I want to reach a larger audience and I need your help. Thanks.
I want to reach a larger audience and I need your help. Thanks.
"When you believe your own propaganda, you make bad decisions!" -- Michael Rivero
The policies of the US Federal Reserve are responsible for the unfolding banking crisis and could lead to more failures in the sector, Chairman of the Institute for Political Economy Paul Craig Roberts believes.
The official, who served in the US Treasury in the 1980s, talked to RT about the recent high-profile bank failures that have rattled the US financial system and the potential fallout of those events.
“For many years, the Federal Reserve kept the rates very low, so the interest on the financial assets that the banks have on their balance sheet is low. When the rates start rising, the values of their portfolios fall, but their liabilities don’t,” Roberts explained.
The United States Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks not to support any crypto services.
The FDIC regulators have asked banks interested in acquiring failed U.S. lenders like Silicon Valley Bank (SVB) and Signature Bank to submit bids by March 17, Reuters reported.
The authority will only accept bids from banks with an existing bank charter, prioritizing traditional lenders over private equity firms, the report notes, citing two sources familiar with the matter. The FDIC aims to sell entire businesses of both SVB and Signature, while offers for parts of the banks could be considered if the whole company sales do not happen.
The FDIC has also required any buyer of Signature to agree to give up all cryptocurrency business at the bank.
Former White House press secretary Jen Psaki – now a host on MSNBC – took a shot at Fox News' Tucker Carlson in light of court filings suggesting he doesn't believe some of the things he feeds his viewers.
“I had about 20 seconds where I thought … Tucker Carlson, maybe he’s one of us,” she said during an episode of “The Late Show with Stephen Colbert.” “And then, by second 21, I thought, wait, he is intentionally sharing disinformation with his audiences and treating them like they are stupid, frankly, so that he can save his job, save viewers and make money.”
This week, as you know, I've been blogging about the growing movement in the USSA which, for want of a better description, we'll simply describe as the "pushback movement." This movement is really part of a growing global phenomenon of revolt against globaloneyism and its lack of any unifying culture except greed, graft, and grift, the three Gr's that made the Bai Den Jo family one of the most successful oriental gangs in history. At the top of this list of pushback this week you can include the governor of my home state, Kristi Noem, who just vetoed a bill from the South Dakota legislature that would have recognized central bank digital currency - we'll call them "fedgimmicks" for convenience and ease-of-use's sake - but not other crypto-currencies:
A new artificial intelligence program can keep up with human beings on a number of professional and academic tests, according to its creator, which said the model scored among the top 10% of test-takers on a simulated bar exam.
Technology firm OpenAI unveiled its latest language model on Tuesday, dubbed GPT-4, saying the program is “more reliable, creative, and able to handle much more nuanced instructions” than its predecessor, GPT-3.5.
“GPT-4 is a large multimodal model (accepting image and text inputs, emitting text outputs) that, while less capable than humans in many real-world scenarios, exhibits human-level performance on various professional and academic benchmarks,” it said. “For example, it passes a simulated bar exam with a score around the top 10% of test takers; in contrast, GPT-3.5’s score was around the bottom 10%.”
Pfizer has offered to extend its Covid-19 vaccine contract with the European Union while scaling back deliveries, but still expects the bloc to pay billions of euros for unused doses amid a major supply glut in some countries, the Financial Times has reported. The offer prompted outrage from a handful of member states, who say the deal would serve the interests of Big Pharma over their own citizens.
The contract extension would push the vaccine agreement out to 2026, with a proposed 40% reduction in the number of doses supplied as well as delays to deliveries, the newspaper reported on Tuesday, citing two unnamed officials.
However, despite the suggested cuts, the US pharma giant still insists that it be paid for the full number of doses originally agreed upon, many of which would never be produced under the new terms.
March 15 marks the 12th anniversary of the Syrian conflict which started with unrest that later translated into a multinational standoff fanned by the collective West. Russia's involvement turned the table on the war, disrupting the attempts to isolate Damascus.
Russian President Vladimir Putin and his Syrian counterpart Bashar al-Assad held talks on Wednesday, March 15. Assad is still at Syria's helm despite the collective West's bid to replace him with a jihadi proxy during a bloody civil war which erupted exactly 12 years ago.
