Yellen Says No Federal Bailout for Silicon Valley Bank Another Banking System Bailout Announced
March 12th, 2023
On Friday, we said that the Fed will have to make an announcement before the Monday open, and we didn’t have to wait that long: in fact, the Fed waited just 15 minutes after futures opened for trading to announce the new bailout, alongside even more shocking news: the Treasury announced that New York State regulators are shuttering Signature Bank – a major New York bank – adding that all depositors both at Signature Bank, and also the now insolvent Silicon Valley Bank, will have access to their money on Monday.
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Update: SVB Collapse Sparks Bank Runs:
On Saturday, just like the bank run scene from It’s a Wonderful Life, images and videos surfaced on social media of people lined up outside SVB branches and other SVB-exposed banks, trying to panic-withdraw as much money as they could.
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Via: AP:
Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.
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“We’re not going to do that again,” she said. “But we are concerned about depositors, and we’re focused on trying to meet their needs.”
With Wall Street rattled, Yellen tried to reassure Americans that there will be no domino effect after the collapse of Silicon Valley Bank.
It’s a Wonderful Life —one of the best movies ever made. Director Frank Capra’s career—he had previously won three Academy awards for best director—seemed to run into some significant headwinds right after the release of the film. I have a coincidence theory.
Jay Dyer does an analysis of the string pullers of the World, and the various tools they use—capitalism, Marxism/communism, socialism, war, revolution, but above all–fiat (fraudulent) money created from thin air. Fiat money as a revolutionary technology, at minute 48:
https://jaysanalysis.com/2023/03/08/the-secret-history-of-communism-dialectics-technocracy-cia-ops-more-half-jay-dyer/