IS THE U.S. BANKING SYSTEM SAFE? – 15 YEARS LATER

“We’ve got strong financial institutions…Our markets are the envy of the world. They’re resilient, they’re…innovative, they’re flexible. I think we move very quickly to address situations in this country, and, as I said, our financial institutions are strong.” Henry Paulson – 3/16/08

The next financial crisis: Why it looks like history may repeat itself Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis

“I have full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event. Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out . . . and the reforms that have been put in place means we are not going to do that again.” – Janet Yellen – 3/12/23

With the recent implosion of Silicon Valley Bank and Signature Bank, the largest bank failures since 2008, I had an overwhelming feeling of deja vu. I wrote the article Is the U.S. Banking System Safe on August 3, 2008 for the Seeking Alpha website, one month before the collapse of the global financial system. It was this article, among others, that caught the attention of documentary filmmaker Steve Bannon and convinced him he needed my perspective on the financial crisis for his film Generation Zero. Of course he was pretty unknown in 2009 (not so much anymore) , and I continue to be unknown in 2023.

The quotes above by the lying deceitful Wall Street controlled Treasury Secretaries are exactly 15 years apart, but are exactly the same. Their sole job is to keep the confidence game going and to protect their real constituents – the Wall Street bankers. And just as they did fifteen years ago, the powers that be once again used taxpayer funds to bailout reckless bankers. Two hours before the only solution the Feds know – print money and shovel it to the bankers – Michael Burry explained exactly what was about to happen.

When Biden, Yellen, and the rest of the Wall Street protection team tell you the banking system is safe and they have it under control, they are lying, just as I said fifteen years ago.

“Our economy and banking system is so complex and intertwined that no one knows where the next shoe will drop. Politicians and government bureaucrats are

Back in the days of The Big Short, before the public knew about toxic subprime mortgages issued by criminal bankers and packaged into derivatives given a AAA rating by the greedy compliant rating agencies, the Wall Street cabal knew time was growing short, but that didn’t keep the lying bastards like John Thain (Merrill Lynch), Dick Fuld (Lehman Brothers), Angelo Mozilo (Countrywide), Kerry Killinger (Washington Mutual), and others from pretending their institutions were healthy and profitable – right up until the day they collapsed. Lying is in the DNA of every financial executive, politician, government bureaucrat, and Federal Reserve hack.

The quote from Hemingway seemed pertinent in 2008 and is just as pertinent today.

Vala Afshar on Twitter: "“How did you go bankrupt?” Bill asked. Two ways,” Mike said. “Gradually, then suddenly.” —excerpt from Ernest Hemingway's novel The Sun Also Rises The same can be said

There are many similarities between what was happening in 2008 and what is happening today. Bear Stearns went belly-up in March 2008 and was taken over by JP Morgan in an arranged marriage by Bernanke and the Fed. The usual suspects assured the country this was a one off situation and the banking system was strong. The Wall Street banks had been reporting huge profits because they were hiding the massive losses on their balance sheets. If they didn’t foreclose, they didn’t have to write-off the mortgages. The toxic debt just kept building.

In the summer of 2008 the banks started to report losses, but assured investors it was only a one time hit. All was well. The week I wrote my article Wall Street bank stocks had soared 20% or more because their reported losses for the 2nd quarter were less than expected. My article cut through all the BS being shoveled by the likes of Larry Kudlow, Jim Cramer, the Wall Street CEOs, and the supposed analyst experts who still had buy ratings on these bloated debt pigs. My assessment was somewhat contrary to the CNBC lies:

“I would estimate that we are only in the early innings of bank write-offs. The write-offs will at least equal the previous peaks reached in the early 1990s. If a large bank such as Washington Mutual or Wachovia  were to fail, it would wipe out the FDIC fund. If the FDIC fund is depleted, guess who will pay? Right again, another taxpayer bailout. What’s another $100 or $200 billion among friends.”

Merrill Lynch was reporting billions in losses and issuing new stock to try and survive. They were clearly in a death spiral and I saw the writing on the wall:

“How long will investors be duped into supporting this disaster? You can be sure that the other suspects (Citicorp, Lehman Brothers, Washington Mutual) will be announcing more write-downs and capital dilution in the coming weeks.”

