Gary Cohn, the previous director of the National Economic Council under former President Donald Trump, discusses the Silicon …
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Expert advises all depositors to get their money out of collapsed bank
28 responses to “Expert advises all depositors to get their money out of collapsed bank”
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Trump 2024!
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This reporter is fake.
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Take your money out of Wells Fargo, even if they are not going out of business. They are negligent with wire transfers fraud … You know why? They aren't liable!
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And yet somehow we have billions and millions to send money to Ukraine?
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Glad i have a safe with all my money in it. suck it banks!
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simply put, banks are having the runs… your assets liquidated down the toilet
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well now its the third largest collapse
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LOL I don't want hard working Americans to suffer, how's this, you don't need banks to pay American works, you can pay in cash!!! You would need someone sort of lending company to lend for housing though….also you would prob need them to invest so they also have extra money to lend out and spend into the economy! But you don't need banks for payroll….use cash!!!
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So you start out saying; get your money out of the banks!! But then you back track and say keep your money in the banks because banks supports the economy via car loans, mortgage loans etc….So the banks want to keep business as usual when it comes to BUSINESS right… But wants the people to have empathy/ sympathy when it comes to you getting you hard earned money out of their money schemes…. WOW!!!
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Gary Cohn is just repeating the BS on how the elite want people to believe about banks. The big players want to eliminate small banks. His take on elections is even more laughable.
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Please don't spread panic, that's not nice
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Such bs! This man is not explaining properly.
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You cannot think that God is not looking at all of this and this is the word for those who will listen:
Zephaniah 1
17I will bring distress upon men,
And they shall walk like blind men,
Because they have sinned against the LORD;
Their blood shall be poured out like dust,
And their flesh like refuse.”
18 Neither their silver nor their gold
Shall be able to deliver them -
Relaxing regulation to encourage more banks opening is like relaxing FDA regulation to encourage more grocery stores. Gross.
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Get your money out
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The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
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FED creates the inflation and makes people poorer and poorer. Market adjusts itself by supply and demand and does not need FED to manipulate it. FED just needs to stop printing and cut spending. Credit cards have limit!! Don’t give away free money you do not have!
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So much baloney is in the media to cover for the ultrarich owners of the banks! If you own a restaurant or supermarket or florist or parts manufacturer or any other not-politically-connected business company, and you make a bad decision, you are out of luck and you lose all that you invested. That is what happens to the poorer 99% of Americans' little businesses.
However, in order to preserve the ultrarich's ownership of the banks, the government is being duped AGAIN (AS IN 2008, WHEN IT WAS CLAIMED THAT THE ECONOMY WOULD COLLAPSE AFTER THE COLLAPSE OF LEHMAN BROTHERS IF THE BANKSTERS WERE NOT ALLOWED TO REMAIN IN CONTROL OF THEIR INSOLVENT BANKS) to give free money to their banks to enable the same owners to remain in control — the owners who drove the banks into insolvency in 2008 and AGAIN now in 2023. They are AGAIN blinding US politicians with financial gooblygook which they specialize in as a way to confuse them and obfuscate the issues. (Owners of legitimate companies lose all ownership interest in those companies when the companies go into Chapter 11 bankruptcy and the companies' creditors become the new owners, OR the companies are dissolved, and the owners get $0, when the companies become insolvent.)
Most banks are now insolvent, because they avariciously, foolishly gamble to maximize the profits that they can suck out of banks: they only put in a TINY, or ZERO cushion of capital, which is all that banks have been required to keep, while they hold over $20 TRILLION of depositors' funds. See "Silicon Valley Bank Collapse Suggests 0% Reserve Requirement Won’t Halt Bank Runs" in Forbes. That means that even a 2% decrease in the value of their assets will wipe out the equity of most banks and render them legally insolvent. In other words, the banks' "assets" are mostly their depositors' funds: they may have 2% equity on $100,000,000 in total assets, so $2,000,000 would be theirs and $98,000,000 would be their customers' deposits and subject to their depositors' claims; thus, if the investments into which the $100,000,000 goes decline in value to even $97,999,999 in value, the banks are LEGALLY INSOLVENT. (Liquidity is a different issue; even if legally insolvent, if given money by their privately owned but deceptively named to confuse taxpayers, "FEDERAL" Reserve, they can pay their bills like a drug addict just loaned money by his parents may be broke and have huge credit card debts, except for that parents' cash which he can use to pay for food by not paying his credit card bills.)
See "Fed considers stricter capital requirements for midsize banks" in banking dive. See the politically incorrect Washington times “Lawmakers grilled Fed chair about plan to raise bank capital rules just before SVB collapse.” As an example of their gooblygook try to read: "A Brief History of Bank Capital Requirements in the United States" in clevelandfed org. To save you the trouble, let me just tell you that the authorities and the banksters’ “Fed” have not required that banks keep enough capital or even readily saleable assets for YEARS. The Republicrooks (who are the pawns, hos, and agents of the ultrarich have opposed any bank reform, except for the fake “Dodd-Frank” reform, which protected the banksters by providing for depositor bail-ins as political poison pills to force the government to bail the banksters out when their banks failed in the future) have all strongly opposed any capital increases: like the W H O’s hos they will do anything for the Benjamins.
Thus, right now, those who understand math know that a treasury, bond, or loan that pays $5,000, when interest rates are 5% per year is valued at $100,000 (ignoring risk, which would increase the required interest demanded by prospective purchasers.) However, if that treasury, bond, or loan pays only $2,500 or 2.5% of its face value, even if it might pay $100,000 in twenty years, has its value reduced by annual 10% inflation to only $50,000 plus the present value of the face amount to be paid in 20 years of $12,158 assuming zero risk. Remember: the $100,000 face value will be sharply reduced as inflation eats away its value, so $100,000 reduced by 10% (for example) to be paid in 20 years would have a real value in present terms of that amount with a 10% reduction each year of the remaining amount. After the first year, the face amount would be reduced in real value to $90,000 by that inflation. After the second, to $81,000; after the third, to $72,900, and so on. You could easily calculate that for 20 years by repeatedly multiplying $100,000 by .9 twenty times: $12,158. Force the reckless or incompetent bankers (the shareholders of banks who drove them into insolvency) to lose all ownership of any banks that have to get bailed out!!!
They ARE definitely getting bailed out, because the government is guaranteeing the insolvent banks' debts to the bank that purchases the insolvent bank, whatever some gullible politicians may claim!! Like Bernake, the "Fed" leaders will be getting $200,000 PER SPEECH for arranging for these reckless or incompetent bankers to keep ownership of their banks! See "Ben Bernanke Is Making $200,000 per Speaking Engagement" in The Atlantic.
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The failure of Silicon Valley Bank has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stocck portfoliio, what’s the best way to take advantage of this bear market?
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Are Russian Banks collapsing?
Are Chinese Banks collapsing?
So why are the US banks collapsing -
Better keep your money at home then in the bank.
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This is terrifying. Government bailed out GM, but won't bail out banks, which would likely stave off a Depression.
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Good times are ahead☺
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Go brwoke
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How about we stop letting these idiotic banks do whatever they want with our money? This is the result of BAD investment. The CEO needs to be held accountable as well as anyone else who had the insider info to remove their money before it collapsed.
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Miss trump yet?
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YouTube title is "Expert advises all depositors to get their money out of collapsed bank".
Where in this video did the Expert say this?
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