Jerome Powell Openly Admits That Banks Will Collapse This Year

By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this forthcoming surge of calamities shall be within the realm of “manageable.” Another round of deceit from the Fed, as expected.

The senator’s worries about the banking sector’s soundness and its exposure to commercial real estate were acknowledged by Powell. He verified that worried banks are receiving updates from the Federal Reserve, which is keeping a careful eye on the situation. Although Powell refrained from naming names or providing exact figures, he did say that additional banks, especially smaller ones with a greater reliance on commercial real estate, are likely to fail this year.

The transition to remote employment has resulted in substantial changes in our culture. As a result, many cities’ downtown office districts are now sparsely populated, with countless vacant buildings serving as evidence of this shift. This transition has an impact on more than just office buildings; retail companies that once catered to the bustling workers are now feeling the squeeze. Many of these buildings have obtained bank loans, adding to the intricacy of the problem.

Recognizing this development, we have been closely watching banks with a high concentration of commercial real estate, particularly those that have been significantly impacted by changes in the office and retail sectors. We engage in communication with these banks, asking critical questions to assess their preparedness: Do they have a strong understanding of the problem? Do they have enough money and liquidity? Is there a plan in place? We also emphasize the necessity of honesty and transparency in dealing with inevitable losses. This continuing collaboration has been underway for quite some time.

It is clear that this is a long-term difficulty that will necessitate ongoing efforts. While there may be cases of bank failures, it is crucial to remember that larger banks are not prioritizing this issue. Instead, smaller and medium-sized banks are facing same issues. We are committed to helping with them to navigate this issue. I feel it is a manageable assignment, though it is still an ongoing and dynamic process for us and other regulatory agencies. This trip will continue for the foreseeable future.

Senator Cortez Masto then inquired about the risk of contagion, expressing concerns about other banks being affected due to investors and customers withdrawing their funds and selling off stocks. In response, Powell assured, “We are proactively addressing this issue. We have been in contact with banks that have significant amounts of uninsured deposits, especially those heavily invested in commercial real estate within the office sector. We are closely monitoring the situation on a bank-by-bank basis, and overall, we have managed to stay ahead of any potential problems so far.”

Around this time last year, when Silicon Valley Bank (SVB) was crumbling and causing a global financial crisis, Treasurer Janet Yellen found herself in the hot seat at a Senate Banking Committee hearing. It was a crucial moment when Yellen made a startling revelation. She openly admitted that the Federal Reserve and Treasury would take action to save and rescue the “too-big-to-fail” banks or any other institution that held great importance to them. However, she also made it clear that smaller banks would not receive the same level of support.

The HNW has issued warnings about a banking collapse for years, and now the signs are impossible to ignore, as this bankster gangster openly acknowledges the impending collapse. Remember when they assured us it was “contained” last year? Remember when they claimed inflation was “transitory?” Well, we can all see how that’s turning out…

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“Manageable?” What does manageable even mean, sir? He won’t define it, but I will: we, the American taxpayers, will once again be on the hook for these collapses, as always; the big players will face consequences too, but they’ll receive preferential treatment, while your local bank may struggle or be absorbed by a larger institution.

What we are witnessing is a mass-consolidation, with central banks fulfilling their endgame of being the buyers and lenders of last ,Yoked resort.

The rich ruleth over the poor, and the borrower is servant to the lender.Proverbs 22:7

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