By the end of September Lehman Brothers and Washington Mutual were gone. Merrill Lynch and Wachovia were acquired for pennies, and Citicorp became a zombie bank sustained by the Fed for years. My article was dire and my analysis showed we were in for years of pain and the worst drop in housing prices in history:

“There are $440 billion of adjustable mortgages resetting this year. That means that the majority of foreclosures will not occur until 2009. This means that the banks will still be writing off billions of mortgage debt in 2009. The reversion to the mean for housing prices and the continued avalanche of foreclosures is not a recipe for a banking recovery. Home prices have another 15% to go on the downside.”

“The consumer is being forced to cut back on eating out and shopping. The marginal players will fall by the wayside. Big box retailers, restaurants, mall developers, and commercial developers are about to find out that their massive expansion was built upon false assumptions, a foundation of sand, and driven by excessive debt.”

Case Shiller 20 City Home Price Index - AAF

It seems I was quite accurate in my assessment, as home prices went down more than 15%, not bottoming until 2012. This global financial collapse brought an end to the big box expansion phase, as many went under, and the survivors concentrated on their existing stores. We entered the worst recession since the 1930s. The most interesting part in going back to my 15 year old article was the psychology of the crowd revealed in the comment section. Despite my use of unequivocal facts, I was branded a doomer, overly pessimistic, and an idiot. Many commenters said the Fed would save the day and it was time to buy the dip. If they had bought the dip on the day of my article, they would have lost 44% over the next 8 months during a relentless bear market.

The question now is whether the current situation is better or worse than the situation we faced in 2008. There are some factual items which may help in assessing where we are. In August 2008 the national debt was $9.5 trillion (67% of GDP). Today it is $31.5 trillion (130% of GDP). Total household debt was $12 trillion in 2008 and stands at $17 trillion today. The Fed’s balance sheet was $900 billion in 2008 and now stands at $8.3 trillion. Inflation was at a 17 year high in August 2008 at 5.9% and stands at 6.0% today. GDP was growing at 3.2% in 2008, versus 2.7% today. An impartial observer would have to conclude our economic situation is far worse than 2008.

Fed's Balance Sheet Drops by $381 Billion from Peak: December Update on QT | Wolf Street

But all you hear is happy talk and false bravado from Wall Street analysts covering their own insolvent industry. They constantly harp on the fact mortgage lending is much more risk averse and secure. Of course the next liquidity driven crisis is never driven by the same exact factors as the previous liquidity driven crisis. But the key factors are always the same. Loose monetary policies by the Fed lead to excess risk taking by greedy bankers, hedge funds, and corporate executives. Then something blows up and the billionaires get bailed out at the expense of the taxpayers who have been getting devastated financially by the inflation caused by Powell and his printing press.

So far, this latest banking crisis “that no one could see coming”, except any honest financial analyst who understands math and history, is following the same path as 2008. The narrative about banks not taking credit risk and peddling bad mortgages is being blown up as we speak. Instead of the risk being centered on toxic mortgages like 2008, the risk has permeated every crevice of the financial system due to years of 0% rates by the Fed. Virtually everything is overvalued by 30% to 50% because cheap debt was available to everyone for everything. Extremely low interest rates led to extreme risk taking by bankers, corporations, home buyers, auto buyers, and politicians. The unleashing of inflation by Powell’s policies has led to the tide going out and revealing who was swimming naked.

Marina Medvin 🇺🇸 on Twitter: "Based on how they operate, many woke businesses will follow the path of Silicon Valley Bank. https://t.co/KeqqCwDhBq" / Twitter

While risk managers at banks across the world have been concentrating on diversity and pushing woke agendas about transgender rights, climate change and practicing ESG investing, they ignored the simple concept that bonds they acquired at 1% lose money when interest rates go to 4%. Just as the banks in 2008 were sitting on billions of unrealized losses from the toxic mortgages on their books, the same banks are now sitting on billions of unrealized losses from the newest toxic asset – U.S. Treasuries. Everyone knows it. It’s just math. They have been counting on Powell to reverse course, but with reported inflation still at 6%, he’s trapped. Silicon Valley Bank and Signature Bank were swimming naked and when depositors realized that fact a bank run ensued. Poof!!! Sudden Crisis.

