94 US Banks Burdened by Uninsured Deposits – Risk of Bank Runs


Posted originally on Aug 30, 2024 By Martin Armstrong 

Bank Broken

A new study by Florida Atlantic University believes that 94 separate US banks are facing a significant risk of bank runs. The at risk banks have all reported a 50% or higher ratio of uninsured deposits to total deposits. Basically, they simply do have the hard currency to shell out in the event of a panic.

Banks currently limit cash withdrawals under the pretense of money laundering and security. They will ask all sorts of questions if you even TRY to withdraw your money. They realize we are on the verge of a crisis in banking on a global scale.

The University’s Liquidity Risk from Exposures to Uninsured Deposits index found that BNY Mellon and John Deere Financial have a 100% ratio of uninsured deposits, followed by State Street Bank (92.6%), Northern Trust (73.9%), Citibank (72.5%), HSBC Bank (69.8%), JP Morgan Chase (51.7%), and U.S. Bank (50.4%).

The Federal Deposit Insurance Corporation (FDIC) has the power to shutdown a bank before a bank run occurs. The FDIC is controlled by Congress and acts as a safety measure to protect insured deposits in the event of bank runs. Deposits over $250,000 are not insured nor are mutual funds, annuities, life insurance, bonds, or stocks. Uninsured depositors have experienced a mere 6% in losses over the past 16 years.

Let’s take a look at the Silicon Valley Bank (SVB) failure of March 2023. The FDIC agreed to make all account holders whole including those with uninsured deposits. SVB has an uninsured deposit ratio of 97% at the time and failing to cover all losses would have created a panic in the banking world.  The FDIC invoked the “Systemic Risk Exception” for SVB and Signature Bank that enabled them to protect uninsured depositors when deemed necessary. Two-thirds of the FDIC board voted in favor of the measure and the Fed, Treasury Secretary, and president signed it off.

The FDIC relies on the Deposit Insurance Fund (DIF), which is backed by Washington. Now, what happens when multiple large banks fail? It was easy for the government to write off a few banks to brush the severity of the situation under the rug. If everyone tried to withdraw their accounts at the same time, the government would not have the hard currency to back it. This is one of the major reasons that we will see a conversion from hard currency to digital.

I have stressed that studies in ancient times as well as modern show that during a crisis you head toward DEFLATION as money becomes scarce, the VELOCITY of money collapses, and people HOARD wealth – they do not spend it. The US will experience a period of stagflation as GDP will decline as inflation soars. Banks will begin to fail in Europe before it becomes a global contagion.

California Offers Free Housing to Migrants


Posted originally on Aug 30, 2024 By Martin Armstrong 

California.Migrant.FreeHousing

The US government highly favors migrants over citizens. California’s Senate passed a bill that will permit illegal migrants to secure housing loans at 0% interest with a 0% downpayment. They will receive grants of up to $150,000 to use toward the home. California citizens are handing these people free healthcare, debit cards, phones, and now home ownership. How do the Democrats justify this blatant scheme?

I spoke with an acquaintance who happens to be moving to California. She was on board with the program and agreed with the Democrat’s handling of the migrant crisis. “Where else are they going to live? It will make it easier for them to find housing, and immigrants are such a vital piece of our economy.” She fails to understand the economic implications behind such a move and is disillusioned about the overall demographic of migrants, as most did not come to the US to work because that was never a requirement.

Banks make US citizens go through hoops to secure housing. You must show solid employment for two years, good credit, and a low debt-to-income ratio. The banks review every single asset someone owns and their potential for future income to ensure that the potential homeowner will be able to repay. It is a long and tedious process unless you pay in cash, which few can do. Then they ask for up to 20% on a downpayment and slap on an 8% interest rate, give or take. Property taxes and insurance premiums rise every year without fail. The banks will gladly foreclose a property if they do not receive payment when it’s due. US citizens who worked their entire lives and actually paid into the corrupt system are unable to secure housing. California, in fact, has the highest homeless population in the nation.

How will these migrants pay property taxes? How will they pay for property insurance, which often surpasses the cost of property taxes? What happens when the local municipality goes bust, and no one can pay the bank? There was absolutely no consideration regarding how these migrants with no proven work history or potential future earnings could make payments. The government cannot afford to buy homes for every migrant family. There is no plan in place to finance this initiative properly because the money does not exist. California’s deficit already stands at $47 billion and continues despite Governor Newsom raising taxes at every turn.

