(PatriotHQ) Do you feel better now knowing Sleepy Joe Biden is going to make sure your money is safe?
- Why didn’t Joe protect the money of thousands of families with the Silicon Valley Bank and others?
- Why did it take the loss of tens of billions of dollars to get Joe awake and moving?
- How will Sleepy Joe protect all the coming bank failures?
Let me guess. Sleep Joe will ‘Make The Call’ and the fed will simply print more money! (Which was the reason many banks are slated to fail)
This should comfort you…..🙄
Biden promises no more bank failures while in office. The "Bank Term Financing Program"
But don’t worry, Joe Biden vows to prevent bank failures, read it for yourself!
On Monday, President Joe Biden announced bank failure prevention policies. After Biden's energy policies generated inflation, interest rates rose to limit price hikes.
A day after taking credit for a new liquidity solution "to help make sure banks can satisfy the needs of all their depositors," Biden proudly announced new bank collapse laws.
So, if Congress can pass a law and it fixes the problem, then pass a law and eliminate the IRS, or stop Global Climate Change (assuming there is one) Or pass a law and outlaw Outlaws! (Politicians would be unemployed)
"I will encourage Congress and banking authorities to strengthen the rules for banks stronger to prevent this kind of bank disaster," Biden tweeted. "Protect U.S. jobs and small companies."
His administration's response to bank failures, partially caused by higher interest rates to curb inflation, was unclear. The Biden administration's energy policy created inflation.
Biden didn't mention modifying energy or money policy, wonder why?
According to a 2022 Strategic Petroleum Reserve assessment of Biden's energy war will cost the U.S. about $100 billion a year, or two to three million barrels of oil a day. Biden's war on American energy involves raising oil drilling costs for private and public investors, blocking public land drilling, and scrapping the Keystone project.
Fake energy crises raised prices in 2022. In 2022, Bloomberg predicts inflation would cost the average American household $5,200, or $433 each month.
Biden promises no more bank failures while in office. The "Bank Term Financing Program" was put up before Monday's markets opened. Deposits over $250,000 are now protected. On Monday, Biden assured taxpayers would not pay for protection.
Great, please raise your hand if you got your check?
"No taxpayer loses," he stated. "Banks' DIF fees will pay for it."
How wonderful! We can count on the government to come to the rescue! Just ask the grateful people in Palestine Ohio!
"No one is above the law in my government," he declared. (Except Hunter Biden)
In conclusion. We are screwed! Either America has a collapse now or suffer the next few years and have a mega-collapse then. Either way. Your check is in the mail!
Your opinion?
Replies
Too big to fail banks will swallow the small fry. Why wouldn't the Feds want fewer banks to control for social justice? This is more than just a distraction from investigations.
"Too big to fail..." this implies fat people will live forever! Too big has a short life span!
Well said Allen... Why would the Left want fewer banks? Could it be that a Command Economy is much easier to run than a free market.?
Without responsible men and women in positions such as the AG, Director of the FBI, Senior staff in the DOJ, and strong conservative US Attorneys to stop Biden... he can run the government using Executive Orders... ignoring Congress, the Courts, and the cries of the People... Biden will do whatever he likes and the GOP will be powerless to remove him without major support from the Democrats. Biden is basically, IMPEACHMENT PROOF and that makes his DICTATORIAL use of Executive Orders to fundamentally transform America.
The State Governors are doing nothing effective or constructive to support our hope for major government reforms... they need to petition Congress to call an Article 5 Convention, to pass a Recall Amendment. The ENTIRE SITTING elected, appointed, and SES... must be recalled... subject to new elections. The States need to pass a Term Limits Amendment: One term, 6yrs, with 1/3rd of the government standing for election and appointment every 2yrs. End the rule of career politicians and senior civil service executives... replace them with Citizen representatives. Representatives and appointees who serve one term and return to their homes... too live under the regulations and laws they create.
The Governors are our best and last hope... if we are to have serious government reform. Reforms capable of restoring Constitutional Government... The Marxists are on the march to secure total control of our government and FRANKLY, it may be too late. Pres. Trump may have been our last hope and the GOP with Pence at the head... KILLED that hope. We can thank men like Pence, Romney, and McConnell, for the debacle we have in America... Gun control is one of the least of our problems.
Asking Congress to strengthen Bank regulations and enforcement after the fact... is CLOSING THE BARN DOOR AFTER THE HORSES HAVE LEFT... idiot.
Besides Banks are managed by very clever men and women... no amount of regulation will keep the immoral manager from stealing the wealth of depositors one way or another. We need MORAL CAPITALISM... a populace movement to put God back in the driver's seat of America's Government and Culture... in charge of their finances. For where your treasure is so is your heart... the heart of the natural man is evil beyond comprehension.
Our government, culture, and the finances behind them are a reflection of our nation's character... Good men create Godly institutions, and evil men feed on evil societies. Which manner of society do we have in America... Good or evil? Our constitution and its form of government... including our liberties... are dependant upon a moral and RELIGIOUS PEOPLE... a practicing Christian Populace.