Holger Zschaepitz on Twitter: "This chart reveals why Fed, US Treasury & FDIC now bailing out the whole US banking system. US banks are sitting on bond losses of $600bn. These are

The narrative being spun is this is a regional banking crisis confined to smaller banks. This narrative is being spun by the big Wall Street banks and their captured media mouthpieces, with the intent that depositors at smaller banks would panic and shift their deposits to the “safe” Wall Street banks. The truth is that the Wall Street banks have massive levels of unrealized losses and desperately need deposits to keep them from facing the same fate as Silicon Valley and Signature. Those unrealized losses aren’t going away and will have to be realized in the near future.

https://cms.zerohedge.com/s3/files/inline-images/net%20unrealizes%20losses.jpg?itok=INcZZ57w

Credit Suisse has been the crazy uncle of the financial industry, kept in the basement for years. Their demise is a foregone conclusion, but that has been covered up and ignored by those in the know. They appear to be the new Lehman Brothers, which will blow up the already insolvent European financial system and spread a contagion of losses across the financial world. Those quadrillions in obscure derivatives are an unknown element in the coming meltdown. But you can be sure they won’t have a positive impact.

Image

Both small and large banks have little to no reserves left to lend. Debt issuance is the Potemkin ingredient in keeping this farce of an economic system running. Without debt to finance overextended consumer lifestyles, funding wars in Ukraine, and the woke agendas of corporations and politicians, the entire facade collapses.

Real wages have been negative for 23 consecutive months. A banking crisis means banks will reduce lending dramatically. Consumers have been forced to live off their credit cards for the last two years, as their savings dried up and their wages bought less. A deep recession is in the cards. Consumers are already pulling back and spending less. With credit drying up and spending going down, employers across the globe will start laying people off. As unemployment rises, people will stop paying their enormous mortgage and auto loans. This will lead to more losses at banks, just like 2008/2009.

Everyone will look to the Fed to save the day. And they will pretend they have everything under control, but they don’t. Back in 2008 their balance sheet was only $900 billion. Today it is 9 times as large. The relentless QE while interest rates were suppressed has left them with enormous unrealized losses on the mortgage and Treasury bonds they bought. They let the inflation genie out of the bottle and now it is ingrained in the economy. Companies who gave 2% annual raises to their employees for a decade are now forced to give 4% or more due to the Fed created inflation.

Fed's Balance Sheet Drops by $626 Billion from Peak, Cumulative Operating Loss Grows to $38 billion: Update on QT | Wolf Street

If the Fed slashes rates and goes back to money printing through QE, the current 6% inflation rate will skyrocket back to double digits. If Powell does nothing or continues raising rates, the banking system will likely collapse. His choices are deflationary collapse or hyper-inflationary collapse. He’s stuck between the proverbial rock and a hard place. Since he is controlled by Wall Street, he will slash rates, restart QE, backstop the bankers, and screw the average American, as always. My conclusion reached in my 2008 article, just before the financial system imploded seems, for the most part, to apply today.

 “The U.S. banking system is essentially insolvent. The Treasury, Federal Reserve, FASB, and Congress are colluding to keep the American public in the dark for as long as possible. They are trying to buy time and prop up these banks so they can convince enough fools to give them more capital. They will continue to write off debt for many quarters to come. We are in danger of duplicating the mistakes of Japan in the 1990s by allowing them to pretend to be sound. We could have a zombie banking system for a decade.”

We never paid the piper and cleaned out the excesses of the previous banking crisis. The financial condition of the nation is far worse than it was in 2008. The financial condition of the average American is far worse than it was in 2008. The financial condition of the Federal Reserve is far worse than it was in 2008. The financial condition of the banking system is far worse than it was in 2008. Our leaders kicked the can down the road in order to give the system the appearance of stability, and we let them do it. We could have taken the pain in 2008 and let the system reset after purging all the bad debt and bad banks, but we chose the wrong path and will now suffer the consequences described by Ludwig von Mises a century ago.

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”Ludwig von Mises

My advice 15 years ago at the end of the article was to reduce your deposit exposure at all financial institutions, don’t invest in financial stocks, follow the writings of honest truthful analysts and this final piece of advice, which is as solid now as it was then:

“When you see a bank CEO or a top government official tell you that everything is alright, run for the hills. They are lying. They didn’t see this coming and they have no idea how it will end.”

The Coming Storm - YouTube

We are at the beginning of the next global financial crisis, not the end. Fourth Turnings do not fizzle out. They build to a crescendo of chaos and war. This financial crisis will usher in the military conflict that has been beckoning for the last year. Time to buckle up and prepare for the coming storm.

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RiNS

Please tell me that’s a joke!

Walt
Walt

It’s Clownworld. Everything’s a joke.

BabbleOn
BabbleOn

I’m going to the grocery store in a Clown Suit tomorrow. No joke! My friend dared me…..

Fred Carter, Banker
Fred Carter, Banker

Are you going to stop by the bank before or after the grocery?