“With many legal residents not able to afford a home, should we really be giving free cash to illegal immigrants? Every dollar that goes to an illegal immigrant is one less dollar available to legal residents including veterans, teachers, and families,” said California Senate Minority Leader Brian Jones, R-San Diego, in a statement. “California already spends $5 billion per year on free healthcare for illegal immigrants—will it ever be enough for Democrats’ political agendas?”

California is one of numerous blue states that plan to give the migrants even more taxpayer funds. Oregon announced that it will provide migrants with $30,000 to use toward housing under its Camino a Casa program that is ONLY available to illegal migrants. This is clear state-sponsored discrimination against US citizens at a time when the majority of renters are struggling to enter the housing market.

What are the benefits of US citizenship at this point? We are the ones footing the bill for ourselves and the millions of newcomers. Someone can break international law, cross over the border with their entire extended family, and receive more benefits from the government than any senior, veteran, or disabled person living on government assistance. Kamala Harris plans to build millions of new homes to curb the housing crisis, BUT SHE IS KEEPING THE BORDER OPEN! How can we ever quell the uneven demand when millions of people are pouring into our nation?

So, they plan to solve the migrant housing crisis by simply giving them free homes. Will all the newcomers also receive free housing? How will this change the demographic of neighborhoods and communities throughout California? Politicians never look a moment past the next election, and they simply do not care about the long-term repercussions of their actions.

The Trump Assassination Attempt Getting Worse By The Day


Posted Aug 29, 2024 By Martin Armstrong |  

The assassination attempt on Trump will most likely go down in history as another Neocon conspiracy to retain power, as was the case with JFK. There is way TOO MUCH at stake here, and a Trump victory with RFK now, who both are fully aware that the Neocons pose the greatest threat to their power. There is no reason with these people. They have their dogma, but you see a great divide taking place in Israel with leaders of intelligence, etc, coming out against Netanyahu. There is nothing these people will not do, for they are confused about what is best for their country based on their personal beliefs and prejudices.

FBI Says Trump Attempted Assassin Acted Alone and There’s No Motive Behind “Why”


Posted originally on the CTH on August 28, 2024 | Sundance 

I’m not surprised, I’m just angry.  According to Kevin Rojek, the head of the FBI’s Pittsburgh Field Office leading the investigation into the attempted assassination of President Trump, Matthew Crooks acted alone -no coconspirators- and the FBI has no idea what his motive was.

According to the representative for the “best men” the Federal Bureau of Investigation has, Crooks might have been a leftist or a far-right extremist, they are just not sure.

What the FBI does know is that no one taught or helped Crooks make complicated explosives, and they are sure he acted alone… for some mysterious reason…. that culminated in a bullet passing through the top of President Trump’s right ear.

The pretending that permeates the FBI is infuriating to me. It is almost difficult to write or share this stuff.

WASHINGTON – Six weeks after the assassination attempt against Donald Trump, the FBI still doesn’t know what motivated the shooter.

“Extensive analysis of the subject’s online search history as well as his specific online activity has provided us valuable insight into his mindset, but not a definitive motive,” Kevin Rojek, the head of the FBI’s Pittsburgh Field Office, told reporters Wednesday.

So far, he added, the FBI sees “no definitive ideology … either left-leaning or right-leaning” associated with the shooter, Thomas Crooks.

Rather, Crooks had “a sustained, detailed effort to plan an attack on some event” and considered multiple targets, according to Rojek. He became “hyper-focused” on Trump’s July 13 rally in Butler, Pennsylvania, after it was announced. Crooks fired eight shots at Trump from a rooftop that day, killing one person in the crowd, injuring two others and injuring Trump’s ear. Within seconds, a Secret Service sniper shot and killed Crooks.

There are no signs that Crooks had any co-conspirators or had links to foreign entities, officials said.

The FBI has accessed and analyzed material from encrypted email accounts he used, officials added.

[…] “We will never be able to determine exact motivation for why the subject flew the drone,” he added. (read more)

The FBI doesn’t know his motivation. 

How about just accepting, the friggin’ guy was trying to kill President Donald Trump!  This is not a super challenging motive to identify.

SUMMARY – In addition to bringing explosives, a detonator, a range finder, a backpack and an AR15 rifle to the rally, while finding a way to sit undetected -on a rooftop- directly underneath a counter-sniper position, the 20-year-old without a social media footprint apparently had air superiority and was flying his drone around the venue.

.

