Ripped From The Headlines, April 21, 2023
Fed to "Rethink" Banking Rules, Michigan Lawmakers Bow To China? Ex-CIA Director Swayed 2020 Election - Read, Share, & Subscribe - SherlocExposes.com
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“The Federal Reserve may close a loophole that allows some midsize banks to effectively mask losses on securities they hold, a contributing factor in the collapse of Silicon Valley Bank.
Led by vice chair for supervision Michael Barr, the Fed is considering ending an exemption that allows some banks to boost the amount of capital they report for regulatory purposes, according to people familiar with the matter. Capital is the buffer banks are required to hold to absorb potential losses.
Regulators are weighing the change after the sudden collapses last month of SVB and Signature Bank rattled the financial system. If adopted, it would reverse a loosening of rules by the Fed in 2019 and heighten oversight of midsize banks by extending restrictions that currently only apply to the largest, most complex firms.
All told, regulators are considering extending toughened restrictions to about 30 companies with between $100 billion and $700 billion in assets, the people said. A proposal could come as soon as this summer, and any changes would be phased in, potentially over a couple of years.
Regional banks such as U.S. Bancorp, PNC Financial Services Group Inc., Truist Financial Corp. and Capital One Financial Corp. could be affected, and could be made to bolster capital. That could prompt steps such as trimming buybacks, retaining more earnings or raising new capital from investors. Banks are planning to fight rule changes.”
“Furious Michigan residents slammed their Democratic state lawmakers for facilitating the construction of a Chinese-backed green energy project.
During a public hearing for the Michigan Senate's appropriations committee, locals condemned plans to use $175 million in taxpayer funds to build an electric vehicle battery plant in Big Rapids Township owned by Chinese tech company Gotion.
Despite being aggressively confronted for considering the plans, the committee went on to approve the measure in a tight 10-9 vote, with every Republican and three Democrats on the committee coming out against it.
The approval comes amid mounting focus upon China's ability to buy large amounts of farmland in the US, which both lawmakers and citizens fear could allow the nation undue influence in America.
Speaking before the committee ultimately approved the proposal, Hannah Saez, the clerk of the Big Rapids Township, told the committee she was 'gravely disappointed'.
Saez criticized the local lawmakers for falling in line behind Michigan Governor Gretchen Whitmer, who announced in October that Gotion, which is a subsidiary of China-based company Gotion High-Tech, would invest $2.4 billion to construct two 550,000 square-foot production plants across 260 acres in Michigan.
'I can attest, however, that our community is now united in ways they would have never been before. They do not want this,' Saez continued.
'Thousands of Michiganders will be watching today. I know you all receive daily emails and phone calls. I know you're under pressure. I know you've probably been coerced.
'I beg of you to do what is right here even if corruption is knocking at your door.'“
“Joe Biden’s presidential campaign prompted former acting CIA Director Mike Morell to ‘help Biden’ by organizing 50 colleagues to sign a letter in October 2020 falsely claiming that damning emails from Hunter Biden’s laptop published by The Post were Russian disinformation.
In private sworn testimony, Morell told the House Judiciary Committee that Antony Blinken, now Secretary of State, was the senior campaign official who reached out to him ‘on or before’ Oct. 17, 2020, three days after The Post published an email from the laptop suggesting Hunter had introduced his Ukrainian business partner to his father, then vice-president Biden.
Morell, identified as a potential CIA director under Biden, said he organized the letter to ‘help Vice President Biden … because I wanted him to win the election.’
Until Blinken’s call, Morell told House investigators that he had no intention of writing any statement exonerating Biden.
But he agreed that the conversation with Blinken ‘triggered … that intent’ in him.
“The Good, The Bad, & The Ugly” Friday, Ripped From The Headlines. Things To Ponder:
“Don’t Worry… We Have Rules And Laws! Your Money Will Be Fine!”
Yeah… except for the part where “rules” and “laws” don’t get followed.
