Biden Kills the USA and the Banks


Why did three banks fail with so many still in danger?

Biden did it. He spent wildly, destroying the foundation of our most lucrative energy sector and causing inflation. Inflation meant the Feds would try to slow it down or stop it. That led to the failure of investments in the bond market.

By the way, inflation is still going up every month, and Biden wants nearly $7T to waste more and drive up inflation.

The banks went from you must have the total reserve to fractional is okay to credit-based and finally to backed by the money printer. They over-invested in bonds and had too many old bonds with very low-interest rates. While the wasteful WOKE projects, particularly ESG, are part of the problem, they aren’t the immediate problem. But they shouldn’t be ignored, either. Hire the best people, not by unimportant physical characteristics. Don’t virtue signal. Do the right thing.

“Community banks all over the US invest conservatively & offer lower returns. SVB took big risks, offered higher returns & funded trendy woke BS. Their execs & wealthy tech clients reaped the rewards and bear no consequences for the loss. Responsible banks & their clients get nothing,” Stephen Miller says.

Less female WOKE biking, more proper banking. [[File:2019 Women’s Tour – Team TIBCO-Silicon Valley Bank.JPG|2019_Women’s_Tour_-_Team_TIBCO-Silicon_Valley_Bank]]
The bank executives were oblivious to the bond market problem as interest rates increased. The regulators were asleep at the wheel. We still can’t find them.

As far as Biden saying we have money to save all the banks, you can’t take that seriously. The FDIC has about a $128 billion balance with about $650 billion in unrealized losses in the banking system.

And when he says taxpayers are off the hook, he isn’t telling the truth. The government has NO money but that of American taxpayers.

Every bank has the same problem.

James Hickman of Sovereign Research, writing under the pen name Simon Black called US government bonds “toxic securities.” He notes that SVB invested $119.9 billion in US government bonds. As interest rates rose, the bonds lost interest.

SVB had $16 billion in total capital and $15 billion in unrealized losses. It was a wipeout.

Every bank is in the same pickle jar fermenting. The fear is this will be an excuse to go to Central banking and digital dollars, destroying our freedoms.

SVB and Signature and Silvergate are not alone, says Black or Hickman. For instance, Wells Fargo lost $50 billion in these toxic securities – US government bonds. Anyone who purchased them is sitting on huge losses.

The long-term bond market was the problem.

All of the banks promote woke stupidity. It is now systemic. Every major banking institution advances these bizarre ruling-class priorities. But it is ignorant and reckless leaders who lack foresight that are the biggest problem.

As long as they’re not white men, we’re good. [sarcasm]

These bailouts aren’t legal, but they will keep happening. Socialism is here. We see a future with foreigners steering clear of investments in the US – if they’re smart. We have a pathetic being in the Oval Office with Barack Obama and George Soros behind the curtain. As we lead Europe further down the rabbit hole with ever more sanctions that only hurt the West and blow money funding a corrupt war in a corrupt nation, countries like Saudi Arabia pull away from our weaponized SWIFT financial system. Black clouds bearing diminished dollars and our reserve status threatens us with poverty.

But, hey, we’re not ageists; we have an aged man with dementia in the presidency.

Let the class action lawsuits begin!

ABC News informs us that a class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO, and its chief financial officer, saying that the company didn’t disclose the risks that future interest rate increases would have on its business.

CEO Greg Becker deserves to be sued. He took off with millions. The same goes for CFO Daniel Beck.

The lawsuit said that annual reports for 2020 through 2022 “understated the risks posed to the company by not disclosing that likely interest rate hikes, as outlined by the Fed, had the potential to cause irrevocable damage to the company,” the lawsuit stated.

It also claims that the company “failed to disclose that, if its investments were negatively affected by rising interest rates, it was particularly susceptible to a bank run.”

To be fair, if you are going to invest, you need to be at least smart enough to know bonds will be worth less as interest rates rise. Investors also bear responsibility.

The only people who don’t bear responsibility will end up paying for the rich, reckless investors and bank executives.

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