Posted on 05/13/2023 4:30:52 PM PDT by ChicagoConservative27
During an interview with Bloomberg on Friday, Treasury Secretary Janet Yellen responded to a question on whether she has confidence that no other regional or small banks will fail by stating that she doesn’t want to get into “the situations of individual banks.” But overall, the banking system is in good shape and “banks are going to be able to survive this, but we’re monitoring the situation very, very carefully.”
Yellen stated that the banks that have failed “have had some very unique characteristics that have made them vulnerable” and had profiles that are “not very common. But, look, a lot of banks, particularly regional banks, are seeing their earnings come under pressure. The amount that they’re having to pay for deposits is rising, and, in many cases, their investments are at lower interest, and their stock prices are coming under pressure. But most banks now — even including the ones that are seeing pressure on their stock prices — have solid liquidity, would be able to manage paying off uninsured depositors if they were to flee.”
(Excerpt) Read more at breitbart.com ...
That dingdong helped cause this mess
WHEW. I am relieved. I will go out and borrow 65,000 dollars on an adjustable rate loan to buy an electric vehicle....
I feel much better now.
Yeah....’cause this witch never lies.
In other words:
Most if not all banks are going to FAIL in short order, get your money out while you can.
YELLEN DOUBLETALK is VERY SPECIAL DOUBLETALK-—
For all 5/13/2023, 3:20:16 PM · by Jim Robinson Please get your donations in and let's get 'er done! Way to go FReepers! Thank you all very much! God bless.
For all
5/13/2023, 3:20:16 PM · by Jim Robinson Please get your donations in and let's get 'er done! Way to go FReepers! Thank you all very much! God bless.
It’s all totally normal. Blood has always been dripping from the ceiling. It’s all just fine. Nothing to see here. All is well.
“Yellen: ‘Most Banks’ Can Handle Uninsured Depositors Fleeing, Won’t Say No More Will Fail”
seriously? depositors fleeing is the very definition of a bank run ... period ... it forces a bank to sell it’s paper (if it even can) ... and if sold at a big loss, there’s not enough money to return to the depositors ... and that’s all she wrote folks: bank goes tits up
every day, Yellen proves she’s an even bigger moron than what everybody believed the day before ...
Their plan is to falsely project small bank failures so you will gravitate toward larger banks who are in the tank with the rats and their agenda to control your money and your life. Look at Canada
Can’t say no more will fail? WTF? All of a sudden lying is beneath her?
"Remain calm. All is well. ALL IS WELL!!"
She is a mouth piece. She repeats what she is told to say.
Yes, it is true that there has never been a time in my lifetime when there was a banking panic. (I’m 75)
There have been large bank failures. The Republic of Texas failed during an oil slump. A relative of mine took some big losses. The Feds did not like the way the oil patch banks operated, they had too much independence. They cut them no slack.
We have not forgotten that.
I was not involved.
But I have seen several oil slumps in my lifetime. Normally they don’t last long.
The ComDems absolutely hate the oil producers, that is why they tell the Big Green Lie. They want to destroy all sense of independence.
Ed Dowd: “Were in a crisis, and the crisis is now starting to manifest in bank failures.” (Apr 26, 2023)
He knows the banking and capital market. He is saying the Fed wants to wind up with about 6 major banks surviving.
And that it is connected to the FedNOW and central electronic banking.
It is not about banking, it is about total control.
No illusions please.
Every bank failure in the history of our country, had an ‘expert’ saying “all is well.”
We’re currently in the biggest inflationary cycle in our history. No other inflationary cycle comes close to the “run up” from the Great Depression & Post WW2 to 2023.
If the monetary power chooses deflation, bank crashes will be part of the equation.
Historically, hiking interest rates & cutting the supply of money will get you a deflationary economy.(I doubt this option will happen)
“That’s the way it works.”
Agree.
The road out of this mess is energy.....energy independence, specifically.
Yep.
and put it where? If you have a few thousand you can get cash. If you have a few tens of thousands you can get cash and gold, but commissions to buy and sell gold will eat a big chunk of your money. Stocks general collapse and they'll go belly up. Real estate? High commissions and the government extorts you every year. Crypto? Good way to lose it. So where would you put $100k, a million? 10 million?
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