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3/11/24: Jerome Powell Openly Admits That Banks Will Collapse This Year

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By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this forthcoming surge of calamities shall be within the realm of “manageable.” Another round of deceit from the Fed, as expected.

Powell acknowledged Senator Catherine Cortez Masto’s concerns regarding the stability of the banking sector and their exposure to commercial real estate. He confirmed that the Federal Reserve is closely monitoring the situation and is in communication with banks identified as being at risk. While Powell did not reveal specific institutions or numbers, he did mention that more banks are expected to fail this year, particularly medium and small banks with higher exposure to commercial real estate.

The shift towards remote work has brought about a significant change in our society. As a result, downtown office districts in many cities are now sparsely populated, with numerous empty buildings standing as a testament to this transformation. The impact of this change extends beyond just the office spaces themselves; the retail establishments that once catered to the bustling workforce are now feeling the pressure as well. Many of these buildings have received loans from banks, which adds another layer of complexity to the situation. Recognizing this shift, we have been closely monitoring banks with high concentrations of commercial real estate, particularly those heavily affected by the changes in the office and retail sectors.

We engage in dialogue with these banks, asking crucial questions to assess their preparedness: Do they have a firm grasp on the problem? Do they possess sufficient capital and liquidity? Do they have a plan in place? We also emphasize the importance of honesty and transparency in facing the inevitable losses that may arise. This ongoing collaboration has been in progress for quite some time. It is evident that this is a long-term challenge that will require our continuous efforts. While there may be instances of bank failures, it is important to note that the larger banks are not facing this issue as a primary concern.

Instead, it is the smaller and medium-sized banks that are grappling with these challenges. We are committed to working alongside them, navigating through this situation. I believe it is a manageable task, although it remains an active and dynamic process for us and other regulatory bodies. This journey will continue for the foreseeable future.

Senator Cortez Masto then inquired about the risk of contagion, expressing concerns about other banks being affected due to investors and customers withdrawing their funds and selling off stocks. In response, Powell assured, “We are proactively addressing this issue. We have been in contact with banks that have significant amounts of uninsured deposits, especially those heavily invested in commercial real estate within the office sector. We are closely monitoring the situation on a bank-by-bank basis, and overall, we have managed to stay ahead of any potential problems so far.”

Around this time last year, when Silicon Valley Bank (SVB) was crumbling and causing a global financial crisis, Treasurer Janet Yellen found herself in the hot seat at a Senate Banking Committee hearing. It was a crucial moment when Yellen made a startling revelation. She openly admitted that the Federal Reserve and Treasury would take action to save and rescue the “too-big-to-fail” banks or any other institution that held great importance to them. However, she also made it clear that smaller banks would not receive the same level of support.

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The HNW has issued warnings about a banking collapse for years, and now the signs are impossible to ignore, as this bankster gangster openly acknowledges the impending collapse. Remember when they assured us it was “contained” last year? Remember when they claimed inflation was “transitory?” Well, we can all see how that’s turning out…

“Manageable?” What does manageable even mean, sir? He won’t define it, but I will: we, the American taxpayers, will once again be on the hook for these collapses, as always; the big players will face consequences too, but they’ll receive preferential treatment, while your local bank may struggle or be absorbed by a larger institution.

What we are witnessing is a mass-consolidation, with central banks fulfilling their endgame of being the buyers and lenders of last ,Yoked resort.

The rich ruleth over the poor, and the borrower is servant to the lender.Proverbs 22:7

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