RiNS

Agreed, it’s clownworld, and evident for all to see. The scary part of that is even though I know it is a meme, that it is “fake news” in the eyes of the mainstream, and crazy as it sounds to me, that that tweet could be written by someone, who was following the science at the CDC.

Anonymous
Anonymous

NATION
HAL TURNER
17 MARCH 2023
HITS: 755

Wow! Federal Reserve “Lending” to Banks: $150 BILLION, This Week Alone!
Anyone who thinks the Banking situation is stabilizing should know that the Federal Reserve Bank has lent $150 Billion to banks THIS WEEK ALONE!

The chart above shows this week’s lending, and compares it to the “Great Financial Crisis” of 2008. It becomes instantly clear that this year, things are very much WORSE for banks than in the year 2008

Eyes Wide Shut
Eyes Wide Shut

First Republic shares plunge 20% as $30B rescue package fails to calm worries of widening banking crisis: Credit Suisse also drops and SVB’s parent company files for bankruptcy

Eyes Wide Shut
Eyes Wide Shut

According to a new study reported by the Wall Street Journal, one-hundred eighty-six (186) additional banks have the same issues that faced Silicon Valley Bank before it collapsed.

Thunder
Thunder

are they scared, Younbet your sweet pipi they are

Billy the Kid
Billy the Kid

Well it’s a joke is a sick ,bad sci-fi movie kind of way. But total reality with what they’ve been doing, saying, and promoting. I am certain.

bucknp
bucknp

Counting our chickens way too soon

It ain’t over until the fat lady sings

Thunder
Thunder

God my wife again!, Her singing (screeching like a cat that is being put through a wood chipper would make GOD put on ear muffs (and rev the engine)

Anthony Aaron
Anthony Aaron

That fat lady don’t sing no more … she twerks …

TampaRed
TampaRed

back during the last crisis it seemed that you could not read an article that did not mention how derivatives were going to implode the market & also that banks would not lend $ to each other b/c of their fear that the lendee would go belly up b4 paying back the loan —
asswipes, er, congressmen & senators of both parties stated again/again that they would insist upon the orderly unwinding of derivatives & that legislation would be passed that limited or banned derivatives —
this time around derivatives seem to still be a big threat & the banks were heavily invested in “safe” investments —
i’m curious as to whether or not a single bill was even introduced to get control of derivatives ?

BL
BL

Tred- How in the hell do you get control on derivatives? If you bale up a pile of stinky turds (bad loans) and then sell them as a investment instrument promising excellent returns (??) Will that turd bundle ever stop stinking?

Anonymous
Anonymous
The Central Scrutinizer
The Central Scrutinizer

Eventually it will turn to stone and stop stinking. It goes without saying that we don’t have the luxury to wait quite that long.

CrashDavis
CrashDavis

How can people be confused and curious about the obvious at this point?
Did everyone – even here – drink the Zero IQ and Selective Amnesia Water?

TampaRed, the only way to be that willfully clueless is to get brainwashed by Hannity-FOX-Breitbart on a daily basis and even then it requires not noticing what happens right in front of your face.

First of all no one in Congress ever promised to ban or limit derivatives, nor should they. (call and put options, including commodities hedges that are legitimate risk insurance for farmers etc. are DERIVATIVES! )
It is the insane government-funded expansion of derivatives with fraudulent collateral the causes the Ponzi bubbles and world-destroying pops. And that limitless FED funding spigot has been turned up to full blast by all R and D politicians, and ALL Presidential nominees of either party, and nearly all R and D voters since at least 2001.
The fact is that YOU supported the creation of the 2001 and 2008 and now the 20023 Ponzi Bubbles and the resulting world-destroying pops, if you voted for any of the R or D Presidential candidates or any incumbent Senators since 2001, with the possible exception of Rand Paul.).
How? Well, look in the mirror and consider:
When you cheer the outlawing of free markets by rigging the price of money itself at zero by FED decree – as Greenspan did in 2001 – and give unlimited free government money to government-sponsored banks to rig stocks up, YOU are financing the derivative Ponzi bubble (as all R and D politicians and ALL TV bobblehead dolls and all Wall Street whores and idiot R and D voters did).

When YOU falsely call this Welfare for Billionaires Nazi model “capitalism” and when YOU falsely call FED welfare to TBTF banks “CAPITAL” and the subsequent trillions in bailout cash to reward fraud and failure after every crash “LIQUIDITY”, YOU are causing the Ponzi derivative bubble.
(As all R and D politicos and ALL TV bobblehead dolls and all Wall Street whores and idiot R and D voters have done since 2001).