Do you remember when wealthy people all over the world would stash their money in Swiss banks because there were so strong and so private? Well, the second largest bank in Switzerland is literally on the brink of collapse. As I discussed yesterday, Credit Suisse is a prime candidate to be one of the next dominoes to fall. It has been on very shaky ground for a long time, and now the global banking panic has greatly accelerated the outflow of assets from the bank. So why should you care if it fails? Unlike Silicon Valley Bank and Signature Bank, Credit Suisse is so critical to the worldwide banking system that it has officially been designated “as being systemically important by the international Financial Stability Board”
Joe Biden wasn’t always the radical, commie-loving socialist you see in the White House. For nearly forty years, he served in the Senate, a good, yes-man to the Washington establishment. But, since 2021, he has seemingly bent the knee to the woke left, pushing whatever idiotic ideas they give him.
Recently, his official Twitter account posted a “letter” supposedly from a child complaining about the “gender wage gap.” This is a myth long pushed by Democrats, that companies pay women less because of their gender.
Lieutenant General Igor Kirillov, Chief of Russian Military Nuclear, Biological, and Chemical Protection Troops, cites the work of Project Veritas, the Stew Peters network, and specifically mentions my med-legal analysis, including citing the legal definition of mRNA technology as a bioweapon under 18 USC 175.
Stew Peters asked a great question during the interview which was,
Rep. Maxine Waters (D-CA), the ranking member on the House Financial Services Committee, said she plans to give back the campaign donations she received from the political action committee for Silicon Valley Bank.
Following the bank’s collapse last week, Waters said she would return the $2,500 from the bank’s PAC she took in late 2020 when she was chair of the Financial Services Committee in the Democrat majority.
One year ago the FDIC suffered a hostile takeover from the Biden gang. A year later the FDIC is bailing out banks with a significant number of Chinese venture capital accounts.
In February of 2022 President Trump’s FDIC Director resigned after what she claimed was a hostile takeover by the Biden regime. She was appalled with the actions taken by those close to Biden.
A year later two banks fail that were run by woke liberals who donated to the Democrats. Silicon Valley Bank had a large number of deposits that were related to Chinese venture capitalists. Barney Frank was on the board of the other bank bailed out by Biden, Signature Bank.
Senator JD Vance says that community banks will take the fall for the bailouts of SVB and Signature Bank failures.
Vance was on with the War Room and he shared that over 90% of SVB deposits were uninsured deposits.
What we basically did is we’re going to charge community banks higher fees to put more money into Silicon Valley Bank to bail out depositors. I think that’s a catastrophic decision.
Mexico's Defense Department said Tuesday that soldiers found over 1.83 million fentanyl pills at a stash house in the border city of Tijuana. The discovery came just one day before Mexico's president claimed the synthetic opioid is not produced in the country.
The department said in a statement that soldiers staked out the house Sunday after authorities received a tip that the site was being used for drug trafficking.
After obtaining a search warrant, soldiers found the nearly 2 million synthetic opioid pills and 880 pounds of meth at the house, the statement said. No arrests were made.
On Wednesday, a former chairman of the Federal Deposit Insurance Corporation (FDIC) warned that there will “probably” be even more bank failures in the United States following the failure of the Silicon Valley Bank (SVB), describing it as a “cleanup” process.
The Daily Caller reports that William Isaac gave his warning on Neil Cavuto’s show on Fox News, saying “there’s probably going to be more failures along the way,” and that “the problem we have is the same one that we had back in 1970s when the government was out of control with its fiscal policies, its monetary policies, inflation set in, and banks were just not ready for that.”
“The thrifts were not, either. We wound up losing some 5,000 banks during that period,” Isaac noted further. “We won’t lose anywhere near that number this time because we don’t have that many. We lost so many. We only have about 4,500 banks today,”
On Monday, a federal appellate court ruled that the firing of a New York man who refused to attend a pro-LGBTQ training session was legal.
As reported by the New York Post, Raymond Zdunski argued in his lawsuit that his employer, the Erie 2-Chautauqua-Cattaraugus Board of Cooperative Educational Services (BOCES), attempted to “change his religious beliefs about gender and sexuality” by forcing him to attend a diversity training session focused on people who claim to be LGBTQ. His employer refused his request for a religious exception, citing his Christian beliefs.
Zdunski subsequently sought $10 million in damages, as well as reinstatement and back pay. The lawsuit was originally dismissed last year by District Judge Geoffrey Crawford. The recent ruling by the Manhattan-based 2nd U.S. Circuit Court of Appeals agreed with Crawford’s original decision, supporting BOCES’ decision to fire him.
And then there are those pending rules for refrigerators, coming as soon as 2027.
The Heritage Foundation's Travis Fisher reacted.
"When you're squeezing all you can out of the efficiency in terms of electricity use and water … you by definition either make the appliance worse or slower," Fisher said. "Why are we so focused on the energy output, as opposed to if it's helping me wash my clothes? That standard has kind of gone off the rails."