In 2010 obummer burdened the banks unduly by signing Dodd-Frank into law. (Remember the disgrace barney frank was?) President Donald J. Trump remedied these burdens by signing the Economic Growth, Regulatory Relief, and Consumer Protection Act in 2018 that passed both chambers with a large majority because even many demonrats realized the government's overreach under obummer. It is frightening to see an inept imposter like biden in the White House, when we have to deal with a crisis like this one. I wish we had the legitimate president and great leader Trump there, who would clean up this mess decisively with great and stable leadership.
In any case, it is almost always a mistake to propose more government overreach to establish something like "moral capitalism" or whatever else government overreach is suposed to achieve. Did we forget what President Reagan said? "The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help."
I see you are for ignoring the Constitution and its restraint on private banks regulating our currency and rates of exchange... Congress and no other body is provided the power to COIN money, regulate its value and rates of exchange Article1, Section 8, Clause 5. Congress is also given the power to regulate interstate and foriegn commerce... which is tied to exchange rates and setting the value of money.
Banks operate largely by using other people's money... not their own. They derive their Charters to operate from the government, and they are insured by the government. Banks and the capital markets they operate and or influence, establish rates of interest, inflation, and exchange. They serve to facilitate settlements of all commercial transactions. Therefore, they require close and detailed regulation... to carefully define market standards for settlements, security, and records of such transactions for both private and public needs and requirements. Regulation of securities and banking help to keep the Bernie Madoff types from raping the system... even with all the regulation Banks still manage to violate depositors' confidence and some even make a practice to engage in criminal conduct.. for profit.
When you talk about the US Constitution, I suppose we are talking about coins, over which the federal government has authority. The federal government is still the only entity in charge of coinage in the US. In other posts you have criticized the Court's interpretation of the law, which makes me think that you would not want to have the courts expand the definition of "coin" to include fiat money or even electronic forms of money. So, I don't see where the US Constitution is even an issue here. Nobody is disputing the federal government's authority over coins.
We all know that regulation kills business activity whether we are talking about regulation coming from the EPA, the Fed, or any other three (or more) letter government entity. Yet, you propose more regulation in all your posts so that we follow a "Godly Capitalism", however this can be implemented in real life, with real contracts, with real laws. Lofty ideas need to be translated into an actionable framework unless you want to keep touting elusive lofty ideas and you want to keep getting upset that real life doesn't follow these ideas. All that is a waste of time in my book, and in any business man's book. All business runs on legal security of contracts that is based on real law, not on some elusive concept that anyone can interpret at will.
I can tell you what is not Godly in the context of SVB. This bank focused on DEI and wokeness and forgot that making money has nothing to do with the pronouns of bankers and their staff. You know as well as I do that it goes against God when we buy into the leftist and aggressive narrative of the lgbtqxyz. SVB bought into this and got punished for committing this sin. As Carlson Tucker correctly diagnosed, this started under obummer who pushed this DEI crap on the country all the way into private enterprise. Obummer was anything but Godly. So, God punished SVB by proxy. The only things that aren't Godly are DEI and wokeness, not our capitalist system. Anything you propose that changes our current capitalist system is socialism because you try to regulate what "resasonable profits" are. We have enough regulation. Thank you very much!
Paul... you don't know what you are talking about.. Constitutional Money is coins minted in precious metals... gold and silver were and remain the only Constitutional money. Paper Currency drawn on gold and silver reserves on deposit with the US Treasury constitute MONEY as they could be directly exchanged for gold and silver coins
However, the FED, US Treasury, and Congress have managed to TWIST the US Constitution around to permit the use of FIAT paper currency in place of constitutional money (gold and silver coins). Today's 'Paper currency' is backed by nothing but the full faith and credit of the US Government Federal Reserve Certificates are not the equivalent of US Treasury Notes. They are not redeemable in gold or silver... constitutional money.
Paper currency at one time was... issued and drawn on gold and silver held by the US Treasury. One could exchange these paper Treasury Notes for Gold or Silver coinage at any National Bank Paper currency started as a tool of convenience, making it possible to conduct commerce without carrying heavy bags of gold and silver coins around. Early issues of paper currency were constitutional because they represented gold and silver payable on demand to those holding such currency. See Article 1, Section 8, Clause 5 of the US Constitution
SVB and several other failed woke banks were closed due to their reckless and immoral management of depositors' funds... Eco-activist and unethical bank executives leveraged their privilege and positions to secure capital for risky eco-friendly investments and businesses. These woke banks executives acted unethically and immorally. They saw an opportunity to gain access to large sums of depositors' monies to fund their favorite Woke group or business venture.
I am not for MORE BANKING REGULATION... However, I am for BETTER REGULATION AND OVERSIGHT... More federal regulation will not stop corrupt bankers from engaging in unethical and immoral business practices... better regulation and oversight will enable the Government to identify problem banks and executives before they cause major bank failures.
Hey Paul, the bailout means the stock holder lose, depositors lose (over 250K) but the bank which will buy the 'remains of SVB will win! .05 on the dollar, all the unpledged assets, list of depositors and a debt free FDIC approved Bank. Did I miss anything?
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