by Chris Black
Call me a conspiracy theorist, but this seems to have been done on purpose.
Large US banks inundated with new depositors as smaller lenders face turmoil t.co/80VqmYSKzB
— Financial Times (@FT) March 14, 2023
Cue Darth Vader voice:
“Your CBDC currency will be issued based on pre-determined funding from one of 10 remaining banks working in partnership with the Treasury and Fed that customers can choose from. If you like your bank you can keep your bank.”
All must pay homage to the invisible overlords behind Vanguard, State Street, Black Rock et al in order to survive.
We can’t have smaller regional banks eating away the profits of larger banks.
SVB was selected as their internally owned and controlled sacrificial lamb, on the pre-knowledge that uninsured deposits would be bailed out, so that consolidation and acquisitions may follow at the right market price.
Moreover, the resulting flight of deposits from smaller banks to bigger banks also staved off pending debt calamities and reduced credit ratings for those banks identified as TBTF.
Mission accomplished.
The truth is, the entire banking system is insolvent, because the entire global dollar system is insolvent, but of course that problem isn’t going to get fixed, and the only way it will fix itself is either via tyranny, or total collapse.