When you cheer on stock buybacks (which were illegal before this Ponzi-Is-God century) – or even worse – stock options for executives paid with FED free money channeled through welfare queen TBTF banks and counted as debt against the company to rig stock prices up, YOU are causing the Ponzi derivative bubble.(as all R and D politicos and ALL TV bobblehead dolls and all Wall Street whores and idiot R and D voters have done since 2001).

If you supported the 2008 bailout of Warren Buffett for investing in multi-trillion dollar derivative fraud at GE or to reward losses of Blackrock’s junk JNK bond fund under Orange Hair’s “COVID caused the junk bond fraud)” bailout in 2020. – or if you supported Greenspan’s outlawing of free market prices under ZIRP since 2001 or if you voted for the Orange Hair who put (the biggest MBS CLO derivative fraudster at GS in 2008) Steve Mnuchin at Treasury and who bailed out Blackrock’s JNK (because COVID somehow caused junk bond ruad) or if you voted for any other Presidential nominee in since 2001 – YOU helped to cause each Ponzi bubble and pop.
You can go back further too, all parties have supported the creation of this Nazi Bubble model since Glass-Steagell restrictions were removed in 1999 allowing banks to essentially become hedge funds playing with the FED purse.

Blaming derivatives for the Ponzi Pop is like blaming water because you killed someone by forcing too much water down their throat while conning them into thinking it was medicine until they died.

Derivatives which have been around for centuries do not cause Ponzi bubbles, it is the central bank and creation of infinite free cash to create limitless amounts of them for select elites and when the entire Senate leadership and regulatory authority green lights the fraudulent pricing of them and the fraudulent collateral backing them that causes the world-destroying disaster. And ALL R and D politicians and deep state and CIA-Media thugs and R and D voters not only supported it, they DEMANDED it.

When you look the other way and ignore the obvious lies that non-existent fraud collateral ‘backing’ the trillions in FED-financed derivatives is “real” because Forbes calls it “re-hypothecation” and Hannity says it is “capitalism” and MSNBC says it is “bullish stimulus” for your portfolio and FEDs and ratings agencies call them “stress-tested collateralized securities” that will pad your pension, YOU are the cause of the derivative Ponzi that would not exist if we had anything that remotely resembled a free market.

You want to know why the Ponzi Bubble and inevitable Pop is destroying the world?
The R and D 97 percenters who cheered the FED to ‘pump my portfolio’ on need to look in the mirror to find the culprit.

BL
BL

Crash- Bravo, most excellent breakdown of the Nazi (rightly called) throwdown and Joo money magic machine!!!

TampaRed
TampaRed

crash & bl,
you mostly kicked my ass there but not voting ain’t the answer so yeah,i vote 4 the lesser of 2 evils —
i agree 100% that the worst culprits r in the mirror —

BL
BL

Tred- I’m at the end of my life cycle. Fiat currencies are much the same and the USD is at the end, (((banksters))) are simply piling on for the greed of it all. You can’t possibly legislate fiat out of flaming out of existence. I was not attempting to kick your ass or be unkind. This is just a truth on this Earthly plane like birth and death.

The piling on is rather unforgivable.

Sooner/Later? The 'politicians', bankers, ...
Sooner/Later? The 'politicians', bankers, ...

“crash & bl,
you mostly kicked my ass there but not voting ain’t the answer so yeah,i vote 4 the lesser of 2 evils —”

…And ‘associates’ WILL ALL BE ‘running’. For their lives.

AND, many of “US” as well.

STILL Voting? Harder?

A (Heartfelt) Prayer 4 U.

Sincerely, Nearly Time

Eyes Wide Shut
Eyes Wide Shut

Would anyone with a brain admit that not voting for Trump on principle last election made things better or not disastrously worse regardless of his clot shot stance?
The lesser of two evils is a logical legitimate strategy considering our current circumstances.

my voter registration card is in tiny pieces...
my voter registration card is in tiny pieces...

“Would anyone with a brain admit that not voting for Trump on principle last election”

…👁’m torn. (pun intended)

Tiny little squares. Not sure if i just want to print/frame the Pic.
OR, ‘Cast’ the remnants in resin.

No Use throwing good money away. Even on paper/ink.

“What about ‘local’ ! ?”

🤣 Training/proving ground for…call them what You will.

1st time drumpf? 1st time i EVER voted AGAINST old what’s her name someone.

2nd time for that Part-n-Parcel? Fear.

ALL is behind me.

Buckle-Up, Indeed.

