Banks Want a Break From the FDIC
May 17, 2023

FDIC
A lot of this spring’s US regional banking crisis can be explained this way: Banks bought a lot of Treasury bonds and other US government-backed securities when interest rates were low, paying roughly 100 cents on the dollar for them
Interest rates went up a lot, driving the prices of those bonds down to, say, 85 cents on the dollar.
Banks had big losses on those bonds, eating through a lot of their capital.People noticed, stocks went down, deposits fled, some banks failed and others have looked shaky.
One solution to this crisis would be that, if the bonds magically went back to being worth 100 cents on the dollar, the banks would mostly be fine again.

Another solution to this crisis would be that, if the US government just bought the bonds from the banks at 100 cents on the dollar, the banks would mostly be fine again. Of course then the government would have paid 100 cents for stuff worth 85 cents, which seems bad. But through the magic of held-to-maturity accounting, you can sort of wave your hands and pretend that it’s not bad. If the government paid 100 cents today for a bond worth 85 cents, and then held it until it matured, it would get back 100 cents. (Plus interest, though not very much.)

The FDIC has spent billions of dollars on its bank rescues — which is also a transfer of losses from banks to the government to make the banking system more solvent — but it is getting the money back by charging a special assessment to be paid by about 113 big  banks. If the banks pay the assessment with Treasuries that are worth 90 cents on the dollar, but that count for 100 cents on the dollar, then they get a little discount on the assessment and get to move unpleasant assets off their balance sheets.

https://www.bloomberg.com/opinion/articles/2023-05-17/banks-want-a-break-from-the-fdic

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ONGC Videsh raises $500 million loan from consortium of banks
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BREAKING: The Federal Government of Pakistan has decided to ban cryptocurrency in the country.

All cryptocurrency exchanges in the country will be banned and their usage will be illegal and a criminal offence.

JUST IN: Hong Kong Monetary Authority launches digital Hong Kong dollar (CBDC) pilot.

Obviously this has been going on but we have not been hearing from the media!

23 US states move to recognize gold and silver as legal tender

Senate has already passed a bill in Arizona
In Arizona, the state Senate has passed a bill that recognizes gold and silver coins minted by the US government as legal tender, and removes state capital gains taxes on the exchange of precious metals. Wyoming has introduced a similar bill, which would also allow for the creation of a depository to hold precious metals for use in transactions. Texas has introduced legislation that would recognize gold and silver coins as legal tender and create a depository to allow citizens to store their precious metals in a secure facility.
Despite concerns about the practicality of using precious metals as currency, the trend towards recognizing gold and silver as legal tender appears to be growing.

It’s clear that this shift in the way US states view currency has the potential to have far-reaching implications. As the article concludes, “Only time will tell whether gold and silver will become a more widely recognized form of legal tender, but for now, it seems that a growing number of US states are taking steps towards recognizing precious metals as a legitimate form of currency.”

Ledger update

US rolling out the digital Dollar in July. No one seems to care. For now.
This will change soon of course.
Beginning of enslavement of their citizens.

Credit: Clayton Morris

T.me/TruthExtra
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Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks
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MarkZ 10 minutes
https://www.youtube.com/live/pwd-q3UhTn8?feature=share

Nothing has changed. I’m still receiving good news. Some of the people I know personally are under NDA.
Please keep the faith and stay close to God.

God bless you all

Wolverine