own weight and lack of planning.
Which is where we are today.
At this point i'd be willing to say in court that covid was released to postpone what is going on now.
It was released for a number of reasons, and I don't doubt you are right as to one of them. The Cabal has a long history of kicking the can down the road, but each time the amount of time they've bought has gotten less and less. Which is why their whole System of Systems is about to come crashing down around them -- and us.
Isn't it funny that the bailouts and tarp that MiMi mentions below paled in comparison to the bailouts that happened in 2020 that Mimi prob doesn't even remember because everyone was so focused on not dying from a virus that has a 99.7% survival rate and was obvious once the diamond princess happened?
People only pay attention to stuff like this when it's in the news, and might affect them. Soon enough, they're off to other things.
The Cabal counts on our short memories. If we really knew what they were up to, they know their heads would roll. Which is a distinct possibility, this time 'round, because this is going to get ugly, very soon.
You're right
Moral hazardous....waste
As I recall, people were damn angry about TARP and the bailouts from 2008. But the current situation bears almost no resemblance to what happened then.
Its a continuation of what happened then. And where did it go? Some of us have been banging that drum since it happened. You can't just continue on with your life once your anger fades or you end up where we are. SURPRISE! ;)
Read this:
https://www.nakedcapitalism.com/2023/03/michael-hudson-talks-to-ben-norton-about-svb-and-bank-failures.html
MICHAEL HUDSON: This is the corner into which the Fed has painted itself.
We’re in the culminating part of the “Obama depression.” This is what Obama set in motion by bailing out the banks and supporting the banks instead of the economy as a whole.
Obama and Geithner and Obama’s cabinet declared war on the economy by the 1%.
And the amazing thing is that the economy doesn’t see how dangerous what he did was, and how consciously he sold out the voters that have put trust in them — to do everything he could to hurt them, because the degree to which he could hurt the economy was the degree to which the 1% or the 10% was able to make the killing that you just showed in the asset price inflation chart.
So this is not the class interest that Marx talked about. It’s not the class interest of employers versus wage earners.
It’s the finance class allied with the real estate and insurance class — the FIRE section — against the economy at large — the real economy of production and consumption.
That is what we’re seeing, and something has to give.
And in every case both the Republicans and the Democrats say, “If something has to give, we’re willing to shrink the economy in order to protect the the financial, insurance, and real estate sector from taking a loss, because that’s where the 10% have it’s assets.”
We’re not in industrial capitalism anymore —we’re in finance capitalism. And the way that finance capitalism works is very different from the dynamics of industrial capitalism as was forecast in the nineteenth century.
And there's this opinion piece from the WSJ that claims "One entrepreneur says the bank was offering ‘basically subprime business loans.’"
https://www.wsj.com/articles/did-esg-help-sink-svb-progressive-climate-bank-bailout-federal-reserve-treasury-biden-insurance-9db64b0b?st=plhbtirc6ilt7tk&reflink=desktopwebshare_permalink
I feel at least I've lived long enough, and read enough about times before mine, to see politicians and appointees from both sides of the aisle be such morons, when the time called for a little basic common sense, that I can reasonably hope for no rescuer to arise anywhere.
We gotta stop believing in national elections as the cure and start rebuilding good structures from the most local of foundations, but this will take a long time, and this is why I take my vitamins.
SCA, Well put...I hear you!
My wife was worrying about our investments and finances decisions lately because of the bank failures and Covid and WW3 and ...etc.
I just told her my favorite and most quoted line from Mel Brooks’ “Blazing Saddles”:
“Mongo merely pawn, in game of life.” ❤️😢
Any man who can quote "Blazing Saddles" when needed gets placed high in my estimation.
But I'll say this. In the big things we have no control; that's been true since the molten planet started to cool a little and prepare the way for us to come along eventually.
But each one of us, in a lot of the moments that make up each day, is often called on to make a choice, and these little choices make the road for good or ill, and put all our choices together into society, and each of us has had a part in it.
A lot of the bad things that happen in history, they started with someone smacking his kid around just a little too much and that kid neither liked it nor forgot, and unfortunately he ended up revenging himself on the wrong people.
Would you mind explaining the value of the quotes to my bride?
In the meantime, I'll continue to foist them on my daughters.
Well, you chose her, right? There must be something of pleasant concordance that would let you give her an allowance on little particularities.
I did indeed. The daughters meet that criteria I reckon.
And in her defense, her parents could have been any of the Johnsons from Rock Ridge.
So might not be as tickled by it with it hitting close to home...
Too big to fail is too big, and I hope they fail. For real. The lesson I learned from 2008 was that we should have let them fail, and then pick up the pieces. Would have been a better result. But, no. We got that piece of shit TARP instead.
Quick Question: Has anyone seen Jamie Gorelick lately? For real, where she at?
"Too big to fail is too big, and I hope they fail." Too big to save, I think. Clearly no one learned the lesson.
In the case of SVB they bailed out BigDemDonors and a bunch of ESG and Green Tech companies not only because they're largely BigDemDonors but also because SVB was overleveraged in ESG-EnviroWarrior stocks that, it turns out, don't make money.
