The scariest thing you can ever hear is: “We’re here from the government, and we’re here to help.”
Just remember something… the “G” is only concerned about what serves their agenda. We are just income-producing pawns in their sick game.
I mean, if you can’t recall all the lies they told us in the past 2 years, there’s no greater example in history than what we’ve just lived through.
In fact, they’re still lying to us with new lies to cover up their old lies…
Banking regulators devised a plan Sunday to backstop depositors with money at Silicon Valley Bank, a critical step in stemming a systemic panic brought on by the collapse of the tech-focused institution.
Depositors at both failed SVB and Signature Bank in New York, which was shuttered Sunday over similar systemic contagion fears, will have full access to their deposits as part of multiple moves that officials approved over the weekend. Signature had been a popular funding source for cryptocurrency companies.
Those with money at the bank will have full access starting Monday.
The Treasury Department designated both SVB and Signature as systemic risks, giving it authority to unwind both institutions in a way that it said “fully protects all depositors.”Â
The FDIC’s deposit insurance fund will be used to cover depositors, many of whom were uninsured due to the $250,000 cap on guaranteed deposits.
Along with that move, the Federal Reserve also said it is creating a new Bank Term Funding Program aimed at safeguarding institutions affected by the market instability of the SVB failure.
A joint statement from the various regulators involved said there would be no bailouts and no taxpayer costs associated with any of the new plans.Â
Shareholders and some unsecured creditors will not be protected and will lose all of their investments.
If there’s ever a time to be concerned, it is when the government tells you not to be concerned. You should start controlling what you can, because there’s going to be quite a bit more coming down the hill that is completely out of your hands.