Today In Biden Land

[Kirkland Laing]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Low single digits.

[TIC]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Over here the savings of £85,000 is secured.

what percentage of svb deposits were insured?

[TIC]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Low single digits.

so if there are only low single digits of deposits insured with svb how are they going to guarantee & insure every penny deposited?

[palmerq]

Well that was in the article posted in Sunday,

"But a Treasury official said Sunday that regulators ultimately decided to move forward with the plan to make depositors whole, in part because it was proving to be challenging for a potential buyer to vet the bank’s books by Monday."

So they just decided they were going to cover it all, the funding is claimed to come from this method;

"The F.D.I.C. is usually supposed to clean up a failed bank in the cheapest way possible, but regulators agreed that the situation posed a risk to the financial system, which allowed them to invoke an exception to that rule. The regulator will tap the Deposit Insurance Fund, which comes from fees paid by the banking industry, to make sure it can pay back depositors.

The agencies said that “any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”"

[TIC]

Well that was in the article posted in Sunday,

"But a Treasury official said Sunday that regulators ultimately decided to move forward with the plan to make depositors whole, in part because it was proving to be challenging for a potential buyer to vet the bank’s books by Monday."

So they just decided they were going to cover it all, the funding is claimed to come from this method;

"The F.D.I.C. is usually supposed to clean up a failed bank in the cheapest way possible, but regulators agreed that the situation posed a risk to the financial system, which allowed them to invoke an exception to that rule. The regulator will tap the Deposit Insurance Fund, which comes from fees paid by the banking industry, to make sure it can pay back depositors.

The agencies said that “any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”"

thanks. has the fdic rerseve fund ever been fully funded? how much is the fdic usually short of it's total insurance exposer? i heard the fdic was granted the power to borrow over five hundred billion from the treasury department. would that make it back by the federal reserve?

[palmerq]

I will defer those questions to google because that's all I'd do to answer to them.

[TIC]

seems like the perfect opportunity for governments to push cbdc's

[NoSavingByTheBell]

It's the death of the Dollar basically. Central Bank digital currencies are about to totally lock down human beings forever. They will tell you what you are allowed to buy or sell and how much you can spend. Get ready folks

[Kirkland Laing]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Low single digits.

so if there are only low single digits of deposits insured with svb how are they going to guarantee & insure every penny deposited?

They just use the money they made selling killer vaccines for the covid scam.

[NoSavingByTheBell]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Low single digits.

so if there are only low single digits of deposits insured with svb how are they going to guarantee & insure every penny deposited?

They just use the money they made selling killer vaccines for the covid scam.

Why you finally got something right!

[TIC]

the authorities, Fed chair, Treasury Secretary, Biden all came out and told the American public your money is safe, your deposits are safe, the government will guarantee and insure every penny you have deposited.

what percentage of svb deposits were insured?

Low single digits.

so if there are only low single digits of deposits insured with svb how are they going to guarantee & insure every penny deposited?

the covid scam.

at least we agree convid was a scam

[Kirkland Laing]

Banking explained in sixteen seconds:

https://twitter.com/DannyDeraney/sta...50778584498176

[Kirkland Laing]

This is a bookmark for the forthcoming debt ceiling clusterfuck. Long story short, US government spending hasn't gone up in forty years while one section of the population have seen their taxes decrease significantly. Can you guess which section?

https://jabberwocking.com/yes-of-cou...e-to-tax-cuts/


It's actually quite misleading. Really it's the top 0.01% who have made the massive income increase/tax cuts.

The bloke who wrote this is a handy ten minute a day read if you want to know how all the moving parts in America fit together. He made a lot of money working for a tech company in California, retired early and was one of the first bloggers. Was so good he got paid to do it for the last twenty years and is now retired from being paid for it but has gone back to doing it for free.

[Kirkland Laing]

FsZ6qp1XwAE8KIp.jpg


The US electorate thinks the government spends too much money but they're happy with or would like to see more money spent on every category here except for foreign aid. Unfortunately it's less than one percent of the budget, Israel gets about ten percent of it which is popular and the rest has to be spent on American goods and services which provides employment and income for a number of Americans. Maybe they could just raise taxes on the top 0.1 percent or so.

[TitoFan]

I love graphs.

Amazing that as many as 11 percent of people polled said the government spends too much money on infrastructure.

I'd love to hear their "reasoning."