Speaking of Bank America faulting!

One of my sources use to own a bank. She revealed to me in the 80's that China purchased "Bank of America". She said it's because they have the 'teachers retirements'. At that time I didn't think 'illuminati'.

My source passed away in the early 90's. She knew a lot. She was Winston Churchill's private nurse. She ran 27 Far Eastern hospitals and knew the Shah of Iran personally. She spoke to Elizabeth Dole who was newly appointed to head the "Red Cross" and at the same time helping her husband, Robert Dole, run for the presidency.

My source was no slouch but couldn't tell me a lot at the time. I miss her and think how much she tried to balance things out within her particular scope with the illuminati. I believe there are such people, (white hat type), within these organizations.

I don't know if "Bank of America" still has the teacher funds. Would be interesting to find out at this juncture.

What we don't think about, is these banks hold trillions in retirement funds as well as future derivatives, (which are nothing but future bets that have been placed).

Keep in mind these corporations, (who Clinton/Obama said were considered human), and companies like the post office, come to mind. If their bank investments fail, their workers are out of a job ...this could be "your" family.

I'm hesitant when I think how either the Deep State, (reset), or the QFS Systems, (Quantum Financial System), could easily slip-on-in and "SAVE THE DAY!" Who's to know which is which?

We'd all be following the 'piped piper'. No problem! We'd all want food, clothing and shelter...RIGHT! Remember, we're all going to be happy owning nothing!

Follow your heart and not your wallet!

More to be revealed,

Nameless_one

: By Paul Craig Roberts - March 13, 2023

: The failure of Silicon Valley Bank (16th largest bank in US)
: last Friday resulted from depositors withdrawing their
: funds in response to a drop in value of the bank’s bond
: portfolios caused by the Federal Reserve’s ill-considered
: hikes in interest rates. The mindless policy implemented by
: the Federal Reserve cures inflation by producing bank runs,
: failed banks, and unemployment. The Federal Reserve and
: neoliberal economists are still stuck in the worn out
: thinking of 20th century Keynesianism.

: Yesterday federal regulators seized New York’s Signature Bank
: which was overwhelmed by deposit withdrawals. The banks’
: failures, with troubles reported afflicting Republic Bank
: (14th largest in the US) and reports that many Wells Fargo
: depositors experienced zero balances due to a glitch of the
: digital revolution has left those fortunate enough to have
: bank balances an entire weekend to work themselves into a
: panic about the safety of their own bank deposits. The
: question is whether panicked depositors rush to withdraw
: their money today (Monday, March 13, 2023). Hoping to avoid
: this, the Federal Reserve announced yesterday on Sunday
: that it would provide banks with cash to meet withdrawals.
: The Federal reserve announced that all depositors in
: Silicon Valley and Signature banks, including those with
: deposits above the insured amount, would be protected.

: With the Federal Reserve backstopping the banking system as it
: is supposed to do (and failed to do during the Great
: Depression), bank problems and the panic they produce will
: hopefully be contained. In the last 14 months, bank
: reserves have declined by $1.3 trillion.

:
: https://www.nasdaq.com/articles/analysis-declining-u.s.-bank-reserves-add-wrinkle-to-contentious-debt-ceiling-issue

: This means that banks are short the cash to meet withdrawals
: and would have to sell financial assets to meet
: withdrawals. These sales would depress the prices of the
: financial assets, and impair the banks’ balance sheets.

: Of course, as during the previous financial crisis, government
: and financial executives will make reassuring statements,
: such as the one made by Treasury Secretary Yellen last
: Friday when she reassured the public that the American
: banking system is resilient and well capitalized.

: But is it? The five banks labeled “too big to fail” have $188
: trillion in derivatives.

: https://www.usbanklocations.com/bank-rank/derivatives.html

: The brutal fact is that 5 US banks have risk exposure that is
: twice the size of the GDP of the entire world.

: https://fred.stlouisfed.org/series/NYGDPMKTPCDWLD

: It is incomprehensible that 5 US banks have sufficient capital
: to back derivative bets that are twice the size of world
: GDP.