CrashDavis
CrashDavis

Hi TampaRed-
I did not mean to dis you personally, you were hitting on a big problem but in a vague way that may confuse the well-intended.
Frankly, we are so far down the toilet bowl of fraud and loss that derivatives are the least of our problems.
SVB imploded but not primarily because of derivatives of any kind but because the FED and COngress and the Treasury and the Deep State agencies and the globalist Cb gang has made US TREASURY BONDS into de facto worthless fraudulent ‘derivatives.’

SVB held MBS and Treasury shit that imploded 40 to 60 pct in value as bond market prices imploded to cover the COVID excuse bailouts of elites, endless war, fake green scams etc
Those losses (with government green-light) were priced at 100 cents on the dollar with fake HTM pricing. So depositors asking for their deposits back causes the fraud to be exposed as the sale of that shit reveals the real market price.
Banks are forced (and bribed) to hold trillions in FED-backed paper: MBS, T-Bonds and Bills etc. We are talking TRILLIONS in fraudulent bank balance sheets and the FDIC has maybe .128 of a trillion (which is invested in fraudulently priced T-bonds!)
Remember these are BANKS and they are supposed to have money for depositors on DEMAND but they falsely price their assets as if they can be held and ignore prices indefinitely.
That is what pushed SVB off the cliff.
ALL banks carry this shit as their primary asset. They are all dead men walking.

Here is what happens next.

In order to fund endless welfare for government-partner monopolies and endless war with money we don’t have, the FED has destroyed the bond market, so now their rate hikes will kill all the banks that were forced to hold their worthless shit.
EXCEPT for the Big 6 TBTF Welfare Queen Banks and select corrupt globalist slush fund banks like SVB that get FED super-majority votes required to bail them out.

During the crash, T bills will get a strong panic bid for a few weeks as they did on 2008- but then the bond price implosion will cascade down forever, and remember, BOND price crash = US and world bank crash = CBDC global bank slavery.

As all of the “no-bailouts-for-you” small and regional commercial banks die one by one, the “infinite bail-outs-for-you” Big 6 globalist government-sponsored banks (and Crook Banks for elites like SVB) will absorb the entire US banking system. ALL other banks will die or get folded into the Big 6 over the next year or two.
Janet Yellen ( a Klaus Schwab Nazi leader) openly admitted that today in congressional testimony and no one will know or care.

So, the Nazis have told you that within a year or so, you are 1) in the gulag or 2) a barter renegade – no other choice allowed.

The US destruction of the bond market – and thus all bank solvency (except for the satanic elite banks) is the real world-destroyer.
The derivative bubble pop will just be added poison to the already fatal Treasury and MBS bond pricing poison already injected into banks.

The toxic debt fraud implosion will scare idiot Americans into worshiping the satanists who caused the crisis as it always does – just like it do in 2008. And they will walk into the gas chamber CBDC gulag that comes next.

I wish people could be dissuaded from worshiping the evil-government-and-monopoly causes of the disaster but that is impossible. People both R and D will always worship their captors in a crisis and worship any evil (like UKR Nazis or bailouts of trillionaires etc) they are told to worship by bobblehead dolls on CIA-TV.

There is absolutely nothing you can do to get a critical mass of people to de-program from the death cult.
And the sooner the few remaining sane and good people left realize that the better.

Billy the Kid
Billy the Kid

I didn’t support bailing the banks or billionaires out on 08, and I don’t know.

A cruel accountant
A cruel accountant

No debt no ponzi.

Pay off your debt

VOWG
VOWG

Derivatives, that’s a great one. Gambling on a stock without owning a stock, hell what could possibly go wrong? How much is out there in derivatives, I bet it is more than the entire actual wealth on the planet.

A cruel accountant
A cruel accountant

Fuck the feds, fuck the bank pay off your debts

Billy the Kid
Billy the Kid

As much money as the bank and feds have stole, they ought pay off our depts for us!

A cruel accountant
A cruel accountant

You never suffer from a derivatives implosion depression or recession if all your debt is paid off

A cruel accountant
A cruel accountant

Do not eat out buy a new car new house or go on vacation until your debt is paid off

A cruel accountant
A cruel accountant

Good luck down voters. You are going need it!

Billy the Kid
Billy the Kid

BS. Every american has around 200k conservatively from the fed reserve and federal gov spending depts. If you think they won’t fuck with you after paying off personal depts only, you’re delusional.

Boogie
Boogie

We’ll coast a little while longer. It’s over when the banksters say it’s over.

