By SRH,The federal authorities seem to be on the verge of closing down the Regional National Banks in order to usher in digital currency. Tribulations Playing Out In Real Time!.
Unnoticed by the masses, the Federal Reserve ceased its emergency bailout program yesterday, designed to provide financial support to banks and other institutions in the aftermath of the Silicon Valley Bank collapse. To prevent widespread panic and bank runs following SVB’s collapse, the Federal Reserve established the Bank Term Funding Program (BTFP), offering more than $2 trillion in loans to help banks cover losses and withdrawals resulting from failed loans, bonds, derivatives, and other assets impacted by interest rate hikes.
However, Last Month U.S. Treasurer [grannie] Yellen assured the Senate that all is well and the financial system is “stable.”
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In an interview with Marketplace, Joseph Wang, chief investment officer at Monetary Macro, stated a year ago:
This is essentially the largest bailout to the banking sector [since the financial crisis of 2008–09].
In central banking, one of the fundamental principles is that you lend to solvent banks with good collateral at above-market rates because the role of a central bank, as we understand, is to be a lender of last resort. However, that [new] bank facility goes against all those principles.
I believe there is a moral hazard element to this.
He mentioned – as a “moral hazard” implies that since the public is assured that they will be protected, this could lead to incentivization once again.
Powell mentioned that this program would only be in place for a year. Now, on March 11th, that program officially concluded.
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In late-January, the Fed officially declared that the program would end on March 11th and what that would involve:
The rich rule over the poor, and the borrower is servant to the lender.
Proverbs 22:7
During a time of strain in the recent spring, the Bank Term Funding Program played a crucial role in ensuring the stability of the banking system and providing economic support. Even after March 11, banks and other depository institutions will maintain convenient access to the discount window to fulfill their liquidity requirements.
As the program nears its conclusion, the interest rate for new BTFP loans has been adjusted to ensure that the rate for new loans granted from now until the program expires will not be lower than the interest rate on reserve balances at the time of loan origination. This rate adjustment guarantees that the BTFP continues to align with the program’s objectives in the current interest rate environment. This modification is effective immediately, while all other program terms remain unchanged.
However, based on data from the Federal Reserve itself, banks have still been increasingly relying on borrowing liquidity to sustain their operations as we entered this year. The trend line has risen from its previous highs and has consistently remained at an elevated level until yesterday. Approximately $164 billion has been borrowed as of last Wednesday.
“The rich rule over the poor, and the borrower is servant to the lender.”
Proverbs 22:7
I’ve been pondering over this arbitrage opportunity and feeling somewhat disheartened that the amount of borrowing taking place through this facility isn’t a trustworthy gauge of the banks’ current health. We’ll soon discover who’s exposed when it all comes crashing down in March…
This announcement about the termination of the BTFP arrives amidst Powell’s recent acknowledgment that there will inevitably be bank collapses later this year, particularly due to the strains caused by defaults in commercial real estate and soured loans.
It appears that relatively little attention is being paid to this really important news. A very large percentage of Americans had no idea this program even existed!
As a result of the Ponzi scheme, which is completely false, wealth and money are vanishing at a frightening rate. The banks are about to go bankrupt, and ordinary Americans will feel the effects of this disaster very soon. This program has done little more than increase the load of debt while putting off the inevitable, rather than fixing the fundamental problems. We will find out who has been taking advantage of this situation for their own benefit soon enough.
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It is my deepest hope that you will immediately remove your money from the banks. Be careful not to retain more money than is absolutely required for meeting minimum balance requirements, making online transactions, and paying bills.
Nevertheless, you must restrict your contact with these establishments. Credit unions provide a more secure option, but they aren’t infallible either. Anywhere other than a bank could be a good place to keep your valuables, including under your mattress or in a personal safe. I have been warning people about this disaster and its inevitable collapse of the commercial real estate market since January 2021, long before most people even realized it was coming. However, many still refuse to listen to me.
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