Yet more lol

 

hey?

I'll be just as glad to get through the economic stuff 

and move on to geopolitics, space, AI etc as you will lol.

Shit gives me a headache TBH.

The other stuff is much more in my wheelhouse.

But things have to be said, explained etc...

So

First Republic rallies as Yellen says US prepared to give more support

"In an intervention designed to shore up confidence in the banking system after more than a week of turmoil, the US Treasury secretary said guarantees offered to depositors in the failed Silicon Valley Bank could be replicated at other institutions."

(If they didn't know they were gonna have to?

Why are they telling you they:

"Could be"?)

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https://www.ft.com/content/fcfaea32-7288-49f8-acb0-84c846b157d9

“The steps we took were not focused on aiding specific banks or classes of banks,” Yellen said in a speech to the American Bankers Association on Tuesday, which marked her most extensive comments yet on the banking turmoil."

“Our intervention was necessary to protect the broader US banking system,” she added. “And similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion.”

"The Treasury worked with the Federal Reserve and the Federal Deposit Insurance Corporation to provide guarantees for all deposits at failed SVB and Signature Bank, including those higher than the $250,000 threshold that are not covered by government insurance. In addition, the Fed announced a new facility to boost liquidity for struggling banks."

(The Fed is adding to the $ supply with one hand:

"a new facility to boost liquidity"

and fighting it's effects with the other:

raising interest rates to fight inflation.

Aint gonna work.)

"While Yellen defended the “decisive” and “forceful” steps taken by regulators to avert a broader banking crisis in the US, the problems afflicting smaller institutions are far from resolved."

(They are not gonna be resolved yo.

"On March 14, 2018, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act exempting dozens of U.S. banks under a $250 billion asset threshold from the Dodd–Frank Act's banking regulations. On May 22, 2018, the law passed in the House of Representatives. On May 24, 2018, President Trump signed the partial repeal into law."

Why exactly do you think they did that in the first place?

How dense you gotta be to really not understand whats going on here?

We go down.

But first?

All the $ gotta disappear.

It's no different than the gangsters burning down the restaurant in Goodfellas after they had went into business with it's owner, maxed out lines of credit (sound fimiliar) and then burned it down.

Or this scene from Fight Club.

It's the same exact thing thats happening in real life rn.

Except the gangster's are dressed like bankers etc.

)

"Yellen stressed the current turmoil was different to that of the global financial crisis. “Back then many financial institutions came under stress due to their holdings of subprime assets. We do not see that situation in the banking system today,” she said. “Our financial system is also significantly stronger than it was 15 years ago. This is in large part due to post-crisis reforms that provided stronger capital standards, among other important improvements.”

("We do not see that situation in the banking system today"

The fish in deep sea doesn't know there's air at the top either.

Just because you dont see that situation today?

Doesn't mean there aren't other issues that will catch you off guard.

The white collar criminals?

They always figure out a way to outwit the regulators.

By the time the regulators get around to figuring it out?

To late.

And that's what we got going on here w things that never should have been happening happening...The risk simply got moved to smaller/regional banks where they weren't being watched as closely. Accident? Come on now...we all know better than that by this point.

And?

"This is in large part due to post-crisis reforms that provided stronger capital standards, among other important improvements.”

has already been addressed in an earlier post.)

"Yellen pointed to the importance of small and midsized banks to the US economy. A concern in recent days has been that the current crisis would strengthen larger financial institutions at the expense of smaller ones."

(You can count on it.

Credit unions.

Local $.

Non profit etc.)

"As well as aiding individual bank depositors, US officials are also debating whether they need to take additional steps to restore confidence, including increasing or removing the $250,000 cap for deposits insured by the FDIC."

(They are re-writing the rules that govern the banking sector right in front of your eyes. If that doesn't give it away to you? What ever will then?)

"Congressional support would be required for such a step unless Biden administration officials find a way to adopt the measure by executive action. In her speech, Yellen nodded to the potential for new banking reforms to strengthen regulation in the sector."

(Why would that be needed if:

“Our financial system is also significantly stronger than it was 15 years ago. This is in large part due to post-crisis reforms that provided stronger capital standards, among other important improvements.”

and why do we always seem to:

"strengthen regulation in the sector"

Only after the fact?

“We are currently focused on the situation at hand. But we will need to re-examine our current regulatory and supervisory regimes and consider whether they are appropriate for the risks that banks face today,” she said.

Again,

if this is so true:

“Our financial system is also significantly stronger than it was 15 years ago. This is in large part due to post-crisis reforms that provided stronger capital standards, among other important improvements.”

then  why would we ever need to:

"...re-examine our current regulatory and supervisory regimes and consider whether they are appropriate for the risks that banks face today."

Cognitive dissonance there much Mrs. Yellen?

Dictionary

Definitions from Oxford Languages

 cognitive dissonance

cog·ni·tive dis·so·nance

/ˈkäɡnədiv ˈdisənəns/

noun 

PSYCHOLOGY

the state of having inconsistent thoughts, 

beliefs, 

or attitudes, 

especially as relating to 

behavioral decisions 

and attitude change.