Off and on for the past three years, I’ve posted numerous articles, videos, and podcasts concerning the impending Bank failures and subsequent Stock Market crash. Like many of the truthers that I follow I am not psychic, nor do I have inside information from some secret source. What I do do is research a lot of material, and try and provide my readers with the most current, and reliable information possible.
Social media has been ablaze of late with the upcoming March 11th change in the Basel III banking reserve requirements. Banks on that date will be required to have 20% of their reserves on hand to lend out.
This is a disaster in the making. Why? Because the money is not there. Combine this with the mass consolidation of the bigger banks gobbling up the smaller banks and we have an even bigger problem.
The U.S. is nearly thirty five trillion dollars in debt. Our interest payments on this debt alone is one trillion dollars a year. That’s just the interest payments. The dam is about to burst. Many have been saying that for years. Especially after the 2008 Market failures.
I’m not a prophet but I can see the writing on the wall. Both sides (White Hats and Black Hats) want this collapse. Why? In order to institute their new financial systems. In my opinion you’d better get ready because the house of cards is fixing to come crashing down. If not March 11th then sometime very soon. Before the election.
Egypt has repeatedly warned Israel that if they attack Rafah in southern Gaza, located on the border with Egypt, then they will go to war with Israel. Israel and Hezbollah continue their cat and mouse game. Many believe it’s just a matter of time before this situation becomes the next war front. Tensions over Iran are slowly escalating. A regional war in the Middle East could break out any time.
Putin just told the west and NATO again a few days ago that if hey allow Ukraine into NATO then that means war in Europe. He’s not bluffing either. This on top of the largest NATO military exercise in Europe since World War II. That’s is supposed to last into May or June. Large scale military exercises don’t last this long. So is NATO setting up for a preemptive strike against Russia?
I’m not a prophet but I can see the writing on the wall. Both sides (White Hats and Black Hats) want this collapse. Why? In order to institute their new financial systems. In my opinion you’d better get ready because the house of cards is fixing to come crashing down. If not March 11th then sometime soon.
Reportedly half of the U.S. Navy’s aircraft carriers have been sent to the Taiwan area in anticipation of a Chinese attack on Taiwan.
Not only are dark clouds gathering on the horizon, they are already here. The storm is no longer coming. It’s here.
BREAKING: Globalists Buying Gold And Silver As Fast As They Can Ahead Of Market Event
The Alex Jones Show Feb 26, 2024
Kirk Elliott joins Alex Jones live in-studio to issue an emergency warning to those who wish to preserve their wealth.
Excerpts from Alex Jones interview with Dr. Kirk Elliott:
Dr. Elliott:
And since the last time I was here, we have had major disruptions in the banking world, Alex.
When you look at why things happen, there's always a reason why banks fail.
There's a reason why stocks go up, stocks go down, bonds go up, bonds go down, gold or silver go up or down, right? There's always a reason. As an economist, that's what I look at.
So we've had over the last three weeks major disturbances in the banking world, right? We've seen stocks of things like Comerica Bank, PacWest Bank, New York Community Bank, and even Schwab. Just start to hit the skids.
Alex Jones:
By the way when you first came on months ago you predicted this.
Dr. Elliott:
Yeah. They, I mean because the writing was on the wall then and banking failure 2.0 was coming. Well I think it starts on, and I'm never a guy that says dates.
Because yeah I'm not God. I don't control the markets.
But March 11th, which is just right around the corner is when the bank temp funding program sunsets.
Alex Jones:
Now what's the bank temp funding program?
Dr. Elliott:
Remember after 2009 you had the stupid TARP bill? Just massive expenditures.
It was the emergency funding to bail out the economy. This bank temp funding program is the equivalent of TARP but just to the banking world.
So after Silicon Valley went down, you know, a year and a half ago, and you had the five other banks, you had Signature Bank, you had Credit Suisse, you had First Republic, and you had all those, Silvergate, they came up with the Fed emergency funding to inject capital into these failing banks to stop bank runs.
And it worked, but people were basically applauding them saying, look, whatever policies you guys used, you stopped the bank runs and the banking system is safe again. But they just kicked the can. They hit it, they put this bandaid on, but they never actually healed the wound. Because what is the wound in the banking system?
It's quite honestly, it's Bidenomics is what it is. When you've got wages that are coming down, when you've got unemployment that's rising, when you've got inflationary pressures that are caused by unrelenting printing of money, raising the cost of borrowing, raising rates to slow down inflation, all of that's the kiss of death to an economy.
So what happens in people's lives, Alex, when you've got all of that coming down? Their wages are coming down, people are unemployed, costs are going up, and the cost of borrowing is going up. Record private debt.