Billy the Kid
Billy the Kid

It’s over when we say it’s over, fuck the feds.

brian
brian

Looking at the sum total it SHOULD be near impossible to miss whats going on.

The full on frontal attack with the banking ponzi, war screeching from the banshees, faggots in your face attacking your children and family. Day after day of ever increasing fear porn poured out causing people to be confused and disorientated, set back on your heels as to what to do. Then theres looking for a saviour, vote tRump, desantas, this guy or that, anybody that looks/acts promising, just vote.

Better start looking up. Then if you haven’t already done so, best to start taking any real wealth you have out of the bank or stock markets and invest in a few extra bullets and beans. Have a plan, and a backup plan. You might want to even consider a reserve plan incase the first two don’t work.

I walk the dog every day, rain snow or shine. MOST of those I talk with have zero idea of whats coming. Its just a glitch, the govt will set things right. There are groceries in the store, no need to worry. I can still charge with my CC, alls good you conspiracy person you.

Like my neighbour said one day. If it all goes to shit, I have a neighbour that’ll help us out. My reply was, I’ll bet you don’t get the welcome you think you’ll get.

I’m outta give a fuc’s and looking for the party to get started. The sooner it starts the sooner its over. I prefer the STHF while I’m still capable of getting the grands thu it as opposed to being a spectator.

Ken31
Ken31

This was a good article. Congratulations on it being feature article on ZH.

Anonymous
Anonymous

Important to understand that everything is intentional. Agenda 2030 (the year 2030) is the check point to total global societal transformation (ushering in global technocratic fascist totalitarian governance) by 2050 (agenda 21).

@Listen_2Learn . Mar 16

bucknp
bucknp

It’s old hat talking about it , say, 2008…peeps’ minds were and still are about what I got.

Mary Christine

.

hardscrabble farmer
hardscrabble farmer
BL
BL

HF- Were you hit hard by that last storm?

hardscrabble farmer
hardscrabble farmer

Pretty bad. Snowed for 26 hours non-stop, heavy and wet. Trees and lines were down everywhere.

We were plowing out a driveway up the backside of the mountain and before I reached the flat spot at the top of the first run-up we slowed to a stop and the truck just slid backwards towards the edge of the drive and the ravine. Thankfully I dropped the plow and stopped us before we went backwards over the edge. My son and I had to walk home about 4-5 miles in the dark through the snow.

Got it out the following day after a lot of shovelling and some really hairy backing up. Thye say it was the worst state wide power outage we’ve ever had.

Looks beautiful, though.

Mary Christine

Looks beautiful, though.

There’s always that glass half full part. Glad you didn’t go over the edge of your mountain.

BL
BL

I thought about you and your family HF and wondered if you had power. Glad you came out OK. That darn global warming can be a bitch sometime.

Nick
Nick

Whitey Bulger’s SOP was murder. His girl friend, a young dental hygienist, provided a pair of special dental pliers that Whitey’s henchmen would use to extract all the teeth from the victim before they were buried in the ground with a liberal amount of lye to speed the decomposition of the body. Just in case, having no teeth would make dental identification impossible. Whitey was famously arrested in San Diego after 15 years in hiding, along with his then not so pretty girl friend. Tried and convicted, entered federal prison. Upon transfer to another prison-noted for its violence-he was murdered in his new cell the night of his arrival. Not sure of the cause of death, but it was reported that both his eyes were gouged out.

Trivia: Whitey’s brother, Billy Bulger, was president of the Massachusetts state senate for several years while Whitey was operating with his gang of Southies in Boston. Billy always claimed he knew nothing about the activities of his brother or his whereabouts.

Epstein got off easy.

Walter
Walter

Is this a soft or partial nationalization of the banking system?

Anonymous
Anonymous

Having FOOD is now racist / sexist.

It does not matter if banks go bust and currency hyperinflates …. don’t you do it !

‘Pantry porn’ trend rooted in racist, sexist behavior: Loyola professor
Evelyn Blackwell . 17 hours ago

BabbleOn
BabbleOn

Hooray Jianuckistan!

BabbleOn
BabbleOn

Pantry Porn Horror.
Shrinkflation!!
McCafe this week in the grocery store……
$22.99/950g on Monday.
$22.99/ 640g on Friday.
The container looks like Midget.
^^666^^
It looks like Interest Rates will Really need to skyrocket here, Just sayin

Klingon
Klingon

X – Files : ” It will probably begin on a Friday ….. ”

Bank of America Falls to Its Lowest Level Since 2020
Zerohedge

Klingon
Klingon

When the distraction needs a distraction.