♦ […] “The 9th shot fired on J13 was from a Butler SWAT operator from the ground about 100 yards away from the AGR building. Shot 9 hit Crooks’ rifle stock and fragged his face/neck/right shoulder area from the stock breaking up. The SWAT operator who took this shot was a total badass; when he had sighted the shooter Crooks as a mostly obscured by foliage moving target on the AGR rooftop, he immediately left his assigned post and ran towards the threat, running to a clear shot position directly into the line of fire while Crooks was firing 8 rounds. On his own, this ESU SWAT operator took a very hard shot, one shot. He stopped Crooks and importantly, I believe the shot damaged the buffer tube on Crooks’ AR. I won’t be certain of this until I can examine Crooks’ rifle, but I’m 99% sure based upon reliable eye-witness ESU tactical officers who observed Crooks’ rifle before the FBI harvested it as evidence. This means that if his AR buffer tube was damaged, Crooks’ rifle wouldn’t fire after his 8th shot.” [Clay Higgins Report, pdf – page 4]

When Family is Not Family


Posted originally on Aug 26, 2024 By Martin Armstrong 

Kerry Kennedy 2

QUESTION: What do you think of RFK’s sister? I can’t imagine her as a family member.

GH

ANSWER: Let me explain something that shocked me when I was a kid. My father had a client whose children never supported him. My father did his will, and he left everything to the live-in housekeeper who took care of him for his last ten years of life. The family never visited and basically just disagreed with whatever he stood for. What I remember was the very day he died, his kids ransacked his house, convinced he had stashes of cash. They began punching holes in the walls, looking for money.

What I remember is that the housekeeper had no idea he left everything to her. The kids challenged the will, and my father defended it. Because of their actions, the court ruled in favor of the housekeeper, and they had to pay all the legal fees plus repair the house they trashed. The good old days when “JUSTICE” stood for something instead of “JUST US.

Simply because she may be his sister means nothing. She appears to be a questionable person who is clearly voting labels and has no idea what her father and uncle stood for. I hate to tell her, but JFK and her father were taken out (1) because they were AGAINST war, and (2) JFK wanted to shut down the CIA after they proposed killing Americans and blaming it on Cuba to justify invading. Has she ever heard of Ukraine? Perhaps we should send her a coupon to buy an M16 and a free ticket to the front over there, where she can join the war and support Kamala and the Neocons who killed her own family members.

I would remove her from my will or leave her all my liabilities to pay off. With a family member like that, who needs enemies?

655cafcdfc6f3cfc4e8a0d1e_Roy%20Kellerman

Perhaps she should study her facts. Roy Kellerman (1915 -1984) had more than 20 years of experience with the Secret Service and was in charge of the Dallas security operation on Nov 22, 1963. He was in the front passenger seat of JFK’s limo and briefly turned back when the first shot was fired. He described a shot that sounded like a firecracker, then two more gunshots that ended in a ‘flurry’ of shells, indicating more than three shots had been fired. He told the Warren Commission that President Kennedy’s special assistant, Kenneth O’Donnell, instructed that the bubble top on the car should be removed if the weather was clear that day. After Roy’s death, his widow reported that her husband was convinced there had been a conspiracy to kill Kennedy. It has been over 60 years, and they refuse to release the investigative documents.

WHY?

Phillip Patrick: Big Banks See The Dollar’s Purchasing Power Decline


Posted originally on Rumble By Bannons War Room on: Aug 24, 2024 at 11:00 am EST

The Neocons are Enemies Within


Posted originally on Aug 20, 2024 By Martin Armstrong 

Dick Cheney is a Neocon

Jeffrey Sachs the Reality of our Imperial Neocons


Posted originally onAug 24, 2024 By Martin Armstrong 

This is one of the best explinations of what is going on between the US and Russia that I have ever listened to. It is a short Video and everthing in it is true to what I know.

The Cities with the Highest Unemployment in America


Posted Aug 23, 2024 By Martin Armstrong 

The Democratic National Convention occurring in Chicago is touting the importance of defeating Trump, climate change, gun control, and abortion. These are the ONLY talking points that the Democrats harp on while ignoring the REAL issues plaguing the nation. It was revealed earlier this week that the Biden-Harris Administration completely failed to create new jobs outside of the public sector. As the elite sit behind armored walls, the people of Chicago are suffering under blue policies. In fact, Chicago now ties with Las Vegas for the highest unemployment rate in the nation.

Both Las Vegas and Chicago have an unemployment rate of 6.2%, according to the Bureau of Labor and Statistics. Detroit comes in third with a rate of 5.2%, far above the national unemployment rate or 4.3% posted in July.