That would be a difficult to thing to acknowledge while simultaneously touting One Million Good Union Jobs in Green Energy.
All those corrupt bankers needed to get bonuses and TARP helped to pay them.
WE the people need to contact our congresspersons and say NO BAILOUT FO R THE WEALTHY.
The wealthy are the real constituents of congress.
And they will do it anyway.
Two things:
1. If the average person knew that banks in the U.S. were permitted to keep 0% of their assets in reserve during the plandemic (and is STILL the case), 95% of people would make a run on their bank.
2. If they listened to Janet Yellen, they would just burn their cash.
"If they listened to Janet Yellen, they would just burn their cash." - Actually, I suspect most people with the intestinal fortitude to "listen to Janet Yellen" would simply shrug and keep working on their escape capsule.
" Since March 2020, the reserve minimum has been zero, suggesting that the Federal Reserve is comfortable with the level of cash kept voluntarily by the nation's banks combined with the 30-day liquidity coverage ratio required by the Basel Accords."
https://www.investopedia.com/terms/b/bank-reserve.asp
I guess expecting banks to figure out that keeping some cash around is a good idea was a bad idea.
This "Inevitable Collapse of Capitalism due to Everyone Supporting Such an Economy Being Big Mean Poopy Heads" will eventually, gradually then suddenly, be used to justify (1) dictatorially going cashless, and (2) nationalizing banks.
And meanwhile the MFM keeps on about the vaccine as if that were the only problem with what is happening in DC. Good grief. Wake up folks.
what is MFM?
Medical Freedom Movement. They ignore the underlying agenda of social impact markets and the ongoing devastation that is meant to insure in CBDC and out us essentially on blockchain, commodities to be managed by the technocracy.
why keep cash around if they're planning CBDCs? No need.
She seems to be less able to actually talk about financial operations than I, and I admit to being a dummy. She is an embarrassment. I'm a little, old lady and I don't want her representing my demographic.
The powers that be are mocking us putting the pant crapper in the White House along with the jezebel
Agree. The people who hold power today are caricatures - personifications of ineptitude, obtusity, and graft. No matter which "side" you're on, the whole is a demoralizing force.
For the top 3%, the Fed has your back. For the other 97%, you exist for the sole purpose of keeping the top 3% in the money. You have to understand that the Fed can never tell the truth to the public for fear of a panic that would disrupt the top 3% and their nefarious actions.
All government bailouts are taxpayer/consumer funded in some way. The big banks may help by offering to buy out the smaller banks in trouble, and it will be rising fees and less interest payouts that will fund those bailouts.
Alex Berenson wrote a decent substack on this yesterday or the day before. Kicking the can down the road and covering their arses.
There was ZERO systemic risk of failure to other banks with the collapse of SVB. ZERO.
It was a Club of Fat Cat Wokesters who were well in over their head. Same for Signature Bank.
Those banks could have collapsed without any other bank barely even noticing, except to laugh and point that they were such idiots.
BUT, they were Democrat idiots (redundant, I know), and not only that, but DONOR Democrats. So, they get off practically scot-free.
If your company sucks at what it does it should fail. But, Now they’ll all just go get jobs somewhere else and that’ll fail too. Rinse and repeat.
I don’t know who makes me 🤮 the most?
1) Biden
2) Garland
3) Yellen.
Same reptile, different masks.
I, for one, do NOT welcome our Reptilian Overlords.
Now now. They can be quite tasty with proper preparation and saucing.
It's always the sauce. Yum 😋
Never. Incinerate
Why you leave out Kamala ?
Seriously. Talk about an economic brain surgeon:
"Gas prices are high due to gas prices not being low as before. To get back to lower prices we have to acknowledge gas is high which is the opposite of low."
~ Kamala Harris
Her profundity is simply mind-boggling.
Not entirely comfortable with your use of "Kamala Harris" and "mind" in the same paragraph. Cognitive dissonance!
Former Fed chair becomes Secretary of the Treasury...seems I’ve seen this movie before and it didn’t end well then, either. Remember G William Miller?
I think the word you're looking for is "incestuous."
WTH is in the air in DC? Old people babble and spout nonsense daily! Terrifying that these geezers are in charge of anything. Give them pudding cups and send them home.
Reading her actual words made me read it twice. I thought it was parody. My goodness, she said it out loud how inept and corrupt they are.
* she said it
I was wondering!
Banks exist to take your money. Banks act in their own rational self-interest, based on the same of their owners.
A foolish chicken-farmer blames the fox; a wise one builds a better coop.
The big issue is that NO ONE who is a member of the Federal REserve, should be in charge of FISCAL policy....EVER. It is an inherent conflict of interest and an ursurpation of the fiscal responsiblity of the government. THEY are supposed to do MONETARY policy...but YELLEN is DOING BOTH.
So where is Congress, whose duty it is?
Oh, their too busy looking for their next "Kinetically Friendly Fire Show" so they don't have to follow the constitution and call them wars.