May 4, 2023
NT Commentary: These are facts folks. I’m seeing FAR too many smart people in this movement complaining about the hard truths that “truthers” are saying about the impending bank failures.
News flash: ITS MATH. Stop relying on people other people to do the work for you in protecting your wealth. Stand on your own two feet and empower yourself.
You believe all the banks can’t fail? Good for you. But before you make baseless assumptions, I’d string suggest you go and look at the PUBLICLY AVAILABLE reports from the FDIC. Look at the FED’s balance sheet. See how much money these (Privately owned) organizations have on hand. Then go look at any of the failing banks and see how much they have on deposit from customers.
You will find that one number (the customer deposits) is SIGNIFICANTLY LARGER than the other number (cash on hand at the FDIC).
Every bank has exposure to every other bank. The more that fail, the larger the snowball gets. The Fed DOES NOT have the money to bail out the banks.
Period.
This. Is. INEVITABLE.
There is NO WAY OUT.