Chicago has fewer workers and more unemployed residents than before Mayor Brandon Johnson took office in May 2023,” the Illinois Policy Institute (IPI) noted in a report. “Johnson ran on the idea, and has continuously proclaimed, that his administration is ‘making Chicago the most pro-worker city in the country.’ There’s just one problem with that – today, nearly 100,000 Chicagoans are out of work.”

Businesses and individuals have fled Chicago and Las Vegas in droves. Crime in Chicago rose an astounding 82% in two yearsIn Las Vegas, you have a 1 in 28 chance of becoming a victim of crime. Violent crime in Vegas has reached 40.9%, which is far beyond the national rate of 22.7%. Businesses cannot stay open in these conditions where theft and violence is permitted. Chicago considered implementing city-run grocery stores after businesses fleeing led to a food desert.

Both cities are deemed sanctuary cities. They cannot handle their own population but have opened the floodgates to countless individuals who are solely living on government assistance. Their budgets have imploded and those in charge lost control of the situation long ago.

Over 87,000 left Illinois last year, as did the $10 billion they were providing the state in income. The IRS believes the state has lost $47.5 billion in adjusted gross income over the last six years due to the blue state exodus. This trend has only accelerated due to recent policies. “We’re not bringing in the best and the brightest in many cases to the state of Illinois; we’re actually pushing them out of the state with horrible policies and we’re back filling it with folks that want services,” State Sen. Andrew Chesney, R-Freeport reported, as 177,000 new incomers entered the state while 264,000 abandoned it during the same period of 2021 to 2022.

Businesses will flee when crime rises to the point where it is no longer profitable to operate. Crime reached such an unprecedented level that these companies were willing to take a loss simply to leave. Naturally, they took jobs with them and those with the means to move have done so already. These once-great cities are now ravaged by poverty and crime.

Corporations have already fled to move to states that are business-friendly. Who would want to live in such a place other than those receiving government aid who are already part of the problem? It is an insult to the people of Chicago for the DNC to cheer on their only talking points (guns, climate change, Trump, and abortion) while ignoring the American citizens struggling around them.

Mercenaries – the New Way to Fight Wars


Posted originally on Aug 22, 2024 By Martin Armstrong 

Mercenary Soldier

We tend to think of war as a national army against a national army. But wars have changed dramatically since Iraq. Mercenaries are more powerful than most realize, which is a grave oversight. Those who assume they are cheap imitations of national armed forces do not have a clue about what is taking place. For-profit warriors are a wholly different species of fighter. Private military companies like Russia’s Wagner Group were more like heavily armed multinational corporations than the Marine Corps. Their employees are recruited from different countries, and profitability is everything. Patriotism is unimportant, and sometimes a liability. Unsurprisingly, mercenaries do not fight conventionally, and traditional war strategies used against them often backfire.

If we look at the Iraq War, the US Department of Defense employed 155,826 private contractors in Iraq. In 2016, 1 in 4 U.S. armed personnel in Iraq and Afghanistan was a private contractor. This meant that the war was being outsourced, and neither scholars nor the media seemed to pay attention. Looking at the stats provides an interesting perspective. Between 2006 and 2016, 238 private contractors/mercenaries perished in Iraq. Looking at who does this work reveals that they are predominantly white man in their 40s. Most are veterans with significant military experience who were former officers, and about half of them are Special Forces veterans. They are more likely to have a college degree than their active-duty counterparts but less likely than their fellow veterans in the general population.

This degree of privatization of military troops is unprecedented in modern warfare. The Neocons used Biden to circumvent Congress to create World War III, deploying private armies to negate Congressional approval. If they are private contractors, then the Neocons can tell them to invade Russia or even New York City since they are NOT actually official military personnel.

In terms of Biden signing private contracts, one federal department reigned supreme. In 2020, the Department of Defense awarded more money in federal contracts than all other government agencies combined. And one study found that nearly half of defense spending for the wars in Iraq and Afghanistan went to private contractors. President Joe Biden signed a record-shattering military budget in 2021, topping 2020. Even after America’s complicated withdrawal from Afghanistan, congress approved the biggest defense spending bill in history.

The cost of Iraq and Afghanistan directly was $1.6 trillion. Add the ongoing interest costs compounded, and by 2032, the costs of that war alone will reach more than $3 trillion. Why use private mercenaries? Guess what? There are no VA benefits and pensions. Some may earn even up to $2,000 per day. On March 19, 2003, Paul Wolfowitz, then deputy defense secretary and a leading proponent of the war, told a Congressional committee: “We are dealing with a country that can really finance its own reconstruction, and relatively soon.” That was not even close to being true. But these people love to sell war all the time.

