Only the Banks Favoured by the Elites to be Bailed Out! By Charles Taylor (Florida)
US Treasure Secretary Janet Yellen admitted to the U.S. Senate that the government will be selective in its bank bailout. The key extracts are cited below, but the main point is that, according to Yellen, “A bank only gets that treatment if a majority of the FDIC board, a super majority of the Fed board and I, in consultation with the president, determine that the failure to protect uninsured depositors, would create systemic risk and significant economic and financial consequences.” As expected, only the banks favoured by the financial elites will be bailed out. It is likely, as part of the globalist central banking plan, that the smaller banks will be allowed to fail, and be swallowed up by the big players, who always maximise opportunities in any crisis.
“Treasure Secretary Janet Yellen admitted to the U.S. Senate Thursday that the government is choosing winners and losers in the rigged bank bailout lottery. And wouldn’t you know it, the losers sure look like the smaller community banks the big banks (and Democrats) would love to see eliminated.
Oklahoma Republican Sen. James Lankford asked Yellen a very simple question:
Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now? Are they fully covered, every bank, every community bank in Oklahoma, regardless of the size of the deposit? Will they get the same treatment that SVBP [Silicon Valley Bank] just got or Signature Bank just got?
Please look very closely at Yellen’s terrifying answer:
A bank only gets that treatment if a majority of the FDIC board, a super majority of the Fed board and I, in consultation with the president, determine that the failure to protect uninsured depositors, would create systemic risk and significant economic and financial consequences.
In other words, if the FDIC likes your bank, the depositors are insured. If not, the depositors are not insured over $250,000, which means what?
It means that people will withdraw their money from community banks and hand those deposits over to a handful of fascist giant banks that not only own almost all the banking but will refuse to do business with you if you hold certain political opinions they find offensive… Oh, and you can bet those political opinions they find offensive will always-always-always be conservative opinions.
Lankford understands what these corrupt crony capitalists are up to and follows up with this:
“So what is your plan to keep large depositors from moving their funds out of community banks into the big banks?” Lankford asked. “We have seen the mergers of banks over the past decade, and I’m concerned you’re about to accelerate that by encouraging anyone who has a large deposit in a community bank to say, ‘We’re not gonna make you whole, but if you go to one of our preferred banks, we will make you whole at that point.’
Now that Yellen had been exposed and busted, she chose to answer this important question by playing stupid…
“Look, I mean, that’s certainly not something that we’re encouraging,” she said.
Lankford responded with the obvious: “That is happening right now!”
Yellen’s idiot act continued:
That is happening because depositors are concerned about the bank failures that have happened and whether or not other banks could also fail…
Lankford again tried to get her to answer the only question that mattered…
No, it’s happening because you’re fully insured no matter what the amount is if you’re in a big bank. You’re not fully insured if you’re in a community bank.”
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