The American Banking system is nothing more than a Ponzi scheme. The architect of the scheme is a private corporation named The Federal Reserve.
The SVB and Signature bank failures last week made US citizens cognizant of the fact that their money isn’t so safe in US banking institutions.
The FDIC only insures US depositors up to $250,000. If you have account values over that amount, you are always at risk of losing said funds.
On Sunday evening, the US Federal Reserve made an emergency decision to back the losses of all depositors above and beyond $250,000. Wasn’t that nice of them?
What that means moving forward is that the FDIC will now insure all depositors’ accounts fully. The $250,000 insurance limit is gone!
The Federal Reserve had no choice in the matter whatsoever. If it had not acted as it did on Sunday evening, there would have been a run on all US banks and the Ponzi scheme would have collapsed.
Where did the Federal Reserve get all this money to bail out SVB and Signature bank? Where did the Fed get the money to insure every US bank depositor above and beyond $250,000?
The Fed accomplished this magic trick the same way it has accomplished prior sleight-of-hand performances; it created money out of thin air backed by nothing but a promise that the currency is authentic and supported by the corrupt system.
If you or I didn’t have enough money in a bank account to cover monthly expenses, we’d be out of luck. If we wrote checks to pay bills and had zero dollars to cover those checks, we’d be thrown in jail.
The same banking rules that apply to you and I do not apply to the Fed. If the Fed needs more money to patch up its Ponzi scheme, it just creates more dollars out of thin air and dumps those new dollars into the system. Every time the Fed pumps newly created dollars into the system, it creates more inflation that makes the dollars you and I have already earned less valuable.
The Federal Reserve should begin cutting interest rates soon. The Ponzi scheme can’t handle the current high-interest rates that were raised to fight inflation.
The US banking system is a ticking time bomb and when the Fed finally runs out of magic tricks, it is not going to be a happy ending for bank customers.
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