Private Mercenaries

While they Say Prostitution is the Oldest Profession, Mercenaries are certainly the second-oldest

Etruria African

The historian Arrian informs us that Greek mercenary hoplites served Persia in defending against Alexander the Great in the closing stages of the Battle of Granicus. Both Celtic and Greek mercenaries served in the Carthaginian garrison at Lilybaeum while it was besieged by the Romans during the First Punic War. Indeed, much of military history from ancient times includes privatized armies. The word “mercenary” comes from the Latin merces, “wages” or “pay.” Since ancient times, employing mercenaries to fight wars has been routine throughout most of military history. Xenophon’s famous army of Greek mercenaries known as the Ten Thousand (401–399 BC) were mostly mercenaries. Hannibal’s sixty-thousand-strong army, included Greek and Celtic mercenaries, who marched with elephants over the Alps to attack Rome from the north.

Here is a coin from central Italy depicting an African mercenary and an elephant. Rome also regularly employed mercenaries, and even by the European Middle Ages, mercenaries were part of armies. Machiavelli’s The Prince (1513) Chapter XII: How Many Kinds of Soldiery There are, and Concerning Mercenaries.

The fact, during the Middle Ages mercenaries were called condottieri or “contractors,” and they formed multinational companies, termed “free companies,” just like Blackwater and Aegis today. There was a backlash against war, and states began to cooperate to outlaw mercenaries. This effort came to an end with the rise of Communism and the Cold War. This is when the United States began to invest billions into the private military industry. General Eisenhower warned us when it was his last day in office.

NATO_Defeat Russia_in_3_Days Adam Kinzinger

The US has turned to private mercenaries to some extent because an All-Volunteer Force could not recruit enough Americans to maintain wars. In 2002, Defense Secretary Donald Rumsfeld said the Iraq War would last: Five days or five weeks or five months, but it certainly isn’t going to last any longer than that.” Sound familiar? Adam Kinzinger claims we could defeat Russia in three days. For publicity’s sake, when the Iraq War was not over in five weeks or even five months, the risk of a Vietnam-like draft to fill the ranks, or they would contract out for mercenaries. In Iraq, 50% of the US force was mercenaries. In Afghanistan, mercenaries reached 70%. In WW2, it was only 10% were mercenaries.

Part of this migration crisis is their hope to fill the military ranks, offering them citizenship. Today’s mercenaries are from all over the world: Mexico, Ghana, Australia, Canada, and Africa. Private military companies are just like any other multinational corporation: they recruit globally.

More mercenaries were killed in Iraq and Afghanistan than soldiers. The actual number of contractors killed is probably higher than we know since the US government doesn’t collect such data, and the companies generally do report that figure since it would clearly be bad for recruiting. We now see private military operations in Russia and other countries in Europe. This has become a multi-billion-dollar industry. Even the United Arab Emirates hired mercenaries to fight in Yemen. Nigeria has also turned to hiring mercenaries.

The side-effect is that by turning to mercenaries; history shows they have also turned on the hand that fed them. The Neocons can use mercenaries and send them to invade without Congressional Acts of War since they are no officially American troops. This dangerously creates a strategic dependency on the private sector to sustain war, and those in power then have “plausible deniability” since Americans are not coming home in body bags.

It is also NOT a war crime if a mercenary rather than a government carries it out.  Contractors don’t count as “boots on the ground” sending in their mercenaries. This actually undermines all accountability of the armed forces. Congress typically has no idea of who’s being contracted. They do not see the details.

The Neocons love mercenaries, for they do not need a Declaration of War from Congress and can order an invasion of Russia, as they have just done, with no accountability. They can start and expand wars for profit and personal vengeance. Out of work, mercenaries are so accustomed to violence that they are not easily re-emerged into a society where law and conduct are accountable. There’s a lot of historical evidence for this from the European Middle Ages when mercenaries were routinely used, and when unemployed, they did not return nicely to society.

With the Neocons turning to mercenaries, they can wage war without approval from Congress or oversight from anyone. Private military companies must generally self-report crimes, which they won’t. Mercenaries are a symptom of something far more serious as we move into 2032. Mercenaries have completely changed war and threatened world order. Mercenaries are becoming more common, and this presents a serious problem looking ahead.

Categories:WAR