A bit of clarity here:
This piece makes midsized banks the only bad guy in the banking crisis, which isn’t true…
As we’ve shared on a number of occasions, ALL OF THE BIG BANKS ARE TECHNICALLY INSOLVENT BECAUSE THEY DON’T HAVE TO REPORT THEIR SHORT POSITIONS.
That means, when they bet on losers and are holding unrealized losses, they don’t have to tell you.
Still not sure? Here’s CNN talking about it while the banking crisis was happening last month:
From the article:
Silicon Valley Bank’s collapse last week sent tingles of panic down investors’ spines as it highlighted a larger problem across the banking sector: The widening gap between the value large lenders place on the bonds they hold and what they’re actually worth on the market.
SVB’s downfall was tied, in part, to the plunge in the value of bonds it acquired during boom times, when it had a lot of customer deposits coming in and needed somewhere to park the cash.
But SVB isn’t the only institution with that issue. US banks were sitting on $620 billion in unrealized losses (assets that have decreased in price but haven’t been sold yet) at the end of 2022, according to the FDIC.
Still not sure? Click Here, scroll down, and look at the chart of banks on that page…
We’d post it here, but for some reason, Substack won’t let us.
Yikes!
Know Your Foe.
”What Do You Mean China Is A Threat? SILENCE PEASANT!”
That’s now a day in the lift of Michigan residents and the good folks of Big Rapids Township…
A quick recap of what happened:
During a public hearing for the Michigan Senate's appropriations committee, locals condemned plans to use $175 million in taxpayer funds to build an electric vehicle battery plant in Big Rapids Township owned by Chinese tech company Gotion.
Yep, a taxpayer-funded EV battery plant…
For a Chinese-owned tech company…
What could go wrong?
Well, if Republicans and Democrats can agree that it’s a bad idea, things have to be pretty bad.
Here’s the good news:
People from all over the board are actually coming together based on their common interests…
Because they know this is an epic disaster waiting to happen, and will have significant local and national implications.
This is what we need more of…
Those who desire to do us harm have a much harder time doing so when we work in mass.
“We Told You It Was Fake For Your Own Good…”
Government agencies have a knack for doing this to us…
For their own benefit, not yours.
Hunter Biden’s laptop? IT’S FAKE, PEASANT!
Except, it wasn’t…
And the acting director of the CIA decided to make up a story and get people to sign on to the story because he didn’t want a Presidental candidate to win.
Let that sink in for a second…
Government agencies are being weaponized by those in charge of them to impact the outcome of an election.
What could go wrong?
Well, you could end up with the wrong guy in charge…
And guess what that gets us?
A nation on the brink of moral, social, and economic collapse…
Focused on environmental justice.
Know. Your. Foe.
What does this mean?
Things aren’t going to end well if you don’t take action.
But, here’s what’s different this time… multiple people are saying that same exact thing from a number of different angles, and in different places.
One of the things we often say is to watch what successful people do, & do what they do.
Most of them are already out of the line of fire for social unrest or economic collapse…
How do you think they see things ending up?
Why should I care?
When was the last time you checked on your “go-to’s”:
*Your go-to investment?
*Your go-to emergency plan?
*Your go-to community members?
If it’s been a while, here’s some bad news: They probably need to be updated. Role call for Preppers!!
That means you’re behind in planning for rough times.
You should care.
What should I do?
Take a moment… right now if you can… to take inventory of what you’re seeing in this newsletter each day.
Have you ever seen a time quite like this?
Ok good, you’re paying attention. That’s the point.
If you’re not paying attention and trapped in the hustle and bustle of a busy world (with a ton of useless stuff, by the way), this stuff will come up on you like a thief in the night.
You need to take the time to prepare as best you can for a time when good supplies, strong communities, and strong connections are the difference between surviving and thriving or being in bad shape.
GET MOVING ASAP.
Also, please share what you get from this newsletter.
It’s OK if you don’t understand it all.
Tell them to ask us.
Your future, and theirs, depends on it.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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