@DailyNoahNews
SVB Financial Group, Silicon Valley Bank’s former parent company, filed for chapter 11 bankruptcy protection on Friday.
6:31 PM · Mar 17, 2023

@AP
Some 2.5 tons of natural uranium stored in a site in war-torn Libya have gone missing, the United Nations nuclear watchdog says, raising safety and proliferation concerns. Natural uranium can’t immediately be used for energy production or bomb fuel.

Steve
Steve

The answer to inflation in the current state IS NOT raising interest rates. That only works if the inflation is demand driven. This one has two major causes: Supply and deliver trouble AND too much money. Example: you got a goat and you want to sell it so you charge say three chickens. Now lets say the supply of chicken is 100. So in theory you can sell 33 goats. But if the supply of chickens increases to say 10000 chickens then your goat is worth less. (Before Goat equaled 3/100 now goat equals 3/10000). The answer to the current problem is money destruction, say 3 trillion dollars need to leave the money supply, that would make the current dollars worth more. And the government need to stop spending so much money without taxing (taxing is another demand remover) If you are taxed more you have less to spend but you still need the basics and if over taxed might not be able to get them. This inflation will be slowed if the amount of good increases. Example back to goats and chickens. If you had instead of just one goat has 20 goats then the greater supply would lower the cost. Shelf are not empty because of too much demand, they are that way because of too little supply. And normally if normal events are allowed to happen without interference, then what will happen is this you buy less, so more goods are on the shelves and with time either the seller must lower prices to get rid of their stock or in the case of food they will be throwing out the spoiled food and even though the seller paid for it, not selling it means they lose all ( buy 3 chickens for the 1 goat but the goat died and now instead of more chickens, they are out all the chickens they paid plus the goat. It also true for banks. It should be if a bank fails then no rescue and the market is now stronger as the bad bank is now gone. But the current way is going to weaker all banks as the weaker banks survive and thus there is now less for the stronger banks. We need to stop caring about signaling and go back to the idea of find the best valve and best people. The way we are going will weaken us all. After all if a weak person gets rewarded while the strong get punished for being strong, how long before the strong no longer care about putting in the necessary work to be strong and become weak themselves. But remember nature and real life does not work that way. They have a simple rule: to survive takes work. If you do not do the work, then you will not survive in the real life. How long before these lies ( signaling, climate change, Etc.
come back to haunt us?

charles
charles

In this age of participation trophies, work is no longer necessary!

Anonymous
Anonymous

Really? Ok question. Are you willing to do enough work to feed yourself? And how long before the one feeding you want to be spoon fed?

IWantYourDOR
IWantYourDOR

When the walls come tumblin’ down
When the walls come crumblin’ crumblin’
When the walls come tumblin’ tumblin’ down
Yeah yeah yeah

anonymous
anonymous
Junious Ricardo Stanton

Of course the financial system is worse off today than it was in 2008; mainly because the causes of the 2008 collapse were never remedied or fixed! In 2008 there were trillions of over leveraged derivatives just waiting to bring down the system, today the number is in the quadrillions! https://scheerpost.com/2023/03/12/ellen-brown-the-looming-quadrillion-dollar-derivatives-tsunami/
The contagion is so widespread no amount of money could/can bailout the system when it really unravels. The 2008 bailout was a temporary fix, like putting a Band-Aid on a severed human limb. What we saw with the Fed bailing out all the SVB depositors cannot happen system wide! There is not enough money in the FDIC to save all the depositors in First Republic, Signature and the other banks like they did SVB. The fact is the TBTF banks are tittering on the brink of implosion/collapse and it is only a matter of time before the whole thing goes kaboom.
The same scenario exists in the international system. Credit Suisse has been in trouble for years, they have been propped up time and time again but now it has to be purchased and absorbed to prevent a system wide implosion!
This is why the plutocrats need their Great Reset reshuffle/reconfiguration to prevent the rubs from coming after them with ropes, torches and pitchforks. Collapse is metastasizing everywhere, moral, societal, institutional, financial and governmental. This is an everywhere everything all at once moment.

Ron
Ron

The Banker

Thunder
Thunder

NO!, why because the rules change, to suit the tide and wealthy people

anonymous
anonymous
Tex
Tex

The New Jersey railway station was bitterly cold that night. Flurries of the year’s first snow swirled around street lights. November wind rattled roof panels above the track shed and gave a long , mournful sound among the rafters.

– G. Edward Griffin

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