The Biden bailout that Biden claims isn’t happening is happening. Don’t doubt me on this. Taxpayer dollars are bailing out Silicon Valley, 1500 climate change companies, and celebrities. We put up some outstanding analyses on the issue by Dr. Joe Bentivegna on this link.
Biden will say anything, and he’s not honest. He proved it again today. He read off the teleprompter, “No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund.”
American taxpayers pay the fees. The government has NO MONEY. All their money is our money. They do not create anything.
BREAKING: Western Alliance Bancorp drops lower during President @JoeBiden speech in which he assured Americans the banking sector is safe. Silicon Valley Bank has already collapsed. The problems seem to be spreading. Reporters asked Biden whether there will be a ripple effect and… https://t.co/fUSCwdVUjM pic.twitter.com/82YbaYS5xk
— Simon Ateba (@simonateba) March 13, 2023
Biden lied to you and then complimented himself for his fast action. All he’s doing is making every American pay for their lost assets. Ironically, the CCP has a lot of assets in the bank, so they’ll be paid back too at taxpayer expense. Forget small businesses. It’s not about them; it’s mostly a bailout for Silicon Valley and celebrities.
We are, as we wrote earlier and quoting Dr. Joe Bentivegna, in the hands of “corporate overlords and Wall Street grifters.”
In the clip above, Biden claims this is how capitalism works. It’s not capitalism. It’s crony capitalism. aka socialist capitalism. Biden mentions Dodd-Frank. Dodd and Frank arranged for bail-ins instead of bailouts. He blamed Donald Trump, but Biden is responsible for allowing banks to behave recklessly. Joe Biden allowed it, not Donald Trump. Biden is now going to have Americans bail out the banks in the form of fees.
The government FDIC and the Federal Reserve will bail out the Silicon Valley Bank and, in some measure, the Signature Bank, another super-wealthy person’s bank.
There should be no bailout what-so-ever beyond FDIC Insurance until Bank Management and Federal Regulators are in Jail.
The real problem is that the fractional reserve banking system is nothing but a Ponzi Scheme that allows the Money Manipulators to lend Money that doesn’t exist. Banks should be 100% funded and at least 50% should be in hard cash. The rest can be in hard assets.
A fallacy is that the FED has Money, when in fact it just has worthless IOUs like the Social Security System. The Federal Government spends more money than it CAN collect in taxes creating a fake economy fueled by worthless money. The Fed buys the worthless IOUs. The worthless money then dilutes the value of the money already in circulation resulting in inflation. This allows the Money manipulators to make Trillions with zero skin in the game because the Taxpayer is forced to bail out the Money Manipulators, i.e. the Bankers and the Stock Markets.
The only way to save the American Economy is a balanced budget that also reduces the National Debt by 1 Trillion Dollars a Year until the National Debt is ZERO. That would require capping the Military at 2% of GDP and cutting discretionary spending by at least 75%. No more Caviar and Champagne for the Federal Government. Anything Less will result in the collapse of the Social Security / Medicare system because the Federal Governmetn can’t pay what it owes Social Security and Medicare. Without a Balanced Budget and a Pay Down of debt, we will see the Collapse of the US Dollar before 2025!
The Biden Administration fix will be WWIII if we don’t Balance the Budget Immediately!
Years from now honest historians will say that Democrats stole the 2020 election and then destroyed the economy.
To democrats hiring men who wear women dresses is more important than making sure the economy is healthy.
Brace yourselves because the next few years will be very rough, democrats are not done destroying everything they can put their hands on.
and once the USA economy is weak, it will cause many other economies to become weak as well.
That stolen election may cause a world wide economic crash.
With little push back from Republican leaders which makes them complicit!
The vast majority of Americans are simpletons, so they’ll believe what Biden said.