Thursday, March 23, 2023

In the #News #Politics #BankingCrisis Here it Comes

“If you don't read the newspaper, you're uninformed. If you read the newspaper, you're misinformed.”

“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”

― Mark Twain

Subscriber Comments

March 06, 1933

THE NEW YORK TIMES newspaper dated March 6, 1933. This issue has a very historic, two line banner headline: "ROOSEVELT ORDERS 4-DAY BANK HOLIDAY, PUTS EMBARGO ON GOLD, CALLS CONGRESS" with the Proclamation printed in full on the front page. This action would have the desired effect of stopping the panic run on the nation's banks, and happened the day after F.D.R. was inaugurated. Rag edition in great condition. One of the more historic issues from the Depression-era, and great to have in this famous title.

Could Easily Be A Headline in 2023

The longer this circulates on social media, the more in will be marginalized by the world's smartest people. @elonmusk

Yellen is the wrong person for the job, and it's beginning to influence markets and deposits. Her hands-off approach to geopolitics means the US will be slow to respond to the evolving crisis. The crisis, which many are beginning to realize as the banking crisis, is much deeper than the majority realizes. The West has borrowed for decades, and the invisible hand is reluctant to accommodate the empire. The invisible hand is not stupid, it won't stick around in banking deposits while the ship sinks. Commercial banking deposits, nearly $18T, rarely decline like this. Whistle past the graveyard if it helps, but the ghosts are coming for us.

Commercial Banking Deposits

The US Treasury better stop picking its nose (figuratively) and stand behind deposits, or this will get worse. The Fed cannot cut rates! Social media is screaming for a cut, and monetization of all the debt, but it's not going to happen while war drives prices higher.

The longer the White House does nothing, the more confidence falls, and the faster deposits are going to disappear. Yellen has already retired, she just doesn't know it yet.

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