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The Great Bank Nationalization era is upon us
America's public-private CBDC future arrives at our doorstep sooner than we all anticipated.
The American banking system’s latest round of financial contagion began with the banks that were supposedly engaging in “riskier” practices and partnerships, such as Silvergate Bank and Silicon Valley Bank (SVB). However, it’s now become clear that the entire American regional banking landscape is facing the prospect of complete and total ruination.
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At the beginning of the week, we witnessed the seizure of First Republic Bank and its swift sale to JPMorgan Chase.
Only three days later, several additional top 100 banks, including PacWest and Western Alliance, are now hemorrhaging shareholder value in rapid fashion, with rumors swirling of imminent government involvement.
Treasury Secretary Janet Yellen, and the Biden Administration as a whole, undoubtedly has had a heavy hand in sparking this latest series of events. In late March, after the feds granted the tech bro depositors at SVB with the funds to socialize their losses, Yellen testified that the Federal Deposit Insurance Corporation (FDIC) would only protect banks with a “systemic risk” attached to their holdings.
Yellen’s decision to pick winners and losers, and the government’s failure to stay true to the FDIC limits in place, was a signal to the markets that dollars are only secure with depositors in the Big Banks. Yellen was basically telling every American that if you don’t have your money in Chase, Citi, Wells Fargo, Bank of America, and a few other select institutions, there is little to no chance of a federal bailout coming your way.
One of the more ill advised solutions to the problem involves moving FDIC insurance guarantees to *unlimited* levels. Though the idea is of an incredibly empty-headed nature (it relies on bamboozling the public into ignoring the insolvent nature of the system), it has caught on somewhat broadly within the ranks of the cantillionaire class.
Anyway, whether intentional destruction or incompetent idiocy is to blame for the current contagion, the end result is the same.
There are now thousands of banking institutions in the United States facing the prospect of insolvency. Many may have no choice but to commit to a firesale liquidation and hand over the keys to a member of the American banking oligarchy. Others will simply be seized by government bureaucrats and taken out of the conversation altogether.
Because our government and The Federal Reserve has decided to impose this top-down, anti-market “solution” to the banking contagion *that their policies created*, these forces have expedited the path towards an increasingly centralized economic structure modeled after the World Economic Forum’s feudalistic “stakeholder capitalism” system. Similar to the U.K’s “Britcoin” Central Bank Digital Currency (CBDC) project, America’s coming public-private CBDC system will bring the Big Banks into the fold as partners to its technocratic monetary tyranny.
Privacy advocate Matt Odell has summarized the newly fast tracked public-private CBDC surveillance regime quite well over at his Discreet Log publication.
“First, a hastened government led bank consolidation, then a public/private partnership with the remaining large banks to launch a surveilled and controlled digital currency network. We will be told it is more convenient. We will be told it is safer. We will be told it will prevent future bank runs. All of that is marketing bullshit. The goal is greater control of money. The ability to choose how we spend it and how we save it. If you control the money - you control the people that use it.”
A CBDC system will grant enormous additional power to the government and their oligarch partners. It allows for this ruling class to assert easier control over the population’s spending, saving, investing, and borrowing power. The far-left Keynesian economists and monetary theorists who populate America’s “elite” institutions believe these tyrannical and restrictive policies will help bring about economic utopia. However, reality tells us that implementation of this CBDC project will not only amount to a semi-permanent financial hellscape, but will also be disastrous for prosperity in America.
The public-private CBDC threat is now becoming more real than ever before, as the Great Bank Nationalization era arrives at our doorstep sooner than we all anticipated.