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Ron Paul: Are Bank Failures a Sign of More Trouble Ahead?
Ron Paul: Are Bank Failures a Sign of More Trouble Ahead?
Posted on 03/21/2023 by EraOfLight — https://eraoflight.com/2023/03/21/ron-paul-are-bank-failures-a-sign-of-more-trouble-ahead/
Posted here by http://violetflame.biz.ly/
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The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it.
Major Swiss bank Credit Suisse was also teetering on the brink when it received a 54 billion dollars line of credit from the Swiss UBS Group last week. Now, UBS is in the process of buying Credit Suisse. Politicians, regulators, and financial “experts” all rushed to assure us these problems were all caused by factors unique to the individual banks and were not a sign of a systemic weakness in the banking system.
The bank failures and near failures caused nervous banks to borrow a combined 164.8 billion dollars in one week from the Federal Reserve’s discount window and the Bank Term Funding Program, a new program created by the Fed to make loans to troubled banks. The Fed created this program even though supposedly there is no systemic problem in the banking industry....+
https://eraoflight.com/2023/03/21/ron-paul-are-bank-failures-a-sign-of-more-trouble-ahead/
Posted on 03/21/2023 by EraOfLight — https://eraoflight.com/2023/03/21/ron-paul-are-bank-failures-a-sign-of-more-trouble-ahead/
Posted here by http://violetflame.biz.ly/
+@ https://gab.com/active_me
Reminder discernment is recommended.
The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it.
Major Swiss bank Credit Suisse was also teetering on the brink when it received a 54 billion dollars line of credit from the Swiss UBS Group last week. Now, UBS is in the process of buying Credit Suisse. Politicians, regulators, and financial “experts” all rushed to assure us these problems were all caused by factors unique to the individual banks and were not a sign of a systemic weakness in the banking system.
The bank failures and near failures caused nervous banks to borrow a combined 164.8 billion dollars in one week from the Federal Reserve’s discount window and the Bank Term Funding Program, a new program created by the Fed to make loans to troubled banks. The Fed created this program even though supposedly there is no systemic problem in the banking industry....+
https://eraoflight.com/2023/03/21/ron-paul-are-bank-failures-a-sign-of-more-trouble-ahead/
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