I guess the decision is an easy one considering I'm a lender - the banks are in trouble so let's look at that issue for now.
The thing that stood out to me the most this week was Treasury Secretary Janet Yellen who pretty much said they're only going to backstop the banks they like. Well, I'm paraphrasing a bit; she said: "Only the banks we consider to systemically important". Translation: "Only the banks we like" I don't know how to upload the video I watched but she said clearly that not all banks will be covered. If you want to see the video call me and I'll send it you.
Unless she changes her mind everyone will be left wondering, gee! I sure hope my money is in one of THOSE banks! Of course, she also said "There will be no bailouts" just last weekend so....
Meanwhile, State Legislatures in 21 States are pushing a stealth program to ensure that Digital money is ready and waiting when the system finally collapses. Thankfully some governors like South Dakota's Governor Kristi Noem caught the sneaky law in her state in time and vetoed it with a capital "V". Nice catch Gov! Those who want this to happen aren't doing it in the open, they're using fancy, innocent sounding language but, buried in the over 120 pages of legal BS, it's all right there: Digital is the new money but Bitcoin is illegal.
"The ULC is promoting bills that would change the UCC (Uniform Commercial Code) to ensure that states have state law that is prepared to deal with CBDC. These same bills would also ban any current forms of crypto like Bitcoin as a competitor for CBDC. These UCC changes reflect the state law changes to meet the goals laid out by the Fed (here’s an overview) and are fully laid out in this fun document."
"Bills promoting these changes are pushing through hard red state such as Missouri (HB1165), Oklahoma (HB2776), Texas (SB2075), and Tennessee (SB479/HB640). They are also in a ton of other states and need to be stopped in all of them."
This whole crisis has been planned in advance to usher in digital dollars which will give government even more control over the economy because they just so damn good at it!
Want more proof? The FDIC (a government insurance agency charged with insuring all deposits up to $250k) found buyers for Failed Signature bank and have agreed to sell them the assets at pennies on the dollar but with one condition:
The buyers of Signature must Drop all activities with Crypto assets!!
"The FDIC has also required any buyer of Signature to agree to give up all cryptocurrency business at the bank."
This is happening against a backdrop of banks who are now bum-rushing the Fed window to get liquidity at a rate never seen before. This week they're going to need a Yuuuge distraction to keep folks from thinking about how unsafe their money is. Is it any wonder they have "leaked" the news that Trump will be arrested?
"Be advised: the situation is not in-hand and is going to get a whole lot worse as new and subsidiary shocks thunder through the weeks and months ahead, until the whole wicked business blows. Likewise, the reactions of our government will only get more tragi-comically pathetic. The harder this gang of feckless, wannabe control freaks pretends to control events, the faster events spin out of control."
In short, the whole house of cards could come down in the event of another Lehman-style financial shock.
The failure of Silicon Valley Bank could be the catalyst for such an event, which means the situation is urgent.
It could all spiral out of control in an instant.
Bank holidays, capital controls, bail-ins, deposit confiscations, and forced conversions to central bank digital currencies (CBDCs), are all on the menu… and sooner than most think.
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 lying to the public when they say that everything is alright. They do not know. Should you believe a governmental agency that wants the public to remain in the dark to avoid bank runs, or an independent analysis based upon balance sheet analysis?” Michael Burry, The Big Short
I remember that just before our military was unceremoniously evicted from Afghanistan by Taliban goat herders with AK's in 2021 all of the sock puppets were saying the same thing:
"You probably remember Joe Biden famously insisted in the summer of 2021 that the Taliban was “highly unlikely” to take over Afghanistan.
Boy did he turn out to be wrong.
Only a few weeks later, the Taliban was in control of the entire country… and the world watched in utter astonishment as US military helicopters evacuated embassy personnel from Kabul in one of the most shameful episodes in modern American history.
Not to be outdone, it appears that the Federal Reserve has just had its own Afghanistan moment."
" it’s truly astonishing to see just how horribly wrong the people in charge can be in their predictions, especially about the very near future."
This is where we are folks, everything everywhere all at once. I wish it wasn't like this but I've been warning anyone who would listen to me for the last two years (at least) that this is where we're all headed. I've never wished to be wrong more than now but I'm not going to pretend or subscribe to delusion.
We can all stand around like a deer in the headlights like most are doing right now or open our eyes and admit there's some pretty bad sh*t happening right now. Only then can we make prudent decisions to protect ourselves, familes and businesses.