Bank failures 2.0 is coming because you've got more withdrawals and you've got deposits. And what banks invest in are the same things that you and I invest in. They just do it on a larger scale.
They invest in stocks, bonds, companies, real estate, whatever. So they've got malinvestment and more withdrawals and deposits.
So, of course, I'm gonna say banking failures are coming. But here's the big, huge problem that's happened within the last few weeks. The end of January, the Fed met. And they basically sunset this emergency funding provision.
March 11th, there is no more emergency funding for the banks. Okay, there's a huge problem that's coupled with that, and that is Basel III. The Basel III International Accords, which we've actually talked about before, but what is that?
So if you take a little bit of a step back in history, during the height of COVID in March of 2020, Regulation D, the Federal Reserve, they changed the reserve requirements to zero on banks. Well, what does that mean? If you deposit 100 bucks and the reserve requirement zero, the bank can lend out $100.
They don't have to have anything withheld. They don't have to hold anything back.
So these bankers are just sitting out there praying that not everybody's gonna wanna take withdrawals out at the same time, right? Checks at the same time because they don't have it, right? This is the nature of fractional reserve banking.
We just never thought that during the height of COVID, it wouldn't be fractional reserve, it would be no reserve banking, right? And so that's why you started to have bank failures.
So 0% reserve requirement does what? It stimulates the economy because the banks should supposedly lend out everything, get money out there into the hands of the people, and when they do that, they'll spend and that should grow the economy.
Well, it caused bank runs because of Bidenomics and people aren't working and people are losing their jobs and their wages are coming down and this is a problem. 69% of people are in deep credit card debt and are living paycheck to paycheck.
And if you look at the creation of money, what Biden's created now, almost as much in three years as was ever created in the history of the country.
Yes. I mean, you go straight up. Absolutely.
And then it causes inflation, so they raise interest rates on top of it.
It's like those cartoons with Tom and Jerry where the cat has like a hundred plates and stuff in his hands, he can't hold it forever. Yeah.
So we're really close now where it's gonna come down. Well, it is.
Watch the cover video or listen to the podcast for the entire interview.
The West could collapse – Latin American leader
24 Feb, 2024 20:34
The US dollar is backed by nothing and its fall will drag down the rest of the world, El Salvador’s Nayib Bukele has declared
The US economy is based on the “farce” of printing unlimited amounts of money, and Western civilization will collapse when that bubble “inevitably bursts,” Salvadoran President Nayib Bukele warned American conservatives on Thursday.
Fresh from winning a second term in office with 84% of the vote, Bukele arrived at the Conservative Political Action Conference (CPAC) in Maryland to a hero’s welcome. Hailed by American right-wingers for his adoption of Bitcoin as legal tender and his iron-fisted crackdown on gang crime, Bukele closed his speech with a call for massive structural changes to the US economy.
Conservatives, he said, “always tell me that the problem is high taxes, but they are wrong.”
“The real problem is that you pay high taxes only to uphold the illusion that you are funding the government, which you are not,” he claimed, before describing how the government is financed by Treasury bonds, which are purchased by the Federal Reserve with printed money backed by the bonds themselves.
“The government is funded by money printing, paper backed by paper. A bubble that will inevitably burst,” he said, adding that “the situation is even worse than it seems, because if most Americans and the rest of the world were to become aware of this farce, confidence in your currency would be lost. The dollar will fall, and Western civilization with it.”
“If the next president of the US does not make the necessary policies and structural changes, sooner or later that bubble will burst,” he concluded. “It will take a total re-engineering of the government from top to bottom.”
Gold backing of the dollar was removed in 1971 when President Richard Nixon reneged on the Bretton Woods system set up after World War II that provided for convertibility of the dollar into gold at a fixed rate. The US’ national debt has since exploded, soaring from $232 billion in 1971 to $34 trillion at the beginning of this year.
Republican lawmakers and the White House agreed last June to temporarily lift the nation’s debt ceiling, postponing what would otherwise have been a cataclysmic default. The agreement will last until 2025 when it will likely be renewed.
READ MORE: China hints at its asymmetric warfare system aimed at dethroning US dollar.
Bukele is best known for reducing El Salvador’s homicide rate from 38 per 100,000 when he was elected in 2019 to 2.4 at the end of last year. He achieved this feat by declaring a state of emergency in 2022 and jailing more than 75,000 suspected gang members, a crackdown that was harshly condemned by liberal NGOs and human rights organizations.
“The people of El Salvador have woken up, and so can you,” he told the crowd at CPAC. Pointing to rising crime and drug use on the streets of American cities, he called on conservatives to “put up a fight because in the end it will be worth it. You will have your country back.”The Truth Is Stranger Than Fiction!
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