: We owe the financial crisis earlier this century, and we will
: owe the next financial crisis, to the mindless repeal of
: the Glass-Steagall Act. This legislation was passed in 1933
: to deal with the crisis at that time. The law did so by
: separating commercial from investment banking. This
: prevented commercial banks from using deposits for
: speculative purposes. The law prevented financial crisis
: for 66 years until it was repealed in 1999 during the
: Clinton administration. Alan Greenspan, the Federal Reserve
: Chairman at that time, argued that markets were
: self-regulating and did not need Washington’s help. This
: suited the big banks fine. You can learn about the
: consequences from Michael Lewis’ books. In short, a couple
: of Wall Street firms failed along with banks and insurance
: companies. The five largest banks were protected by
: Quantitative Easing, thus leading to explosive growth in
: the Federal Reserve’s balance sheet, inflated values of
: financial instruments, and the current possibility of
: another financial crisis.

: Congress and economists would not admit their mistake in
: repealing the highly successful Glass-Steagall Act, but
: public resentment of big bank bailouts caused Congress to
: pretend to fix the situation. Congress “fixed” the problem
: it had created by legislating the ability of your bank to
: seize your deposits to prevent its failure. The law was
: deceptively called the Dodd-Frank Wall Street Reform and
: Consumer Protection Act of 2010. It claimed to “protect the
: American taxpayer by ending bailouts,” but did so by
: bailing out banks with the depositors’ money instead of
: federal tax revenues. It was said to be a “bail in” instead
: of a “bail out.” Ellen Brown explains it here:
: https://www.unz.com/article/what-will-happen-when-banks-go-bust-bank-runs-bail-ins-and-systemic-risk/

: There was no valid reason for overturning Glass-Steagall. It
: happened because public policy has ceased to be in the
: public interest, instead serving private agendas. The
: commercial banks wanted to participate in the speculative
: ventures like investment banks and enjoy the same high
: earnings. Instead of using their own money, they wanted
: access to the money of their depositors. Free market
: ideologues serving their free market ideology provided the
: justification. But as we relearned a few short years
: afterward, markets are not self-regulating. Thus the
: consequent distortion of the economy by a decade of
: Quantitative Easing, the consequences of which are not
: over.

: What can be done? Repeal Dodd-Frank Monday morning. It is the
: most foolish legislation since Prohibition. It protects the
: banks and the general taxpayer at the expense of
: depositors, thus encouraging runs on banks. It took a
: completely mindless Congress to pass such destructive
: legislation.

: Also drive home the message that all deposits are protected.
: It is important to realize that among deposits too large to
: be insured are monies for payrolls of large businesses.

: Then set to work with legislation requiring banks to
: restructure their investment bank operations and separate
: them in a different entity from deposit based banking with
: deposits insulated from investment banking.

: The effect would be to re-establish Glass-Steagall.

: It is possible that darker forces are at work. The five big
: banks, knowing that they are protected by the Fed, regard
: bank failures as opportunities to buy up assets for pennies
: on the dollar. The three New York banks, who control the
: New York Fed, the operating arm of the Federal Reserve,
: might even have their greedy eyes on Bank of America and
: Wells Fargo.

: A Looming Derivative Tsunami?

: The existing trillions of dollars of derivative bets were made
: when interest rates were lower. When these contracts are
: reset, it will be at higher interest rates, so the value of
: the bets would be adversely affected. Ellen Brown explains
: what might be a Derivative Tsunami.

:
: https://scheerpost.com/2023/03/12/ellen-brown-the-looming-quadrillion-dollar-derivatives-tsunami/

: One still reads in the financial media that banks finance
: businesses and new investment, but they don’t. Banks
: finance purchases of existing assets and speculative
: derivative bets that produce profits for investment banks
: but nothing real for the economy. Indeed, derivatives have
: become extreme risks with no productive purpose.

: If the Federal Reserve has any intelligence, this signals the
: end of the rising interest rates. Inflation will have to be
: brought under control with supply-side, not demand-side
: policy.

:
: ************************************************************************

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